CHINA PRESS: China Foreign Trade Remains Resilient
China's foreign trade remains resilient after achieving a smooth start this year, said Xiao Lu, deputy director of the Department of Foreign Trade at the Ministry of Commerce, speaking to reporters at a press conference. Xiao highlighted innovative Chinese products have driven new momentum and demand from around the world, including small coffee machines, sweepers, electric vehicles, ships and industrial robots. China has become the main trading partner of more than 150 countries and has signed 23 free trade agreements with 30 countries and regions, Xiao said, noting in 2024, trade to Belt and Road Countries accounted for more than 50% of the total. (Source: Securities Daily)
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CHINA PRESS: Car Prices Down During Jan And Feb
China saw new car average prices reach CNY30,000 during the first two months of the year, a decrease of 12.6%, with new energy vehicles down 13%, data from the Passenger Car Association showed. Plug-in hybrid models saw price reductions of less than 10%, indicating stronger demand, the Association said. The market will heat up after March as the government introduces subsidies, easing the ongoing price war.
CHINA PRESS: Second-hand Housing Markets Recover Further
China’s second-hand housing market transaction volume increased 38.45% y/y last week in 10 key cities, continuing the recent recovery, Securities Times reported. Second-hand transactions in first-tier Shenzhen have risen five consecutive weeks as purchasing sentiment increased, the newspaper said. Key cities are anticipated to ease restrictive policies further, while all regions are set to intensify efforts to support buyers utilising their Housing Provident Fund, according to the China Index Academy.
CHINA PRESS: China Railway Transport Up Y/Y
China’s railways transported 726 million passengers over January and February this year, up 4.7% y/y and setting a record high, data from the China State Railway Group showed. A representative from the Group said the nation saw an accelerated movement of students, migrant workers, families visiting relatives and tourists, leading to a strong growth in railway passenger traffic. (Source: Securities Daily)
