logo
China's Tianjin to issue additional 80,000 car licence quotas annually

China's Tianjin to issue additional 80,000 car licence quotas annually

Reuters22-05-2025

BEIJING, May 22 (Reuters) - The northern Chinese city of Tianjin announced on Thursday that it would issue additional 80,000 car licence quotas annually.
The new policy, effective from June 1 through the end of 2029, would bring the municipality's annual car licence quota to 180,000.
Tianjin is one of a few cities in China where curbs are being imposed on car purchases that are intended to ease urban traffic congestion and improve air quality.
Last week, Beijing said it will issue an additional 20,000 vehicle licence quotas for electric and plug-in hybrid cars for households without a car in 2025, taking the Chinese capital's annual car licence quota to 160,000.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Moelis CEO-designate joins Wall Street in signaling dealmaking rebound after tariff pause
Moelis CEO-designate joins Wall Street in signaling dealmaking rebound after tariff pause

Reuters

time24 minutes ago

  • Reuters

Moelis CEO-designate joins Wall Street in signaling dealmaking rebound after tariff pause

June 10 (Reuters) - Moelis' (MC.N), opens new tab incoming CEO Navid Mahmoodzadegan told investors on Tuesday that he is optimistic about the dealmaking environment, as confidence returns following a pause in April triggered by U.S. tariff threats. "I'm optimistic. It definitely feels better and better each day ... The announcement in April, I think set us back a little bit in terms of the M&A environment," he said at the Morgan Stanley U.S. Financials Conference. Investor sentiment soured and stock markets slid after U.S. President Donald Trump's "Liberation Day" tariff threats, stalling risk appetite and slowing deal activity. Appetite for deals has since returned, with market participants and bankers once again seeing an opening for initial public offerings and signs of a pickup in M&A activity. "Everywhere I go, people want to transact. They want to lean into transactions, whether it's companies or private equity firms or capital providers," Mahmoodzadegan said. "We're seeing our clients push us to launch transactions, even if the environment isn't crystal clear." Earlier this week, Moelis said Ken Moelis would step down as CEO of the investment bank and hand the reins to Mahmoodzadegan, its co-founder and co-president. The succession marks a major step for the bank, which has been led solely by Ken Moelis since its founding in 2007. While succession at companies closely tied to founding CEOs can be challenging due to their outsized personal influence, Mahmoodzadegan said it was part of the "natural evolution of the firm." "I think Ken felt that even though he's fully active and will continue to be fully active with clients going forward ... this was a great opportunity at a great time to give more responsibility, not just to me, but to the next generation of bankers," Mahmoodzadegan added. The bank's deal pipeline currently is up from April and is as high as "it's ever been at the firm, or close to it," the CEO-designate said. The comments echo Morgan Stanley (MS.N), opens new tab CEO Ted Pick's expectation of a strong end of the quarter for the bank as dealmaking and the calendar for equity capital markets are picking up. Last week, top executives at the New York Stock Exchange (ICE.N), opens new tab and Nasdaq (NDAQ.O), opens new tab also said the IPO market is gaining momentum despite the Trump administration's rapidly shifting tariff policy, adding to the industry's optimism about a meaningful recovery.

Buy GMC Sierra EV Price, PPC or HP
Buy GMC Sierra EV Price, PPC or HP

Top Gear

timean hour ago

  • Top Gear

Buy GMC Sierra EV Price, PPC or HP

The more upscale Denali is priced at $69k and includes more features like four-wheel steering, 22-to-24in wheels and larger battery options. The Denali is also setup with an adjustable air suspension like its fancy Cadillac cousin, the Escalade IQ. There are now three Sierra EV models to choose from. The Elevation trim is the low-end version with the minimum capabilities in terms of power, range and towing capacity. This one starts at $62,000 with the standard battery pack, 18-inch wheels and no rear-wheel steering. Lastly, the AT4 is the more rugged version with the coil suspension and size 18 wheels like the Elevation, but it has rear-wheel steering and larger battery options, plus trim-exclusive drive modes. Which one should I get? Boils down to what mood you're in. On one hand, the Denali is compelling as an all-rounder. With its large wheels, air suspension and luxury-leaning options, it's the most comfortable version. Sure the AT4 is slightly more hardcore, but while the Denali is less capable, it is still able to truck stuff. The AT4 on the other hand is built for a wider scope of use, and we'd trust the old-fashioned coil suspension over the air bags when it came to off-road use. Alternatives? In this segment, the Rivian R1T is a compelling electric pickup, particularly the dual motor version that starts at about $78,000. Though fun and capable, the boutique nature of the brand means capability comes at a cost. How rugged you want to be comes down to how precious you regard it. Ford's F-150 Lightning has a number of models to choose from and has the F-150 level of versatility millions of drivers swear by. It doesn't do cool things like 'crustacean strut' but it's useful in other ways. It's also priced competitively as well, with only its $85,000 Platinum model exceeding the Sierra's starting costs.

Lutnick says US-China talks going well, could run into Wednesday
Lutnick says US-China talks going well, could run into Wednesday

Reuters

timean hour ago

  • Reuters

Lutnick says US-China talks going well, could run into Wednesday

LONDON, June 10 (Reuters) - U.S. Commerce Secretary Howard Lutnick said trade talks with Chinese officials were going well and he hoped they would end on Tuesday night, but said they could run into Wednesday. "I think the talks are going really, really well. We're very much spending time and effort and energy - everybody's got their head down working closely," Lutnick told reporters at Lancaster House in London, where teams from both countries have met for two days. "I hope they end this evening, but if they need be, we'll be here tomorrow, but I hope they end this evening," he added.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store