Chinese tech stocks are rising as the threat of delisting recedes, amid strong earnings from Baidu and Pinduoduo

$PDD Holdings(PDD.US)$ delivered earnings of $1.33 billion on revenue of $4.7 billion for its most recent quarter. Both figures handily beat analyst estimates.

$Baidu(BIDU.US)$ had a net income of $543 million, $1.49/share under GAAP, on revenue of $4.4 billion. The stock is now up 2.45% on the year. Shares rose on the strength of Baidu’s cloud operations in what CEO Robin Li called “a challenging macro environment.”