Chinese firms are reportedly intensifying their efforts to develop a competitive alternative to Nvidia’s AI chips, as part of Beijing’s ongoing initiative to reduce its reliance on U.S. technology. China faces several challenges that are impeding its technological progress, including U.S. export restrictions that limit domestic semiconductor production. The lackRead More →
Shares of many Chinese property stocks listed in Hong Kong soared to their highest levels in more than a year, propelled by the ongoing stimulus rally in China The real estate sector emerged as the top performer in the Hang Seng Index on Wednesday 2nd October 2024. Chinese stocks experiencedRead More →
Chinese technology stocks, such as the previously underperforming Alibaba, have surged this week, reaching peaks not observed in over a year The stock surge follows the announcement of stimulus measures by China’s central bank to boost the world’s second-largest economy. On Thursday 26th September 2024 in the U.S., Alibaba’s sharesRead More →
Chinese stocks continued to rise following state media reports that China’s top leaders have endorsed the government’s recent measures to bolster their economy. The CSI 300 index in Mainland China continued its rally for a seventh consecutive day, reaching its highest point in about four months, subsequent to a meetingRead More →
Artificial Intelligence (AI) has become a pivotal battleground in the technological race between China and the United States. “AI is expected to become a crucial component of economic and military power in the near future,” Stanford University’s Artificial Intelligence Index Report 2023 stated. Both countries are significantly investing in AIRead More →
August 2024 saw China’s exports increase more than expected however, imports fell short of forecasts Exports expanded by 8.7% in U.S. dollar terms compared to the previous year, while imports saw a marginal increase of 0.5%. The export volume of China’s rare earths decreased by 1% from the previous year,Read More →
On Monday 9th September 2024, China announced that its consumer price index (CPI) increased by 0.6% year-on-year in August 2024, falling short of expectations and due mainly to decreasing costs in transportation, home goods, and rents. The consumer price index was projected to rise by 0.7% year-on-year in August 2024,Read More →
The Biden administration is reportedly implementing new export controls on essential technologies, such as quantum computing and semiconductor materials, in response to China’s progress in the global chip market These controls encompass quantum computers and their components, sophisticated chipmaking tools, semiconductor technologies, certain metal and metal alloy components and software,Read More →
China’s inaugural venture into high-end video gaming has smashed global records, enhancing the industry’s international aspirations despite the gaming restrictions imposed by Beijing. Black Myth: Wukong, an action-adventure game rooted in Chinese mythology, surpassed 10 million units sold just three days following its release on 20th August 2024. A weekRead More →
The U.S. and China recently signed an agreement to cooperate on financial stability. This agreement was part of a meeting of the U.S. – China Financial Working Group held in Shanghai. The discussions were reportedly described as professional, pragmatic, candid, and constructive. The agreement includes measures for both countries toRead More →
China has seen new energy vehicles surpass traditional fuel-powered cars in monthly sales for the first time. (Data as per the China Passenger Car Association’s July 2024). New energy vehicles, comprising solely battery-operated and hybrid-powered cars, represented 51% of China’s new passenger car sales as registered in July 2024 asRead More →
In July 2024, China’s consumer prices index (CPI) increased by 0.5% from the previous year, as reported by the Chinese National Bureau of Statistics on Friday 9th August 2024. The increase surpassed the 0.3% predicted by analysts. The core consumer price index, excluding food and energy, climbed by 0.4% fromRead More →
On Tuesday 6th August 2024, China launched its inaugural batch of internet satellites, which are expected to be part of a constellation designed to compete with SpaceX’s Starlink. The constellation, named “Thousand Sails,” comprises over 15,000 satellites in low-Earth orbit that are anticipated to provide worldwide internet coverage. China plansRead More →
Apple has been ousted from the top five smartphone vendors in China during Q2, as local brands like Huawei continue to escalate competition Apple is no longer among the top five smartphone vendors in China as local brands take over the market. Apple’s market share in China has declined, fallingRead More →
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 →