NEOM Hosts Leading Industry Figures for its ‘Discover NEOM’ China Showcase

The tour began in Beijing on April 15, and continued in Shanghai on April 17. (SPA)
The tour began in Beijing on April 15, and continued in Shanghai on April 17. (SPA)
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NEOM Hosts Leading Industry Figures for its ‘Discover NEOM’ China Showcase

The tour began in Beijing on April 15, and continued in Shanghai on April 17. (SPA)
The tour began in Beijing on April 15, and continued in Shanghai on April 17. (SPA)

Saudi Arabia’s NEOM kicked off the China leg of its global “Discover NEOM” tour, in Beijing and Shanghai, with over 500 senior business and industry leaders in attendance.

The tour began in Beijing on April 15, and continued in Shanghai on April 17, said NEOM in a statement on Wednesday.

Organized in partnership with CCPIT Beijing and CCPIT Shanghai, the events included a series of presentations by NEOM’s leadership team showcasing on-the-ground progress and milestones to date, as well as details of NEOM’s various economic sectors.

The events highlighted opportunities for Chinese companies to engage and invest in NEOM. A number of companies expressing interest and discussing tangible next steps with NEOM leadership.

The agenda also included a forum that explored the vast number of opportunities available for Chinese construction companies. Over 100 companies participated in the forum and were briefed about the onsite construction progress across NEOM and its regions.

A private showcase, titled “Discover NEOM: A New Future by Design”, was the highlight of the events. It provided guests with an immersive experience that explored THE LINE, the 170-kilometer-long city that will be the future of urban living; Oxagon, which is redefining the traditional industrial model; Trojena, the mountain resort of NEOM, and finally, Sindalah, a luxury island destination in the Red Sea that will be open to the public later this year.

NEOM CEO Nadhmi Al-Nasr said: “We are grateful to CCPIT Beijing and CCPIT Shanghai for supporting our visit to China and for the opportunity to present NEOM’s vision.”

“To date, NEOM has already engaged with over 15 major Chinese businesses and invested in a number of Chinese startups to support the growth and diversification of NEOM. Collaboration with China will continue to play a vital role in the development of NEOM, and we look forward to strengthening our engagement with the country’s business community.”

CCPIT Beijing Chairman Guo Huaigang said that NEOM and Beijing have significant potential for economic cooperation, and that both are accelerating the development of new modes of productivity, deepening comprehensive reforms, promoting scientific and technological innovation, and working to ensure the protection of the environment. He added that CCPIT Beijing looks forward to the role the cooperation can have in Beijing’s future prosperity.

Deputy Secretary General of Shanghai Municipal Government Zhao Zhuping said: “Shanghai greatly values our relationship with Saudi Arabia. Over the years, we have engaged in extensive cooperation in trade, education, culture and more. We look forward to deepening mutually beneficial engagement with NEOM across infrastructure, renewable energy and technological innovation. The benefits and opportunities for this partnership will only continue to grow.”

“Discover NEOM” China is the latest edition of NEOM’s global roadshow; it follows engagements in key international markets, including Seoul, Tokyo, Singapore, New York City, Boston, Washington, D.C., Miami, Los Angeles, San Francisco, Paris, Berlin and London.



China’s Car Sales Rise in May, but Price Wars Cloud Outlook

 Amukelani Masungi, a worker, cleans the floor next to BYD vehicles on display at a BYD dealership in Sandton, South Africa, June 5, 2025. (Reuters)
Amukelani Masungi, a worker, cleans the floor next to BYD vehicles on display at a BYD dealership in Sandton, South Africa, June 5, 2025. (Reuters)
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China’s Car Sales Rise in May, but Price Wars Cloud Outlook

 Amukelani Masungi, a worker, cleans the floor next to BYD vehicles on display at a BYD dealership in Sandton, South Africa, June 5, 2025. (Reuters)
Amukelani Masungi, a worker, cleans the floor next to BYD vehicles on display at a BYD dealership in Sandton, South Africa, June 5, 2025. (Reuters)

China's car sales rose for a fourth consecutive month in May, but slower increases across major automakers highlighted concerns over aggressive price competition in the world’s largest auto market.

Sales grew 13.9% from a year earlier to 1.96 million vehicles last month, slowing from 14.8% growth in April, China Passenger Car Association (CPCA) data showed on Monday.

Sales of electric vehicles and hybrids rose 28.2% year on year, down from a 33.9% gain in April.

Leading EV maker BYD reported decelerating annual passenger vehicle sales growth to 14.1% last month from April's 19.4% despite a new round of subsidies and incentives late in the month.

Other major automakers, including Geely and Chery, also reported slower growth as the industry’s attention shifted to price wars that have raised concern over a potential market shakeout.

Authorities have warned that such price wars threaten the industry's long-term health, with the sentiments echoed by leading manufacturers such as BYD, Chery and Xiaomi.

The CPCA's secretary-general, Cui Dongshu, said the industry should focus on quality and technology innovation and that leading automakers should lower their sales targets for this year.

CPCA data also showed that car exports rebounded, rising 13.5% year on year in May, reversing a 2% decline in April.