https://www.scmp.com/rss/268578/feed Daniel Ren is the SCMP's Shanghai bureau chief. A Shanghai native, Daniel joined the SCMP in 2007 as a Business reporter. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Daniel Ren Daniel Ren Li Auto, one of Tesla’s major rivals in mainland China, has set its sights on the Middle East and Asia-Pacific, with its premium intelligent models poised to take on petrol car brands such as BMW and Mercedes-Benz. The Beijing-based electric vehicle (EV) maker, which is actively building a sales network abroad, expected overseas deliveries to account for 30 per cent of its total by 2030, according to president Ma Donghui. “It is inevitable that we will compete against BMW, Benz and Audi, which... https://www.scmp.com/business/china-business/article/3351481/chinas-li-auto-targets-bmw-and-mercedes-premium-suvs-middle-east-asia-pacific?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3351481/chinas-li-auto-targets-bmw-and-mercedes-premium-suvs-middle-east-asia-pacific?utm_source=rss_feed Sun, 26 Apr 2026 11:10:02 +0000 Daniel Ren,Themis Qi Daniel Ren,Themis Qi Chinese electric vehicle (EV) makers at the Beijing auto show are shifting their focus to overseas markets, banking on opportunities from the Middle East crisis to boost profitability amid weak sales at home. “Going global has become a top choice for Chinese EV builders as they struggle to break even,” said Phate Zhang, founder of Shanghai-based data provider CnEVPost. “The Middle East crisis is acting as a strong catalyst to bolster their overseas deliveries.” Nearly all major EV assemblers... https://www.scmp.com/business/china-business/article/3351357/chinese-ev-makers-target-global-expansion-auto-china-amid-energy-shock?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3351357/chinese-ev-makers-target-global-expansion-auto-china-amid-energy-shock?utm_source=rss_feed Fri, 24 Apr 2026 12:57:59 +0000 Daniel Ren Daniel Ren Adamant about retaining its runaway lead in supplying smart driving systems in China, Huawei Technologies plans to invest as much as 80 billion yuan (US$11.7 billion) over the next five years to boost computing power essential for training and testing semi-autonomous cars. The massive capital expenditure would enhance the reliability of cars fitted with the Huawei Qiankun ADS autopilot system, as the Shenzhen-based tech giant looked to expand its customer base, said Jin Yuzhi, CEO of Huawei’s... https://www.scmp.com/business/china-business/article/3351242/huawei-doubles-down-autonomous-driving-earmarking-us117b-autopilot-training?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3351242/huawei-doubles-down-autonomous-driving-earmarking-us117b-autopilot-training?utm_source=rss_feed Fri, 24 Apr 2026 03:39:33 +0000 Daniel Ren,Themis Qi Daniel Ren,Themis Qi Chinese electric vehicle (EV) makers and supply-chain vendors, from Tesla rivals Xpeng to Nio and lidar sensor producer Hesai Group, will display their technological advances on a new front – in-car chips – at the Auto China show in Beijing as the country’s automotive industry makes rapid progress. Carmakers and vendors are designing and developing chips to power autonomous driving and in-car entertainment systems. These chips boast computing power on par with blockbuster products made by chip... https://www.scmp.com/business/china-business/article/3351186/chinese-ev-makers-bet-house-chips-make-cars-smarter-and-more-autonomous?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3351186/chinese-ev-makers-bet-house-chips-make-cars-smarter-and-more-autonomous?utm_source=rss_feed Fri, 24 Apr 2026 00:30:08 +0000 Daniel Ren,Themis Qi Daniel Ren,Themis Qi This year’s Auto China, the world’s largest car show, is likely to mark a watershed for Chinese electric vehicle (EV) makers as they push dozens of new premium models into the spotlight, challenging European manufacturers such as BMW and Mercedes-Benz. Leading EV makers in mainland China, from BYD and Geely to Leapmotor and Nio, will showcase their latest models at the 10-day show, which starts in Beijing on Friday, having moved up the value chain through the rapid adoption of technological... https://www.scmp.com/business/china-business/article/3351130/chinas-premium-evs-mount-tech-powered-challenge-bmw-mercedes-benz-expo?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3351130/chinas-premium-evs-mount-tech-powered-challenge-bmw-mercedes-benz-expo?utm_source=rss_feed Thu, 23 Apr 2026 09:00:09 +0000 Daniel Ren Daniel Ren Contemporary Amperex Technology Ltd (CATL), the world’s largest electric vehicle (EV) battery producer, has unveiled its upgraded technologies – including lighter battery packs and faster charging modes – which are expected to accelerate the global automotive industry’s electrification drive. The company, which holds more than a 40 per cent share of the global market, aimed to set a healthy tone for the Chinese EV sector to implement its go-global strategy, focusing on constant technological... https://www.scmp.com/business/china-business/article/3350938/catl-drive-electrification-faster-charging-and-higher-performing-batteries?