17 h. ago China, US ease export curbs but Trump’s Vietnam deal risks blowback: analysts

A week after announcing long-anticipated progress from high-level talks in London, China and the United States are taking concrete steps to clear export hurdles and issue licenses for strategic goods. The easing of trade restrictions signals a tentative reset between the world’s two largest economies. But the thaw remains fragile, as analysts warned that Washington’s new trade deal with Vietnam could provoke a response from Beijing. Still, for now, both sides have moved to restore access to...

Politics

18 h. ago Xpeng launches G7 ‘Super AI’ SUV, taking on Xiaomi YU7 and Tesla Model Y

Chinese electric vehicle (EV) maker Xpeng launched its G7 SUV on Thursday, sending another contender into a fierce battle in the premium SUV segment of the world’s largest EV market, where it joins Xiaomi’s recently introduced YU7 in taking on Tesla’s market-leading Model Y. Dubbed Xpeng’s first “Super AI [artificial intelligence] car”, the G7 starts at 195,800 yuan (US$27,325), with the top-of-the-line model selling for 225,800 yuan, the Guangzhou-headquartered company said during a launch...

Politics

28 h. ago Tech war: US lifts export control of chip design software to China

The US said on Thursday it had lifted export controls on certain chip design software to China, according to statements from Siemens, Synopsys and Cadence Design Systems. Three of the world’s largest electronic design automation (EDA) software developers have been informed by the US government that sales of their products to China would no longer require special approval, signalling a further easing of bilateral tensions. San Jose, California-based Cadence said in an email that the US Bureau of...

Events

47 h. ago BYD, Geely bank on big discounts to set record car sales, dent smaller rivals

China’s leading electric vehicle (EV) makers from BYD to Geely Auto sustained their strong sales last month as big price cuts lured new buyers, helping boost their market share and heaping pressure on smaller, unprofitable rivals. BYD, the world’s largest EV builder, delivered 382,585 vehicles in June for its best month this year, the Shenzhen-based company said in a filing on Tuesday. While deliveries were little changed from May, they jumped 12 per cent from a year earlier. Geely, China’s...

Economics

68 h. ago China’s Xi Jinping puts domestic market at forefront in high

President Xi Jinping reiterated the need for China to develop a “unified national market” at a high-profile economic meeting on Tuesday, a task which has taken on greater urgency as the country prioritises domestic demand amid a more uncertain external landscape. Greater efforts are needed to address a variety of issues facing the world’s second-largest economy, the Central Financial and Economic Affairs Commission said in a readout from their sixth meeting, explicitly calling for a crackdown on...

Politics

3 d. ago Chinese scientists uncover coal power’s dirty secret in satellite data study

In the first high-precision satellite mapping of carbon dioxide emissions from large international coal power plants, Chinese scientists have found that existing databases are underestimating discharges from facilities across the globe. They include China’s Tuoketuo – the largest coal-fired power station in the world – and Alabama’s James H. Miller Jnr facility, the most polluting plant in the United States, according to a paper published on June 9 by the peer-reviewed Journal of Cleaner...

Politics

4 d. ago Hong Kong’s IPO dominance leaves Singapore grasping for lost allure

Hong Kong’s vast lead over Singapore as a listing venue appears unassailable, with even the Southeast Asian city’s home-grown companies heading north to raise funds, but the city state remains determined to improve its allure, according to bankers and analysts. IFBH, a Singapore-incorporated Thai firm that is the world’s second-largest bottler of coconut water, started trading on the Hong Kong stock exchange on Monday after completing a HK$1.16 billion (US$147 million) initial public offering...

Politics

8 d. ago CATL executive warns of risks from EV price cuts, calls on Beijing to intervene

A senior executive from Contemporary Amperex Technology (CATL), the world’s largest producer of batteries for electric vehicles (EVs), urged authorities on the mainland to intervene in the price war that is roiling the market for new energy cars. Ni Jun, CATL’s chief manufacturing officer, on Wednesday said the brutal discount war would not end if Beijing remained on the sidelines. “One big player cannot always lower prices [to gain market share] while driving out all other small rivals,” he...

Events

8 d. ago Not just manufacturing: Li Qiang vows China will be major consumption power

Premier Li Qiang has pledged that China will become a “consumption powerhouse” capable of fuelling domestic and global growth, even as he acknowledged the country was grappling with a slump in cross-border investment and persistent trade tensions. Speaking at the World Economic Forum’s annual meeting in Tianjin on Wednesday, Li reiterated Beijing’s commitment to boosting demand in the world’s second-largest economy and defending globalisation. “This will make China a mega-sized consumption...

