Alibaba, NIO, XPeng Stocks Climb. Chinese Businesses Get a Regulatory Boost.

Alibaba, XPeng and other popular U.S.-listed Chinese stocks were surging early Friday after Beijing proposed easing rules on cross-border data flows.

The Cyberspace Administration of China’s proposal would mean that data transfers relating to international trade, global manufacturing and marketing activities that don’t contain personal data no longer need to go through a security review. It’s seen as a move to boost business activity in the world’s second-largest economy, and is particularly good news for the country’s multinational companies.

U.S.traded Chinese technology stocks climbed ahead of the open, with Alibaba American depositary receipts up 2.2% and JD.com ADRs rising 3%. China’s electric-vehicle makers were also given a boost– Nio and XPeng both rose 3.5%, while Li Auto jumped 2.2%. “Over the past two years, the PIPL and the cross-border rules have posed tremendous challenges for businesses. These carve-outs will come as a huge relief to them,” Angela Zhang, a law professor at the University of Hong Kong, said in a post on X.

She added that the implications go beyond data transfers, and said the proposal “clearly aims to send a strong pro-growth signal to the market and inject more confidence in businesses.”Write to Callum Keown at callum.keown@barrons.com

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Exclusive: China's Nio explores investment, tech alliances with MercedesNio has held exploratory talks with Mercedes-Benz for a tie-up that would see the German automaker invest in the Chinese electric vehicle startup in exchange for technology, two people with direct knowledge of the matter said.
Fuente: Reuters - 🏆 2. / 97 Leer más »

Exclusive-China's Nio explores investment, tech alliances with MercedesExclusive-China's Nio explores investment, tech alliances with Mercedes - sources
Fuente: Investingcom - 🏆 450. / 53 Leer más »

Costco share fall following results, while Cardiff Oncology and MillerKnoll shares soar, and more moving stocksCostco shares dipped in premarket trading on Wednesday, alongside TrueCar and Morphic Holdings. On the upside, Cardiff Oncology and MillerKnoll shares surged.
Fuente: MarketWatch - 🏆 3. / 97 Leer más »

The stock market can't catch a break. Good news is bad news, and now bad news is bad news, too.Right now, stocks fall on good economic news and bad economic news too.
Fuente: MarketWatch - 🏆 3. / 97 Leer más »

Hong Kong to issue guidance on tokenizing stocks ‘in near term'Christina Choi, an SFC official, said the regulator is working on more detailed guidance on the tokenization of investment products.
Fuente: TheBlock__ - 🏆 464. / 53 Leer más »