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☆ Global EV battery supply chain puzzles over China graphite curbs
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: +6 min

Graphite powder, used for battery paste, is pictured in a Volkswagen pilot line for battery cell production in Salzgitter, Germany, May 18, 2022. China dominates the global EV battery supply chain including production of graphite - the single largest component. Graphite companies in the country process both the natural material mined domestically and overseas, as well as synthetic forms. Under the new rules, China will require export permits starting Dec. 1 for high-end synthetic graphite, as well as key forms of natural graphite. NATURAL GRAPHITE HITGlobal companies using natural graphite include Hitachi Chemical, part of Japan's Resonac Holdings Corp (4004.T), South Korea's POSCO Future M (003670.KS) and Japan's Mitsubishi Chemical, which produces natural graphite at two plants in China, according to research firm CRU Group.

Persons: Fabian Bimmer, Sunit Kapur, Zhang Yan, Siyi Liu, Brenda Goh, Satoshi Sugiyama, Heekyong Yang, Seoul ， Paul Lienert, Jing Xu, Dominique Patton, Tony Munroe, David Evans Organizations: Volkswagen, REUTERS, Rights, EV, Qingdao, Reuters, China's Ministry of Commerce, Gotion High Tech, BTR, Material Technology, Hitachi Chemical, Japan's Resonac Holdings Corp, Mitsubishi Chemical, CRU Group, Mitsubishi, Resources, Materials, Thomson Locations: Salzgitter, Germany, Beijing, China, Japan, South Korea, United States, U.S, Shanghai, Ningbo Shanshan, Indonesia, Finland, Japan's, Australia, Mozambique, U.S ., Louisiana, North Carolina, Toyko, Seoul ，, Detroit

☆ Tesla shows off restyled Model 3 sedan at Beijing trade fair
▼ + stars: | 2023-09-02 | by ( ) www.reuters.com time to read: +2 min

[1/3] Tesla's new Model 3 sedan is seen displayed at the China International Fair for Trade in Services (CIFTIS) in Beijing, China September 2, 2023. REUTERS/Florence Lo Acquire Licensing RightsBEIJING, Sept 2 (Reuters) - Tesla (TSLA.O) showed off its restyled, China-made Model 3 sedan for the first time to the public at a trade fair in Beijing, after launching it a day before in several countries. The U.S. automaker displayed a flame red version of the car - marking the first change to its mass-market car line-up since it launched its global best-seller, the Model Y, in 2020 - at the China International Fair for Trade in Services (CIFTIS). At the fair, Tesla sales staff answered questions from interested buyers. Tesla has also said it will show the new model at the Munich auto show, which opens on Tuesday.

Persons: Florence Lo, Guo, Tesla, Hu, Xiaoyu Yin, Jing Xu, Brenda Goh, Ros Russell Organizations: Fair for Trade, Services, REUTERS, Rights, U.S, Thomson Locations: Beijing, China, Rights BEIJING, United States, Shanghai, Asia, Europe, Munich

☆ China will widen market access for the service industry - President Xi
▼ + stars: | 2023-09-02 | by ( ) www.reuters.com time to read: +1 min

Chinese President Xi Jinping is seen on a screen during a video address for the Global Trade in Services Summit, at the media centre for China International Fair for Trade in Services (CIFTIS) in Beijing, China September 2, 2023. REUTERS/Florence Lo Acquire Licensing RightsBEIJING/SHANGHAI, Sept 2 (Reuters) - Chinese President Xi Jinping said on Saturday that China would widen market access in the service industry and promote cross-border services trade. Speaking via video at the China International Fair for Trade in Services (CIFTIS) in Beijing, Xi said China would focus on expanding the domestic market, increasing imports of high-quality services and reforming the country's basic data system. Xi said China will promote the integrated development of high-end manufacturing and modern service industries. Reporting by Jing Xu and Ryan Woo in Beijing and Jason Xue in Shanghai.

Persons: Xi Jinping, Florence Lo, Xi, Jing Xu, Ryan Woo, Jason Xue, Gerry Doyle, Miral Organizations: Global Trade, Services, China, Fair for Trade, REUTERS, Rights, Thomson Locations: Beijing, China, Rights BEIJING, SHANGHAI, Shanghai

[1/2] The app logo of Chinese ride-hailing giant Didi is seen reflected on its navigation map displayed on a mobile phone in this illustration picture taken July 1, 2021. Didi has been awaiting authorities' approval to resume new user registrations and downloads of its 25 banned apps in China as a key step to resume normal business since its regulatory troubles started in mid-2021. A lifting of the ban on Didi apps would come as Chinese policymakers seek to restore private sector confidence and count on the technology industry to help spur economic activity that has been ravaged by the COVID-19 pandemic. The delay in the return of the apps had cast a shadow over Didi's business plans. That deal is primarily subject to the apps' resumption for official announcement, said the two sources.

HONG KONG/SHANGHAI/BEIJING, Dec 2 (Reuters) - China has ordered its top four state-owned banks to issue offshore loans to help developers repay overseas debt, three people with knowledge of the matter told Reuters, rolling out its latest support measure for the cash-starved property sector. The regulators have given 'window guidance', or verbal orders that leave no paper trail, to the banks, setting a date of Dec. 10 by which to make the loans secured against domestic assets, two of the sources said. Funds received after the latest step will allow developers to repay offshore loans and dollar bonds in a bid to repair global investors' bruised confidence in the sector, two of the sources said. Each of the four banks, Bank of China (601988.SS), China Construction Bank (601939.SS), Industrial and Commercial Bank of China (601398.SS) and Agricultural Bank of China (601288.SS), will pick several developers to fund, the three sources said. The People's Bank of China, the central bank, and the China Banking and Insurance Regulatory Commission (CBIRC) did not immediately respond to Reuters' requests for comment.

Funds flowing from banks will allow developers to repay offshore loans and dollar bonds, helping to repair global investors' bruised confidence, two of the sources said. Each of the four banks, Bank of China (601988.SS), China Construction Bank (601939.SS), Industrial and Commercial Bank of China (601398.SS) and Agricultural Bank of China (601288.SS), will pick several developers to fund, the three sources said. The third source said that, while the big four banks preferred fresh lending to go to state-backed developers, they would have to include some private firms, which have a greater need for offshore loans. Chinese banks make offshore loans secured against domestic assets to companies that need foreign funds, but regulatory tightening in the last couple of years to rein in debt-fuelled empire-building by corporates hampered that kind of lending. China's central bank will also offer cheap loans to financial firms to buy bonds issued by property developers, separate sources have told Reuters.

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