More Chinese companies are becoming global players.
In all, BYD, state-owned SAIC and other Chinese companies gained 9% of the global electric car market in the second quarter, up from 5% in the second quarter, Counterpoint Research said.
That's on top of the companies' share in the domestic Chinese market — the largest globally for autos.
For the full year, XCMG has an export sales growth target of 50% growth, UBS stock analyst Phyllis Wang and a team said in a Sept. 4 note.
Chinese companies have been trying to "go global" for years, with tacit encouragement from Beijing.
Persons:
Lei Meng, That's, Xiao Feng, BYD, UBS's Meng, XCMG, Phyllis Wang, Mingyang, JPMorgan's Helen Zhu, — CNBC's Michael Bloom
Organizations:
Car, UBS Securities, China Equity, SAIC, Research, Hong, Toyota, General Motors, Britannica ., Xuzhou Construction Machinery, Central, UBS, Beijing ., JPMorgan
Locations:
Hong Kong, Britannica, China, Shenzhen, Xuzhou, West Asia, North Africa, Central America, Europe, Central Asia, North America, Beijing, Beijing . State, Shanghai