Weekly snapshot of China's local business news

0 Comment(s)Print E-mail Xinhua, January 11, 2020
Adjust font size:

BEIJING, Jan. 11 (Xinhua) -- The following are highlights of China's local business news from the past week.


U.S. electric carmaker Tesla officially delivered the first batch of 10 made-in-China Model 3 sedans to the public, one year after the company broke ground on its first overseas plant.

The company also announced the launch of a project to manufacture Model Y vehicles in its Shanghai gigafactory.


China's Zhejiang Geely Holding Group and German carmaker Mercedes-Benz have established a joint venture to operate and develop the Smart brand globally.

The joint venture has registered capital of 5.4 billion yuan (about 777.5 million U.S. dollars), with each side contributing 2.7 billion yuan.


Luckin Coffee, one of China's largest coffee chains, announced its entering into the unmanned retail market in a bid to further densify its network and step closer to its customers.

The company also launched its smart unstaffed coffee machine "Luckin Coffee Express" and smart vending machine "Luckin Coffee Pop MINI" at its strategy conference.


China's leading new energy vehicle (NEV) manufacturer BYD said its NEV sales declined 7.39 percent year on year to 229,506 units in 2019.

In the passenger-vehicle sector, BYD's sales of purely electric vehicles surged about 42.5 percent year on year to 147,185 units while sales of plug-in hybrid electric vehicles plunged 41.8 percent to 72,168 units. Meanwhile, its commercial NEV sales fell by 50.9 percent to 10,153 units.


An estimated 19.05 billion U.S. dollars of foreign capital entered Shanghai in 2019, a new high in the city's history, according to the municipal government.

An average of over 52 million U.S. dollars of foreign capital was invested in Shanghai daily, as the regional headquarters of 720 foreign-funded multinational companies as well as 461 foreign-funded R&D centers landed in the city by the end of 2019.


The China-Central Asia Gas Pipeline delivered over 47.9 billion cubic meters of natural gas to China in 2019, according to PetroChina West Pipeline Company.

The pipeline runs from the border between Turkmenistan and Uzbekistan, passes through Uzbekistan and Kazakhstan and links up with China's West-to-East gas pipeline in Horgos, Xinjiang Uygur Autonomous Region. Enditem

Follow China.org.cn on Twitter and Facebook to join the conversation.
ChinaNews App Download
Print E-mail Bookmark and Share

Go to Forum >>0 Comment(s)

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Enter the words you see:   
    Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from China.org.cnMobileRSSNewsletter