Chinese stocks are still trading at their record highs after a surprise plunge on Wednesday.
But they are on track to exceed those heights again as the market continues to recover from a record-breaking collapse.
The Shanghai Composite is the most widely traded Chinese stock market index.
It traded up 2.6% Thursday and is up over 8% since early Friday morning.
China has lost more than $7 trillion in market value since January 1, according to Bloomberg data.
The market’s rally has taken place despite widespread fears of a recession that would hit Chinese exports and investment, and could also affect the rest of the world.
Ahead of the Shanghai market’s biggest rally in years, the Chinese central bank has been pushing for the country’s central bank to buy bonds to help stabilize the market.
In its latest statement, the central bank said it would buy $15 trillion of debt over the next five years to boost the economy.
The Chinese stock index has risen 4.2% over the past six weeks.
It closed Thursday at 18,096.62 points, up from 17,094.63 points in the week ending March 28, according the Shanghai Composite.
The S&P 500 rose 2.2%.
China’s stock market was one of the hottest markets in Asia after the U.S. presidential election.
China’s government announced a one-year ban on stocks and currency trading from April 15.