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China Issues Coupons to Stimulate Consumption (China Daily, 2 min read) Fifty cities have issued coupons with a cumulative value ranging from millions to hundreds of millions of yuan via WeChat and Alipay platforms. Over 80% of coupons are related to the catering industry, and 42.5% are related to the tourism industry.
Tesla’s China Shipments Surge as Shanghai Plant Ramps Up (CX TECH, 1 min read) Wholesale shipments by Tesla climbed to 10,160 units in China last month, more than doubling February figure. Suggesting, Tesla has been gaining momentum at the new Shanghai facility, its first vehicle-assembly plant outside the U.S.
The View From Space: China Hasn’t Started to Rebound (Barrons, 5 min read) Alternative data from space such as pollution, infrared data across supply and night light from the city – shows deep, ongoing contraction in business activity. Raising doubts about optimism and accuracy of recent PMI data.