China’s blue-chip CSI300 Index closed up 0.6%, while the Shanghai Composite Index rose 0.4%. Hong Kong’s benchmark Hang Seng Index was up 1.8%.

For the week, the CSI 300 Index lost 0.1%, while the Hang Seng Index dropped 0.4%.

Chinese leaders promised on Thursday to maintain a “proactive” fiscal policy next year that would stimulate both consumption and investment to sustain high economic growth, which analysts expect Beijing to keep the target at roughly 5%.

The tone appeared modestly more pro-growth than the December Politburo meeting, with policymakers highlighting challenges, pledging to stabilise the property sector and signaling further easing on monetary, fiscal and credit fronts, Goldman Sachs said in a note.

Goldman Sachs expects the 2026 policy targets to remain unchanged, including GDP growth of around 5%, CPI at about 2%, and an on-budget fiscal deficit equal to 4% of GDP.

Shares of Moore Threads Technology more than 10% after the Chinese GPU chip designer warned investors of trading risks following a recent rally. Even so, the onshore artificial-intelligence sub-index gained 1.1%.

Non-ferrous metal stocks led gains both onshore and offshore, rising 1.2% and 3.3%, respectively, as copper prices hit a record high and gold reached a one-month peak.

Hong Kong-listed tech majors were up 1.9%.

Chinese developer Vanke shares held steady ahead of a bondholder vote due to conclude later in the day.

Hong Kong’s Hang Seng Mainland Properties Index was up 0.5%.