Nissan sets up China-based import-export joint venture for vehicles

At the sixth China International Import Expo on November 6, Nissan Motor announced the establishment of Nissan Import and Export (Guangzhou) Co. Ltd., the first joint venture vehicle import-export company set up by a foreign automaker in China. The new company is 60% owned by Nissan China Investment and 40% by Dongfeng Motor Group. It will oversee the export of models developed in China, with the Dongfeng Nissan N7 and Frontier Pro PHEV among the first to be shipped overseas. Dongfeng Motor Co. deputy general manager ZHOU Feng said the move marks a new phase in Nissan's China strategy — "rooted in the local market, benefiting the world."

World Openness slips marginally, emerging economies sustain momentum

by YANG Shuhongji The World Openness Index, measuring openness levels across 129 economies from 1990 to 2024, stood at 0.7545 in 2024, down 0.05% from a year earlier, according to the World Openness Report 2025 released Wednesday at the eighth Hongqiao International Economic Forum in Shanghai. Compiled by the Chinese Academy of Social Sciences and the Hongqiao Forum Research Center, the report said global openness continues to face headwinds but noted that emerging markets and developing economies are playing a growing role in sustaining openness. China's index rose from 0.5891 in 1990 to 0.7634 in 2024, reflecting its continued integration into global trade and investment. "The world's openness will rely more on emerging forces in the future,"said Liao Fan, head of the CASS Institute of World Economics and Politics.

CIIE opens with first deal topping US$100 million

The 8th China International Import Expo (CIIE) kicked off on Wednesday with its first major contract, as Shanghai Pratt & Whitney Aircraft Engine Maintenance Co. signed a deal worth over US$100 million with International Aero Engines (IAE) for V2500 engine parts, Yicai reported. The agreement, concluded under the Qingpu sub-group of the Shanghai trading delegation, marks the first purchase signed at this year's expo, held Nov.5-10.

CIIE brings in over 4,100 batches of exhibits worth 8 billion yuan since 2018

More than 4,100 batches of exhibits worth over 8 billion yuan (US$1.1 billion) have entered China for the China International Import Expo (CIIE) since the event's launch in 2018, Shanghai Customs said. From 2018 to 2024, customs authorities handled about 3,890 batches of imports valued at 7.97 billion yuan. Ahead of this year's eighth expo, which opens on Wednesday, 289 batches of exhibits worth 176 million yuan had cleared customs as of Oct. 31.

Alibaba's Qwen wins global AI investing contest as U.S. rivals post losses

Alibaba's Qwen model topped the "Alpha Arena" real-time AI investing competition with a 22.3% gain, beating five global large language models, organizers said on Tuesday. The 17-day contest, launched on Oct. 18 by research firm Nof1, gave each participant US$10,000 to trade autonomously in live markets without human input. Qwen and fellow Chinese model DeepSeek were the only two to turn a profit, while all four U.S. models — including GPT-5, Gemini 2.5 Pro, Claude Sonnet 4.5 and Grok 4 — ended in the red. GPT-5 recorded the steepest loss at more than 62%.

Temu tops global app charts for third year as downloads surpass 1.2 billion

Temu has surpassed 1.2 billion downloads worldwide by the end of October, extending its lead as the most downloaded shopping app globally for a third straight year, data from Sensor Tower showed on Tuesday. Between January and October, the e-commerce platform once again ranked first in both global downloads and active user growth, remaining No.1 across North America, Latin America, the Middle East, Africa, Japan and South Korea. Temu's monthly active users climbed to a record 530 million in August.

Geely to buy 26.4% stake in Renault's Brazil unit

Zhejiang Geely Holding Group said it will acquire a 26.4% stake in Renault do Brasil from Renault Group under a definitive agreement signed on Monday. Renault will remain the majority shareholder and continue to consolidate the unit's results. The deal will allow Geely to tap Renault Brazil's industrial and sales network, with its EX5 electric SUV to be sold through exclusive stores operated under Renault's dealership network.

PBOC, Bank of Korea renew 400 billion yuan currency swap

The People's Bank of China (PBOC) said it has renewed a 400 billion yuan (US$56 billion) currency swap agreement with the Bank of Korea to strengthen financial cooperation and support trade. Approved by China's State Council, the deal is valid for five years and can be extended by mutual consent, the central bank said. The renewal is expected to further facilitate bilateral trade and help maintain financial market stability.

Global gold demand hits record 1,313 tonnes in Q3 — WGC

Global gold demand, including over-the-counter trades, reached 1,313 tonnes in the third quarter — the highest on record — worth an estimated US$146 billion, the World Gold Council said in its latest quarterly report. Investment demand surged 47% year on year to 537 tonnes, accounting for 55% of total net demand in the quarter.

Trinasolar partners with Atlas for GWh-scale solar-storage project in Chile

Trinasolar said it will work with Atlas Renewable Energyto develop a 233 MW/1,003 MWh grid-forming energy storage system as part of a solar-plus-storage complex in the South American nation. The project, backed by Atlas'recent US$475 million financing, will supply clean power to Chile's mining sector and help strengthen the national grid's stability. The deal marks another GWh-scale order for Trinasolar's energy storage business as it accelerates expansion into overseas markets.