Chinese shares closed up midday Wednesday with the benchmark Shanghai Composite Index up 0.76 percent, or 22.36 points, to 2,957.07 points.

The Shenzhen Component Index gained 0.67 percent, or 79.45 points, to 11,992.37 points.

Insurers led the rise. China Life Insurance Co., the country's largest, edged up 2.81 percent to 27.44 yuan (4.02 U.S. dollars) in Shanghai.

Ping An Insurance (Group) Co., China's second-largest insurance company, climbed 3.48 percent to 49.10 yuan. China Pacific Insurance (Group) Co., the country's third largest, expanded 1.53 percent to 15.95 yuan.