China stocks open higher after key economic meeting

Chinese stocks opened higher on Monday as the country vowed to maintain continuous and stable economic policy at an annual tone-setting economic conference which concluded on Friday.

The benchmark Shanghai Composite Index opened 0.05 percent higher at 2,197.23. The Shenzhen Component Index gained 0.13 percent to open at 8,441.11.

A statement issued on Friday after the Central Economic Work Conference said that the country will continue to implement proactive fiscal and prudent monetary policies.

Acknowledging downside risks facing the economy, the statement also pledged to push forward interest rate liberalization and exchange rate reforms, and keep a reasonable growth of money supply and social financing.