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☆ ByteDance founder tops China's rich list for the first time, beating Tencent and Nongfu heads
▼ + stars: | 2024-10-29 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

ByteDance founder Zhang Yiming for the first time has emerged as China's richest person, according to a list compiled by Hurun Research Institute, leaving behind Nongfu Spring Chairperson Zhong Shanshan who has topped the rankings for three years. Midea founder He Xiangjian and CATL's CEO Zeng Yuqun took fifth and sixth places on the list. "The Hurun China Rich List has shrunk for an unprecedented third year running, as China's economy and stock markets had a difficult year," said Rupert Hoogewerf, Hurun report chairman and chief researcher. The current rich list predominantly comprises entrepreneurs from the technology, consumer electronics and new energy space, from what used to be dominated by real estate developers, Hoogewerf noted. "The stories of the individuals on the Hurun China Rich List tell the story of the Chinese economy," he said.

Persons: Zhang Yiming, Zhong Shanshan, Zhang, Zhong, ByteDance, Hurun, Ma Huateng, Colin Huang, Xiangjian, Zeng Yuqun, Rupert Hoogewerf, Hoogewerf, ByteDance's Zhang, Huang Organizations: Hurun Research Institute, Nongfu, Research Locations: Shanghai, China

BEIJING, June 5 (Reuters) - U.S. automaker Tesla Inc (TSLA.O) delivered 77,695 China-made electric vehicles (EVs) in May, a 2.4% jump from April, data from the China Passenger Car Association (CPCA) showed on Monday. Chinese rival BYD Co Ltd (002594.SZ), with its Dynasty and Ocean series of EVs and petrol-electric hybrid vehicles, logged sales of 239,092 vehicle in May, up 14% from April, CPCA data showed. CPCA is scheduled to release more detailed car sales figures for May later this month. Tesla has been under intense focus in China in recent weeks, amid an unannounced, high-stakes visit from boss Elon Musk. Musk visited Tesla's Shanghai factory late on Wednesday and met with Chen Jining, the ruling party's Shanghai secretary, on Thursday.

Persons: CPCA, Tesla, Elon Musk, Ding Xuexiang, Musk's, Zeng Yuqun, Musk, Chen Jining, Chen, Qiaoyi Li, Zhang Yan, Brenda Goh, Louise Heavens, Bernadette Baum Organizations: U.S, Tesla Inc, China Passenger Car Association, BYD Co, Reuters, Amperex Technology Co, Thomson Locations: BEIJING, China, Shanghai, Beijing

☆ Elon Musk says his Shanghai factory makes the ‘highest quality’ Teslas
▼ + stars: | 2023-06-02 | by ( Laura He | ) edition.cnn.com time to read: +4 min

It was the first time Musk has visited the country since January 2020, when a video of him dancing onstage at Tesla’s Shanghai factory went viral. Before leaving, Musk met Chen Jining, the Communist Party chief of Shanghai, according to a statement by the city government. Musk praised the success of Tesla’s Shanghai facility — which opened in 2019 — and said he was hoping to work more with the city in various areas, the statement said. In 2022, the company delivered 1.31 million vehicles globally, more than half of which were from Shanghai, according to its financial results. “Congratulations to Giga Shanghai & Tesla China SDS teams for their excellent work overcoming many obstacles over many years!!

Persons: Hong Kong CNN —, Elon Musk, Musk, Chen Jining, Chen, Tesla, —, Variflight, ”, “, ” Musk, “ It’s, ” “, Elon, Jade Gao, Qin Gang, didn’t, Zeng Yuqun Organizations: Hong Kong CNN, Communist Party, Beijing Capital International Airport, Getty, Financial Times, Twitter, Giga Shanghai, Tesla China SDS, EV, CNN Locations: Hong Kong, China, Shanghai, Shanghai’s Hongqiao, Beijing, AFP, United States, Weibo

☆ Republican presidential candidate slams Elon Musk for saying the US and China's interests are 'intertwined like conjoined twins'
▼ + stars: | 2023-06-01 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Vivek Ramaswamy has called some of Musk's comments to Chinese officials "deeply concerning." According to Chinese officials, Musk said he's opposed to the two nations weakening economic ties. Republican candidate Vivek Ramaswamy has called some of Elon Musk's comments to Chinese officials "deeply concerning." According to a statement from the Chinese foreign ministry, Musk told officials he's opposed to the two countries weakening their economic ties. He described the US and China's interests as "intertwined like conjoined twins," according to the ministry's statement.

