Chinese smartphone maker Huawei has denied that the company is planning to design an original electric vehicle (EV) or produce its own branded car, refuting a Reuters report which cited people claiming knowledge on the matter.
The race to become the leader of clean energy vehicles in the world’s largest auto market is on, with more and more tie-ups established between China’s tech giants and traditional automakers.
For a number of China’s export-dependent manufacturers, the pandemic was a big blow as some Chinese companies saw their export orders had decreased greatly.
US President Donald Trump signaled that he may take action against more Chinese companies, including e-commerce giant Alibaba, after ordering ByteDance to sell its US assets within 90 days.
In a first, China has surpassed the US in having the most Fortune Global 500 companies.
More than 300 companies have applied for loans from local banks in Beijing in recent days, totaling at least 57.4 billion yuan.
Fortune Magazine published on July 19 its annual global list of 500 corporations. This year, 120 Chinese companies made the cut, which makes China a close second to the U.S. with 126 companies.