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The State Council of China decided to lower the duty on the import of cars from 25%, operating for more than 10 years, to 15%, Bloomberg reports with reference to informed sources. Decrease in the duty on import of cars is a favorable factor for the automakers of the USA, Europe and Asia. Luxury car manufacturers will benefit most he reduction in duties, since their production is represented in China to a lesser extent than the production of cheaper cars. In April this year, the Chinese authorities announced plans to lift restrictions on the share of foreign companies in local joint ventures to produce cars by 2022. In 2018, China intends to abolish the limits on the share of foreigners in joint ventures manufacturing cars that operate on new fuel sources.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...
The dollar was under pressure on Monday as the escalating U.S.-China tensions weighed on the market, while investors worried that the U.S. coronavirus resurgence could stall economic recovery. The dollar fell to a four-month low on the yen ...
Oil prices rose on Friday as the dollar dropped to a near two-year low, but demand worries amid rising coronavirus cases and the worsening U.S.-China tensions capped gains. Brent crude gained 0.4%, or 15 cents, at $43.46 per barrel. U.S. West ...
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