20190925 China News
Source: | Author:eacham | Published time: 2019-09-25 | 741 Views | 🔊 Click to read aloud ❚❚ ▶ | Share:

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Zhejiang Geely Holding Group is calling for Chinese automotive brands to step up research and development and regain ground lost to international rivals as China's auto market continues to falter.

China's residential property market, which is still considered a key economic indicator, may appear down and out at the moment, but unexpected good tidings are adding to the buoyant mood generated by the celebrations of 70 years of the founding of the People's Republic of China.

China's banking and insurance regulator has asked the policy financial institutions in China to function as major force in the country's financial poverty alleviation.

The People's Bank of China (PBOC) injected 120 billion yuan into the market through seven-day reverse repos at an interest rate of 2.55 percent, and conducted 50 billion yuan of 14-day reverse repos at an interest rate of 2.7 percent.

The competition for car sales in China is heating up with more than one in four potential buyers disqualifying a brand before even visiting its dealers, according to a survey by JD Power released last week.

China, Japan and South Korea have all set ambitious targets to put millions of hydrogen-powered vehicles on the road by the end of the next decade. But to date, hydrogen fuel cell vehicles have been upstaged by electric vehicles, which are increasingly becoming a mainstream option due to the success of Tesla's offerings as well as sales and production quotas set by China.

Despite China's 14-month fall in car sales, major Japanese brands are bucking the downturn with increasing sales in the first eight months this year. China's overall vehicle sales stood at 1.96 million in August, a fall of 6.9 percent from the same period last year, according to the China Association of Automobile Manufacturers. 

Source：Globaltimes, Xinhuanet, Chinadaily, Shine, Gdtoday，China Plus News

Author: Producer Emilio Mendez

Speaker: Caroline Parraguez

Edition: EAcham

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