Major carmakers in China have launched a new wave of price cuts and financing incentives immediately after the Spring Festival holiday, reports Caixin. Manufacturers aim to clear excess inventories as sales slow in the world’s largest auto market. SAIC General Motors’ Buick brand said Thursday that it would lower prices on multiple models by RMB 5,000 […]
Category: Markets
Amid intensifying competition among Chinese electric-vehicle (EV) makers last year, relatively inexpensive models from Geely Auto and Wuling Motor Holdings topped the sales chart, reports the South China Morning Post. Sales from the two companies surpassed those from BYD and Tesla. In 2025, Geely sold more than 459,000 units of the Xingyuan EV–priced between RMB 68,800 […]
China’s central bank set the yuan’s daily fixing rate at its strongest level since mid-2023 on Wednesday, reports the South China Morning Post. This comes as the Chinese currency extended gains with investors increasingly rotating out of US dollar assets amid concerns over the Federal Reserve’s independence and US debt sustainability. The People’s Bank of China […]
China’s domestic auto market saw sales drop 14.8% from a year earlier in January, reports Caixin. This comes as the industry grappled with a shift in government support policies. Total domestic sales fell to 1.665 million vehicles last month, down 33.9% from December, the China Association of Automobile Manufacturers (CAAM) said Wednesday. Domestic new-energy vehicle (NEV) […]
Semiconductor Manufacturing International Corporation reported a 12.8% increase in fourth-quarter revenue, reports Caixin, though net profit declined as heavy spending on capacity expansion weighed on earnings. China’s largest chip foundry posted revenue of $2.49 billion for the three months ended December, according to a Tuesday earnings release. Net profit fell 24.9% from a year earlier to […]