At a time when many western companies have quit Russia after Ukraine invasion, Chinese companies are planning to expand operations in Russia according to the latest reports. Chinese car maker Chery is in talks with Russian manufacturers about producing cars in Russian plants. Cherry also plans to increase sales from 80000 to 100000 this year […]
Tag: China
Sichuan Power Crisis Hits Production for Apple’s Supplier BOE
Signs of disruption in Apple’s manufacturing are being seen in China’s Apple supplier BOE technology group. BOE group announced it will make adjustments to its operations in Sichuan province in China due to power rationing there in the region. The company said it is in communication with executives and expects there will be no major […]
As COVID Restrictions Ease China’s July Auto Sales Surge By More Than 30%
China’s monthly auto sales have surprisingly risen despite COVID-19 related lockdowns still on in some cities. The China association of automobile manufacturers said that auto sales in July surged 29.7% from a year earlier to 2.42 million units. Despite a steep rise of nearly 30% from 2021, the sales figures failed to cross June’s numbers […]
U.S. Invests Billions to Compete with China Over Microchips
Amid a global shortage of microchips, U.S. president Joe Biden on Tuesday signed into law a multi-billion dollar bill to boost domestic production of semiconductors and research. This law will hope to counter fears that the country is losing its technological edge to China. The Chips and Science Act. provides around $52 billion to promote […]
Relief for China as Exports Gain Steam
China’s economy after being bruised by COVID led lockdowns, China’s export growth unexpectedly picked up speed last month. This comes as a relief also for the world’s second largest economy that is trying to gain some momentum now. Data shows China’s exports were up 18% in July to US$333 billion from last year at a […]
Covid -19 Strict Lockdowns In China Causes Alibaba’s Growth To Stall
Strict Covid-19 measures have started to affect the revenues of its technology firms now. E-commerce giant Alibaba group has reported flat quarterly revenue growth for the first in its history. Chinese e-commerce giant has enjoyed double digit revenue growth almost every quarter since it went public in 2014. The prospects of Alibaba group were hurt […]
Find Out Why China Is Facing Its Biggest Overseas Debt Crisis ?
China is now a bigger lender than the International Monetary fund, the World Bank and all members of the Paris club put together. China is seeing its first overseas debt crisis as so many of its overseas projects have failed. To countries such as Nigeria, Turkey, Ukraine, Pakistan, Sri Lanka, Argentina, Belarus, Egypt and Mongolia, […]
Despite of Multiple Production Delays Tesla Posts Solid Growth
Tesla announced this week that its second quarter revenue rose 42% over last year. Tesla also announced nearly 60% jump in adjusted earnings per share. These numbers come despite production disruptions in China because of the COVID lockdown and high costs associated with new production plants in Texas and Germany. Tesla sales are really strong […]
Midsize Chinese Venture Capital firms are scrambling for cash as foreign investors want to cash out
Investors all over the world have invested a lot of money in Chinese venture capital firms and this has helped in funding many tech start-ups. But now all the pension funds, sovereign bond funds are pulling back from China as they are worried about Chinese government’s crack downs on tech startups, more COVID lockdowns and […]
China’s Real Estate Headed for a Crash Amid Mortgage Boycotts
It was reported in China that the Chinese’s property prices fell for the 10th consecutive month highlighting the country’s spiraling real estate crisis and how the government’s efforts to revive the markets are failing. The China’s National bureau of Statistics reported that new home sales fell from a year earlier in 70 cities. There is […]