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☆ What is fast fashion, and why is it so controversial?
▼ + stars: | 2023-11-24 | by ( Amaya Mcdonald | Taylor Nicioli | ) edition.cnn.com time to read: +7 min

But while cheap chic may seem like the way to go, the fast fashion industry sees clothing pushed out on a scale that is even too large for most consumers to keep up with. Why is fast fashion so popular? Fast fashion accounts for “quick designs, quick manufacturing, quick marketing, quick retailing — it doesn’t leave the time to consider these bigger needs, like ethical considerations or rights of workers,” Osnes said. “The planet is on fire, and the truth is the fashion industry aids in a percentage of that.”Is ‘sustainable fashion,’ a viable alternative? But shop responsibly… try to use your budget to buy one good quality item,” Arya said, instead of a glut of fast fashion basics.

Persons: CNN —, Preeti Arya, Vox, Shein, Jade Gao, Beth Osnes, ” Osnes, “ It’s, ”, Aja Barber, Technology’s Preeti Arya, Richard Levine, Arya, ” Arya Organizations: CNN, Fashion Institute of Technology, New York Times, Times, Shein, Getty, United Nations Environment Programme, Greenpeace, George Washington University . Apparel, University of Colorado, Fashion Institute, Technology’s, Thrift Locations: New York, United States, Paris, Zara, Singapore, China, Guangzhou, AFP, India, Bangladesh, Pakistan

☆ China's not-so-special economic zone embodies a harsh new reality
▼ + stars: | 2023-11-16 | by ( David Kirton | ) www.reuters.com time to read: +9 min

REUTERS/David Kirton Acquire Licensing RightsSHENZHEN, China, Nov 16 (Reuters) - Tony Xiong is among the latest arrivals to the glitzy office towers in the newest part of Shenzhen, built to showcase China's economic miracle. Office workers are not the only ones grumbling about the unattractiveness of Qianhai, a special economic zone where Chinese dreams of global financial might and economic prosperity that once seemed inevitable are now darkened by half-empty skyscrapers and shopping malls as well as barely used motorways. And that's before China's tallest skyscraper of over 1,000 metres and a cluster of other towers are completed. With China entering a new era of sluggish growth, Qianhai may never reach the international status to which it aspires. The Qianhai Authority and China's State Council Information Office did not respond to Reuters requests for comment on the local and macro economic challenges.

Persons: David Kirton, Tony Xiong, Qianhai, Knight Frank, Antonio Fatas, Deng Xiaoping's, Xi Jinping, Xi, Zhiwu Chen, incentivised, Witman Hung, I've, Brian Miller, Klaus Zenkel, it's, Bill Deng, Zhang, James Pomfret, Marius Zaharia, David Crawshaw Organizations: REUTERS, Rights, Reuters, Authority, Communist Party, University of Hong, Qianhai Authority, HSBC, UBS, Standard Chartered, Chamber of Commerce, Greater, Thomson Locations: Shenzhen, Guangdong province, China, Rights SHENZHEN, Hong Kong, Beijing, Shanghai, China's, Qianhai, University of Hong Kong, Guangzhou, Hengqin, Macau, Nansha, South China, Greater Bay Area, . Hong Kong

New home prices in October dropped 0.3% month-on-month after a 0.2% dip in September, according to Reuters calculations based on National Bureau of Statistics (NBS) data. Once a key engine of economic growth accounting for around a quarter of China's economic activity, a regulatory crackdown since 2020 to curb debt has tightened liquidity and raised default risks for developers, delaying many projects. Out of 70 cities, 56 reported declines in monthly prices last month, marking the most cities number since October 2020, up from 54 in September. TWIST AND TURNSHouse prices in three major cities Beijing, Shenzhen and Guangzhou all fell month-on-month in October. For existing home, NBS data showed 67 cities posted month-on-month price declines in October, up from 65 in September.

