TCM gets a boost

The National Administration of Traditional Chinese Medicine has released a new 14th Five-Year Plan for the “informatization” of traditional Chinese medicine (TCM), including the launch of “smart” TCM treatment centers at 20 tertiary hospitals and TCM internet hospitals with online diagnosis and treatment.

High-end tea brand Naixue 奈雪, which recently changed its name to remove any association with Japan, has invested 525 million yuan ($74.71 million) in high-end tea brand Lelecha 乐乐茶, making it the latter’s controlling shareholder with a 43.64% stake.

Sales of electric passenger cars totalled 732,000 units in November, a month-on-month increase of 8% and a year-on-year increase of 71%, according to the China Passenger Car Association.

Foxconn, the Taiwanese multinational electronics contract manufacturer also known as Hon Hai Technology Group 鸿海科技集团, has announced revenue for the month of November of $18.02 billion, a year-on-year decrease of 29.04%, but for January to November total revenue was $195.93 billion, an increase of 13.56% and a record high.

BYD goes big in Japan: Electric vehicle (EV) market leader BYD 比亚迪 has announced it will start selling EVs in Japan from early next year, starting with the ATTO 3 SUV. The company plans to launch two more models in Japan in 2023 and open more than 100 dealerships by 2025.