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From the beginning of the year to May, China shipped 392,000 cars abroad. According to the China Association of Automobile Manufacturers, the figure fell by 4.9% compared to the same period last year. 259 thousand passenger cars were shipped abroad, which is 14.5% less than deliveries from the same period of 2018. During this period, China has delivered 21.7% more commercial vehicles, their number has grown to 133 thousand cars. In May, China exported 78 thousand cars. The indicator for April rose by 16.4%. The association also reported that in the first four months of the year, Chinese car manufacturers reduced revenue by 9.2% to 1.26 trillion yuan. In order to increase car sales in the country, the Chinese authorities have imposed a ban on any restrictions from the side of local authorities on the purchase of cars with engines that work on new energy 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 ...
On Tuesday, Tesla Inc.’s (TSLA.O) Chief Executive Officer Elon Musk announced that the automotive company would start to open its licensing software to supply powertrains and batteries for other car manufacturers. “Tesla is open ...
The dollar sat near two-year lows on Wednesday as the United States struggled to control the coronavirus outbreak, breaking hopes for a fast economic recovery. The gloomy outlook for the U.S. economy is expected to urge the Federal Reserve ...
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, ...
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