Month: February 2023
BYD denied reported price cut, saying its dealers’ promotion activities
Chinese automaker BYD Company said that the reported price cut in some Chinese regions are promotional activities conducted by dealers, and the carmaker itself has not considered a price cut.Â
Alibaba to merge food delivery platform Ele.me’s restaurant review service with digital mapper AutoNav – reportÂ
Chinese e-commerce giant Alibaba Group is planning to promote its buy-online, pick-up-in-store business through the merger of the restaurant review service under its food delivery platform Ele.me with its digital mapper AutoNavi, Chinese news outlet Yicai reported citing a source familiar with the matter.
China’s wealth management products market shrank by over 2 tn yuan in Q4, 2022Â
China’s wealth management product market shrank by over 2 trillion yuan ($290.2 billion) in the fourth quarter of 2022 as a sharp decline in Chinese bond prices led to outflows.
China’s new bank loans hit new record in Jan, household lending still weak
China’s new bank loans hit a record high of 4.9 trillion yuan ($720.21 billion)Â in January, as the authority moved to shore up growth in the world’s second-biggest economy after the relaxation of Covid-19 control measures.
China’s consumer price rose at faster pace in Jan, factory-gate deflation deepens
China’s consumer prices grew at a faster pace in January driven by surging spending on services after relaxation of Covid control measures and during the Spring Festival holidays, while factory-gate deflation deepened amid falling commodity prices.
China’s passenger car sales slid 37.9% on year in Jan
China’s retail sales of passenger vehicles reached 1.293 million units in January 2023, sliding 37.9% from a year earlier and down 40.4% from the month before.
First shipment of Australian coking coal set to arrive in China on Wed night
The first shipment of Australian coking coal is set to arrive at a southern Chinese port on Wednesday night following breakthrough trade talks between the two countries this week.