Alibaba
and other Chinese stocks were rallying on Wednesday after data showed that China is quickly leaving behind the lingering impacts of Covid-19 lockdowns, which spurred a slowdown in the world’s second-largest economy last year.
A key measure of Chinese growth marked its fastest expansion in more than a decade in February, with the official manufacturing purchasing managers index (
PMI
) rising to 52.6 last month from 50.1 in January. The February PMI came ahead of expectations and also marked the highest level since April 2021.
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