PRE-MARKET CHINESE STOCKS NEWS: Chinese official PMIs slipped into contraction territory

BYD (1211 HK) - Co. January sales fell 30.1% Y/Y to 210.1k units. (Newswires)

Chery Auto (9973 HK) - Co. January sales fell 10.7% Y/Y to 191.5k units. (Newswires)

Geely Auto (175 HK) - Co. January sales rose 1% Y/Y to 270.2k units. (Newswires)

Great Wall Motor (2333 HK) - Co. January sales fell 11.6% Y/Y to 90.3k units. (Newswires)

Guangzhou Auto (2238 HK) - Co. January sales 117k units (prev. 98.0k units Y/Y). (Newswires)

Xiaomi (1810 HK) - Co. and Ford (F) held discussions on EV partnership. (FT)

Telecoms - China's Ministry of Finance and the State Administration of Taxation recently issued an announcement on the specific matters concerning the scope of VAT taxation with telecom services VAT to increase to 9% from 6%.

Other News

US President Trump warned of a very substantial response if Canada enacts a trade agreement with China, while he added that the US does not want China to take over Canada, which would happen with the deal that they are looking to make. (Newswires)

Chinese President Xi called for China’s renminbi to attain global reserve currency status. (FT)

Data Recap

• Chinese Manufacturing PMI (Jan) 49.3 vs Exp. 50.1 (Prev. 50.1)
• Chinese Non-Manufacturing PMI (Jan) 49.4 vs Exp. 50.3 (Prev. 50.2)
• Chinese Composite PMI (Jan) 49.8 (Prev. 50.7)
• Hong Kong GDP QQ (Q4 A) 1.0% vs Exp. 0.4% (Prev. 0.7%)
• Hong Kong GDP YY (Q4 A) 3.8% vs Exp. 3.0% (Prev. 3.8%)