China stocks surge as country sets 2024 economic targets

China stocks hit over three-month highs Tuesday after the country set its economic growth target at “around 5%” for 2024 during its “Two Sessions” meeting.

The country will boost its defense spending by 7.2% in 2024. It expects the inflation rate to rise to “around 3%.”

Hong Kong’s Hang Seng index led losses in Asia, down 2.65%, while the mainland China’s CSI 300 index ended 0.7% higher at 3,565.51, highest since late November.

Fidelity China Special Situations PLC (LON:FCSS), the UK’s largest China Investment Trust, capitalises on Fidelity’s extensive, locally-based analyst team to find attractive opportunities in a market too big to ignore.

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