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The company attributed the drastic boost to a moderate recovery of the world economy and an increase in international oil prices.

The company had already invested 16 billion yuan in electric cars by June this year, officials said during the interim financial results briefing in August.

The comments came as concerns over infrastructure spending increased after data appeared to dampen economic prospects.

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The company also became the ninth-largest company in terms of market value on the Hong Kong stock market, following the Industrial and Commercial Bank of China worth about HK2.6 billion, Sina.com reported.

The company has 75,000 employees, 23 research and development centers, and 21 manufacturing facilities worldwide. It has set up sales branches in more than 80 countries and regions worldwide, with operations spanning over 160 countries and regions.

The company has already started research into 6G by cooperating with premier universities in China.

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The company has set a target of selling 400,000 new energy vehicles in China in 2020 and 1.5 million in 2025.

The company claims that one in every five pounds spent by Chinese visitors to Britain is spent in Harrods.

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The company also provided zero-contact delivery to lower the risk of cross infection. Customers can place orders through online platforms to receive lubricant products at home.

The combined onshore assets of China's "big five" lenders came in at 92.5 trillion yuan, 36 percent of total assets in the industry. [Photo/VCG]