Coronavirus dents profitability at commercial banks 

Coronavirus dents profitability at China’s commercial banks 

(ATF) Profitability at China’s banks fell substantially in the first half as the coronavirus downturn damped economic activity. According to data from the China Banking and Insurance Regulatory Commission , commercial banks achieved a cumulative net profit of one trillion yuan ($143 billion) in the first six months of 2020, ...

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Alibaba-backed Best to list delivery business in Hong Kong

Alibaba-backed Best to list delivery business in Hong Kong

Alibaba-backed Best Inc is seeking a Hong Kong listing for its express delivery and freight delivery businesses, keen to boost its valuation and establish an investor base closer to China, according to three sources with knowledge of the matter. The plans by Best, which went public in New York in ...

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China eases travel restrictions for Europeans

China eases travel restrictions for Europeans

China has eased entry restrictions for nationals from 36 European countries, months after thousands were left stranded when the country closed its borders and slashed flights to slow the spread of the coronavirus. Almost all foreign nationals were forbidden from entering the country when Beijing imposed the measures in March, ...

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China to issue 140bn yuan of bonds to make up green power deficit

China to issue 140bn yuan of bonds to make up g

(ATF) China’s renewable energy sector has been suffering for some time, mostly due to slow payment of subsidies by major players in the power industry. Now, under pressure from the government to meet the green obligations of its digital-forward “new infrastructure” plan, leaks from top-level meeting show leading government agencies ...

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China auto sales surge in July, log fourth straight month of gains

China auto sales surge in July, log fourth straight month of gains

BEIJING/SHANGHAI: China's auto sales in July climbed 16.4% from a year earlier, the fourth consecutive month of gains as the world's biggest vehicle market comes off lows hit during the country's coronavirus lockdown. Sales rose to 2.11 million vehicles in July but are still down 12.7% for the year to ...

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Chinese EV maker Xpeng files for US listing after rival surges

Chinese EV maker Xpeng files for US listing after rival surges

Chinese electric vehicle (EV) maker Xpeng Inc, backed by Alibaba and Xiaomi Corp, has filed to list its shares in New York, seeking to ride enthusiasm for EVs even as US-China relations are strained. The move, announced on Friday, comes as share prices of EV makers including Tesla Inc and ...

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Motor industry struggles to shake off coronavirus impact

Motor industry struggles to shake off coronavirus impact

(ATF) China’s motor manufacturers increased car sales in July, but figures for the year remain suppressed by the economic impact of the coronavirus pandemic. Adding deeper woes to the industry, plans to green the nation’s roads took a blow as electric car sales continued to slump. Geely Automobile, the largest ...

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