Weekly snapshot of China's local business news

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BEIJING, July 6 (Xinhua) -- The following are highlights of China's key local business news from the past week.

-- LHASA VEHICLES

The number of automobile vehicles had reached 264,941 units as of June in Lhasa, the capital city of southwest China's Tibet Autonomous Region. "Basically it means that every two persons in Lhasa own a car based on its current population of 550,000," said Huang Jinlong, deputy director of the vehicle administration of the city's public security bureau.

"The increase in the number of vehicles is attributed to the fast growth in income of local residents,"said Huang.

-- HAINAN TO PHASE OUT OIL-FUELED AUTO SALES

China's southernmost island province of Hainan will phase out sales of traditional oil-fueled vehicles throughout the province by 2030 in a bid to promote the use of new energy vehicles.

Starting this year, all vehicles added or replaced in the public service sector, including government cars and buses, will use clean energy. By 2030, the sales of oil-fueled vehicles will not be available throughout the province.

-- TESLA 1,700 SUPER CHARGERS IN CHINA

U.S. electric car maker Tesla had expanded the charging network in China and built more than 1,700 super chargers in its biggest overseas market.

With a supercharger, a vehicle can be fully charged within an hour. The company has also installed more than 2,100 regular chargers in cities and tourist destinations across the country.

-- CHINA NEV INDUSTRY DEVELOPMENT PLAN

China is working on a new energy vehicle (NEV) industry development plan (2021-2035) in a bid to clarify the country's development path for the industry, according to Xin Guobin, vice minister of industry and information technology.

The plan will support multiple technologies, give better play to the market mechanism to boost innovation, and optimize industrial layout and improve infrastructures, Xin said.

-- BYD NEV SALES

Leading Chinese NEV maker BYD sold 26,571 NEVs in June, up from 17,088 in the same period last year.

The strong growth was primarily fueled by the sales surge in the pure electric passenger vehicles, soaring from 16,278 units in the same period last year to 25,849 units. In the first half of this year, BYD's NEV sales totaled 145,653 units, up 94.5 percent year on year.

-- SHANGHAI TO LAUNCH STAINLESS STEEL FUTURES

The Shanghai Futures Exchange will strive to launch stainless steel futures within this year, according to the exchange's chairman Jiang Yan.

The exchange will also make good preparations for the launch of aluminum oxide and ferrochromium futures, Jiang told the China Steel Derivatives International Conference. The new futures products will be added to better meet the enterprises' demand for risk management, he said. Enditem

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