Editorial : China's new weapon in the trade war

【明報專訊】AMID the ongoing trade war between China and the US, BMW, a German car manufacturer, held a groundbreaking ceremony for its factory in Shenyang, Liaoning — the company's third in China — last week. With an investment of €3.6 billion, the company will increase its stake in a joint venture with a Chinese company from 50% to 75%, thus becoming the first foreign carmaker with a controlling stake in a mainland joint venture. Meanwhile Tesla, a manufacturer of electric cars, has also spent one billion Renminbi on a piece of land in Shanghai in preparation for the construction of its first factory overseas.