The southern Chinese industrial stronghold of Guangdong plans to abolish state-set electricity rates for industrial and commercial users, Bloomberg reports. Industrial users requiring high-voltage electricity will have to acquire their power through public auctions at market prices from now on, according to the report. These new regulations would not apply to agricultural power users and […]
According to an analysis by China International Capital (CICC), China could soon impose higher taxes on luxury goods. The bank estimates that the currently discussed excise duties reform will also lead to higher taxes on products that have high power demand or contribute to environmental degradation, as Bloomberg reports. The tax reform is intended to […]
China plans to scrutinize the safety of EVs and other vehicles with alternative propulsion systems (NEVs) more closely in the future. That is according to a proposal on new industry guidelines released by the Ministry of Industry and Information Technology on Wednesday. Manufacturers of NEVs will be required to bolster their safety monitoring and management […]
More than half of all Chinese provinces are currently rationing access to power. The power crisis affects millions of people, who sometimes sit in the dark for hours and cannot charge their mobile phones. In some cities, people were stuck in elevators and traffic lights failed.The economy is also groaning under the power shortages. In […]
Volkswagen sold 47,200 e-cars in China in the first nine months. This represents a significant increase in sales in the third quarter of 2021, after only just over 18,000 e-cars were sold in the first half of the year. “We were able to significantly accelerate the market ramp-up in China in the third quarter and […]
China is trying to alleviate the country’s energy crisis by importing more coal from Russia, Mongolia, and Indonesia. In Heilongjiang, on the border to Russia, rail infrastructure has been improved to allow increased coal transport. A Russian diplomat in Harbin said, according to media reports, that coal exports to Heilongjiang province had fallen by 40 […]
According to estimates, more than 600 million surveillance cameras are keeping an eye on China’s public. One company that particularly benefits from this is SenseTime. The tech company supplies the police with image recognition and analysis software, enabling authorities to digitally track passers-by and road traffic across the city. China’s most valuable artificial intelligence company […]
Producer prices in China rose 10.7 percent in September compared to last year, according to China’s National Bureau of Statistics. This is the highest increase for products like raw materials and manufactured goods since the first data collection in late 1996. Producer prices indicate the prices of goods before further processing or market entry. High […]
China’s energy crisis sometimes produces the most curious news. According to media reports, some suppliers are currently running short of power generators. More and more factory owners are buying diesel generators. Due to the rationing of electricity in recent weeks, they are running out of options. Some European companies are also taking this route, according […]
CATL is planning the construction of a recycling plant for EV batteries and wants to invest the equivalent of up to five billion USD, Reuters reports. The plant is to be built in the central Chinese city of Hubei and will recover raw materials such as lithium and cobalt. Just a few weeks ago, CATL […]