US Stock Market Move | Hong Kong will promote cross-border low-altitude flight activities within the Greater Bay Area. EHang Holdings Ltd. Sponsored ADR Class A (EH.US) surged nearly 10%.

On Wednesday, the stock price of EHang Holdings Ltd. Sponsored ADR Class A (EH.US) rose by nearly 10%, reaching $17.385 as of the time of writing. On the news front, the Hong Kong government's policy address announced the establishment of a "low-altitude economy development working group". Today (12th), the Deputy Financial Secretary of the Hong Kong SAR Government, Tony Wong, convened the first meeting of the working group as the leader. During the meeting, the working group discussed the overall development strategy and work plan for the low-altitude economy in Hong Kong. The directions of the work include: 1. The SAR government will collaborate with the industry and partner organizations to gradually implement "regulatory sandbox" pilot projects starting early next year. The first phase is expected to focus on drone delivery services, relaxing "beyond visual line of sight" restrictions, and gradually expanding and enriching the applications of low-altitude flights. 2. The SAR government will consider laws and standards from the Mainland and other regions, taking into account current needs and long-term development. This includes updating existing civil aviation regulations, researching regulatory systems for larger drones (those weighing over 25 kilograms), with the goal of submitting the proposals to the Hong Kong SAR Legislative Council for review in the first half of next year. 3. The SAR government will conduct technical research and planning on low-altitude infrastructure, including landing sites, communication networks, air routes, low-altitude surveillance and management systems. 4. Strengthening connectivity with the Mainland to promote cross-border low-altitude flight activities in the Greater Bay Area.