AsianFin--Billionaire investor David Tepper is ramping up his investments in “everything” related to China after Beijing introduced a wave of stimulus measures that exceeded expectations.

Tepper, founder of Appaloosa Management, attributed his bullish stance on Chinese assets to the recent policy shifts by China’s top leadership. “I expected some easing after the Fed’s actions last week, but I didn’t anticipate the scale of the measures Beijing unveiled,” he said in a CNBC interview on Thursday.

In the second quarter, his hedge fund retained most of its positions in Chinese companies acquired earlier in the year, even as it reduced stakes in Alibaba Group Holding Ltd. and several U.S. tech giants.

Following China's renewed efforts to spur growth with commitments to fiscal spending and stabilize the property market, Tepper is once again increasing his holdings in Chinese stocks, including tech giants Alibaba and Baidu Inc.

“We’ve extended our positions in Chinese stocks,” Tepper noted, citing attractive valuations despite recent price increases as a key reason for his continued buying.