Chinese stocks rose on Monday as the country's stock markets reopened after the week-long Spring Festival holiday.

The ChiNext Index, China's Nasdaq-style board of growth enterprises, jumped almost 3 percent at market open and ended the day up 1.08 percent.

The Shanghai Composite Index edged up 0.14 percent, and the Shenzhen Component Index climbed 0.98 percent at market close.

Official data showing a recovery in China's domestic tourism and box office over the Chinese New Year holiday buoyed investor sentiment.

Financial institutions predict a strong recovery of A-share performance in the new year. Sectors such as home appliances, food and beverages, computer software, new energy vehicles are all expected to perform well.

U.S. investment bank Goldman Sachs raised its target for the MSCI China Index twice in January due to the brightening economic outlook.

The bank also revised its forecast for China's 2023 GDP growth to 5.5 percent, up from its November prediction of 4.5 percent.