China has set aside 200 billion yuan ($28 billion) for investment projects by local governments this year, as it promised to meet its own ambitious economic growth targets.

Just a few weeks ago, many investors in China’s stock markets were ready to give up and eager to sell. Then late last month, traders rushed in to make bullish bets after the government’s leaders announced a series of steps to stimulate China’s faltering economy.

Investor sentiment has been boosted by Beijing’s recent package of stimulus measures across multiple policy fronts.