BEIJING -- inese stocks fell to the lowest levels since March 2009 on Thursday, as mounting concerns over a slowing economy and a standstill of the European bailout talks continued to weigh on investors.

The benchmark Shanghai Composite Index slumped 1.94 percent, or 46.15points, to close at 2,331.37, the lowest level since March 2009.

The Shenzhen Component Index suffered heavier losses by plunging 3.06percent, or 309.51 points, to close at 9,796.23, breaching the key 10,000 mark and set a new low since June 2010.

Combined turnover rose to 110.66 billion yuan ($17.38 billion) from Wednesday 101.4 billion yuan.

Losers greatly outnumbered gainers 877 to 63 in Shanghai, and 1,268 to 109 in Shenzhen. The share prices of 71 companies stood unchanged in both markets.

Mounting concerns about slower economic growth in the fourth quarter shattered investors' sentiments, which was dampened by an impasse of talks in Europe to install a rescue fund to bail out troubled banks.

All sub-indexes lost ground, with ship builders, pesticide and fertilizer producers, cement companies and liquid brewers leading the losses.

Shares of major real estate companies tumbled after Chairman of the China Banking Regulatory Commission, Liu Mingkang, said late Wednesday banks can withstand a 40-percent-property-price fall in latest stress tests. China Vanke, the country's largest property developer by market value, retreated 1.13 percent to 7.02 yuan. Poly Real Estate dropped 1.95 percent to 8.54 yuan.

Stocks of banks posted moderate losses after the CBRC chairman's remarks. ICBC, China's largest lender, dipped 0.48 percent to 4.16 yuan, CCB, the second largest Chinese bank, fell 1.72 percent to 4.56 yuan.

Sinohydro Group Ltd, China's largest hydroelectric power plant builder, plunged 7 percent to 4.52 yuan, barely holding above its IPO price of 4.5 yuan after it began trading on Tuesday.