The National Development and Reform Commission (NDRC), which regulates new investments and production capacity in China's auto industry, gave the nod for EV manufacturing to Beijing-based Xiaomi earlier this month, said the people.
As confidence among consumers remains suppressed, Beijing is looking to ‘stabilise big-budget consumption’ of homes and cars. Analysts, however, question how effective the new measures will be if people cannot afford to spend.
China’s top economic planner on Wednesday endorsed projects by 10 leading internet giants, including Alibaba, Tencent and Meituan, ending a two-and-a-half-year investigation into platform companies.
Top state planner sets out proposal to stabilise and further increase foreign investment into China amid increasing concerns by overseas investors over the mounting challenges of operating in the world’s second-largest economy.