China's real-estate sector has been mired in a debt crisis for over two years with no signs of a strong recovery.
Electric vehiclesThanks to government subsidies, China is already the world's largest market and producer of electric vehicles.
Related storiesThe Chinese EV market is expected to continue growing 25% this year, although the growth is slower than the 36% the industry posted in 2023 as Beijing winds down its subsidies.
In the last quarter of 2023, Chinese EV maker BYD overtook Tesla to become the world's largest seller of electric vehicles .
Other Chinese EV brands with international expansion plans include Nio, Geely, and Zeekr.
Persons:
Xi, Tesla, Ilaria, Bernstein, Wood Mackenzie
Organizations:
Service, Business, Eurasia Group, Center for Strategic, International Studies, South, Financial Times
Locations:
China, Beijing, Europe, Washington ,