Persons: Ma Hong, Ma, Liu Aihua, Zhang Dawei, Zhang, Liangping Gao, Ella Cao, Ryan Woo, Jacqueline Wong Organizations: National Bureau of Statistics, Authorities, Zhixin Investment Research Institute, Nomura, HK, Thomson Locations: BEIJING, Beijing, Shenzhen, Guangzhou

☆ Jeremy Lin: Basketball star revels in Taiwan homecoming with younger brother playing on same team
▼ + stars: | 2023-11-14 | by ( Andrew Mcnicol | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Former NBA sensation Jeremy Lin launched a “dream” 14th professional basketball season by playing alongside his younger brother last week in Taiwan, the island his parents left to emigrate to the United States. While playing for the Santa Cruz Warriors in the NBA G League amid the Covid-19 pandemic in 2021, Lin claimed he had been called “coronavirus” on court. By the end of the year, Lin had moved to the Chinese Basketball Association’s Beijing Ducks, and later the Guangzhou Loong Lions, in a chapter that was somewhat soured by the country’s strict pandemic regulations. Matt Beyer, co-founder and CEO of East Asia Super League and former agent for Chinese NBA trailblazer Yi Jianlian, said the impact of Lin’s presence in the region could not be underestimated. To have him now playing in the East Asia Super League is a huge draw for the fans.”

Persons: Hong Kong CNN —, Jeremy Lin, –, Joseph Lin, Lin, ”, Joseph, Matt Beyer, Yi Jianlian, ” Beyer, ‘ you’re Organizations: Hong Kong CNN, Hong Kong CNN — Former NBA, New, New Taipei City, South Korea’s SK Knights, Asian Super League, Fubon Braves, New York Knicks, NBA, Toronto Raptors, Santa Cruz Warriors, League, Asian, Basketball Association’s Beijing Ducks, Guangzhou Loong Lions, Taiwan’s Kaohsiung Steelers, East Asia Super League, Harvard, East Asia Super Locations: Hong Kong, Taiwan, United States, New Taipei, New Taipei Kings, Taiwan’s, California, Taipei, China

☆ An airline in China accidentally sold tickets for as little as $1.40 — and it's honoring the deal
▼ + stars: | 2023-11-10 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

China Southern Airlines sold tickets for as little as $1.40 due to an hours-long system glitch on Wednesday. Fares for a China Southern flight ticket from Chengdu to Beijing start around $55. AdvertisementAdvertisementA Chinese carrier said it is honoring air tickets priced as low as 10 Chinese yuan, or around $1.40, that were sold due to a system glitch. AdvertisementAdvertisementIt's unclear how many bargain-bin tickets China Southern sold and which flight routes were affected by the system glitch. AdvertisementAdvertisementIn April, some travelers managed to snag $10,000 roundtrip tickets on Japanese airline All Nippon Airways for just $300.

Persons: — Organizations: China Southern Airlines, China Southern, Service, . China Southern Airlines, Weibo, All Nippon Airways, ANA Locations: China, Chengdu, Beijing, Southwestern, Guangzhou

☆ China Shaken by String of Cancer Cases Tied to Top Oncology Lab
▼ + stars: | 2023-11-09 | by ( Selina Cheng | ) www.wsj.com time to read: 1 min

The level of risk faced by medical researchers has been a charged topic in China since the early days of the Covid-19 pandemic. Photo: str/Agence France-Presse/Getty ImagesHONG KONG—An unusual cluster of cancer cases among Chinese researchers affiliated with one of the country’s top oncology laboratories has attracted a wave of public attention, leading to new questions around lab safety. Two surgeons at Sun Yat-Sen Memorial Hospital in the southern city of Guangzhou were diagnosed with cancer in June and October this year, the hospital said Wednesday. Both had previously worked in the hospital’s highly regarded breast-cancer research laboratory.

Organizations: Agence France, Getty, HONG, Sen Memorial Hospital Locations: China, HONG KONG, Guangzhou

☆ Scientists create chimeric monkey with two sets of DNA
▼ + stars: | 2023-11-09 | by ( Katie Hunt | ) edition.cnn.com time to read: +7 min

CNN —Scientists based in China have created a monkey chimera with two sets of DNA, experimental work they say could ultimately benefit medical research and the conservation of endangered species. It’s the world’s first live birth of a primate chimera created with stem cells, the researchers said. Scientists have created mouse embryos that are part human, and in 2021, scientists reported that they had grown human-monkey chimeric embryos. In September, researchers reported that they had grown kidneys containing mostly human cells inside pig embryos. Then they selected a subset of cells to inject into genetically distinct 4- to 5-day-old embryos from the same monkey species.

