China's Economy Faces Slowdown Amid Housing Market Troubles and Weak Consumer Demand
Economists have lowered their expectations for China's full-year GDP growth following the release of disappointing economic data over the weekend
Volkswagen announced on Monday that it has once again postponed the opening date of some of its production facilities in China because of the coronavirus concerns.
The German carmaker said that Saic Volkswagen - the joint venture between Volkswagen and Saic Motor Corp- will resume its activities as early as February 24th.
FAW-Volkswagen - the joint venture between Volkswagen and FAW Groupand has already resumed production at some of its plants, Volkswagen said, adding that all plants are expected to start working in the next days.
"We are working hard on getting back to our normal production schedule, while facing delays due to national supply chain and logistics challenges as well as limited travel options for production employees," Nikolas Thorke, spokesman for Volkswagen's China operation, told DW.
Meanwhile, the Japanese car company Toyota said it resumed the work in two of its plants in China on Monday. Another Japanese automaker, Mazda also reopened its Chinese factory.
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