Intelligent mobile temperature-measuring vehicles independently developed by SAIC-GM-Wuling automobile company (SGMW) were delivered to the government of Liuzhou, South China's Guangxi Zhuang Autonomous Region on Thursday. Screenshot from Sina Weibo

Shares related to the vehicle networking industry and 5G opened higher on Monday, as Chinese investors were lifted by the nation's strategic plan to formulate an intelligent vehicle standard by 2025. Chinese leaders' vow to release further pro-growth policies to revive the virus-hit economy, amid gradual work resumption, also provides a shot to the capital market.

By 11 am, shares of mapping provider NavInfo had edged up 6.6 percent, while smart basic infrastructure provider China CTFO's shares were up by 7.81 percent. Shares of Quectel Wireless Solutions had soared by 6.79 percent and ZTE Communications by 7.44 percent.

China's 11 ministries including the Ministry of Industry and Information Technology and the National Development and Reform Commission, the nation's economic planner, issued a joint notice last week on the development of the intelligent car industry. 

According to the notice, China aims to build an intelligent vehicle system involving technological innovation, basic infrastructure, regulations and internet security by 2025. The mass production of autonomous vehicle is also expected to be reached by that time. By 2035, the system will be completed in a comprehensive way.

The system, once formed, will be one of the world's first such standards that will cement China's leading position in the development of automated vehicles and the intelligent car industry. 

Some auto industry insiders told the Global Times that as China's car industry has been reeling from the impact of the coronavirus, which has led to a halt in production and logistics, the plan serves to placate their anxieties.  

"It's good news. We hope the speedy development of new technologies can make up for our losses during the outbreak of the epidemic," said an industry insider. 

China's stock markets showed a mixed opening on Monday after top Chinese officials on Sunday held an unprecedented meeting regarding epidemic control work. The meeting stressed the importance of virus prevention work and promised further policies to boost the world's second-largest economy.

By 11:04 am, the benchmark Shanghai Composite Index went down 0.78 percent, while the NASDAQ-style ChiNext edged up 0.21 percent. 

Global Times