Government support – Charm

China signals it will pull plug on subsidies for EVs with five-year plan exclusion

Cs news4 months ago08 mins

SHANGHAI/BEIJING (Reuters) -China has sent a clear signal that it is willing to pull the plug on subsidies for its electric vehicle industry after years of big-ticket government support fuelled a boom that has left the world’s second-largest economy saddled with vast oversupply, prompting it to push into global car markets. Top policymakers omitted electric…

Trade tensions and weak demand weigh on Chinese economy – China’s Manufacturing Activity Shrinks

Cs news5 months ago01 mins

The official non-manufacturing PMI, which covers services and construction, fell to 50.0 in September, its lowest reading since November. The composite PMI, which combines manufacturing and non-manufacturing data, edged up slightly to 50.6 from 50.5 in August. Overall, the data points to slow economic momentum across multiple sectors. Source link