Hydrogen industrial vehicle production line
Business briefs from the Chinese media โ Monday December 5
Hong Kong markets buoyed by hopes of an end to COVID zero: Hong Kong stocks rose to a three-month high today after several Chinese cities loosened pandemic controls.
Hydrogen industrial vehicle production line: On Saturday, a launching ceremony took place in Foshan, Guangdong Province, for a production line of hydrogen-powered industrial vehicles, including 3.5 ton and 7 ton forklifts, and 6 ton tractors.
What is a bank? On Friday, the China Banking and Insurance Regulatory Commission (CBIRC) and four other government departments issued a notice on regulating the use of the word โbank,โ which will henceforth be subject to approval by the CBIRC.
CATL gets partial legal win over CALB: On November 30, a court in Fuzhou, Fujian Province, ordered the recently IPOd battery manufacturer CALB ไธญๅๆฐ่ช to pay compensation of 2.63 million yuan ($374,642) to market leader CATL ๅฎๅพทๆถไปฃ for patent infringement. The amount is much less than the 518 million yuan ($73.71 million) claimed by CATL, but CALB will nonetheless appeal the ruling.
October bump for car imports: According to the China Automobile Dealers Association, from January to October, China imported 746,000 cars, a year-on-year decrease of 6.6%, but in October, imports were 75,000 units, an increase of 87.5%.
