Chinese shares soar three percent

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Beijing, Jan 19 (IANS) Chinese shares gained significantly on Tuesday afternoon despite weak economic growth in 2015.

The benchmark Shanghai Composite Index surged more than three percent to regain the psychological sensitive level of 3,000 points, Xinhua reported.

Shares related to high-speed railways, reform of state-owned enterprises, and the Belt and Road Initiative led the charge.

The Chinese economy grew 6.9 percent year on year in 2015, the slowest annual expansion in a quarter of a century, but is still in line with the official target, according to data from the National Bureau of Statistics.

Growth in the fourth quarter of 2015 came in at 6.8 percent year on year, the lowest quarterly rate since the global financial crisis, the data showed.

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