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Chinese stocks close higher on tourism, financial sectors

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BEIJING, April 13 (Xinhua) -- Chinese stocks closed higher on Wednesday, boosted by strong performances in the tourism and financial sectors.

The benchmark Shanghai Composite Index closed at 3,050.4, up 29.03 points, or 0.96 percent.

The Shenzhen Component Index climbed 199.86 points, or 1.55 percent, to 13,102.08.

Combined turnover shrank to 246.23 billion yuan (37.67 billion U.S. dollars) from 275.6 billion yuan the previous day.

Gainers outnumbered losers 711 to 198 in Shanghai and 1,080 to 226 in Shenzhen.

The tourism sector surged nearly 3 percent across the board as Chinese Vice Premier Wang Qishan vowed on Monday to develop tourism into a strategic pillar industry of the nation's economy over the 12th Five-Year Plan (2011-2015) period.

Yunnan Tourism Co., Ltd. rose by the daily limit of 10 percent from the previous closing to finish at 12.93 yuan, while Lijiang Yulong Tourism Co., Ltd. climbed 8.69 percent to 32.91 yuan.

Shenzhen Development Bank Co., Ltd. rose 5.8 percent to 18.05 yuan, while Shanghai Pudong Development Bank Co., Ltd. went up 3.88 percent to 14.99 yuan. Industrial Securities Co., Ltd. surged 6.24 percent to finish at 19.58 yuan.

Non-ferrous metal and cement stocks fell with Zhuzhou Smelter Group Co., Ltd. plummeting 7.25 percent to close at 21.48 yuan and Gansu Qilianshan Cement Group Co., Ltd. falling 3.16 percent to 21.79 yuan.

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