Chinese electric car company Nio launched its lower-cost brand Onvo on Wednesday, May 15, 2024, in Shanghai, China. CNBC | Evelyn Cheng HEFEI, China — There’s yet another Chinese electric car aiming to undercut Tesla, with a steeper discount. Onvo, the lower-priced brand launched by premium electric car company Nio, announced its first car, the … Read more
Cryptocurrency exchange Binance has seen a 40% increase this year in institutional and corporate investors joining the platform, CEO Richard Teng told CNBC’s Lin Lin in an interview Wednesday. “Allocation into crypto by institutions is just at the tip of the iceberg. It’s just beginning, because a lot of them are still doing their due … Read more
Local governments in China are still building highways, bridges and railways, as pictured here in Jiangxi province on Sept. 6, 2024. Cfoto | Future Publishing | Getty Images BEIJING — China’s persistent consumption slowdown traces back to the country’s real estate slump, and its deep ties to local government finances — and debt. The bulk … Read more
Pictured here is a shopping mall in Hangzhou, China, on Sept. 9, 2024. Nurphoto | Nurphoto | Getty Images BEIJING — China’s retail sales, industrial production and urban investment in August all grew slower than expected, according to National Bureau of Statistics data released Saturday. Retail sales rose by 2.1% in August from a year ago, missing expectations … Read more
A banner plays up China’s trade-in policy at a home goods expo in Qingdao, Shandong province, China, on June 1, 2024. Nurphoto | Nurphoto | Getty Images BEIJING — China’s plan to boost consumption by encouraging trade-ins has yet to show significant results, several businesses told CNBC. China in July announced allocation of 300 billion … Read more
A Chinese flag flutters on top of the Great Hall of the People ahead of the opening ceremony of the Belt and Road Forum (BRF), to mark 10th anniversary of the Belt and Road Initiative, in Beijing, China October 18, 2023. Edgar Su | Reuters BEIJING — European businesses in China have grown so discouraged … Read more
Kai-Fu Lee, chairman and chief executive officer of Sinovation Ventures, speaks during the HICOOL Global Entrepreneur Summit on September 11, 2021 in Beijing, China. China News Service | China News Service | Getty Images BEIJING — Chinese artificial intelligence models may be at least half a year behind those developed in the U.S., but Chinese … Read more
Richard Yu, a Huawei executive director overseeing consumer products, reveals the price for the company’s trifold Mate XT smartphone on Tuesday, Sept. 10, 2024. Screenshot BEIJING — Chinese smartphone company Huawei said Tuesday its trifold smartphone will start at the equivalent of more than $2,800. The phone began pre-orders on Saturday and is set to … Read more
A cargo ship carrying containers is seen near the Yantian port in Shenzhen, following the novel coronavirus disease (COVID-19) outbreak, Guangdong province, China May 17, 2020. Martin Pollard | Reuters BEIJING — China’s exports rose by 8.7% year-on-year in U.S. dollar terms in August, according to the customs agency. That was higher than the forecast … Read more
Huawei is planning to release a three-fold smartphone on Sept. 10, just hours after Apple’s scheduled new iPhone launch. Cfoto | Future Publishing | Getty Images BEIJING — Huawei has received more than 2.7 million pre-orders for its tri-fold smartphone, its website showed on Monday. The Chinese company began pre-orders for its Mate XT midday … Read more
