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He recently told the Wall Street Journal editorial board that Chinese President Xi Jinping respects him but also knows he’s “crazy” and wouldn’t provoke him. But Chinese officials might also see potential for Musk to be a mitigating influence on issues such as tariffs. Like other American business leaders, Musk has met with senior Chinese officials as Beijing courts international companies. AP fileIf Chinese officials receive Musk almost like a world leader, the Chinese public treats him like a rock star. Chinese officials have not been shy about making the connection between what Musk says and where he makes his money.

Persons: Donald Trump, Elon Musk, Jia Qingguo, Trump, ” Jia, Xi Jinping, he’s, ” Trump, Joe Biden’s, “, they’re, ”, Kelly Grieco, Musk, Li Qiang, Qin Gang, ” Grieco, Jennifer Lian, Henry Kissinger, Ian Bremmer, Tesla, Kuan, “ He’s, ” Tesla, Li Keqiang, Li, ” Musk, Grieco, didn’t, Xi, Qin, Hsiao, Kamala Harris, Janis Mackey Frayer, Jennifer Jett Organizations: SHANGHAI, Trump, Peking University, NBC News, Wall Street, Stimson, Qin, Weibo, Communist Party ., Eurasia Group, SpaceX, Shanghai Gigafactory, Getty, U.S, Shanghai, NBC, Global Times, Financial Times, Beijing, Washington, U.S ., Democratic Locations: China, Beijing, Musk, Washington, U.S, United States, York, Shanghai, Chinese, Jiangsu, Xinjiang, Taiwan, Hong Kong, Starlink, Ukraine, Russian, British, European

☆ Founder of TikTok owner ByteDance jumps to top of China’s rich list as number of billionaires shrinks
▼ + stars: | 2024-10-30 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +2 min

SHANGHAI — ByteDance founder Zhang Yiming is China’s richest person, with personal wealth of $49.3 billion, an annual rich list showed Tuesday, although counterparts in real estate and renewables have fared less well. Zhang, 41, who stepped down in 2021 as chief executive of ByteDance, the Beijing-based parent company of TikTok, becomes the 18th individual to be crowned China’s richest person in the 26 years since the Hurun China Rich List was first published. He overtook bottled water magnate Zhong Shanshan, who slipped to second place as his fortune dropped 24%, to $47.9 billion. Despite a legal battle over its U.S. assets, ByteDance’s global revenue grew 30% last year to $110 billion, Hurun said, helping to propel Zhang’s personal fortune. The number of billionaires on the list dropped by 142 to 753, shrinking more than a third from its 2021 peak.

Persons: Zhang Yiming, Zhang, China Rich, Zhong Shanshan, Hurun, Pony Ma, Colin Huang, ”, Rupert Hoogewerf, Lei, Hoogewerf Organizations: SHANGHAI, ByteDance, PDD Holdings Locations: Beijing, China

☆ The shipbuilding empire fueling China's naval rise is a juggernaut, but tough questions remain
▼ + stars: | 2024-09-28 | by ( Chris Panella | ) www.businessinsider.com time to read: +9 min

China's massive shipbuilding industry is key to its military's naval modernization. But military corruption and future maintenance issues raise questions about long-term sustainability. AdvertisementChina's shipbuilding industry is at the core of its efforts to modernize its navy, producing new warships at astonishing speeds. This important national ambition gives tremendous support to China's shipbuilding empire. Over the years, there have been signs of extensive corruption documented within the shipbuilding industry, as well as other parts of China's defense industry.

Persons: —, Gerald R, it's, it'll, Brian Hart, Matthew Funaoile, Funaoile, That's, Mike Sweeney, Sweeney Organizations: Service, of Naval Intelligence, Navy, Department of Defense, US Navy, Ford, Pentagon, Liberation Army Navy, Getty, Jiangnan Shipyard, Zhonghua Shipyard, China Power, Center for Strategic, International Studies, Getty Images, CSIS, Business, China State Shipbuilding Corporation, PLA, People's Liberation Army, Planet Labs PBC, U.S . Navy, Maxwell, Defense Locations: China, Fujian, Jiangnan, Getty Images China, Dalian, Huangpu Wenchong, Hong Kong, Hudong, Shanghai, Beijing, Wuhan

