Sinkhole in China swallows cars, injuring 3 people
A sinkhole opened suddenly on a road in Hebei province, swallowing two vehicles and injuring three people.
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South China Morning Post
13 hours ago
- South China Morning Post
Hong Kong shouldn't let lack of space hold up Guangdong driver scheme: minister
Hong Kong should not be held back by a lack of land or parking spaces in pushing ahead with a plan to let Guangdong province residents drive to the city , the transport minister has said, as she reiterated that the scheme would be rolled out with strict controls. Secretary for Transport and Logistics Mable Chan told lawmakers on Wednesday that the government was working with mainland Chinese authorities to implement the scheme and had ruled out the need to establish separate restricted zones or roads for the vehicles. 'Preparations also include evaluating traffic and road capacity at border crossings to manage vehicle flow and avoid peak congestion, as well as strengthening immigration procedures, transport infrastructure and contingency plans,' she said. The Southbound Travel for Guangdong Vehicles scheme has been the subject of discussion for years and was originally expected to start at the end of 2024 or early this year. Chan said authorities would develop strict risk protocols such as requiring vehicles arriving in Hong Kong to comply with safety regulations and be covered by third-party insurance. The government would also prepare clear information on application procedures, driving rules and available amenities to provide convenience while maintaining strict controls, she noted.
The Standard
13 hours ago
- The Standard
South Korea halts loudspeaker broadcasts along border with rival North Korea
FILE - A South Korean military vehicle with loudspeakers is seen in front of the barbed-wire fence in Paju, near the border with North Korea, on Feb. 15, 2018.(AP Photo/Ahn Young-joon, File)
South China Morning Post
16 hours ago
- South China Morning Post
Under Beijing's thumb, BYD and other carmakers pledge to speed up payments to suppliers
More than a dozen Chinese carmakers, including BYD , pledged to cut payment cycles to suppliers to 60 days from as long as a year after Beijing moved to police the nation's auto market, which has been engaged in a bruising price war. Advertisement On Tuesday evening, the 14 companies – including state-owned FAW and GAC Group – said the move came as a result of recent regulatory guidance on the sustainable development of China's automotive sector. On paper, carmakers delay payments so they can use those funds to wage a price war, creating a hidden and interest-free debt. But for suppliers of components – from batteries for electric vehicles (EVs) to car seats – longer payment cycles can cause cash flow problems. 'The concerted action by the leading carmakers represents the first step that Chinese authorities [have taken] to regulate the automotive industry,' said Chen Jinzhu, CEO of consultancy Shanghai Mingliang Auto Service. 'Automotive companies will eventually refrain from offering steep discounts as government agencies tighten oversight of their sales strategies.' On May 31, the Ministry of Industry and Information Technology said authorities would punish carmakers that unreasonably slashed vehicle prices to vie for market share, though it did not detail the measures that Beijing would take. Advertisement Prolonged payment cycles are seen by analysts and industry officials as an irregularity in China's auto industry. Carmakers often force their suppliers to accept delayed payments in exchange for big orders. According to data from Bloomberg, Shenzhen-based BYD took 275 days to pay its suppliers in 2023, up from 219 in 2022 and 198 in 2021. Data for 2024 was not available.
