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China stocks close higher after economic meeting


08:35, December 18, 2012

BEIJING, Dec. 17 (Xinhua) -- Chinese shares went up slightly on Monday after the government vowed to enhance quality and efficiency of economic growth next year in its central economic work conference over the weekend.

The benchmark Shanghai Composite Index climbed 0.45 percent, or 9.72 points, to 2,160.34.

The Shenzhen Component Index finished at 8,600.33, up 0.81 percent, or 69.44 points.

Combined turnover on the two bourses shrank to 198.5 billion yuan (32.01 billion U.S. dollars) from 208.23 billion yuan the previous trading day.

The two-day conference set the tone for China's economic policies in 2013. Delegates decided on maintaining a proactive fiscal policy and prudent monetary policy next year as the global economy is expected to maintain a slow growth.

Coal led Monday's growth, with the sub-index for the sector up 3.28 percent from the previous trading day. Yunnan Coal & Energy Co., Ltd. surged by the daily limit of 10 percent.

Liquor producers saw the second-strongest growth, despite a lingering scandal over toxic levels of plasticizer in some of their products. The sub-index for the sector rose 3.04 percent from the previous trading day.

Jiugui Liquor, which was first implicated in the scandal in November, went up 1.9 percent to 33.05 yuan per share.

Kweichow Moutai, a leading producer of high-end liquor in China, rose 1.53 percent to 211.09 yuan per share.

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