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QINGDAO TODAY
在线翻译:
szdaily -> Business -> 
At a Glance
    2019-07-18  08:53    Shenzhen Daily

Economic measures

PREMIER Li Keqiang said Tuesday China will make good use of counter-cyclical measures and fine-tune policy in a pre-emptive way at the appropriate time.

China would continue to implement prudent monetary policy and proactive fiscal policy, Li was quoted as saying at a meeting he chaired with economists and entrepreneurs.

No major exit

CHINA has not seen a large-scale exit in its manufacturing sector and is confident in attracting more foreign firms seeking long-term development, the country’s top economic planner said Tuesday.

“Most of those pulling out are mid to low-end firms and the impact on China’s economic growth, industry upgrading and employment is generally controllable,” Meng Wei, a spokesperson of the National Development and Reform Commission, said when answering a question on reported withdrawals. Citing in-depth changes to the global industrial landscape and the upgrading of China’s manufacturing industry, Meng said it was a normal phenomenon for some enterprises to set up factories abroad.

EV startup

CHINA’S electric vehicle (EV) startup Seres, formerly known as SF Motors, on Tuesday denied it has fired 90 employees at its Silicon Valley office, saying only 47 jobs were cut across the United States.

Seres CEO James Taylor told Xinhua that the job eliminations included 17 positions at the Silicon Valley office and about 30 at the company’s Mishawaka assembly plant in Indiana, which “represent the necessary adjustments to respond to our new business plan and evolving market conditions.” He said Seres has decided to delay the launch of the production version of the SF5 crossover in the U.S. market. The SF5 model was first unveiled in Silicon Valley in March 2018.

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