(Yicai Global) Jan. 13 -- Chinese tech companies, particularly new energy vehicle makers, rallied before lunchtime after the minister of Industry and Information Technology indicated that the country will not cut its related subsidies this year.

The shares of BYD [SHE:002594] and BAIC Bluepark New Energy Technology [SHE:600733] both hit the 10 percent daily limit up by the lunch bell.

The Shanghai Composite Index climbed 0.06 percent to 3,094.02. The Shenzhen Component Index was at 10,971.84, up 0.85 percent. The ChiNext Price Index, which tracks growth enterprises in Shenzhen, edged up 0.91 percent to 1,921.57.

Editor: Emmi Laine