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3350938/catl-drive-electrification-faster-charging-and-higher-performing-batteries?utm_source=rss_feed Wed, 22 Apr 2026 01:24:14 +0000 Daniel Ren Daniel Ren European consumers, spooked by rising oil prices due to the Middle East conflict, rushed to buy battery-powered cars last month, with Chinese electric vehicle (EV) brands poised to reap the benefits and give their global expansion a boost. Battery EV (BEV) registrations, a proxy for retail sales, climbed 51 per cent month on month in March, topping 224,000 units across 15 key European Union (EU) markets, according to data jointly released by research firm New Automotive and industry consortium... https://www.scmp.com/business/china-evs/article/3350776/jump-eu-ev-sales-amid-iran-war-boosts-chinese-brands-fortunes?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3350776/jump-eu-ev-sales-amid-iran-war-boosts-chinese-brands-fortunes?utm_source=rss_feed Mon, 20 Apr 2026 23:30:07 +0000 Daniel Ren Daniel Ren Hesai Group, the world’s largest maker of vehicle lidar sensors, introduced technology it said would raise autonomous driving features to a new level by detecting colour to improve the reliability of object identification. The Shanghai-based maker of light ­detection and ranging ­sensors said its 6D full-colour platform would deliver lidar sensors with world-leading capabilities in ranging and small-target identification. 6D refers to the sensors’ ability to detect the X, Y and Z coordinates of... https://www.scmp.com/business/china-business/article/3350682/chinas-hesai-adds-colour-lidar-ev-makers-race-level-self-driving-tech?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3350682/chinas-hesai-adds-colour-lidar-ev-makers-race-level-self-driving-tech?utm_source=rss_feed Mon, 20 Apr 2026 05:15:24 +0000 Daniel Ren Daniel Ren Hong Kong Exchanges and Clearing (HKEX) has proposed halving the cash settlement cycle for share trading as part of efforts to enhance market efficiency and liquidity. The city’s bourse operator said in a consultation paper on Friday that it aimed to implement a “T+1” system – under which trades are settled one day after the transaction – in the fourth quarter of 2027, replacing the existing “T+2” cycle. If adopted, the shortened cycle would apply to equities, exchange-traded products,... https://www.scmp.com/business/banking-finance/article/3350526/hkex-proposes-halving-share-settlement-cycle-bid-boost-hong-kongs-financial-profile?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3350526/hkex-proposes-halving-share-settlement-cycle-bid-boost-hong-kongs-financial-profile?utm_source=rss_feed Fri, 17 Apr 2026 13:51:01 +0000 Daniel Ren Daniel Ren One in every six Asia-Pacific companies would face credit pressure from a prolonged energy shock arising from the Middle East conflict, as they deal with higher costs from rising oil prices and supply disruptions, according to S&P Global Ratings. Companies in the fields of downstream oil and gas, aviation, automotive, engineering and construction, and building materials would bear the brunt of the pain brought on by the war that has already sent crude prices up more than 30 per cent since the... https://www.scmp.com/business/banking-finance/article/3350357/one-six-asia-pacific-firms-faces-credit-pressure-iran-war-energy-shock-sp-says?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3350357/one-six-asia-pacific-firms-faces-credit-pressure-iran-war-energy-shock-sp-says?utm_source=rss_feed Thu, 16 Apr 2026 23:00:13 +0000 Daniel Ren Daniel Ren Ganfeng Lithium, the world’s largest producer of lithium metal, has issued a strong profit forecast for the first quarter of this year as soaring demand for electric vehicles (EVs) and energy storage system (ESS) batteries lifted earnings. The company, based in China’s central Jiangxi province, said in an exchange filing on Thursday that increasing orders had driven up prices of lithium – a key material for EV and ESS batteries – helping it post an estimated profit of 1.6 billion yuan (US$234... https://www.scmp.com/business/banking-finance/article/3350364/chinas-lithium-giant-ganfeng-sees-profit-jump-demand-evs-and-ess-batteries-soars?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3350364/chinas-lithium-giant-ganfeng-sees-profit-jump-demand-evs-and-ess-batteries-soars?utm_source=rss_feed Thu, 16 Apr 2026 14:40:24 +0000 Daniel Ren Daniel Ren Contemporary Amperex Technology Ltd (CATL), China’s electric vehicle (EV) battery king, plans to earmark 30 billion yuan (US$4.4 billion) to establish a subsidiary to manage and expand mining assets, after the global energy shock paved the way for a quicker entry into the world’s automotive and energy storage system (ESS) markets. The investment arm, in line with CATL’s long-term growth strategy, would integrate existing mining assets, pursue high-quality mineral projects at home and abroad, and... https://www.scmp.com/business/china-business/article/3350213/chinas-catl-invest-us44-billion-mining-arm-secure-ev-battery-supply-chain?