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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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New Yuan Bank Loans Hit Record High
Chinese banks granted a record number of new loans in January demonstrating Beijing’s attempts to stabilise development in the second-largest economy in the world. At [more…]
Alibaba Sees Small Revenue Growth, Increased Buybacks
During the October–December period, Alibaba Group Holding Ltd. had a 5% YoY growth in sales, but a 77% YoY decline in net profits. Alibaba announced that, [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 [more…]
PBOC Cuts Reserve Ratio By 50 Basis Points
Starting on February 5, the reserve requirement ratio (RRR) for financial institutions will be lowered by 0.5 percentage points by the Chinese central bank, resulting [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 [more…]
Huawei Spins Off EV Unit
In an effort to further expand its smart car business, Huawei Technologies has registered Shenzhen Yinwang Intelligent Technology as a new company with a registered [more…]
Premier Li Qiang: China GDP Grows 5.2%
According to Premier Li Qiang’s statement on Tuesday at the World Economic Forum in Davos, Switzerland, China’s GDP is predicted to rise by 5.2% in [more…]
China Trade Data for 2023 Released
China’s foreign trade value dropped by 5% to USD5.9 trillion last year, with exports falling by 4.6% to USD3.38 trillion and imports by 5.5% to [more…]
China Increases Regulation On LGFV Offshore Bonds
Chinese regulators have closed a regulatory gap that allowed highly indebted local government finance vehicles (LGFVs) to expand borrowing last year by ordering LGFVs to [more…]
BYD Overtakes Tesla in EV Sales
BYD passed Tesla in Q4 2023 in terms of sales of pure EVs, benefiting from an aggressive price battle its US competitor initiated last year. [more…]
