CX Daily: Huawei’s ‘Will They or Won’t They’ Relationship With Automaking

Huawei /

In Depth: Huawei’s ‘will they or won’t they’ relationship with automaking

Huawei Technologies Co. Ltd. repeatedly dismissed speculation that it wants to be China’s Tesla challenger. But its deep collaborations with automakers may justify such speculation, industry insiders say.

Since April, Huawei has established partnerships with automakers BAIC BluePark New Energy Technology Co. Ltd., Chongqing Sokon Industry Group Co. Ltd., Chongqing Changan Automobile Co. Ltd. and GAC Group to help them build sub-brands by using Huawei’s autonomous driving technology.

At the Shanghai Auto Show last April, Sokon and Huawei unveiled the Seres SF5, featuring components and a smart cockpit system developed by Huawei. Branded as “Huawei Smart Selection,” the model is sold in Huawei’s flagship smartphone stores across the country.

FINANCE & ECONOMY

Bank loans to fund low-cost rental projects will no longer be subject to regulatory curbs, the People’s Bank of China said Tuesday

Property /

China eases property loan curbs as housing market slumps

China eased a year-long cap on loans for the real estate sector to fund public rental housing in the latest bid by authorities to tackle a slumping property market.

Bank loans to fund low-cost rental projects will no longer be subject to regulatory curbs, the People’s Bank of China said Tuesday in a statement (link in Chinese). The rules required banks to trim their loan exposure to the property sector to a certain level.

China’s developers see little change in fortune over New Year holiday

Standards /

China to issue sweeping standards for fintech, digital currency

China’s regulators outlined plans to establish sweeping new standards for the financial industry, covering digital currency, cross-border yuan settlements, green finance and fintech.

The People's Bank of China, the State Administration for Market Regulation, the China Banking and Insurance Regulatory Commission, and the China Securities Regulatory Commission jointly issued a development plan Tuesday to standardize the financial industry during the 14th Five-Year Plan period between 2021 and 2025.

Funds /

Veteran Chinese investment manager found dead in Shanghai river

Gao Shan, a veteran securities investor who was the controlling shareholder of Shanghai Huan Yi Investment Management Co. Ltd. (上海环懿私募基金管理有限公司), a private fund management company, was found dead in a river in Shanghai more than 20 days after he disappeared, Caixin learned.

A man’s body was recovered from a section of the river in the city’s Pudong New Area Feb. 2, sources with knowledge of the matter told Caixin. Police later confirmed the body was Gao’s, who went missing on the evening of Jan. 10 while out running. The police are conducting further investigations into his death, the sources said.

Hong Kong /

Hong Kong vegetable prices surge as Covid curbs disrupt deliveries

Vegetable prices surged in Hong Kong as the neighboring mainland city of Shenzhen tightened testing rules for cross-border truck drivers after five of them tested positive for Covid-19 between Friday and Monday.

The rules including testing and quarantine cut the supply of vegetables to Hong Kong, which relies heavily on the truckers to bring in fresh vegetables from the mainland every day.

Quick hits /

Analysis: China’s holiday spending doesn’t bode well for 2022

PBOC official blasts ‘illegal’ cross-border brokers

BUSINESS & TECH

A steel mill in Yangjiang city, South China's Guangdong province on April 26, 2021. Photo: VCG

Steel /

China’s steel industry given five more years to peak carbon emissions

China scrapped an ambitious push for its steel industry to peak carbon emissions by 2025, pushing the deadline back five years in final guidelines published this week.

The steel sector — the country’s second-largest industrial carbon emitter — will now have until 2030 to peak those emissions, in line with China’s broader national target.

The guidelines (link in Chinese) were jointly published Monday by the Ministry of Industry and Information Technology, the environment ministry and the top economic planner. A draft released over a year ago said the sector would aim to “reach its carbon peak as early as 2025.”

Food /

State food giants to consolidate overlapping businesses

China advanced the restructuring and consolidation of its two largest state-owned agriculture companies by setting up two joint ventures to take control of overlapping businesses.

State-owned grain giant Cofco Corp. and national grain stockpiler China Grain Reserves Group, also known as Sinograin, signed agreements on the ventures last month, according to a report Monday by a media outlet backed by the State Council’s State-owned Assets Supervision and Administration Commission of the (SASAC).

C919 /

Deliveries of China’s challenger to Boeing 737 set for this year

Deliveries of China’s home-grown C919 narrow-body passenger jet is expected this year after several delays, despite a tight schedule for regulatory certifications and uncertainties related to U.S. trade bans.

He Dongfeng, chairman of C919 developer Commercial Aircraft Corp. of China (COMAC), laid out the 2022 delivery schedule for the plane Monday in an internal meeting, according to minutes published by the state-owned aircraft maker.

Mascots /

Beijing Olympics mascot sparks buying frenzy after going viral

Souvenirs of the Beijing Winter Olympics’ panda mascot sparked a buying frenzy and speculative activity in China, selling for as much as nine times their retail price even amid sluggish general consumer spending.

Since the end of January, the Olympic mascot, “Bing Dwen Dwen (冰墩墩)” sparked a buzz on China’s major social media platforms WeChat and Weibo.

With ads and news putting the spotlight on the Olympics before and after the Friday opening ceremony, the mascot’s likeness has been sealed into the public consciousness, with fans of the mascot gushing about the plush toy’s cute design and egg-shaped suit of “ice.”

Quick hits /

Full Text: People’s Daily editorial on setting up ‘traffic lights’ for capital expansion

Iron ore sinks after China warns over false price information

Foxconn to produce EVs with Thai energy group from 2024

GALLERY

Popular Olympics mascot creates DIY frenzy

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