☆ Typhoon Bebinca lashes Shanghai in strongest storm to hit city since 1949
▼ + stars: | 2024-09-16 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +2 min

SHANGHAI — The normally bustling financial hub of Shanghai was brought to a standstill Monday as residents sheltered at home to wait out the worst of Typhoon Bebinca. The Category 1 storm, which made landfall in Shanghai on Monday morning, is the most powerful tropical cyclone to directly hit the city in more than seven decades. Packing top wind speeds of 94 miles per hour near its eye, Bebinca landed in the city of nearly 25 million around 7:30 a.m. (7:30 p.m. Sunday ET), state media reported, the strongest storm to strike Shanghai since Typhoon Gloria in 1949. Resorts in Shanghai, including Shanghai Disney Resort, Jinjiang Amusement Park and Shanghai Wild Animal Park, have been temporarily closed and many ferries halted. Shanghai is rarely subject to direct hits from strong typhoons that generally make landfall farther south in China.

Persons: Bebinca, Typhoon Gloria, Rain Organizations: SHANGHAI, Shanghai, Typhoon, Resorts, Shanghai Disney Resort, Animal Locations: Shanghai, China . Parks, Jiangsu, China, Hainan

☆ China should focus on fighting deflationary pressure, former central bank governor says
▼ + stars: | 2024-09-06 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Yi Gang was governor of the People's Bank of China from 2018 to 2023. He is pictured here speaking at the Peterson Institute for International Economics in Washington, DC, US, on Saturday, April 15, 2023. SHANGHAI — China's policymakers need to focus on boosting domestic demand, Yi Gang, former head of the People's Bank of China, said Friday at the Bund Summit in Shanghai. "At this point, proactive fiscal policy and accommodative monetary policy are important," he said. In contrast to high inflation in the U.S. and Europe, China's consumer prices fell in 2023 and have only picked up marginally so far this year as domestic demand remains lackluster.

Persons: Yi Gang, Yi Organizations: People's Bank of, Peterson Institute for International Economics, Bund, Reuters Locations: People's Bank of China, Washington , DC, SHANGHAI, Shanghai, U.S, Europe

☆ China stocks escaped much of the latest sell-off. Signals for whether to buy
▼ + stars: | 2024-08-11 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +7 min

The latest global market volatility has reinforced China's status as a distinct market, even if its growth has slowed recently. While U.S. tech stocks plunged and Japanese stocks swung wildly in a historic two days of price action , Chinese stocks suffered less . The investors remained net buyers of Chinese stocks for the third quarter so far as of Aug. 6, the data showed. Finally, the low correlation of the China stock market with the U.S. stock market could provide investors with diversification benefits." Chinese stocks, especially those traded on the mainland, have historically been less correlated to global market moves due to Beijing's capital controls and other restrictions.

Persons: Matt Wacher, William Yuen, Invesco, That's, Steven Sun, Paul Christopher, Morningstar's Wacher, it's, Wacher Organizations: Nasdaq, Nikkei, Morningstar Investment Management, U.S, HSBC, Technology, Shanghai —, Bank of, Federal Reserve, Treasury, HSBC Qianhai Securities, National Bureau, Statistics, Wells, Wells Fargo Investment Institute, Index Locations: Asia, U.S, Shanghai, China, Pacific, EPFR, Hong Kong, Bank of China, Wells Fargo

Chuo Ward, Tokyo, Japan - February 23, 2018; Top luxury shopping streets with multi colored neon signs. For the first half of the year, luxury group LVMH this week reported " exceptional growth in Japan arising in particular from purchases made by Chinese travelers." SHANGHAI — Luxury brands are seeing a surge in sales in Japan, largely driven by purchases from Chinese travelers taking advantage of a weak yen, according to earnings results this month. The income segment covers families in mainland China earning at least 30,000 yuan a month ($4,140, or about $50,000 a year). besides Hong Kong, across most luxury brands."

