Caixin

Two men riding an electric scooter smoke cigarette as they wait to cross a street in Beijing, China, on 12 May 2023. (Wang Zhao/AFP)

China’s tobacco monopoly is swept up in corruption probes

Nearly 20 senior executives and officials from the government-controlled China National Tobacco Corporation (China Tobacco) and the regulator, State Tobacco Monopoly Administration, have been caught up in the anti-graft investigation since 2021. Huge profits and the vertical management structure have made the tobacco industry a breeding ground for corruption.
Clothes are displayed on hangers at a Chinese fashion brand Shein pop-up store in Paris, France, on 4 May 2023. (Christophe Archambault/AFP)

Chinese fast fashion platforms could be next US target

Although Chinese fast fashion platforms such as Shein and Temu are gaining pace in the US, they could be the target of stringent US regulations over a variety of concerns such as personal data risks and trade loopholes.
A cargo ship berths at Lianyungang port, in Jiangsu province, China, on 9 May 2023. (AFP)

Chinese exporters turn toward emerging markets

The diverging performance of China’s ports reflects a shift in trade for the world’s largest exporter. A growing proportion of shipments are destined for emerging markets such as countries in the Association of Southeast Asian Nations, the Middle East and Latin America, and an increasing share of exports consist of intermediate goods and capital items. Meanwhile, the shift in demand for Chinese exports is driving up prices for container shipping, squeezing margins for China’s small, private exporters.
This picture shows a poster depicting King Abdulaziz bin Abdul Rahman Al Saud (left), the founder of the modern Kingdom of Saudi Arabia, King Salman bin Abdulaziz Al Saud (centre), and Crown Prince Mohammed in Riyadh, Saudi Arabia, on 16 April 2023. (Fayez Nureldine/AFP)

Chinese firms flock to Saudi Arabia in Middle East gold rush

Chinese businesses are flocking to Saudi Arabia, in what they see as the latter's "reform and opening up" period of opportunities. While bilateral trade and investment has increased, the Chinese also see Saudi Arabia as a gateway for the Middle East market, in emerging fields such as cloud services and artificial intelligence, and as a vibrant venture capitalist hub.
Visitors at the 20th Shanghai International Automobile Industry Exhibition in Shanghai, China, on 18 April 2023. (Hector Retamal/AFP)

Chinese smart-car makers get into Tesla’s lane

By 2024, the performance of Chinese autonomous smart cars will match that of Tesla at the end of 2022 and early 2023, say Chinese industry experts. But while the commercial prospects for autonomous vehicles are promising, the road leading to them is bumpy as automakers are still in search of effective, affordable technology solutions.
A person tries an Oculus Meta Quest virtual reality headset at the Mobile World Congress, in Barcelona, Spain, on 28 February 2023. (Josep Lago/AFP)

Tencent, ByteDance gut metaverse units in virtual reality check

Major staff cuts at the metaverse units of ByteDance and Tencent have highlighted the sometimes disorganised ways that big tech firms have handled investments in new businesses. Now, grand development plans have been shelved, not so much because of a looming regulatory risk, but because of the difficulties of navigating a vaguely defined sector with patchy overall demand.
Customers queue at the Apple Fifth Avenue store for the release of the Apple iPhone 14 range in New York City, US, 16 September 2022. (Andrew Kelly/File Photo/Reuters)

Long tethered to Apple, Chinese suppliers seek new options

Chinese component suppliers are trying to curb their reliance on Apple, the latest American giant caught in the US-China tug of-war. In the early days, Chinese firms able to make it onto Apple’s supplier list were able to breathe a little easier. But with reliance comes exposure, and a need to adapt amid news of Apple's decreasing sales and rumoured plans of making production shifts to other countries.
Visitors view a BYD Dolphin EV at the 44th Bangkok International Motor Show in Bangkok, Thailand, 23 March 2023. (Athit Perawongmetha/File Photo/Reuters)

China’s EV battery boom goes bust

China’s auto market has been rattled by a brutal price war since late last year amid slowing sales. Sales of electric vehicles have plunged since a government subsidy expired at the end of last year and as consumers remain hesitant about spending.
This file photo taken on 3 January 2023 shows shipping containers stacked at Nanjing port, Jiangsu province, China. (AFP)

How China’s export surge left the shipping industry with a hangover

Two of China’s largest container truck yards near the major port city of Ningbo in Zhejiang province have been filled with nearly 3,000 idle vehicles with no cargo to haul since early March, and the situation could get even worse with the delivery of new vessels. Could overcapacity in the industry lead to a price war?