Ambassador Guo Haiyan Attends the 2025 Kenya-China Economic & Trade Association Annual Meeting
On March 25, at the invitation of the Kenya-China Economic&Trade Association, Ambassador Guo Haiyan attended the 2025 Association Annual Meeting and delivered a speech. Minister-Counselor Zhou Zhencheng from the Embassy accompanied her, and nearly 100 representatives from member companies attended the meeting.
In her speech, Ambassador Guo fully recognized the work of the Association over the past year and highly praised its positive contributions to promoting pragmatic economic and trade cooperation between China and Kenya, as well as to the economic and social development of Kenya.
Ambassador Guo encouraged the enterprises to seize the current opportunities, continuously pursue innovation, and promote the upgrading of cooperation between the two sides. She urged the enterprises to operate in compliance with the law, fulfill their social responsibilities, and pay attention to risk prevention to ensure safe production and operations. She also called on the enterprises to earnestly implement the important consensus reached by the two heads of state and to effectively advance the Ten Partnership Initiatives in Kenya, thereby jointly creating a new chapter in China-Kenya relations.
Distributed by APO Group on behalf of Embassy of the People's Republic of China in the Republic of Kenya.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
2 hours ago
- Zawya
Iraq to invest in refineries in India, China
OPEC member Iraq is planning to invest in refineries in India, China and other Asian countries to market its crude and boost income, a government adviser has said. Hatim Al-Fadli said studies for such projects would be carried out soon and negotiations with potential partners would start during 2025-2026. He told Iraq's Al-Sumeria news agency on Tuesday that such investments would cover high-capacity oil refineries including existing facilities and construction of new units. 'The studies include investment in the refining sector abroad, particularly China, India, South Korea, Vietnam and Indonesia,' he said. 'We have chosen these countries because of their rapid growth in energy demand and their high populations…these are large consumer markets that will help Iraq expand its market share and diversify its supplies,' he added. Al-Fadli said the negotiations with potential partners in those countries could result in signing agreements through 2026-2027 and that the projects could involve investing in existing refineries and construction of new facilities. 'Iraq prefers to partly own those projects or enter partnership deals to reduce risks…as for funding, we are studying various forms of finance, including joint funding with global companies or Asian governments or loans from development banks,' he said. (Writing by Nadim Kawach; Editing by Anoop Menon)
Zawya
3 hours ago
- Zawya
Why China's auto, tech giants threaten Tesla's self-driving future
AUSTIN, Texas - Chinese electric-vehicle makers led by BYD beat Tesla in the competition to produce affordable electric vehicles. Now, many of those same fierce competitors are pulling into the passing lane in the global race to produce self-driving cars. BYD shook up China's smart-EV industry earlier this year by offering its 'God's Eye' driver-assistance package for free, undercutting the technology Tesla sells for nearly $9,000 in China. 'With God's Eye, Tesla's strategy starts to fall apart,' said Shenzhen-based BYD investor Taylor Ogan, an American who has owned several Teslas and driven BYD cars with God's Eye, which he called more capable than Tesla's 'Full Self-Driving' (FSD). It's not just BYD. Other Chinese auto and tech companies are offering affordable EVs with FSD-like technology for a relative pittance. China's Leapmotor and Xpeng, for instance, offer systems capable of highway and urban driving in $20,000 vehicles. A slew of Chinese firms are chasing the same technology, an industry push backed by China's government. BYD's assisted-driving hardware costs are far lower than Tesla's, according to analyses performed for Reuters by companies that dismantle and analyze vehicles for automakers. The comparisons, which have not been previously reported, show that BYD's costs to procure components and build a system with radar and lidar are about the same as Tesla's FSD, which doesn't have such sensors. That undercuts Tesla's unusual technological approach, which aims to save costs by nixing such sensors and relying solely on cameras and artificial intelligence. The rising competition from Chinese smart-EV players is among the chief problems confronting Tesla CEO Elon Musk after his rocky tenure as a Trump administration advisor as he refocuses on his business empire - as Tesla vehicle sales are tanking globally. The stakes are made higher by a moment-of-truth challenge this month in Tesla's home base of Austin, Texas, where it plans to launch a robotaxi trial with 10 or 20 vehicles after a decade of Musk's unfulfilled promises to deliver self-driving Teslas. Tesla did not respond when reached for comment about its Chinese competitors. Previously, Musk has described Chinese car companies as the most competitive in the world. Chinese competition was