Briefly

Power battery output, installed capacity soar

China's output and installed capacity of power batteries saw rapid expansion in February amid the sound development of the country's new-energy vehicle market, industry data showed. During this period, the country's power battery output stood at 41.5 gigawatt hours, up 30.5 percent year-on-year and jumping 47.1 percent month-on-month, according to the China Automotive Battery Innovation Alliance. The installed capacity of power batteries totaled 21.9 gigawatt hours in the same period, surging 60.4 percent year-on-year and up 36 percent from January, said the alliance.

Warehouse storage sector expands slower

China's warehouse storage sector expanded at a slower pace in March, according to a survey jointly released by the China Federation of Logistics and Purchasing and CMST Development Co Ltd. The index tracking the sector's development stood at 50.2 last month, down 6.1 points from February, the survey showed. A reading above 50 indicates expansion, while a reading below 50 reflects contraction. The index continued expansion in March, though at a slower pace, due to a high base in February, suggesting steady recovery of the sector, said Wang Yong, vice-president of CMST Development.

Tianjin Port reports foreign trade growth

North China's Tianjin Port's foreign trade grew 19.1 percent year-on-year to 309.26 billion yuan ($44.98 billion) in the first two months of the year, ranking first among China's top 10 ports, local Customs data showed. Its trade with economies involved in the Belt and Road Initiative totaled 107.22 billion yuan, up 38.8 percent year-on-year, according to Tianjin Customs. Trade with Regional Comprehensive Economic Partnership members rose 20.3 percent to total 101.16 billion yuan.

General Motors sales down 25% in Q1

General Motors Co and its joint ventures in China sold 462,000 vehicles in the country in the first quarter of this year, down 25 percent year-on-year, The Detroit News reported. All GM brands registered a sales decline in the first quarter. Buick sales declined 35 percent, Chevrolet declined 34 percent, Cadillac 32 percent, Wuling 13 percent and Baojun 87 percent. The US automaker attributed the sales decline to tax cuts on auto sales and electric vehicle subsidies ending.

Xinhua - China Daily