20231009 China news
Source: | Author:eacham | Published time: 2023-10-09 | 361 Views | Share:


Intelligent connected vehicles are a strategic focus for reshaping the global auto sector, and mastering their core technologies in the field is crucial for China's auto industry, officials said at the 2023 World Intelligent Connected Vehicles Conference on Thursday.



The ongoing investigation into China Evergrande Group's founder and the heavily indebted property developer's offshore debt restructuring plan may continue to weigh down market confidence despite its stock price surge on Tuesday as it resumed trading following last week's suspension, analysts said.



China's economic recovery is gathering speed as key indicators from consumption to production pick up, meaning the country's pro-growth policies are taking effect.The latest indicator to perk up is the purchasing managers' index for China's manufacturing sector, which came in at 50.2 in September, bouncing back to expansion territory after four consecutive months of growth.



Heavy rainstorms and strong winds will hit southern China in the next couple of days as Typhoon Koinu approaches the coast of Guangdong province after killing one and injuring hundreds in the island of Taiwan.



Optimism is growing despite downward pressure on China's steel industry, with experts predicting a better supply-demand balance thanks to the country's efforts to stabilize growth, new policies for managing crude steel production, and increasing demand from emerging sectors like new energy vehicles and solar power.



Prioritizing the services sector's upgrade in China may be an integral step for the country to further bolster market expectations amid job creation headwinds in midrange to high-end services industries that are weighing on domestic demand, said Zhu Haibin, chief China economist at JPMorgan.



While many people in China took more than a week off from work to celebrate the Mid-Autumn Festival and the National Day, State-owned builders continued working through the holiday to complete key projects on schedule, reflecting the nation's drive to accelerate infrastructure construction and sustain the economic momentum, a priority amid headwinds.



Author: Producer Emilio Mendez

Speaker: Caroline Parraguez

Edition: EAcham

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