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3350213/chinas-catl-invest-us44-billion-mining-arm-secure-ev-battery-supply-chain?utm_source=rss_feed Wed, 15 Apr 2026 13:50:49 +0000 Daniel Ren Daniel Ren Tesla’s Shanghai Gigafactory, its largest production base, has the potential to build humanoid robots in future, the company’s China president says, with its manufacturing efficiency and innovative capability seen as potential drivers of CEO Elon Musk’s hopes of commercialising the technology swiftly. Allan Wang Hao said in a media briefing on Tuesday that the Shanghai Gigafactory could provide a “golden key” to the mass production of robots designed to resemble and move like humans. “Like other... https://www.scmp.com/business/china-business/article/3350076/shanghai-gigafactory-has-potential-construct-humanoid-robots-tesla-china-president?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3350076/shanghai-gigafactory-has-potential-construct-humanoid-robots-tesla-china-president?utm_source=rss_feed Tue, 14 Apr 2026 13:02:53 +0000 Zhu Wenqian,Daniel Ren Zhu Wenqian,Daniel Ren Chinese companies – from sectors as diverse as bubble tea, budget retail and cars – are expanding their presence in Brazil, with analysts saying the robust trade ties between China and Latin America’s biggest economy could help pave the way for further investment. Mixue Group, known for its affordable ice cream and beverages, opened its first Brazil outlet on Saturday, drawing large crowds in Sao Paulo, the country’s largest city. The opening marked its third store in the Americas after... https://www.scmp.com/business/china-business/article/3349982/chinese-firms-target-brazil-it-becomes-magnet-expansion?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3349982/chinese-firms-target-brazil-it-becomes-magnet-expansion?utm_source=rss_feed Tue, 14 Apr 2026 06:57:44 +0000 Yulu Ao,Daniel Ren Yulu Ao,Daniel Ren Chinese electric vehicle (EV) stocks rallied against a falling broader market in Hong Kong on Monday, as strong export data and rising oil prices bolstered the appeal of battery-powered and hybrid cars while a coming wave of model launches sparked hopes of a domestic demand recovery. Nio surged 7.5 per cent to HK$52.40 on Monday, while BYD climbed 5 per cent to HK$110.30, the highest since October 2. Xpeng advanced 0.9 per cent to HK$67.60, and Zhejiang Leapmotor Technology added 1.6 per cent to... https://www.scmp.com/business/china-business/article/3349858/chinese-ev-stocks-jump-surging-exports-hopes-domestic-demand-recovery?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3349858/chinese-ev-stocks-jump-surging-exports-hopes-domestic-demand-recovery?utm_source=rss_feed Mon, 13 Apr 2026 06:00:19 +0000 Daniel Ren Daniel Ren China’s tea-drink market, with estimated annual sales of 370 billion yuan (US$54.2 billion), has become yet another example of involution as brutal price competition threatens to expel thousands of unprofitable small players. The dire scenario represents a rude reminder to those who hope to strike it rich by investing in a fast-growing business in mainland China’s vast consumer market, which abounds with boom-to-bust cycles. “Bubble tea is a dynamic market, and it is never easy to make money... https://www.scmp.com/business/china-business/article/3349847/chinas-tea-drink-shops-thirst-profits-price-wars-dry-prospects?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3349847/chinas-tea-drink-shops-thirst-profits-price-wars-dry-prospects?utm_source=rss_feed Mon, 13 Apr 2026 04:35:43 +0000 Daniel Ren Daniel Ren A pivotal year for self-driving cars has begun in China, with the first “hands off” models approved to ply public roads, carmakers gearing up to mass-produce them and the first mandatory safety standards for autonomous vehicles out for public comment. The first carmakers were given the go-ahead in mid-December to build electric vehicle (EV) models with Level 3 (L3) autonomous driving capability. On an international scale from L0 to L5, an L3 autonomous vehicle can operate independently under... https://www.scmp.com/plus/business/china-evs/article/3349837/chinese-carmakers-gear-l3-self-driving-roll-out?utm_source=rss_feed https://www.scmp.com/plus/business/china-evs/article/3349837/chinese-carmakers-gear-l3-self-driving-roll-out?utm_source=rss_feed Mon, 13 Apr 2026 03:40:07 +0000 Daniel Ren Daniel Ren Hyundai Motor has spearheaded a comeback among foreign marques vying for a slice of the Chinese electric vehicle (EV) market, launching a new brand built around local technologies and partnerships. The South Korean carmaker, which reversed a six-year sales decline in 2025, said it would soon introduce production models under the Ioniq brand tailored for Chinese consumers, as it steps up its push into the world’s largest automotive market. “The newly launched Ioniq brand in China evolves beyond a... https://www.scmp.com/business/china-business/article/3349776/hyundai-spearheads-foreign-ev-comeback-push-china-ioniq-brand?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3349776/hyundai-spearheads-foreign-ev-comeback-push-china-ioniq-brand?utm_source=rss_feed Sun, 12 Apr 2026 05:20:54 +0000 Daniel Ren,Enoch Yiu Daniel Ren,Enoch Yiu The Hong Kong Monetary Authority (HKMA) is being urged to go further in loosening restrictions on stablecoins, after granting the city’s first two licences to banks to issue the digital currency. Bankers, venture capitalists and analysts said the long-awaited approvals – awarded to HSBC and a joint venture led by Standard Chartered – fell short of market expectations, underscoring the regulator’s cautious stance amid lingering risk concerns. “It came as a surprise that only two licences were... https://www.scmp.com/business/banking-finance/article/3349742/hong-kong-regulator-urged-expand-stablecoin-rules-after-cautious-roll-out?