China’s trade tanked in November
Business briefs from the Chinese media โ Wednesday December 7
Stocks in Hong Kong tumbled today on Chinaโs weaker than expected trade data for November. The Hang Seng dropped 3.22%, the biggest decline in six weeks.
Chinaโs exports in November decreased by 8.7% year-on-year to $296 billion, the lowest level since March 2020, while imports fell by 10.6% to $226.2 billion, the lowest level since June 2020. Chinaโs trade surplus in November decreased by $15.31 billion to $69.84 billion.
Another car maker goes electric: The state-owned Changan Automobile ้ฟๅฎๆฑฝ่ฝฆ, one of the Big Four Chinese automakers, has announced electric vehicle (EV) sales for November of 33,100 units, an increase of 193.81% year-on-year, and sales for January to November of 226,000 units, an increase of 140.51%.
Chinaโs digital economy is the worldโs second-largest, worth $7.1 trillion in 2021, behind only the U.S. with $15.3 trillion, according to a new report by the China Academy of Information and Communications Technology (CAICT), a government think tank.
