Shares of various Chinese companies, such as Bilibili Inc - ADR BILI and Baidu Inc BIDU, are trading higher Monday following China's commitment to optimize the business environment for private businesses ahead of the Politburo meeting later this week.
China's National Development and Reform Commission NDRC, NDRC, released a 17-Point statement on Monday that included pledges to support private investment in transportation, clean energy, new infrastructure, advanced manufacturing and real estate. The latest move followed a series of recent measures aimed at boosting the Chinese economy.
Last week, the Communist Party of China Central Committee and the State Council of China pledged to apply equal treatment and standards to private companies and state-owned organizations, saying the country will help to strengthen the private economy.
The People's Bank of China and the State Administration of Foreign Exchange changed their cross-border financing regulations on Thursday to allow for increased borrowing from foreign sources.
The Chinese names that are at an all-time high on the China Web site include JD.Com, JD.Com, and KraneShares CSI China Internet ETF KWEB.
Benzinga Pro notes that shares of Bilibili are trading 13.8% higher at $17.60 and that shares of Baidu are trading 5.6 percent higher at $149.42. The KWEB is trading 5.23% higher at $29.65, and JD.com shares are trading 4.3% higher at $29.65.