Li Auto (LI 42.690, +0.95, +2.3%): reports August deliveries increased 663.8% yr/yr
The People’s Bank of China will lower the foreign exchange reserve requirement ratio to 4.00% from 6.00%, effective September 15.
The PBoC also confirmed speculation about rate cuts on some existing mortgages, effective September 25.
In addition, the Chinese government is raising the personal income tax deductions for child care.