Persons: —, ”, Miguel Esteban, chimeras, Zhen Liu, Liu, Jun Wu, hadn’t, Wu wasn’t, Jacob Hanna, ” Hanna, Penny Hawkins, “ Organizations: CNN —, Cell, Guangzhou Institute of Biomedicine, Chinese Academy of Sciences, Research, University of Texas Southwestern Medical Center, Weizmann Institute of Science, Royal Society for, National Academies of Sciences, Engineering, Medicine, Covid Locations: China, Health, Research Hangzhou, Israel, United States

☆ China Southern to honour $1.30 flight tickets sold during glitch
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Nov 9 (Reuters) - Chinese carrier China Southern Airlines (600029.SS) said on Thursday it would honor the sale of tickets priced as cheaply as $1.30 during a two-hour technical glitch on its mobile phone app and some ticket-booking platforms late on Wednesday. Other online screenshots indicated the cheap prices were offered for about two hours on the carrier's app as well as across several ticket-booking platforms, including market leader Trip.com. On top of that price, buyers were required to pay at least an additional 110 yuan in airport fees and fuel surcharges. "Passengers can use them as normal," Guangzhou-based China Southern said, on the proviso that tickets were already paid for and issued. ($1 = 7.2852 Chinese yuan renminbi)Reporting by Sophie Yu and Casey Hall; Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

Persons: Trip.com, Sophie Yu, Casey Hall, Bernadette Baum Organizations: China Southern Airlines, Consumers, Thomson Locations: BEIJING, Chengdu, China, Beijing, Guangzhou, China Southern

☆ China's truck industry is buying more driver-assist technology
▼ + stars: | 2023-11-08 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Huanqiu.com | Visual China Group | Getty ImagesBEIJING — China's truck industry is finding more reasons to buy vehicles with assisted-driving technology. The companies trying to sell trucks to fleet operators are including driver-assist tech as a way to make the vehicles more attractive, Gui said. In addition, Chinese authorities require all newly manufactured trucks since 2022 to come with basic driver-assist tech for warning against forward collision and lane departure, Gui said. The startup claims its trucks cost about 5% less than traditional options, on top of safety and environmental benefits. PlatooningOther startups are testing out different forms of driver-assist trucks in China.

Persons: Gui Lingfeng, Gui, Julian Ma Inceptio, Inceptio, Julian Ma, That's, Ma, Didi, Junqing Wei Organizations: Visual China, Getty, BEIJING, Kearney, it's, Industry, SF Holdings, CNBC's East Tech West Locations: Shanghai, China, Tianjin, Beijing, Inner Mongolia, Nansha, Guangzhou

☆ Private Schools Rethink China Future After Flunking Growth Test
▼ + stars: | 2023-11-07 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +6 min

Dozens of international and private schools in China are closing or merging, industry executives said, weighed down by tighter regulation, a slowing economy and dwindling foreign student numbers. Dulwich College operates nine schools in China including bilingual schools catering to Chinese nationals that have been hit hardest by regulatory changes. Strategic plans for growth of its high schools in China were "scaled back in light of changing government regulations", Dulwich said in its 2022 annual report. Authorities have also moved to control the number of private schools. Dozens of schools, from kindergartens to high schools, have shut or stalled in the past two years.

Persons: Farah Master, Kane Wu, Julian Fisher, Fisher, Dulwich, Xi, It's, Frank Feng, Jimmy Chin, Nicholas Burns, Mathias Boyer, Casey, Roxanne Liu, Dorothy Kam, Muralikumar Anantharaman Organizations: Reuters, Dulwich College, Venture Education, Strategic, Education, Motion, Dulwich, British, Authorities, Dulwich's, Victoria Kid House, Western International School of, Everpine, Xi'an Jiaotong University, University of Science, Technology of, International School of Beijing, Casey Hall Locations: Kane Wu HONG KONG, British, China, Asia, China's, Beijing, Dulwich, Singapore, South Korea, U.S, Britain, Canada, Shanghai, Lucton, Greater Bay Area, Shenzhen, Eton, Guangzhou, Western International School of Shanghai, Xi'an, Technology of China, Anhui, Hong Kong

Dozens of international and private schools in China are closing or merging, industry executives said, weighed down by tighter regulation, a slowing economy and dwindling foreign student numbers. A rapid expansion prior to the COVID-19 pandemic drove a surge of privately run bilingual schools in China offering a western exam curriculum. Dulwich College operates nine schools in China including bilingual schools catering to Chinese nationals that have been hit hardest by regulatory changes. It mandated that Chinese compulsory education be taught in private schools, aligning the curriculum more closely to public schools and making parents question the need to pay private school fees when their children can attend free government schools. Authorities have also moved to control the number of private schools.

