Chinese industrial mother machine companies rally after President Xi stressed large-scale equipment renewal

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Companies in the industrial mother machine industry staged a strong rally on Monday, with an index tracking A-shares of the sectors, compiled by Wind Information, surging by more than 7.5% in the morning session on Monday, making it the best-performing sector in the A-share market.

Chinese President Xi Jinping on Friday stressed promoting a new round of large-scale equipment renewal and trade-in of consumer goods, and lowering logistics costs . . .

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