CHINA’S stocks climbed yesterday, energized by a surge in tech-heavy, Shenzhen-listed shares after the Shenzhen Stock Exchange dramatically expanded the number of firms in a benchmark index.

    The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 0.5 percent to 4,754.92 and the Shanghai Composite Index gained 0.7 percent to 4,448.29 points.

    Shenzhen’s indices, including the main board, the SME board for small and medium-sized enterprises, and the ChiNext board for start-ups, all gained over 2 percent to record highs.

    Tech-related stocks also got a boost from the government’s ambitious “Made in China 2025” strategy published Tuesday. It paints China’s next stage of economic ascent, from low-value manufacturing to a world of prosperity spanning space, e-commerce and green energy.

    “To those who were previously dumbfounded by the meteoric rise in tech stocks, it’s very clear now that the government is counting on this very sector to help China’s economic recovery and transformation,” said David Dai, investment director at Nanhai Fund Management Co.

    “Is there a bubble? Of course, there is. But this is how you can guide resources into high-tech firms to fund very expensive innovation.” (SD-Agencies)