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BYD, the world's top-selling EV seller, has launched a cheaper version of its Yuan Plus car. Rivals such as Xpeng and Tesla have also initiated price drops and incentives to entice buyersIt comes as EV sales have dropped in China. The price cut, which comes amid an accelerating EV price war and slowing sales in the world's biggest car market, was first reported by Reuters. As well as cornering the affordable EV market, it's also dabbling in the other end of the market with a $233,000 electric supercar. As a result, Shenzhen-based BYD is "not planning to come to the US," BYD Americas CEO Stella Li told Yahoo Finance last week.
Persons: Tesla, , Xpeng, Elon, Warren Buffett, BYD, it's, EVs, Stella Li Organizations: Service, Reuters, China Morning Post, Auto, L6, Yahoo Finance, EV Locations: China, Weibo, America, Shenzhen, West
The move has also fueled speculation about the end of Wolf Warrior diplomacy. BRENDAN SMIALOWSKI/AFP via Getty ImagesChina is also aware that the shock value of Wolf Warrior diplomacy brings diminishing returns. "I think the limits of wolf warrior diplomacy are apparent," Loh said. The Wolf Warrior will be backThat said, Wolf Warrior diplomacy will return, depending on the issue at hand, said Loh. LEAH MILLIS/Getty ImagesSo why did Liu tell reporters and academics in New York that Wolf Warrior diplomacy would never return?
Persons: , Liu Jianchao, Liu, China's, Antony Blinken, ROBERTO SCHMIDT, Ian Ja Chong, Chong, Zhao Lijian, Zhao, Rather, Stanley Rosen, Rosen, you'll, Zhao dismissively, Nancy Pelosi's, Anthony Kwan, Pan Chengxin, Donald Trump's, Pan, Dylan Loh, Xi Jinping, Biden, Xi, BRENDAN SMIALOWSKI, Loh, Qin Gang, LEAH MILLIS Organizations: Service, Communist Party's International Department, of Foreign, Business, US, AFP, Getty, National University of Singapore, Foreign Ministry, University of Southern, China Institute, U.S . House, Deakin University, Nanyang Technological University of Singapore, Getty Images, Chinese Foreign Locations: New York, China, West . China, Beijing, University of Southern California's US, Maryland, Ukraine, Weibo, Taiwan, Hong Kong, Africa, Southeast Asia, Australia, Gaza, AFP, Getty Images China, West
Hong Kong CNN —At least 15 people were killed in a fire thought to have been started by an electric bicycle parked at a high-rise residential building in eastern China early Friday morning, state media have reported. Forty-four people were also injured during the blaze that engulfed the 34-floor building in the eastern city of Nanjing, the media outlet CCTV said. Footage on Chinese social media showed a ball of fire spreading to the exterior of the building. The blaze was a trending topic on the Chinese social media platform Weibo on Saturday, being viewed more than 470 million times by the afternoon. A fire breaks out at a residential building in Nanjing on February 23, 2024. liangyishengmagua/WeiboFaulty electric bicycles have been reportedly linked to several blazes in the country in recent years.
Persons: Chen Zhichang, , , Hu Xijin, It’s, Hu Organizations: Hong Kong CNN, Investigations, Authorities, Nanjing, Nanjing government’s, Weibo, liangyishengmagua, Global Times Locations: Hong Kong, China, Nanjing, Weibo
Hong Kong CNN —At least two people were killed and a crew member was injured on Thursday when a cargo ship rammed into a bridge in southern China, cutting the structure in half, according to Chinese authorities. Dramatic photographs of the aftermath circulating on Chinese social media showed the bridge split in two with the large stricken ship stationary under the structure. Police vessels were also seen at the scene. As of 10 a.m, two people were pulled to safety and three others remain missing, Chinese state news outlet the People’s Daily reported. A rescue operation is ongoing, it said.
