US Stock Market Move | Chinese new energy vehicle stocks rise, Li Auto, Inc. Sponsored ADR Class A (LI.US) surges over 9%.

On Tuesday, Li Auto, Inc. Sponsored ADR Class A (LI.US) stock price rose, as of the time of writing, the stock increased by over 9%, reaching $20.77. Chinese new energy vehicle stocks all rose, with NIO Inc. Sponsored ADR Class A (NIO.US) rising by over 4%, XPeng, Inc. ADR Sponsored Class A (XPEV.US) rising by over 4.7%. In terms of news, the China Banking and Insurance Regulatory Commission issued a notice on promoting non-bank financial institutions to support large-scale equipment updates and consumer goods exchange programs. The notice proposes to increase auto financial services to support car exchanges. It encourages auto finance companies and financial companies engaged in auto finance business to increase financing support for municipal transportation companies, facilitate the promotion and application of new energy vehicles, promote the electrification of city buses, and the replacement and upgrade of old new energy buses and power batteries. Under the premise of legal compliance and controllable risks, it encourages appropriately reducing the down payment ratio for car loans, determining the car loan term and credit limit reasonably, and lowering the threshold for car consumption. It encourages enriching the supply of auto finance products, providing consumers with financial services such as car replacement continuation loans in the vehicle replacement process, appropriately waiving early repayment default fees, and supporting car exchanges. It also encourages strengthening cooperation with auto manufacturers, striving for interest subsidies, and enhancing consumer access.