Why Shares of Baidu, XPeng, and RLX Technology Are Rising This Week

Shares of Chinese stocks rallied this week as the Chinese government took steps that showed it is adopting a more lenient regulatory approach and trying to boost economic growth after what was a difficult year in 2022. For the week, shares of the large Chinese search engine and artificial intelligence company Baidu (NASDAQ: BIDU) traded more than 15% higher as of 12:47 p.m. ET Thursday, according to data from S&P Global Market Intelligence. Meanwhile, shares of the Chinese electric carmaker XPeng (NYSE: XPEV) are trading roughly 20% higher, and shares of the Chinese vaping company RLX Technology (NYSE: RLX) were up 17%.