(Yicai Global) Sept. 9 -- Stock markets on the Chinese mainland opened higher this morning after the nation's central bank cut the reserve requirement ratio at the end of last week.

The Shanghai Composite Index started 0.81 percent higher at 3,023.78. The Shenzhen Component Index began 0.85 percent up at 9,907.13, and the ChiNext Price Index, which tracks growth enterprises listed in Shenzhen, opened 0.64 percent higher at 1,702.99.

The People's Bank of China announced on Sept. 6 that it planned to cut the RRR for financial institutions by 50 basis points on Sept. 16 in an effort to bolster the economy.