A fierce price war has erupted as China’s auto sector enters lean times, with sales plunging since a government subsidy on EV purchases expired at the end of last year. New energy and conventional fossil fuel car makers alike are battling it out to gain a larger slice of the pie to survive.
Economy
Society
The drive in China to get more sperm donations have triggered concerns of a shortfall in supply and rising male infertility rates, but it also plays into the wider national anxiety over a population decline in the country.
Economy
In 2023, a record of 11.58 million students in China are expected to graduate from higher education institutions. But the perennial struggle to find employment after graduation is especially dire this year. How will China's youths cope with the situation, and what measures have the Chinese government put in place to stabilise employment?
Economy
Until now, China has held a dominant position in the global industrial chain from cathode materials to EV battery manufacturing and vehicle production, supplying nearly half of global core products. But with a major restructuring underway, it will have to tackle rising costs, supply chain shortfalls and the need to tailor resources for different markets.
Economy
Data from the Chinese Ministry of Finance shows that revenue in the local general public budget dropped 2.1% to 10.9 trillion RMB in 2022. As massive tax relief, “zero-Covid” outlays, and a property market meltdown drained their coffers, China’s local governments struggled to balance revenue and spending last year. One state-backed think tank warns that the fiscal strain could continue to plague localities in 2023.
Economy
Caixin sat down for an exclusive interview with Malaysia’s new Minister of International Trade and Industry Tengku Zafrul Aziz on the sidelines of the World Economic Forum (WEF) in Davos, Switzerland, in January. He spoke about Malaysia's and ASEAN's relations with China, and his thoughts on regional and global trade.
Economy
China lacks sufficient reserves of strategic minerals. The country's strategic mineral reserves, including iron, copper, aluminum, nickel and lithium, equals less than 20% of the world’s total, while the country accounts for more than half of global consumption of cobalt, aluminum and copper. What are China's options?
Economy
Optimism over China's economic outlook may be rising, but its recovery is uneven, with different industries experiencing different levels of rebound. Furthermore, can Chinese authorities ensure a better business environment and greater transparency, as well as policy consistency and guarantee of the rule of law, to attract back businesses and investors?
Economy
The RMB is now one of the most actively traded currencies in the world and is set to gain further traction globally this year, as the People’s Bank of China implements the government’s strategy to boost the currency’s use overseas, challenging the dominance of the US dollar in the long term.