David Tepper, the Carolina Panthers owner and founder of Appaloosa Management, recently told CNBC that he is going “all-in on China” after this week’s announcement of a range of stimulus measures aimed at boosting the country’s struggling economy.

Tepper said he saw potential for China to act after the Federal Reserve last week delivered an unprecedented rate cut of 50 basis points. However, the scale of the proposed measures from Beijing prompted him to go past his own self-imposed position limits.

“I thought that what the Fed did last week would lead to China easing. … I didn’t know that they were going to bring out the big guns like they did,” Tepper said.

“Everything…everything — ETFs, we do futures…everything. Everything. This is incredible stuff for that place, ok, so it’s everything.”

David Tepper is buying everything in China after the nation cut interest rates, reduced bank reserve requirements

China has recently cut interest rates, reduced bank reserve requirements, announced liquidity support for its stock market, and encouraged company stock buybacks.

CNBC’s Becky Quick said that a regulatory filing showed Tepper’s Appaloosa Management had cut back on Alibaba in the second quarter, and asked Tepper if he had re-upped his position. Tepper did not go into specifics but said he was optimistic on investing in China.

Furthermore, China’s central bank this week delivered a rate cut and announced a range of monetary easing measures. The Chinese Communist Party’s decision-making body has pledged additional measures as Beijing attempts to boost the economy.

According to MarketWatch, the latest advance for equities came after Bloomberg reported that China’s government was also considering a 1 trillion yuan ($142 billion) capital injection into the country’s big banks to encourage lending.

More importantly, Chinese stocks have soared. The CSI 300 has surged nearly 11% this week, while Hong Kong’s Hang Seng has jumped more than 9%, trading Thursday at its highest since July 2023. The SHANGHAI Index (SHCOMP) is also up 9.65% in the past five days.

The Dow Jones Industrial Average in the U.S. was up 141 points, or 0.3%, and S&P 500 gained 0.3%

In the U.S., the Dow Jones Industrial Average was up 141 points, or 0.3%. Additionally, the S&P 500 gained 0.3%, with both trading markets nearly posting record finishes on Tuesday. Exchange-traded funds that hold Chinese stocks were surging Thursday as well.

The iShares MSCI China ETF was trading 8.5% higher in morning trade, while the Invesco Golden Dragon China ETF surged 11.5% and the KraneShares CSI China Internet ETF soared 11%.

Per MarketWatch, Tepper said he would “love to see a pullback,” stating that he would have another “newfound” position limit after a market dip and provided the promised measures are implemented.

Tepper also added that major Chinese names offer “single digit P/E (price-to-earnings) multiples with double-digit growth…and this is the other thing, you have some of these stocks with 50% cash…20% cash, 30% cash.”

Of course, Tepper said he couldn’t care less about the proposed U.S. tariffs on China imported goods. He cited the “internal stimulus,” which is benefiting the Chinese markets, as the main reason. If the Chinese currency ends up strong, it will encourage stock buybacks.