With the technology race between the United States and China, the world’s two largest economies, intensifying even though a trade truce was reached in late October, analysts say the prospects of China achieving self-sufficiency in semiconductors and artificial intelligence (AI) are positive, despite American efforts to maintain leads in those fields. “If any country can do it [achieve self-sufficiency in semiconductors], it’s China, owing to its vast resources and pool of engineering talent,”...

BYD, China’s electric vehicle (EV) king, is pinning its hopes on next-generation technology to engineer a turnaround in sales amid fierce competition in the world’s largest automotive market, according to its founder and chairman Wang Chuanfu. Speaking at a shareholders’ meeting in Shenzhen on Friday, the billionaire said the company’s 12,000 engineers – the backbone of the carmaker – would help it regain a technological edge over rivals. “We have heavyweight new technology in the pipeline,” he...

As China’s regions roll out proposals for their next five-year plans, two trends are emerging: localities are preparing to nurture new, highly technological industries while focusing on those sectors best suited to their strengths. Additionally, some areas pledged to bolster their supply of rare earth elements and soybeans, items which gained greater prominence amid this year’s escalatory trade war with the United States. According to data compiled by the Post, at least 22 provincial-level...

As the Chinese leadership prepares to set the economic agenda for the year ahead, analysts expect Beijing to mostly maintain this year’s policy tone but say it could tolerate a slightly lower growth target. Chinese leaders will hold a closed-door meeting to discuss next year’s main policy goals during the central economic work conference, which usually takes place in early or mid-December. “To address the demand slump, we expect Beijing to maintain its proactive fiscal policy stance, with a...

Jigang Group spent decades forging the metal for China’s infrastructure boom. Now, the former industrial titan is building hardware for the final frontier. The state-owned company, once one of the nation’s top steel producers, has secured orders for its first two satellites – an all-important step in its years-long transformation to capture demand in the country’s burgeoning commercial space industry. Reporting this week on the purchase, the Economic Observer said production was expected to...

Country Garden Holdings has cleared a major hurdle this week after securing approval for both its onshore and offshore restructuring plans, offering the embattled developer a lifeline amid mainland China’s property downturn. Sources said the Hong Kong High Court on Thursday endorsed a proposal allowing the indebted developer, once the country’s largest homebuilder by sales, to extend repayment of US$17.7 billion in offshore debt. The creditors now have the option to swap their debt for shares,...

China’s crackdown on borrowing by local governments is forcing state-run entities in even some of the wealthiest provinces to tap costly credit from non-bank lenders, a stopgap that is increasing risk in an opaque corner of the financial system. The borrowing marks a return of China’s shadow-banking market, which is more loosely regulated than traditional lenders and had been reined in over the past few years in a bid to reduce risk. Since September, industrial investment arms and financing...