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Xpeng’s US$1.98 billion credit line from state-owned banks suggests China is throwing weight behind leading electric vehicle firms Daniel Ren ren.wei@scmp.com © SCMP An Xpeng factory in Guangdong province. The credit line suggests China is ramping up support for leading EV players. Photo: Iris Ouyang Guangdong-based Xpeng Motors has been granted a 12.8 billion yuan (US$1.98 billion) credit line by Chinese state-owned banks. The company, one of three Chinese electric vehicle (EV) start-ups viewed as potential rivals to Tesla, said that it had secured credit from five lende...

China’s second-half car sales defy global slump with 8 per cent gain, as buyers return to showrooms in world’s largest vehicle market Daniel Ren in Shanghai ren.wei@scmp.com © SCMP Customers thronged a Tesla showroom on Shibo Avenue in Shanghai's Pudong district to check out the locally assembled Model Y on january 3, 2021. Photo: Daniel Ren China's car sales increased during the six months ended in December, as customers returned to showrooms amid a tentative recovery in consumer sentiment in the first major economy to emerge from the coronavirus lockdown. Sales of pas...

Futu Holdings plans to use Singapore as a foothold to expand in Southeast Asia, says founder Leaf Li Hua, who wants to replicate Charles Schwab’s success.

Posted : 2020-12-22 15:40 Updated : 2020-12-22 17:12 US-China trade frictions and lingering Covid-19 fallout put sentiment in check in an otherwise bullish quarter for global stock market. South China Morning Post By Iris Ouyang Hong Kong stocks fell by the most in two weeks as frictions between the US and China escalated with more Chinese companies put on a trade blacklist and the coronavirus pandemic worsened in Europe. The Hang Seng Index slipped 0.7 per cent to 26,306.68, trimming the advance this quarter to 12.1 per cent. Benchmarks in the UK fell by more than 1 per cent while stocks i...