Auto exports
China exported 930,000 vehicles in May, a 68.7% year-on-year increase, continuing a rapid growth trend. New-energy vehicle (NEV) exports surged 110% to 446,000 units. In the first five months of the year, auto exports totaled more than 4 million units, with NEVs accounting for more than 45%.
Optoelectronic chips
China’s IT ministry issued a notice calling for efforts to strengthen the research and development of high-end optoelectronic chips and devices. The goal is to establish an integrated framework by 2028 and create more than 30 high-value scenarios.
Account rules
Hong Kong’s Securities and Futures Commission issued supplementary guidance clarifying that licensed institutions can open new accounts for Chinese mainland investors under compliance rules. They can also continue serving existing mainland clients, provided the services are not conducted on the mainland.
News Summary
Chinese mainland residents paid about 13 billion yuan in back taxes on overseas income during the first five months of the year.
Optical module giant Eoptolink Technology (300502.SZ) is planning a Hong Kong IPO.
Contact editor Lin Jinbing (jinbinglin@caixin.com)