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3349742/hong-kong-regulator-urged-expand-stablecoin-rules-after-cautious-roll-out?utm_source=rss_feed Sat, 11 Apr 2026 09:10:21 +0000 Daniel Ren Daniel Ren China’s leading battery makers have unveiled plans to add more than 600 gigawatt-hours (GWh) of new production capacity for the energy storage system (ESS) market in just the first two months of 2026, underscoring surging global demand for renewable energy infrastructure. The planned facilities – spanning major players from Contemporary Amperex Technology Ltd (CATL) to Gotion High-tech – amount to roughly 10 times the 58GWh of total capacity installed across the US in 2025. According to the GGII... https://www.scmp.com/business/china-business/article/3349550/china-throws-switch-battery-buildout-equal-10-times-us-capacity-2025?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3349550/china-throws-switch-battery-buildout-equal-10-times-us-capacity-2025?utm_source=rss_feed Thu, 09 Apr 2026 12:40:44 +0000 Daniel Ren Daniel Ren Zhejiang China Commodities City Group, operator of the marketplace that was once the epicentre of global consumer goods trading, is planning an initial public offering (IPO) in Hong Kong to support overseas expansion, as the wave of mainland Chinese firms looking to raise funds in the city continues. The state-owned company, which runs the Yiwu international trade market in east China’s Zhejiang province, said in a filing to the Shanghai Stock Exchange on Wednesday that a share sale in Hong Kong... https://www.scmp.com/business/china-business/article/3349483/operator-yiwu-market-former-mecca-global-consumer-goods-trade-eyes-hong-kong-ipo?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3349483/operator-yiwu-market-former-mecca-global-consumer-goods-trade-eyes-hong-kong-ipo?utm_source=rss_feed Thu, 09 Apr 2026 06:03:52 +0000 Mandy Zuo,Daniel Ren Mandy Zuo,Daniel Ren Billionaire investor and philanthropist Ray Dalio has called the US-China relationship the single most critical factor for global well-being, as the war on Iran shakes the world order and leaders of the two superpowers prepare to meet next month. Strong ties between Beijing and Washington could unlock immense progress for humanity, while bad relations could cause catastrophic damage, Dalio warned at an event for his non-profit ocean exploration initiative OceanX in Shanghai on Wednesday. “We are... https://www.scmp.com/economy/china-economy/article/3349393/ray-dalio-says-us-china-ties-are-critical-world-enters-dangerous-new-era?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3349393/ray-dalio-says-us-china-ties-are-critical-world-enters-dangerous-new-era?utm_source=rss_feed Wed, 08 Apr 2026 13:00:08 +0000 Daniel Ren Daniel Ren Chinese electric vehicle (EV) batteries are set to become safer and more powerful, as carmakers including SAIC Motor and Chery Automobile outline road maps for the commercialisation of solid-state technology. Solid-state batteries – which use a solid electrolyte to conduct ions between electrodes – are widely seen as a superior alternative to conventional lithium-ion batteries that rely on liquid or gel-based materials. Analysts say the technology promises higher energy density, improved safety... https://www.scmp.com/business/china-business/article/3349348/safer-longer-range-evs-sight-china-accelerates-solid-state-battery-push?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3349348/safer-longer-range-evs-sight-china-accelerates-solid-state-battery-push?utm_source=rss_feed Wed, 08 Apr 2026 08:00:08 +0000 Daniel Ren Daniel Ren A number of underperforming international car brands are likely to either exit the mainland Chinese market or scale down operations, as losses mount due to falling sales and shrinking market share. Carmakers delivering fewer than 1,000 units a month already faced a do-or-die situation in the world’s largest automotive market because the weak sales were not enough to cover their manufacturing and operating costs, according to analysts. Some carmakers are likely to follow Skoda, Volkswagen’s... https://www.scmp.com/business/china-business/article/3349083/more-foreign-marques-face-do-or-die-moment-chinese-buyers-shun-petrol-cars?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3349083/more-foreign-marques-face-do-or-die-moment-chinese-buyers-shun-petrol-cars?utm_source=rss_feed Mon, 06 Apr 2026 08:00:09 +0000 Daniel Ren Daniel Ren Tesla has regained the global pure electric vehicle (EV) crown for the first time since the fourth quarter of 2024, after its deliveries rose 6.5 per cent year on year in the three months ending March. The modest increase was enough for the US carmaker to beat China’s EV king BYD, which posted a 25.5 per cent drop in sales during the first quarter of 2026. Tesla’s deliveries worldwide between January and March hit 358,023 units, it said in a statement on Thursday. Tesla builds only pure electric... https://www.scmp.com/business/china-business/article/3348898/tesla-outraces-chinas-byd-pure-electric-car-sales-regain-worlds-top-spot?