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Four firms get nod for parallel imports
Four automobile trading companies have got approval from the Ministry of Commerce for parallel imports of vehicles in the Haikou Comprehensive Bonded Zone in Hainan province. More than 200 vehicles are expected to enter the bonded zone by the end of this year through parallel imports, said a recent report in Hainan Daily. The four pilot companies are China (Haikou) Automobile Trading Co Ltd, Hainan Juseng Automobile Sales Service Co Ltd, Benshun Zhongcheng Automobile Supply Chain Management Co Ltd and Jingang Huayu International Trade Co Ltd.
Dalian signals shift to green vehicles
The northeastern port city of Dalian will start using environment-friendly buses and ride-hailing cars in urban areas in the next few years. Local public transport operators will replace all gasoline-powered vehicles running in the four urban districts with new energy vehicles by 2020, the city government said on Monday.
Renminbi weakens against greenback
The central parity rate of the renminbi, or the yuan, weakened by 35 basis points to 6.928 against the US dollar on Tuesday, according to the China Foreign Exchange Trade System. In China’s spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day. The central parity rate of the yuan against the US dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.
BYD electric buses tested in Tunisia
Tunisia has started a sixmonth road test of electric buses made by China’s BYD Co. The buses can travel 250 kilometers at an average speed of 70 km per hour on full charge and have a passenger capacity of 90. The vehicle is in line with European standards in terms of clean energy, totally silent and environment friendly as it emits no pollutants.
Disney’s Fox deal gets China approval
Walt Disney Co on Monday got the necessary approval from China for its deal to buy Twenty-First Century Fox’s entertainment assets. Disney agreed to purchase Fox’s film and television assets for $71.3 billion and received approval from the European Commission earlier this month, subject to certain conditions.
Tesla interested in Daimler van tie-up
Tesla Inc could be interested in partnering with Daimler AG’s Mercedes-Benz on an electric version of its Sprinter van, Chief Executive Officer Elon Musk said in a posting on social media on Monday. “Maybe interesting to work with Daimler/Mercedes on an electric Sprinter. That’s a great van. We will inquire,” said Musk replying to a comment about an electric van.
Boeing gets plane order from Jeju Air
South Korean budget carrier Jeju Air has ordered 40 airplanes from US manufacturer the Boeing Co for $4.4 billion, making it one of the country’s largest-ever aircraft purchases, the airline said on Tuesday. Jeju Air is placing firm orders for 40 B737-MAX 8 models, with deliveries running from 2022 to 2026, with options for 10 more, it said in a regulatory filing.
Engineering exports show good growth
Exports by German mechanical engineering companies continued to rise during the first nine months of 2018, said a report from the German Mechanical Engineering Industry Association. The association said machine deliveries had increased by a nominal 5.2 percent to 131.9 billion euros ($150.7 billion) between January and September compared with the same period a year ago.
S. Korea producer prices fall in Oct
Prices of goods and services among South Korean suppliers fell for the first time in 11 months in October on lower farm goods prices, the country’s central bank data showed on Tuesday. The producer price index stood at 105.41 in October, down 0.4 percent from the previous month, according to the Bank of Korea. It was the first decline since November last year.
Vietnam and India bolster trade ties
Vietnam and India have agreed to boost trade while expanding their cooperation in a range of fields. Speaking to reporters at a joint news briefing in Vietnam’s capital, Hanoi, Indian President Ram Nath Kovind said on Tuesday that he believes the bilateral trade volume will reach $15 billion by 2020, up from $12.8 billion last year.
VW deliveries down 10% due to WLTP
German automaker Volkswagen Group’s deliveries fell again in October as the transition to the new Worldwide harmonized Light vehicles Test Procedure (WLTP) in Europe continued to weigh on Volkswagen’s business, according to figures published on Monday. A total of 846,300 Volkswagen vehicles were handed over to customers throughout the world in October 2018, marking a decrease of 10 percent compared to the same period last year.
Wanhua set to start work on US facility
Chemical giant Wanhua has selected a Louisiana location for its $1.25 billion chemical manufacturing complex in the United States. State officials said in a news release that Wanhua will begin construction on the project in Convent, Louisiana, in 2019, and put the facility into operation in 2021.