Li Auto (NASDAQ:LI) shares drove higher on Tuesday, continuing strong momentum established in the past month as COVID restrictions look as though they are fading in China.
For Shanghai specifically, 96.3% of industrial businesses tracked by the government were back to operating, according to government reports released on the day. For the restarted operation, a production rate above 70% was reported by state authorities.
Shanghai, which has been a key focus for Zero-Covid policies in China, is seen as a test case for much of the rest of the country. As such, positive trends are taken to be suggestive of policy shifts in neighboring regions as well.
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