China Yuchai International Announces Unaudited Results of the Second Half Year and the Full Year Ended December 31, 2020
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( China Yuchai or the Company ), a leading manufacturer and distributor of engines for on- and off-road applications in China through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited
( GYMCL ), announced today its unaudited consolidated financial results for the second half year
( 2H 2020 ) and the fiscal year
( FY 2020 ) ended December 31, 2020. The financial information presented herein for the second half year and fiscal year of 2020 and the second half year
( 2H 2019 ) and fiscal year
( FY 2019 ) ended December 31, 2019 is reported using the International Financial Reporting Standards
According to the data from China Association of Automobile Manufacturers, the production and sales of new energy vehicles in January stood at 194,000 units and 179,000 units, which were 17.8% and 27.8% lower from December last year, but increased over 2.5 times compared with the same period of last year, up 285.8% and 238.5% respectively.
By Addison Gong
19 Feb 2021
In this round-up, consumer inflation in China disappoints in January, lenders extend a record amount of new renminbi loans last month, and the banking and insurance regulator asks financial institutions to step up their reputational risk management.
China’s Consumer Price Index (CPI) declined 0.3% year-on-year in January, while the Producer Price Index (PPI) rose 0.3%.
The dip in consumer inflation was mainly due to a high base of comparison, as the Chinese New Year fell in January last year but in February this year, according to the National Bureau of Statistics.
The weaker-than-expected CPI inflation in January does not suggest any disinflation risks, and Beijing is expected to maintain its policy stance, wrote economists at Nomura in a note last week. They expect CPI inflation to remain stable in February at around negative 0.3%, and the PPI inflation to rise to slightly above 1%. Ho Woei Chen, an economist at UOB, expects CPI to rise more str
The severe weather gripping the US state of Texas will worsen a global shortage of chips, after power outages forced several semiconductor manufacturing plants in the city of Austin to shut down.
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Although expectations for an increase in rubber prices remain low, the recent spikes have left rubber growers in Vietnam less worried. Nevertheless, to cash in on the recovering carmakers and other industries after the pandemic, as well as compete with regional rivals, local latex gatherers may need to step up their game and apply for official certificates.
Latex extraction has seen labour shortages due to the pandemic, natural disasters, and other events
More than an hourâs drive from Pleiku, the capital of the Central Highlands province of Gia Lai, small roads are running through immense rubber forests. The town of Ia Kha is crowded with more than 8,000 people, but unlike in the past, these people are less occupied with farming than before.