Chinese shares continued the downward trend of the previous trading day on profit taking to open lower Friday, but airline equities rose across the board on anew pricing mechanism of fuel surcharge to take effect this weekend.

The benchmark Shanghai Composite Index fell 0.26 percent to open at 3164.65 points. The Shenzhen Component Index shed 0.3 percent to open at13, 140.47 points.

A new pricing mechanism of fuel surcharge that links it with airlines' jet fuel costs has been introduced to start from Nov. 14,in a bid to offset rising jet fuel costs, China's top economic planner announced Thursday.

Air China added 0.86 percent to open at 8.19 yuan (1.2 U.S dollars) per share, and China Eastern Airlines rose 0.66 percent to open at 6.1 yuan per share.

China raised gasoline and diesel prices both by 480 yuan per tonne from Tuesday. Experts held that fuel costs account for 40 percent of Chinese leading airline companies' total costs.