Caixin
Jan 09, 2019 06:44 PM
ECONOMY

Auto, Appliance Stocks Jump After Official Pledges to Support Consumption

Great Wall Motor's Haval cars on display at a Shanghai motor show on Sept. 28. Photo: IC
Great Wall Motor's Haval cars on display at a Shanghai motor show on Sept. 28. Photo: IC

*A senior official with the country’s top economic planner said the government will “will introduce measures to stabilize consumption of popular products such as cars and home appliances”

*This led stocks in the mentioned industries to spike, with shares across the home appliances sector rising by an average 4%

(Beijing) — Shares of carmakers and home appliance manufacturers led an increase in Chinese stocks Wednesday after a high-ranking economic-planning official said the government will offer new policies to support consumer spending.

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