China will make great efforts to consolidate its economic recovery particularly in the crucial third quarter, putting a priority on stabilising employment and prices, the State Council said at a regular meeting on Friday, reported the state broadcaster CCTV.
China’s National Energy Administration (NEA) on Friday held a meeting about increasing coal production and ensuring coal supply, according to a statement on the day.
China’s Ministry of Transport on Friday tightened existing rules governing how online ride-hailing companies should handle and share their data with regulators, updating similar rules announced in 2018.
Shares of manganese companies stage a strong rally, with South Manganese, one of the world’s largest manganese producers, surging 6.9% in Hong Kong to close at HK$1.08, the highest level in nearly four months.
Hong Kong’s Financial Services and the Treasury Bureau (FSTB) is considering working with Qianhai, a special economic zone in Shenzhen, to help private equity funds incorporated in Hong Kong to invest in Mainland China though simpler approval procedures, reported Hong Kong’s Sing Tao Daily citing Christopher Hui, Secretary for Financial Services and the Treasury.
Chinese power battery giant CATL’s M3P battery is already in mass production and will be in use next year, the company’s chief scientist Wu Kai said during a presentation at the 2022 World EV & ES Battery Conference in Yibin, Sichuan province in Southwest China on Friday.
Chinese carmakers BYD Company and Leapmotor are in talks with GAC about the possibility of taking over the Changsha plant of GAC-Stellantis, Chinese news outlet Cailianshe reported on Friday, citing sources familiar with the matter, without giving further details.
Chinese property developers Huijing Holdings is crashing more than 85% in Hong Kong to hit a new record low of HK$0.216.
Shares of Chinese cement producers trade lower on expectation of sector-wide over-capacity amid sluggish real estate activities. Conch Cement is sliding more than 5% in Hong Kong, CNBM down 4.6%, Huaxin Cement down 1.9% and China Resources Cement down 1.75%.
Foxconn Interconnect Technology Ltd (FIT), a subsidiary of Foxconn and a supplier of precision components, is surging more than 14% in Hong Kong after the company forecast strong more than 900% growth in first-half profit and several banks raised projections of FIT’s earnings in 2022 and years ahead.
