The company has struggled to sell all those vehicles in recent years, turning heavily to incentives and fleet sales to soak up the excess. Spokeswoman Lloryn Love-Carter said the cuts are unrelated to Ghosn and new managers taking over.
The company has already made hydrogen fuel cell electric vehicles a new focus for its business as its first fuel cell model based on a dedicated electric vehicle platform is scheduled to debut in 2020. It also inked a deal with BMW AG last year to produce electric Mini-branded cars in China.
The communique said that the value of China's gross domestic product is expected to reach 100 trillion yuan (.9 trillion) this year, and the country will achieve sustained and healthy economic development in the next five years with a focus on higher quality growth.
The companies involved could be charged with knowingly hiring workers who are in the country illegally and will be scrutinized for tax, document and wage fraud, Albence said.
The company has more than 20 employees at present and over one-third are from Taiwan.
The company completed its first bad debt transaction worth 20.8 million yuan between an arm of China Huarong and an external institution on Thursday. It also signed agreements on strategic cooperation with multiple partners, including China CITIC Bank Corp Ltd and Beijing Guotong Asset Management Co Ltd.
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The company has been part of efforts in China's coal-rich Shanxi province to push for economic transformation.
The combined turnover of stocks covered by the two indices stood at 355.6 billion yuan (.55 billion), shrinking from 393.6 billion yuan in the previous trading day.
The comments came as a new report forecast that China will have more than 700 million 5G users by 2024, accounting for more than half of the global 5G population by then.
The company decided to roll out three product lines tailored to different demands: rehabilitation-focused urban elder care communities, migratory holiday products, and health care-oriented nursing homes in suburban areas, according to the company.