Chinese automakers rose in Shanghai and Shenzhen trading after the government approved energy-efficiency subsidies as it steps up efforts to curb pollution and cut fuel imports.
SAIC Motor Corp. rose 3.2 percent to 12.66 yuan in Shanghai trading and Anhui Jianghuai Automobile Co. gained 4 percent to 6.86 yuan as of 9:32 a.m. Chongqing Changan Automobile Co. jumped 3.6 percent to 9 yuan in Shenzhen trading.
SAIC, Jianghuai and Changan are among the 16 Chinese automakers that received government approval.
China has been trying to curb emissions as increased vehicle ownership and industrialization have added to pollution. About 44 percent of Chinese cities have an air-quality level of 3 or below, according to the State Information Center. China has five levels; 1 indicates the cleanest air, 5 the worst.
