Shares of iQIYI Inc., the leading online video platform in China, soared in premarket trading on Wednesday, riding on a wave of optimism surrounding potential stimulus measures by Beijing to support economic growth.

The premarket rally was fueled by comments from Chinese leaders on Thursday, who pledged to deploy "necessary fiscal spending" to meet this year's economic growth targets. This revived hopes of additional stimulus measures, which could provide a much-needed boost to domestic demand and economic activity across various sectors.

The prospect of fresh stimulus appeared to lift sentiment across U.S.-listed Chinese stocks, with companies in e-commerce, gaming, online education, and electric vehicles all witnessing significant premarket gains. IQ's stock surged over 11% in premarket trading, reflecting investor optimism that stimulus measures could drive increased consumption and support its online video streaming business.