U.S., UK and Germany hold more Bitcoin than you may think. According to the Arkham website, the United States’ government holds some 212,847 BTC making it one of the biggest holders of Bitcoin, while the treasuries of the U.K. and Germany reportedly hold around 61,245 BTC and 49,858 BTC each.Read More →
In June 2024, China’s imports fell by 2.3% year-on-year in U.S. dollar terms, missing the expected 2.8% growth forecast by analysts. However, exports rose by 8.6%, surpassing the anticipated 8% growth. This resulted in a 2% increase in year-to-date imports and a 3.6% rise in exports for the first halfRead More →
China’s consumer price inflation rose by 0.2% in June 2024 from a year ago, falling short of expectations. Meanwhile, producer prices remained in line with forecasts. Main points Consumer Price Index (CPI) China’s CPI was expected to rise by 0.4% year-on-year in June, according to poll conducted by Reuters. However,Read More →
Tungsten is a critically important rare earth metal, renowned for its unique and valuable properties. Tungsten has the highest melting point among all metals, which makes it exceptionally suitable for high-temperature applications. Key aspects of its importance Industrial and technological applications Tungsten is used in many industries where hardness, high density, high wearRead More →
Over the last weekend of June 2024, China released its official PMI figures, with the manufacturing PMI remaining at 49.5, the same as in May 2024, indicating a second consecutive month of contraction. On Monday 1st July 2024, Japan adjusted its first-quarter GDP figures, showing a contraction of 2.9% year-on-year,Read More →
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 →
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 →
In a significant development that may affect the electric vehicle (EV) market, the European Union (EU) has tentatively agreed to levy tariffs on Chinese EV manufacturers. This decision reportedly follows an inquiry into the surge of inexpensive, government-subsidized Chinese vehicles entering the EU market. From 4th July 2024, Chinese EVRead 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 →
This expansion occurs as the European Union investigates subsidies provided to Chinese electric vehicle manufacturers, a situation that may lead to the imposition of tariffs. In May 2024 Nio opened a new EV showroom in Amsterdam, while Xpeng introduced its G9 and G6 sports utility vehicles in France. Over theRead More →
Leading technology companies, such as Microsoft, Amazon, and OpenAI, have united under a significant international accord for artificial intelligence (AI) safety measures, established at the Seoul AI Safety Summit on Tuesday 21st May 2024. Following the agreement, firms from various nations, including the UK, China, Canada, the U.S., France, SouthRead 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 →
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 →
The EV named ‘Seagull’ sub $10,000 price tag. This vehicle will likely take-off! Global automakers are becoming increasingly concerned that Chinese competitors, such as the Warren Buffett-endorsed BYD, might saturate their EV market with cheaper EVs, potentially undermining local production and reducing vehicle prices. Concerns have been raised that thisRead 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 →
A U.S. company has gone to the moon – and creates a little piece of history Intuitive Machines’ Nova-C cargo lander, named ‘Odysseus’ after the mythological Greek hero, is the first U.S. spacecraft to soft land on the lunar surface since 1972. Japan, India and China have all had recentRead 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 →
The highest coal using countries in the world These countries accounted for about 82% of the global coal production in 2021 according to 2021 data set. China alone produced more than half of the world’s coal, followed by India with nearly 10%. Global coal use in 2023 hits few high GlobalRead 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 →
Shares of Chinese electric vehicle manufacturers took a hit on Thursday 18th October 2023 after Tesla reported disappointing 3Q results on Wednesday 17th October 2023. It was the first time Tesla, co-founded by Elon Musk, missed on both earnings and revenue since Q2 2019. On Thursday morning, Hong Kong-listed shares of Chinese EV makers BYD and Xpeng fellRead More →
The U.S. reportedly announced new restrictions on exports of advanced chips to China, including two made-for-China chips from Nvidia. U.S. chip stocks fell as the curbs also hit Advanced Micro Devices and Intel. Loopholes The curbs are aimed at closing loopholes that became apparent after the U.S. announced export curbs on microchipsRead More →
More than 6 million users already Baidu also announced that more than 6 million users have used an AI powered tool that sits inside its Google drive-like cloud product. At the 4th September event, Baidu also demonstrated ‘displayed generative’ AI-based products that could assist with traffic management, financial research andRead More →
Ha Jiang, is a virtual online idol, and only exists online. Ha Jiang signed a record deal with Whet Records, Warner Music Group’s pan-Asian dance label in China, in 2021. Ha Jiang is the first virtual idol to conduct a record deal with a major label. The virtual idol uses AIRead More →