China to offer subsidies to airlines for loss-making flights – finance ministry
China will offer subsidies to Chinese airlines to help the industry weather the pandemic-induced downturn and high oil prices.
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Container throughput at Shanghai Port back to 95.3% of normal level, operations at China’s major ports pick up, said transport ministry
Daily container throughout in the Port of Shanghai, the world’s largest port by container handling, has recovered to 95.3% of the normal level, said the Ministry of Transport.
China treasury futures jump on expectation of further policy easing; Hong Kong stocks, Chinese A-shares open higher
China’s treasury futures open higher on expectation of more policy easing. The most-traded 10-year government bond futures jumps 0.21% to hit 101.355, the 5-year and 2-year treasury futures trading 0.13% and 0.06% higher.
Chinese port operators, shipping companies trading higher on expectation of rising business volume and shipping rates
Shares of Chinese port operators and shipping companies are trading higher, with indexes tracking the two sectors compiled by Wind Information surging by 4.2% and 2.2%, respectively, making them among the best-performing sectors in the A-share market, compared to 0.1% gain for the benchmark Shanghai Composite Index.
China’s mobile phone shipments fell 34.2% on year in April – state think tank
Mobile phone shipments in China tumbled 34.2% in April from a year earlier to 18.08 million units, according to the China Academy of Information and Communications Technology (CAICT) under the Ministry of Industry and Information Technology.
Shanghai eyes reopening of shopping malls, department stores from June, said local government
Shopping malls and department stores in China’s financial and commercial hub of Shanghai are scheduled to resume on-site operations from June 1, said the local commerce authority.
China’s retail sales of passenger cars expected to drop 19% on year in May – industry body
Retail sales of passenger vehicle in China are estimated at about 1.32 million units in May, down 19% from a year earlier, according to preliminary estimates released by the China Passenger Car Association (CPCA) on Tuesday.
China’s EV prices 10% higher than conventional vehicles, versus 45%-50% in other markets – IEA
The median price of electric vehicles in China is 10% higher than that of conventional vehicles, compared with 45% to 50% premium on average in other major markets, according to the International Energy Agency (IEA).
Kuaishou Q1 net loss narrowed 34% to 3.7 billion yuan, revenue beat expectations
Chinese short video-sharing platform Kuaishou reported a net loss of 3.722 billion yuan for the first quarter of the year, compared to a net loss of 5.65 billion yuan for the same period last year and a loss of 4.46 billion yuan expected by the market.