Organizations: Hong Kong CNN, Police Locations: Hong Kong, China, Guangzhou, Guangzhou Nansha District
Starbucks has launched a pork-flavored coffee in China. The Seattle-based coffee giant recently rolled out a pork-flavored latte in China for the Chinese New Year season that started on February 10. The pork-flavored coffee has gone viral on Chinese social media — mostly because people were wondering if it's for real. The Starbucks beverage is far more expensive than rival Luckin Coffee, which can cost as little as $1.40 thanks to aggressive discounts. Sales of Luckin Coffee overtook Starbucks in China in the second quarter of last year.
Persons: , Savory Latte, Lucky Savory Latte, Instagram, Luckin Organizations: Starbucks, Service, Business Locations: China, Seattle, Shanghai, Starbucks China, Hong Kong
Hong Kong CNN —Who doesn’t like a little braised pork with their coffee? Starbucks (SBUX) is betting on that unusual combination with a new drink released in China to mark the Lunar New Year. The drink combines Dongpo Braised Pork Flavor Sauce with espresso and steamed milk, with extra pork sauce and pork breast meat for garnish, according to the Starbucks delivery app. And while the foods served at New Year feasts vary by region, braised pork makes a frequent appearance. The Starbucks pork latte has quickly gained traction on Chinese social media, with the topic viewed more than 476,000 times on Weibo by the time of publishing.
Persons: Savory Latte, Su Dongpo, it’s, , Organizations: Hong Kong CNN, Shanghai Starbucks Reserve, Starbucks Reserve, United, Starbucks, Luckin, Shanghai, Weibo Locations: China, Hong Kong, Weibo, Asia, People, United States, Wuhan
On February 4, Messi’s absence from the match between Inter Miami and the Hong Kong XI team sparked significant backlash. Many on Weibo questioned how the star was able to make such a quick recovery three days after the Hong Kong game. Others lashed out against what they saw as disrespect for Hong Kong – and China. In Monday’s video, Messi denied that his absence was due to political reasons and reiterated that he was unable to make the game because of an inflamed adductor that had worsened the day before the game in Hong Kong. “I’ve had a very close and special relationship with China and I’ve done a lot of things in China,” Messi said in the video.
Persons: Lionel Messi, Messi, Weibo, “ I’ve, ” Messi, , Hong Kong, XFEST, CNN’s Simone McCarthy, Chris Lau Organizations: CNN, Inter Miami, Hong Kong XI, Argentina’s, Vissel, Weibo Locations: Hong Kong, Weibo, Vissel Kobe, Tokyo, China, China’s Sichuan, Beijing
Happy New Year of the Dragon - or Loong?
  + stars: | 2024-02-16 | by ( Chris Lau | ) edition.cnn.com   time to read: +7 min
This year, it’s the Year of the Dragon, or more accurately, the “Year of the Loong,” says Chinese state media, using its preferred term for the mythical beast. The Chinese “loong” conjures positivity, nobleness and fortune and therefore should be distinguished linguistically from its Western cousin, state media argues. Chinese media has dedicated coverage and airtime to promote the new nomenclature over the past week or so, though both “dragon” and “loong” are being used interchangeably in English-language reports. “Transcribing long into English ‘loong’ would cause more problems and confusion than translating it as ‘dragon’,” he wrote. He noted that “some patriotic and political sources in the Sinosphere” have been peddling the concept that the Western dragon is fearful.
Persons: , Loong ”, it’s, loong, “ loong, Xi Jinping, Loong, John Lee, Wong Tai, Alex Chan Tsz Yuk, Elliott, Bradford Lee Eden, Eden, Eduardo Leal, , Weibo, Victor Mair, Mair, “ loong ”, ” Eden, Organizations: Hong Kong CNN, Disney, Xinhua, of Library Services, Valparaiso University ,, Tolkien Research, Getty, University of Pennsylvania, Valparaiso University Locations: China, Hong Kong, Beijing, Valparaiso University , Indiana, Macau, Weibo, West
After that, he shut down his trading account and started investing in Chinese funds that track stocks in the United States. Many investors have instead flocked to the exchange-traded funds that track foreign markets and that have been performing much better. But Chinese investors are experiencing something especially alarming: financial losses in the markets, declining home values and a government that doesn’t want any public discussion of what’s happening. With their frustrations piling up, Chinese investors recently found a way to vent that wouldn’t be quickly censored. The giraffe post has been liked nearly one million times since Feb. 2, much more than what the embassy’s Weibo posts usually get.
