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PRE-MARKET CHINESE STOCKS NEWS: China set official growth target for 2025 at 4.5%-5.0%, as expected (prev. around 5%)

ByNewsquawk Staff

CATL (300750 CH) - Co. is set to increase the use of AI in research and development, according to its founder and chairman. (SCMP)

COSCO Shipping (1919 HK) - Co. has suspended new bookings on certain routes amid the escalating Middle East conflict. (Newswires)

China Power International Development (2380 HK) - Co. reported January electricity sold of 10.5TWh vs 10.0TWh Y/Y. (Newswires)

Uni-President China Holdings (220 HK) - Co. FY25 (CNY) net 2.05bln (exp. 2.21bln), rev. 31.7bln (exp. 32.2bln). (Newswires)

Xiaomi (1810 HK) - Co. plans to launch a new smartphone chip every year. (CNBC)

Other News

China targets 2026 GDP growth at 4.5%-5.0% (exp. 4.5%-5.0%, prev. ‘around 5%’) and CPI at around 2%, while it plans to issue CNY 800bln in new policy financing tools and aims to create more than 12mln urban jobs. Furthermore, it targets 7% annual growth in R&D spending, plans a budget deficit of around 4% of GDP, and will issue CNY 4.4tln in special local government bonds and CNY 300bln in special sovereign bonds for banks, while it will also establish a CNY 100bln fiscal-financial coordination fund to support domestic demand. (Newswires)

Data Recap

  • Hong Kong Retail Sales Value Y/Y (Jan) 5.5% vs Exp. 4.2% (Prev. 6.6%)
  • Hong Kong Retail Sales Volume Y/Y (Jan) 3.4% vs Exp. 3.0% (Prev. 5.1%)
Context
China has set its official GDP growth target for 2025 at 4.5%-5.0%, aligning with expectations but down from the previous target of around 5%. This indicates a cautious approach amidst ongoing domestic and global economic challenges, suggesting potential implications for monetary policy and consumer sentiment. Additionally, the commitment to substantial fiscal measures could support domestic demand, influencing market outlook.
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