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Shares open higher ahead of key economic conference

(Xinhua)
Updated: 2008-12-08 10:24

Chinese shares opened higher on Monday on prospects of more incentive news as a key economic conference will be opened in the day.

The benchmark Shanghai Composite Index rose 1.51 percent, or 30.5 points, to 2,049.16 at the opening. The smaller Shenzhen index was up 1.16 percent, or 84.5 points, to open at 7,362.65.

The three-day annual Central Economic Work Conference will be opened in the Chinese capital on Monday, which will be attended by senior leaders and all important decision-makers.

The conference, an annual event initiated more than a decade ago, serves as a crucial mechanism for the Communist Party of China Central Committee and the State Council, the cabinet, to make policies to govern the world's fourth largest economy by 2007.