Politics

8 d. ago China’s top security agency mocks CIA informant drive: ‘farcical’

China’s top intelligence agency says a recent CIA campaign aimed at recruiting informants from China is a sign the US spy agency is desperately looking for ways to survive as Washington slashes budgets. “Yet, as resources shrink, the CIA has doubled down on hyping the ‘China threat’ as its lifeline, peddling fear to Congress and taxpayers to carve out a larger slice of the budget pie,” the Ministry of State Security (MSS) said in an article published on Wednesday on its official WeChat...

Events

8 d. ago ‘Peddling fear’: China’s top security agency mocks CIA Chinese informant drive

China’s top intelligence agency says a recent CIA campaign aimed at recruiting informants from China while hyping up the “China threat” is a sign the US spy agency is desperately looking for ways to survive Washington’s budget cuts. “As resources shrink, the CIA has doubled down on hyping the ‘China threat’ as its lifeline, peddling fear to Congress and taxpayers to carve out a larger slice of the budget pie,” the Ministry of State Security (MSS) said in an article published on Wednesday on its...

Events

9 d. ago Xiaomi speeds up YU7 launch, Tesla’s Robotaxi vs Baidu’s Apollo Go: 7 EV reads

We have put together stories from our coverage on electric and new energy vehicles from the past two weeks to help you stay informed. If you would like to see more of our reporting, please consider subscribing. 1. China’s BYD expands car-carrier fleet to bolster EV exports amid furious domestic competition BYD, the world’s largest electric vehicle (EV) maker, has taken delivery of two new car-carrying ships – the largest yet in a growing fleet – as it bets on export growth to counter brutal...

Politics

9 d. ago China’s Li Qiang gives ‘Summer Davos’ keynote in tense global atmosphere

This live blog has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. Get faster notifications on the latest updates by downloading our app. Chinese Premier Li Qiang is scheduled to give the keynote speech at the Annual Meeting of the New Champions, also known as “Summer Davos”, in the northern port city of Tianjin on Wednesday morning. The world’s second-largest economy has largely withstood the tariff war launched by US...

Politics

9 d. ago Li Qiang pledges to make China ‘massive’ consumer market to drive global growth

This live blog has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. Get faster notifications on the latest updates by downloading our app. Chinese Premier Li Qiang is scheduled to give the keynote speech at the Annual Meeting of the New Champions, also known as “Summer Davos”, in the northern port city of Tianjin on Wednesday morning. The world’s second-largest economy has largely withstood the tariff war launched by US...

Politics

9 d. ago Li Qiang says China will be consumption power at ‘Summer Davos’: as it happened

This live blog has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. Get faster notifications on the latest updates by downloading our app. Chinese Premier Li Qiang gave the keynote speech at the Annual Meeting of the New Champions, also known as “Summer Davos”, in the northern port city of Tianjin on Wednesday morning. The world’s second-largest economy has largely withstood the tariff war launched by US President Donald...

Politics

9 d. ago Apple joins China’s subsidy scheme to lift sales amid heated local competition

Apple has joined China’s national subsidy programme, providing a boost to the US tech giant amid heightened competition from major domestic rivals and growing headwinds in the world’s second-largest economy. Consumers in Beijing and Shanghai are now entitled to discounts of up to 2,000 yuan (US$278) on select models of Apple devices – including the iPhone, iPad, Apple Watch and MacBook – when they buy directly from the US company, according to a statement published on Tuesday on Apple’s mainland...

Politics

1 week ago Have Trump’s Iran strikes given China a strategic advantage?

The US’ direct engagement in the Israel-Iran conflict over the weekend could intensify its drive to secure critical resources – particularly rare earth minerals – a development that could strengthen China’s position in its ongoing geopolitical and economic rivalry with Washington, analysts said. A potential escalatory spiral in the Middle East could push forward trade negotiations between the world’s two largest economies, said Xu Weijun, an assistant research fellow at South China University of...

Politics

1 week ago The spy next door: Decrypting China's Ministry of State Security, the world’s largest and most secretive i

The spy next door: Decrypting China's Ministry of State Security, the world’s largest and most secretive i  The Economic Times

Events

1 week ago World's largest automated container terminal starts operation in Shanghai

As part of the Shanghai Free Trade Zone, the system can operate completely unmanned.

Politics

1 week ago How does Trump’s lack of trade deals strengthen Beijing’s hand?

The United States failed this week to reach a tariff deal with Japan, a key Pacific Rim ally, and has threatened to notify multiple countries of new duty rates on imports after talks with only one, the United Kingdom, have shown any results. Those developments, which made the US look weak in the short term, should prompt China to take a harder line with Washington on reaching a deal, analysts said. China, the world’s second-largest economy, was hit especially hard by US President Donald Trump on...

Politics