BizChina

China's new-energy vehicle (NEV) market continued its strong momentum this year, with data released by the China Association of Automobile Manufacturers (CAAM) on Tuesday showing that NEV production and sales maintained robust growth from January to October. NEV sales in October surpassed 50 percent of all new car sales for the first time, a milestone in the sector's rapid expansion, China Media Group (CMG) reported.

Chinese carmakers produced 27.69 million vehicles and sold 27.68 million between January and October, both up more than 10 percent year-on-year. NEV output reached 13.02 million units, rising 33.1 percent, and sales hit 12.94 million, up 32.7 percent.

The curtain came down on the 8th China International Import Expo (CIIE) in Shanghai on Monday. As the first major economic and diplomatic event following the Fourth Plenary Session of the 20th Central Committee of the Communist Party of China, the fair recorded a new record high in intended transactions, underscoring the magnetic attraction of China's massive market.

Intended transactions stood at $83.49 billion on a one-year basis, up 4.4 percent from the previous edition and hitting a new record high, the Xinhua News Agency reported on Monday.

China's Ministry of Commerce on Saturday called on the Netherlands to put forward constructive plans and take concrete actions to restore the stability of the global semiconductor supply chain.

A spokesperson for the ministry made these remarks when asked to comment on the statement concerning the issue of the semiconductor manufacturer Nexperia, an overseas subsidiary of Chinese company Wingtech, released on Thursday by Vincent Karremans, Dutch minister of economic affairs.

ASML at 8th CIIE Shanghai China

Dutch chip manufacturing equipment provider ASML Holding NV is committed to serving the Chinese market within the boundaries of all applicable laws and regulations, a senior executive said, adding that artificial intelligence has become a key driver for increasing demand for chips across many industries.

"Like other major markets, China is crucial to ASML's global growth and long-term development," Shen Bo, executive vice-president of ASML and president of ASML China, said in an interview with China Daily. "According to our recent third-quarter finance results, we project that China will account for over 25 percent of ASML's total sales in 2025."