Tech Brief (Nov. 12): China’s Auto Market Hits Electric Milestone
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U.S. suspends sweeping export control rule for one year after China trade talks
The U.S. has temporarily halted a sweeping export control rule, which had vastly expanded trade blacklist restrictions and swept in thousands of Chinese firms. In an announcement Monday, the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) said it would pause its so-called 50% ownership rule designed to limit exports to entities that are majority owned by blacklisted companies until Nov. 9, 2026. The suspension is part of a broader agreement reached by presidents Donald Trump and Xi Jinping in Kuala Lumpur late last month, where Washington promised to halt the 50% ownership rule for one year in exchange for Beijing’s agreement to suspend its retaliatory trade measures announced in early October for one year.
China’s auto market hits electric milestone
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- The U.S. paused its sweeping export control rule on Chinese firms for one year after an agreement with China, in exchange for China suspending retaliatory trade measures.
- Over half of new cars sold in China in October 2025 were new-energy vehicles, and the country’s auto and robotics sectors saw record growth.
- Hesai Technology reported a net profit in Q3 2025, and China criticized potential EU bans on Huawei and ZTE.
- Hesai Technology
- **Hesai Technology** Hesai Technology, a Chinese lidar-maker, reported a net profit of 256 million yuan ($36 million) in the third quarter, turning around a loss from the previous year. This achievement means the company met its full-year profitability target ahead of schedule. Quarterly revenue increased by 47.5% year-on-year to 795 million yuan, and total lidar deliveries surged by 228.9% to 441,400 units.
- Huawei
- China's foreign ministry has criticized reports indicating that the European Commission might compel EU member states to remove Huawei and ZTE equipment from their telecom networks. China views such restrictions without legal or factual basis as violations of market principles and fair competition, urging the EU to ensure a fair business environment for Chinese firms.
- ZTE
- The Chinese foreign ministry has criticized reports that the European Commission is considering a ban on Huawei and ZTE equipment from EU telecom networks. A ministry spokesperson stated that restricting companies without legal basis violates market principles and fair competition, urging the EU to provide a fair business environment for Chinese firms.
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