The strong performance of China's stock market since March has been encouraging more people to open accounts in China's bourse, the Shanghai Securities News reported on Friday.

The Composite Stock Index on the Shanghai Stock Exchange, which comprises mainly yuan-denominated A shares and foreign-currency B shares, has been standing above 1,300 points for almost a week, the first time in a year.

The recent bullish performance of China's stock market has greatly enhanced the confidence of investors.

In the past four days, the total turnover of China's two stock exchanges in Shanghai and Shenzhen exceeded 130 billion yuan (16.25 billion U.S. dollars), much higher than the ordinary level, the newspaper said.

In the beginning of April, over 7,000 new accounts were opened each day on China's stock market, almost double the amount in the same period of last year.

China's stock market remained bearish for almost four years from 2001 to 2005. The Composite Index on the Shanghai Stock Exchange once dropped below 1,000 points last year.

(For more biz stories, please visit Industry Updates)