
China's Gen Z Spending Spree Is Fueling a Lopsided Stocks Boom
China's Gen Z is going on a shopping spree and it's fueling an unusual stock boom. They're spending on everything from toys to bubble tea — emotional consumption, as some call it. But is this enough to spur China's economy? (Source: Bloomberg)
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World's first all open-door large-scale fire test of 5MWh battery system completed
A Chinese energy storage technology firm has completed the world's first all-open-door large-scale fire test of its ∞Block 5MWh battery energy storage system (BESS). The test conducted on Hithium energy storage device offers a high-stakes technical model to inform future product safety standards and set a validation benchmark in this revealed that as thermal runaway and other safety incidents in BESS draw increasing concern, more rigorous and standardized safety testing is urgently needed. The open-door fire test was developed to meet this requirement—featuring four ultimate test challenges that are all open-door combustion, dual 15cm extreme spacing, fire suppression system deactivated, and 100% State of Charge (SOC).The test strictly adhered to UL 9540A, NFPA 855 safety standards and was conducted by UL Solutions, a globally recognized safety certification authority, and witnessed by certified U.S. fire protection engineers and customers. The system structure remained intact, with no fire propagation to any of the three adjacent containers despite undergoing 15 hours of full combustion. This result validates Hithium's multi-layered passive safety architecture and thermal isolation capabilities, even under the most extreme conditions, according to a press revealed that during all open-door combustion, the container doors remained fully open throughout the test, creating an unrestrained combustion environment with intensified oxygen flow—far more severe than traditional closed-door the dual 15cm extreme spacing test, the BESS were placed side by side and back to back with just 15cm spacing. Despite flames over 1300°C, no thermal propagation occurred, proving effective close-range isolation. In one of the tests, all fire suppression systems were deactivated. The system relied solely on passive fire protection to withstand prolonged intense fire, demonstrating autonomous fire resistance and BESS was tested at full capacity to maximize thermal energy release, validating the system's reliability and stability under the harshest conditions. Hithium stressed that the latest achievement highlights HiTHIUM's commitment to innovation and quality, providing valuable insights for future safety standards in the industry. "Moving forward, Hithium will continue to advance safety performance through technology leadership and global collaboration, driving the industry toward a safer and more reliable future," said the company in a statement. Industry experts hailed the trial as a 'qualitative leap' in energy storage fire safety testing, significantly increasing difficulty across fire dynamics, spatial constraints, charge state, and response conditions. The results not only enhance the credibility of safety claims but offer a replicable framework for establishing more practical, real-world safety benchmarks, reported PV Magazine. Hithium ranked 4th globally in energy storage battery shipments in 2024, delivering 35.1 GWh, according to Infolink's latest market data.
Yahoo
an hour ago
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US Fed set to hold rates steady in the face of Trump pressure
The US central bank is expected to keep interest rates unchanged for a fourth straight policy meeting this week, despite President Donald Trump's push for rate cuts, as officials contend with uncertainty sparked by the Republican's tariffs. While the independent Federal Reserve has started lowering rates from recent highs, officials have held the level steady this year as Trump's tariffs began rippling through the world's biggest economy. The Fed has kept interest rates between 4.25 percent and 4.50 percent since December, while it monitors the health of the jobs market and inflation. "The hope is to stay below the radar screen at this meeting," KPMG chief economist Diane Swonk told AFP. "Uncertainty is still very high." "Until they know sufficiently, and convincingly that inflation is not going to pick up" either in response to tariffs or related threats, "they just can't move," she said. Since returning to the presidency, Trump has slapped a 10 percent tariff on most US trading partners. Higher rates on dozens of economies are due to take effect in July, unless an existing pause is extended. Trump has also engaged in a tit-for-tat tariff war with China and imposed levies on imports of steel, aluminum and automobiles, rattling financial markets and tanking consumer sentiment. But economists expect it will take three to four months for tariff effects to show up in consumer prices. Although hiring has cooled slightly and there was some shrinking of the labor force according to government data, the unemployment rate has stayed unchanged. Inflation has been muted too, even as analysts noted signs of smaller business margins -- meaning companies are bearing the brunt of tariffs for now. At the end of the Fed's two-day meeting Wednesday, analysts will be parsing through its economic projections for changes to growth and unemployment expectations -- and for signs of the number