Chinese auto manufacturer, Great Wall Motors, is set to launch an electric compact car and a plug-in hybrid SUV in Europe in 2022, it said on Monday. The company will be joining a growing number of Chinese carmakers testing their luck in the European market with low or zero-emission vehicles, reports Reuters. The company said […]
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The National Development and Reform Commission (NDRC) has announced that China’s local governments should set the fees charged by after-school tutoring institutions offering compulsory education subjects, reports Caixin. The announcement outlines another step in the country’s plan to restructure the private education sector. Local governments should establish benchmark fees and floating ranges and include them […]
On the same day that China’s largest ride-hailing app, Didi Chuxing, denied reports of potential government investment in the company, fast-growing rival Cao Cao Mobility announced that it had raised RMB 3.8 billion ($588 million) from a group of state-owned funds, reports the Financial Times. The investment from the Suzhou-based funds aims to accelerate the […]
The CEO of Swedish telecoms company Ericsson has vowed that the company will double down on attempts to regain Chinese market share lost after the Swedish government blocked Chinese suppliers from its 5G roll-out, a move that antagonized Beijing and has impacted the equipment maker’s business in China, reports Reuters. China accounted for about 10% […]
Chinese ride-hailing giant, Didi Chuxing, has denied multiple media reports that the Beijing municipal government is pursuing a proposal to invest in the company, putting it under state control, reports the South China Morning Post. “Foreign media’s claim about Beijing’s municipal government coordinating relevant companies to invest in Didi is untrue,” the company said in […]