China's two equity markets witnessed a record high combined turnover at 224.41 billion yuan (29.1 billion U.S. dollars) on Wednesday, with the benchmark Shanghai Composite Index rising to 3,173.02 points, up 1.09 percent from the previous close.

The Shanghai index, which covers both A- and B-shares, rose by 34.19 points from the previous close on turnover of 152.75 billion yuan.

The Component Index on the Shenzhen Stock Exchange dropped by 41.88 points from the previous close on turnover of 71.637 billion yuan.

Analysts said the market was partly boosted by the State Council proposals to accelerate the service industry's development issued on Tuesday. The rise was led by market heavyweights such as bank shares.

The Shanghai A-share Index gained 36.23 points to close at 3,334.57 points, while the B-share Index dropped by 0.44 points to finish at 179.18.

Source: Xinhua