香港汽车ETF（520720）涨超0.6%，政策与转型前景引市场关注

Group 1 - The Hong Kong Automotive ETF (520720) rose over 0.6% on January 9, driven by market attention on policies and transformation prospects [1] - Guohai Securities noted that the "Two New" policy will continue to implement subsidies for vehicle scrapping and replacement updates in 2026, adjusting fixed subsidies to be proportional to vehicle prices, with new energy passenger vehicle scrapping subsidies reaching 12% of the vehicle price (up to 20,000 yuan) and replacement subsidies at 8% (up to 15,000 yuan) [1] - The Ministry of Industry and Information Technology and three other departments jointly issued the "Implementation Plan for Digital Transformation of the Automotive Industry," aiming for deep application of digital technologies by 2027 and a high level of overall digitalization in the industry by 2030 [1] Group 2 - The year-on-year growth rate of passenger vehicles may decline by the end of 2025, but the high-end market is expected to perform relatively better in 2026 amid expectations of policy tapering, with a positive outlook on the high-end breakthrough of independent brands [1] - The Hong Kong Automotive ETF (520720) tracks the Hong Kong Stock Connect Automotive Index (931239), which selects listed companies involved in vehicle manufacturing and related industries within the Stock Connect scope, covering electric passenger vehicles and intelligent driving [1] - This index focuses on the automotive sector, reflecting the development trends of electrification and intelligence in the industry, thereby representing the overall performance of listed companies related to the automotive industry [1]