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How China Became the World’s Largest Car ExporterChina 5.7 million cars exported Japan Mexico Germany South Korea Top car exporters in the world United States 2016 2020 2024 China 5.7 million cars exported Japan Mexico Germany South Korea Top car exporters in the world United States 2016 2020 2024 China 5.7 million cars exported Japan Mexico Germany South Korea Top car exporters in the world United States 2016 2020 2024 Source: Alix Partners Note: 2024 values are estimated. Domestic sales 20 Exports 0 2010 2015 2020 2024 Production capacity 40 million cars Car production capacity has risen faster than sales. Mr. Wen gave him essentially a blank check to make China the world’s leader in electric cars. Last year, most of the cars China sold abroad were traditional gasoline engine cars. China has more than 100 factories with a combined capacity to build close to 40 million internal combustion engine cars a year.
Persons: Alix, Donald J, Trump, Wen Jiabao, Wen, Carmakers Organizations: China, Japan Mexico Germany South, Alix Partners, European Union, China’s, Communist Party, Wan, Audi, America, UNITED STATES, BRAZIL, UBS, China Volkswagen, Volkswagen Locations: China, Japan Mexico Germany, Japan Mexico Germany South Korea, States, United States, Asia, Thailand, Philippines, Germany, Europe, Southeast Asia, Shanghai, Russia, Ukraine, Latin America, TURKEY, India, Brazil, Turkey, U.S
[1/3] China's Premier Li Keqiang waves as he arrives for a news conference after the closing ceremony of China's National People's Congress (NPC) at the Great Hall of the People in Beijing, China, March 15, 2017. Li was premier and head of China's cabinet under Xi for a decade until stepping down from all political positions in March. Adam Ni, an independent China political analyst, described Li as "a premier who stood powerless as China took a sharp turn away from reform and opening". A glowing 2014 state media profile of Li, praising him as "a calm and tough wall-breaker", went viral shortly after his death was announced. Li's frequent visits to disaster sites and his easy camaraderie when speaking to ordinary people were also highlighted on Chinese state media.
Persons: Li, Damir Sagolj, Li Keqiang, Xi Jinping, Xi, Deng Xiaoping, Alfred Wu, Lee, Zhu Rongji, Wen Jiabao, Wu, Adam Ni, Jiang Zemin, Deng, Li Yining, Hu Jintao, Cheng Hong, Laurie Chen, Tian, William Mallard Organizations: People's Congress, of, People, REUTERS, Rights, Communist Party, CCTV, Weibo, Australian National University, Lee Kuan Yew, of Public Policy, Peking University, Communist Party's Youth League, Youth League, Shanghai, Thomson Locations: Beijing, China, Rights BEIJING, Shanghai, Singapore, Social, Anhui, Henan, Liaoning
China’s growth is buried under great wall of debt
  + stars: | 2023-09-13 | by ( Yawen Chen | ) www.reuters.com   time to read: +8 min
Most of these 3,000-plus entities were created by local governments during the 2008 crisis to skirt a central government ban on direct state borrowing. These vehicles had already accumulated 80 trillion yuan of liabilities at the end of 2022, according to analysts at Guosheng Securities. At a more optimistic 30% discount, the proceeds would jump to 55 trillion yuan, which would cover all outstanding interest-bearing debt. S&P analysts calculate that about 20 trillion yuan of LGFVs’ loans may be at risk of restructuring. If Xi won't boost property wholeheartedly and is not able to count on consumers, his efforts to revive China’s growth have to focus on smashing the great wall of local debt.
Persons: Wen Jiabao, Xi Jinping, Wen, Xi, Peter Thal Larsen, Sharon Lam, Aditya Sriwatsav Organizations: Reuters, HK, Guosheng Securities, Citi, Finance, Reuters Graphics, Financial Times, Investment, Oxford Economics, Thomson Locations: Beijing, China, Shanghai, New York, China's Southwestern Guizhou, United States
In the darkest moments of the financial crisis in 2008, former Chinese Premier Wen Jiabao lectured a group of U.S. government officials and business executives in New York. “In the face of economic difficulties,” he said, “confidence is more precious than gold.”The Chinese economy then was teetering. Today it’s sputtering, facing the dimmest prospects in decades, and China’s leaders are learning the hard way exactly what Mr. Wen meant. Beijing unveiled a 31-point set of guidelines on Wednesday to bolster the confidence of the private sector. But in private, others I interviewed dismissed the party’s pep talk in words that can be best translated as, “Save it for the suckers.”
Persons: Wen Jiabao, , Wen Organizations: , Communist Party Locations: New York, Beijing, Hong Kong
China's Tiananmen Square demonstrations and crackdown
  + stars: | 2023-06-04 | by ( ) www.reuters.com   time to read: +4 min
Tanks rolled into the square before dawn on... Read moreJune 4 (Reuters) - Sunday is the 34th anniversary of China's bloody crackdown on pro-democracy demonstrations in and around central Beijing's Tiananmen Square, when Chinese troops opened fire on their own people. April 17: Protests begin at Tiananmen Square, with students calling for democracy and reform. May 13: Hundreds of students begin a hunger strike on Tiananmen Square. May 30: Students unveil a 10-metre (33 ft) high "Goddess of Democracy", modelled on the Statue of Liberty, in Tiananmen Square. June 5: An unidentified Chinese man stands in front of a tank convoy leaving Tiananmen Square.
Persons: Read, Hu Yaobang, Mikhail Gorbachev, Gorbachev, Zhao Ziyang, Li Peng, Wen Jiabao, Zhao, Li, Butcher, Yuan Mu, Deng Xiaoping, Ben Blanchard, Robert Birsel Organizations: Communist Party, of, Asian Development Bank, People, Paramount, Thomson Locations: Tiananmen, Beijing, China, Xian, Changsha, Shanghai, Great
BEIJING, Oct 16 (Reuters) - Chinese former Vice Premier Zhang Gaoli made his first public appearance on Sunday since Chinese tennis star Peng Shuai accused him of sexual assault last year, attending the 20th Communist Party Congress. Her post led the Women's Tennis Association to suspend tournaments in China and caused an international outcry over her safety. Hu, 79, slightly unsteady but appearing healthy, followed immediately behind Xi onto the stage and sat next to Xi. Other retired leaders on the rostrum included other former members of the party's elite Standing Committee, which rules China, including Jia Qinglin and Zeng Qinghong. Register now for FREE unlimited access to Reuters.com RegisterReporting by Yew Lun Tian; Writing by Ben Blanchard and William MallardOur Standards: The Thomson Reuters Trust Principles.
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