Shares of iQiyi Inc., the leading online video platform in China, soared by 13.79% on Wednesday, fueled by optimism surrounding potential stimulus measures from the Chinese government to support economic growth.

The rally was sparked 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, including the online video streaming industry.

Analysts suggest that fresh stimulus measures aimed at boosting consumer spending could directly benefit iQiyi's business, as increased consumption could drive demand for its online video services. The prospect of a potential tailwind for iQiyi's operations has ignited investor enthusiasm, propelling the stock to significant gains in premarket trading.