Chinese Carmakers Surge on Official Vehicle List: Beijing Mover
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Chinese automaker shares rose, led by Dongfeng Automobile Co. and FAW Car Co., after the government excluded foreign brands from a preliminary list for official-vehicle purchases.
Dongfeng Automobile jumped 10 percent, the first time it climbed by the daily limit since November 2009, and traded at 3.81 yuan as of 9:46 a.m. in Shanghai. FAW gained 4.9 percent to 10.78 yuan in Shenzhen. Great Wall Motor Co. rose 3.6 percent to 14.51 yuan, set for the highest close since its Shanghai share sale in September.