Weekly snapshot of China's local business news
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E-mail Xinhua, January 5, 2020
BEIJING, Jan. 5 (Xinhua) -- The following are highlights of China's local business news from the past week.
CHINA-MADE MODEL 3
U.S. electric carmaker Tesla delivered the first batch of Model 3 produced by its Shanghai plant, less than a year after the gigafactory broke ground.
Located in Lingang Area, a high-end manufacturing park in the southeast harbor of Shanghai, the plant is designed with an annual capacity of 500,000 electric cars.
AUDI SALES
FAW-Volkswagen Automobile Co. Ltd. said its Audi brand set a new sales record in China in 2019.
A total of 688,888 Audi vehicles were sold in China last year, up 4.2 percent year on year, and China maintained Audi's biggest single market in the world.
KWEICHOW MOUTAI
China's top liquor brand Kweichow Moutai has set a revenue target of 110 billion yuan (15.8 billion U.S. dollars) for 2020, up 10 percent year on year.
The company, which is based in southwest China's Guizhou Province, has also set a target of 50.5 billion yuan in net profit for this year, up 10 percent compared with 2019, according to a conference held by Kweichow Moutai Group.
YANGTZE RIVER
A total of 2.93 billion tonnes of cargo was shipped through the main reaches of the Yangtze River in 2019, an 8.9-percent increase from 2018, according to the administration of navigational affairs on the Yangtze River under the Ministry of Transport.
China's longest river has sat atop of world's inner waterways in terms of cargo flow for years.
DAQING OILFIELD
China's Daqing Oilfield Co. Ltd has churned out more than 2.4 billion tonnes of crude oil since 1959.
A subsidiary of China's largest oil producer PetroChina, the company produced more than 43.6 million tonnes of oil equivalent in 2019, about 1.96 million tonnes more than 2018.
HOLIDAY TRIPS
Chinese tourists are expected to make 450 million domestic trips during the upcoming Spring Festival holiday, said a report released by the country's major online travel agency Trip.com Group.
A total of 415 million trips were made across China during the Spring Festival holiday in 2019, up 7.6 percent compared with last year. About 4.6 billion domestic trips were made in the first three quarters this year, up 8.8 percent year on year. Enditem
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