KE Holdings Inc. (BEKE), a leading integrated online and offline platform for housing transactions and services in China, experienced a significant surge of 5.06% in its stock price during the pre-market trading session on Wednesday.
The rally came after China set an ambitious economic growth target of around 5% for 2025 and vowed to provide more support for domestic consumption and the tech industry. The government's announcement indicated its commitment to stimulating the economy and boosting key sectors amid a trade war with the United States.
In particular, Chinese policymakers promised a "special action plan" to stimulate consumption and set aside 300 billion yuan ($41.27 billion) to support a consumer subsidy program. Additionally, the government emphasized its support for the application of large-scale AI models, mentioning AI models for the first time in a government work report, which could benefit companies like KE Holdings Inc. operating in the tech and AI sectors.
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