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Leading car makers Maruti Suzuki, Hyundai and Tata Motors reported robust sales growth in the domestic market in February as the demand for personal mobility amid the COVID-19 pandemic continued to drive the market. Others, including Toyota Kirloskar Motor (TKM), Mahindra & Mahindra, and Honda Cars India, also reported strong wholesale dispatches to dealers last month. The country’s largest carmaker Maruti Suzuki India Limited (MSIL) said domestic sales increased 11.8% to 1,52,983 units last month, from 1,36,849 units in February 2020. The company’s sales during the month were driven by compact and utility vehicle segments. Last month, sales company’s compact segment models, including Swift, Celerio, Ignis, Baleno and Dzire, increased by 15.3% to 80,517 units, as against 69,828 cars in February last year. Similarly, utility vehicle dispatches to dealers, including Vitara Brezza, S-Cross and Ertiga, rose 18.9% to 26,884 units, as compared to 22,604 units in the year-earlier ... » Learn More about Maruti, Tata Motors post double-digit growth in Feb as demand for personal mobility remains robust

Strategy will consolidate nation's key role in global market, say experts China is seeking a new position in the global economy, aiming to simultaneously become a "world market" and a "world factory", which will consolidate its key role in the global market, with deeper integration into global society, according to top-level policy advisers. That is a blueprint not only for guiding this year's economic work, but also setting a basic principle for China's 14th Five-Year Plan (2021-25), indicating policymakers' determination to further open the domestic market. Legislators and political advisers will gather in Beijing this week to discuss the key issues of China's development at the annual sessions of the National People's Congress and the National Committee of the Chinese People's Political Consultative Conference. To achieve the goal, China will stabilize imports and expand exports, continually promote cross-border trade and investment and optimize the business environment ... » Learn More about Advisers: Dual circulation key to China’s development

CHICAGO－Sharp increases in China's retail sales volume during the Lunar New Year holiday week in February indicates that China has become a linchpin of not only the global supply chain but also global consumer spending, said a US scholar. China saw strong holiday spending nationwide, including by rural households and in tier-3 and tier-4 cities, Khairy Tourk, professor of economics at the Stuart School of Business, which is part of the Illinois Institute of Technology in Chicago, told Xinhua News Agency. Chinese youth now "represent 25 percent of the country's population but 60 percent of total spending growth". This is the first year ever when China prompted the development of the digital yuan, and "there has been a jump in sales among Chinese brand names, which shows the rise of high quality in Chinese manufacturing," Tourk said. "The Chinese middle-income group has experienced the fastest expansion the world has ever seen. Its size in 2020 was 400 million, and it is expected ... » Learn More about Economist: Nation key to global supply chain

China has withstood the test of the COVID-19 pandemic and the severe and complex dynamics both at home and abroad in the year 2020, Guo Weimin, spokesman of the fourth session of the 13th National Committee of the Chinese People's Political Consultative Conference, said during a news briefing on Wednesday. As China's economic development and its business climate have gained attention worldwide, Guo said that last year China's total economic capacity had topped 100 trillion yuan ($154.7 billion) and turned out to be the only major economy registering positive growth last year. He said that as uncertainties in the COVID-19 situation still remain and the world economic dynamic is still complex, arduous efforts are still needed for stable economic development this year. "We believe that under the strong leadership of the Communist Party of China Central Committee, China will overcome surmounting difficulties and reach remarkable achievement this year, while the year also marks the ... » Learn More about Nation withstands test of pandemic, economy registers positive, a CPPCC spokesman says

The rapid rebound of China's V-shaped economic recovery since the second half of 2020 and improvement in the business environment will continue to make the domestic market attractive for foreign investment, a policy adviser said. Jiang Ying, a member of the 13th National Committee of the Chinese People's Political Consultative Conference, spoke about economic and other issues she expects to see during the two sessions in March, the annual meetings of China's top legislature and top political advisory body. She said she expects a GDP growth rate for 2021 of about 7.5 percent and a double-digit rate in the first quarter. The global recovery is starting to speed up enough to boost China's exports in 2021. But investment, which recovered strongly last year, may not see a sustainable boom this year as the government may be reluctant to promote growth by raising the debt level, according to Jiang, who is also vice-chairwoman of Deloitte China, an international consulting company. ... » Learn More about Policy adviser: China to remain attractive to foreign investors

