US Stock Market Move | Chinese new energy vehicle stocks are rising, Li Auto, Inc. Sponsored ADR Class A (LI.US) is up more than 7%.

On Thursday, Chinese new energy vehicle stocks rose, as of press time, Li Auto, Inc. Sponsored ADR Class A (LI.US) rose over 7%, NIO Inc. Sponsored ADR Class A (NIO.US) rose over 8%, and XPeng, Inc. ADR Sponsored Class A (XPEV.US) rose over 2%. In terms of news, at the State Council executive meeting held on July 16th, relevant departments heard a report on regulating the competitive order in the new energy vehicle industry. The meeting proposed to focus on promoting the high-quality development of the new energy vehicle industry, and to address various irrational competition phenomena in this industry sector. It is necessary to adhere to a combination of short-term and long-term planning, comprehensive measures, and effectively regulate the competitive order in the new energy vehicle industry.