The seven-day repurchase rate slid the most in five weeks as funds locked up for new share sales returned to the banking system. The Shanghai Composite Index climbed 2.3 per cent to 3,449.31 at the close, extending last week's 4.1 per cent increase. Li said Sunday the government will take additional steps if China's growth, which the government targeted at about 7 per cent this year, drifts toward the lower limit of its range and cuts into employment or wages. About 3 trillion yuan (S$676 billion) was set aside for initial public offerings last week, according to the median estimate in a Bloomberg survey of brokerages. "Li's positive tone on growth bolstered investor confidence," said Yen Chiu, a trader at Shenwan Hongyuan Group Co in Hong Kong. "Technology stocks are getting a boost on the economy's reliance on the sector for growth." The CSI 300 Index rose 2.4 per cent.