Macro leverage ratio down to 272.5%

CHINA’S macro leverage ratio, which measures the economy’s overall indebtedness, has grown at a generally stable rate since 2017, the central bank said Tuesday.

The macro leverage ratio, a ratio of a country’s total debt to gross domestic product, rose at an average annual rate of 4.8 percentage points in the world’s second-largest economy over the past five years, said the People’s Bank of China in an online statement. “Compared with other major economies, the rise of China’s macro leverage ratio has been controllable since the COVID-19 outbreak, and a relatively small increase in debt has supported the country’s rapid economic recovery,” the statement said. China’s macro leverage ratio fell to 272.5 percent in 2021, down from 280.2 percent in 2020.

New energy vehicle sales soar in February

SALES of new energy vehicles (NEVs) in China surged in February, driving the country’s automotive market to accelerate its green transition, the China Passenger Car Association said Tuesday.

Last month, a total of 272,000 NEVs were sold in China, soaring 180.5 percent year on year. Chinese NEV manufacturers saw strong wholesale figures last month, with five recording wholesale figures above 10,000 units.

ZTE Corp.’s 2021 profit rises nearly 60%

ZTE Corp. said its net profit for 2021 rose nearly 60 percent, supported by higher contributions from its 5G wireless and servers business.

The Shenzhen-based company posted a net profit of 6.81 billion yuan (US$1.08 billion), compared with 4.26 billion yuan a year earlier, ZTE said late Tuesday. Analysts had expected ZTE to post a net profit of 7.06 billion yuan for 2021. Operating revenue rose nearly 13 percent year on year to 114.52 billion yuan. Profit after extraordinary items rose to 3.31 billion yuan from 1.04 billion yuan in 2020.

Anhui Ankai delivers natural gas buses to Mexico

ANHUI Ankai Automobile Co. delivered 800 passenger buses powered by natural gas to Mexico on Tuesday, marking China’s largest passenger bus export order to Mexico to date.

The eco-friendly buses will run on natural gas and be put into use in Mexico’s third-largest city of Monterrey. The vehicles are tailored to meet the local market demands in Monterrey, including its climate and traffic conditions.