BEIJING, Dec. 13 (Xinhua) -- Chinese stocks rose 2.88 percent Monday with the benchmark Shanghai Composite Index ending at 2,922.95 after economic data released Saturday suggested stable economic growth.
The Shenzhen Component Index gained 3.57 percent, or 444.56 points, to end at 12,905.02.
Three major economic data releases Saturday pointed to faster economic growth: November industrial value-added output rose 13.3 percent year on year; urban fixed asset investment increased 24.9 percent from a year earlier in the first 11 months; and November retail sales grew 18.7 percent year on year.
China's decision makers Sunday wrapped up an annual economic planning meeting, vowing to enhance and improve macro-economic regulation to ensure stable and healthy economic development next year.
Total turnover expanded to 290.74 billion yuan (43.65 billion U.S. dollars) from 186.98 billion yuan the previous trading day.
Winners outnumbered losers 885 to 7 in Shanghai and 1,118 to 9 in Shenzhen.
Sentiment was lifted Friday evening when China's central bank ordered banks to set aside more reserves instead of hiking interest rates, said Guojin Securities analyst Tao Jinggang, adding that Saturday's rosy economic data also boosted investor confidence.
Cement, oil, coal and non-ferrous metal stocks rose strongly.
PetroChina, the country's largest oil and gas producer, rose 4.37 percent to 11.95 yuan while Sinopec, the nation's top refiner, advanced 2.96 percent to 8.36 yuan.
Jiangxi Copper, the country's biggest copper producer, rose by the daily limit of 10 percent to hit 41.42 yuan.
Tongling Nonferrous Metals Group Co., China's second biggest copper producer, added 8.55 percent to 30.84 yuan.
