Chinese electric vehicle stocks in Hong Kong experienced a surge after reports of government initiatives to support the sector.
According to Xinhua News Agency, central government agencies issued a guideline on September 27 stating that new-energy vehicles should make up at least 30% of all new vehicle purchases annually.
The government is also promoting the development of charging infrastructure to facilitate the adoption and use of electric vehicles.
These measures are expected to greatly improve the growth prospects of the EV market in China, as the government continues to prioritize sustainable transportation solutions.