Business briefs from the Chinese media — Thursday September 6
Business briefs from the Chinese media — Thursday September 6
A total of 33 cities in China are in lockdown as of this past weekend according to Caixin, affecting around 65 million people. As many as 103 cities across China reported COVID cases on Thursday, the highest level since the early days of the pandemic in 2020.
Still lots of money in booze: in the first half of the year, the total revenue of 18 Chinese A-share liquor companies was about 184.9 billion yuan ($26.67 billion), a year-on-year increase of 15.8%, and net profit of about 70.1 billion yuan ($10.11 billion), a year-on-year increase of 21.1%.
Auto imports rose in July: According to the China Association of Automobile Manufacturers (CAAM), in July, China imported a total of 70,000 complete vehicles, a month-on-month increase of 20.9% and a year-on-year decrease of 11.9%.
