By allowing local governments and state-owned enterprises to buy unsold land and housing from distressed developers, China is betting a property slump weighing down the economy can be stopped once and for all.
China’s leading EV makers are taking longer to settle payments with suppliers, indicating stress in the industry because of slowing sales and mounting discounts.
Gotion’s G-Current lithium-ion-phosphate battery offers a driving range of nearly 500km in under 10 minutes of charging. Deliveries are expected to start in 20025 when a new plant is ready.
Hong Kong stocks at 10-month highs after China’s property support measures cheer investors.
Cloud Light Technology CEO Dennis Tong anticipates multiple years of 50 per cent growth as AI drives up demand for faster data centre resources.
Licensing of Xpeng’s technologies will allow the EV maker to further its research and development efforts and maintain its technological edge, vice-chairman and president Brian Gu says.
The influence and spending potential of China’s Gen Z population make them a major target group for many brands, both large and small.
The mainland has US$3.9 trillion worth of unsold properties, which makes Beijing’s funding plan account for less than 2 per cent of that excess inventory, a Barclays report said.
A wave of mergers and acquisitions is about to transform China’s brokerage industry as Beijing presses ahead with its ambition to become a financial powerhouse by 2050.
State-owned company plans to be first to use Gotion High-Tech’s solid-state batteries when they start mass production, chairman Yin Tongyue says.
TikTok, the short video platform originally popular for its 15-second lip-synching content, is now testing 60-minute video uploads with certain creators, in a challenge to veteran online video giant YouTube.
The ‘general data’ list, covering 64 categories, will enable certain firms to make data transfers overseas without a security assessment.
Beijing has announced 300 billion-yuan in funds to help clear excess housing inventory, as well as measures to ensure developers have access to financing and that homes are delivered on time.
An analysis from TechInsights has found 33 China-sourced components in the standard Pura 70 handset, compared with five sourced from overseas.
German industrial engineering firms reported a negative outlook for their China business in a recent survey, with weak demand and overcapacity most frequently mentioned as the cause for their low confidence.
The mainland’s e-commerce sector achieved a 12 per cent overall growth in the March quarter, according to data from JPMorgan.
He Lifeng stressed the need to ‘carry on the battle’ to surmount the risks that unfinished and unconstructed homes represent, as the health of the property market is tied closely to social wellness and economic development.
Hong Kong stocks were lifted by signs corporate earnings may have bottomed out, and after Beijing delivered a batch of property support measures.
A High Court in Hong Kong has adjourned the hearing on a winding-up petition against Country Garden to June 11, giving the developer more time to reorganise its finances as Beijing steps up efforts to revive the housing market.
The Beijing-based company reported US$36 billion in first-quarter sales, beating analysts’ estimates.
China’s search engine and AI giant saw revenue grow 1 per cent in the first quarter, while net income fell 6 per cent but was better than estimates.