The Shanghai Composite, China's leading stock market index, rose more than 6 per cent in its biggest one-day gain since November, after a senior official said premier Wen Jiabao would outline new spending plans to combat the global downturn at the NPC, China's legislature.
US and European markets also rebounded after two days of heavy selling, with the FTSE 100 rising 3.8 per cent and the S&P 500 up 1.5 per cent in early- afternoon trading.
Mining and resources companies led the way. Rio Tinto rose as much as 14 per cent. The prospect of a Chinese recovery reviving global demand also prompted a jump in commodity prices, with copper rising 7 per cent to a three-month high.
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