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MNI China Daily Summary: Thursday, September 5

MNI (BEIJING) - EXCLUSIVE: China’s electric vehicle sales will account for above 50% market share going forwards following July’s purchases surpassing internal combustion engine (ICE) cars for the first time on record, a leading Chinese car industry expert told MNI.

POLICY: The People’s Bank of China (PBOC) will increase countercyclical adjustments with room to lower the reserve requirement ratio, though further interest-rate cuts will prove difficult, Zou Lan, head of the Monetary Policy Department at the PBOC, told reporters.

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MNI (BEIJING) - EXCLUSIVE: China’s electric vehicle sales will account for above 50% market share going forwards following July’s purchases surpassing internal combustion engine (ICE) cars for the first time on record, a leading Chinese car industry expert told MNI.

POLICY: The People’s Bank of China (PBOC) will increase countercyclical adjustments with room to lower the reserve requirement ratio, though further interest-rate cuts will prove difficult, Zou Lan, head of the Monetary Policy Department at the PBOC, told reporters.

Keep reading...Show less