A trillion yuan for water conservation
Business briefs from the Chinese media โ Wednesday December 14
China invested more than a trillion yuan in water conservation projects from January to November, the equivalent of $144.75 billion, and an increase of 33% compared to the whole of 2021.
Guangzhou car show to go ahead: The Guangzhou Auto Show will take place from December 30 to January 8, after it was postponed from November due to a COVID outbreak in the city. This edition promises to feature fewer brands than in previous years, but XPeng ๅฐ้นๆฑฝ่ฝฆ, GAC ๅนฟๆฑฝ้ๅข, and BMW have confirmed their attendance.
Is the appliance king leaving his throne? On Friday, Huรกng Guฤngyรน ้ปๅ ่ฃ, chairperson of embattled home appliance retailer Gome ๅฝ็พ้ถๅฎ, sold nearly 420 million of his shares, reducing his holding to 27.7%. This was the fourth time in December that Huang reduced his shareholding in Gome, which stood at 59.94% in January.
Secondhand car market takes a dive: According to the China Automobile Dealers Association, the secondhand car market in November had a transaction volume of 1.27 million vehicles, a decrease of 5.43% month-on-month and 17.18% year-on-year. The cumulative transaction volume for January to November was 14.61 million vehicles, a year-on-year decrease of 8.49%.
