Japan's Honda Motor Co announced on Thursday (July 25, 2024) that it will close a factory in China and halt car production at another plant as it seeks to start producing more electric vehicles in response to fierce competition from Chinese brands.
Chinese stocks suffered their worst sell-off in six months as a lack of significant policy support following the Third Plenum of the 20th Central Committee of the Communist Party of China exacerbated bearish sentiment.
Data shows that in the first half of this year, the transaction volume of houses purchased by buyers from mainland China in Hong Kong hit a 29-year high.
According to AFP, on July 8, 2024 local time, BYD and the Turkish government signed an agreement to invest and build a factory in Turkey, and Turkish President Erdogan attended the signing ceremony.
China's beef prices have fallen to a five-year low in recent years as domestic production has increased and imports have also risen.
FedEx has recently opened a new international freight route to the United States from Qingdao, Shandong Province, China, and will establish an international port operations center there.
In April, lottery sales in mainland China totaled RMB 55.457 billion, up 10.2% year-on-year. Among them, lottery sales in Guangdong, Hunan, Hebei and Xinjiang provinces all saw a significant increase.
China has lifted a ban on five major Australian beef producers.
Revenue from land sales by local governments in China hit an eight-year low last month, another sign of a deepening housing crisis.
In response to the U.S. announcement of new tariffs on certain Chinese industries, China's Ministry of Commerce responded by saying that it firmly opposes and will take resolute measures to defend its rights and interests.
Chinese real estate developer Agile Group defaulted on interest payments on its U.S. dollar bonds for the first time and is expected to be unable to meet all payment obligations under its overseas debt. After this news came out, Agile's Hong Kong stock price fell all the way after the market opened. As of noon, the stock price fell nearly 13%.
China's one trillion yuan ultra-long-term special government bonds will be issued starting from this Friday (May 17, 2024), with an initial term of 30 years and interest payments on a semi-annual basis.
This week, U.S. President Joe Biden is expected to double or triple tariffs on some Chinese goods, including electric vehicles.
The year-on-year growth rates of China's total import and export value in April 2024 both turned negative to positive, exceeding market expectations. This shows that overseas demand has improved, which will boost the Chinese economy.
