Shenzhen Tag

11 Apr Huawei has a new car and PC, but no P70 smartphone as people await next big launch after Mate 60

Posted at 12:00h in Asia

Huawei Technologies launched its revamped Luxeed S7 electric sedan, co-developed with Chinese carmaker Chery Auto, and a new personal computer (PC) with built-in artificial intelligence (AI) support at its latest event on Thursday, but there was no mention of the highly anticipated P70 smartphone.The new...

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10 Apr China scraps ownership caps on some telecoms services, courting foreign capital resurgence

Posted at 12:00h in Asia

China has designated areas where limits on foreign investment for select telecommunications services will be lifted, with the cities of Beijing, Shanghai, Shenzhen and the island province of Hainan acting as testing grounds for an oft-cited goal to open the bedrock industry to overseas capital.These...

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07 Apr China e-commerce: how SoftBank-backed Firework aims to help mainland merchants sell directly in overseas markets

Posted at 10:10h in Asia

“Live-stream shopping in China is very influencer-driven. People watch live streams because they trust the influencer,” he said. “Whereas in the US, it’s still brand-focused. The relationship is between the brand and the customer, not an influencer.”Unlike mainland China’s influencer-driven live-streaming e-commerce segment, the direct...

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02 Apr Tech war: updated US semiconductor export restrictions raise demand in China for Nvidia’s RTX 4090 graphics card

Posted at 00:00h in Asia

“The demand for high-end graphic cards remains very robust, especially after the export curbs imposed by the US government,” said Cai Zhaojie, a vendor at Huaqiangbei in the Futian district of tech hub Shenzhen, southern Guangdong province.The Biden administration last Friday revised sweeping export controls...

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31 Mar Hong Kong grocers feel pain as locals rush to Shenzhen for cheaper prices; luxury and experiential retailers fare better

Posted at 07:30h in Asia

Improved retail sales last year appear to have helped retail landlords, as the average retail rent rose 4 per cent in 2023, according to government data. This put shop rents just 10 per cent below the pre-pandemic peak in February 2019, S&P said.Pedestrians cross a...

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29 Mar Smartphone maker Xiaomi makes waves in crowded EV market with its keenly-priced SU7 model

Posted at 11:30h in Asia

Xiaomi has got off to a racing start in the country’s crowded electric vehicle (EV) market, after saying it sold around 50,000 vehicles within half an hour of the launch of its new model, the SU7.The Chinese smartphone and gadget maker, which has been competing...

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28 Mar BYD chairman Wang Chuanfu expects sales growth to slow in 2024, banks on export surge to shore up profitability

Posted at 13:00h in Asia

BYD, the world’s largest electric-vehicle (EV) maker, is targeting a 20 per cent increase in sales this year, just a third of last year’s tally, as overcapacity concerns and a price war loom over the sector in mainland China.Wang Chuanfu, the Shenzhen-based carmaker’s chairman and...

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26 Mar BYD’s annual earnings surge 81% to all-time high on record EV deliveries, warns of weak consumer demand and global headwinds

Posted at 14:15h in Asia

The Shenzhen-based carmaker, which counts Warren Buffett’s Berkshire Hathaway among its shareholders, said revenue climbed 42 per cent to 602.3 billion yuan in 2023 following record deliveries of new energy vehicles (NEVs). These include pure battery-run EVs, plug-in hybrids and fuel-cell vehicles.Apple’s Tim Cook and...

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26 Mar China Resources Land posts 11.7% profit increase, sees stability ahead for property sector thanks to policy support

Posted at 06:00h in Asia

China’s troubled property market is on track for a gradual return to stability despite the many challenges it still faces, China Resources Land said as it posted another profitable year in 2023, extending its streak through all crises since at least 1997.Earnings at the nation’s...

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21 Mar Apple CEO Tim Cook meets BYD, other key mainland suppliers in Shanghai as US tech giant opens 57th China store

Posted at 13:00h in Asia

At Apple’s office in Shanghai, Cook on Wednesday met two billionaire company founders: Wang Chuanfu, the chairman and chief executive of the world’s largest electric vehicle maker BYD, and Zhou Qunfei, the chairwoman and chief executive of touch screen manufacturer Lens Technology.Also present at the...

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