China's stock markets have been on a tear so far this year, amid optimism about a possible trade deal with the U.S. and hopes that the economy may be bottoming out.

As of Tuesday's close, the Shanghai composite has skyrocketed more than 30 percent since its last close in 2018. The Shenzhen component has also seen massive gains of more than 40 percent in the same period. The CSI 300, which tracks the largest companies listed on the mainland, has similarly jumped beyond 35 percent.

In comparison, the Dow Jones Industrial Average and have risen more than 13 percent and 15 percent, respectively.

Last year, Chinese markets experienced their worst performance in a decade, with the Shanghai composite ending 2018 approximately 24.6 percent lower than the previous year.

Beijing on Wednesday reported better-than-expected economic growth for the first quarter of 2019 — a move that could lift market sentiment even higher. The latest GDP numbers showed the world's second-largest economy grew 6.4 percent year-on-year in the first three months of this year, topping the 6.3 percent that analysts polled by Reuters had expected.

A slew of recent data — compiled privately and from official sources — have also pointed to an improvement in the Chinese economy, thanks in part to Beijing's raft of stimulus measures. In March, China reported export numbers that topped estimates, and manufacturing activity that unexpectedly grew.