Business briefs from the Chinese media — Monday September 19

China’s first electric supercar: Last week, Aion 埃安, the electric car subsidiary of GAC Group 广汽集团, presented its new premium brand Hyper 昊铂 “electric supercar.” The standard model, with gullwing doors, can accelerate from 0 to 100 km/h (62 miles per hour) in 2.3 seconds, and has a price tag of just under 1.3 million yuan ($186,117).

Use of foreign capital increasing: According to the Ministry of Commerce, from January to August this year, the actual use of foreign capital in China was 892.74 billion yuan ($127.76 billion), an increase of 16.4% year-on-year. The largest increases in terms of investment in China over this period were from South Korea (58.9% year-on-year), Germany (30.3%), and Japan (26.8%).

Urban renewal campaign: According to the Ministry of Housing and Urban-Rural Development, in 2022, 51,000 urban communities will be renovated across China, affecting 8.4 million households. From January to August this year, 48,300 urban communities affecting 7.99 million households have already been renovated, accounting for 94.4% of the annual target.

National high-tech zones: According to the Ministry of Science and Technology, in the first seven months of this year, the total of 173 national high-tech zones across China achieved industrial output of 17.50 trillion yuan ($2.50 trillion), a year-on-year increase of 8.1%. These zones contain 84% of China’s total State Key Laboratories.