China's new economic frontiers
The metropolis is already a rail-powered gateway to foreign markets – now, it wants to go one step further.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
South China Morning Post
4 hours ago
- South China Morning Post
Trump says tariffs talks with China ‘moving along well'
US President Donald Trump said on Wednesday that talks with China on a tariff deal were 'moving along well' and that both countries would reach a 'fair' deal on trade, without offering additional details of the long-awaited agreement. Advertisement 'We're moving along with China. We're doing fine with China,' Trump told reporters at the White House. 'I think it's going to work out very well. We're right in step … I think we're going to have a very fair deal with China,' he added. Trump's latest comment came a day after delegations from both countries finished a third round of high-level talks in Sweden, ahead of an August 12 expiration of a pause on additional tariffs that the world's two largest economies slapped on each others' goods. Beijing and Washington had been expected to extend their tariff truce another three months, sources on both sides told the South China Morning Post before discussions began on Monday. The Chinese embassy in Washington has not responded to a request for comment. This month it noted that China's exports to the US declined by 24 per cent year on year in the second quarter of 2025, with the situation 'equivalent to the first quarter of 2020 when the economy activity was stagnant' during the pandemic. 02:07 China, US finish Stockholm trade talks with divergence on timing of tariff pause extension China, US finish Stockholm trade talks with divergence on timing of tariff pause extension At separate press briefings on Tuesday in Stockholm, US and Chinese negotiators, while calling their discussions 'constructive', diverged on the timing of the fresh tariff pause.
South China Morning Post
8 hours ago
- South China Morning Post
CATL posts 34% profit growth, defying weak global EV demand and geopolitical uncertainties
The company's net profit rose 34 per cent year on year to 16.5 billion yuan (US$2.3 billion) in the three months to June, beating market estimates. That was up from a 32.9 per cent increase in the March quarter. Second-quarter revenue grew 8.3 per cent to 94.2 billion yuan, following a 6.2 per cent gain in the previous quarter, according to a Hong Kong stock exchange filing on Wednesday. CATL's battery materials and recycling business showed a 26.42 per cent increase in gross margin, more than triple the number a year ago, according to the filing. This increase contributed to a 1.57 percentage point rise in the overall gross profit margin. The strong results go against weak global demand for EVs and declining battery prices, as economic and geopolitical uncertainties saw consumers become hesitant to make significant purchases. A fierce domestic price war also continues to rage in mainland China, the world's largest EV market. Still, CATL's gross profit margin in its core power battery business fell 22.41 per cent in the first half, down from 23.48 per cent a year earlier.
South China Morning Post
9 hours ago
- South China Morning Post
US-China trade talks: why Beijing unexpectedly emerged in a stronger position
Trade relations between China and the United States remain mired in uncertainty after two days of tense negotiations in Sweden earlier this week. But Beijing may actually have emerged in a stronger position as Washington continues to raise tariffs on other global economies, analysts said. A third round of US-China trade talks in Stockholm ended on Tuesday with China announcing that both sides had agreed to extend their 'tariff truce' by another 90 days, while the US side insisted the deal was still pending US President Donald Trump's final approval. That means, if nothing unexpected happens, the US will continue to impose 30 per cent additional tariffs on China after August 12, when the original truce is due to expire. The rate includes 20 per cent of duties Trump announced in the first quarter of the year, which were related to China's role in the fentanyl trade, and another 10 per cent levy imposed in April. But in relative terms, China's tariff rate is starting to look less damaging, as the US moves to impose higher rates on a slew of major trading partners before an August 1 deadline set by Trump. The gap between tariffs on China and various Southeast Asian nations is reducing fast Amitendu Palit, researcher 'It is interesting that the gap between tariffs on China and various Southeast Asian nations is reducing fast,' said Amitendu Palit, senior research fellow at the Institute of South Asian Studies at the National University of Singapore.
