Car sales up 27% for first half of May RETAIL car sales in China jumped 27% in the first half of May from the same period a month earlier in early signs of recovery for the world’s largest auto market, which has been battered by COVID-19 lockdowns, data showed. April was the worst month for China’s auto market since early 2020 as the country shut factories to combat fresh cases, hurting logistics and sapping demand. In the past few weeks, top cities are slowly easing curbs. Still down 21% from a year earlier, retail sales for passenger cars for the first 15 days this month rose to 484,000 units, data from the China Passenger Car Association (CPCA) showed Thursday. Sales during the period from May 9 to 15 rose 26% from the same period in April to 230,000 units, the CPCA said. Solar firms to benefit from EU’s energy plan CHINESE renewable power companies are poised to benefit from the European Union’s plan to cut its reliance on Russian energy. Some of China’s, and therefore the world’s, biggest solar manufacturers have been forced to divert panels away from the United States as shipments get snarled up in trade frictions with Washington. That’s left the EU, where there are no such obstacles, as the single largest market for Chinese firms, accounting for 46% of exports in 2021, according to Morgan Stanley. That’s likely to rise after the 210 billion-euro (US$220 billion) plan announced by the EU on Wednesday. Renewable energy capacity expands rapidly CHINA’S installed capacity of renewable energy registered fast growth in the first four months of the year as the country strived to reach its carbon peaking and carbon neutrality goals. In the January-April period, the capacity of wind power jumped 17.7% year on year to around 340 million kilowatts, while solar farms saw capacity hit 320 million kilowatts, an increase of 23.6%, according to the National Energy Administration. Curbs on imports of Canadian canola lifted CHINA has removed a three-year restriction on imports of Canadian canola seed, Canadian officials said in a statement Wednesday that didn’t provide a reason for the lifting of curbs, but trade is likely to be limited by low stocks and high prices. China, the world’s top oilseed buyer, suspended two Canadian canola exporters in March 2019, alleging that pests had been detected in shipments. Canada is the world’s biggest producer and exporter of canola. | 