A recent report revealed that domestic automakers in China are losing market share to foreign automakers at a steady rate that appears set to continue as multinational corporations set up manufacturing plants in China. With an increasing number of China's citizens gaining wealth, new car sales are soaring, and more affluent consumers are choosing global brands which are seen as being safer, more reliable and more luxurious than locally produced vehicles. Moreover, restrictions on the number of license plates issued each year in Shanghai, Beijing and Guangzhou has made choosing a car an important decision, and buyers appear to be prepared to spend more on a car when they receive their much sought-after, and often long-awaited, license plates.
Ford Motor set up a joint venture in Chongqing more than two years ago, and through expanding output and introducing new models, the company exceeded sales of 100,000 cars and light trucks in March, and revealed plans to double production in the coming year. China's automakers are mostly state-owned and are reportedly pressuring the country's Ministry of Commerce to extend the requirement that foreign automakers must have 50-50 joint ventures with domestic partners to assemble cars in China. Of its own volition, the Commerce Ministry had reportedly considered dropping this requirement in anticipation of China exporting large numbers of cars to industrialized nations, thereby circumventing protectionism issues. But, the state-owned automakers are more focused on capturing local market share, than exporting at this stage.
For decades the prices for automotive replacement parts have been an issue in the United States, as many brand name parts have no generic equivalents. The same problems apply to China. Moreover, car prices in China are generally higher than elsewhere, even before adding the 17% value-added tax and 25% import tax, as well as consumption tax which is based on engine displacement and can be as high as 40% of the sales price. Despite these price variances foreign cars continue to garner increased market share in China.
Bidness EtcWhy China Finance Online (JRJC) Stock Hit a One-Year High TodayTheStreet.com"We rate CHINA FINANCE ONLINE CO -ADR (JRJC) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative ...Why China Finance Rose TodayBidness EtcChina Finance Online: Shares Soar On Over-Hyped Deal, More Questions Than ...Seeking Alpha (registration)Traders Purchase Large Volume of Put Options on China Finance Online (JRJC)Intercoolersleekmoney -Techsonian (press release)all 25 news articles »
Why China Finance Online (JRJC) Stock Is Surging TodayTheStreet.com"We rate CHINA FINANCE ONLINE CO -ADR (JRJC) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative ...
Sector Update: Robust Gains for Financial Shares Today; China Finance Online ...NASDAQIn company news, China Finance Online Co. Ltd. ( JRJC ) enjoyed a big boost today, with American depository shares of the financial services company rising as much as 27% after it today launched Securities Master, China's first web-based trading platform.China Finance Online Launches China's First Integrated, Web-Based Securities ...MarketWatchChina Finance Online (JRJC) Launches Web-Based Trading PlatformStreetInsider.com (subscription)all 11 news articles »
Trade-Ideas: China Finance Online (JRJC) Is Today's Pre-Market Mover With ...TheStreet.comThe average volume for China Finance Online has been 483,800 shares per day over the past 30 days. China Finance Online has a market cap of $98.9 million and is part of the technology sector and internet industry. Shares are down 29.2% year-to-date as ...and more »
Wall Street Journal (blog)S.Korea, China upgrade partnership on trade, finance, culture: think tankCCTVAfter Chinese President Xi Jinping visited Seoul in July, the neighbors strengthened their strategic cooperative partnership, upgrading the quality of bilateral economic cooperation and widening communication channels both politically and ...China taps South Korea for ideas in Qualcomm antitrust caseYahoo Finance UKSouth Korea's Exports to China: Game Over?Wall Street Journal (blog)all 43 news articles »
China Finance OnlineInvestor's Business DailyChina Finance Online (NASDAQ:JRJC) announced the debut of China's 1st independent Web-based securities trading platform, Zhengquantong, which means Securities Master. Shares rocketed 75.7% to 7.82.
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As the last stop on his four-country Latin American tour, Chinese President Xi Jinping met with Cuban President Raúl Castro to discuss, among other things, increasing bilateral trade and investment. President Xi was greeted with military honors at Cuba's Palace of the Revolution, the venue for talks between the two leaders. As the only single-party communist state in the Americas, Cuba started opening up its economy in 2008 with limited success, but observers note that Cuba appears to be following in China's footsteps with regard to economic and trade reforms, which lays a foundation for increased cooperation between the two countries.
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