Chinese bluechip and Hong Kong stocks ended higher on Thursday, after China's securities watchdog vowed to deepen market reforms and improve the quality of listed companies.

** China's bluechip CSI300 index rose 0.1% to close at 3,054.43, though the Shanghai Composite Index fell 0.5% to 3,054.43.

** Hong Kong's Hang Seng index added 2.7% to 19,679.22.

** The China Securities Regulatory Commission (CSRC) said in a statement late on Wednesday that the economy will recover as strong stimulus policies take effect, boding well for China's capital markets.

** China is now grappling with a surge in infections after Beijing dropped its strict zero-COVID policy, but the CSRC said it's fully confident toward the "bright future" of China's economy.

** The CSRC will push for an expansion of the mainland-Hong Kong Stock Connect scheme, implement offshore listing reforms, and deepen cooperation with Hong Kong's capital markets.

** Earlier in the week, Chinese and Hong Kong securities regulators said that they have agreed in principle to further expand the scope of eligible stocks under the mainland-Hong Kong Stock Connect.

** The Hang Seng Tech Index jumped as much as 5.2%, as investors were encouraged by CSRC's vows to support private firms and technology platform companies.

** Alibaba Group Holding, Bilibili Inc and Xpeng Inc all rose sharply.

** The CSRC said it will fast-track greenlighting of the first offshore listing by a "platform" company under China's new approval system.

** Property shares also rose, after the CSRC reiterated its support to the struggling sector.

** In China, tourism and Food & Beverage stocks rose.

** "Consumer confidence should rebound after the initial wave passes, though that may take several months," said Ernan Cui, analyst, Gavekal Dragonomics.

** "Households have amassed substantial savings during the pandemic and may start to spend down those stockpiles." (Reporting by the Shanghai Newsroom; Editing by Rashmi Aich)