U.S. Stock Market Movement | Chinese New Energy Vehicle Stocks Rise, Li Auto Surges Over 9%

On Tuesday, Li Auto's stock price rose, with the stock up over 9% to $20.77 as of the time of writing. Chinese new energy vehicle stocks all rose, with NIO up over 4% and XPeng up over 4.7%. On the news front, the China Banking and Insurance Regulatory Commission issued a notice on promoting non-bank financial institutions to support large-scale equipment upgrades and the exchange of old consumer goods. It proposed to increase automotive financial services to support car exchanges. It encourages automotive financial companies and financial companies engaged in automotive financial business to increase financing support for municipal transportation enterprises, help promote the application of new energy vehicles, promote the electrification of urban buses, and the replacement of old new energy buses and power battery upgrades. Encouraging the appropriate reduction of the down payment ratio for car loans, reasonable determination of car loan terms and credit limits, and lowering the threshold for car consumption under the premise of legal compliance and controllable risks. Encouraging the enrichment of automotive financial product supply, providing consumers with financial services such as replacement car continuation loans in the vehicle replacement process, appropriately reducing early repayment default penalties, supporting car exchanges. Encouraging increased cooperation with automobile manufacturers, seeking interest subsidy support, and enhancing consumer access