Persons: Yves, Yves Saint Laurent, Trip.com, Xiao Hong Shu, netizen, Oliver Wyman, Louis Organizations: Yves Saint, Burberry, U.S, Federal Reserve, Bank of Japan, South, Japan National Tourism Organization, CNBC Locations: Chuo Ward, Tokyo, Japan, Ginza, China, Southeast Asia, SHANGHAI, South Korea, Weibo, Sapporo, Hong Kong, Malaysia, France, Asia

☆ China to use ultra-long bonds for consumer, trade-in policy support as worries about retail sales slump grow
▼ + stars: | 2024-07-25 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

CNBC | Evelyn ChengSHANGHAI — China on Thursday announced its most targeted measures yet for boosting consumption, which has remained lackluster since the Covid-19 pandemic. Authorities announced they would allocate 300 billion Chinese yuan ($41.5 billion) in ultra-long special government bonds to expand an existing trade-in and equipment upgrade policy. He noted how the new policy links Beijing's ultra-long bond program — announced in March — with consumption. The National Development and Reform Commission on Thursday then announced the expanded policy to support consumption. He noted that the 300 billion yuan designation also reflects "a new way of thinking" which can have impact at scale.

Persons: Evelyn Cheng, Zong Liang, —, Zong, Bruce Pang Organizations: CNBC, Thursday, Authorities, National Development, Reform, Ministry of Finance, Bank of, People's Bank of Locations: Evelyn Cheng SHANGHAI, China, People's Bank of China, JLL

☆ Chinese researchers test robot ‘guide dogs’ to help the visually impaired
▼ + stars: | 2024-07-08 | by ( Story Reuters | ) edition.cnn.com time to read: +2 min

Shanghai — It’s less furry than a traditional companion, but a six-legged Chinese robot “guide dog” could one day help vision impaired people live with more independence, according to its research development team in Shanghai. The robot dog, which is currently being field-tested, is able to navigate its physical environment via cameras and sensors, including recognizing traffic light signals, which traditional guide dogs are unable to do. “If this robot guide dog comes onto the market and I could use it, at least it could solve some of my problems in traveling alone,” Li said. In China, there are just over 400 guide dogs for almost 20 million blind people, Gao said. “I think this could be a very large market, because there might be tens of millions of people in the world who need guide dogs.”

Persons: ”, Gao Feng, Jiao, Li Fei, Zhu Sibin, Li, Zhu, ” Li, Gao, “ Organizations: Shanghai, Jiao Tong University’s, of Mechanical Engineering, Jiao Tong University Locations: Shanghai, Australia, Britain, China, Labrador

☆ Chinese EV startup Nio is changing its global strategy with U.S., EU tariffs on the horizon
▼ + stars: | 2024-05-16 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

NIO launches its second brand ONVO and its first model L60 on May 15. SHANGHAI — Chinese electric car startup Nio is adjusting its approach to global markets in light of geopolitical developments, CEO William Li told reporters Thursday. Nio launched its lower-priced brand Onvo on Wednesday with a new L60 SUV that's about $4,000 cheaper than Tesla's Model Y. "For example, in Europe we previously used a direct sales method," said Li, who founded Nio about 10 years ago. That can include local distribution or production, Li said, describing the strategy overall as "global capability, local operation."

Persons: Ai Tiecheng, NIO, ONVO, William Li, Li, Nio, BYD Organizations: NIO, CNBC, GAC's Locations: Shanghai, China, SHANGHAI, Europe

☆ Tesla's Chinese rival Nio launches a new brand and car that undercuts the Model Y by $4,000
▼ + stars: | 2024-05-15 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

In this article 9866-HK Follow your favorite stocks CREATE FREE ACCOUNTChinese electric car company Nio launched its lower-cost brand Onvo on Wednesday, May 15, 2024, in Shanghai, China. CNBC | Evelyn ChengSHANGHAI — Chinese electric car company Nio revealed Wednesday that the first car for its new, lower-priced brand, Onvo, will be about $4,000 cheaper than Tesla's comparable Model Y. Elon Musk's electric SUV has been one of the best-selling pure battery-powered electric cars in China. watch nowFierce competition in China's electric car market has invited new entrants and prompted many companies to cut prices. Smartphone company Xiaomi in late March entered the electric car market with its SU7 sedan to rival Tesla's Model 3 with a price that was also about $4,000 cheaper.

Persons: Nio, Evelyn Cheng SHANGHAI, William Li, Onvo, CNBC's Eunice Yoon, Elon, Xiaomi, BYD, Li, Biden, Tesla Organizations: HK, CNBC, Onvo's, Tesla's, Elon Musk's Locations: Shanghai, China, Europe, .

