Business briefs for Wednesday August 10

Stories fresh from the Chinese media and government publications today:

Big jump in green loans: According to data released by the People’s Bank of China, China’s central bank, as of the end of the second quarter, China’s domestic and foreign currency balance of green finance (for clean energy and energy saving projects etc.), was 19.55 trillion yuan ($2.89 trillion), an increase of 40.4% year-on-year. 

New player in the high-end electric vehicle market: On Monday, Avatr 阿维塔, a new brand jointly created by Chang’an Automobile 长安汽车, CATL 宁德时代, and Huawei 华为, launched two new fully electric sedan models. 

Three more chip “madmen” detained: Yesterday, three more executives connected to a microchip industry investment fund were detained, extending the investigation that has shocked China’s semiconductor industry (see our report of last week on the arrest of China’s “chips madmen”).