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BEIJING, March 7 (Xinhua) -- Chinese shares closed higher Tuesday as investors showed confidence in the country's resolve to put quality over fast growth.
The benchmark Shanghai Composite Index was up 0.26 percent to end at 3,242.41 points. The Shenzhen Component Index closed 0.28 percent higher at 10,552.14 points.
The ChiNext Index, China's NASDAQ-style board of growth enterprises, gained 0.77 percent to close at 1,977.85 points.
Combined turnover of the two bourses stood at 495.5 billion yuan (about 71.8 billion U.S. dollars).
The electronic information sector led Tuesday's rally. Iflytek rose 7.88 percent to close at 34.37 yuan. Wangsu Science & Technology gained 7.36 percent to close at 54.26 yuan.
China's finance minister on Tuesday reiterated confidence in controlling debt risks despite some irregularities in local governments' financing activities.
"China's government debt risks are generally within control," Finance Minister Xiao Jie said at a press conference on the sidelines of the annual parliamentary session.
By the end of last year, combined debt of central and local governments in China stood at 27.33 trillion yuan with the debt-to-GDP ratio at around 36.7 percent, Xiao said, adding there won't be big changes in the ratio this year.
Compared to international levels, the relatively low ratio allows room for the government to further raise debt, Xiao noted.
