China's Ministry Of Industry Says Issues Proposals To Support Expansion Of New Energy Vehicles Consumption; Expects 2023 Vehicle Sales Up 3% YoY At 27M Units; Among Which, 9M Units Will Be New Energy Vehicles, Up 30% YoY; Expects Car Sector To Operate In Reasonable Range In 2024
Portfolio Pulse from Happy Mohamed
China's Ministry of Industry has issued proposals to support the expansion of new energy vehicles consumption. It expects vehicle sales to increase by 3% YoY to 27 million units in 2023, with 9 million units being new energy vehicles, a 30% YoY increase.
September 01, 2023 | 1:04 pm
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POSITIVE IMPACT
The news of China's Ministry of Industry supporting the expansion of new energy vehicles could potentially impact the iShares China Large-Cap ETF (FXI), which includes companies that could benefit from this policy.
The iShares China Large-Cap ETF (FXI) includes large Chinese companies, some of which are likely involved in the new energy vehicles industry. As the Chinese government is supporting the expansion of this industry, these companies, and therefore FXI, could potentially benefit.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70