Persons: Aly, Julian Fisher, Fisher, Dulwich, Xi, It's, Frank Feng, Jimmy Chin, Nicholas Burns, Mathias Boyer, Casey, Roxanne Liu, Dorothy Kam, Muralikumar Organizations: REUTERS, Dulwich College, Venture Education, Strategic, Education, Motion, Dulwich, British, Authorities, Dulwich's, Victoria Kid House, Western International School of, Everpine, Xi'an Jiaotong University, University of Science, Technology of, International School of Beijing, Casey Hall, Thomson Locations: Shanghai, China, HONG KONG, British, Asia, China's, Beijing, Dulwich, Singapore, South Korea, U.S, Britain, Canada, Lucton, Greater Bay Area, Shenzhen, Eton, Guangzhou, Western International School of Shanghai, Xi'an, Technology of China, Anhui, Hong Kong

☆ Rising air pollution in China suggests its economy is growing faster and oil prices will climb
▼ + stars: | 2023-11-06 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Rising air pollution in China suggests its economy in on track to see a jump in growth, according to DataTrek Research. Oil prices should rise if China's economy is accelerating, as its air quality suggests. This proves our basis point that air pollution readings can give investors an early call on a country's economy," DataTrek Research co-founder Nicholas Colas said. In fact, the air quality in Beijing has seen a "very visible" increase in air pollution in the last two weeks, as has Guangzhou, Chongqing, Shenzhen, and Shanghai. AdvertisementAdvertisementTo be sure, it will take weeks for the recent rise in China's air pollution to register in the official economic data.

Persons: DataTrek, —, Nicholas Colas, Colas, Brent Organizations: Research, Service, DataTrek Research Locations: China, Beijing, Guangzhou, Chongqing, Shenzhen, Shanghai

In the wake of Matthew Perry's death at 54, fans in China are mourning the loss of the star who felt less like a distant celebrity and more like an old friend. “People shared their own memories about Chandler and ‘Friends’ and many teared up.”A large poster displayed on the bar featured pictures of Perry over the years. Once Chinese fans added Mandarin subtitles to the show, which ran in the U.S. from 1994 to 2004, it quickly gained a following. “This TV show actually offered a way to imagine this kind of so-called metropolitan utopian imagination.”Many Chinese fans learned English through watching the show and got a peek into American life and culture. “It feels like I just got to know this long-lost friend, but he’s just gone.”___Fu Ting reported from Washington.

Persons: Long, ”, Matthew Perry's, Chandler Bing, Nie Yanxia, Chandler, Perry, Xian Wang, ” wasn't, China —, Wang, ” Wang, Nilufar Arkin, Monica, “, ” Arkin, ” Fu Xueying, ” Fu, Zhang Fengguang, Sun Tiantian, Zhang, Sun, ” Zhang, he’s, Fu Ting, Han Guan Ng Organizations: University of Notre Dame, Associated Press Locations: China, Shenzhen, Hong Kong, Los Angeles, Sohu, U.S, Shanghai, Tianjin, Xinjiang, Guangzhou, Washington

☆ China October factory surveys disappoint, weigh on Q4 momentum
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +4 min

The Caixin/S&P Global manufacturing PMI fell to 49.5 in October from 50.6 in September, marking the first contraction since July and missing analysts' forecasts of 50.8 by a large margin. A slowdown in Chinese manufacturing will also soften China's imports. Following the release of the gloomy data, China shares (.SSEC) eased 0.15%, while Hong Kong's Hang Seng Index (.HSI) fell 0.75%. PMI surveys track business conditions and offer the first monthly snapshot of China's economic performance. New export orders for Chinese manufactured goods have shrunk for four consecutive months amid a relatively sluggish global economic climate.

