Electric vehicle sales to slow in 2023
Business briefs from the Chinese media — Monday December 12
Electric vehicle sales to slow in 2023: According to the China Association of Automobile Manufacturers (CAAM), sales of electric vehicles (EVs) in China will reach 9 million units in 2023, a year-on-year growth rate of 35%, but much slower than the 90.3% growth expected for 2022.
Oil production breaches 200 million tons again: According to an offshore energy development report published on Saturday, China’s oil production in 2022 is expected to reach 205 million tons, the first time since 2016 that it will exceed 200 million tons. 205 million tons is equivalent to production of around 1.48 billion barrels of oil in 2022; the U.S. is expected to produce around 4.27 billion barrels in 2022.
Increasing China-Europe rail trade: According to China Railway, from January to November this year, there have been a total of 15,162 trains between China and Europe that carried a total of 1.47 million twenty-foot equivalent units (TEUs, i.e., containers), which represent year-on-year increases of 10% and 11%, respectively.
