Chinese electric vehicle maker Li Auto Inc. will recall 11,411 units of its 2024 MEGA model starting Nov. 7, following a vehicle fire incident in Shanghai, China’s market regulator announced Friday, reports Caixin. The State Administration for Market Regulation said Li Auto filed the recall voluntarily under China’s auto defect recall regulations. The move came […]
Category: Brief
China and the US have agreed to suspend newly announced export restrictions for one year, pausing an escalating trade dispute that had threatened to disrupt global supply chains for critical minerals and unsettle international markets, reports Caixin. The agreement followed an Oct. 30 meeting between Chinese leader Xi Jinping and US President Donald Trump in […]
Categories
BYD profit falls 33%
BYD’s profits declined 33% in the third quarter, highlighting the urgency of the Chinese electric vehicle maker’s overseas push following Beijing’s campaign against aggressive competition in the domestic sector, reports the Financial Times. BYD has become the world’s largest and fastest-growing producer of EVs and the chief global rival to Elon Musk’s Tesla. But the third-quarter […]
Categories
Pop Mart opens first Qatar store
Chinese toymaker Pop Mart, maker of the Labubu monster dolls, is expanding into the Middle East with the opening of its first store in the region, marking a significant milestone in its international growth, reports the South China Morning Post. Launched in partnership with Qatar Duty Free (QDF), the new store is situated in the […]
Categories
China overhauls duty-free sector
China is rolling out a sweeping overhaul of its duty-free retail sector, expanding the range of goods and promoting domestic brands in a bid to stimulate consumption and lure back spending from abroad, reports Caixin. The new rules, jointly issued by five government bodies including the Ministry of Finance, are set to take effect from […]