Daniel Ren

Shanghai

Daniel Ren

Shanghai Bureau Chief

Daniel Ren is the SCMP's Shanghai bureau chief. A Shanghai native, Daniel joined the SCMP in 2007 as a Business reporter.

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Latest from Daniel Ren

China’s electric car start-ups turn to private equity, venture capital for funds as they are turned away from Shanghai’s Star Market

These applicants fell victim to Star Market’s tighter approval procedure, requiring substantial investments in research and development (R&D), as well as products that contain “hard technologies.”

These applicants fell victim to Star Market’s tighter approval procedure, requiring substantial investments in research and development (R&D), as well as products that contain “hard technologies.”

China’s electric car start-ups turn to private equity, venture capital for funds as they are turned away from Shanghai’s Star Market
17 Oct 2021 - 10:36PM
General Motors goes against the herd in China and lands a second hit with its petrol-guzzling SUV in a field of electric vehicles

The Xingchen SUV runs on petroleum, making its runaway success particularly noteworthy in a market where three of every five new vehicles to enter China’s roads in 2030 will be run by battery packs, according to UBS’ forecast.

The Xingchen SUV runs on petroleum, making its runaway success particularly noteworthy in a market where three of every five new vehicles to enter China’s roads in 2030 will be run by battery packs, according to UBS’ forecast.

General Motors goes against the herd in China and lands a second hit with its petrol-guzzling SUV in a field of electric vehicles
14 Oct 2021 - 10:56PM
McDonald’s offers digital token ‘Big Mac Cube’ in Shanghai as fast-food chain ramps up China expansion

A limited number of the digital tokens will be given to some company employees and customers as a gift amid opening of new Shanghai HQ.

A limited number of the digital tokens will be given to some company employees and customers as a gift amid opening of new Shanghai HQ.

McDonald’s offers digital token ‘Big Mac Cube’ in Shanghai as fast-food chain ramps up China expansion
12 Oct 2021 - 6:30AM
New World Development’s Henry Cheng takes charge of pay-TV firm i-Cable after acquiring bigger stake in controlling shareholder Forever Top

Celestial Pioneer, an entity wholly-owned by the Hong Kong billionaire, agreed to buy a combined 40.5 per cent stake in Forever Top through two agreements on September 30, increasing its holding to 72 per cent. Forever Top is the controlling shareholder of i-Cable.

Celestial Pioneer, an entity wholly-owned by the Hong Kong billionaire, agreed to buy a combined 40.5 per cent stake in Forever Top through two agreements on September 30, increasing its holding to 72 per cent. Forever Top is the controlling shareholder of i-Cable.

New World Development’s Henry Cheng takes charge of pay-TV firm i-Cable after acquiring bigger stake in controlling shareholder Forever Top
8 Oct 2021 - 1:14AM
Prada takes over Shanghai wet market to tap Gen Z consumers – although it’s only offering wrapping paper

The campaign has gone viral on Chinese social media and is expected to draw thousands of Shanghai shoppers during the National Day holiday.

The campaign has gone viral on Chinese social media and is expected to draw thousands of Shanghai shoppers during the National Day holiday.

Prada takes over Shanghai wet market to tap Gen Z consumers – although it’s only offering wrapping paper
7 Oct 2021 - 10:51PM
Burned by Evergrande losses, Hong Kong tycoon offers to take developer Chinese Estates private for US$245 million

The family of Hong Kong magnate Joseph Lau is offering US$245 million to take Chinese Estates private at an 83.5 per cent premium to market, following steep losses from bets on Evergrande.

The family of Hong Kong magnate Joseph Lau is offering US$245 million to take Chinese Estates private at an 83.5 per cent premium to market, following steep losses from bets on Evergrande.

Burned by Evergrande losses, Hong Kong tycoon offers to take developer Chinese Estates private for US$245 million
7 Oct 2021 - 7:56AM
Reits seen as a viable funding source for China’s rental home builders, with US$77.6 billion required in short-term

China is likely to soon give the go ahead to the first batch of real estate investment trusts backed by income from rental homes, as local governments boost efforts to lower living costs for the youth.

China is likely to soon give the go ahead to the first batch of real estate investment trusts backed by income from rental homes, as local governments boost efforts to lower living costs for the youth.

