SHANGHAI, Dec 26 (Reuters) - China shares closed higher on Thursday after Beijing laid out plans to bolster its economy, which included investments in infrastructure and easing of residency curbs.
** The blue-chip CSI300 index rose 0.9% to 4,025.99, while the Shanghai Composite Index closed up 0.9% at 3,007.35.
** China plans 800 billion yuan ($114.32 billion) in railway investment, 1.8 trillion yuan in highway and waterway investment and 90 billion yuan in civil aviation investment in 2020, state radio said, citing Minister of Transport Li Xiaopeng.
** The CSI300 infrastructure index jumped 0.9% following the news.
** Real estate index rallied 2.9% and was the top gainer among all sectors.
** China scrapped restrictions on household registration permits for cities under 3 million population, and comprehensively loosened such curbs for cities of 3 million to 5 million residents, according to a document issued by the cabinet.
** In April, China said it would relax residency curbs in many of its smaller cities this year and increase infrastructure spending.
** Easing norms for urban residency will promote urbanisation and boost housing demand, Huachuang Securities analyst Yuan Haos said in a report.
** On the trade front, China on Wednesday said both sides’ economic and trade teams were in close communication about detailed arrangements for the phase one deal’s signing and other follow-up work.
** Around the region, Japan’s Nikkei index was up 0.60%.
** The yuan was quoted at 6.9994 per U.S. dollar, 0.15% weaker than the previous close of 6.989.
** By 0711 GMT, China’s A-shares were trading at a premium of 26.78% over the Hong Kong-listed H-shares.
$1 = 6.9979 Chinese yuan Reporting by Shanghai Newsroom; editing by Uttaresh.V
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