EV stocks could be one of the best relative safe havens for growth investors

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In a research note sent to investors on Friday, Yu's team reiterated its view from last week: The latest news "reaffirms our belief China EV stocks could be one of the best relative safe havens for growth investors," Yu's team said, adding that they expect increasing fund flows, further supported by Hong Kong listings and future inclusion to SH-HK Connect mechanism.

In our discussions, the government is making a clear push for hardware tech ("hard" tech instead of software/internet) such as EVs, batteries, semiconductors, and aerospace. Unique to electric vehicles, we see continued strong government support both at central and local level due to the creation of manufacturing jobs, the promotion of a cleaner environment, and the desire to export to foreign markets.

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