China’s Dongfeng Motor is in talks with an investor about producing passenger cars in Turkey, reports Reuters, citing the company’s Turkish distributor. Turkey, with annual sales of 1.4 million vehicles, is a relatively large market and has custom free trade with the EU. Car imports to Turkey from China are subject to extra taxes and Chinese […]
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Furniture falls
Ikea has announced it will close seven of its 41 stores across China as it looks to shift to small-format outlets catering to a more targeted market. The move comes amidst low consumer spending and a weak property market. Ikea as a brand is in many ways symbolic of the aspirations both of China’s middle […]
China’s revenue from residential land sales fell about 65% in 2025 from its 2020 peak, reports Caixin. Even state-backed investment vehicles have scaled back as a result of the ongoing property downturn. Data from the China Index Academy show that while the rate of decline narrowed slightly from the previous year, the contraction remains severe. The […]
Hesai Group, the world’s largest maker of vehicle “lidar” sensors, has struck a partnership with US chip giant Nvidia to help develop an autonomous driving platform, reports the South China Morning Post. The move comes as the Shanghai-based firm pushes its global expansion. Hesai said that its light detection and ranging (lidar) sensors–which use laser beams […]
Shanghai has announced a slew of new investments worth RMB 70 billion ($10 billion) in hi-tech industries ranging from chips to artificial intelligence and aviation, reports the South China Morning Post. Shanghai is the latest Chinese city to unveil ambitious plans to boost local innovation amid an intensifying US-China tech race. The city’s Pudong district unveiled […]