China’s economy showed signs of further momentum loss in November, with ongoing caution in consumer spending exacerbating pressures from the the floundering property sector, reports the Financial Times. Retail sales, a main gauge of consumption, rose only 3.9% year-on-year in November, well below economists’ forecasts of 4.7%. A small improvement in industrial activity, which grew […]
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Guaranteeing the security of food, energy and industrial supply chains, and leveling out prices are some of the main tasks for China’s top economic planning agency through 2022, reports Caixin. The commitments, set out by the National Development and Reform Commission (NDRC), follow warnings by Beijing that supply shocks are one of the three main […]
Chinese electric-vehicle (EV) manufacturer Xpeng has announced that over 430,000 wrongfully taken photos of people in its showrooms have been deleted, having been given a RMB 100,000 ($15,706) fine for their collection in early December, reports Caixin. Xpeng admitted to “unfamiliarity with certain laws” and making incorrect decisions when buying equipment, while also saying that […]
Chinese mobile phone manufacturer Oppo announced its new foldable smartphone that costs over $500 less than the current market leader Samsung’s Galaxy Fold, reports Bloomberg. The Oppo Find N has a 7.1-inch inner display co-developed with its Korean rival and an exterior 5.5-inch screen. Oppo says it has almost no crease in the inner fold, […]
Beijing has been increasingly taking minority stakes in private companies beyond those involved in online news and content, moving into firms that are dealing with large amounts of data, reports Reuters. According to two people familiar with the matter, Beijing has made a de facto special management stake or “golden share” arrangement with Full Truck Alliance, […]