Shares of Trip.com Group Limited (TCOM) surged 5% in pre-market trading on Wednesday, as the Chinese travel services company got swept up in a broad rally for Chinese stocks and American Depositary Receipts (ADRs) following Beijing's announcement of pro-growth policies.
At the annual National People's Congress meeting, Chinese Premier Li Qiang set an ambitious economic growth target of around 5% for 2025 and unveiled a series of measures to stimulate domestic consumption and support the tech industry. These policy announcements fueled optimism among investors, driving up Chinese stocks and ADRs listed in the United States.
The market reacted positively to China's plans, which included increasing fiscal spending, boosting infrastructure investment, and expanding a consumer subsidy program to revive sluggish spending. Additionally, policymakers pledged support for the application of large-scale AI models, signaling a favorable stance toward the tech sector.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.