Persons: Jacky Organizations: Weibo, U.S, Embassy Locations: United States, China
Hong Kong CNN —Global stock index compiler MSCI is deleting dozens of companies from its benchmark China Index, which could further exacerbate fund outflows from Chinese equities after a massive stock market rout. The index provider announced this week that it would drop 66 securities from the MSCI China Index, one of its flagship China indexes, as part of the company’s latest quarterly review. The MSCI China Index is the compiler’s key index tracking the Chinese stock market, covering about 85% of the total market capitalization of Chinese companies listed globally. On Monday, MSCI also announced changes to its other China-related indexes, including deleting dozens of stocks from MSCI China A Onshore indexes and MSCI China All Shares indexes. Hong Kong’s stock market reopened on Wednesday after a long holiday weekend, with the benchmark Hang Seng Index up 0.9%.
Persons: MSCI, , Luca Paolini, Hong Organizations: Hong Kong CNN — Global, Investors, Greentown China Holdings, Gemdale Corp, Uni, President, China Southern Airlines, Lufax Holdings, Genomics, Midea, MGI Tech, Management Locations: China, Hong Kong, Shanghai, Shenzhen, Fuyang, China's, Anhui, AFP, Hangzhou, President China, Beijing, Geneva, Mainland
But this month, all eyes are on another one of its historic sites – the Xi’an City Wall, said to be one of the world’s most impressive remaining traditional defense systems and one of the only complete ancient city walls left in China. China officially marks the Lantern Festival as the 15th day of the first lunar month (February 24 in 2024). A year-round attractionThe top of Xi'an's City Wall is a popular place for locals and tourists to get some exercise. chuyu/iStockphoto/Getty ImagesWhen not glowing with lanterns, Xi’an’s City Wall provides locals and tourists a relaxing space for cycling, or a breezy stroll, while offering panoramic views. A year earlier, in 2014, then-US First Lady Michelle Obama jumped rope and danced on the Xi’an City Wall.
Persons: netizen, Yuan, Xiao, it’s, Mark Zuckerberg, Michelle Obama Organizations: CNN, Army, Visitors, Lantern Festival ., Festival, Wall, Facebook Locations: China, Xi’an, Weibo, Lantern Festival . China
Read previewWhen it comes to settling down and having children, 26-year-old Bihan Chen views the choice in simple terms: It's a bad investment. Falling birth rates saw China's population shrank in 2022 for the first time since the early 1960s. "When it comes to having children, I don't have a shred of desire, only fear. AdvertisementOthers cited the loss of personal freedom as a key obstacle to having children. Having children remains a deeply personal decision that can't be evaluated by finances alone.
Persons: , Chen, Emily Huang, Huang, Xi Jinping, Xi, Zhu Zheng, haven't, Dudley L, Poston Jr, Rich, we've, Lanjie Wang, Wang, Collin Meisel, might've, Yi Organizations: Service, Business, Women's Congress, Getty, Texas, M University, Weibo, University of Denver's, Center for International Futures, Publishing, University of Wisconsin, Project Syndicate Locations: China, Beijing, Weibo, Xinhua, Japan, Korea, America, Madison
Authorities last month forecast that China’s population of 1.4 billion would take a record 9 billion trips during the 40-day holiday travel period, which began on January 26. Stringer/VCG/Getty Images A man takes photos of blooming plum blossoms at the Summer Palace in Beijing, China on February 5. Johanes P. Christo/NurPhoto/AP Crowds flock to the Spring Festival Light Show in Xi'an, Shaanxi Province, China on February 3. Axel Miranda/SOPA Images/Sipa/Reuters Workers assemble dragon lanterns at a production workshop in Nanchang, Jiangxi Province, China on January 24. Two major indexes recorded their worst drops in years capping off a dire 2023 that saw China’s stock markets become the world’s worst performer.
