BYD’s billions

Another great quarter for BYD: Electric vehicle (EV) and battery manufacturer BYD Auto 比亚迪汽车 has announced revenue for the third quarter of 117.08 billion yuan ($16.13 billion), a year-on-year increase of 115.6%, and net profit of 5.72 billion yuan ($788.09 million), an increase of 350.3%. During the first three quarters, BYD sold 1.185 million passenger vehicles, a year-on-year increase of more than 160%, surpassing Tesla’s 909,000 units. On October 30, BYD also announced it was ordering eight cargo ships, at a total cost of 5 billion yuan ($688.89 million), to ship its vehicles to overseas markets.

New government big data system: On October 28, the State Council issued guidelines for the construction of a national integrated government big data system. By 2023, the system will be able to collect, catalog, and manage all government data, and by 2025 will be able to circulate the data effectively and securely.

New rules for celebrity endorsements: Earlier today, the State Administration for Market Regulation and six other government bodies issued new regulations governing celebrity endorsements in advertising. Henceforth, when selecting celebrities for endorsements, companies will be required to fully review the celebrity’s employment and credit status, and should avoid selecting “illegal and immoral” celebrities or any who have been punished for false advertising in the preceding three years.