A Weekly Business Briefing from Yicai June 14th

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- A Weekly Business Briefing from Yicai

June 14th

Cover Story：

EU Threat of Tariff Hikes on Chinese EVs Draws Fire From Various Quarters

The European Union's decision to slap sharply higher tariffs on electric vehicles imported from China has been denounced by organizations and businesses, including European carmakers and Germany’s auto industry body, with China’s commerce ministry calling it “blatant protectionism.” Read more please check EU Threat of Tariff Hikes on Chinese EVs Draws Fire From Various Quarters

[Mega Projects] Shanghai to Grant up to USD1.4 Million Subsidies for Disruptive Tech Projects

Shanghai will give up to CNY10 million (USD1.4 million) subsidies to disruptive technology projects fields such as semiconductors and green energy in the Yangtze River Delta region to advance development. Read more please check Shanghai to Grant up to USD1.4 Million Subsidies for Disruptive Tech Projects

[Industry Focus] China's Solar Sector to Wrap Up First Phase of Supply Chain's Global Expansion in Three to Five Years, GCL Chair Says

China's photovoltaic industry will likely complete the first phase of the international expansion of its entire supply chain within three to five years, according to the chairman of?integrated energy service provider Golden Concord Holdings. Read more please check China's Solar Sector to Wrap Up First Phase of Supply Chain's Global Expansion in Three to Five Years, GCL Chair Says

[New Investment] German eVTOL Maker Lilium to?Set Up APAC HQ in China's Drone Hub Shenzhen

German electric vertical takeoff and landing aircraft manufacturer Lilium will base its Asia-Pacific headquarters in Shenzhen, a city in southern China's Guangdong province with a complete drone supply chain and excellent low-altitude airspace conditions. Read more please check German eVTOL Maker Lilium to?Set Up APAC HQ in China's Drone Hub Shenzhen

[ASEAN] China to Open Shortest Waterway From Guangxi to ASEAN in 2026

China will finish a 134-kilometer canal in southern parts of the country by 2026 to connect the Guangxi Zhuang Autonomous Region with the Association of Southeast Asian Nations such as Vietnam and Malaysia. Read more please check China to Open Shortest Waterway From Guangxi to ASEAN in 2026

ESG Focus:

China Should Use Market-Driven Approach to Gradually Form PCF Accounting Standards, Experts Say

Regarding the lack of national and industry standards for product carbon footprint accounting in China, several industry experts suggested adopting a market-driven approach. A batch of products for research and development of carbon accounting standards should be selected and implemented on a trial basis, the experts told Yicai. Read more please check China Should Use Market-Driven Approach to Gradually Form PCF Accounting Standards, Experts Say

Opinion:

Seeing Is Believing: IMF Upgrades China’s Near-Term Prospects

By Mark Kruger, Yicai Global's Opinion Editor and Senior fellow to the Yicai Research Institute.

The IMF staff?completed?its most recent Article IV mission to China on May 28. Before returning to Washington, First Deputy Managing Director Gita Gopinath and her colleagues conducted a press briefing to share their key findings.?The mission upgraded its forecast for GDP growth in 2024 and 2025 to 5.0 and 4.5 percent, respectively. These represent upward revisions of 0.4 percentage points, in each year, from the projections made in April’s World Economic Outlook (WEO).?Read more please check Seeing Is Believing: IMF Upgrades China’s Near-Term Prospects