Briefly
Law on futures and derivatives adopted
Chinese lawmakers on Wednesday voted to adopt a law on futures and derivatives to better protect investors' interests and develop the futures market in favor of the real economy. The law, to take effect on Aug 1, was approved at a session of the Standing Committee of the National People's Congress, China's top legislature. China's futures market posted record-setting trading volume and turnover in 2021, which stood at 581.2 trillion yuan ($90.8 trillion) and over 7.5 billion lots, respectively, data from the China Futures Association showed.
Chongqing's foreign trade up in Q1
Southwest China's Chongqing Municipality saw its foreign trade exceed 197 billion yuan ($30.7 billion) in the first quarter of 2022, an increase of 9.3 percent year-on-year, the city's Customs authorities said on Wednesday. Of the total, exports rose 14 percent year-on-year to 127.7 billion yuan, while imports gained 1.6 percent to nearly 69.4 billion yuan. The import and export of foreign-invested enterprises remained vigorous. In the first quarter, the import and export of foreign-invested enterprises in Chongqing reached 98.9 billion yuan, up 12 percent year-on-year. The import and export of private enterprises reached 80.3 billion yuan, up 7 percent year-on-year, and that of State-owned enterprises reached 17.7 billion yuan, up 5.4 percent.
Automaker posts strong NEV sales
SAIC-GM-Wuling, based in Liuzhou, Guangxi Zhuang autonomous region, reported strong new energy vehicle sales in the first quarter, said the company. SGMW, a joint venture between SAIC, General Motors and Liuzhou Wuling Motors, registered NEV sales of 117,210 units in the January-March period, up 16 percent year-on-year. SGMW now produces NEV models including the Hongguang MINI EV, the Baojun KiWi EV and the Wuling Nano EV. The Hongguang MINI EV achieved robust sales of 106,721 units during the period, up 9.4 percent year-on-year. Monthly sales of the Baojun KiWi EV hit a record in March, reaching 3,385 units.
Xinhua
