China has taken the lead in the global race for innovative reactor designs. According to Chinese media reports, the world’s first fourth-generation reactor went online in Shidao Bay in the province of Shandong. It is a high-temperature reactor – the same technology that Germany tested in the 1980s and subsequently abandoned.The new Chinese reactor, designated […]
The EV boom in the Chinese market is putting the once-dominant international car manufacturers under increasing pressure. Japanese manufacturers Nissan and Honda are the most recent examples of this change, in which the combustion engine is rapidly losing importance in the world’s second-largest car market.As the Japanese business newspaper Nikkei reports, both companies plan to […]
After the mass market, the world’s largest EV manufacturer BYD now wants to conquer the luxury segment. The Shenzhen-based company is already accepting orders for the Yangwang U9 electric super sports car. The price is 1.68 million yuan, around 215,000 euros. BYD announced on Weibo that a deposit of 300,000 yuan is required to reserve […]
Party leader Xi Jinping will be able to exert even more influence on the actions of the Chinese government than before. At the end of the National People’s Congress in Beijing, the delegates passed the new version of a law regulating the authority of state bodies, giving the Communist Party more control over the State […]
China’s chief diplomat Wang Yi used his annual press conference on the sidelines of the People’s Congress to attack Washington’s policies – while extending an olive branch to Europe. Wang said on Thursday of imposing an insane level of trade restrictions on China.“The US has been devising various tactics to suppress China and kept lengthening […]
Despite an ambitious growth target of “around five percent” and aid promises for the struggling real estate sector, the annual government report at the start of the People’s Congress in Beijing failed to lift the mood in China’s economy. The markets’ initial reaction to the government plans for this year presented by Premier Li Qiang […]
A freighter from the Chinese EV manufacturer BYD will dock in the German port of Bremerhaven for the first time this Monday. The ship is expected to deliver around 3,000 vehicles on its first voyage, according to an invitation from the seaport and logistics company BLG Logistik, which operates the car terminal in Bremerhaven and […]
Direct investments by German corporations in China reached a new high last year, contrary to the general trend. According to the Bundesbank, German investments rose by 4.3 percent to 11.9 billion euros.In stark contrast, the figures released by the Chinese State Administration of Foreign Exchange (Safe) on Sunday paint a different picture. According to them, […]
China’s stock markets have gotten off to a restrained start into the Year of the Dragon. On the first day of trading in the new lunar year, Chinese mainland markets gained slightly. The Shanghai benchmark index, CSI 300, rose by 1.2 percent on Monday, while the Shenzhen Component Index climbed by 0.9 percent.However, analysts expressed […]
The tense economic situation in China continues to impact the income of the Chinese middle class. The average wages companies offered new employees in 38 major Chinese cities fell by 1.3 percent year-on-year to 10,420 yuan (1,458 US dollars) in the fourth quarter of 2023. This is according to data from Zhaopin, China’s largest online […]