At closing bell, the benchmark Shanghai Composite Index was up 1.02%, or 36.09 points, to 3,565.59. The Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 0.35%, or 8.65 points, to 2,478.72. The blue-chip CSI300 index added 1.35%, or 68.38 points, to 5,151.46.
Earlier in the day, People's Bank of China (PBOC) rolled over part of the 400 billion yuan maturing one-year medium-term lending facility (MLF) loans, by injecting 100 billion yuan ($15.46 billion). The move, coupled with the PBOC's surprise reserve requirement ratio cut announced last week, pointed to a loosening policy bias at the PBOC.
ECONOMIC NEWS: China GDP Climbs 7.9% On Year In Q2-China's gross domestic product was up 7.9% on year in the second quarter of 2021, the National Bureau of Statistics said on Thursday, down sharply from 18.3% in the three months prior. On a quarterly basis, GDP gained 1.3%, up from 0.6% in the previous three months.
Industrial production climbed an annual 8.3% in June, exceeding market expectations but down from 8.8% in May. Fixed asset investment jumped an annual 12.6%, slowing from 15.4% in the previous month. Retail sales expanded 12.1% year-on-year, after rising 12.4% in May. The jobless rate held steady at 5%.
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