MNI China Daily Summary: Wednesday, March 12

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GERMANY: Union/SPD Migration Alignment After Turmoil Threatened Debt Deal (BILD)

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

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MNI China Press Digest March 12: FDI, Cars, Retail Sales

MNI picks keys stories from today's China press
Central Bank NewsPolicy NewsPBOCHomepageAPACChinaEM Policy NewsChinaEM Central Bank NewsPeoples Bank of ChinaPolicy StoryStoryRegion
MNI (BEIJING)

Highlights from Chinese press reports on Wednesday:

  • China’s domestic firms’ competitiveness has contributed to declining foreign direct investment, according to Yang Liu, member of the Chinese People's Political Consultative Conference. The country's decreasing need for large-scale infrastructure investment in future could mean foreign firms entering the market without causing a strong increase in FDI, Yang noted. Officials are focused on promoting service industry opening, including telecommunications, medical care and entertainment sectors, continued Yang, who is also director at the Tianjin Investment Promotion Bureau.
  • China’s car sales and production reached 2.12 and 2.10 million in February, up 34.4% and 39.6% y/y, data from the China Association of Automobile Manufacturers showed. Sales of new energy vehicles reached 892,000, with production at 888,000, up 91.5% and 87.1% y/y. Market vitality has improved as tech upgrades and product renewals stimulated demand, the association said.
  • China's retail sales of refrigerators and other household appliances rose 56.1% y/y between October and February, with furniture and TV and other audio-visual equipment up 28.5% and 23.3%, amid government purchase subsidies, China Securities Journal reported citing VAT invoice data released by the State Administration of Taxation (SAT). Nationwide corporate sales revenue between October to February increased by 1.1 percentage points versus Q3 2024, indicating a continuous economic rebound, the SAT said.
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MNI (BEIJING)

Highlights from Chinese press reports on Wednesday:

  • China’s domestic firms’ competitiveness has contributed to declining foreign direct investment, according to Yang Liu, member of the Chinese People's Political Consultative Conference. The country's decreasing need for large-scale infrastructure investment in future could mean foreign firms entering the market without causing a strong increase in FDI, Yang noted. Officials are focused on promoting service industry opening, including telecommunications, medical care and entertainment sectors, continued Yang, who is also director at the Tianjin Investment Promotion Bureau.
  • China’s car sales and production reached 2.12 and 2.10 million in February, up 34.4% and 39.6% y/y, data from the China Association of Automobile Manufacturers showed. Sales of new energy vehicles reached 892,000, with production at 888,000, up 91.5% and 87.1% y/y. Market vitality has improved as tech upgrades and product renewals stimulated demand, the association said.
  • China's retail sales of refrigerators and other household appliances rose 56.1% y/y between October and February, with furniture and TV and other audio-visual equipment up 28.5% and 23.3%, amid government purchase subsidies, China Securities Journal reported citing VAT invoice data released by the State Administration of Taxation (SAT). Nationwide corporate sales revenue between October to February increased by 1.1 percentage points versus Q3 2024, indicating a continuous economic rebound, the SAT said.