The benchmark Shanghai Composite Index, a major index of Chinese shares, exceeded 2,000 points Monday, the first time in five years.

Helped by the appreciation of the Renminbi, and an oil price drop, blue chips in the financial, petrochemical and other sectors maintained growth Monday, driving the stock index up 45.49 points to close at 2,017.28 points.

The Shanghai Composite Index tracks both yuan-denominated A shares and hard-currency B shares traded on the Shanghai Stock Exchange.

The hike followed previous records this month, when the index exceeded 1,900 points for the first time in five years.

The Shenzhen Component Index also performed well Monday, climbing to a nine-year closing high of 5,177.97 points on Monday, up 2.18 percent.

Accompanying big hikes in share prices, Shanghai and Shenzhen stock bourses registered the large trade volume of 33.9 billion yuan and 17.6 billion yuan respectively.

Business insiders say the excessive flow of funds in the global capital market and the Renminbi appreciation will continue to boost Chinese stock markets.

The exchange rate of the Renminbi against the U.S. dollar hit anew high last Monday, with the central parity rate at 7.8644 yuan to one dollar.

Chinese stock markets have experienced a four-year slump in contrast with the country's heated economic growth.

But last year, the government launched a reform of the stock market, making all shares of listed companies tradable. Previously, only about one third of shares in domestically listed firms were negotiable, which was thought to be a major factor in the sluggish markets.

This year, two of China's four largest state-owned commercial banks, the Industrial and Commercial Bank of China (ICBC) and the Bank of China (BOC), were listed on the mainland, becoming the two most heavily-weighted shares on the stock market.

Experts believe the markets are starting to serve as the barometer of the country's economic performance.