Passenger vehicles still dominate the automobile industry, accounting for 83.2 percent of the industry in 2019, up 7.5 percentage points compared with 10 years ago.
Parenti, who splits his time working at universities in Italy and China, further explained that such a mentality might be a result from the unwillingness of Western countries to accept the turning of the tide.
Pan Gongsheng, vice-governor of the PBOC, said at a news conference on Monday that the measures are aimed at plugging regulatory loopholes, prevent systemic risks and enhance financial support to the real economy.
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Pan, also a member of the National Committee of the Chinese People's Political Consultative Conference, made the remarks on the sidelines of the ongoing session of the CPPCC which opened in Beijing on Sunday.
Panelo's announcement came a week after Defense Secretary Delfin Lorenzana recommended the lifting of martial law. Lorenzana, the administrator of martial law, said last week that his recommendation was based on the assessment conducted by the Armed Forces of the Philippines and the Philippine National Police.
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PHNOM PENH - Schools in Cambodia reopened on Monday after a six-month closure due to the impact of the COVID-19 pandemic.
Passenger volume on roads, waterways and air transport dropped by 79.9 percent year-on-year last month, with cargo volume down by 26.5 percent, according to the Ministry of Transport. Taxi drivers, including those engaged in car-hailing services, saw orders dropping by 85 percent.
Part of that is due to the South Korean carmaker's portfolio. It's having to offer more discounts to sell its predominantly sedan lineup at a time when US consumers are clamoring for SUVs and pickup trucks.
PANAMA CITY - China and Panama are ideal partners to make the most of the trade benefits offered by the China-proposed Belt and Road Initiative (BRI), a Panama business leader has said.