Persons: China's, Hong, HSI, Bruce Pang, Jones Lang Lasalle, Goldman Sachs, Ellen Zhang, Ryan Woo, Kim Coghill, Lincoln Organizations: P Global, PMI, Manufacturers, London Metal Exchange, Jones, Goldman, Thomson Locations: BEIJING, Japan, South Korea, China, Guangzhou

☆ They Propelled China’s Rise. Now They Have Nothing to Fall Back On.
▼ + stars: | 2023-11-01 | by ( Li Yuan | More About Li Yuan | ) www.nytimes.com time to read: +1 min

When Zhang left his village in northeastern China a decade ago to work as a welder in a big city, jobs were plentiful. He pays $55 a month in rent for a tiny studio apartment but pinches every other penny. The morning we talked, he said he’d had a bowl of instant noodles, one of two meals he eats a day. Mr. Zhang’s family grows corn on a tiny patch of land, generating about $200 a year. At 28, Mr. Zhang, who asked that I use only his surname, is not married and does not plan to have children.

Persons: Zhang, he’s, he’d, “, ” Locations: China, Guangzhou, Beijing

The National Financial Work Conference, usually held twice a decade, is expected to further fortify leader Xi Jinping’s control of the country’s $61 trillion financial sector. “Overall, the financial sector in China has made progress but at this moment they face challenges,” said Nakao. Last week, Xi reportedly visited the central bank, or People’s Bank of China, a rare step that underscores the party’s consolidation of controls over markets and financial institutions. Country Garden, another major developer, failed last week to meet a deadline to pay interest on a dollar bond. It has adopted measures to support private industries, which provide the lion's share of jobs in China.

Persons: —, Xi Jinping’s, Takehiko Nakao, China’s, ”, Li Keqiang, Li, shakeup, Xi, Lan Fo’an, Evergrande, Hui Ka Yan, Zen Soo Organizations: Financial Work Conference, Asian Development Bank, Central Financial Commission, China Securities Regulatory Commission, People’s Bank of, International Monetary Fund, AP Locations: BANGKOK, Beijing, China's Guangzhou, “, China, People’s Bank of China, Hong Kong, Foshan

☆ Flights in China to increase 34% above pre-pandemic levels
▼ + stars: | 2023-10-28 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Edgar Su/File Photo Acquire Licensing RightsBEIJING, Oct 28 (Reuters) - China's aviation regulator said it will increase domestic flights to 34% above pre-pandemic levels, a move that will further boost the recovery of Chinese airlines. There will be 96,651 domestic flights a week, or 34% higher than the same period four years ago, with 7,202 new weekly flights brought on by the opening of 516 new domestic routes. The increase in domestic flights focuses on connections between regional and hub airports like Shanghai, Beijing and Guangzhou, the regulator said. In the next five months there will be 16,680 weekly flights, with passenger flights expected to reach 71% of the total four years ago. Flights to and from 22 countries, including Britain and Italy, have neared or overtaken pre-pandemic levels, the regulator said.

Persons: Edgar Su, Eduardo Baptista, William Mallard Organizations: REUTERS, Rights, Civil Aviation Administration, CAAC, Thomson Locations: Air China, Beijing, China, Rights BEIJING, Shanghai, Guangzhou, Britain, Italy, United States

☆ South Korea: Itaewon crush haunts survivors one year after Halloween crowd disaster
▼ + stars: | 2023-10-27 | by ( Heather Chen | ) edition.cnn.com time to read: +9 min

CNN —Hye Minyi can still vividly recall what happened in Itaewon, South Korea, on the night of October 29, 2022. Whether the disaster in Itaewon last year will put a dent in this growing popularity is yet to be seen. “We are extremely concerned that there could be a repeat of the Itaewon tragedy,” said Shibuya mayor Ken Hasebe. The Itaewon crowd crush was South Korea’s worst peacetime disaster since the sinking of a ferry in 2014 killed 304 people – among them 250 students and teachers from the Danwon State High School. Lee is certain of one thing, however – that she is “never going back to the area again.”“For me, Halloween and the Itaewon tragedy are (inextricably) linked,” she said.

