Baoding Tianwei, China New Energy Stocks Rise After Spending Plan Report

Baoding Tianwei Baobian Electric Co. led alternative energy companies higher after Reuters reported China may invest as much as $1.5 trillion in seven strategic industries over a five-year period.

Baoding Tianwei rose 5.4 percent to 25.35 yuan as of 10:02 a.m. in Shanghai. The nation may invest as much as 2 trillion yuan annually in the alternative energy, biotechnology, information technology, high-end equipment manufacturing, advanced materials, alternative-fuel cars and energy-efficient and environmental technology industries, Reuters said, citing an unidentified source with direct knowledge of the matter.

To contact the editor responsible for this story: Allen Wan at awan3@bloomberg.net

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