China shares closed higher on Monday, buoyed by gains in technology heavyweights after Beijing authorities pledged to increase support for the technology industry, while the market also expected U.S. - China negotiators to make progress in trade talks.
CSI300 rose 0.76 percent to 3926.59, while Shanghai Composite Index. SSEC rose 0.85 percent to 2980.05.
The office of the US Trade Representative (USTR) and the Ministry of Commerce said Friday that the two countries were close to finalizing parts of the trade agreement, after telephone conversations between the two leaders.
As Huawei and other technology giants were blacklisted in the Sino US trade war, China attaches more importance to the development of its own science and technology industry, vowing to seek self-sufficiency in science and technology.
State media reported Saturday that the people's Congress of China had passed a new code law. China is preparing to launch its own digital currency.
Lu Lei, deputy director of China's foreign exchange administration, said on Sunday that in addition to the traditional financial format, exchange and market, special attention should be paid to the rapid development of digital finance and financial technology. The administration is promoting the application scenarios of blockchain technology and artificial intelligence in cross-border trade financing and macro Prudential management.
The growth enterprise market index rose 1.7% and the China securities information technology index rose 3.8%.
In a report, China Merchants Securities pointed out that the central government once again emphasized blockchain technology, confirming the starting point of a new boom cycle in the science and technology industry.
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