one factor driving Tesla's strategic pivot away from mass-market EVs last year, when Reuters reported it had killed plans to build an all-new EV expected to cost $25,000. Musk has since staked Tesla's future instead on self-driving robotaxis, the hopes for which now underpin the vast majority of the automaker's stock-market value of roughly $1 trillion. Now Tesla faces the same stiff competition on vehicle autonomy from many of the same Chinese automakers who undercut its affordable-EV plans. Adding to the challenge are tech firms including Chinese smartphone giant Huawei, which supplies autonomous-driving technology to major Chinese automakers. Short of full autonomy, today's driver-assistance systems offer a critical competitive edge in China, the world's largest car market, where Tesla sales are falling amid a protracted price war among scores of homegrown EV brands. Tesla is further handicapped by China's regulations preventing it from using data collected by Tesla cars in China to train the artificial intelligence underpinning FSD. Tesla has been negotiating with Chinese officials, so far without success, to get permission to transfer such data back to the United States for analysis. Tesla's competitors in China do benefit from subsidies and other forms of policy support from Beijing for advanced assisted driving technology. Their advantages also stem from another consequential factor: cut-throat smart-EV competition that has characterized their industry over the past decade. The resulting EV boom created economies of scale and the industry's tendency to forgo some profit margins to expand new technologies' market penetration quickly, leading to lower manufacturing costs. STREETS OF SHENZHEN BYD investor Ogan, of Shenzhen-based Snow Bull Capital, has a front-row seat to China's autonomous-tech battleground. He recently drove several BYD models equipped with God's Eye, he said, and didn't have to take over driving in any of them while traveling the congested streets of Shenzhen, a bustling southern China megalopolis of 18 million people. Another notable smart-EV player in China is Huawei, experts say. Huawei lends its technology and branding to a half dozen automakers including heavyweights Chery, SAIC and Changan, and has lower-profile partnerships with more than a dozen other carmakers, Huawei representatives said. Reuters journalists rode in an Aito M9 — a luxury electric SUV from Seres with Huawei driver-assistance technology — as it navigated Shenzhen roadways in April. With a driver's hands off the wheel, the vehicle exited a highway seamlessly into a congested urban zone, where the M9 proceeded cautiously and slowed to a crawl as a construction worker appeared like he might walk into the roadway. At one point the vehicle turned right and slowly drifted left to avoid two men unloading boxes from a parked truck. The vehicle then parallel parked itself at Huawei's Shenzhen headquarters. Huawei was among several Chinese companies, including automakers Zeekr, Changan and Xpeng, that touted progress towards fully-autonomous cars at April's Shanghai auto show, even as Beijing announced a new marketing crackdown on terms such as 'smart' and 'intelligent' driving in the wake of a deadly crash in a Xiaomi vehicle involving driver-assistance technology. Huawei said it's ready to undergo a new validation regime being developed by Chinese regulators to certify so-called Level 3 driving systems, meaning they are capable enough to allow drivers to look away unless notified by the system to take over. Zeekr, a luxury brand of China auto giant Geely, also plans to soon sell cars with Level 3 systems. Tesla has yet to release such an "unsupervised" version of FSD because its technology needs more training to operate without a driver's hands on the wheel and eyes on the road. Tesla plans to launch self-driving robotaxis in Austin this month. Little is known about its plans. The company has said it aims to initially deploy between 10 and 20 fare-collecting driverless robotaxis in restricted geographic areas of the city, which Tesla has not publicly identified. 'GOD'S EYE' ON THE CHEAP Chinese EV makers are moving quickly to develop driver-assistance systems in a market where car-buyers are demanding them at a faster pace than in other regions, analysts say. Their ability to do so at lower costs poses the biggest threat to Tesla's new autonomy-based business model. BYD buyers can get an FSD-comparable version of God's Eye as a standard feature in cars priced at about $30,000. The cheapest FSD-equipped Tesla in China is a Model 3 selling for about $41,500. According to an analysis by A2MAC1, a Paris-based tear-down firm that benchmarks components, the mid-level God's Eye version most comparable to Tesla's FSD runs on an Nvidia computing chip with data collected through 12 cameras, five radars, 12 ultrasonic sensors, and one lidar sensor, at a cost of $2,105. That compares to $2,360 for Tesla's FSD, which uses cameras without sensors and two AI chips, the firm estimates. Cameras, radar and ultrasonic sensors are 40% cheaper in China than comparable devices in Europe and the United States, A2MAC1 estimates. Lidar sensors cost about 20% less, the firm says. Sensor costs have fallen because China's