Underlining how brutal the competition in EV would be, Lei Jun expected the world’s top five brands will hold more than 80% of the market share if the sector is developed into a mature one.
HKEX plans to lower the minimum revenue requirement for high tech companies to HK$250 million in the most recent fiscal year from HK$500 million previously.
Given most companies listed in Hong Kong are from mainland China, the FRC has prioritized further establishing regulatory cooperation with the mainland.
Ensuring that stock market financing is not invested in property developing business, the CSRC allows companies with real estate business as their minor business segment to raise funds in the A-share market.
In early August, CATL was said to decide to hold off announcements about building battery plants in North America, concerning the move could trigger more tensions following the U.S. House Speaker Nancy Pelosi's trip to Taiwan.
China'e economy growth in the third quarter accelerated from the second quarter.
Stocks of Chinese firms, either at home or abroad, suffered brutal selloff Monday. The Nasdaq Golden Dragon China Index recorded its biggest daily decline of 14.4%, erasing about US$93 billion in market value.
Against the backdrop of continued pressure on the exchange rate of the RMB against the USD, the central bank and the SAFE decided to raise the macroprudential adjustment parameter for cross-border financing of companies to 1.25.
China is actively luring foreign investments into high-end equipment, essential components, and critical parts in advanced manufacturing and high technology.
Tesla's move could lead to a wave of price cuts in China as major automakers like BYD and Geely as well as emerging EV startups such as NIO and Xpeng may follow suit.
