china
The largest Chinese carmaker, BYD, reported a record number of new energy vehicles (NEVs) in the second quarter, including pure electric vehicles (EVs) and plug-in hybrid cars (PHEVs). Pure EV sales amounted to 426,000 units, likely surpassing Tesla’s projected sales of 441,019 EVs for the June quarter. This will be the second time the Chinese best-selling brand has overtaken Tesla to become the biggest EV seller globally, having first topped Tesla's EV sales in the final quarter of 2023. BYD's sales surge due to price cutsBYD is the largest NEV seller and the second-largest power battery make...
Euronews (English)
Manufacturing activity in Europe saw a notable decline in June, with demand falling at an accelerated rate despite price cuts by factories, according to a recent survey. The Hamburg Commercial Bank’s Purchasing Managers’ Index (PMI), compiled by S&P Global, fell to 45.8 in June from 47.3 in May. This dip from the preliminary estimate of 45.6 highlights a sector that has been contracting for two consecutive years, remaining below the critical 50 mark that separates growth from contraction. The PMI is a critical indicator of economic health in the manufacturing sector, with values above 50 indic...
Invezz
The ceremony of signing the agreement on the joint construction of the China-Kyrgyzstan-Uzbekistan railway in Beijing, China. Photo from the website of the Cabinet of Ministers of Kyrgyzstan. Fair use. This article was written by Andrew Gundal for Vlast.kz and published on June 21, 2024. An edited version is published on Global Voices under a media partnership agreement. The China-Kyrgyzstan-Uzbekistan (CKU) railway plans are back on track. On June 6, representatives from the three countries signed off on the project in Beijing, setting in motion a key transportation project that has been in t...
Global Voices
Dianjiang (China) (AFP) - At an empty concrete lot in southwest China, Loulee Wilson scoops a handful of stones into a bag –- a memento from the site where she believes she was abandoned as a baby. Wilson, an American college student, was born in China but given away by parents presumed fearful of violating the country's one-child policy, under which families were punished for having additional children until the strategy was ended from 2016. Soon after her birth, she was found outside a now-demolished factory in the town of Dianjiang, brought to an orphanage and later adopted by a couple in t...
AFP
Apple Inc’s smartphone shipments in China saw a significant increase of 39.6% in May compared to the same month last year, according to data from the China Academy of Information and Communications Technology (CAICT). This substantial growth highlights Apple’s dominant position in the Chinese market amid a broader rise in demand for foreign-branded smartphones. Foreign-branded smartphone shipments soar In May, the shipment of foreign-branded smartphones, led by Apple, jumped by 40.1% year-over-year, reaching 5.03 million units. This marks a 44.1% increase compared to the previous month. Apple’...
Invezz
Pékin (AFP) - Le président chinois Xi Jinping a déclaré vendredi que son gouvernement prévoyait "d'importantes mesures visant à approfondir la réforme", quelques semaines avant une importante réunion politique qui devrait faire de la reprise économique une priorité. La Chine éprouve des difficultés à relancer sa croissance depuis l'abandon fin 2022 de la stricte politique sanitaire mise en place contre le Covid-19. La deuxième économie mondiale est en proie à une crise dans le secteur immobilier, à une consommation toujours faible et à un taux de chômage élevé chez les jeunes. "Nous travaillon...
AFP (Français)
Empresas tecnológicas de todo el mundo se han reunido esta semana en Shanghái en China con motivo del Congreso Mundial de Telefonía Móvil (MWC) de la GSMA para presentar las últimas novedades de la tecnología móvil, centrándose este año en la inteligencia artificial, el futuro de la 5G y la colaboración en el sector. "El MWC tiene algo para todo el mundo, ya sea electrónica de consumo con IA integrada, gafas de realidad aumentada o las soluciones de IA más novedosas", ha declarado John Hoffman, director general de GSMA. El evento del año pasado atrajo a casi 37.000 personas de 115 países y ter...
Euronews (Spanish)
Maldives Trade Minister Mohamed Saeed held discussions with senior officials from Chinese banks to form strategic alliances aimed at boosting the Maldivian economy. This comes as the US credit rating agency Fitch downgraded Maldives’ credit rating to junk status, raising concerns about the country’s ability to repay its foreign debt. High-level talks with Chinese banks While attending the 15th World Economic Forum in Dalian, China, Saeed met with senior officials from the China Industrial and Commercial Bank (ICBC) and the Bank of China. These discussions focused on strategies for further enga...
Invezz
The Hang Seng index has suffered a harsh reversal in the past few weeks as demand for Chinese equities. It is nearing a correction zone after crashing by almost 10% from its highest level this year. It was trading at H$17,720, its lowest swing since May 2nd. Xiaomi stock price implodesThe Hang Seng index has plunged recently as most constituent companies retreated. Notably, Xiaomi share price has moved into a bear market as it dropped by 205 from its highest point this year. Xiaomi has dropped because, as I predicted, its entry into the electric vehicle industry will likely be more costly in t...
Invezz
China’s benchmark government bond yield fell to a nearly 22-year low with experts attributing the development to a shift in investor behaviour towards fixed-income products amid a fragile economic recovery. The onshore 10-year government yield slipped to 2.22%, the lowest since 2002. Yields on the 20- and 50- year bonds have been trading at their historic lows for months. What does the bond market’s performance showGovernment bond yields are critical indicators of economic confidence and investor sentiment. Despite recent upgrades to growth forecasts, the bond market’s performance suggests ong...
Invezz
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