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3348898/tesla-outraces-chinas-byd-pure-electric-car-sales-regain-worlds-top-spot?utm_source=rss_feed Fri, 03 Apr 2026 06:00:12 +0000 Daniel Ren Daniel Ren Leapmotor, one of China’s strongest-performing electric vehicle (EV) makers this year, is accelerating its global push with a new innovation centre in Europe and plans for potential local assembly in Canada, as it looks to entrench production of its low-cost smart cars overseas. The Hangzhou-based carmaker, backed by Fiat owner Stellantis, has also raised its overseas sales target by 50 per cent, betting that higher fuel costs and easing trade barriers will bolster demand for Chinese-made... https://www.scmp.com/business/china-business/article/3348847/leapmotor-targets-global-growth-europe-rd-hub-eyes-canada-assembly?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3348847/leapmotor-targets-global-growth-europe-rd-hub-eyes-canada-assembly?utm_source=rss_feed Fri, 03 Apr 2026 02:00:14 +0000 Daniel Ren Daniel Ren Chinese electric vehicle (EV) makers posted a strong rebound in sales last month, shaking off the weak start to the year as local government subsidies and aggressive financing incentives drew in first-time buyers. Momentum is expected to carry through the coming months, with dozens of new models set to debut at the Auto China show in Beijing, likely to stimulate fresh demand. “The sweeping improvement in deliveries revived hopes for a steady [EV] market after a woeful performance in January and... https://www.scmp.com/business/china-business/article/3348799/china-ev-makers-surge-back-march-subsidies-and-financing-spur-demand?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3348799/china-ev-makers-surge-back-march-subsidies-and-financing-spur-demand?utm_source=rss_feed Thu, 02 Apr 2026 10:00:12 +0000 Daniel Ren Daniel Ren China’s Ganfeng Lithium, the world’s largest producer of lithium metal, is envisioning an “explosive growth” in the global energy storage system (ESS) market in 2026, spurred by higher prices of the key battery material and buoyant demand for renewable energy infrastructure. Executives including president Wang Xiaoshen told an investors’ conference on Tuesday that the global decarbonisation drive had created a strong and sustainable trajectory for Ganfeng, which swung from loss to profit last... https://www.scmp.com/business/china-business/article/3348628/ganfeng-lithium-forecasts-strong-battery-demand-amid-china-us-rivalry-renewable-energy?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3348628/ganfeng-lithium-forecasts-strong-battery-demand-amid-china-us-rivalry-renewable-energy?utm_source=rss_feed Wed, 01 Apr 2026 07:00:21 +0000 Daniel Ren Daniel Ren EnerVenue – a rechargeable battery start-up co-founded by Full Vision Capital, the family office of Hong Kong tycoon Peter Lee Ka-kit – has raised US$300 million in its latest round of financing and appointed a new CEO to accelerate the large-scale industrial deployment of its cutting-edge energy storage technology. The California-based company – which also counts government-backed Hong Kong Investment Corporation (HKIC) as an investor – said it would set up a regional headquarters in the city... https://www.scmp.com/business/banking-finance/article/3348514/enervenue-plugs-us300-million-scale-next-gen-batteries-it-eyes-hong-kong-hub?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3348514/enervenue-plugs-us300-million-scale-next-gen-batteries-it-eyes-hong-kong-hub?utm_source=rss_feed Tue, 31 Mar 2026 07:39:41 +0000 Julie Zhang,Daniel Ren Julie Zhang,Daniel Ren Biotech firm Hangzhou Diagens Biotechnology is banking on artificial intelligence-powered chromosome testing to drive profit growth following its Hong Kong listing, as China’s falling fertility rate spurs demand for assisted reproduction. “In China, many young people do not want to marry or have children, and by the time they decide to start a family, they need medical help to do so,” said Diagens’ founder and executive director Song Ning. “We are meeting an increasing number of couples every... https://www.scmp.com/business/banking-finance/article/3348335/chinese-company-use-ai-powered-chromosome-testing-boost-profits-and-fast-track-ivf?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3348335/chinese-company-use-ai-powered-chromosome-testing-boost-profits-and-fast-track-ivf?utm_source=rss_feed Mon, 30 Mar 2026 02:45:34 +0000 Daniel Ren Daniel Ren The cross-border outlicensing activities of Chinese biotech firms reached a record transaction value of US$60 billion in the first quarter of 2026, driven by multinational pharmaceutical companies’ growing appetite for the country’s promising drug candidates. The deal value represented a 73 per cent jump from the same period a year earlier, and accounted for nearly half of the total US$135.7 billion worth of agreements signed throughout 2025, the National Medical Products Administration (NMPA)... https://www.scmp.com/business/china-business/article/3348295/china-biotech-deals-hit-record-innovative-drugs-draw-interest-multinationals?