On August 30th, Niu Technologies (NIU.US) rose 2.69% to $1.91 in intraday trading. On the news front, the Ministry of Commerce and other five departments jointly issued the "Implementation Plan to Promote the Replacement of Electric Bicycles with Old Ones", proposing that local governments should make good use of the funding to support the replacement of consumer goods with old ones, and develop implementation plans for the replacement of electric bicycles with old ones based on the actual situation. Consumers who return their old electric bicycles and purchase new ones will be subsidized, and consumers who enjoy the subsidy are encouraged to purchase new electric bicycles that are produced by companies meeting the requirements of the "Electric Bicycle Industry Standard Conditions". Consumers who return their old lithium-ion battery electric bicycles and purchase lead-acid battery electric bicycles will receive appropriate subsidy increases.