Shares of Li Auto Inc. (NASDAQ: LI), a prominent Chinese electric vehicle maker, plummeted by 6.24% on Monday, as broader concerns over China's economic growth and uncertainty surrounding the government's promised stimulus measures weighed heavily on Chinese stocks listed on U.S. exchanges.

The sharp decline in Li Auto's stock price was part of a wider selloff in Chinese American Depositary Receipts (ADRs), triggered by a disappointing announcement from China's finance ministry over the weekend. The ministry stated that the government would increase borrowing without providing specific details on the timing or the amount, leaving investors frustrated and seeking clarity on fiscal stimulus plans.

Adding to the concerns, China's September trade data fell short of expectations, with exports rising only 2.4% year-over-year and imports growing a mere 0.3%. These lackluster figures fueled doubts about the country's ability to meet its 5% economic growth target for the year, exacerbating fears of a potential slowdown in consumer demand.