China chip output down 17% in Jan, Feb
China’s integrated circuit (IC) output dropped 17% in the first two months of 2023, as the country’s semiconductor industry grappled with economic headwinds and escalating US trade sanctions, reports...
View ArticleChina industrial profits slump so far in 2023
The slump in Chinese industrial firms’ profits deepened in the first two months of 2023, weighed by lacklustre demand and stubbornly high costs as the world’s second-largest economy struggled to fully...
View ArticleBYD posts record quarterly profits
BYD, the world’s largest electric vehicle (EV) maker, posted record quarterly profit as mainland Chinese buyers lapped up its affordable models, lifting earnings 12 times, reports the South China...
View ArticleSMIC posts record revenue
China’s top chip foundry Semiconductor Manufacturing International Corp (SMIC), which has been on a US trade blacklist for more than two years, said it posted record revenue and profits for 2022,...
View ArticleFactory activity falters in March
China’s sprawling manufacturing sector, accounting for a third of the world’s second-largest economy by value, lost momentum in March amid still-weak export orders, tapping the brakes on the country’s...
View ArticleShanghai offers cash awards for hi-tech manufacturing projects
Shanghai is offering cash awards of up to RMB 100 million ($14.53 million) to attract manufacturing projects in key sectors such as artificial intelligence and biotechnology, in a bid to reignite...
View ArticleTesla to set up Megapack factory in Shanghai
Tesla is opening a factory in Shanghai, capable of producing ten thousand Megapack energy product per year, to supplement output of Megapack factory in California, the company said in a tweet on...
View ArticleGeopolitics cause companies to consider production outside of China
One of China’s biggest water-heater manufacturers said its US clients had demanded it move production out of China in response to rising geopolitical tensions, reports the Financial Times. Lu Yucong,...
View ArticleFoxconn sets up global business base in China
Foxconn Technology Group has opened a new global business base in central China’s Henan province, where the Taiwanese company already runs the world’s largest iPhone plant, as it reaffirms its...
View ArticleChina industrial profits drop again
Profits at industrial firms in China continued to plunge in the first three months of the year, as a pickup in factory production failed to offset a further decline in prices, reports Caixin....
View ArticleBeiqi Foton Motor plans second plant in Mexico
Chinese truckmaker Beiqi Foton Motor Co. is planning a second plant in Mexico to manufacture electric vehicles with an eye on US exports, reports Bloomberg. The plant’s location has yet to be decided,...
View ArticleChina manufacturing shrinks unexpectedly in April
China’s manufacturing activity unexpectedly shrank in April, official data showed on Sunday, raising pressure on policymakers seeking to boost an economy struggling for a post-COVID lift-off amid...
View ArticleHozon to make EVs in Thailand
China’s Hozon New Energy Automobile Co. will start production in Thailand to sell in Southeast Asia, becoming the latest electric vehicle maker to begin building a supply chain in the region’s top...
View ArticleChina industrial output, consumer spending fall short
China’s industrial output and consumer spending have fallen short of expectations, fuelling doubts over the strength of the country’s rebound after it dismantled its zero-COVID policy, reports the...
View ArticleBYD sets up new autonomous driving unit
BYD, China’s biggest electric vehicle maker, has set up a new autonomous driving division and embarked on a huge hiring spree, reports Reuters. Between 4,000 and 5,000 software engineers have been...
View ArticleChina planning new EV, robots industrial cluster
China plans to build world-class advanced factory clusters in the Beijing-Tianjin-Hebei region focused on products such as electric vehicles and robots, it said on Tuesday, as the country seeks to...
View ArticleShein planning Mexico factory
Online fashion giant Shein is exploring plans to build a factory in Mexico, as one of its manufacturing hubs outside China, reports the South China Morning Post. The factory, which will produce Shein...
View ArticleBYD preliminarily agrees to build plant in Indonesia
BYD, the world’s largest electric vehicle (EV) maker, backed by Warren Buffett’s Berkshire Hathaway, has taken a step towards building its second assembly plant in Southeast Asia by signing a...
View ArticleFoxconn raises pay and bonuses at main iPhone site
Apple supplier Foxconn Technology Group has raised the pay and bonus packages for new recruits working at the world’s largest iPhone factory in Zhengzhou, capital of central Henan province, several...
View ArticleChina May manufacturing stabilizes
Two surveys suggest China’s manufacturing sector improved or at least stabilized in May compared with the previous month, providing some respite following signs of a slowdown in the economy’s recovery,...
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