MARKET
Overseas investors cut holding in Chinese bonds in June, added stocks – IIF
Overseas investors continued to cut holdings in Chinese bonds in June but added positions in equities, the Institute of International Finance said.
Evergrande New Energy Vehicle launches Hengchi 5, first 10,000 buyers can request refund within 15 days of delivery
China Evergrande New Energy Vehicle Group, the electric car unit of the embattled property developer China Evergrande Group, has launched Hengchi 5 sport-utility vehicle, the company’s first car model since its inception three years ago.
China’s new energy vehicle ownership exceeded 10 million units, only 3.2% of total car ownership
China’s motor vehicle ownership stood at 406 million units by the end of June, according to data released by the Ministry of Public Security.
Chinese steelmakers suffer sector-wide losses, many start maintenance ahead of schedule to reduce production
Chinese steelmakers are suffering from sector-wide losses, as demand remains sluggish, inventories pile up and prices decline, and many mills have decided to start equipment maintenance ahead of schedule to reduce steel supply.
China’s road freight faces disruptions again as rainstorms hit South China
China’s road cargo transportation is seeing disruptions again as heavy rainfalls hit several regions in South China which hampers its recovery from the impacts of the Covid-19 outbreaks.
India raids Vivo over suspected money laundering, China’s Foreign Ministry urges India to provide fair environment for Chinese firms
China’s Foreign Ministry said that it’s closely monitoring reports of Indian agency’s raids of Chinese smartphone maker Vivo, urging India to earnestly provide a fair, just and non-discriminatory business environment for Chinese companies.
Tencent discontinues game portal WeGame on mobile devices
Tencent Holdings said it’s discontinuing its game portal app WeGame on mobile devices due to changes in its business strategy.
Property developer China Fortune Land said to sell project in Wuhan
Property developer China Fortune Land proposed to sell the Changjiang Centre project in Wuhan, capital of central China’s Hubei province,Chinese news outlet Cailianshe reported on Wednesday citing sources.
