1.From January to September, profits of industrial companies above 20mn revenue fell by 9.0% During the first 3 quarters, large-scale industrial companies (above CNY 20mn revenue) achieved business revenue of CNY 96.35 trillion (approximately $13.17 trillion), same as last year. Operating costs reached CNY 81.96 trillion (approximately $11.2 trillion), up 0.3%. During the first 3 […]
1.US Approves equipment exports to S. Korean chip factories in China The Biden administration has granted Samsung Electronics and SK Hynix permission to acquire the necessary equipment to maintain and grow their chip-making operations in China. This move provides these companies, the world’s largest memory makers, an indefinite waiver from the broader restrictions that previously […]
BRICS has announced its expansion by inviting six countries to join In a landmark move on the morning of August 24th, leaders at the fifteenth BRICS summit unveiled a significant expansion of the organization. Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates have been invited to join the BRICS cooperation framework. 15th […]
1. In the first half of 2023, profits of industrial companies above 20mn revenue fell by 16.8% In the first half of 2023, large-scale industrial companies (above CNY 20mn revenue) achieved business revenue of CNY 62.62 trillion (approximately $8.76 trillion), down 0.4% year-on-year. Operating costs reached CNY 53.37 trillion (approximately $7.46 trillion), up 0.5%. In the […]
1. Audi and SAIC formulate strategic partnership to fast-track Electrification amid rapid market shift in China On 20th April, in a significant move towards sustainable mobility, Audi confirmed a strategic partnership with China’s state-owned SAIC Motor Corp. Both entities are committed to expedite the electrification of their automotive portfolio, aligning with the rapid transition towards electric […]
1. BYD to invest US$620 million for 3 factories in Brazil, to produce affordable vehicles and batteries for local markets BYD, the world’s largest electric vehicle (EV) maker, has announced its plans to make a strategic investment of US$620 million in the establishment of an industrial complex in Bahia state, northeastern Brazil. This ambitious project, which […]
What does the Auto Industry and Mobile Industry have in common? They are both gigantic, the global automotive market is around 2.9 trillion USD, while the global mobile phone market is around 0.5 trillion USD. They both have some of the most iconic brands in the world, like Apple, Samsung, Huawei or BMW, Tesla, Toyota. […]
In 2022, the Chinese Auto Market recorded another year of positive growth after 3 consecutive years of decline since 2017. Although growth in 2022 was limited, it’s still a remarkable achievement considering the microchip crisis, COVID crisis and higher battery costs in the year. However, the Chinese Auto Market is hugely complicated with more than […]