China Stocks Rally as Annual Political Event Boosts Market Sentiment

Chinese stocks, including Alibaba, JD.com, and PDD Holdings, rallied after China's annual parliamentary meeting and promising economic data. Beijing's plans to support the economy and its target of 5% economic growth for the year also boosted investor confidence. Despite recent struggles, these stocks saw gains, with JD.com leading the way with a 5.5% increase. However, the Chinese economy still faces challenges, and the intense competition in e-commerce will lead to winners and losers.