Chinese tech stocks flat amid China setting growth targets


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Chinese tech stocks, including Alibaba (NYSE:BABA) and Baidu (NASDAQ:BIDU), were largely flat on Tuesday amid the annual gathering of China's National People's Congress to set economic priorities for the year. Alibaba (BABA) +0.2%, Baidu (BIDU) -1%, Bilibili (BILI) -1%, (JD) -2% and NetEase (NTES) -3%. The Chinese government announced a GDP growth target of "around 5%" (with a CPI of about 3%). The Asian nation also named some specific industries for innovation which include "new energy cars" and "new material," and pointed to development plans for quantum computing, big data and artificial intelligence, or AI. Premier Li Qiang said...