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3348295/china-biotech-deals-hit-record-innovative-drugs-draw-interest-multinationals?utm_source=rss_feed Sun, 29 Mar 2026 11:26:21 +0000 Daniel Ren Daniel Ren Transactions of pre-owned homes in major Chinese cities led by Shanghai surged in March, fuelling expectations that the country’s embattled property sector may be stabilising. Analysts and brokers said a more active resale market pointed to a gradual return of confidence among homebuyers after a three-year downturn. In Shanghai, about 22,000 second-hand homes changed hands between March 1 and 23, up 170 per cent from the same period a month earlier, according to data from local financial outlet... https://www.scmp.com/business/banking-finance/article/3348255/rising-second-hand-home-sales-offer-tentative-signs-floor-chinas-property-slump?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3348255/rising-second-hand-home-sales-offer-tentative-signs-floor-chinas-property-slump?utm_source=rss_feed Sun, 29 Mar 2026 06:00:34 +0000 Daniel Ren,Cheryl Arcibal Daniel Ren,Cheryl Arcibal China’s electric vehicle (EV) king BYD posted its first annual profit drop in four years as it faced intensifying competition from domestic rivals in a cutthroat market. The Shenzhen-based company reported a net profit of 32.6 billion yuan (US$4.72 billion) for 2025, down 18.97 per cent from a year earlier, according to a filing to the Hong Kong and Shenzhen stock exchanges. That missed a consensus forecast of 35.4 billion yuan in a Bloomberg survey of analysts. Revenue grew 3.46 per cent to... https://www.scmp.com/business/china-business/article/3348207/byds-four-year-profit-run-ends-eyes-global-markets-next-engine-growth?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3348207/byds-four-year-profit-run-ends-eyes-global-markets-next-engine-growth?utm_source=rss_feed Fri, 27 Mar 2026 14:00:12 +0000 Daniel Ren Daniel Ren Rising fuel costs triggered by the Middle East crisis are emerging as an unexpected tailwind for China’s electric vehicle (EV) makers, as consumers increasingly pivot towards battery-powered cars to avoid surging petrol bills. With Brent crude climbing past the psychologically significant US$100-a-barrel mark – and now trading above US$110 – mainland buyers are turning away from petrol vehicles, according to dealers and analysts. “It’s a no-brainer for me now,” said Wang Wenbo, a 25-year-old... https://www.scmp.com/business/companies/article/3348200/pain-pump-fuels-ev-rush-china-driving-timely-boost-carmakers?utm_source=rss_feed https://www.scmp.com/business/companies/article/3348200/pain-pump-fuels-ev-rush-china-driving-timely-boost-carmakers?utm_source=rss_feed Fri, 27 Mar 2026 13:00:18 +0000 Daniel Ren Daniel Ren Chinese self-driving technology firm Pony AI plans to launch robotaxi services with partners Uber Technologies and Verne in Zagreb, Croatia, spearheading commercialisation of autonomous cabs in Europe amid an accelerated go-global drive. The three companies aimed to operate a fleet of thousands of robotaxis in various European cities over the next few years after achieving consistent performance and safety, Guangzhou-based Pony said on Thursday. Neither the starting date for the service nor the... https://www.scmp.com/business/china-business/article/3348026/chinas-pony-ai-launch-robotaxi-service-europe-uber-local-start?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3348026/chinas-pony-ai-launch-robotaxi-service-europe-uber-local-start?utm_source=rss_feed Thu, 26 Mar 2026 11:31:20 +0000 Daniel Ren Daniel Ren China’s two biggest makers of lidar sensors for cars, Hesai Group and RoboSense Technology, have ramped up investments in robotics products as the country consolidates its leading position in building a global supply chain for the fast-growing sector. Shanghai-based Hesai, the world’s largest producer of lidar sensors that help cars map terrain, planned to spend 200 million yuan (US$28.9 million) this year to design and manufacture “eyes and muscles” for robots, creating a new growth engine... https://www.scmp.com/business/china-business/article/3347995/chinas-lidar-giants-pivot-robotics-jensen-huang-praises-chinese-supply-chain?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3347995/chinas-lidar-giants-pivot-robotics-jensen-huang-praises-chinese-supply-chain?utm_source=rss_feed Thu, 26 Mar 2026 09:12:13 +0000 Daniel Ren Daniel Ren GLP, a global operator and investor in logistics, digital infrastructure, renewable energy and finance, is deepening its commitment to China’s growth, projecting as much as a 50 per cent rise in logistics rental rates, supported by stronger domestic consumption and wider adoption of alternative energies. Angela Zhao, CEO of GLP China, said the country’s 15th five-year development plan for 2026 to 2030 would further cement the company’s role as a global thematic investor in “new economy”... https://www.scmp.com/business/china-business/article/3347106/singapore-headquartered-glp-eyes-50-rent-surge-china-demand-fuels-logistics-growth?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3347106/singapore-headquartered-glp-eyes-50-rent-surge-china-demand-fuels-logistics-growth?utm_source=rss_feed Thu, 19 Mar 2026 09:00:20 +0000 Daniel Ren Daniel Ren Chinese carmakers, saddled with excess capacity and weak demand at home, are taking a new approach to global expansion: utilising idled facilities abandoned by international marques. By adopting an asset-light strategy, companies from Geely Auto to Great Wall Motor (GWM) can assemble their cars overseas at lower costs, broadening their influence on the global automotive sector, according to analysts. “Mindful of profitability as well as geopolitical and operating risks, Chinese carmakers are... https://www.scmp.com/business/china-business/article/3346472/carpool-chinese-giants-use-idled-foreign-plants-fuel-global-expansion?