Chinese markets clocked their best week in almost 16 years as the mainland’s CSI 300 rallied 15.7% this week, buoyed by several economic stimulus measures by the central bank.

The CSI 300, which tracks Shanghai and Shenzhen stocks with major market capitalizations, posted a weekly gain of 15.7%, its best performance since 2008. Hong Kong's Hang Seng Index surged 13% this week, its best showing since 1998, according to earliest available data on information service Wind.