By Xinhuanet| 2021-08-24 20:56:31

Great Wall Motors, China's leading sport utility vehicle (SUV) and pickup manufacturer, has signed an agreement with Daimler AG on the acquisition of the German carmaker's plant in Brazil.According to the agreement, the Iracemapolis plant in Brazil will be handed over to Great Wall Motors by the end of this year.Great Wall Motors said it would transform the plant to enable an annual production capacity of 100,000 vehicles and create nearly 2,000 jobs.The Hebei-based automaker has accelerated its overseas layout in recent years. Apart from Brazil, the Great Wall Motors Tula plant in Russia was completed and put into operation in 2019. The company also acquired two GM plants in India and Thailand in 2020.Meng Xiangjun, rotating president of Great Wall Motors, said the acquisition of the plant in Brazil will accelerate its presence in the South American market and further build the company into a global technology mobility company.Headquartered in the city of Baoding, north China's Hebei Province, Great Wall Motors owns several SUV and car brands including Haval, Great Wall, WEY and ORA. Enditem

By Xinhuanet| 2021-08-23 20:44:09

Quan Helong, a resident of Jinxi County, east China's Jiangxi Province, visited several automobile dealerships recently, as he is in the market to buy his second new energy vehicle (NEV)."It only costs 6 yuan (about 92 U.S. cents) to charge 10 kWh of electricity, on which the car can travel 100 km," said the 58-year-old, who bought a second-hand NEV two years ago and plans to buy a new one with better performance.Wei Xinliang, a villager from Anfu County, is also considering buying a new NEV to replace his old one that only had a range of 100 km. He found new NEV models selling in the market promise a range of 700 km with sleek designs and upgraded intelligent autopilot technology.There is a thriving market of eco-friendly NEVs in the vast rural areas across the country due to affordable prices and convenient charging facilities.Li Yizhang, a car dealer in Wuning County, Jiangxi, has witnessed the rapid development of the NEV market in rural areas in recent years."I began to sell NEVs in 2014. Only a third of our shop area was used to display NEVs and the rest was used for motorcycles at that time. But now, there are only NEVs in our shop," Li said."It's very easy to sell 400 to 500 NEVs every year, and half of the buyers come from rural areas," said Li, adding that rural customers often own yards, which enable them to install charging piles, and the price of electricity is low.Li believes that NEV sales in rural areas will see an explosion in the near future.To prompt the usage of NEVs in rural areas, the Ministry of Industry and Information Technology, the Ministry of Agriculture and Rural Affairs, and the Ministry of Commerce have jointly mapped out a series of promotional activities in the second half of this year.Local governments are encouraged to release supporting policies on NEVs, improve the environment for the use of NEVs and promote the construction of NEVs-related infrastructure in rural areas while participating enterprises are encouraged to unveil better quality NEVs, favorable prices and better after-sales service.In Jiangxi Province alone, a total of 18 NEVs producers exhibited more than 50 models in different localities across the province in July. Eastern provinces including Jiangsu, Zhejiang, central China's Hubei Province and northeast China's Liaoning have also rolled out policies and measures to boost the NEVs consumption in rural areas.Statistics from the China Association of Automobile Manufacturers (CAAM) showed that during another NEV promotion activity in rural areas in May, approximately 69,000 NEVs were sold, up 280 percent year on year. While the figure in rural areas was 120 percentage points higher than the industry growth rate during the same period."The promotion activities have sped up the recovery of the domestic auto market and accelerated the transition of the NEV market from policy-driven to market-driven," said Xu Haidong, deputy chief engineer with CAAM. Enditem