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3346472/carpool-chinese-giants-use-idled-foreign-plants-fuel-global-expansion?utm_source=rss_feed Sun, 15 Mar 2026 12:00:07 +0000 Daniel Ren Daniel Ren Geely Auto has gained the upper hand in mainland China’s intensifying automotive sector, as its diverse product line-up pays off after electric vehicle (EV) king BYD suffered a setback following partial withdrawal of a tax break. Controlled by Chinese billionaire Li Shufu, Geely overtook BYD in sales during the first two months of the year because of its vehicles’ quality and reliability, even as Beijing intensified efforts to curb price competition among carmakers, according to... https://www.scmp.com/business/china-evs/article/3346089/geely-auto-beats-byd-sales-first-2-months-2026-become-chinas-top-carmaker?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3346089/geely-auto-beats-byd-sales-first-2-months-2026-become-chinas-top-carmaker?utm_source=rss_feed Wed, 11 Mar 2026 08:00:10 +0000 Daniel Ren Daniel Ren Geely Auto – assembler of mainland China’s bestselling pure electric vehicle (EV), the Galaxy Xingyuan – said it is betting on longer-range and faster-charging technologies, rather than price cuts, to consolidate its leading position in the world’s largest car market. Jerry Gan Jiayue, CEO of the firm’s car subsidiary, pledged that the carmaker, as a bellwether player, would “oppose involution”, while staying committed to driving the growth of China’s automobile sector. Involution refers to... https://www.scmp.com/business/china-business/article/3344489/chinese-ev-maker-geely-bets-longer-range-faster-charging-tech-over-another-price-war?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3344489/chinese-ev-maker-geely-bets-longer-range-faster-charging-tech-over-another-price-war?utm_source=rss_feed Tue, 24 Feb 2026 11:47:39 +0000 Daniel Ren Daniel Ren Beijing is encouraging equity investors to pursue representative action against unscrupulous listed or delisted firms in an apparent effort to bolster confidence in the country’s stock markets, as trading resumed on Tuesday following a 10-day break. The Supreme People’s Court, mainland China’s highest judicial organ, also announced at a press conference that it would issue more edicts on civil compensation for insider trading and market manipulation to better safeguard retail investors’... https://www.scmp.com/business/markets/article/3344453/chinas-top-court-backs-legal-action-against-corrupt-firms-amid-equity-markets-rally?utm_source=rss_feed https://www.scmp.com/business/markets/article/3344453/chinas-top-court-backs-legal-action-against-corrupt-firms-amid-equity-markets-rally?utm_source=rss_feed Tue, 24 Feb 2026 10:00:20 +0000 Daniel Ren Daniel Ren Chinese insurers underwriting electric vehicle (EV) policies have a better chance of turning a profit this year, supported by higher premiums, intelligent pricing mechanisms and improved claims-handling efficiency. A turnaround in mainland China’s EV insurance market, against the backdrop of a bearish outlook for the automotive sector, will accelerate the pace of electrification on the country’s roads, according to industry officials and analysts. “Heavy losses in the insurance business used to... https://www.scmp.com/business/china-business/article/3344267/chinas-ev-insurers-move-towards-profitability-higher-premiums-ai-adoption?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3344267/chinas-ev-insurers-move-towards-profitability-higher-premiums-ai-adoption?utm_source=rss_feed Mon, 23 Feb 2026 02:30:08 +0000 Daniel Ren Daniel Ren Rising battery costs and a cooling car market are likely to tilt China’s electric-vehicle race in favour of hybrids this year, as budget-conscious consumers turn away from fully electric models, analysts say. Material cost inflation is expected to slow momentum for battery-electric vehicles (BEVs), allowing plug-in hybrids to regain market share after years of rapid electrification in the world’s largest car market. “A loss of pure electric car sales can be expected this year due to consumers’... https://www.scmp.com/tech/article/3343905/chinas-ev-momentum-slows-pricier-batteries-steer-drivers-hybrids?utm_source=rss_feed https://www.scmp.com/tech/article/3343905/chinas-ev-momentum-slows-pricier-batteries-steer-drivers-hybrids?utm_source=rss_feed Thu, 19 Feb 2026 11:00:09 +0000 Daniel Ren Daniel Ren China’s more than 100,000 home furnishing companies - most of which are micro businesses - have entered a tumultuous phase as a property slump and persistent deflationary pressure prevent them from making profits. With no property resurgence in sight, the industry, which employs millions of labourers across the country, was likely to see thousands of players expelled from the highly competitive market this year, according to company officials and analysts. “Involution is the name of the game in... https://www.scmp.com/business/companies/article/3343827/sofa-so-bad-chinas-home-furnishing-sector-hits-do-or-die-moment?utm_source=rss_feed