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Ministry spokesman Gao Feng said the Chinese government had already decided to open the new energy vehicle manufacturing business to global companies since the country expanded foreign companies" investment options in June.
2017-09-22 14:32chinadaily.com.cnEditor: Wang ZihaoECNS App DownloadWith more than 50 brands competing in the Russian market, Chinese brands control over 25 percent of the total smartphone market while share of Russian manufacturers dropped to single digits in Q2, according to a report by consultancy Counterpoint Research.
"The downgrade is a result of the international rating agencies" long-standing mode of thinking, and misreading of the Chinese economy based on developed countries" experiences," it said.
As New York remains on track to knock Hong Kong off its pedestal to become the world"s biggest listing venue this year, the Asian financial hub is wrestling with Shanghai for the second place in the league tables.
New energy vehicle sales amounted to 320,000 vehicles, jumping 30.2 percent year-on-year between January and August in 2017. This accounted for 1.8 percent of the country"s entire 17.51 million automobile sales, according to data issued on Sept 12 by the China Association of Automobile Manufacturers.
More companies bet on high valuations in mainland, instead of going overseas
While Samsung Electronics continued to be the market bellwether in the Q2 2017, Chinese smartphone vendors Xiaomi and Huawei became the fastest growing brands in the same period, according to the report.
Calling it "cliche," the MOF said it was a pity for S&P to focus on China"s fast credit growth and debt issues, but ignore the country"s distinctive financing structure, the wealth-creating effect of the government"s spending and its support for growth, as well as the sound development fundamentals and growth potential.