of rate cuts to come. The Fed faces growing pressure from Trump -- citing benign inflation data -- to lower rates more quickly, a move the president argues will help the country "pay much less interest on debt coming due." On Wednesday, Trump urged Fed Chair Jerome Powell to slash interest rates by a full percentage point, and on Thursday, he called Powell a "numbskull" for not doing so. He said Powell could raise rates again if inflation picked up then. But Powell has defended US central bank independence over interest rates when engaging with Trump. - 'Cautious patience' - For their part, Fed policymakers have signaled "little urgency" to adjust rates, said EY chief economist Gregory Daco. He believes they are unwilling to get ahead of the net effects from Trump's trade, tax, immigration and regulation policy changes. Powell "will likely strike a tone of cautious patience, reiterating that policy remains data dependent," Daco said. While economists have warned that Trump's tariffs would fuel inflation and weigh on economic growth, supporters of Trump's policies argue the president's plans for tax cuts next year will boost the economy. On the Fed's path ahead, HSBC Global Research said: "Weak labor market data could lead to larger cuts, while elevated inflation would tend to imply the opposite." For now, analysts expect the central bank to slash rates two more times this year, beginning in September. The Fed is likely to be eyeing data over the summer for inflationary pressures from tariffs, said Ryan Sweet, chief US economist at Oxford Economics. "They want to make sure that they're reading the tea leaves correctly," he said. Swonk warned the US economy is in a different place than during the Covid-19 pandemic, which could change how consumers react to price increases. During the pandemic, government stimulus payments helped households cushion the blow from higher costs, allowing them to keep spending. It is unclear if consumers, a key driver of the economy, will keep their dollars flowing this time, meaning demand could collapse and complicate the Fed's calculus. "If this had been a world without tariffs, the Fed would be cutting right now. There's no question," Swonk said. bys/jgc
Yahoo
an hour ago
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When Golden Sunflower Meets Bauhinia: HONGQI Showcases Oriental Luxury at 2025 International Automotive and Supply Chain Expo(Hong Kong)
CHANGCHUN, China, June 14, 2025--(BUSINESS WIRE)--From June 12 to 15, FAW HONGQI unveiled its luxury vehicle lineup at the 2025 International Automotive and Supply Chain Expo(Hong Kong), showcasing its unique "Oriental Luxury" concept to the world. During the expo, HONGQI held the "Glory in Hong Kong, Shaping the Future Together" Golden Sunflower Exclusive Appreciation Event, which forged profound connections between HONGQI and local customers. With its outstanding products and rich brand heritage, HONGQI continues to expand the global influence of Chinese luxury brands. Qiu Xiandong, Chairman of China FAW Group Co., Ltd. attended the opening ceremony of the 2025 International Automotive and Supply Chain Expo(Hong Kong) and the launch ceremony of the China Automotive and Supply Chain Enterprises Overseas Alliance, and delivered a speech. He stated that FAW Group aims to strengthen cooperation in industry, ecology, finance, and technological innovation, and is willing to partner with Hong Kong in creating a new legend. The HONGQI Golden Sunflower series vehicles, representing the pinnacle of Chinese automotive craftsmanship—GUOYAO, GUOLI, GUOYA, and GUOYUE—profoundly demonstrate HONGQI's mastery of design aesthetics, safety standards, and manufacturing quality. These vehicles became the center of attention at the event. The entire Golden Sunflower series of models demonstrates remarkable market appeal and injects strong momentum into HONGQI's successful entry into Hong Kong. During the Golden Sunflower Exclusive Appreciation Event, Liu Changqing, Assistant President of China FAW Group Co., Ltd. and Vice President of HONGQI Brand Operation Committee presented a customized commemorative gift to Wong Yan Kwong, the Chairman of KONSTAR Group and Hong Kong HONGQI Enthusiasts Association. Qiu Xiandong, Chairman of China FAW Group Co., Ltd. , presented a top-tier luxury sedan—GUOLI, to Lo Man Tuen, the Chairman of the Wing Li Group (International) Limited. At the 2025 International Automotive and Supply Chain Expo(Hong Kong), HONGQI unveiled a range of classic and modern models. The unveiling of precious models such as the HONGQI CA770, the right-hand-drive version of the CA770, and the CA72 carried the deep affection and cherished memories of several generations for China's high-end automotive industry. The three models —H9, HQ9, and E-HS9—showcased HONGQI's dedication to product excellence and technology development. Additionally, the HONGQI "TianNian NO.1" flying car became a major highlight of the auto show with its forward-looking technological concepts and innovative design. In the next five years, HONGQI will launch over 20 new models globally, including new energy vehicles, fuel-efficient models, and Golden Sunflower series models. HONGQI is committed to delivering more high-quality vehicles that earn the trust of global consumers—driving Chinese automotive brands to new heights in the world. View source version on Contacts Lin Dingdinglin7@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data