Alibaba Is Rallying. Chinese Growth Puts Lockdown Pain in the Past.


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 (


) 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.