Chinese equities participated in a broader market selloff on Monday amid escalating tensions in the Middle East, which continued to weigh on investor risk sentiment, according to Wang Yin, market analyst at China Global Television Network (CGTN).
Chinese stocks closed mixed on Monday, with the benchmark Shanghai Composite Index up 0.24 percent to 3,923.29 points.
The Shenzhen Component Index closed 0.25 percent lower at 13,726.19 points.
"The Shanghai Composite Index fell as much as 1 percent before recouping the losses and gaining 0.24 percent at the close today. The Shanghai Composite Index has tumbled around 6 percent so far in March, which is largely wiped out all the year-to-date gain. But the index today was mainly boosted by shares of commercial aerospace and aluminum concept of sectors. Also, shares of the gold sector and energy sector outperformed with the gold sector gaining 3.4 percent and energy sector rising nearly 1 percent, with Shandong Gold Mining jumping 5.5 percent," Wang said.
"But on the flip side, the Shenzhen Component Index ended today lower by 0.24 percent. The CSI 300 Index declined as 0.24 percent. Shares of photovoltaic battery and wind power concepts leading the losses. Huadian New Energy Group was the biggest lagger tumbling 5.5 percent," she continued.
Chinese shares end mixed as Middle East tensions spark risk-off selloff
Chinese Vice President Han Zheng has called for deepening strategic partnership and expanding practical cooperation with Seychelles.
During his visit to the island nation from Saturday to Monday, Han met with President Patrick Herminie and Vice President Sebastien Pillay and attended a reception marking the 50th anniversary of China-Seychelles relations.
During talks with Herminie, Han conveyed cordial greetings and best wishes from Chinese President Xi Jinping.
As this year marks the 50th anniversary of bilateral ties, Han depicted the China-Seychelles relationship as a model of sincere friendship, equality, mutual assistance and win-win cooperation between countries of different sizes.
During the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC) held in September 2024, the two countries elevated their ties to a strategic partnership.
Han said his visit aimed to follow through on the important consensus reached by the two heads of state and further deepen the strategic partnership, applauding Seychelles' firm support on issues concerning China's core interests.
As Xi has lately announced China's decision to implement a zero-tariff policy on 53 African countries with diplomatic ties with China starting May 1 this year, China and Seychelles have already reached a consensus on the early harvest arrangement for the agreement on economic partnership for common development, Han said.
He called on both sides to work together to ensure that Seychelles continues to benefit from the zero-tariff policy.
China remains committed to true multilateralism and stands ready to work with Seychelles to uphold international fairness and justice, as well as the common interests of developing countries, Han said.
For his part, Herminie asked Han to convey his sincere greetings and best wishes to Xi, noting that Seychelles-China relations are in the best shape ever.
Seychelles firmly adheres to the one-China policy and highly appreciates the major global initiatives proposed by the Chinese president, Herminie said.
Seychelles is ready to deepen cooperation with China in various fields and promote greater development of bilateral ties, he added.
During his meeting with Pillay, Han said that exchanges between the two heads of state play a key guiding role in bilateral relations.
The two countries should strengthen exchanges at various levels, including governments, legislatures, political parties, people-to-people and subnational entities interactions, to further deepen political mutual trust, he said.
China supports Seychelles in maintaining its independence and pursuing a modernization path suited to its national conditions, Han said, adding that the two sides should strengthen strategic alignment to seize cooperation opportunities.
He also expressed hope that Seychelles will make good use of the zero-tariff policy to deliver more benefits to bilateral cooperation and its people.
The two sides should also strengthen cultural and people-to-people exchanges to consolidate public support for bilateral ties, he said.
Pillay said Seychelles-China cooperation has maintained strong momentum, fully reflecting their brotherly friendship.
Seychelles is willing to learn from the Communist Party of China's experience in governance and to further deepen exchanges and cooperation in various fields, he said.
Seychelles hopes to benefit from the zero-tariff policy and to serve as a transit hub for Chinese goods entering the African market, he added.
At the reception marking the 50th anniversary of diplomatic ties, Han said the "golden 50 years" of China-Seychelles relations deserve joint commemoration.
China stands ready to work with Seychelles to leverage head-of-state diplomacy for strategic guidance, deepen political mutual trust, expand practical cooperation and strengthen people-to-people bonds so that more tangible outcomes will benefit both peoples, he said.
Noting that this year also marks the 70th anniversary of the establishment of diplomatic relations between China and African countries, Han said China is willing to work with African nations, including Seychelles, to implement the outcomes of the FOCAC Beijing Summit and accelerate the building of an all-weather China-Africa community with a shared future for the new era.
During his visit, Han, accompanied by Pillay, made a tour to the China-aided Seychelles Broadcasting and Television Center project. The project, which was handed over in March 2025, represents a new achievement in bilateral friendly cooperation.
Chinese VP calls for deeper cooperation with Seychelles