Persons: , Luo, Stringer, VCG, Zhang Yu, Ulet Ifansasti, Johanes, NurPhoto, Zhang Cheng, Wu Wenjun, Axel Miranda, Xi Jinping, ” Xi Organizations: Hong Kong CNN —, Festival, CNN, Authorities, China News Service, Spring, Reuters Workers, HSBC, Beijing, United States Embassy Locations: Hong Kong, China, Beijing, Fujian, Xi'an, Shaanxi Province, Solo City, Indonesia, Dharmayana, Bali , Indonesia, Guangzhou, China's, Guangdong Province, Barcelona, Spain, Nanchang, Jiangxi Province, Shanghai
Tickets for the game cost up to 4,880 Hong Kong dollars ($624) each. In its statement, Tatler Asia said it would refund 56 million Hong Kong dollars ($7.2 million) in total, resulting in a loss of 43 million Hong Kong dollars ($5.5 million). Before the refund, its net income stood at 13 million Hong Kong dollars ($1.7 million), the organizer said. In response to the announcement, the Hong Kong government welcomed the arrangement in a statement, calling it as a responsible move. “One theory is that their actions have political motives, as Hong Kong intends to boost economy through the event and external forces deliberately wanted to embarrass Hong Kong through this incident,” it said.
Persons: Lionel Messi, Messi, Messi’s, , Regina Ip, “ Messi, Hong Kongers, ___ Organizations: Inter, Global Times, Tatler Asia, Tatler, Hong Kong, Hong, Inter Miami, Associated Press, Weibo, Messi, , Executive, Miami, Newell’s Old Locations: HONG KONG, Hong Kong, China, Argentina, Tokyo, Asia, Japan, Tatler Asia, Inter Miami, Beijing, Regina, Weibo, El Salvador, Dallas, Saudi Arabia, Florida, Rosario
“(He) played in five of the six preseason games and only missed the game in Hong Kong, China! Don’t come to China, China doesn’t welcome you,” another user wrote in a post liked by 20,000 others. “Why didn’t Messi play in Hong Kong or participate in the handshake with HK (the Hong Kong) chief executive? Messi's no-show sparks an outcry in Hong Kong on February 4, 2024. One social media user noted that it was not only Messi who played in Tokyo, but not Hong Kong.
Persons: Lionel Messi, Messi didn’t, Messi, “ Messi, Hong Kong, Kenneth Fok, Hu Xijin, didn’t Messi, ” Hu, , Louise Delmotte, “ Don’t, Hong, David Beckham, Beckham, Gerardo “ Tata ” Martino, Luis Suárez couldn’t, Philip Fong, , nimbly, Regina Ip, ” “ Messi, Kenneth Chan, Taylor Swift, Organizations: Hong Kong CNN, Sunday, Major League Soccer, Inter Miami, Vissel, Hong, CNN, Weibo, HK, Global Times, Inter, National Basketball Association, Houston Rockets, Soccer, Ardent, Messi, Argentina national, Australia, Inter Miami's, Getty, The Inter Miami, Hong Kong Baptist University Locations: China, Hong Kong, Argentine, Japan, Vissel Kobe, Tokyo, Beijing, State, China’s Sichuan, Argentina, AFP, Asia
AdvertisementGiraffes might just be the next thing banned on China's social media. The post doesn't mention China and instead promotes US efforts to track down endangered giraffes in Africa using GPS technology. But on Weibo, China's version of X, the embassy's post mysteriously went viral, with 970,000 likes and 180,000 comments as of Tuesday evening. AdvertisementInvestors flooded the giraffe post last weekend with comments complaining about China's slumping stock market, as Bloomberg, CNN, and Reuters reported. Irate commenters were copy-pasting the headline of a state media article, published on the same day as the giraffe post, that said the "entire country is filled with optimism."
