16 h. ago Xpeng and Chinese EV peers aim to win over Hongkongers amid global push

Chinese electric vehicle (EV) maker Xpeng aims to start offering Hong Kong consumers smart cars featuring semi-autonomous driving systems next year as it gears up to take on Tesla’s FSD (Full Self-Driving) feature outside mainland China. He Xiaopeng, co-founder and CEO of the Guangzhou-based carmaker, said in Hong Kong on Thursday that testing of its Xpeng Navigation Guided Pilot (X NGP) driver-assistance system in the city would take only two months before sales could begin. However, he added...

Politics

42 h. ago iFlytek says using local chips in AI models extends development time by 3 months

A senior Chinese tech executive admits that using mainland-produced semiconductors could delay the development of artificial intelligence (AI) models by three months, but insisted that his company would continue to use these chips and push improved processes. Liu Qingfeng, chairman and founder of Chinese voice recognition solution provider iFlytek, said that the extended AI model development process was due to the need for additional computing resources, compared with using Nvidia chips and...

Politics

67 h. ago Chinese premier urges faster tech applications amid US export controls

Chinese Premier Li Qiang has called for a push to speed up the application of new advances in science and technology, as the country accelerates efforts to break its dependence on US tech and develop a world-leading industrial base. In a State Council meeting on Monday, Li called the application of new technologies the “last mile” of innovation, as it links innovation and industry and is important in driving new products and services, state-run news agency Xinhua reported. The premier’s comments...

Politics

5 d. ago US retailers demand Chinese firms pay shipping costs as trade pressure grows

US retail giants are demanding that their Chinese suppliers split or even bear the full cost of shipping goods across the Pacific, as freight rates skyrocket amid the disruption caused by the trade war, sources at Chinese export firms told the Post. The move is the latest sign of the intense pressure America’s biggest retailers are putting on Chinese factories to absorb more of the additional costs created by the trade war, with the companies facing calls at home to “eat the tariffs”. Until...

Economics

1 week ago US retail giants pushing Chinese suppliers to shoulder up to 66% of tariff costs

American retail giants are now demanding that their Chinese suppliers shoulder half to 66 per cent of the cost of US import duties, as the ongoing US-China trade war ramps up pressure on businesses’ bottom lines, industry sources told the Post. US retailers have been locked in talks with Chinese producers for weeks over how to handle the additional costs caused by the trade war, with the firms facing intense political pressure at home to “eat the tariffs” and keep prices stable. Walmart and...

Economics

1 week ago Exclusive | US retail giants pushing Chinese suppliers to shoulder up to 66% of tariff costs

Exclusive | US retail giants pushing Chinese suppliers to shoulder up to 66% of tariff costs  South China Morning Post

Economics

2 w. ago 5 Chinese firms seek Hong Kong IPOs, joining fundraising flurry

Five mainland companies have filed preliminary listing applications with the Hong Kong stock exchange to raise capital, joining the flurry of Chinese start-ups that have pushed the city to the top of the global ranking for initial public offerings (IPOs). The pack is led by Muyuan Foods, one of the world’s largest hog breeders and pork producers, which may raise up to US$1 billion through a secondary listing. Shenzhen-listed Muyuan has appointed Morgan Stanley Asia, CLSA and Goldman Sachs (Asia)...

Economics

2 w. ago Cerberus eyes Darwin Port, says Chinese port operator, amid Australia's local ownership push

Cerberus eyes Darwin Port, says Chinese port operator, amid Australia's local ownership push  Reuters

Politics

3 w. ago Trump says China and Walmart should ‘eat the tariffs’ instead of raising prices

The US president lashed out at the retail giant after it warned that everything from bananas to child car seats could get more expensive.

Politics

3 w. ago China tariff ‘stacking' pushes true cost of import taxes well above 30% on many consumer products

China tariff ‘stacking' pushes true cost of import taxes well above 30% on many consumer products  NBC10 Philadelphia

Economics