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Search resuls for: "Xi'an"


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☆ Tesla delivery time is longer on some China models after discounts
  + stars: | 2023-01-09 | by ( ) www.reuters.com   time to read: +2 min
The waiting time for orders of the rear-wheel-drive and long-range versions of Model Y was a week longer on Monday than it had been on Friday, Tesla's website showed. The wait time for all versions of the Model 3 and the performance version of the Model Y remained at one to four weeks as of Monday. A Tesla representative told Reuters on Saturday that the company has no plan to compensate those buyers for price cuts they had missed. Some of the buyers in China said they had been led to believe that the further discounts would not be coming. Comments on Chinese social media were largely negative toward the Tesla buyers who have protested, with many saying online they should have understood the terms of the contract.
☆ Developer China South City sells 70% stake in Xian projects for $717 million
  + stars: | 2022-12-18 | by ( ) www.reuters.com   time to read: +1 min
"The deal will be able to improve the liquidity of (China South City Xi'an)...and provide additional working capital to the group and reduce the gearing ratio of the group," China South City said in the filing on Sunday. China South City also said the buyer represents related parties of a unit that is part of its major shareholder SZCDG, which is owned by the Shenzhen municipal government. China South City Xi'an has property developments of completed gross floor area of 2.41 million square metres, and planned gross floor area of 760,000 square metres. After the deal, the business will be held 69.35% by the buyer, and 30.65% by China South City. The buyer has also been granted a Put Option which will allow it to sell all or part of the shares in the Xian business back to China South City in the future.
☆ Tapestry deepens push into China, undeterred by luxury market slump
  + stars: | 2022-10-25 | by ( Casey Hall | ) www.reuters.com   time to read: +6 min
It also follows some 60 Tapestry store openings in China over the last two years. Research from real estate firm Savills also shows 55% of the world's luxury store openings last year took place in China. It saw China sales slide 32% for the quarter ended July 2 from the same period a year earlier. China sales generally account for around a fifth of its overall sales. Coach's luxury market share in China is also more than double that of Michael Kors and more than triple that of Ralph Lauren and Tory Burch, according to Euromonitor data.
☆ China rushes to control new Covid cases across the country
  + stars: | 2022-10-11 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +1 min
Workers in Shanghai's Changning district put up fencing on Oct. 7, 2022, around a neighborhood lockdown after reports of new Covid cases. BEIJING — New Covid cases are spiking across mainland China, prompting many local authorities to tighten controls on movement. About 4.8% of China's gross domestic product was negatively affected by Covid controls as of Monday, according to a model from Nomura. On Tuesday, many schools in the central Chinese city of Xi'an cancelled in-person classes for most students, according to a local news outlet. A hashtag about the sudden closures was one of the top-trending items on Weibo, China's Twitter-like social media platform.
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