Chinese Stocks Rally on Economic Data, Government Support at Annual Meeting

Chinese stocks rallied on positive economic data and government support announced at annual parliamentary meeting
Consumer price index rose 0.7% in February, showing improved demand during Lunar New Year
Government targeting 5% GDP growth in 2023 and announced more economic support measures
Alibaba, JD.com, and PDD Holdings shares climbed between 1-5% on improved economic outlook
Competition remains high in Chinese e-commerce, but depressed valuations mean stocks react strongly to any positive signs