1st LD-Writethru: Chinese shares close higher Monday

BEIJING, Dec. 11 (Xinhua) -- Chinese stocks closed higher Monday, with the benchmark Shanghai Composite Index up 0.98 percent, at 3,322.2.

The Shenzhen Component Index closed 1.9 percent higher at 11,143.26.

The ChiNext Index, which tracks China's NASDAQ-style enterprises, gained 1.38 percent to close at 1,816.98.

Combined turnover on the two bourses stood at 402 billion yuan (about 60.7 billion U.S. dollars).

Most shares rallied on the two bourses, with shares in liquor and home appliances leading the gains.

Kweichow Moutai, China's leading liquor company, increased by 3.78 percent to 650.99 yuan, while shares of Wuliangye Group went up 5.89 percent to 71.9 yuan.

Midea Group and Gree Electric Appliances, two of China's leading home appliance makers, gained 6.33 percent to 53.62 yuan, and 4.2 percent to 43.44 yuan respectively.

China's fiscal revenue and expenditures both registered steady growth in the first 11 months on the back of strong economic growth, the Ministry of Finance said in a report Monday.

Fiscal revenue rose 8.4 percent year on year to nearly 16.2 trillion yuan in the first 11 months, while fiscal expenditure rose 7.8 percent to nearly 18 trillion yuan.

China promised a more proactive and effective fiscal policy in 2017, with the fiscal deficit set at 3 percent of GDP, or 2.4 trillion yuan, up 200 billion yuan from 2016. Enditem