November 21, 2024 at 02:21 am EST
(MT Newswires) -- Chinese stocks moved marginally on Thursday after economic advisers asked the government to set a 5% target growth for 2025.
The Shanghai Composite Index, the main gauge of Chinese stocks, increased 0.072% or 2.41 points, to 3,370.40. The Shenzhen Component Index fell 0.068%, or 7.31 points, to 10,819.88.
Four of the six advisers interviewed by Reuters suggested that government set a 5% economic growth target by 2025, while one recommended a target above 4%, and another sought a range of 4.5% to 5%.
The advisers, who are not decision-makers, will submit their recommendations to the closed-door annual Central Economic Work Conference in December, before China announces its economic targets during the March 2025 annual parliamentary meeting.
Meanwhile, economists polled by Reuters believe the US could levy nearly 40% tariffs on Chinese imports beginning early in 2025. They also said US President-elect Donald Trump will not impose a sweeping 60% tariff on Chinese imports at the start of his term, and instead set at a median rate of 38%.
On the corporate front, Ccoop (SHE:000564) shares closed 10% higher in Shenzhen after it announced plans to buy a 51% stake in retail company Beijing Xinhezuo Commercial Development for 1.51 billion yuan.
Sumber : MT Newswires
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