Reports surfaced this morning stating Chinese regulations were set to ease considerably, with many U.S.-listed Chinese stocks showing notable gains in morning trading. JD.com (JD Quick QuoteJD - Free Report) rose nearly 8% in the first hour before paring gains.

Chief Executive Xin Lijun recently noted consumers are curbing discretionary spending, but pointed to a potential recovery as we make our way into the second half of this year. But as both retail and tech companies have struggled lately, is JD worthy of a bullish position?

JD is currently a Zacks Rank #3 (Hold) stock. The Chinese e-commerce company has consistently beaten earnings estimates over the past four quarters. JD shares appear to have bottomed ahead of the market in March The stock is up over 53% since then and is making higher highs.

Make sure to keep an eye on JD as well as the Chinese internet industry.