Persons: CNN — Hye, Amy, Hye, ” Hye, ”, “, Anthony Wallace, expats, Ken Hasebe, Hasebe, ” Hasebe, overtourism, Yuya Shino, Critics, Jung Yeon, Yoon Suk, Kim Kun, Chung Sung, Lee, Kim Ho, Lee Sang Organizations: CNN, Getty, “, Reuters, Danwon State High School, South Korean, Seoul Metropolitan Government, South, City, Facebook, Interior, Safety Locations: Itaewon, South Korea, Seoul, AFP, Asia, Tokyo, Taipei, Hong Kong, Shanghai, Singapore, Japan, Shibuya, “, Tokyo's Shibuya, Guangzhou, China, South, Danwon, Yongsan

☆ Stellantis is teaming up with Chinese startup Leapmotor on EVs
▼ + stars: | 2023-10-26 | by ( Michelle Toh | ) edition.cnn.com time to read: +2 min

The two will form a joint venture that will give Stellantis the exclusive rights to produce, export and sell the Chinese brand’s vehicles outside Greater China. Stellantis will control the joint venture, with a 51% stake, while Leapmotor will take a 49% share. In July, Volkswagen announced it was buying a 5% stake in Chinese EV maker Xpeng and unveiled a strategic partnership to jointly develop new vehicles. News of Stellantis’ latest partnership comes about a year after it terminated its joint venture in China with Guangzhou Automobile Group Company (GAC). Stellantis is acquiring Leapmotor shares at a price of 43.8 Hong Kong dollars ($5.6) apiece, according to a Thursday stock exchange filing by the Chinese firm.

Persons: Hong Kong CNN —, Leapmotor, Mercedes, Nio, Stellantis, weren’t Organizations: Hong Kong CNN, Chrysler, Volkswagen, Xpeng, Reuters, CNN, Nio, Guangzhou Automobile Group Company, Hong Locations: Hong Kong, Leapmotor, Hangzhou, Greater China, Shanghai, China

☆ Jeep, Dodge maker Stellantis to invest $1.6 billion in Chinese EV startup Leapmotor
▼ + stars: | 2023-10-26 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +5 min

Arjun Kharpal | CNBCStellantis on Thursday said it will invest 1.5 billion euros ($1.58 billion) in Chinese electric vehicle startup Leapmotor , as traditional automakers look for a way to compete in China's cutthroat market. The companies will form the Leapmotor International joint venture, aiming to boost sales of the Chinese brand's electric cars overseas. China, the world's biggest electric vehicle market, is dominated by domestic company BYD , as well as U.S. automaker Tesla . Traditional vehicle companies have been seen to be too slow to transition to manufacturing electric vehicles, hampering potential growth in the Chinese market. Stellantis eyes China boostThe deal could boost Stellantis' efforts in China, by having a local partner lead the way.

Persons: Arjun Kharpal, Li Auto, Stellantis, Abhik Mukherjee, Carlos Tavares, Leapmotor, Zhu Jiangming, Counterpoint's Mukherjee, Bill Russo Organizations: Leapmotor, CNBC, International, JV, Chrysler, Maserati, Tesla, Huawei, Counterpoint Research, EV, IAA, Guangzhou Automobile Company Locations: Leapmotor . China, China, Hangzhou, Munich, Greater China, Europe, Stellantis, China's Xpeng

☆ Japanese carmaker Mitsubishi ending production in China, world's biggest car market
▼ + stars: | 2023-10-25 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Mitsubishi Motors will stop producing vehicles in China, in the latest sign of retreat by foreign automakers in the world’s biggest car market. Following weeks of speculation, the Japanese carmaker confirmed Tuesday that it would wind down local manufacturing and exit a long-running joint venture in mainland China. The move came days after Stellantis, home to brands such as Jeep and Chrysler, moved to withdraw further from China, too. Stellantis continues to sell imported vehicles in China through dealerships. The Japanese firm will pour up to €200 million ($212 million) into Ampere, helping it push further into the European market.

Persons: ” Mitsubishi, “, Stellantis, Dongfeng, Ampere Organizations: Hong Kong CNN — Mitsubishi Motors, Mitsubishi, Guangzhou Automobile Group Company, GAC, Chrysler, Dongfeng Motor, Peugeot, Renault Locations: China, Hong Kong, Wuhan, Xiangyang, French

☆ Stellantis to buy about 20% stake in China's Zhejiang Leapmotor for $1.6 bln
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

[1/2] A view shows the logo of Stellantis at the entrance of the company's factory in Hordain, France, July 7, 2021. REUTERS/Pascal Rossignol/File Photo Acquire Licensing RightsOct 26 (Reuters) - Stellantis NV (STLAM.MI) said on Thursday it would invest 1.5 billion euros ($1.58 billion) to acquire approximately 20% of Chinese electric vehicle (EV) maker Zhejiang Leapmotor Technology (9863.HK). After the subscription, Stellantis will own about 21.07% of Zhejiang Leapmotor's total issued Hong Kong shares. Stellantis, whose brands include Fiat and Peugeot, has a very small presence in China, the world's largest auto market. The group last year closed its joint venture that makes Jeeps in China with local partner Guangzhou Automobile Group (601238.SS) amid disappointing results.

