China Auto Stocks Surge on Speculation License Controls May Ease

Chinese carmakers surged on speculation authorities are considering relaxing controls over the number of automobile licenses in major cities.

A document circulating on Chinese social media showed China’s economic planner was drafting a series of stimulus measures to bolster consumption, said Danny Chen, an analyst at CIMB Securities Ltd. People familiar with the matter confirmed the proposals have been drafted and include potential subsidies for new-energy vehicles.