Persons: , Xi Jinping, Peppa, Long, haven't, Weibo Organizations: Service, Embassy, Bloomberg, CNN, Reuters, CSI, Beijing, China Digital Times, Business Locations: China, Africa, Weibo, Republic, China's
CNN —Inter Miami star Lionel Messi returned to action on Wednesday in a match against Vissel Kobe in Tokyo, though Chinese fans remain upset that the star did not play in Sunday’s game in Hong Kong. “Hello to all my fans in mainland China and Hong Kong! Philip Fong/AFP/Getty ImagesDuring Wednesday’s game against Vissel Kobe, Messi was brought on for David Ruiz as a second-half substitute. Fans in Hong Kong booed and called for ticket refunds due to Messi’s non-appearance in Sunday’s game, and even the Hong Kong government shared its dismay that the forward had not taken to the field. Luis Suárez, Messi former teammate at Barcelona, was also sidelined with an injury in Hong Kong but played 75 minutes for Miami against Vissel Kobe.
Persons: Lionel Messi, , ” Messi, Messi, Vissel Kobe, Philip Fong, David Ruiz, Luis Suárez Organizations: CNN — Inter Miami, Vissel, Weibo, Messi, Vissel Kobe, Miami, Hong, Barcelona Locations: Vissel Kobe, Tokyo, Hong Kong, China, Sichuan, Weibo, AFP, Japan
On Monday, mainland Chinese markets slumped again after their worst weeks in years. Under a Friday post by the US Embassy’s Weibo account about protecting wild giraffes, many Chinese people complained about the stock market rout and the challenging economy. “The US government, please help Chinese stock investors,” a user said in a repost of the animal protection article. Investors seemed to have shrugged off Chinese regulators’ latest pledge to bolster the stock market. On Sunday, the China Securities Regulatory Commission vowed to prevent “abnormal fluctuations” in the stock market and stabilize confidence.
Organizations: Hong Kong CNN, Embassy, US, Weibo, Investors, China Securities, CNN Locations: China, Hong Kong, Beijing, Shanghai, Shenzhen
Advertisement"The US government, please help Chinese stock investors," one person wrote in a repost of the Weibo article, according to CNN. Some commenters used humor and sarcasm to get around the country's strict social media restrictions. China has one of the world's most censored media industries, with digital news and social media use heavily restricted throughout the country. Some social media platforms, such as Facebook and Instagram, are prohibited and the government monitors social media platforms that are allowed, such as Weibo. Meanwhile, top officials have publicly spoken about the importance of elevating the "bright prospects of China's economy," according to the Journal.
Persons: Organizations: Service, Reuters, Bloomberg, CNN, People's Daily, Facebook, The New York Times, Street Journal, China's Ministry of State Security Locations: Weibo, Africa, China, Hong, Beijing
New York CNN —A team of five US Treasury Department officials is traveling to Beijing this week for a series of meetings on the economy with their counterparts in China, a Treasury official told CNN on Monday. The trip by senior officials comes ahead of a planned return to China by Treasury secretary Janet Yellen later in 2024. Specifically, the Treasury delegation plans to raise China’s use of non-market economic practices and industrial overcapacity, the official said. The visit marks the first time that the economic working group is meeting in Beijing since it was launched last September after Treasury Secretary Janet Yellen’s trip to China. However, there is nothing to suggest the latest US-China meeting is in direct response to the renewed concerns about China’s economy and financial markets.
