China’s economy edged out of deflation in August, as Beijing struggles to promote growth and revive investor confidence following a slide in the country’s property market and a plunge in exports, reports the Financial Times. The consumer prices index was 0.1% higher year on year in August, below a Reuters poll of analysts for a 0.2% increase, […]
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China car sales grow in August
China’s passenger vehicle sales returned to growth in August year-on-year, as deeper discounts and tax breaks for environmentally friendly and electric vehicles boosted consumer sentiment even as economic growth remains weak, reports Reuters. Car sales jumped 2.2% in August from the same month a year ago to 1.94 million units, data from the China Passenger […]
Norway’s $1.4 trillion sovereign wealth fund has started winding down its office in Shanghai as Singapore takes over as its hub in Asia, reports Bloomberg. The fund is initiating the process to close its representative office in the city due to “operational considerations,” Norges Bank Investment Management said on Thursday. The move doesn’t affect the […]
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Chinese rare earth prices hit 20-month high
Chinese rare earth prices jumped to their highest in 20 months, as mining suspension in major producer Myanmar sparked stockpiling ahead of the peak consumption season, analysts said on Thursday, reprots Reuters. Prices of dysprosium oxide leapt to RMB 2,610 ($356) per kilogramme on Wednesday, the highest since May 2022, latest data provided by Shanghai […]
Chinese electric vehicle (EV) battery producer Eve Energy has signed a deal with a clutch of foreign firms including Daimler Truck to build a factory in the US, the latest example of China’s growing prowess in manufacturing key components for EVs, reports the South China Morning Post. The Huizhou-based company, the mainland’s fourth-largest EV battery […]