China's benchmark stock index had its best start to a year since 2000, as investors shrugged off declines in most global markets on optimism the nation's stimulus spending will help boost growth.

The Shanghai Composite Index, which tracks the bigger of China's stock exchanges, rose 15.17, or 0.6 percent, to 2,373.21 at the close, after flipping between gains and losses at least 11 times yesterday. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, added 0.9 percent to 2,507.79.

China Life Insurance Co advanced 4.2 percent after Shanghai Securities News reported the government will allow insurers to invest more in infrastructure projects. PetroChina Co declined 0.7 percent on signs regulators will allow initial public offerings to resume after a six-month freeze.