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Analysts from Huaxi Securities said in a report released on Monday that the weakening major economic indicators in the US due to the COVID-19 epidemic, combined with the raised expectations for further fiscal expansion, have exerted more downward pressure on the US dollar. As a result, commodities priced in the US dollar have been valued higher while global capital is flowing at a faster pace into non-US markets, especially the A-share market.
Andreas Pinkwart, the state's economic minister, said in this year's video that the Year of the Rat represents qualities of reliability and persistence, and the ability to turn the unfavorable situation into a favorable one.
Analysts said the poor performance at its joint venture with Ford was the main culprit. The joint venture, a major profit driver for Changan, has suffered because it was late in introducing new models into China.
Anheuser Busch, the producer of Budweiser, raised its wholesale price by nearly 50 percent from March 10. Harbin Beer is also planning to raise prices in April.
Analysts said the uptick pointed to a sound recovery and the resilience of China's industrial economy, and the improvements in both supply and demand are likely to continue driving the sales of industrial companies in the coming months.