Jingu Finance News | Auto stocks are strong, with Li Auto Inc (02015) up 6.49%, Xpeng (09868) up 5.61%, NIO Inc (09866) up 5.11%, BYD Company (01211) up 4.66%, Great Wall Motor (02333) up 4.21%, and Leapmotor (09863) up 4.13%.
On the news front, on August 29, the General Office of the People's Government of Guangdong Province recently issued a notice on the implementation of the 'Special Long-Term Treasury Bond Funds to Support Consumption Upgrades' ('The Plan'). The Plan proposes support programs in eight areas, including old-for-new policies for household appliances and autos, scrappage and replacement of old commercial vehicles, replacement and update of new energy public buses and power batteries, scrappage and replacement of old agricultural machinery, replacement and update of personal consumer passenger vehicles, old-for-new electric bicycles, as well as renovations for old houses, kitchens, bathrooms, home-based elderly care, and more.