China Battery Stocks Surge as Regulators Target Price Wars
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Battery casing workshop at Gotion High-tech’s Feidong base in Hefei, Anhui province. Photo: VCG
Chinese lithium battery stocks rallied Friday after four government ministries pledged to crack down on price wars and excessive competition, highlighting Beijing’s push to rein in overcapacity and stabilize prices.
Shares of major manufacturers, including industry leader Contemporary Amperex Technology Co. Ltd. (CATL) and Sunwoda Electronic Co. Ltd., surged after a government symposium held Thursday to address market disorder.
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