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BYD shares rebound on China's latest push for EV buying

TOKYO -- Shares in Chinese electric-vehicle maker BYD have bounced back about 30% from recent lows after China's government said it would encourage drivers to replace their old cars.

Beijing announced the action plan to spur consumer and business spending on March 13 -- not long after the end of the National People's Congress and sooner than many China watchers had expected.

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