Xiaomi’s SU7 – short for Speed Ultra 7 – enters a crowded China EV market with an attention-grabbing price tag – under US$30,000 for the base model, cheaper than Tesla’s Model 3 in China. While the world’s largest auto market is challenging for newcomers due to a cut-throat EV priceContinue Reading
Trading in debt-ridden Chinese property developer Country Garden was suspended in Hong Kong on Tuesday (Apr 2), days after it postponed the release of its 2023 results. The firm is among a number of China’s largest developers battered by a crisis in the country’s property sector and struggling under aContinue Reading
BEIJING: China Southern Airlines on Monday (Apr 1) launched its first flight between Beijing and Macau and said it plans to add 17 international routes, in a sign it expects a pick-up in international travel this year. The airline said at an event in Beijing the routes would be launchedContinue Reading
TECH CAN HELP FARMERS FACING SOARING TEMPERATURES To combat the rice shortfall, Indonesian President Joko Widodo last year drafted in the military to help with planting and subsidised fertiliser distribution. Acknowledging the pressures from rising rice prices to consumers and the more than 15 million households that grow food, theContinue Reading
HONG KONG: Country Garden, China’s largest private property developer, delayed the publication of its 2023 financial results on Thursday ( Mar 28 ) saying it needed to collect more information to make appropriate accounting estimates and judgements. The working environment the party is dealing with is becoming more and moreContinue Reading
The Industrial and Commercial Bank of China ( ICBC ) announced on Thursday ( Mar 28 ) that it would support efforts being made to stabilize the second-largest economy of the world. The comments were made by Wang Jingwu, a vice president at the nation’s largest lender, at a pressContinue Reading
WHAT HAPPENS FIRST? When Chinese authorities repeatedly state that they are” stand ready to act quickly” against speculative actions, it is a sign that intervention is on the way. Trading partners see price checking by the BOJ as a potential precursor to intervention, as evidenced by calls from central bankContinue Reading
despite modest improvements in the country’s economy and a more lenient attitude of regulators toward the tech sector, Chinese internet giant Tencent on Wednesday ( Mar 20 ) posted its lowest annual profit since 2019. Tencent’s total net profit for 2023 stood at 115.2 billion yuan ( US$ 16.0 billionContinue Reading
Malaysia’s central bank called for an acceleration of structural reforms on Wednesday ( Mar 20 ), with the country’s economy expected to benefit from a rebound in exports and robust domestic spending this year. In documents released along with its annual review, Bank Negara Malaysia claimed that favorable economic conditions,Continue Reading
China: China’s stock output increased between January and February, beating expectations, making it a strong start for 2024 and providing some temporary relief to policymakers looking to resurrect stagnant economic growth. In the first two months of the year, industrial output increased by 7.0 percent, according to data released byContinue Reading