China shares stretched gains to multi-month highs on Wednesday, lifted by strength in non-banking financials that offset weakness in property after a plan to tackle inequality included an expansion of a property tax pilot program to more cities.

The CSI300 of the top Shanghai and Shenzhen A-share listings ended up 0.2 percent at 2,775.8, its highest close since September 2011. The Shanghai Composite Index stretched its winning streak into an eighth day, ending up 0.1 percent at its highest since May 2012.

Insurers were bolstered by a Chinese news report that the mainland regulators are planning to raise the minimum registered capital requirement for insurers to improve the performance of the insurance market.