Reits seen as a viable funding source for China’s rental home builders, with US$77.6 billion required in short-term
6 Oct 2021 - 8:32AM
Cartier, Dior gravitate to Swire Properties’ Taikoo Li retail complex in Shanghai’s emerging business district

Swire Properties opened its second mass market complex in Shanghai’s Qiantan area, drawing big names like Cartier and Dior to the brand new shopping landmark.

Swire Properties opened its second mass market complex in Shanghai’s Qiantan area, drawing big names like Cartier and Dior to the brand new shopping landmark.

Cartier, Dior gravitate to Swire Properties’ Taikoo Li retail complex in Shanghai’s emerging business district
1 Oct 2021 - 8:50PM
State-owned FAW Jiefang pledges to invest US$4.6 billion building electric vehicle research bases, zero carbon-emissions factory

FAW Jiefang said it aims to deliver half a million new-energy vehicles a year by 2035, which would make up 70 per cent of its total sales.

FAW Jiefang said it aims to deliver half a million new-energy vehicles a year by 2035, which would make up 70 per cent of its total sales.

State-owned FAW Jiefang pledges to invest US$4.6 billion building electric vehicle research bases, zero carbon-emissions factory
30 Sep 2021 - 10:43PM
Evergrande’s Shanghai car plant sits idle after electric car unit’s dream turns into a nightmare of ceaseless cash burn

China Evergrande Group’s carmaking unit is struggling to keep its production plan alive, after a capital crunch forced it to suspend part of its EV projects

China Evergrande Group’s carmaking unit is struggling to keep its production plan alive, after a capital crunch forced it to suspend part of its EV projects

Evergrande’s Shanghai car plant sits idle after electric car unit’s dream turns into a nightmare of ceaseless cash burn
4 Oct 2021 - 7:32PM
Power cuts may stifle Chinese demand for electric vehicles as charging stations in parts of the country suspend operations, say analysts

The temporary suspension of operations at charging stations is likely to put some motorists off switching to a new-energy vehicle, say analysts.

The temporary suspension of operations at charging stations is likely to put some motorists off switching to a new-energy vehicle, say analysts.

Power cuts may stifle Chinese demand for electric vehicles as charging stations in parts of the country suspend operations, say analysts
28 Sep 2021 - 10:29AM
US companies upbeat about future in China as they shake off Covid-19 effects, tension: AmCham survey

American businesses in China have bounced quickly from the Covid-19 setbacks, with most companies optimistic about future profits and investment, survey shows.

American businesses in China have bounced quickly from the Covid-19 setbacks, with most companies optimistic about future profits and investment, survey shows.

US companies  upbeat about future in China as they shake off Covid-19 effects, tension: AmCham survey
23 Sep 2021 - 11:32PM
China’s Baidu unveils autonomous driving ‘robot truck’ Xingtu

Baidu’s open-source autonomous driving platform Apollo has spawned Xingtu, an electric ‘robot truck’, as mainland China’s artificial intelligence and search engine giant revs up the development of next-generation vehicles.

Baidu’s open-source autonomous driving platform Apollo has spawned Xingtu, an electric ‘robot truck’, as mainland China’s artificial intelligence and search engine giant revs up the development of next-generation vehicles.

China’s Baidu unveils autonomous driving ‘robot truck’ Xingtu
18 Sep 2021 - 2:36AM
Tesla boss Elon Musk praises China’s carmakers and calls for concerted efforts to ensure data security after run-ins with regulators, customers

The Tesla chief executive called for a concerted effort by carmakers and governments to ensure data security, months after his company drew the scrutiny of Chinese officials worried about that and safety issues.

The Tesla chief executive called for a concerted effort by carmakers and governments to ensure data security, months after his company drew the scrutiny of Chinese officials worried about that and safety issues.

Tesla boss Elon Musk praises China’s carmakers and calls for concerted efforts to ensure data security after run-ins with regulators, customers
17 Sep 2021 - 10:32PM
Xpeng to deliver LiDAR-fitted P5 smart EVs this month, defying Elon Musk’s derision by dialling rivalry with Tesla up a notch

The P5 is Xpeng’s latest move to chip away at Tesla’s lead in the world’s largest vehicle market, where three of every five new cars on Chinese roads will be powered by electricity by 2030, according to UBS.