By Xinhuanet| 2021-08-20 23:00:50

China's two major steelmakers, Ansteel and Ben Gang Group Corporation, inked a deal on Friday to kick off their merger and restructuring that will create the world's third-largest steelmaker.According to the deal, the owner of Ben Gang -- Liaoning Province's State-owned Assets Supervision and Administration Commission -- will transfer a 51-percent controlling stake in the steelmaker to Ansteel, and Ben Gang will become a subsidiary of Ansteel.After the merger, Ansteel will have an annual production capacity of 63 million tonnes of crude steel, ranking third worldwide after China Baowu Steel Group Corporation Limited and Luxembourg-headquartered ArcelorMittal.The merger will increase the consolidation of the steel industry, step up high-quality development of the industry, and forge a world-class steel firm, according to a statement released by Ansteel, or Angang Steel Co., Ltd.Founded in 1916 and 1905 respectively, Ansteel and Ben Gang are both located in northeast China's Liaoning Province."After the realignment, we will realize resource integration and coordinated development in R&D, procurement and sales, making a contribution to the revitalization of Liaoning and northeast China," said Tan Chengxu, chairman of Ansteel.By 2025, Ansteel targets an annual output of about 70 million tonnes of crude steel and 50 million tonnes of iron concentrate, generating around 300 billion yuan (about 46.3 billion U.S. dollars) of operating income. Enditem

By Xinhuanet| 2021-08-19 23:08:09

Market penetration of new energy vehicles (NEVs) in China is set to rise further as the economy steadily recovers and public awareness for environmental protection grows, the Ministry of Commerce (MOC) said Thursday.Earlier data showed China's NEV sales hit a historic high to nearly 1.48 million units in the first seven months of the year, surpassing the total NEV sales in 2020.The data accounted for 10 percent of new car sales during the period, up 6.1 percentage points from the share in the same period last year.MOC spokesperson Gao Feng attributed the strong growth to a slew of government efforts to spur consumption of these green vehicles, including launching promotion activities in rural areas, easing purchase restrictions, and making charging and parking services more convenient.NEV sales should sustain the growth momentum, Gao noted.China aims to raise the proportion of new NEVs in the sales of new vehicles to 20 percent by 2025, according to a development plan for China's NEV industry released last year. Enditem

By Xinhuanet| 2021-08-18 21:24:38

Import and export cargo volumes at the border rail port of Huichun in northeast China's Jilin Province have exceeded 2 million tonnes so far this year, an annual rise of 300 percent, according to the border checkpoint in Huichun.Located in easternmost Jilin, Huichun borders Russia and the Democratic People's Republic of Korea.Thanks to China-Europe freight trains and the railway that links China and Russia, the freight volume of Huichun border rail port has risen significantly this year, with goods mainly including automobile glass, tires, bearings and daily necessities. Enditem

By Xinhuanet| 2021-08-17 22:22:53

The foreign trade of southwest China's Chongqing Municipality totaled 442.45 billion yuan (about 68.26 billion US dollars) from January to July, up 31.6 percent year on year, customs data showed.Chongqing's exports surged 31.1 percent to 276.34 billion yuan, while imports increased to 166.11 billion yuan, up 32.3 percent year on year.In July alone, the total value of imports and exports was 65.97 billion yuan, up 5.3 percent year on year.ASEAN, the European Union and the United States remained Chongqing's major trading partners, with their import and export values respectively at 71.57 billion yuan, 69.81 billion yuan and 66.42 billion yuan.During the same period, imports and exports to countries along the Belt and Road reached 121.09 billion yuan, up 32 percent year on year.In the first seven months, Chongqing's private and state-owned businesses posted strong performances, with the import and export value of private businesses soaring to 192.75 billion yuan and the import and export value of state-owned businesses climbing to 40.72 billion yuan, respectively up 68.6 percent and 50.5 percent year on year.The municipality said major export commodities included notebook computers, integrated circuits and tablet computers. Enditem

