China Economic ReviewLeading Chinese electric-vehicle (EV) maker Xpeng reported record quarterly revenue and sharply narrowed losses in the third quarter, even as its Hong Kong-listed shares fell on Monday after investors shrugged off a bullish call from JPMorgan, reports the South China Morning Post. The Guangzhou-based firm’s net loss narrowed by nearly 80% to RMB 380.9 million ($53.6 […]
JD.com Inc. has launched a standalone food delivery application and an independent user-review service, intensifying its competition with Meituan in China’s sprawling local services market, reports Caixin. Company founder and chairman Richard Liu announced on Monday that the e-commerce heavyweight will roll out a dedicated food delivery app, as well as a new review platform […]
The combined expenditure in China’s two main budgets—the general public account and the government-managed fund book—tumbled 19% in October from a year earlier to RMB 2.37 trillion yuan ($334 billion), according to Bloomberg calculations based on data released by the Ministry of Finance on Monday. The slump in broad fiscal spending is the most since […]
China’s factory output and retail sales grew at their weakest pace in over a year in October, piling pressure on policymakers to revamp the $19 trillion export-driven economy as a trade war with the US and weak domestic demand heighten risks to growth, reports Reuters. Industrial output grew 4.9% year-on-year in October, National Bureau of […]
For the first time since record-keeping began in 2011, secondhand home prices fell across all 70 of China’s major cities for two consecutive months—a sweeping downturn that underscores the persistent strain in the country’s property market and the failure of the traditional “Silver October” sales season—a typically robust period for real estate—to deliver, reports Caixin. […]