$Global X China Electric Vehicle and Battery ETF (02845.HK)$...

The investment objective of the Fund is to provide investment results that, before fees and expenses, closely correspond to the performance of the Solactive China Electric Vehicle and Battery Index. The Manager will primarily use a full replication strategy through investing directly in constituent stocks of the Index in substantially the same weightings in which they are included in the Index.
China's Ministry of Finance said in a statement that it will reduce the purchase tax for cars priced at RMB 300,000 and below, and with 2.0-litre engines or smaller to 5% from the previous 10%. The move will come into effect from June 1 through the end of 2022. It is expected that the tax reduction could boost automobile sales by 2m units in 2022. Previously, the authorities discussed with automakers about extending subsidies for EVs that were set to expire in 2022. There is no purchase tax for EVs this year, but the government could lower the planned purchase tax from 10% to 5% in 2023.
It provides exposure to China's EVs and related market leaders. The ETF's main components include the domestic largest EV maker, BYD, the global largest domestic EV battery maker, Contemporary Amperex Technology, and the domestic largest lithium miner, Ganfeng Lithium.
Shares have broken out of the downward channel and resumed the uptrend. Yesterday, the stock closed near an intraday high and closed above the 50dMA with an increase in volume. Maybe can buy around 138 for an upside to around 150.