China Targets Ambitious 5% Annual Growth Target, CK Hutchison Sell Panama Ports

Li Chen
05 Mar, 2025
Hong Kong

Benchmark indexes in China and Hong Kong advanced, and investors reviewed the annual targets set by lawmakers at the annual gathering. 

The Hang Seng index soared 1.7%, and the broader CSI 300 index gained 0.3%, amid cautious optimism about additional fiscal measures to support economic growth and consumer confidence. 

Premier Li Qiang set an annual economic growth target of around 5% and lifted the budget deficit goal of 4%, higher than the long-standing 3% level.

The economic growth rate confirmed the government's resolve in keeping the economy expanding despite the U.S. tariffs and rising trade barriers. 

Investors are hoping that the People's Bank of China will provide additional monetary stimulus, as the ambitious economic growth target may need more support from increased lending by banks to consumers and businesses.

 

China Indexes and Stocks 

The Hang Seng index soared 1.7% to 23,320.36, and the broader CSI 300 index advanced 0.3% to 3,897.79. 

CK Hutchison Holdings soared 21% to HK $46.85, and the company agreed to sell 43 ports around the world, including 2 in Panama, for $23 billion to a consortium. 

A group of investors led by BlackRock, Global Infrastructure Partners, and Terminal Investment Ltd. will acquire an 80% stake in Hutchison Ports Group. 

The Hong Kong-based diversified conglomerate agreed to sell its 90% stake in two ports in Panama after the White House stepped up pressure to regain control of U.S. trade routes. 

The consortium led by the U.S. and Swiss investors will acquire a total of 43 ports with 199 berths in 23 countries. 

The deal does not include ports controlled by the group in Hong Kong and China.