☆ Baidu’s robotaxi unit expects to turn profitable next year
▼ + stars: | 2024-05-15 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

A driverless robotaxi autonomous vehicle developed by Baidu Apollo driving along a street in Beijing. SHANGHAI — Chinese tech company Baidu said Wednesday its Apollo Go robotaxi arm expects to turn profitable next year. The projection comes as Elon Musk has emphasized his plans to build up Tesla's robotaxi efforts amid a decline in revenue. Baidu on Wednesday announced Apollo's 6th generation robotaxi will cost around 200,000 yuan ($28,169) — or less than half that of the prior generation, the company said. Others in the auto industry remain more skeptical about fully driverless cars, which require broad regulatory approval in order to operate.

Persons: Elon Musk, Apollo, Baidu, Brian Gu Organizations: Baidu, Wednesday, China Securities Regulatory Commission, Xpeng Locations: Beijing, SHANGHAI, Wuhan, China

☆ In the Arts, Is It Breaking Big, or Selling Out?
▼ + stars: | 2024-05-02 | by ( Farah Nayeri | ) www.nytimes.com time to read: +1 min

The 11-foot sculpture looks like something out of a comic strip: a luxury handbag perched on skinny legs and matched with high-end sneakers. The work is by the Austrian-born artist Erwin Wurm, and it represents accessories from the collections of Lanvin, the French fashion house. “Desire” (the title of the sculpture) was commissioned by Lanvin and unveiled in Beijing in early April. “I made this piece because it fit into my series,” Wurm, 69, said in a phone interview, referring to his “walking bag” sculptures, which parody women’s contemporary passion for handbags. “I reduce females to long legs and shoes and handbags.

Persons: Erwin Wurm, “, ”, Lanvin, ” Wurm Organizations: Shanghai —, Fosun Foundation, Fosun Locations: Austrian, Beijing, Shanghai

☆ China FDI: Foreign investors are really frustrated with country’s economic challenges
▼ + stars: | 2023-11-06 | by ( Manav Tanneeru | Laura He | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —The world’s second largest economy is struggling to attract foreign companies and investments, despite Beijing’s efforts to address its myriad economic challenges, according to new data from China. A gauge of foreign direct investment (FDI) into China has slipped into the red for the first time since 1998, underscoring the country’s failure to stem capital outflows. It suggests foreign companies may be taking their money out of the country, instead of re-investing in their operations. Direct investment liabilities include profits belonging to foreign companies that have not yet been repatriated or distributed to shareholders, as well as foreign investment in financial institutions, according to the government. Late last month, China’s legislature approved one trillion yuan ($137 billion) in sovereign bonds to support the economy.

Persons: Refinitiv, Ant, “, Xu jingbai, ICHPL, Xi Jinping, ”, ” Carlo D’Andrea, Shanghai —, JP Morgan, Tesla Organizations: Hong Kong CNN, State Administration of Foreign Exchange, Commerce Ministry, Vanguard, BlackRock, CNN, Bloomberg, China, European Union Chamber of Commerce, People’s Bank of, HSBC, American Chamber of Commerce Locations: China, Hong Kong, Shanghai, Beijing, outflows, People’s Bank of China

☆ Chinese EV maker Nio releases a smartphone it expects at least half of its users to buy
▼ + stars: | 2023-09-21 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Chinese electric vehicle maker Nio launches a smartphone at an event in Shanghai on Sept. 21, 2023. He told CNBC that among Nio users from which the company makes a profit, more than half are iPhone users, while the other half uses flagship Android phones from Huawei and other brands. Nio is the first high-end Chinese electric car brand to release its own smartphone, which Li said the company developed in about a year. Huawei also sells its in-car software to other electric car companies such as Avatr and BAIC's Arcfox. He pointed out that the Nio phone app has 600,000 active users a day, about 1.5-times the number of car users.

