Volkswagen AG’s joint venture with China’s FAW Group cut prices for all its Audi models in China last week. Photo: Xinhua

Volkswagen latest to reduce prices in China ahead of VAT cut with sales at record low amid slowdown

  • Volkswagen AG’s joint venture with China’s FAW Group to lower guide prices for all models under the Volkswagen brand having already cut prices for all its Audi models
  • Chinese Premier Li Keqiang announced earlier this month that the value-added tax rate for manufacturers would be cut from 16 per cent to 13 per cent on April 1
Topic |   China economy

TOP PICKS

Volkswagen AG’s joint venture with China’s FAW Group cut prices for all its Audi models in China last week. Photo: Xinhua
READ FULL ARTICLE
The data tracks profits from firms that report more than 20 million yuan (US$2.98 million) in revenue from their main business, and it is divided into private and public sector companies. Photo: Reuters

China’s economic concerns mount as industrial profits crash to lowest since 2011

  • Industrial profits stood at 708 billion yuan (US$105.4 billion) for January and February, according to figures released by the National Bureau of Statistics
  • Manufacturing profits fell by 15.7 per cent year-on-year, with profits from oil processing companies collapsing 70.4 per cent
Topic |   China economy

TOP PICKS

The data tracks profits from firms that report more than 20 million yuan (US$2.98 million) in revenue from their main business, and it is divided into private and public sector companies. Photo: Reuters
READ FULL ARTICLE