Briefly

Car sales increase by 8% on yearly basis

Passenger car sales continued to expand in China during October, as the better-than-expected economic recovery and export market helped stabilize consumer confidence. Retail sales of China's passenger vehicles, including sedans, sport utility vehicles, minivans and multipurpose vehicles, rose by 8 percent on a yearly basis to 1.99 million units last month, according to the China Passenger Car Association. Sales in October rose by 4.1 percent on a monthly basis due to effective local sales promotions.

Cultural sector fair begins in Shenzhen

The 16th China (Shenzhen) International Cultural Industries Fair, a virtual exhibition platform, started on Monday in Shenzhen, Guangdong. A total of 3,243 companies from 30 countries and regions, such as Japan, France and Brazil, are participating in the five-day event, which has more than 21,000 exhibitors.

Jiangsu sees booming digital economy

Digital economy accounted for over 40 percent of Jiangsu province's GDP, with 4 trillion yuan ($600 billion) in 2019, according to local authorities. The province's digital industry maintained steady growth this year, with the electronic information manufacturing sector seeing a 6 percent growth in operating income to 1.9 trillion yuan on a yearly basis during the first nine months. Jiangsu has been speeding up the construction of its information infrastructure. By the end of September, telecom enterprises in the province had invested 10.8 billion yuan in the construction of 5G networks, and built and opened 63,000 5G base stations.

Xinhua - China Daily