Chinese stock markets climbed 2 percent Tuesday, boosted by reports that insurance companies will enter the capital markets.

The Shanghai Composite Index, which covers yuan-denominated A shares and foreign-currency B shares, closed at 1,309.28, up 24.79points from Monday's close with a total turnover of 12.8 billion yuan (1.56 billion US dollars).

The Component Stock Index on the Shenzhen Stock Exchange closed at 3,382.98, up 84.51 points from the previous close. The Shenzhen Composite Index surged by 84.51 points, an increase of 2.56 percent, to close at 3,266 points, with a total turnover of 8 billion yuan (nearly 1 billion US dollars).

The China Insurance Regulatory Commission recently approved the entry of insurance companies into the stock markets.

Source: Xinhua