https://www.scmp.com/business/companies/article/3343827/sofa-so-bad-chinas-home-furnishing-sector-hits-do-or-die-moment?utm_source=rss_feed Wed, 18 Feb 2026 02:00:09 +0000 Themis Qi,Daniel Ren Themis Qi,Daniel Ren China has banned carmakers from selling new vehicles for less than it costs to make them, including through discounts and subsidies, as regulators continue trying to smother a persistent price war that has sent hopes of profitability up in smoke for most producers. In “pricing guidance” released on Thursday, the State Administration for Market Regulation (SAMR) listed a series of tactics that would result in below-cost pricing for new vehicles, warning that carmakers using any of them would face... https://www.scmp.com/business/china-evs/article/3343429/beijing-warns-carmakers-stop-killing-your-profitability-hopes-selling-below-cost?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3343429/beijing-warns-carmakers-stop-killing-your-profitability-hopes-selling-below-cost?utm_source=rss_feed Fri, 13 Feb 2026 05:38:09 +0000 Daniel Ren Daniel Ren Major Chinese carmakers have cut their lengthy supplier payment cycles – previously used to offset costs and stay competitive in the country’s vast auto market – from nearly a year to less than 60 days, a government-backed industry consortium said, following heightened efforts from Beijing to police the cutthroat sector. The China Association of Automobile Manufacturers (CAAM) said in a statement on Thursday that the 17 assemblers it recently investigated took an average of 54 days to pay their... https://www.scmp.com/business/china-business/article/3343294/chinas-carmakers-cut-supplier-payment-cycles-amid-beijings-price-war-crackdown?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3343294/chinas-carmakers-cut-supplier-payment-cycles-amid-beijings-price-war-crackdown?utm_source=rss_feed Thu, 12 Feb 2026 09:00:11 +0000 Daniel Ren Daniel Ren Chinese self-driving technology firm Pony AI has started mass production of a robotaxi co-developed with Toyota, taking an important step forward in commercialising autonomous cabs worldwide. The Guangzhou-based company said on Monday that 1,000 driverless cabs of this kind would roll off the production line this year, to be deployed in top-tier mainland Chinese cities. The cars will reinforce Pony AI’s plan to operate a total robotaxi fleet of more than 3,000 units in various mainland and... https://www.scmp.com/business/china-business/article/3342953/pony-ai-and-toyota-roll-out-mass-produced-robotaxis-chinas-autonomous-drive-push?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3342953/pony-ai-and-toyota-roll-out-mass-produced-robotaxis-chinas-autonomous-drive-push?utm_source=rss_feed Mon, 09 Feb 2026 12:28:20 +0000 Daniel Ren Daniel Ren Chinese electric vehicle (EV) maker Nio plans to add another 1,000 battery swapping stations to its network this year, adding to its US$2.6 billion bet on the technology despite a challenge from fast-charging batteries as it touts its 100 millionth swap. The company’s 3,729 stations allow owners of compatible Nio EVs to exchange a spent battery pack for a charged one in just three minutes, and most navigate the car into position automatically. Created to ease anxiety over range and slow... https://www.scmp.com/business/china-evs/article/3342899/chinas-nio-raises-us26-billion-bet-ev-battery-swapping-plans-add-1000-stations?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3342899/chinas-nio-raises-us26-billion-bet-ev-battery-swapping-plans-add-1000-stations?utm_source=rss_feed Mon, 09 Feb 2026 07:00:30 +0000 Daniel Ren Daniel Ren For Yum China CEO Joey Wat, success in the mainland’s vast but fierce market does not hinge only on being a local or international fast-food brand. “I personally have huge respect for many local brands,” she said in November. “Chinese players are innovating a lot under the leadership of their founders. We fully understand that this is a cutthroat market.” Wat admitted to being a fan of some mainland restaurant chains whose founders remained pivotal in strategic planning and daily operations.... https://www.scmp.com/business/china-business/article/3341811/chinese-consumers-rapidly-changing-demands-keep-kfc-owner-its-toes?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3341811/chinese-consumers-rapidly-changing-demands-keep-kfc-owner-its-toes?utm_source=rss_feed Sat, 07 Feb 2026 03:00:10 +0000 Daniel Ren Daniel Ren Tesla has begun operating a China-focused artificial intelligence training centre to enhance its cars’ self-driving capabilities in the world’s largest electric vehicle (EV) market, following Beijing’s deregulation of the technology. Grace Tao, vice-president of Tesla, told Shanghai-based financial news outlet Cailian on Friday that the centre had sufficient computing power to support development of assisted-driving features. However, she did not disclose details such as the centre’s location or... https://www.scmp.com/business/china-business/article/3342726/tesla-launches-china-ai-training-centre-self-driving-race-accelerates?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3342726/tesla-launches-china-ai-training-centre-self-driving-race-accelerates?utm_source=rss_feed Fri, 06 Feb 2026 15:07:39 +0000