Briefly

China builds industrial park in Ethiopia

The Kilinto Industrial Park, built by China Railway No 4 Engineering Group Co Ltd on the outskirts of Ethiopia's capital Addis Ababa, was officially handed over to the Ethiopian side. Built at a cost of $204 million, some 15 kilometers southeast of the city center, the 270 hectares park exclusively targets pharmaceutical firms. It is expected to boost Ethiopia's economy by exporting pharmaceutical products as well as import substitution industrialization. As the largest industrial park in Addis Ababa, the KIP is one of five such construction projects commissioned by the Ethiopian government.

Pre-owned car sales soar in first 7 months

China's used vehicle sales surged 14.54 percent year-on-year in the first seven months of 2023, data from the China Automobile Dealers Association showed. More than 10.34 million used vehicles were sold during the period, with a total transaction value of 654.69 billion yuan ($89.86 billion), according to the association. In July, China's used vehicle sales increased 8.93 percent year-on-year to top 1.57 million units, with a total transaction value of approximately 102.96 billion yuan. The association attributed the growth to the rising demand for summer travel, following the optimization of COVID-19 prevention measures.

Xinhua - China Daily