Persons: Vivek Ramaswamy, Musk, he's, Elon Musk's, he'd, Ramaswamy, Ma, Zeng Yuqun, Fu, Tesla, Ray Dalio, Matthew Loh Organizations: Morning, Twitter, Chinese Communist Party, Weibo, Reuters, Fu Yan Locations: China

☆ Elon Musk wrapped up his first visit to China in years. Here's what the Tesla CEO was up to
▼ + stars: | 2023-06-01 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

His first visit in 3 years saw the Tesla CEO meet with top government officials and speak to staff at the Shanghai Gigafactory. Tesla opposes "decoupling" and is willing to continue to expand its business in China, the statement said. On Wednesday, Musk met with Jin Zhuanglong, China's minister of industry and information technology. On Thursday, Musk met with Chen Jining, the Shanghai party secretary. Musk visits the Shanghai Gigafactory

Persons: Elon Musk, Ding Ting, Musk, Qin Gang, Qin, Tesla, Jin Zhuanglong, Chen Jining, Tesla's, Chen, Ding Xuexiang, Ding, Xi Jinping, Xi, Zeng Yuqun, Zeng, CATL Organizations: Xinhua News Agency, Getty, Musk, Reuters, EV, CATL, CNBC, Bloomberg, Shanghai Locations: China, Shanghai, U.S

☆ Musk's China visit ends with burgers for 100 Shanghai Tesla workers — and favor from Beijing as state-affiliated media showcases trip on Twitter
▼ + stars: | 2023-06-01 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +3 min

Elon Musk's surprise trip to China ended with burgers and soft drinks for Tesla staff in Shanghai. His trip was showcased on Twitter by Chinese state media. Elon Musk completed his whistle-stop tour of China by treating workers at Tesla's Shanghai plant to burgers and soft drinks, with his visit being showcased on Twitter by China's state-affiliated media. A video published online by Tesla's China team, seen by Insider, showed Musk delivering a speech to a crowd of workers at his Shanghai plant. Elon Musk visited workers at Tesla's Shanghai gigafactory after first China trip in three years.

Persons: Elon Musk's, Elon Musk, Tesla's, China Grace Tao, Grace Tao, Weibo Musk, Jack Ma, Zeng Yuqun, Tesla, Musk Organizations: Twitter, Bloomberg, Tesla's, Global Times, Communist Party's, Shanghai gigafactory Locations: China, Shanghai, Tesla's China, Beijing

[1/3] Tesla Chief Executive Officer Elon Musk stands near Chinese Commerce Minister Wang Wentao before leaving the Chinese Ministry of Commerce in Beijing, China May 31, 2023. Billionaire Elon Musk has been showered with praise by the Chinese public during his trip to China and while also securing audiences with three government ministers. "Elon Musk is just great, if only China could have someone like Elon Musk," said another. Musk's unannounced trip is the latest by a major U.S. CEO to China since the country reversed its zero-COVID policy and reopened its borders. The commerce ministry also did not respond to a request for comment.

Persons: Elon Musk, Wang Wentao, Tingshu Wang, Ma, Billionaire Elon Musk, Zeng Yuqun, Jin Zhuanglong, hasn't, Musk, Elon, Tim Cook, JP Morgan's, Jamie Dimon, Laxman Narasimhan, CATL's Zeng, Tesla, CATL, Martin Pollard, Josh Arslan, Wang Tingshu, Joe Cash, Zhang Yan, Brenda Goh, Edwina Gibbs Organizations: Tesla, Commerce, Chinese Ministry of Commerce, REUTERS, Tesla Inc, Fu Yan, Twitter, Shanghai, Thomson Locations: Beijing, China, Tingshu Wang BEIJING, U.S, Shanghai, United States

[1/2] Tesla Chief Executive Officer Elon Musk gets in a Tesla car as he leaves a hotel in Beijing, China May 31, 2023. REUTERS/Tingshu WangBEIJING, May 31 (Reuters) - Tesla Inc (TSLA.O) CEO Elon Musk kicked off his second day in China with visits to the country's commerce ministry and industry ministry. Musk left his hotel on Wednesday morning accompanied by Grace Tao, Tesla's China-based public affairs chief and Tom Zhu, head of global manufacturing. He next visited the Ministry of Industry and Information which has regulatory oversight of the automotive industry. Tesla and the ministries did not immediately reply to a request for comment on discussions with Musk.

