On November 5, China COSCO Shipping Corporation and China FAW Group signed a strategic cooperation framework agreement in Shanghai. According to the agreement, both sides will jointly promote green, low-carbon and intelligent development.
China is the world's second largest auto exporter now. In 2021, China exported 2.138 million units, a year-on-year increase of 102%; In the January-September period of 2022, 1.91 million units were exported, up 44 percent year on year, among which 306,000 units were exported in September.
On October 9th, China COSCO Shipping Corporation announced that it plans to transfer 5.00% of the shares held by COSCO Shipping Holding to SAIC Motor by means of free transfer. At the same time, SAIC Motor plans to transfer its 5.82% stake in SAIC Motor to COSCO Shipping.
Realated:
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