About 460,000 companies closed in the first quarter.March passenger car sales fell 40.8 percent from a year earlier to 1.08 million units.Travel bookings for the three-day weekend at the beginning of April were up 50 percent over the previous weekend.
A Luckin Coffee store in SuzhouCredit: Shwangtianyuan, CC BY-SA 4.0
Quote of the Week
The uncertainties and challenges of China’s foreign trade have increased significantly. A great many companies face cancellations of existing orders or delays, and most of their active orders are short-term, with few long-term ones. Ren Hongbin, assistant minister of commerce. From South China Morning Post
Numbers Games
Accounting scandals at two major companies and short-seller allegations aimed at another firm have again raised questions about the integrity of Chinese corporate reporting. The new book-cooking could discourage overseas investors from participating in future IPOs, Bloomberg News
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