Shares in large Chinese carmakers and appliance manufacturers jumped on Wednesday on reports Beijing is planning fresh incentives to boost domestic consumption as part of its bid to shore up the country’s slowing economy. 

Ning Jizhe, deputy head of the National Development and Reform Commission, said in an interview that policies would be rolled out to support consumption for key sectors, including automobiles and home appliances, according to a report from state news agency Xinhua. 

Among carmakers with shares listed in Hong Kong, Geely Automobile was 10 per cent higher, Guangzhou Automobile Group was up 8.4 per cent and BAIC Motor added 4.2 per cent. Great Wall Motor, also listed in Hong Kong, rose 13 per cent, also buoyed after reporting a 6.5 per cent increase in sales last year.