China on Wednesday announced an extension of a purchase tax break on new energy vehicles (NEVs), a new pillar of the economy whose muted recovery has seen market watchers calling for more stimulus, reports Reuters. The purchase tax on NEVs bought between January 1, 2024 and the end of 2025 will be exempted, with the amount […]
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Alibaba is replacing Daniel Zhang as chief executive and chair of the Chinese ecommerce giant, with a top lieutenant to its former boss Jack Ma set to take the reins, reports the Financial Times. Eddie Yongming Wu, an Alibaba co-founder and chair of Alibaba’s flagship ecommerce sites Taobao and Tmall, will replace Zhang as chief […]
China is now poised to overtake Egypt and Turkey as the biggest buyer of wheat in the year through June, Chinese and US official data show, reports Bloomberg. Purchases exceeded 12 million tons in the first 11 months of the marketing year, which runs through June. More than half of those cargoes were supplied by Australia. […]
China agreed another decades-long liquefied natural gas deal with Qatar in a further move to safeguard its energy security, reports Bloomberg. China National Petroleum signed a 27-year LNG purchase agreement for 4 million tons annually with QatarEnergy on Tuesday. Supply will begin in 2026 and CNPC will take a 5% equity stake in a production […]
The US and China have made “progress” towards stabilising plunging bilateral relations, China’s leader Xi Jinping declared on Monday as he held a long-delayed meeting with US secretary of state Antony Blinken, reports the Financial Times. Xi’s comments represent the strongest signal yet that Beijing is willing to consider a truce in its increasingly acrimonious […]