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home / news releases / DIDI - Alibaba JD.com Baidu surge as China may end crackdown to help ailing economy: report

DIDI - Alibaba JD.com Baidu surge as China may end crackdown to help ailing economy: report

DiDi Global Inc. American Depositary Shares (each four representing one Class A)
Alibaba (NYSE:BABA), JD.com (NASDAQ:JD) and Baidu (NASDAQ:BIDU) surged in premarket trading on Friday after a Chinese state-run news outlet reported that the Chinese government may end its regulatory crackdown on internet companies in an effort to help the suffering economy. The South China Morning Post, citing two sources briefed on the situation, reported that the government will have a symposium with the country's largest tech firms and tell them that they will stop the regulatory push. The symposium has reportedly been set for Labour Day holiday, which starts on April 30 and runs until May 4. Alibaba (BABA), Tencent (OTCPK:TCEHY), online deliver service platform Meituan and TikTok's parent company, ByteDance (BDNCE), are invited to the symposium, the news outlet added. Alibaba (BABA), JD.com (JD) and Baidu (BIDU) shares surged, all gaining more than 10% in premarket trading, led by JD.com's 13.5% gain. A number of other Chinese tech stocks jumped early Friday as

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Alibaba, JD.com, Baidu surge as China may end crackdown to help ailing economy: report
Stock Information
Company Name: DiDi Global Inc. American Depositary Shares (each four representing one Class A)
Stock Symbol: DIDI
Market: NYSE
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