Changan Auto business carved out from key PLA supplier
KENJI KAWASE
TOKYO -- Chinese authorities have approved a carve-out of the automobile business of China South Industries Group, a core state-owned equipment supplier to the People's Liberation Army.
An announcement posted Wednesday on the website of the State-owned Assets Supervision and Administration Commission said a ceremony to mark the establishment of the spun-off China Changan Automobile Group was held in the inland city of Chongqing the previous day.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Nikkei Asia
an hour ago
- Nikkei Asia
China's streaming companies gain on Netflix in Southeast Asia
Chinese streaming platform iQiyi is rushing to introduce original content in Southeast Asia. (Photo by Kenya Akama) KENYA AKAMA and TOMOKO WAKASUGI August 16, 2025 14:12 JST BANGKOK/SHANGHAI -- Chinese streaming services are catching American rivals in the Southeast Asian market, with giants iQiyi and Tencent planning to roll out original productions in Thailand and elsewhere.
Nikkei Asia
2 hours ago
- Nikkei Asia
Trump says no imminent plans to penalize China for buying Russian oil
A vessel owned by Russia's leading tanker group, Sovcomflot, transits through Turkey in April 2024. China and India are the top two buyers of Russian oil. © Reuters August 16, 2025 13:37 JST WASHINGTON (Reuters) -- U.S. President Donald Trump said on Friday he did not immediately need to consider retaliatory tariffs on countries such as China for buying Russian oil but might have to "in two or three weeks." Trump has threatened sanctions on Moscow and secondary sanctions on countries that buy its oil if no moves are made to end the war in Ukraine. China and India are the top two buyers of Russian oil. The president last week imposed an additional 25% tariff on Indian goods, citing its continued imports of Russian oil. However, Trump has not taken similar action against China. He was asked by Fox News' Sean Hannity if he was now considering such action against Beijing after he and Russian President Vladimir Putin failed to produce an agreement to resolve or pause Moscow's war in Ukraine. "Well, because of what happened today, I think I don't have to think about that," Trump said after his summit with Putin in Alaska. "Now, I may have to think about it in two weeks or three weeks or something, but we don't have to think about that right now. I think, you know, the meeting went very well." Chinese President Xi Jinping's slowing economy will suffer if Trump follows through on a promise to ramp up Russia-related sanctions and tariffs. Xi and Trump are working on a trade deal that could lower tensions -- and import taxes -- between the world's two biggest economies. But China could be the biggest remaining target, outside of Russia, if Trump ramps up punitive measures.
Nikkei Asia
9 hours ago
- Nikkei Asia
Chip tools maker Applied Materials hits China rough patch
Applied Materials forecasts a drop in revenue this quarter, citing uncertainty in its China operations. (Photo by Kosuke Shimizu) KOSUKE SHIMIZU August 16, 2025 06:52 JST PALO ALTO, California -- Applied Materials, the top U.S. supplier of chipmaking tools, is under pressure in the crucial Chinese market as Washington's export restrictions hurt its access and spur the rise of homegrown players.
