Chinese ADRs jumped in morning trading on Tuesday after China’s second-quarter economic growth came in above expectations and Nvidia Corp. said it would restart some chip sales to China.

YINN rose 3%; Kingsoft Cloud rose 17%; GDS Holdings rose 12%; Baidu rose 8%; Alibaba rose 6%; Bilibili rose 5%; JD.com rose 4%; PDD Holdings rose 3%; NetEase, Tencent Music, and XPeng rose 2%; NIO rose 1%.

China's economy grew at a slightly faster pace than expected in the second quarter, showing resilience in the face of U.S. tariffs, though analysts warn of intensifying headwinds that will ramp up pressure on policymakers to roll out more stimulus.

Data on Tuesday showed China's GDP grew 5.2% in the April-June quarter from a year earlier, slowing from 5.4% in the first quarter, but just ahead of analysts' expectations in a Reuters poll for a rise of 5.1%.

Meanwhile, Nvidia plans to resume sales of its H20 AI chip to China after securing Washington’s assurances that such shipments would get approved, a dramatic reversal from the Trump administration’s earlier stance.

US government officials told Nvidia they would green-light export licenses for the H20 artificial intelligence accelerator, the company said in a blog post. That China-specific variant was created to comply with earlier trade curbs, but has since April also been blocked from sale in the country without a US permit. Billionaire co-founder Jensen Huang appeared on Chinese state broadcaster CCTV shortly after Nvidia announced the decision, saying the company had secured approval to begin shipping.

The US move comes after weeks of thawing relations between Washington and Beijing, guided by an opaque truce that’s designed to see both sides approve exports of crucial technologies. The US wants China to allow more sales of essential rare-earth minerals, and in exchange is lifting a spate of recent export controls that were imposed in the lead-up to last month’s trade talks in London. Throughout those talks, President Donald Trump’s team insisted that controls on Nvidia’s H20 chips were not up for discussion.

It marks a massive win for Huang, who has branded Washington’s chip curbs a “failure” that fueled the rise of Huawei Technologies Co. And it’s a boon to Chinese companies from DeepSeek to Alibaba Group Holding Ltd. that need Nvidia chips to train, expand and host the AI services they’re building to compete with the likes of OpenAI.