Drone Wars: Shenzhen-based drone maker DJI plans to start building drones at a factory in California amid security concerns raised by some US lawmakers. Read more.
Competitive Cities:Shenzhen was the most economically competitive city in China in 2018 for a fifth consecutive year but Hong Kong leads the pack in living environment, business environment and development sustainability, according to an annual ranking by Beijing-based National Academy of Economic Strategy. Read more.
New Flights: RwandAir launched thrice a week direct flights between Mumbai, India and Guanghzou, reducing the travel time between the two cities to six and a half hours. Africa-based RwandAir is the only foreign carrier operating in India using a special “fifth freedom rights” to go beyond to China. Read more.
HK Trade: According to Hong Kong’s Census and Statistics Department, in May, the value of total exports of goods decreased by 2.4% over a year earlier to HK$343.1 billion. Concurrently, the value of imports of goods decreased by 4.3% over a year earlier to HK$377.8 billion in May 2019. A visible trade deficit of HK$34.7 billion, equivalent to 9.2% of the value of imports of goods, was recorded in May 2019. Read more.
Car Quotas:Since the government added 100,000 quotas for car licenses to the market, the lowest auction price of Guangzhou’s license plate in June was RMB14,100, RMB25,900 less than the RMB40,000 recorded in May. Read more.
5G Handsets:China Mobile released 42 commercial 5G “terminal devices” jointly with 31 partners, which are expected to be released to the market at the end of July. Read more.
Huizhou Picks Up:Huizhou’s private enterprises boosted their share of foreign trade in the first five months, with RMB15 billion in total value, up 38.7% year-on-year, accounting for 13.1% of the city’s total. Read more.
ZTE Patents:ZTE ranks third in the world in terms of the number of essential 5G patents it has obtained. The company has already signed 25 commercial contracts internationally with companies in Europe, Asia-Pacific Area, and Middle East, cooperating with more than 60 foreign telecom operators to offer 5G services. Read more.