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01.01.26 - 09:36
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Full throttle: Chinese EV makers to corner one-third of global market by 2030, UBS says (SCMP)
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China's carmakers are on track to capture about one-third of the global auto market by 2030 and generate most of their profits overseas, according to UBS, underscoring the resilience of the country's electric vehicle (EV) advantage despite mounting trade barriers in the West.
The Swiss bank said its forecast had remained unchanged from two years ago, even as Chinese carmakers accelerated factory construction in Europe and some global rivals scaled back electrification plans.
“The main drag was......
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01.01.26 - 07:36
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Chinese rocket firm LandSpace moves closer to US$1 billion IPO in Shanghai (SCMP)
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Chinese rocket maker LandSpace aims to raise 7.5 billion yuan (US$1 billion) from an initial public offering (IPO) in Shanghai, after becoming the first home-grown aerospace firm to have its listing application accepted via a fast-tracked process.
The Beijing-headquartered company, regarded as a challenger to Elon Musk-led SpaceX, said its listing aimed to “actively respond to national strategic plans and urgent market demands”, according to its prospectus.
The Shanghai Stock Exchange (SSE)......
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01.01.26 - 07:12
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US grants TSMC annual licence to import American chipmaking tools into China (SCMP)
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The US government has granted an annual licence to Taiwan Semiconductor Manufacturing Co (TSMC) to import American chip manufacturing equipment to its fabrication facilities in Nanjing, the capital of eastern China's Jiangsu province, according to the company.
The approval “ensures uninterrupted fab operations and product deliveries”, TSMC, the world's largest contract chipmaker, said in a statement on Thursday to Reuters.
South Korea's Samsung Electronics and SK Hynix have also received......
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01.01.26 - 05:36
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Small restaurants in China starve as consumers suppress appetite for spending (SCMP)
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Small restaurants across mainland China have taken a beating as budget-conscious consumers refrain from dining out because of prevailing pessimism about their income amid a shaky economy.
Some establishments are already at a make-or-break point after posting losses for several straight months.
“My family used to live on the restaurant, which generated strong cash flow for us,” said Zhang Hongbin, owner of a canteen serving noodles and dumplings on Lancun Road in Shanghai's Pudong New Area. “But......
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01.01.26 - 04:06
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How Chinese robotaxi giants are steering the Middle East towards a driverless future (SCMP)
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When hailing a car on Uber, riders usually choose between economy and premium options. But in certain areas in Abu Dhabi, capital of the United Arab Emirates, the first choice that flashes on the screen is “autonomous”.
The availability of driverless cars underscores the urgency of the nation's push to promote clean energy and reduce dependence on oil and gas. At the forefront of this effort are Chinese robotaxi developers, which see the Middle East as one of their starting points for global......
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01.01.26 - 03:48
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China′s EV Makers Are Powering Southeast Asia′s Bus Revolution (ZeroHedge)
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China's EV Makers Are Powering Southeast Asia's Bus Revolution
Chinese-made electric buses are rapidly gaining ground across Southeast Asia as governments push to decarbonize public transport and Chinese manufacturers seek growth beyond a slowing home market, according to Nikkei Asia.
In Jakarta, that shift is already visible. Transjakarta, the capital's main bus operator, introduced electric buses from China's BYD in 2022. It now runs 420 electric buses — nearly 10% of its fleet — including models from Skywell and Zhongtong, and plans to fully electrify its 10,000-bus fleet by 2030.
For veteran driver Muhammad Iqbal, the change has been dramatic. A decade ago, Chinese buses in Indonesia were known for breakdowns and even fires, forcing operators to rely on Japanese and European brands. Now, Iqbal says the new electric models are easier and more comfortable to drive. “It's more comfortable to drive this electric bus,” he said. “It uses an automatic transmission, and drivers don...
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01.01.26 - 03:06
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China′s Moonshot AI raises US$500 million in latest funding round: report (SCMP)
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Chinese artificial intelligence unicorn Moonshot AI has raised US$500 million in its recent Series C funding round, according to a report, as start-up rivals MiniMax Group and Zhipu AI gear up for their initial public offerings (IPOs).
Moonshot AI, developer of the highly lauded Kimi AI models, saw IDG Capital lay out US$150 million to lead the latest financing round, with existing stakeholders Alibaba Group Holding and Tencent Holdings also participating, Chinese technology news outlet LatePost......
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01.01.26 - 02:06
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China′s Gen Z consumers drive rise in homestay bookings to ring in the new year (SCMP)
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More young Chinese consumers are opting for bed-and-breakfast stays at private villas to ring in the New Year, drawn to the larger space, set-up options and enhanced privacy offered by these properties, leading to a fresh round of competition for hoteliers.
That has prompted B&B operators to step up efforts in creating distinct ritualistic experiences – such as group countdown events, fireworks displays and complimentary bottles of wine – to attract more guests while standing out in a crowded......
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01.01.26 - 00:39
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New Trump-Xi Showdown Approaches As Chinese Tankers Press Ahead To Venezuela Despite Blockade (ZeroHedge)
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New Trump-Xi Showdown Approaches As Chinese Tankers Press Ahead To Venezuela Despite Blockade
Two Chinese-flagged very large crude carriers are proceeding toward Venezuelan waters despite a U.S.-imposed blockade on sanctioned oil tankers, raising the prospect of heightened tensions between Washington and Beijing over Venezuela's crude exports.
Thousand Sunny oil tanker (photo: Tommy Chia)
Shipping data published by Lloyd's List on Tuesday shows the Thousand Sunny is expected to arrive at Venezuela's Jose Terminal in mid-January after rounding the Cape of Good Hope empty in the southern Atlantic, Newsweek reports. The vessel, which is not subject to U.S. sanctions, has historically transported Venezuelan Merey heavy crude to China. A second unsanctioned Chinese-flagged VLCC, the Xing Ye, is currently positioned off French Guiana, awaiting loading at the same terminal, Newsweek said.
Via Newsweek
Both the State Department and China's Foreign Ministry have remained mum on the vessels' moveme...
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