The China Automobile Dealers Association (CADA) is in talks with the finance and commerce ministries over cutting existing car purchase taxes by up to 50%, members of the association told Reuters. The commerce ministry met with representatives from the auto industry earlier this week to brainstorm means of revving up demand as fears of a […]
Category: Consumer
QUICK TAKE
China’s service sector growth benefitted from stronger business sentiment and higher input costs last month, according to a monthly Caixin survey, countering a steep drop in job creation. The Caixin China General Services Business Activity Index rebounded to 53.1 in September from its 10-month low of 51.5 the month before. This means the gauge is […]
The upcoming fundraising round by Chinese media startup Bytedance will attract investment from the likes of SoftBank Group as it chases a fresh $3 billion for international expansion plans, sources told the Wall Street Journal. Bytedance, which operates China’s most popular news aggregator, Jinri Toutiao, hopes to achieve a $75 billion valuation from the latest […]
Chinese households are holding more debt than ever before, according to the latest research by insurance group Allianz, fuelling fears that a key driver of China’s recent economic growth could begin to slow. Household debt equated to 49.1% of GDP in 2017, the highest recorded ratio and an uptick of 20 percentage points from five […]