Business Brief (Sept. 29): China to Require Export Licenses for Pure-Electric Passenger Cars
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China to require export licenses for pure-electric cars
China’s Ministry of Commerce will require exporters of pure-electric passenger vehicles to obtain a license starting Jan. 1, 2026. Without a license from the relevant authorities, companies will be unable to export these vehicles. In the first eight months of 2025, pure-electric passenger cars accounted for about 28.1% of China’s total vehicle exports.
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- China will require export licenses for pure-electric car exports from Jan. 1, 2026, with these cars making up 28.1% of exports in early 2025.
- Major Chinese industrial firms' profits rose 20.4% in August 2025, and Hong Kong will launch a new 100 billion yuan funding scheme to support corporate yuan use.
- Over 2.3 billion trips are expected during China’s holiday period; OPEC+ may raise oil output, and China has shifted soybean imports to South America.
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Who’s Who
- Moore Threads
- Moore Threads, a Chinese AI chip company, has received fast-track approval for its STAR Market IPO despite a 4.5 billion yuan net loss over three years. Founded in October 2020, it develops general-purpose GPUs to compete with Nvidia. Its CEO and CTO are former Nvidia China employees.
- Nvidia
- Nvidia is a company that Moore Threads, a domestic AI chip company, aims to compete with by developing general-purpose GPUs. Notably, Moore Threads' founder and CEO, Zhang Jianzhong, and its Chief Technology Officer, Zhang Yubo, both previously held positions at Nvidia.
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