In May 2024, China’s retail sales exceeded forecasts, increasing by 3.7% from the previous year and surpassing the anticipated 3% rise. Conversely, industrial output experienced a 5.6% growth on an annual basis, falling short of the projected 6% increment. Meanwhile, fixed asset investment saw a 4% increase from the previousRead More →
China’s exports in May increased more than anticipated, whereas imports fell short of expectations, according to customs data released on Friday 7th May 2024. Exports increased by 7.6% in May from the previous year, surpassing the analysts’ expectations of 6% growth. Imports, however, increased by 1.8% during that time, missingRead More →
On Wednesday 29th May 2024, the International Monetary Fund increased its projection for China’s economic growth this year to 5% from the previous 4.6%, citing robust first-quarter figures and recent policy actions. This revision reportedly came after the IMF’s routine evaluation visit to China. The institution now predicts that China’sRead More →
BOGOFF! Buy one get one free offer! What further depths of despair will the Post Office will sink to – fining people for unknowingly using fake stamps.Read More →
Chinese firms are becoming increasingly optimistic about a rise in trade exports, as there is little evidence of global companies completely decoupling from China, Allianz Trade reports. More than one in ten Chinese exporters, ranking as the second-largest exporter of goods to the U.S. following Mexico, anticipate an increase inRead More →
Baidu, one of China’s leading search engine firms, surpassed analysts’ revenue forecasts for the Q1 on Thursday 16th May 2024. This was predominately due to a recovery in advertising revenue and a surge in demand for its AI-driven cloud products. The company announced a revenue of 31.51 billion yuan ($4.37Read More →
Tensions between Washington and Beijing have intensified, with the U.S. ramping up trade restrictions and sanctions on China due to national security concerns. Since Ukraine’s invasion, there has been a roughly 12% drop in trade between the blocs, and foreign direct investments have decreased by 20% compared to those withinRead More →
Tesla’s shares surged on Monday 29th April 2024, marking their best performance since March 2021, following the company’s achievement in advancing its driver-assistance technology in China. The stock closed 15% higher, buoyed by investor enthusiasm over Tesla CEO Elon Musk’s visit to China. On Sunday 28th April 2024, Tesla announcedRead More →
On a quarter-by-quarter basis, China’s GDP grew 1.6% in the first quarter, compared to analysts’ expectations of around expectations of 1.4%. Beijing’s growth target for 2024 is around 5%. China’s growth was driven in part by external demand, as export volume grew by 14% year on year. Industrial output forRead More →
China has reportedly prohibited the use of U.S. processors from both AMD and Intel in government computers and servers. The directive is designed to encourage the use of domestic alternatives. Chinese government agencies are now required to choose ‘safe and reliable’ domestic alternatives for these chips. The sanctioned list featuresRead More →
According to recent analysis, Apple’s iPhone sales in China dropped some 24% in the first six weeks of 2024 compared to the same period last year. Apple faces stiff competition from local rivals in one of its biggest markets. Meanwhile, Huawei, a Chinese company, saw its sales soar by 64%Read More →
In 2023 Apple became the biggest smartphone vendor by shipments in China for the first time. Last year, Honor, a spin-off from Chinese company Huawei, held the second spot with almost a 17% market share, followed by Vivo, Huawei and then Oppo. One of the biggest changes in 2023 wasRead More →
Tesla recalled more than two million cars in December 2023 after the U.S. regulator found its driver assistance system, Autopilot, was partly defective, it was reported. It follows a two-year investigation into crashes which occurred when the tech was in use. The recall applies to almost every Tesla sold in the U.S.Read More →
A Downgrade Amidst Economic Slowdown In a significant development that has raised concerns among investors and policymakers worldwide, China’s debt outlook has been downgraded as the country grapples with a slowing economy. This move reflects growing apprehensions about the sustainability of China’s economic growth and its ability to manage itsRead More →
China’s factory activity contracted for a second month in a row in November 2023. Non-manufacturing activity hit yet another new low this year, signalling that the world’s second-largest economy was still not out of the woods and may require more policy support. The official manufacturing purchasing managers’ index unexpectedly dropped slightlyRead More →
U.S. and China are two of the world’s most influential and powerful countries, with different political systems, cultures, and values. They have also been involved in various conflicts and cooperation over the years, such as trade, human rights, climate change, and security. The flags of the two countries reflect theirRead More →
Top of the apps on Apple app store Baidu’s Ernie bot is a ChatGPT-like chatbot that can generate natural and fluent text based on user input. It is one of the latest artificial intelligence applications from Baidu, a Chinese tech giant that specializes in search engine and AI development. ErnieRead More →
One-year loan rate to 3.45% from 3.55% China’s central bank has cut one of its key interest rates for the second time in three months as the world’s second-largest economy struggles to bounce back from the pandemic. The country’s post-Covid recovery has been hit by a property crisis, falling exportsRead More →
Surprise cut China’s central bank has announced a surprise cut in its key lending rates as the country’s economic recovery loses steam amid as domestic demand remains weak. The PBOC trimmed the interest rate on 401 billion yuan ($55.25 billion) worth of one-year medium-term lending facility (MLF) loans from 2.65%Read More →
The U.S. will ban American investment in some areas of China’s high-tech sector, including artificial intelligence, adding to strained relations between the two superpowers. U.S. firms will also be invited to disclose what investments they make in China in high-tech sectors.The much-anticipated move gives the U.S. government new power toRead More →
Deflation or inflation? China’s consumer price index (CPI) fell by 0.3% in August from a year ago, while the producer price index (PPI) fell by 4.4% last month. This is the first time since February 2021 that the CPI has fallen, and the 10th consecutive month that the PPI has contracted. This indicates that China isRead More →
China’s exports plunge According to latest figures the country’s trade fell more sharply than expected in July 2023, as both global and domestic demand receded amid the pandemic and ongoing tensions with the United States. China’s exports fell by 14.5% in July 2023 from a year ago, the biggest dropRead More →
Leader China has been leading the global electric vehicle (EV) market for years, thanks to its large domestic demand, generous government subsidies, and well-established battery and electronics industry. However, the west is not giving up on the race to electrify the transport sector and reduce greenhouse gas emissions. Europe reportedlyRead More →
Gallium and germanium No, nor me – never heard of them, but they are extremely important elements needed in microchip manufacturing and China is the world’s largest producer. Germanium and gallium are two elements that are used in the production of semiconductor chips, which are essential for various electronic devicesRead More →
Baidu said its AI system called Ernie 3.5 outperformed OpenAI’s ChatGPT and GPT4 in several key areas. ERNIE – Enhanced Language RepresentatioN with Informative Entities Ernie was first introduced in 2019, and since then, Baidu has been improving and upgrading it with new versions. The latest version, Ernie 3.5, was announcedRead More →
For the first time, automotive companies in China surpassed their U.S. counterparts in car sales last year, driven by BYD and expansion in emerging markets, according to a data released Thursday 13th July 2024. Chinese brands such as BYD now at the forefront, reportedly sold 13.4 million new vehicles lastRead More →