China NEV shares rise after state planner signals removal of curbs

Baic Motor

21/01/2022 02:49

** Shares of Chinese new energy vehicle (NEV) manufacturers
and their suppliers rise after China's state planner said it
would gradually remove curbs on NEV purchases
    ** The National Development and Reform Commission (NDRC)
said in a document that curbs such as licence plate quotas would
be phased out across the country to promote NEVs and "green
consumption"  urn:newsml:reuters.com:*:nL1N2U102C
    ** The CSI New Energy sub-index  .CSI399808  rises 1% and
the New Energy Vehicle sub-index  .CSI399976  gains 0.9%,
compared with a 1.25% drop in the automobiles sub-index
 .CSI930607     
    ** BYD Co Ltd  002594.SZ  rises 0.86%, Geely Auto  0175.HK 
is up 0.62% while BAIC Motor  1958.HK  climbs 1.24%
    ** The CSI300  .CSI300  slides 0.55% and Hong Kong's Hang
Seng  .HSI  falls 0.1%

    

 (Reporting by Andrew Galbraith)
 ((Andrew.Galbraith@tr.com))