Post-COVID-zero tourism booking spree
Business briefs from the Chinese media โ Thursday December 8
โTen new measuresโ spur tourism booking spree: Yesterday, the State Council released โten new measuresโ to further reduce COVID prevention regulations, including the abolition of mandatory centralized isolation. Bookings for air and rail tickets and hotels for the upcoming Spring Festival immediately soared, with related online searches reaching the highest level in three years.
The Niutron SUV is not happening: Yesterday, the EV brand Niutron ่ชๆธธๅฎถ, which had announced its first model, the Niutron NV SUV, in October, announced that the 24,376 customers who had put down a deposit of 1,000 yuan ($143) for the Niutron NV will be refunded with a small scale model of the vehicle and a $200 Starbucks voucher.
Juicing up the real estate market: According to a real estate research institute, so far in 2022, local and county governments in China have released almost 1,000 different policies to support the housing market and the real estate industry, an indication of official determination to prop up an industry that is vital to Chinaโs economy but suffering from a severe downturn, debt, and other problems.
Car sales down but EV sales up in November: According to the China Passenger Car Association, retail sales of passenger cars in November were 1.64 million units, a year-on-year decrease of 9.2%, and sales from January to November were 18.36 million units, a year-on-year increase of 1.8%. Retail sales of electric vehicles (EVs) in November were 728,000 units, an increase of 70.2% year-on-year, and sales from January to November were 5.74 million units, a year-on-year increase of 104.6%. Reuters has further details.
