Briefly

Retail fuel prices up, track global trend

China has raised the retail prices of gasoline and diesel from Friday. Based on recent changes in international oil prices, the retail prices of gasoline and diesel will increase by 250 yuan ($38.11) and 240 yuan per metric ton, according to the National Development and Reform Commission. Under the current pricing mechanism, if international crude oil prices change by more than 50 yuan per ton and remain at that level for 10 working days, the prices of refined oil products such as gasoline and diesel in China will be adjusted accordingly. In the short term, oil prices will continue to fluctuate, but there is limited room for an oil price increase, according to the commission's price monitoring center.

Trade with Ukraine sees steady growth

Despite the COVID-19 pandemic, trade between Ukraine and China has seen positive dynamics this year, a Ukrainian trade leader said. Gennady Chyzhykov, president of the Ukrainian Chamber of Commerce and Industry, made the remarks at a video conference of the Chinese-Ukrainian Business Council. Chyzhykov said China became one of Ukraine's largest trade partners in 2019 and bilateral trade amounted to about $13 billion. During the first six months of this year, trade between the two countries rose by 20 percent on a yearly basis, while Ukraine's exports to China increased by 70 percent.

BMW to recall 740 imported vehicles

BMW (China) Automotive Trading Ltd will recall 740 imported cars in the Chinese market due to faulty front tie rods. The recall, set to begin on Jan 1 next year, will involve some imported X5, X6, X7 and X5 M models manufactured between May 29 and Sept 11, said a statement issued by the State Administration for Market Regulation. The bearing seat of the right front tie rod of the front axle girder may not be firmly welded, leading to a risk that the right front wheel might fall off.

Xinhua