Briefly

Auto sales back on track in December

Retail sales of passenger cars reached 2.169 million units in December, a year-on-year increase of 3 percent — a huge improvement from the 9.1 percent year-on-year fall in November, said the China Passenger Car Association on Tuesday. Sales in December rose 31.4 percent from the previous month, marking the strongest month-on-month performance since 2008. Last year, cumulative retail auto sales stood at 20.543 million units, an increase of 1.9 percent year-on-year, and a net increase of 386,000 units year-on-year. Since the launch of preferential policies to reduce car purchase taxes, passenger car sales saw a 1.452 million unit year-on-year increase from June to December, suggesting a strong contribution of the policy to the passenger car market, the association said.

Homegrown passenger jets off to flying start

The large passenger aircraft industry is gaining traction in Shanghai as the narrow-body C919 aircraft has netted 1,035 orders, and the wide-body CR929 model has completed the first-round requirement validation, an official report said on Tuesday. As of the end of 2022, the homegrown regional passenger jet ARJ21 aircraft has received 690 orders from 25 customers, and 100 ARJ21 aircraft have been delivered to nine Chinese and overseas companies, the official website of China Securities Journal reported.

China key buyer of Cambodian produce

China was one of the key importers of Cambodian agricultural produce in 2022, according to a report released by the Cambodian Ministry of Agriculture, Forestry and Fisheries. The report said China purchased a number of Cambodian agricultural products, particularly milled rice, bananas, mangoes, cassava, cashews, corn, longans and pepper, among others. It added that 689,702 tons of Cambodian agricultural products were shipped to China during the January-November period in 2022.

PBOC conducts reverse repos

China's central bank conducted 2 billion yuan ($295.81 million) of reverse repos on Tuesday to maintain liquidity in the banking system. The interest rate for the seven-day reverse repos was set at 2 percent, according to the People's Bank of China.

China Daily - Xinhua