Persons: Elon Musk, Tingshu Wang, Musk, Grace Tao, Tom Zhu, Wang Wentao, Tesla, Qin Gang, Zeng Yuqun, CATL, Martin Pollard, Josh Arslan, Wang Tingshu, Joe Cash, Zhang Yan, Brenda Goh, Edwina Gibbs Organizations: Tesla, REUTERS, Tesla Inc, Ministry of Industry, Foreign, Thomson Locations: Beijing, China, Tingshu Wang BEIJING, Shanghai, United States

☆ Elon Musk visits China's commerce ministry
▼ + stars: | 2023-05-31 | by ( ) www.cnbc.com time to read: +1 min

Chinese State Councilor and Foreign Minister Qin Gang meets Tesla Chief Executive Officer Elon Musk in Beijing, China, in this handout image released by China's Ministry of Foreign Affairs May 30, 2023. Tesla CEO Elon Musk kicked off his second day in China with a visit to the country's commerce ministry on Wednesday morning. A day earlier, he met with Chinese Foreign Minister Qin Gang. Tesla and CATL did not respond to requests for comment on the meeting or on Musk's plans in China. He declined to comment at the hotel when questioned by reporters about the aim of his trip, Tesla's prospects in China and plans for Tesla's plant in Shanghai.

Persons: Qin, Elon, Elon Musk, Qin Gang, Zeng Yuqun, CATL, Musk, Tesla's, Grace Tao, Tom Zhu Organizations: Qin Gang, China's Ministry of Foreign, Foreign, CATL Locations: Beijing, China, Tesla's China, Shanghai, U.S

☆ Elon Musk hailed as 'Brother Ma' during a trip to China, where he's been lavished with a 16-course meal and treated like a king
▼ + stars: | 2023-05-31 | by ( Hasan Chowdhury | Cheryl Teh | ) www.businessinsider.com time to read: +3 min

During a surprise visit to the country, Musk has been inundated with high praise, Reuters reported. His trip has caused a social-media storm, with people eager to recommend places for him to visit. It was the Tesla and Twitter boss's first trip to China in three years, making his visit a high-profile affair for members of the public. Pictures of what's thought to be the menu for Musk's dinner in China are circulating on China's Twitter-like Weibo platform. Screengrab/WeiboReuters reported the evening included a 16-course meal shared with battery executive Zeng Yuqun at the Man Fu Yan restaurant.

Persons: Elon Musk, Musk, Jack Ma, Ma, Zeng Yuqun, Fu, Xi, Tesla Organizations: Reuters, Morning, Twitter, Weibo Reuters, Fu Yan Locations: China, Beijing, Weibo, Peking, Taiwan, Ukraine

☆ 6 photos of Elon Musk's visit to China, from a 16-course dinner to meetings with Chinese officials
▼ + stars: | 2023-05-31 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

Photos from the visit show Musk's private jet landing and the Tesla CEO's 16-course meal. Elon Musk touched down in China for the first time in three years on Tuesday — a key trip for the Tesla chief. Musk met with Chinese Foreign Minister Qin Gang. Musk is one of several US CEOs to visit China in recent months. Some analysts have hailed Musk's visit to China as a positive sign.

Persons: Elon Musk, Musk, Elon, Tingshu Wang, Ma, Jack Ma, Tom Zhu, Grace Tao, Qin Gang, Qin, he's, Zeng Yuqun, Fu Yan, Jin Zhuanglong, Tesla, CNBC's David Faber, Li Keqiang, Li Qiang, Dan Ives Organizations: Morning, Tesla, Twitter, REUTERS, Reuters, Tesla's, Beijing REUTERS, Chinese Ministry of Commerce, Foreign, China's Ministry of Foreign Affairs, Amperex Technology, Weibo, Associated Press, Apple, Getty Locations: China, Beijing, Austin , Texas, Anchorage , Alaska, People's Republic of China, Shanghai

☆ China's CATL to start mass production, delivery of M3P batteries this year
▼ + stars: | 2023-03-24 | by ( ) www.reuters.com time to read: 1 min

SHANGHAI, March 24 (Reuters) - Chinese battery giant CATL (300750.SZ) plans to start mass production and delivery of batteries based on a new materials technology, M3P, which will perform better but cost less than nickel and cobalt-based batteries, its chairman said. Zeng Yuqun made the comments in an online investor briefing on Friday. M3P batteries will have greater energy density and perform better than lithium-ion phosphate batteries, a market CATL dominates, but will be cheaper than nickel and cobalt-based batteries, he added. Reporting by Zhang Yan and Brenda GohOur Standards: The Thomson Reuters Trust Principles.

