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Why Alibaba, Baidu, and Other Chinese Stocks Rallied on Wednesday

Why Alibaba, Baidu, and Other Chinese Stocks Rallied on Wednesday

While there was some company-specific news, it appears the broader economic and regulatory developments ultimately drove the stocks higher. Today marked the second day of gains after Chinese officials responded to widespread demonstrations in China to protest lockdowns resulting from the government's zero-COVID policy. In a press conference on Tuesday, government health authorities announced steps to increase the vaccination rate among China's elderly population.