Persons: Pascal, Leapmotor, Stellantis, Carlos Tavares, Sameer Manekar, Kanjyik Ghosh, Devika Syamnath, Subhranshu Organizations: REUTERS, Stellantis, Zhejiang Leapmotor Technology, HK, Hong, Hong Kong, Chrysler, Fiat, Peugeot, Renault, Guangzhou Automobile Group, Thomson Locations: Hordain, France, Zhejiang, Hong Kong, Greater China, China, Europe, Bengaluru

☆ Stellantis nears deal to buy 20% of Chinese EV maker Leapmotor - Bloomberg News
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

A flag with the logo of Stellantis is seen at the company's corporate office building in Saint-Quentin-en-Yvelines near Paris, France, May 5, 2021. The partnership would also give Stellantis access to the EV maker's parts and certain technologies, according to the report. Stellantis, whose brands include Fiat and Peugeot, has only a very small presence in China, the world's largest auto market. The group and rivals such as Renault (RENA.PA) are concerned about growing competition from cheap Chinese electric cars in Europe. The companies are hammering out the final details of a transaction and an announcement could be made in the coming days, Bloomberg said.

Persons: Gonzalo Fuentes, Stellantis, Leapmotor, Akanksha, Gilles Guillaume, Giulio Piovaccari, Zhang Yan, Keith Weir, Shilpi Majumdar, Shweta Agarwal, Mike Harrison, Jan Harvey Organizations: REUTERS, Stellantis, Bloomberg, Zhejiang, HK, Fiat, Peugeot, Renault, Hong Kong, Guangzhou Automobile Group, Thomson Locations: Saint, Yvelines, Paris, France, China, Europe, Hong Kong, Bengaluru, Milan, Shanghai

☆ Revenge travel is over — even in China, says CEO of InterContinental Hotels Group
▼ + stars: | 2023-10-24 | by ( Monica Pitrelli | ) www.cnbc.com time to read: +3 min

In this article IHG-GBIHG Follow your favorite stocks CREATE FREE ACCOUNTPent-up travel demand — which drove global travel recovery following the Covid-19 pandemic — is over, said Intercontinental Hotels Group CEO Elie Maalouf. "So we're really past revenge travel — even in China." The company's latest quarterly update showed travel demand remained strong during the close of the summer travel season. Elie Maalouf CEO of Intercontinental Hotels GroupThe company currently operates more than 6,200 hotels worldwide and has another 1,978 in the pipeline. "In the United States, there are about 9,000 hotels that we think are interested in joining a system.

Persons: Elie Maalouf, Maalouf, We're, —, it's, IHG, Garner Organizations: Intercontinental Hotels, CNBC, Hotels, Resorts, Dubai —, Holiday Locations: China, Greater China, Beijing, Shanghai, Guangzhou, Shenzhen, Americas, Europe, Middle East, Africa, Asia, —, Spanish, Dubai, ., Southeast Asia, Central Asia, United States

☆ U.S. chip export ban is 'great news,' says partner at Chinese tech investment fund
▼ + stars: | 2023-10-23 | by ( Lucy Handley | ) www.cnbc.com time to read: +1 min

A partner at a Chinese semiconductor investment fund has welcomed the U.S. government's ban of certain advanced chip types to be exported to China, describing the move as "great news" which may stimulate a domestic ecosystem. Nvidia's H100 chip, used by AI firms in the U.S., was banned for sale in earlier U.S. government restrictions. Wang said the fund invests in semiconductor companies, including those in the AI training and autonomous vehicle sectors. One AI chip company Yang Cheng has invested in will launch its initial public offering this year, while a Shanghai-based AI chip firm is valued at more than $3 billion, Wang added, though she didn't name the firms. "We believe those kind of upstream chipmakers — they will drive, or they will play the leading role in China, and they will create their own ecosystem," Wang added.

Persons: Chloe Wang, Yang Cheng, Wang, Nvidia Organizations: U.S, CNBC's East Tech West, U.S . Department of Commerce Locations: China, Guangzhou, Nansha, U.S, Shanghai

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