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Chinese stocks rise on ambitious growth target, tech support

Bloomberg
Bloomberg • 3 min read
Chinese stocks rise on ambitious growth target, tech support
The strong showing came as Chinese leaders kicked off the NPC by maintaining its growth goal of about 5%, a target seen harder to achieve this year given rising trade tensions with the US and unabated geopolitical uncertainties. Photo: Bloomberg
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Chinese stocks gained, with technology firms driving the advance after Beijing vowed more support and set an ambitious economic growth target at the nation’s most important annual political meeting.

A gauge of shares listed in Hong Kong rose as much as 3.4%, with a tech index up 4.1%. The CSI 300 Index, a benchmark of onshore shares, ended the day 0.5% higher.

The MSCI China Index added 2.5%, heading for its first gain in six years on the first trading day of the National People’s Congress (NPC), the equivalent of the country’s parliament.

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