Month: <span>January 2023</span>
Month: January 2023

Shanghai to extend NEV purchase subsidies, to provide subsidies for green, smart home appliance buying

China’s financial hub of Shanghai will extend the subsidies for purchases of new energy vehicles (NEVs) in a move to promote car consumption, according to an action plan to stabilize economic growth released by the municipal government on Sunday.

China’s smartphone sales plunged 19% in 2022, falling below 300 mln units for first time in eight years

China’s mobile phone sales reached 255 million units in 2022, plunging 19% from the previous year and falling below 300 million units for the first time since 2015, , according to a report by Chinese flat panel display and semiconductor research firm CINNO Research.

Mainland, Hong Kong exchanges propose to further expand Stock Connect schemes, China said to roll out Swap Connect scheme with Hong Kong by end of Mar

The Shanghai Stock Exchange and the Shenzhen Stock Exchange issued proposals to include the stocks of companies with a differential voting rights structure in the …

China’s exports slid 9.9% on year in Dec, imports fell at slower pace, 2022 foreign trade hit new record high

China’s December exports declined at the fastest pace since March 2020 amid sluggish overseas demand, highlighting risks to the country’s economic recovery, while imports fell at a slower pace, suggesting that domestic demand may slowly recover in coming months.

China formulates action plan to support struggling real estate sector, to reasonably improve “Three Red Lines” restrictions

China has formulated a comprehensive action plan to support the struggling real estate sector as Beijing steps up the effort to boost the country’s economic growth, the official Xinhua News Agency reported on Friday.

Chinese energy giant CNOOC eyes record production of 650 – 660 million barrels of oil equivalent in 2023

CNOOC, China’s largest state-owned offshore oil driller, said it aims to achieve a record production of 650 – 660 million barrels of oil equivalent (boe) in 2023, with domestic production to account for 70% and overseas production 30%, according to a filing to the Hong Kong Stock Exchange outlining its annual strategic outlook.

China’s passenger car sales rose 3% on year in Dec, 2022 sales grew 1.9% – industry body

China’s retail sales of passenger cars reached 2.169 million units in December of 2022, rising by 3% from a year earlier and jumping by 31.4% from the prior month, marking the fastest month-on-month growth for the month since 2008, according to data released by the China Passenger Car Association on Tuesday.

Alibaba signed cooperation agreement with Hangzhou government, senior city official visited fintech unit Ant Group

China’s e-commerce giant Alibaba Group has signed a cooperation agreement with the municipal government of Hangzhou, where the company is headquartered, signaling government support for the platform economy’s growth in a healthy, regulated way, local government-backed Zhejiang Daily reported on Tuesday.