6 h. ago China's producer deflation eases, helped by crackdown on price wars

China's producer deflation eases, helped by crackdown on price wars  Reuters

Events

22 h. ago 'The party is over' as European carmakers face tariffs and a price war in China

'The party is over' as European carmakers face tariffs and a price war in China  Reuters

Economics

47 h. ago Meituan rallies staff around expansion plans, job prospects amid delivery war

Meituan CEO Wang Xing is rallying employees around the firm’s instant commerce efforts, overseas expansion and greater social security for delivery workers, more than a week after reporting a sharp fall in second-quarter earnings amid a bruising price war with Alibaba Group Holding and JD.com. In his all-hands letter to staff over the weekend that was widely shared online, Wang said Meituan had served more than 770 million users over the past 12 months through the 14.5 million merchants on its...

Society

47 h. ago BMW monitoring China price war for iX3 launch, sales chief says

BMW monitoring China price war for iX3 launch, sales chief says  Reuters

Economics

3 d. ago ‘Homestay’ heartache hits China as operators lament lack of business

After four years leasing out private holiday accommodation beside the sea in the west of Guangdong province, a downturn in demand has led Chen Mei to regret getting involved in the industry. “I thought domestic demand would rebound quickly after the [Covid-19] pandemic, but price wars have actually intensified across the industry, squeezing profits year by year,” she said. “I’ve begun scaling back operations. If I could choose again, I wouldn’t have invested in the industry.” Chen’s downbeat...

Events

8 d. ago Hong Kong exporters warn US tariffs to hurt sales during coming holiday season

The latest round of “reciprocal” tariffs imposed by the United States has taken a toll on American importer confidence, prompting Hong Kong exporters to warn of weak sales and price inflation in two of the country’s most important spending seasons, Thanksgiving and Christmas. Tariffs ranging from 10 to 41 per cent took effect on August 1 in 70 jurisdictions, including many in Southeast Asia where Hong Kong exporters produce goods for the US. Washington had a deal to extend the tariff truce with...

Events

8 d. ago BYD Stock Plummets. How China’s EV Price War Tanked Tesla Rival’s Earnings.

BYD Stock Plummets. How China’s EV Price War Tanked Tesla Rival’s Earnings.  Barron's

Events

1 week ago BYD profits fall as mainland price war swamps EV export surge

China’s electric-vehicle (EV) king BYD reported a 30 per cent drop in profits in the second quarter as surging overseas sales failed to offset the negative impact of a brutal price war in the domestic market. The Shenzhen-based company earned 6.4 billion yuan (US$894.6 million) in the three months to June, down 29.9 per cent from a year earlier. Revenue grew 14 per cent year on year to 201 billion yuan. The second-quarter numbers are derived by comparing BYD’s interim earnings to its results for...

Economics

1 week ago Tesla Rival Li Auto Stock Falls After Earnings Amid China’s EV Price War

Tesla Rival Li Auto Stock Falls After Earnings Amid China’s EV Price War  Barron's

Events

1 week ago China’s Price War Puts Alibaba Under Spotlight Before Earnings

China’s Price War Puts Alibaba Under Spotlight Before Earnings  Bloomberg.com

Events

1 week ago Li Auto Stock Falls. How China’s EV Price War Dented Earnings.

Li Auto Stock Falls. How China’s EV Price War Dented Earnings.  Barron's

Events

1 week ago Chinese automakers largely ignore Beijing’s plea to end bruising price war

Chinese automakers largely ignore Beijing’s plea to end bruising price war  Automotive News

Events

1 week ago Chinese Carmakers Resist Beijing’s Call to End Brutal Price War

Chinese Carmakers Resist Beijing’s Call to End Brutal Price War  Bloomberg.com

Events

1 week ago Meituan sales weaken, profit plummets amid ‘irrational’ delivery price war

Chinese on-demand local services giant Meituan saw second-quarter earnings fall, as it faced off against Alibaba Group Holding and JD.com in a costly instant delivery price war. Beijing-based Meituan on Wednesday reported weaker-than-expected revenue of 91.8 billion yuan (US$12.8 billion) in the quarter ended June 30. That was up 11.7 per cent from 82.2 billion yuan a year earlier, but fell short of the 93.7 billion yuan estimate by analysts. Net profit for the period tumbled 96.8 per cent to...

Economics

2 w. ago China’s industrial profits fall more slowly amid crackdown on price wars

China’s industrial companies saw their profits fall at a slower pace in July, in a potential sign that efforts to curb overcapacity are starting to ease the strain from aggressive competition among producers. Industrial profits declined 1.5 per cent last month from a year earlier, falling the least since they began shrinking in May, according to data released on Wednesday by the National Bureau of Statistics. For the first seven months of the year, earnings contracted 1.7 per cent year on...

Economics

2 w. ago China Industrial Profits Ease Drop With Crackdown on Price Wars

China Industrial Profits Ease Drop With Crackdown on Price Wars  Yahoo Finance

Economics

2 w. ago China's industrial profits narrow declines to 1.5% in July as Beijing clamps down on price wars

China's industrial profits narrow declines to 1.5% in July as Beijing clamps down on price wars  CNBC

Economics

2 w. ago China’s Factory Profits Fall Again — But Decline Slows After Beijing’s Anti

China’s Factory Profits Fall Again — But Decline Slows After Beijing’s Anti-Price War Push Takes Hold  Stocktwits

Economics

2 w. ago In China’s crippling price wars, an updated law seeks ‘sustainable equilibrium’

It has been a tumultuous couple of months for Alex Xu’s company – a solar panel manufacturer based in eastern China’s Zhejiang province – as product prices have surged by about 20 per cent. Long plagued by severe oversupply, China’s photovoltaic industry is grappling with cutthroat price wars and even loss-making sales. From Xu’s perspective, nearly half of the industry’s capacity is excessive. But a rebound in prices has followed recent calls from Chinese authorities to combat “involution”, or...

Events

2 w. ago China scrambles to fix price wars – by updating a law from 1998. Here’s why

It has been a tumultuous couple of months for Alex Xu’s company – a solar panel manufacturer based in eastern China’s Zhejiang province – as product prices have surged by about 20 per cent. Long plagued by severe oversupply, China’s photovoltaic industry is grappling with cutthroat price wars and even loss-making sales. From Xu’s perspective, nearly half of the industry’s capacity is excessive. But a rebound in prices has followed recent calls from Chinese authorities to combat “involution”, or...

Events