Australian Treasurer Jim Chalmers on Friday welcomed Chinese efforts to stimulate its slowing economy, noting that its recent weakness has hurt Australia. Chalmers was wrapping up a two-day visit to Beijing,

The last week has been a “whole shift” from the Chinese government as it brings out the “big guns” policy-wise to support growth, hedge fund billionaire David Tepper told CNBC’s “Squawk Box” on Thursday morning, adding he’s buying “everything” he can get his hands on tied to Chinese equities.

KEY TAKEAWAYS U.S.-listed Chinese companies from Alibaba to Temu parent PDD and China-focused ETFs surged Thursday following reports of more bailouts for the country's suffering economy.Bloomberg reported that Beijing is planning to inject around $140 billion into its largest state lenders to prop up the economy.

Chinese stocks surge after government stimulus measures. Alibaba, JD.com, Baidu, and others see significant gains.

Alibaba is the largest among them, and its situation is improving.” Alibaba, owner of the South China Morning Post, is among a number of Chinese technology stocks that received a boost this week, following surprise market-support measures initiated by the People’s Bank of China that included mortgage rate cuts and an unprecedented US$114 billion stock-buying facility.