China has been making significant strides in the electric vehicles industry, with the country’s investment in this sector gaining global attention. The man who spearheaded China’s electric car strategy, Wan Gang, emphasized the potential for Chinese investment in the European electric vehicles industry as a way to navigate trade tensions. This move could be mutually
Finance
Europe, as highlighted by Prince Constantijn of the Netherlands, is facing a critical risk of lagging behind the United States and China in the field of artificial intelligence. The focus on regulation within the EU poses a significant threat to the region’s ability to compete globally in AI innovation. Constantijn expressed concern that Europe’s ambition
In a panel discussion during the World Economic Forum’s “Summer Davos” meeting, Bonnie Chan, the CEO of Hong Kong Exchanges and Clearing Limited, emphasized the need for more diverse applications of the Chinese yuan to elevate its global standing. The Chinese government has long expressed its aspirations to position the yuan as a prominent currency
Cisco’s Greater China head expressed great optimism about the company’s increasing business with Chinese electric car manufacturers as they venture overseas. The electric vehicle (EV) segment is emerging as one of the U.S. tech giant’s top priorities in the region, with manufacturing companies, particularly those in the electric car industry, being a significant revenue generator.
China has been a major player in the development of the electric car industry, having invested a substantial $230.8 billion over more than a decade. This investment has accounted for 18.8% of total electric car sales between 2009 and 2023. However, the scale of government support has been on the decline, dropping from more than
New York has taken the lead in launching a new program that offers homeowners up to $14,000 in total rebates for energy-efficiency upgrades to their property. This initiative is part of the federal Inflation Reduction Act, which is the largest piece of climate legislation in U.S. history, signed by President Joe Biden in 2022. The
The ratings agency Fitch has adjusted its forecast for China’s policy rate cuts, now anticipating that a reduction will not occur until next year. This change in outlook comes as a result of the U.S. Federal Reserve maintaining high interest rates, which has implications for global monetary policy decisions. Fitch’s latest projection suggests that China
British fintech firm Zilch made headlines by securing a remarkable $125 million in debt financing from Deutsche Bank, a move that is set to revolutionize its growth trajectory. The deal, structured as a securitization, will not only triple the company’s sales in the next few years but also pave the way for a potential initial
Americans have experienced a boost in their buying power over the past year as inflation has decreased and the job market has strengthened. According to the U.S. Bureau of Labor Statistics, the average worker in the private sector has seen their real hourly earnings increase by 0.8% from May 2023 to May 2024. This means
Xreal, an Alibaba-backed startup, has introduced the Beam Pro device, revolutionizing the augmented reality (AR) experience for users. The Beam Pro serves as a bridge between AR glasses and Google Play Store apps, offering a virtual mouse-like functionality that opens up a world of possibilities for gaming, movie streaming, and social media interactions. With the