EV boom created economies of scale, said A2MAC1 engineer Elena Zhelondz. The fierce competition also pushed carmakers and suppliers to accept lower profits on driver-assistance equipment, she said. BYD's 22% gross margin will likely fall as it gives away God's Eye but it will benefit from a vehicle-sales boost, said Chris McNally, head of global automotive and mobility research for advisory firm Evercore. MORE CARS, MORE MILES, BETTER AI Falling behind the Chinese brands on driver-assistance technology would compound Tesla's challenges in China, where it's already losing market share to rivals including BYD, which sells an entry-level EV for less than $10,000. The growing scale of BYD and others could also provide a technological advantage: Racking up more miles on China roads helps train the AI technology needed to perfect automated-driving systems. BYD has a 'clear and ongoing market-share driving advantage' over Tesla in gathering such on-road data to refine God's Eye, Evercore's McNally said, adding that advantage might only increase as offering God's Eye for free helps sell more BYD vehicles. BYD's scale also helps lower costs by providing uncommon leverage over suppliers. In November, a BYD executive in charge of passenger-vehicle operations wrote to suppliers telling them that the automaker sold 4.2 million vehicles last year (more than double the number of Teslas sold) because of 'technical innovation, economies of scale, and a low-cost supply chain.' The executive noted the new year would likely bring more growth, but also fiercer competition. Without specifically mentioning God's Eye, he ended the letter by asking the suppliers for an across-the-board 10% price cut on all parts and systems starting on January 1, calling the new year a final 'knockout round.' (Reporting by Norihiko Shirouzu in Austin. Additional reporting by Chris Kirkham in Los Angeles and Zoey Zhang in Shanghai. Editing by Mike Colias, Brian Thevenot and Anna Driver.)
Zawya
3 hours ago
- Zawya
US Stocks: Wall Street ends higher as investors track US-China trade talks
The S&P 500 ended higher on Tuesday, lifted by a rally in Tesla as investors bet on positive results from U.S.-China trade talks aimed at defusing a tariff dispute that has roiled global markets this year. Wall Street expects improved trade terms after relief from a preliminary deal struck last month was overshadowed by Washington's allegations that Beijing was blocking exports of rare earth minerals critical to the aerospace, semiconductor and defense sectors. U.S. Commerce Secretary Howard Lutnick said the trade talks were going well and he hoped they would end on Tuesday night, but said they could run into Wednesday. The U.S. stock market has surged in recent weeks, recovering from an April slump sparked by U.S. President Donald Trump's "Liberation Day" sweeping global tariffs. With investors betting the United States will reach trade agreements that reduce Trump's steep trade barriers, the S&P 500 is now trading just below its February record highs. "The expectation is that they'll figure this out, and that the Liberation Day tariff levels are never going to be seen. You can't get to market valuations where we've got them and have those tariff levels get anywhere close to reality," said Scott Ladner, chief investment officer at Horizon Investments. Shares of Wall Street's most valuable companies were mixed. Tesla rose 5.6%, while Microsoft slipped 0.4%. Alphabet climbed 1.4% after Reuters reported that OpenAI plans to add Alphabet's Google cloud service to meet its growing needs for computing capacity. The S&P 500 climbed 0.55% to end the session at 6,038.81 points. The Nasdaq gained 0.63% to 19,714.99 points, while the Dow Jones Industrial Average rose 0.25% to 42,866.87 points. Of the 11 S&P 500 sector indexes, 10 rose, led by energy , up 1.77%, followed by a 1.19% gain in consumer discretionary. Volume on U.S. exchanges was relatively heavy, with 18.5 billion shares traded, compared to an average of 17.9 billion shares over the previous 20 sessions. Investors are awaiting U.S. consumer prices data on Wednesday for clues to the Federal Reserve's rate trajectory. The World Bank slashed its global growth forecast for 2025 by 0.4 percentage point to 2.3%, saying higher tariffs and heightened uncertainty posed a "significant headwind" for nearly all economies. Insmed shares jumped almost 29% after the drugmaker said its experimental drug significantly reduced blood pressure in the lungs and improved exercise capacity in patients in a mid-stage study. J.M. Smucker's shares tumbled 15.6% after the Jif peanut butter maker forecast annual profit below estimates. Snap ended down 0.1% after the social media platform said it would launch its first-ever smart glasses for all consumers next year, ratcheting up competition with Meta in the wearable technology market. Advancing issues outnumbered falling ones within the S&P 500 by a 2.0-to-one ratio. The S&P 500 posted 12 new highs and 2 new lows; the Nasdaq recorded 75 new highs and 45 new lows. (Reporting by Kanchana Chakravarty and Sukriti Gupta in Bengaluru, and by Noel Randewich in San Francisco; Additional reporting by Purvi Agarwal; Editing by Devika Syamnath, Pooja Desai and Aurora Ellis)