The P5 is Xpeng’s latest move to chip away at Tesla’s lead in the world’s largest vehicle market, where three of every five new cars on Chinese roads will be powered by electricity by 2030, according to UBS.

Xpeng to deliver LiDAR-fitted P5 smart EVs this month, defying Elon Musk’s derision by dialling rivalry with Tesla up a notch
15 Sep 2021 - 9:32PM
China’s NIO eyes second European market, plans to sell its ET7 luxury car in Germany from next year

‘Entering Germany is an objective that we’re striving for,’ William Li, NIO’s co-founder and CEO, said.

‘Entering Germany is an objective that we’re striving for,’ William Li, NIO’s co-founder and CEO, said.

China’s NIO eyes second European market, plans to sell its ET7 luxury car in Germany from next year
14 Sep 2021 - 11:29PM
China’s booming electric car market prompts lithium producer and battery assembler to raise funds for expansion

China’s demand for lithium carbonate equivalents (LCEs) have soared fivefold this year to 668,900 tonnes, from 132,900 tonnes last year, according to Haitong International’s research report in May.

China’s demand for lithium carbonate equivalents (LCEs) have soared fivefold this year to 668,900 tonnes, from 132,900 tonnes last year, according to Haitong International’s research report in May.

China’s booming electric car market prompts lithium producer and battery assembler to raise funds for expansion
14 Sep 2021 - 10:50PM
Beijing once again urges consolidation in saturated electric car industry to avoid fragmentation and wasted resources

Sector has been gripped by an investment craze amid Beijing’s ambitions of achieving its carbon neutrality goal by 2060.

Sector has been gripped by an investment craze amid Beijing’s ambitions of achieving its carbon neutrality goal by 2060.

Beijing once again urges consolidation in saturated electric car industry to avoid fragmentation and wasted resources
13 Sep 2021 - 10:54PM
Shanghai closes schools and airports, halts operations at world’s largest port ahead of Typhoon Chanthu’s landfall

Chanthu, estimated to pack wind speed of up to 170 kilometre per hour near its eye, is expected to reach Shanghai on Monday night.

Chanthu, estimated to pack wind speed of up to 170 kilometre per hour near its eye, is expected to reach Shanghai on Monday night.

Shanghai closes schools and airports, halts operations at world’s largest port ahead of Typhoon Chanthu’s landfall
13 Sep 2021 - 11:23PM
Hong Kong’s home buyers pile in, posting another bumper sales weekend en route to a record month in September

More property buyers are rushing into the market to get ahead of rising prices and potentially higher mortgage rates as the local monetary authority is expected to raise interest rates in lockstep with the US Federal Reserve’s tapering policy.

More property buyers are rushing into the market to get ahead of rising prices and potentially higher mortgage rates as the local monetary authority is expected to raise interest rates in lockstep with the US Federal Reserve’s tapering policy.

Hong Kong’s home buyers pile in, posting another bumper sales weekend en route to a record month in September
11 Sep 2021 - 11:17PM
Ping An Insurance becomes top holder of cash-strapped China Fortune Land, raising survival hopes

China’s largest insurer has become the largest shareholder of China Fortune Land, boosting hopes the developer will survive a liquidity crisis with a strong owner behind it.

China’s largest insurer has become the largest shareholder of China Fortune Land, boosting hopes the developer will survive a liquidity crisis with a strong owner behind it.

Ping An Insurance becomes top holder of cash-strapped China Fortune Land, raising survival hopes
10 Sep 2021 - 5:31PM
Chinese carmakers sidestep chip shortage troubles to grow sales, market share at the expense of global rivals

Local proprietary vehicle brands benefited from a flexible supply chain management to grow market share in the first half at the expense of foreign rivals, according to Fitch.

Local proprietary vehicle brands benefited from a flexible supply chain management to grow market share in the first half at the expense of foreign rivals, according to Fitch.

Chinese carmakers sidestep chip shortage troubles to grow sales, market share at the expense of global rivals
9 Sep 2021 - 9:34PM
Xpeng unveils smart robot pony for children, taking it a step closer to its vision of the future of mobility

The smart pony, Little White Dragon, is equipped with power modules, motion control, intelligent navigation and intelligent emotional interaction capabilities.

