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China is world’s largest auto market

The China Association of Automobile Manufacturers said more than 13.64 million units were sold last year, marking an increase of 46.15 percent from the 9.4 million units sold in 2008, Xinhua news agency reported.

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China’s auto sales surged past those in the United States in 2009 to make the Asian nation the world’s biggest car market, industry data showed Monday, but analysts warned sales would slow this year.The China Association of Automobile Manufacturers said more than 13.64 million units were sold last year, marking an increase of 46.15 percent from the 9.4 million units sold in 2008, Xinhua news agency reported.

Auto output for 2009 increased 48.3 percent to 13.79 million units, Xinhua said. Calls to CAAM to confirm the figures went unanswered.

In the US, auto sales fell 21.2 percent to 10.43 million vehicles in 2009, according to Autodata figures released last week.

Analysts welcomed the news, but warned that China car sales could hit the brakes this year.

“We are still optimistic about the outlook for this year but it will be quite difficult to achieve the growth rates of 2009,” John Zeng, a Shanghai-based analyst at IHS Global Insight, told AFP.

via China is world’s largest auto market.

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China

Hong Kong’s US-Bound Exports to be Labeled ‘Made in China’

Goods produced in Hong Kong and exported to the US must be “marked to indicate that their origin is China”, according to a notice put out by US Customs and Border Protection (CBP) on August 11, 2020.

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This ‘Made in China’ labeling requirement on Hong Kong products was originally to take effect on September 25. To give Hong Kong exporters more breathing room to switch the labels, the US CBP has extended the enforcement date by 45 days, to November 9.

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Asean

Global value chains: risk mitigation to reduce dependence on China

Risk mitigation will lead to reduced dependence on China in global value chains, and diversification will benefit ASEAN, but localisation of production will have negative effects for ASEAN producers

Boris Sullivan

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Risk mitigation will lead to reduced dependence on China in global value chains, and diversification will benefit ASEAN, but localisation of production will have negative effects for ASEAN producers
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China

Hong Kong : no journalist in the world is free from China’s violent retribution

The new national security legislation China is imposing on Hong Kong could be used not only against journalists operating in Asia’s main financial hub, but against every journalist in the world says RSF

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Reporters Without Borders (RSF) urges democracies to do everything in their power to compel Beijing to withdraw the law that allows it to charge any journalist writing on Hong Kong of endangering national security, an accusation that could result in life imprisonment or even the death penalty if tried in China.

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