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Xiaomi Launches SU7 on March 28, Has More Than 100,000 Preorders
More than 100,000 reservations have been made for the SU7, the first electric car from Chinese manufacturer Xiaomi. Customer test drives of the car will begin on March 25 and the ceremonial unveiling is scheduled for March 28. The SU7 is expected to retail for $35,200 to $55,500. With a powerful 664 horsepower and [more ...]
Alibaba Cuts Prices of Core Cloud Products by 55%
There is intensifying competition in China's cloud computing market as several large Chinese competitors have announced price reductions on their primary offerings. Alibaba Cloud, the cloud computing division of Alibaba Group Holding Ltd. Announced the largest price cut in the company's history, on more than 100 core products. The goal [more ...]
SMIC to Begin Production of Huawei 5nm Processor
Semiconductor Manufacturing International Corp (SMIC), the biggest chipmaker in China, is about to start mass producing new-generation 5-nanometer chips that Huawei developed. SMIC intends to make smaller more advanced 5-nanometer chips, including Kirin chips created by Huawei's HiSilicon unit. SMIC will use its stockpiled inventory of lithography equipment form the Netherlands and the US. [more ...]
New Stock Market Stabilization Measures Discussed
Early on Tuesday, Chinese stocks surged as policymakers discussed a set of steps to steady the falling market. Authorities are attempting to raise roughly 2 trillion yuan ($278 billion) as part of a stabilisation fund in order to purchase shares onshore through the Hong Kong exchange connection, which has caused the [more ...]
China EV Exports Reach New Records
In March, China's exports of passenger cars reached a record-breaking 406,000 units, up 39% YoY. Of those, almost 120,000 were new-energy vehicles (NEVs), which equates to a 70.9% YoY rise. After initially surpassing Japan as the leading vehicle exporter in the first quarter, the nation cemented its position as the...
China GDP Growth 5.3% in Q1, Beats Estimates
China's economy exceeded forecasts in the first quarter, with a 5.3% annual growth in GDP, fueled by robust exports and manufacturing investment. Reduced domestic demand and the real estate market are still presenting issues to the economy. China's GDP is expected to rise by 4.6% this year, according to the...
Tencent Q4 Results, Net Profit Up 44%
Tencent, the giant Chinese internet company, announced a 10% rise in revenue in 2023, bringing in a total of 609 billion yuan ($86 billion). The company's income from gaming was 179.9 billion yuan, and its revenue from online ads increased by 21% to 29.8 billion yuan. Revenue from business and...
Xpeng Hires 4000 People, Expands to New Markets
Xpeng, a producer of electric vehicles (EVs), has announced dealer agreements in a further five nations, extending its global reach beyond Israel and Europe. With branded showrooms, the company has opened dealerships in the United Arab Emirates, Egypt, Azerbaijan, Jordan, and Lebanon to sell its electric cars (EVs) to local...
Scores of Chinese Stocks Removed From MSCI Index
MSCI is removing dozens of Chinese companies from its global benchmarks following a broad market decline. The index provider deleted 66 Chinese stocks from the indexes, the largest number of exclusions in at least two years, but added five Indian stocks to its Global Standard index without making any deletions. These changes...
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Huawei Sees Profit Jump 564%
Huawei Technologies’ net profit rose 564% to 19.65 billion yuan ($2.71 billion) in the first quarter, according to a regulatory statement by its parent firm. [more…]
China EV Exports Reach New Records
In March, China’s exports of passenger cars reached a record-breaking 406,000 units, up 39% YoY. Of those, almost 120,000 were new-energy vehicles (NEVs), which equates [more…]
China GDP Growth 5.3% in Q1, Beats Estimates
China’s economy exceeded forecasts in the first quarter, with a 5.3% annual growth in GDP, fueled by robust exports and manufacturing investment. Reduced domestic demand [more…]
Tencent Q4 Results, Net Profit Up 44%
Tencent, the giant Chinese internet company, announced a 10% rise in revenue in 2023, bringing in a total of 609 billion yuan ($86 billion). The [more…]
Alibaba Cancels Cainiao Hong Kong IPO
Alibaba cancelled its intended Hong Kong initial public offering (IPO) for its logistics division, Cainiao. Alibaba intends to pay up to $3.75 billion for Caniao [more…]
Xiaomi Launches SU7 on March 28, Has More Than 100,000 Preorders
More than 100,000 reservations have been made for the SU7, the first electric car from Chinese manufacturer Xiaomi. Customer test drives of the car will [more…]
Alibaba Cuts Prices of Core Cloud Products by 55%
There is intensifying competition in China’s cloud computing market as several large Chinese competitors have announced price reductions on their primary offerings. Alibaba Cloud, the [more…]
Xpeng Hires 4000 People, Expands to New Markets
Xpeng, a producer of electric vehicles (EVs), has announced dealer agreements in a further five nations, extending its global reach beyond Israel and Europe. With [more…]
Largest Cut to Key Mortgage Rate Since 2019
China has lowered its prime loan rate for five-year loans by 25 basis points, to 3.95%, which is the biggest decrease since 2019. By lowering the [more…]
Scores of Chinese Stocks Removed From MSCI Index
MSCI is removing dozens of Chinese companies from its global benchmarks following a broad market decline. The index provider deleted 66 Chinese stocks from the indexes, the [more…]
