Lian Chuang Optoelectronic's 2024 Profit Slides 28%

Chinese shares finished higher on Tuesday, buoyed by the government's new economic growth targets unveiled during the National People's Congress.

The Shanghai Composite Index, the main gauge of Chinese stocks, climbed 0.5%, or 17.75 points, to close Wednesday's session at 3,341.96. The Shenzhen Component Index inched 0.3% higher, or 30.02 points, to 10,709.46.

Premier Li Qiang's announcement of a projected 5% gross domestic product growth for the year injected a wave of optimism into the market.

Adding to the positive sentiment, Beijing revealed plans to issue 1.3 trillion yuan in ultra-long special treasury bonds. This move is expected to stimulate investment and support infrastructure projects, further contributing to economic expansion.

The government also outlined other key economic targets, including a 4% deficit-to-GDP ratio, a 5.5% urban unemployment rate, and a 2% consumer price index. These targets collectively aim to maintain stability and promote sustainable growth.

The positive market reaction was reflected in the performance of individual companies. Harbin Boshi Automation climbed 3.7% after signing an 88.5 million yuan supply deal.

Jiangxi Lianchuang Optoelectronic Science and Technology closed 3.5% amid plans to buy back shares of up to 150 million yuan.

Jiangsu Gian Technology rose 4.4% after its auto parts-manufacturing unit, Changzhou Ruidian Precision Technology, changed its name to Jiangsu Jingyan Intelligent Driving System.

Chinese shares finished higher on Tuesday, buoyed by the government's new economic growth targets unveiled during the National People's Congress.

The Shanghai Composite Index, the main gauge of Chinese stocks, climbed 0.5%, or 17.75 points, to close Wednesday's session at 3,341.96. The Shenzhen Component Index inched 0.3% higher, or 30.02 points, to 10,709.46.

Premier Li Qiang's announcement of a projected 5% gross domestic product growth for the year injected a wave of optimism into the market.

Adding to the positive sentiment, Beijing revealed plans to issue 1.3 trillion yuan in ultra-long special treasury bonds. This move is expected to stimulate investment and support infrastructure projects, further contributing to economic expansion.

The government also outlined other key economic targets, including a 4% deficit-to-GDP ratio, a 5.5% urban unemployment rate, and a 2% consumer price index. These targets collectively aim to maintain stability and promote sustainable growth.

The positive market reaction was reflected in the performance of individual companies. Harbin Boshi Automation climbed 3.7% after signing an 88.5 million yuan supply deal.

Jiangxi Lianchuang Optoelectronic Science and Technology closed 3.5% amid plans to buy back shares of up to 150 million yuan.

Jiangsu Gian Technology rose 4.4% after its auto parts-manufacturing unit, Changzhou Ruidian Precision Technology, changed its name to Jiangsu Jingyan Intelligent Driving System.

Jiangxi Lianchuang Optoelectronic Science And Technology plans to repurchase shares worth between 100 million yuan and 150 million yuan, according to a Shanghai Stock Exchange disclosure on

The repurchase price of each share will not exceed 70 yuan and the shares will be repurchased within 12 months after shareholders' approval.

The buyback will reduce the capital of the Chinese manufacturer of photoelectric components and telecommunication cables to 451.4 million shares from 452.1 million shares after the repurchased shares are cancelled.

The company's shares rose more than 3% in recent trade.

Jiangxi Lianchuang Optoelectronic Science And Technology plans to repurchase shares worth between 100 million yuan and 150 million yuan, according to a Shanghai Stock Exchange disclosure on

The repurchase price of each share will not exceed 70 yuan and the shares will be repurchased within 12 months after shareholders' approval.

The buyback will reduce the capital of the Chinese manufacturer of photoelectric components and telecommunication cables to 451.4 million shares from 452.1 million shares after the repurchased shares are cancelled.

The company's shares rose more than 3% in recent trade.