Chinese stocks opened lower on Wednesday, with the benchmark Shanghai Composite Index down 1.66 percent at 2,780.70 points.

The Shenzhen Component Index decreased 1.96 percent, dropping to 9,024.72 points.

The ChiNext Index, China's NASDAQ-style board of growth enterprises, plunged 1.91 percent on Wednesday, sinking to 1,562.59 points.