1st LD-Writethru: Chinese shares close higher Monday

BEIJING, March 5 (Xinhua) -- Chinese stocks closed slightly higher on Monday, after China kept its GDP growth target for 2018 at the same level as the previous year.

The benchmark Shanghai Composite Index was up 0.07 percent to close at 3,256.93. The Shenzhen Component Index closed 0.18 percent higher at 10,875.68.

Combined turnover on the two bourses stood at 386.5 billion yuan (61 billion U.S. dollars), down from 416.8 billion yuan the previous trading day.

China has set its GDP growth target at around 6.5 percent for 2018, unchanged from 2017, according to a government work report delivered by Premier Li Keqiang Monday at the first session of the 13th National People's Congress.

The target is more than enough to ensure the doubling of China's 2010 GDP by 2020, as analysts say an annual growth of 6.3 percent in 2018-2020 will do the job.

The shares of newly listed companies were the strongest on Monday, with the sub-index rising 5.13 percent. Among those firms, 10 surged by the daily limit of 10 percent.

Bucking the trend, liquor producers and steel mills dropped the most, with the sub-indices down 1.74 percent and 1.45 percent, respectively.

Kweichow Moutai was down 2.21 percent to 720 yuan per share. Sichuan-based Luzhou Laojiao Co. dropped 3.33 percent to 57.7 yuan.

The ChiNext Index, which tracks China's NASDAQ-style enterprises, gained 1.34 percent to close at 1,795.69. Enditem