China is set to benefit from lifting stringent COVID restrictions as its economic recovery gains momentum, outpacing the broader region. Hence, it could be wise to add robust China stocks NetEase, Inc. (NTES), Yum China Holdings, Inc. (YUMC), and LexinFintech Holdings Ltd. (LX) to your watchlist. Let us discuss this in detail.
China's economy experienced a notable acceleration, surpassing expectations in the fiscal first quarter. The lifting of stringent COVID restrictions proved instrumental in revitalizing businesses and empowering consumers. The country’s first-quarter GDP grew by 4.5% year-over-year, surpassing the 2.9% growth in the previous quarter.
