In China, subsidies for zero-emission energy sources are running out – which promptly drags down global statistics. Global growth in renewable power generation capacity will decline slightly in 2021, the International Energy Agency (IEA) reports. According to the report, 270 gigawatts of new capacity will be installed this year, down from a previous record of […]
Tesla has halted plans to expand its Shanghai factory for now. The company will not buy land to expand the factory into a global export hub for the time being, Reuters reports. According to the report, the decision was based on tensions between China and the US and the additional 25 percent tariffs on cars […]
Green financial investments are one of the central future topics. Billions in investment are needed to transform the economy from fossil fuels toward climate-friendly production and consumption patterns. Beijing also recognized this: To attract more funding from international investors, the central bank wants to align standards for green investments and projects between the EU and […]
Electrical contract manufacturer Foxconn has announced the formation of a semiconductor joint venture with Yageo, another Taiwanese component manufacturer. The focus will be on making small integrated circuits that cost less than two dollars, Foxconn said. The joint venture’s chips will be used in Foxconn products but sold to international customers, too. Furthermore, the two […]
Volkswagen achieved one of the best first quarters in its history despite the lack of chips. Wolfsburg-based carmaker’s sales rose to €62.4 billion. Profits rose from half a billion to €3.4 billion. The positive start to the year was mainly due to good business in China. Compared with the same period last year, sales figures […]
A 20-ton piece of Chinese Long March rocket wreckage is about to make an uncontrolled re-entry back into Earth’s atmosphere in the coming days. It is unclear where and when the rocket debris will crash. The rocket was launched into space a few days ago to initiate the construction of the Chinese space station “Tiangong – Heavenly Palace” (China.Table […]
US Commerce Secretary, Gina Raimondo, is pressing Taiwan to prioritize supplying chips to the US auto industry. “We’re working hard to see if we can get the Taiwanese and TSMC, which is a big company there, to, you know, prioritize the needs of our auto companies since there’s so many American jobs on the line,” […]
China passed a law against food waste. The law provides for fines of up to the equivalent of €12,500 and targets restaurants that incentivize their customers to order too much, as well as food producers and retailers that waste food. The law also targets internet users who upload videos of food binges, according to several […]
China is conducting a series of maneuvers with its 2019 commissioned aircraft carrier Shandong in the South China Sea. The exercise was described as routine training, Reuters reports. A spokesman for the armed forces said the Chinese navy would continue to go through its military exercises on schedule. The People’s Liberation Army already announced last […]
Undercover as a delivery boy – Wang Lin, the deputy director of the Labor Relations Department of the Beijing Municipal Bureau, worked undercover for a day as a delivery boy for Meituan and was accompanied by a television station. After the 12-hour shift, during which he earned the equivalent of just over $6, he said, according […]