Persons: Evelyn Cheng, William Li, Li, Nio Organizations: CNBC SHANGHAI, CNBC, Huawei, Apple Locations: Shanghai, China, Europe, Germany

☆ Huawei says applying 5G technology to business was more difficult than expected
▼ + stars: | 2023-06-29 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Huawei Technologies Chief Financial Officer Meng Wanzhou reacts as she leaves her home to attend a court hearing in Vancouver, Canada, August 10, 2021. SHANGHAI — Huawei's Chief Financial Officer Meng Wanzhou said Wednesday that applying 5G technology to business was more difficult than she had expected. One of the expectations for 5G connectivity is that beyond faster mobile phone connections for individual consumers, the technology can better enable self-driving vehicles and factory automation. Meng said the challenges of bringing 5G to business was underestimated and that it's completely different than previous 2G, 3G or 4G generations. Meng was speaking at a keynote session at the Shanghai Mobile World Congress on Wednesday, where she spoke broadly about the benefits of 5G to consumption and the economy.

Persons: Meng Wanzhou, SHANGHAI —, Meng Organizations: Huawei Technologies, Shanghai Mobile Locations: Vancouver, Canada, SHANGHAI

☆ Dyson doubles down on Singapore and ramps up hiring globally
▼ + stars: | 2023-06-20 | by ( Nessa Anwar | ) www.cnbc.com time to read: +3 min

The company is trying to hire another 2,000 engineers globally, according to Dyson's director of upstream robotics, Kashyap Chandrasekar. The Dyson 360 Vis Nav robot vacuum is displayed at the company's headquarters at St. James Power Station in Singapore in May 2023. Lauren Choo | CNBCAnother Dyson device that has garnered attention, due to its futuristic look, is the Dyson Zone — headphones that double as a wearable purifier. Dyson's global investment planSince its inception in 1991, founder Sir James Dyson has been set on pioneering new technology. The company currently has a £2.75 billion investment plan divided across Singapore, the U.K. and the Philippines.

Persons: Dyson, John Churchill, Kashyap Chandrasekar, Lauren Choo, Churchill, We'll, Sir James Dyson, they're Organizations: Robotics, James Power, CNBC, Dyson, St Locations: St, Singapore, United Kingdom, Philippines, Malaysia, Shanghai, Batangas

☆ Dimon calls for Washington-Beijing engagement in first China visit since 2021 controversy
▼ + stars: | 2023-05-31 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

JPMorgan Chase & Co CEO Jamie Dimon on Wednesday called for "real engagement" between policymakers in Washington and Beijing, as Sino-U.S. relations continue to fray. Speaking at the JPMorgan Global China Summit in Shanghai — in his first visit to China since his 2021 apology for joking that JPMorgan would outlast the Chinese Communist Party — Dimon said that security and trade disputes between the world's two largest economies over are "resolvable." "You're not going to fix these things if you are just sitting across the Pacific yelling at each other, so I'm hoping we have real engagement," Dimon said, according to Reuters. In November 2021, Dimon expressed "regret" over remarks that JPMorgan would outlast China's ruling party, seeking to limit damage to the bank's growth ambitions in the country. The comments that invoked Beijing's ire came shortly after JPMorgan won regulatory approval to become the first foreign company to establish full ownership of a securities brokerage in China.

Persons: Jamie Dimon, Chinese Communist Party — Dimon, Dimon, JPMorgan Organizations: JPMorgan Chase, Company, Banking, Housing, Urban Affairs, Capitol, JPMorgan Global China Summit, Chinese Communist Party, Reuters, East, JPMorgan, Top U.S Locations: Washington , U.S, Washington, Beijing, U.S, Shanghai —, China, West, Top, South China

☆ In China, It’s Time to Splurge Again, and the Luxury Industry Is Relieved
▼ + stars: | 2023-05-02 | by ( Elizabeth Paton | Keith Bradsher | ) www.nytimes.com time to read: +1 min

This time last year, Shanghai — China’s capital of fashion and luxury — was in the throes of a ruthlessly enforced Covid lockdown. The city’s glittering high-end malls and avenues lined with flagship stores stood practically empty. Ms. Zhang, who works for a consulting firm, used to buy six handbags a year. “I change my handbag every day,” Ms Zhang added. “I felt that everything was meaningless during the Shanghai lockdown, so we should enjoy the present moment in time.”