The Ministry of Commerce has come out with 22 measures to further expand high-level opening up and attract more resources, including technologies and talents from global markets, to reinforce China's strengths in attracting foreign direct investment. The ministry will implement a pre-establishment national treatment plus negative list management system regarding market access. The 2020 version of the new industry catalogue will also encourage foreign investment, promote the integration of attracting foreign capital, talents and technologies and compile the development plan for utilizing foreign investment during China's 14th Five-Year Plan (2021-25) period, a circular unveiled by the ministry on Monday said. The 22 measures have been put forward in five areas, including improving government services and building a better legal environment for overseas investors to plan work for stabilizing foreign investment this year. In addition to promoting the integration of international and ... » Learn More about Commerce Ministry releases 22 measures for FDI expansion

JINAN－Entrepreneur Yun Hwang-suk from South Korea has just injected $1.5 million of capital into his electronics company in East China's Shandong province. The new investment will be used for product research and development and the upgrade of the integrated inductor production line for the joint venture in the coastal city of Weihai. Yun's confidence in the business is well-founded. Despite the COVID-19 pandemic, the company's sales revenue increased by 100 million yuan (about $15.5 million) to 210 million yuan in 2020. He attributed the firm's success to local supportive policies and opportunities brought by the Chinese market, noting that supportive policies have covered almost every aspect of life, including housing, medical treatment and schooling of their children. "Weihai has opened its arms to foreign investors," said Yun. Despite the challenges brought by COVID-19 and the global economic recession, China became the world's top destination for new foreign direct ... » Learn More about For foreign investors, China proves safest bet

More American consumers have turned to plant-based meat substitutes since the pandemic, and now some of the biggest fast-food chains in the US – including McDonald's — will source the products with producers. The popular plant-based meat alternative company Beyond Meat signed a new partnership with McDonald's last week, a vital step in the growing shift to take meat alternatives into the dining mainstream in the country. The company will be the preferred supplier for a new plant-based burger dubbed the "McPlant"and work with McDonald's to develop new substitutes for pork, chicken and egg. It also signed a new contract with fast-food giant Yum Brands, which owns and operates brands like KFC, Pizza Hut and Taco Bell, to supply new plan-based protein items as substitute options. "We're excited about the long-term potential plant-based protein menu items have to attract more customers to our brands, especially younger consumers," Chris Turner, Yum Brands CFO said in a company ... » Learn More about Meatless products hit stride in pandemic

The United States would forgo $190 billion in its gross domestic product annually by 2025, or roughly 1 percent of its GDP at last year's level, if it were to fully decouple with China, a scenario that would force the US aviation industry alone to shed close to a quarter-million jobs, according to an analysis by the US Chamber of Commerce and Rhodium Group. The projections highlight the potential costs to the American economy at a time when the Biden administration is grappling with a pandemic-battered economy and weighing its policy agenda with China. "If the US and China were to fully decouple, American businesses and our economy would be significantly impacted, resulting in hundreds of billions in foregone GDP and capital gains losses while undermining US productivity and innovation," the US Chamber tweeted on Thursday about the report released Wednesday. The first-of-its-kind study, "Understanding US-China Decoupling: Macro Trends and Industry Impacts", seeks to better ... » Learn More about Analysis: Decoupling could trim 1% off US GDP

The claims by Grey Zone, an independent news website in the US, that "the Chinese government is committing genocide against ethnic minorities in the Xinjiang Uygur Autonomous Region" are an outright lie, the Chinese Foreign Ministry said on Monday. These reports also show that facts speak louder than words and justice is essentially in the eye of the beholder. The reports released by the Grey Zone pointed out the misuse of data, misrepresentation of facts, fabrication of cases and logical inconsistencies in the so-called investigation report, revealing the true nature of the report's author, Adrian Zenz (who calls himself Zheng Guo'en in Chinese), said Wang Wenbin, spokesperson for China's Foreign Ministry, at the press conference. "Zenz and some international anti-China forces have concocted rumors and lies about Xinjiang for their personally driven ulterior motives,, using fake news to gain attention and sully China's reputation in the process," Wang said. However, no matter how ... » Learn More about Gray Zone’s reports of ethnic minorities in Xinjiang under threat of ‘genocide’ an outright lie: FM