Chinese automaker Seres Group has cut starting prices for its Aito electric cars by 30,000 yuan ($4,460) from Friday, following price cuts by Tesla last week and fuelling expectations of a wider price war. The Aito M5 and M7 electric sports-utility vehicles, which were co-developed by the Chongqing automaker with China’s tech giant Huawei Technologies […]
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China has acquired minority stakes with special rights in two domestic units of tech giant Alibaba Group Holding Ltd, business registration records showed, as Beijing extends a campaign to strengthen control over online content. Beijing has been taking ‘golden shares’ in private online media and content companies for more than five years, and in recent […]
Oil rose more than 1 percent on Thursday supported by optimism over China’s demand outlook and hopes that upcoming inflation data from the United States will point to a slower increase in interest rates. Top oil importer China is reopening its economy after the end of strict COVID-19 curbs, boosting optimism that demand for fuel […]
Chinese automakers can build an electric vehicle (EV) for 10,000 euros ($10,618) less than European automakers, an overwhelming cost advantage that will put pressure on European manufacturers in their home market, the head of auto supplier Forvia said. As European consumers seek cheap EVs, Forvia Chief Executive Patrick Koller told the CES convention in Las […]
China’s tech giant Huawei Technologies Co Ltd estimated on Friday its 2022 revenue remained flat, suggesting that its sales decline due to U.S. sanctions had come to a halt. Despite sales increasing a mere 0.02%, rotating chairman Eric Xu struck an upbeat tone in the company’s annual New Year’s letter, where he revealed the figure. […]
Equity indexes closed lower on Wednesday while U.S. Treasury yields rose as investors eyed 2023 with caution and weighed hopes for an economic boost from China’s relaxed COVID-19 restrictions against concerns about rising infections there. The yield on benchmark U.S. 10-year Treasuries rose for a third straight day, reversing an earlier decline as investors watched […]
The U.S. State Department on Friday launched its long-planned “China House” unit, an internal reorganization to help expand and sharpen its policymaking toward its top geopolitical rival. Secretary of State Antony Blinken in May announced the creation of China House, calling it a department-wide, integrated team that would coordinate and implement U.S. policy across issues […]
The Biden administration on Thursday added Chinese memory chipmaker YMTC and 21 “major” Chinese players in the artificial intelligence chip sector to a trade blacklist, broadening its crackdown on China’s chip industry. YMTC, long in the crosshairs of the U.S. government, was added to the list over fears it could divert American technology to previously […]
Chinese tech giant Alibaba Group Holding Ltd cannot buy some of the most advanced chip designs after the SoftBank-owned British chip tech firm Arm Ltd determined that U.S. and Britain would not approve licences to export technology to China, the Financial Times reported on Wednesday. This is the first known time that Arm has decided […]
New U.S. solar installations are on track to fall by nearly a quarter this year, with panel imports stalled by a ban on goods from China’s Xinjiang region over forced labor concerns, according to a market report released on Tuesday. The dour forecast by industry trade group the Solar Energy Industries Association and research firm […]