China NPC & CPPCC Sessions 2014 Start Today; Automobile Manufacturers to Benefit from SOE Reform

SHANGHAI, Mar. 3 (SMM) –

China NPC & CPPCC Sessions 2014 Start Today

China NPC & CPPCC Sessions 2014 started today and will end on March 12. Around half of the proposals submitted by delegates are concerning the economy and how to carry on the reforms forward.

Automobile Manufacturers to Benefit from SOE Reform

Guangzhou Automobile Group’s General Manager Zeng Qinghong expressed at an industry seminar that China will need to expand share proportion of foreign investment in joint venture sooner than later, but domestic automobile manufacturers have yet to be prepared for the reform.

The Guidance on Deepening SOE Reform has been submitted, and will be released after the annual NPC and CPPCC sessions. Listed SOE automobile manufacturers are believed to benefit from this round of reform significantly. 

Xinjiang’s First Private Railway Authenticated

Towards the completion of the Hongliuhe-Naomaohu railway, the project’s major investor – Guanghui Energy Co. received its authentication from the National Development & Reform Commission (NDRC). The railway is the longest private railway in China, which is likely to set an example for more private investment in the railway sector.

Tesla to Build Super Battery Plant

Re/code reported Tesla Motors plans to issue $1.6 billion convertible bonds to build a super battery plant and to research into third-generation, low-cost electrocar. The super battery plant will reach full capacity by 2020, with lithium ion battery output higher than the global total in 2013.