BEIJING - Chinese stocks closed higher on Wednesday, with the benchmark Shanghai Composite Index up 2.7 percent to 3,995 points.

The Shenzhen Component Index closed 4.79 percent higher at 14,042.5 points.

The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 5.91 percent to close at 3,347.61 points.

The ChiNext Index, together with the Shenzhen Component Index and other indices, reflects the performance of stocks listed on the Shenzhen Stock Exchange.

The STAR Composite Index, which reflects the performance of stocks on China's sci-tech innovation board, closed 5.64 percent higher at 1,738.35 points.

The STAR 50 Index, which tracks the 50 largest stocks listed on the board that also meet certain liquidity requirements, closed 6.18 percent higher at 1,352.69 points.

The sci-tech innovation board, commonly known as the STAR Market, was inaugurated in June 2019 at Shanghai Stock Exchange. It is designed to support companies in the high-tech and strategic emerging sectors.