BYD electric van enters Finnish market

ELECTRIC vans produced by China’s BYD are now meeting high demand on the market in Finland, reported Finnish business daily Kauppalehti on Tuesday.

The compact van BYD T3 cost just under 50,000 euros (US$46,250) and can travel up to 310 km on a single charge, the report said. Heidi Nieminen, sales director of Finnish car importer RSA Finland, told the business daily that the first batch of T3 vans is currently in Finland, and RSA Finland will start to sell them soon.

Market entities increase by 100M in decade

THE number of market entities increased by 100 million in China over the past 10 years thanks to the country’s improvements in intellectual property rights (IPR) protection and the business environment, said a new report.

The total number of China’s market entities of all types topped 150 million in 2021, with around 70% of them running actively, said the report released by the Office of the National Leading Group on the Fight against IPR Infringement and Counterfeiting. Private firms contributed to more than 55% of the country’s total tax revenues and over 60% of the total investments.

NetEase’s cloud music unit sues Tencent Music

NETEASE’S cloud music unit has sued Tencent Music Entertainment (TME), accusing it of unfair competition and plagiarizing its app design, the company said yesterday.

“We urge TME to immediately rectify its products and businesses and stop all behaviors of unfair competition,” NetEase Cloud Music said in a statement.

Nayuki said to buy bottled tea business

BUBBLE tea chain Nayuki is seeking to acquire bottled tea production lines for between 500 million yuan (US$76.9 million) and 1 billion yuan to expand its business in the field, Sina Finance reported Tuesday.

The Shenzhen-based firm is considering to acquire eight to 12 production lines with annual capacity of 70 million to 80 million crates, the report said. The facilities also need to meet the requirements for cold aseptic filling and have a high degree of automation, it added. Nayuki, also known as Naixue’s Tea, is keen on developing the bottled beverage business, a public relations manager at the company said yesterday, but declined to comment on the news report.