Briefly

Geely, Foxconn team up for auto JV

Chinese automaker Zhejiang Geely Holding Group and Foxconn Technology Group have signed a strategic cooperative agreement to establish a joint venture company providing original equipment manufacturer production and comprehensive customized consulting services. The new company will produce goods and offer services relating to whole vehicles, parts, intelligent driving systems, automotive ecosystem platforms and the electric vehicle industry value chain to global automotive enterprises.

Hainan sees growth in foreign investment

The southern island province of Hainan saw strong growth in foreign investment last year. Preliminary data showed that the actual use of foreign investment in Hainan stood at $3 billion in 2020, double the figure of $1.5 billion in 2019, according to the provincial department of commerce. After the Hainan Island started building itself into a free trade port, more foreign investment has been flowing into the modern services sector.

Xinhua