Chinese stocks related to flying cars and the low-altitude economy stage a strong rally after the authority released guidelines on accelerating the establishment of a unified and open transportation market.
In the A-share market, Wolong Electric Group and Baosheng Co., Ltd. are surging by the daily limit of 10%, a number of stocks in the sector trading more than 5% higher.
The rally comes after the State Council on Monday night issued guidelines on accelerating the establishment of a unified and open transportation market, which emphasizes advancing low-altitude airspace management reform and promoting the development of general aviation and the low-altitude economy.
The guidelines stress the need to advance air traffic control system reforms, deepen low-altitude airspace management reforms, and foster the development of general aviation and the low-altitude economy, and call for expanding airspace resource availability through refined, categorized management and increasing the establishment and use of temporary flight routes.
The guidelines also called for the steady reform of natural monopoly segments in the transportation sector and encourages the participation of private capital in railway construction and operations in accordance with laws and regulations.