Bus maker gets export lift

Bus maker Zhengzhou Yutong Bus reported that export volumes for the first quarter rose 56 percent on the previous corresponding period, thanks to new business brought about by the Belt and Road Initiative. The company said it recently received an order for 500 large buses from Myanmar. The company has delivered over 1,000 passenger buses to Myanmar since it entered the country in 2010. Executives said the Belt and Road Initiative and the Made in China 2025 plan are offering more chances for the company to expand its global presence. Yutong’s products have been sold to more than 40 countries along the Belt and Road. It has carried out production and technology cooperation with countries including Myanmar, Pakistan, Iran and Cuba, and auto parts from Yutong can be assembled in those countries. valuation effects. The Munichbased automaker reported a pretax profit of 3 billion euros ($3.23 billion) for the first three months, surging 27 percent compared with the same period in 2016. The jump in profits was largely driven by a one-off positive revaluation of its stake in the mapping service, as well as higher profits from its operations in China. Revenues climbed by 12.4 percent to 23.45 billion euros in the period. by Tesla Auto Sales (Beijing) Co to the country’s General Administration of Quality Supervision, Inspection and Quarantine. All the vehicles were manufactured between February and October of 2016, the watchdog said in a statement. It said the parking brake system in some of those cars may have defective gears that may break once engaged. If the gear were to break, the parking brake cannot be disengaged. The company will replace defective brake calipers free of charge. year to 43.51 billion euros, while imports increased by 15.1 percent to 49.26 billion euros, the ministry said. Exports rose in Spain more than the eurozone average, which increased 8.0 percent in the month, and the European Union’s average, which improved 7.9 percent. Spain’s exports of capital goods rose by 7.5 percent, those of food, drinks and tobacco by 13.3 percent, and exports related to the automobile industry rose by 7.2 percent. Meanwhile, imports of capital goods rose by 13.9 percent in February, those of energy products increased by 81.5 percent, while those of the automobile sector gained 2.7 percent.