BYD new-energy vehicle sales soar 276.4%

BYD Co., China’s leading new-energy vehicle (NEV) maker, saw surging NEV sales growth in September, company data showed.

Last month, the sales of NEVs, including purely electric vehicles and plug-in hybrid electric vehicles, surged 276.4 percent year on year to 70,022 units, Shenzhen-based BYD said. In September, the company’s sales of passenger vehicles rose 93.2 percent year on year to 79,037 units, it said.

AliExpress to offer logistics service in Spain

THE Chinese global online retail platform AliExpress, which is part of Chinese e-commerce giant Alibaba, will, from Nov. 11, offer Spanish sellers a logistics service that picks up orders in one day and delivers them within three days.

The door-to-door order collection and delivery are aimed at sellers in mainland Spain, Estela Ye, executive director of AliExpress in Spain, said Tuesday. With prices starting with three euros (US$3.48) per package, the service can be used for a single package or more without limit on the number of packages that can be collected, the company said.

Large internet firms post faster profit growth

CHINA’S large internet companies saw their profits expand at a faster pace in the first eight months of this year, data from the Ministry of Industry and Information Technology (MIIT) showed.

Profits of these companies surged 37.5 percent year on year to reach 103.3 billion yuan (US$15.93 billion) during the period, MIIT data showed. The growth rate was 9.5 percentage points higher than that in the first seven months. Meanwhile, revenue went up 25.4 percent from a year earlier to about 1.01 trillion yuan. Large internet firms refer to those that focus on internet and related services with an annual business revenue of at least 5 million yuan.

Many firms underinvesting in China: Carlyle CEO

MANY corporate and investment leaders are underexposed to the Chinese market, according to Carlyle Group Inc. chief executive officer Kewsong Lee.

Lee said Wednesday that while the region has always had “short-term bumps,” the conversation should be about the best way to invest in China and not whether to invest. “There’s more opportunity in that region of the world than not, especially since valuations have corrected a bit,” he said. “The mindset needs to be one of very long term, to be consistent and to be committed.”