Hello, greetings from Shunyi for November eleventh, yes, double eleven and we are moving on. We may, perhaps, later bring you updates but for now, let’s look at other business news headlines making news in China courtesy of Yicai Global.
Yicai Global are one of our top ten local China go to news sources when we want to know what is breaking China business, tech, marekting or c social news. Yicai is highly regarded in China and overseas as a independent news sheet with a strong focus and grasp of economics and finance. Today, whilst still keeping with that tradition they have broadened their base slightly to be, as we said, a good source of general business news in China.
China Auto Sales
Despite the overall decline in China’s auto sales, the purchase of new energy vehicles more than doubled last month – October 2021. Analysts say the total decline was drive by a fall in the sale of fossil fuelled motor vehicles. Gives us a little hope for the future. China’s NEV Sales More Than Double in October as Total Auto Sales Drop.
For BYD this was great news as it sold more than three-and-a-half times the numbers in October from the same period last year. However it’s commercial division is still feeling the chill from Covid. As China’s borders remain tight against most international visitors, demand for green tour busses has all but dried up. BYD Was China’s Best Selling Electric Car Brand in October But Bus Sales Plunged
Meanwhile, falling sales, driven by slow down in production, driven by the global chip shortage saw NIO post less than optimistic sales predictions and a subsequent drop in its share price. Nio Dips After Predicting Slowing Fourth-Quarter Sales Growth Amid Chip, Production Hurdles
Showing an ever so much more positive face, GEELY is ready invest in developing its own auto chip. It plans to invest heavily in research and development over the next four years to develop at least 25 smart new products, including its own 7 nanometer and 5nm semiconductor chips. These will power Geely’s basic software, smart cockpit software and autonomous driving software, as well as intelligent car software and hardware systems. all this by 2025. Chinese Carmaker Geely Guns for Chip Autonomy by 2025
Shanghai Europe Express- all aboard!
A slightly misleading headline we admit, but the Shanghai Express is a new cross-border freight railway service. It is expected to run a minimum of eight freight trains per month next year; two to three journeys a week from Shanghai to Europe two to three a month back to China. A combination of high freight costs for both sea and air plus the relatively shorter time for train v/s ship has seen demand for rail freight space between the two countries soar. Launched at CIIE, China-Europe Shanghai Express to Run at Least Eight Freight Trains a Month Next Year
Staying in Europe, Alibaba’s logistic arm Caixniao has opened part of its logistics centre at the Liege Airport in Belgium. Alibaba plans this as an important hub for cross-border trade following the, hopefully, soon to be inked, FTA between China and Europe. Alibaba’s Logistics Arm Opens E-Commerce Hub in Belgium
And that’s a wrap, a quick, sneak preview of the other important things happening in China now! To finish off let’s take a look at the first snowfall of this winter. The beginning of November, Beijing was seeing warm days, so warm in fact hibernating ladybirds were confused and came back by the hundreds. Saturday 6th, it snowed and temperatures plummeted to day time highs of minus 5. These images courtesy of Caixin Global, another of our top ten go to China business news resources. Enjoy: Gallery: Northern China Hit by Heavy Snowfall
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