Chinese shares close higher Friday

Chinese stocks closed higher on Friday, with the benchmark Shanghai Composite Index up 0.87 percent to 4,112.90 points.

The Shenzhen Component Index closed 2.3 percent higher at 15,597.30 points.

The combined turnover of these two indices totaled 2.92 trillion yuan (about 427 billion U.S. dollars), down from 3.48 trillion yuan on the previous trading day.

Cultivated diamonds and CPO sectors led the gains, while those related to liquor and securities firms suffered the biggest losses.

The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 2.84 percent to close at 3,938.50 points on Friday.

The STAR Composite Index, which reflects the performance of stocks on China's sci-tech innovation board, closed 2.21 percent higher on Friday at 2,148.17 points.

Participants at the 32nd Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade Meeting, which opens in Suzhou of east China’s Jiangsu Province on Friday, are seeking tangible outcomes which can bring renewed momentum to trade and economic growth across the region and beyond.

During the two-day meeting, held under the theme of "Building an Asia-Pacific Community to Prosper Together," APEC trade ministers will focus on three guiding themes—openness, innovation, and cooperation, and on two major priorities: building an open and predictable regional and multilateral trade and economic order, and creating a new engine for dynamic trade and investment cooperation powered by innovation.

The discussions will center on four key areas: the Free Trade Area of the Asia-Pacific, the multilateral trading system, digital cooperation, and the green economy.

Many are hoping to deliver a more open approach to trade which can directly benefit businesses and consumers alike.

"So one of the areas that APEC is working on is actually how do we facilitate trade, particularly on e-commerce. So when we have trade frictions and custom duties simplified, that's easy for small businesses to trade with one another on e-commerce, and also for consumers -- just one click and you can get your products from Mexico, from Peru, from Vietnam, from China. I think it's going to benefit many small businesses from reaching new markets halfway around the world," said Grace Fu, Singapore's Minister-in-charge of Trade Relations.

On the sidelines of the conference, China will hold a series of seminars on investment facilitation, green supply chains, and electronic port networks, all of which are designed to unite businesses worldwide and promote collaborative, win-win industrial development.