☆ Chinese EV giant BYD says self-driving tech is more valuable for factories than cars
▼ + stars: | 2023-04-19 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BYD's new luxury brand Yangwang is selling its first model, the U8, for more than 1 million yuan ($160,000). SHANGHAI — Fully autonomous driving is "basically impossible" and the technology would be better applied to manufacturing, according to Chinese battery and electric car company BYD . Many electric car and tech companies are working on self-driving technology. But BYD, by far the largest domestic seller of electric cars in China, has taken a different view. "We think self-driving tech that's fully separated from humans is very, very far away, and basically impossible," Li Yunfei, a spokesperson for BYD, said in Mandarin, translated by CNBC.

☆ Nio says it won't join the 'price war' and slash prices like Tesla
▼ + stars: | 2023-04-18 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

watch nowSHANGHAI — Chinese electric car company Nio will keep its prices high rather than cut them, CEO William Li told CNBC in an interview. "For us, we will certainly not join the price war," Li said, claiming Nio's products and services are worth the price. Tesla , Elon Musk's car company, this year slashed prices in the U.S. and China. New energy vehicles — which includes hybrid and pure electric — saw penetration of passenger car sales reach 34% in March, according to the China Passenger Car Association. Within that market, Nio said it delivered 31,041 vehicles in the first quarter, up by 20.5% year-on-year.

☆ Tesla to Build Factory in Shanghai for Large-Scale Batteries
▼ + stars: | 2023-04-09 | by ( ) www.nytimes.com time to read: 1 min

SHANGHAI — Tesla will build a factory in Shanghai to manufacture its large-scale energy-storage batteries known as the Megapack, the Chinese state news agency Xinhua reported on Sunday. Tesla, which is owned by Elon Musk, will break ground on the plant in the third quarter of this year and start production in the second quarter of 2024, Xinhua reported. The new factory will complement Tesla’s existing plant in Shanghai, where it makes electric vehicles, and it will initially produce 10,000 Megapacks a year, equal to around 40 gigawatt-hours of energy storage, to be sold globally, Xinhua said. With the new plant, Tesla will take advantage of China’s dominant battery supply chain to increase output of its Megapacks, and to lower their costs, in hopes of meeting the rising global demand for energy storage as the world shifts to using more renewable energy.

☆ China new home sales rise sharply in March - survey
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +2 min

BEIJING, April 3 (Reuters) - China's new home sales rose sharply in March, as a slew of support policies boosted a pickup in demand across the board in 14 surveyed cities, a private survey showed on Monday. The sales of new homes rose 55.7% month-on-month, up from growth of 31.9% in February, according to data from the China Index Academy — one of the country's largest independent real estate researchers. Tier-one cities — including the nation's capital Beijing and the commercial hub of Shanghai — rose the fastest, jumping 73% last month. Sales in tier-two cities and tier-three cities grew 54.7% and 28.6%, respectively. Prices of new homes in 100 Chinese cities rose at the fastest pace in nine months in March, a separate survey by the researcher showed on Saturday.

☆ Xpeng expands assisted driving tech coverage to Shanghai, something Tesla doesn’t offer in China
▼ + stars: | 2023-03-31 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

SHANGHAI — Chinese electric car company Xpeng announced Friday it will be rolling out its latest assisted driving software to users in the metropolis of Shanghai, something its U.S. rival Tesla does not offer in China. Previously the technology was only available for Xpeng drivers in Shenzhen and Guangzhou. The company already offers assisted driving on highways in China. But the company has tried to make its assisted driving technology a selling point for consumers. "Tesla doesn't really pump Autopilot in China and they don't offer Full Self Driving (FSD) in China, whereas Xpeng really leaned into its NGP as a difference maker for the China market," said Tu Le, founder of Beijing-based advisory firm Sino Auto Insights.

☆ They Poured Their Savings Into Homes That Were Never Built
▼ + stars: | 2023-01-24 | by ( Isabelle Qian | Agnes Chang | ) www.nytimes.com time to read: +13 min

We talked to four people who emptied their life savings and took out huge loans for homes that have not been completed. “It was a simple dream — to have a home, a family,” Mr. Tang said. Mr. Tang, who works in a restaurant, sold a small place he had out in the countryside. “When I think about the unfinished apartment, it’s as if I’m falling from heaven to hell, ” Mr. Tang said. Homeowners atop one of the unfinished apartment towers call for construction to fully resume.

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