BRICS has announced its expansion by inviting six countries to join In a landmark move on the morning of August 24th, leaders at the fifteenth BRICS summit unveiled a significant expansion of the organization. Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates have been invited to join the BRICS cooperation framework. 15th […]
Author Archives: Boyang Shen
21
Aug
Aug
1.China holds Key Mortgage Rate steady, stoking market concerns amid property crisis On 21st August, in an unexpected move, the People’s Bank of China (PBOC) maintained its five-year loan prime rate (LPR) at 4.2% during the August adjustment, fueling apprehensions about how the nation intends to navigate the current property sector turmoil and bolster homebuyer […]
24
Jul
Jul
1. Audi and SAIC formulate strategic partnership to fast-track Electrification amid rapid market shift in China On 20th April, in a significant move towards sustainable mobility, Audi confirmed a strategic partnership with China’s state-owned SAIC Motor Corp. Both entities are committed to expedite the electrification of their automotive portfolio, aligning with the rapid transition towards electric […]
17
Jul
Jul
1. China’s GDP grow by 6.3% in the second quarter and 5.5% in the first half of 2023 According to the Preliminary data released by the National Bureau of Statistics in the first half of 2023, China’s GDP reached 59,3034 trillion yuan. Accounting for constant prices, this represents a year-on-year increase of 5.5%. Analyzing by industry, […]
10
Jul
Jul
1. BYD to invest US$620 million for 3 factories in Brazil, to produce affordable vehicles and batteries for local markets BYD, the world’s largest electric vehicle (EV) maker, has announced its plans to make a strategic investment of US$620 million in the establishment of an industrial complex in Bahia state, northeastern Brazil. This ambitious project, which […]
03
Jul
Jul
Welcome to the very first edition of our Glopen weekly newsletter, that brings you the latest business news, trends and topics related to China. In our weekly newsletters, we not only provide you objective information about China but also a fresh new perspective to view China. 1. In June, China’s Manufacturing Purchasing Managers’ Index (PMI) was […]