The ChiNext Index, launched by the Shenzhen Stock Exchange on June 1, was up 40.53 points, or 4.05 percent, to close at 1,040.80 points in Monday's trading.
China's stock index futures closed up Monday with the contract for July, the most actively traded, up 2.84 percent from the previous trading day to end at 2,804.8 points.
Chinese equities rose on Monday as the Chinese government said over the weekend that it would allow greater flexibility in the yuan's exchange rate.
The Chinese stock market is likely to remain weak and directionless in the days ahead as uncertainties about Beijing's macro-policy stance may continue to weigh on it, anlaysts said.
China has become the world's third largest stock market as total market value of the Shanghai and Shenzhen markets hit 20.96 trillion yuan ($3.07 trillion) as of the end of May, the country's securities regulator said Friday.
Yuan forwards headed for the biggest gain this year amid mounting calls for China to allow its currency to resume appreciation before leaders from the Group of 20 nations meet on June 26-27 in Toronto.
Mainland stocks fell the most in three weeks as pharmaceutical, technology and consumer companies slumped on concern valuations are excessive given the prospect of further monetary tightening and slowing economic growth.
Chinese equities fell for the second consecutive trading day on Friday led by a slump of health-care shares on profit taking.
China's stocks fell on Shenyin & Wanguo Securities Co's downgrade of the steel industry and concern healthcare companies may be overvalued given their earnings outlook.
Hong Kong stocks resumed trading on Thursday and closed up 81.59 points, or 0.41 percent, at 20,143.74 points.
The ChiNext Index, launched by the Shenzhen Stock Exchange on June 1, was down 57.36 points, or 5.11 percent, to close at 1,064.84 points in Thursday's trading.