Li Auto, a leading Chinese electric vehicle maker, saw its shares surge 7.78% on Wednesday in the Hong Kong market. This upward movement came after Hong Kong's Financial Secretary Paul Chan announced plans to establish a dedicated "technology enterprises channel" to accelerate listings of tech companies, particularly those already traded on the mainland.
The new channel aims to facilitate a smoother application process for specialist technology and biotechnology firms seeking to list in Hong Kong. This move is seen as an effort by the city to boost its attractiveness as a fundraising hub, catering to the growing appetite of Chinese companies looking to raise funds offshore.
The announcement appears to have fueled investor optimism in the tech sector, with Li Auto and other prominent tech stocks like Horizon Robotics, Meituan, and JD.com witnessing significant gains on Wednesday. As a leading player in the electric vehicle industry, Li Auto is poised to benefit from Hong Kong's efforts to attract more tech listings and tap into the growing investor interest in this sector.
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