Li Auto, the Chinese electric vehicle maker, saw its stock surge over 6% on Monday after China announced a major shift in its monetary policy stance for the first time in nearly 14 years.
According to reports, China's top leaders led by President Xi Jinping have signaled a move towards a "moderately loose" monetary policy for 2025. This marks a significant departure from the "prudent" approach the country has maintained since 2011, and is expected to usher in greater economic stimulus measures.
The announcement was welcomed by investors, as evidenced by the rallies in Chinese stocks and ETFs during overnight trading. Apart from Li Auto, other Chinese EV makers like Xpeng and Nio also saw substantial gains, buoyed by the prospects of easier access to credit and a boost to consumer demand amidst the looming easing cycle.
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