By Xinhuanet| 2021-08-16 22:08:18

The foreign trade of northwest China's Shaanxi Province rose by 25.1 percent to around 265.4 billion yuan (about 40.95 billion U.S. dollars) in the first seven months of 2021, local customs authorities said.The figure represents the first time this year that the growth rate of Shaanxi's foreign trade has exceeded that of the whole country, said customs of the provincial capital Xi'an.During the period, the province's exports stood at 136.2 billion yuan, up by 30.3 percent year on year, while its imports rose by 20.1 percent to 129.1 billion yuan, it said.The export of Shaanxi's mechanical and electrical products grew by 33.9 percent to about 123 billion yuan, accounting for more than 90 percent of the province's total.Shaanxi saw active trade relations with countries along the Belt and Road during the period, registering a total trade of nearly 43.5 billion yuan with these countries, up by 25.9 percent year on year. Enditem

By Xinhuanet| 2021-08-13 20:45:30

China's auto consumption has continued its stable recovery, with sales of new energy vehicles (NEVs) hitting a historic high in the first seven months of the year, according to the Ministry of Commerce (MOC) on Friday.In the January-July period, sales of NEVs in the country tripled from a year ago to near 1.48 million units, surpassing total NEV sales in 2020, said the MOC.In July alone, NEV sales jumped 160 percent year on year to 271,000 units, hitting a monthly historic high, the MOC added.Auto manufacturers sold approximately 14.76 million vehicles in the first seven months of the year, up 19.3 percent year on year.However, sales in July dropped 11.9 percent year on year to over 1.86 million units, marking a third monthly contraction, said the MOC.The MOC has attributed the slowdown in total auto sales since May to the high base from the same period last year as well as a shortage of auto chips.MOC data has also revealed that China's second-hand vehicle trading market experienced a boom in the first seven months.Over 9.89 million second-hand vehicles were traded during the period, up 46 percent year on year. Enditem

By Xinhuanet| 2021-08-12 19:58:18

SAIC-GM-Wuling (SGMW), a major Chinese automobile manufacturer, reported strong vehicle export growth in the first seven months of this year, the company said.SGMW, located in Liuzhou, south China's Guangxi Zhuang Autonomous Region, exported 87,401 vehicles during the period, up by 98 percent year on year, exceeding its total export volume of last year.Its total sales revenue in overseas markets in the period reached about 4.35 billion yuan (nearly 672 million U.S. dollars), up by 56 percent compared with the same period last year.A total of 24,214 units of the SGMW's compact crossover SUV model Baojun 530 were exported between January and July, surging by 170 percent year on year. The exports of the Baojun 510, another SUV company brand, reached 8,364 units.Following the countries of Chile, Peru, El Salvador, and Costa Rica, at the end of June, 1,000 units of its brand Hongguang V were exported to Mexico for the first time, the company said. Enditem

By Xinhuanet| 2021-08-11 19:26:45

China's auto sales rose 19.3 percent year on year to nearly 14.76 million units in the first seven months of 2021, data from the China Association of Automobile Manufacturers (CAAM) showed on Wednesday.Sales of passenger vehicles increased 21.2 percent year on year to nearly 11.56 million units in the January-July period, according to the data.In July alone, auto sales totaled over 1.86 million units, down 11.9 percent year on year, said CAAM deputy secretary-general Chen Shihua, noting a downward trend in both production and sales for the month.Chen attributed the decline to an insufficient supply of chips, rising raw materials costs, uncertainties brought by extreme weather events and COVID-19 resurgence in the country.Bucking the trend, production and sales of new energy vehicles (NEVs) showed remarkable growth last month by setting new monthly records.NEV sales in China jumped to 271,000 units in July, up 160 percent year on year, while NEV output surged 170 percent to 284,000 units.In the first seven months of the year, the country's NEV sales totaled nearly 1.48 million units, double the figure from the same period last year, as production and demand continued to recover, according to the CAAM.Looking ahead, the steady momentum of China's economy will continue despite uncertainties from both home and abroad, said the association.However, considering global chip shortage due to resurgence of overseas COVID-19 cases, and growing cost pressure for auto makers, CAAM said it is cautiously optimistic about the future of the auto industry. Enditem