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On July 26, Guangzhou Automobile Group spent HKD 34.9963 million to repurchase 12.024 million shares.
Guangzhou Automobile Group (02238.HK) announced that on July 26, 2024, it will repurchase 12.024 million shares for HKD 34.9963 million, at a repurchase price of HKD 2.88-2.94 per share.
Express News | The Passenger Car Association predicts that narrow-definition passenger car retail sales in July will be around 1.73 million, with a year-on-year and month-on-month decrease of about 2%.
Express News | GAC Aion is expected to complete construction and begin production at its Indonesian factory by the end of this year.
Express News | GAC Aion: The first 500 AION Y Plus vehicles were launched in Indonesia.
Cui Dongshu: In the first half of the year, imports of autos decreased by 4% year-on-year to 0.332 million units.
Cui Dongshu, Secretary-General of the China Association of Automobile Manufacturers, stated that the import volume of cars to China has continued to decrease at an average annual rate of about 8% since 2017, with only 0.8 million units expected to be imported by 2023.
China: Consumer goods in the Mainland could lead to GDP growth by 0.3 percentage points, or increase household appliance sales by 15%
China's Ministry of Finance issued a notice on “Certain Measures to Support Large-Scale Equipment Upgrades and Replacement of Consumer Goods” by the National Development Reform Commission and the Ministry of Finance. Proposed the coordination of around RMB 300 billion (below) in ultra-long term special government debt financing, and strongly supported large-scale equipment upgrades and the replacement of old consumer goods. This indicates a further decline in positive fiscal policy, which the Bank expects could drag down GDP growth by around 0.3 percentage points.