The smart pony, Little White Dragon, is equipped with power modules, motion control, intelligent navigation and intelligent emotional interaction capabilities.

Xpeng unveils smart robot pony for children, taking it a step closer to its vision of the future of mobility
8 Sep 2021 - 5:20PM
Autonomous driving tech causes alarm in China following fatal NIO car accident, but experts say training mitigates risks

Debate has erupted over driver-assistance systems following a fatal accident involving a NIO ES8 SUV, as analysts call for more education about the tech’s limitations.

Debate has erupted over driver-assistance systems following a fatal accident involving a NIO ES8 SUV, as analysts call for more education about the tech’s limitations.

Autonomous driving tech causes alarm in China following fatal NIO car accident, but experts say training mitigates risks
6 Sep 2021 - 4:04PM
Embattled Evergrande road-tests five electric cars as it looks to offload new-energy vehicle unit to ease debt mountain

The testing of its Hengchi electric cars is an apparent attempt by the beleaguered developer to lift some of the gloom surrounding its prospects ahead of a potential sale, say analysts.

The testing of its Hengchi electric cars is an apparent attempt by the beleaguered developer to lift some of the gloom surrounding its prospects ahead of a potential sale, say analysts.

Embattled Evergrande road-tests five electric cars as it looks to offload new-energy vehicle unit to ease debt mountain
15 Sep 2021 - 11:55AM
Club Med owner Fosun Tourism bullish about return to pre-coronavirus levels

The Hong Kong-listed company expected performance between July this year and June 2022 to match its full-year earnings for 2019, said Andrew Xu, its executive president and co-chief financial officer.

The Hong Kong-listed company expected performance between July this year and June 2022 to match its full-year earnings for 2019, said Andrew Xu, its executive president and co-chief financial officer.

Club Med owner Fosun Tourism bullish about return to pre-coronavirus levels
2 Sep 2021 - 9:52PM
NIO, Li Auto and Xpeng posted a mixed bag of deliveries in August as Covid-19 disrupted China’s electric car supply chains

A monthly delivery of 10,000 vehicles is the threshold that certifies automotive models as blockbuster marques in the world’s largest market for automobiles, both for petrol guzzlers and those that run entirely on electricity.

A monthly delivery of 10,000 vehicles is the threshold that certifies automotive models as blockbuster marques in the world’s largest market for automobiles, both for petrol guzzlers and those that run entirely on electricity.

NIO, Li Auto and Xpeng posted a mixed bag of deliveries in August as Covid-19 disrupted China’s electric car supply chains
1 Sep 2021 - 10:49PM
SenseTime sees its smart-driving technology in 20 million vehicles via tie-ups with Honda, Great Wall, Chery and others

China’s carmakers are rapidly closing the technology gap with global rivals, as every new model released is smarter, cleaner and packs more intelligent features than ever before.

China’s carmakers are rapidly closing the technology gap with global rivals, as every new model released is smarter, cleaner and packs more intelligent features than ever before.

SenseTime sees its smart-driving technology in 20 million vehicles  via tie-ups with Honda, Great Wall, Chery and others
29 Aug 2021 - 7:49PM
Geely’s premium EV brand Zeekr raises US$500 million from investors, including CATL and Intel

Zeekr is among several brands in China looking to gain a leading position in the mainland’s premium EV segment, currently dominated by Tesla.

Zeekr is among several brands in China looking to gain a leading position in the mainland’s premium EV segment, currently dominated by Tesla.

Geely’s premium EV brand Zeekr raises US$500 million from investors, including CATL and Intel
27 Aug 2021 - 10:46PM
Chinese EV maker Xpeng expects to sell 30 per cent more cars after reporting big jump in second-quarter sales

Chinese EV maker Xpeng Motors is expecting busy times and aims to sell up to 30 per cent more cars in the third quarter. It reported record sales and an improved gross margin for the April to June quarter on Thursday.

Chinese EV maker Xpeng Motors is expecting busy times and aims to sell up to 30 per cent more cars in the third quarter. It reported record sales and an improved gross margin for the April to June quarter on Thursday.

Chinese EV maker Xpeng expects to sell 30 per cent more cars after reporting big jump in second-quarter sales
26 Aug 2021 - 10:51PM