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

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)

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)

• 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%)