Alibaba Group Holding Limited BABAalso known as China’s tech barometer, continued to rise on Monday as China announced its stimulus plans last week.

China’s central bank plans to cut banks’ reserve requirement ratio (RRR) by 50 basis points, or half a percentage point. There are also plans to reduce the 7-day reverse repurchase rate from 1.7% to 1.5%.

Also read: Alibaba follows Amazon and Walmart and is investing $5.7 billion in the holiday sales offensive

Shawn Yang of Arete Research told SCMP that he expects Alibaba, China’s leading e-commerce stock, to be the main beneficiary of the stimulus measures.

Yang said Alibaba’s cloud services and international expansion further strengthen its position. According to recent reports, Alibaba is working with Nvidia Corp NVDA to improve the autonomous driving experience of Chinese smart vehicle companies Li Auto Inc LI. Alibaba has also collaborated with XPeng Inc XPEV.

Appaloosa Management founder David Tepper expanded his exposure to China through Alibaba. JD.com Inc JD, Baidu Inc BIDUAnd PDD Holdings Inc PDDaccording to a CNBC interview. Shares of JD.com, Baidu and PDD are also trading higher on Monday.

Last week, Alibaba and JD.com opened their walled gardens to address the drop in demand. The Taobao and Tmall platforms integrated JD.com’s logistics services.

JD.com agreed to use Alibaba’s logistics network Cainiao Global Express and Cainiao Stations and added Alipay, Alibaba’s fintech arm, as a payment option.

Alibaba shares are up 20% in the last 5 days. Investors can invest in the stock through the following Avantis Emerging Markets Equity ETF AVEM And Global X Artificial Intelligence and Technology ETF AIQ.

Price action: BABA shares were up 4.16% at $111.79 in the premarket on Monday at last check.

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