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Chinese developers further dropped spending on land purchases to RMB 29.6 billion in May, as the country faces a prolonged housing market downturn and a government push to reduce housing stock, reports Caixin. This month saw spending drop from RMB 63.3 billion in April and is 74% lower than in May 2023, according to China Index Academy. […]

Baidu will provide Tesla with its new mapping software for its Chinese electric vehicles (EVs), paving the way for the US carmaker to launch its Full Self Driving (FSD) system on the mainland, reports the South China Morning Post. Version 20 of Baidu Maps, the desktop and mobile web-mapping application, will soon be available on Tesla’s […]

China has set up a fund of around RMB 6 billion ($828 million) to stimulate solid-state battery development for electric vehicles (EVs), reports Caixin. The news comes as some domestic EV-makers have been trying to figure out the best pathway to commercializing potentially groundbreaking technology. Solid-state batteries, so-named for their use of solid electrolytes, are considered […]

China Cinda Asset Management is the most recent company to terminate its contract with PwC, following five other major firms who have cut ties with the company amid growing concerns about alleged financial fraud tied to China Evergrande, reports the South China Morning Post. The China Cinda has replaced PwC’s services with those of fellow “big […]

China Vanke’s contracted sales rose 11.3% to RMB 23.3 billion in May as it resumed investments in new projects after getting bank funding and a possible boost from Beijing’s stimulus policies for the real estate sector, reports the South China Morning Post. For the first five months this year, it had transacted sales of RMB 102.2 billion […]