Tesla, NIO forced to suspend some charging stations in China

Economy 08/29/22, 19:25

China has extended the curbs on power consumption due to the worst heat wave in 60 years. As a result, automakers, including U.S. Tesla Inc. and Chinese NIO Inc., had to suspend some of their charging facilities. As Apollo News reported, the power crisis is affecting numerous sectors in China, including ...

Three major Chinese airlines purchased 292 Airbus aircraft for $250 billion

Economy 08/29/22, 18:55

According to Tencent, on August 24, China Southern Airlines, China Eastern Airlines, and Air China announced successively that they agreed to purchase Airbus A320NEO series aircraft.  Among them, China Southern Airlines purchased 96 aircraft with a basic price of nearly $12 billion (about 82 billion yuan.) Eastern Airlines purchased 100 aircraft with ...

Honda, Mazda consider to shift production out of China: Report

Economy 08/29/22, 18:48

According to Reuters, Honda is considering building a different supply chain outside China in a move to reduce its dependence on the world's second-largest economy.  The news outlet cited the Japanese newspaper Sankei reported on Wednesday, August 24, about the significant move from the Japanese automaker.   As reported by Reuters, about 40% ...

China’s auto star is bankrupt, owing more than $7 billion in wages

Economy 08/29/22, 17:50

In July, Changjiang Automotive, once known as "Asia's largest" new energy vehicle factory, officially went bankrupt, exposing the story of the development of China's new energy vehicle industry. Massive subsidies from the Chinese Communist Party have led many to jump into the industry. However, there is too much fraud, which ...

Is China deliberately knocking down the yuan?

Economy 08/29/22, 15:16

The woes of the Chinese economy such as the real estate bubble and public debt  are increasingly revealed by the COVID-19 pandemic, making the CCP "thirsty" for cash. Observers think it is possible that the CCP deliberately crashed the yuan, but specifically for what purpose? To enhance the picture of "economic ...

A brief look at China’s economic coercion: German study

Economy 08/27/22, 17:56

The vast Chinese market can be enticing, but businesses with it may require lowered heads and bent values.  A survey by German think tank MERICS determines at least 123 cases of China’s economic coercion between February 2010 and March 2022. However, the group emphasizes that the actual figures could be higher. Known ...

China’s Maotai mooncakes say farewell to sky-high prices

Economy 08/27/22, 16:18

The price of Maotai mooncakes in China has been reduced sharply this year, but it is still almost impossible for people on a budget of less than 500 yuan ($73) a month to buy them. This year's Mid-Autumn Festival falls on September 10, but as early as July 1, Maotai International ...

High temperatures in China reach record levels

Economy 08/27/22, 13:19

For the past two months, extreme heat and droughts have been plaguing several regions of China, including the Yangtze river region. According to the scientific journal New Scientist, the extreme temperatures were the highest in the history of climate records.  The hot weather and lack of rainfall are seriously impacting the ...

Xi Jinping’s worst fears that may keep him awake at night

Insights 08/26/22, 18:18

For several years, veteran journalist Pierre Donnet has followed Asia closely, focusing on China. A retired AFP journalist, Pierre-Antoine Donnet is the author of more than fifteen books on China, Japan, Tibet, and other topics in Asia. In 2020 he published the book titled Le leadership mondial en question, L'affrontement entre ...

How critical is China’s budget shortage?

Economy 08/26/22, 17:19

The hidden debts of Chinese local governments has continuously broken records in recent times. Up to half of them have fallen into financial distress and are waiting for financial support from the central government. The banking system, as a matter of fact, has also fallen into crisis. It all stems ...