Persons: New York CNN —, Janet Yellen, Jay Shambaugh, Donald Trump, Yellen, Janet Yellen’s, ” Yellen, , Jerome Powell, , Powell, ” Powell Organizations: New, New York CNN, US Treasury Department, Treasury, CNN, Shanghai, Weibo, The New York Times, China Business Council’s, Federal, United Locations: New York, Beijing, China, Treasury’s, Washington, Hong Kong, Evergrande, United States
Reports this week from The New York Times and The Wall Street Journal detail efforts by Chinese authorities to scrub the internet of negative takes on the state of its economy. According to the NYT, The Ministry of State Security said in its official WeChat account that citizens should not believe the "false narratives" about the trajectory of China, and instead should believe in President Xi Jinping's vision. The WSJ similarly reported that some of the nation's top officials have reiterated the importance of promoting the "bright prospects of China's economy." The NYT said tech platform Weibo had restricted dozens of accounts from posting after they had shared bleak economic realities with other users. The platform also warned its users in November, the report said, not to be "maliciously pessimistic" about China's economy.
Persons: Xi, Li Xunlei Organizations: The New York Times, Ministry of State Security, Zhongtai Securities, Weibo Locations: China, Beijing
Hong Kong CNN —China has executed a couple for throwing two toddlers out of a high-rise apartment window, in a case that provoked nationwide outrage. Ye saw Zhang’s two children as an “obstacle” to them getting married and a “burden on their future life together,” the court heard. She repeatedly urged Zhang to kill the toddlers and threatened to break up with him if he didn’t. His study shows that Chinese people who express political views online tend to show greater support for the death penalty. Wednesday’s execution also brought into focus the main method used in China to carry out the death penalty: lethal injection.
Persons: Zhang Bo, Ye Chengchen, Ye, Zhang, , , John Zhuang Liu, It’s, Kenneth Smith Organizations: Hong Kong CNN, Xinhua, Weibo, University of Hong Kong, CNN, Amnesty Locations: Hong Kong, China, Chongqing, Weibo, Alabama
Hong Kong CNN —Heavy snow and rain is forecast to hit central and eastern China in the coming days, threatening travel plans for hundreds of millions of Chinese workers heading home for the Lunar New Year. However, Xu Jun, chief forecaster from the Central Meteorological Observatory, told CCTV the forecast snowfall won’t be as heavy or widespread as that experienced around the holiday season 16 years ago. “The rain and snow overlap with the peak period of Spring Festival travel. This has posed risks to safe (travel) and brought inconvenience to the transportation,” weather expert Wang Lijuan, from China Meteorological Administration, told CCTV. Xu, from the Central Meteorological Observatory, told CCTV freezing rain could affect many provinces over an area as wide as 43,000 square kilometers (16,600 square miles).
Persons: Xu Jun, Wang Lijuan, Xu Organizations: Hong Kong CNN, Central Meteorological Observatory, Meteorological, Festival, China Meteorological Administration, Central Meteorological Locations: Hong Kong, China, Hebei, Henan, Shandong, Liaoning, Hubei, Zhengzhou, China's, Xinjiang, Anhui, Weibo, Mohe, Heilongjiang
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. They asked Beijing to issue a public notice advising people against allowing superstition to affect their life decisions. The belief involves the lack of a "beginning of spring" day, also known as lichun, at the start of a lunar year. "There surely must be a reason behind thousands of years of folk tradition," another person wrote in defense of the superstition. Advertisement"First you need to find someone to marry," wrote law blogger Chen Yiyu.
Persons: , Mao Zedong's, haven't, Chen Yiyu Organizations: Service, Business, China's Ministry of Civil Affairs, Weibo Locations: China, Beijing, Weibo
Read previewA couple who stayed at a hotel in Guangdong, China, is demanding a refund worth 10 times the cost of their room after a cleaner walked in on them while they were naked. Huang and his girlfriend were staying at the Ranz Hotel in the city of Shenzhen on Saturday and had arranged for a late checkout at 6 p.m., per the outlet. Related storiesA front desk staff member at the Ranz Hotel confirmed the incident to Hunan-based daily Xiaoxiang Morning News. The hotel told the outlet it could offer an apology, but not the money. The Ranz Hotel did not immediately respond to a request for comment sent by BI.
Persons: , Huang, Xie Organizations: Service, Business, TV, Guangdong Radio, Ranz Hotel, Morning, BI Locations: Guangdong, China, Shenzhen, Hunan, Weibo
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