☆ China's Xi tells CATL he has mixed feelings about its battery market dominance
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +2 min

[1/2] Chinese President Xi Jinping attends the opening session of the Chinese People's Political Consultative Conference (CPPCC) at the Great Hall of the People in Beijing, China March 4, 2023. REUTERS/Thomas PeterSHANGHAI, March 7 (Reuters) - Chinese President Xi Jinping told CATL (300750.SZ) on Monday he had mixed feelings about its status as the world's largest battery maker - remarks that come at a time when the company is rapidly expanding abroad and moving to undercut domestic rivals. After a presentation by CATL Chairman Zeng Yuqun who described how the firm commands 37% of the global battery market, Xi was quoted as saying that he was "both happy and worried", glad about its leading position but concerned about the risks. "Emerging industries must do a good job in planning, figuring out how big the market is and where the risks are. CATL's shares fell 1.6% on Tuesday, in line with a decline in China's blue chip CSI300 Index.

☆ China's Xi has mixed feelings about CATL's battery market dominance
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +3 min

[1/2] Chinese President Xi Jinping attends the opening session of the Chinese People's Political Consultative Conference (CPPCC) at the Great Hall of the People in Beijing, China March 4, 2023. "Emerging industries must do a good job in planning, figuring out how big the market is and where the risks are," Xi was quoted as saying. At the same time, it has come under growing pressure from Washington, which has restricted Chinese companies' access to advanced AI chips and other semiconductors, citing national security. The Ford-CATL partnership will be win-win for both parties without threatening China's leadership in the EV industry, Dong wrote. Reporting by Zhang Yan and Brenda Goh Editing by Edwina Gibbs and David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ China's super-rich see fortunes plunge as economy slows
▼ + stars: | 2022-11-08 | by ( Brenda Goh | ) www.reuters.com time to read: +2 min

Nov 8 (Reuters) - China's super-rich saw their wealth tumble by the most in over two decades this year, as the Russia-Ukraine war, Beijing's zero-COVID measures and falling mainland and Hong Kong stock markets pummelled fortunes, an annual rich list said on Tuesday. The Hurun Rich list, which ranks China's wealthiest people with a minimum net worth of 5 billion yuan ($692 million), said only 1,305 people made the mark this year, down 11% from last year. "This year has seen the biggest fall in the Hurun China Rich List of the last 24 years," said Rupert Hoogewerf, chairman and chief researcher of research firm Hurun Report which compiles the list. The founder of TikTok owner ByteDance, Zhang Yiming, took second place, but saw his wealth fall 28% to $35 billion due to a drop in ByteDance's valuation. Tencent founder Pony Ma posted the second largest drop in wealth of $14.6 billion amid sliding tech stock prices, to take fifth place on the list.

☆ Alibaba’s Jack Ma and China’s super-rich see billions wiped off fortunes as economy slows
▼ + stars: | 2022-11-08 | by ( Story Reuters | ) edition.cnn.com time to read: +2 min

China’s super-rich saw their wealth tumble by the most in over two decades this year, as the Russia-Ukraine war, Beijing’s zero-Covid measures and falling mainland and Hong Kong stock markets pummeled fortunes, according to an annual rich list. Tencent founder Pony Ma posted the second largest drop in wealth amid sliding tech stock prices. The founder of TikTok owner ByteDance, Zhang Yiming, took second place, but saw his wealth fall 28% to $35 billion due to a drop in ByteDance’s valuation. Tencent (TCEHY) founder Pony Ma posted the second largest drop in wealth of $14.6 billion amid sliding tech stock prices, to take fifth place on the list. Alibaba (BABA) founder Jack Ma and his family tumbled four places to be ranked No.

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