Quick News of China Market in October

1. The market for intelligent manufacturing gets warm

With the popularity of the "robotics assembling line," the market for intelligent manufacturing get warm. According to the National Bureau of Statistics, in the first three quarters of this year, the value-added of China's high-tech manufacturing industry grew by 8.7% year-on-year, 3.1 percentage points faster than that of industries above the designated size, accounting for 14.1% of all industries above the designated size.

2. The export delivery of metal products and machinery equipment increased by 16.6% from January to September

According to the statistic of General Administration of Customs, the export delivery of metal products and machinery equipment in China was 3.95 billion RMB in August 2019, with a year-on-year(yoy) increase of 15%. In September, the export value of metal products and machinery equipment was 3.7 billion RMB, with a yoy increase of 35.1%. From January to September 2019, the export delivery of metal products and machinery equipment in China was 29.58 billion RMB, with a cumulative increase of 16.6%

3. Huawei reaches record share of 42% in China Q3 smartphone market

Huawei extended its market lead by shipping 41.5 million smartphones, to reach a record share of 42 percent in the third quarter of China's smartphone market, registering 66 percent annual growth, according to the latest report released by Canalys, a market research company, on Oct 30. As per the report, this is the sixth consecutive quarter of Huawei's double-digit growth.

4. BYD's Q3 net profit tumbles 88.58%, warns on 2019 profit

Chinese automaker BYD reported on October 29 an 88.58% year-on-year plunge in the third-quarter (Q3) net profit in the wake of a three-consecutive-month decrease in monthly sales volume taking place during the same period. However, this year's cumulative indexes as of September still climbed over the previous year—revenue grew 5.44% to roughly 93.822 billion RMB and net profit was up by 3.09% to 1.574 billion RMB. BYD said the annual profit plunge in NEV business may happen due to such reasons as the continuous sluggish for overall market demand, the changing price system of fossil fuel-powered vehicles and the sharp backslide in green-car subsidies. Nevertheless, fuel-burning vehicle business is expected to revive thanks to stable sales growth of new models like the BYD Song.