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Shares rise

2017-09-12 4 ℃

SHANGHAI shares rose yesterday after the Chinese government said it would boost the development of new energy cars.

The Shanghai Composite Index added 0.33 percent to close at 3,376.42 points.

Xin Guobin, vice minister of industry and information technology, said on Saturday that China would unveil a new-energy credit policy that envisages electric and hybrid gasoline-electric vehicles to take up 8 percent of each camaker’s output next year.

Ningbo Joyson Electronic Corp, a car component maker, jumped by the daily limit of 10 percent to 35.27 yuan (US$5.41), while Guangzhou Automobile Group Co grew 4.67 percent to 27.33 yuan.