China news roundup / Nachrichten 2024-04-02/03

26 days ago

Biden tells China's Xi to stay out of US elections

"“I don't think we ever really take the Chinese at their word when they say they will or will not do something,” the senior administration official said. “It is about verifying.”"

--- That would be nice. But I'm not convinced.

"Liu Pengyu, a spokesperson for the Chinese Embassy in Washington said in a statement sent to VOA that China is “committed to the principle of non-interference” and that claims about Beijing influencing U.S. presidential elections are “completely fabricated.”"

--- & commies never lie.

China solar industry faces shakeout, but rock-bottom prices to persist

"Overcapacity in China's solar industry is emblematic of the challenges facing the world's second-biggest economy. High levels of state-guided industrial investment and low levels of household consumption mean many sectors produce more than the domestic market can absorb. Oversupply pushed prices of finished solar panels in China down 42% in 2023, making Chinese panels more than 60% cheaper than U.S.-made equipment"

--- 60%? That's nothing! Just free market with Chinese characteristics.

"Analysts cautioned consolidation was unlikely to significantly support prices in the short term, meaning the dumping concerns being raised by Yellen this week are likely to persist."

--- Yep.

EU launches competition probes into Chinese solar panel firms

"China’s solar panel industry is facing a “survival of the fittest” race as more established companies like Longi absorb smaller players, one analyst told Reuters. The phenomenon is also playing out in China’s electric vehicle market, where dozens of smaller EV makers have emerged in recent years, but only a handful are expected to survive long-term as companies battle it out in a price war that is barely bringing in profit"

--- That's what Beijing wants: Consolidation makes larger companies makes better competitors on the international market makes it easier to corner the market.

Country Garden: China property giant suspends shares in Hong Kong

"Also on Tuesday, shares in Chinese state-backed property developer China Vanke fell to a record low."

--- The recovery is in full swing, it seems.

Taiwan: Rescue efforts continue after 900 injured in earthquake

"Rescue efforts are under way in Taiwan after a 7.4 magnitude earthquake struck the island's eastern coast, killing at least nine and injuring more than 900."

--- If the victim number stays so low, that's a major embarassment for China. Then in the next major Chinese earthquake, the CCP will want to give a number close to zero, no matter how bad the quake.
What's more, a minor storm has just killed just as many people in China partially by blowing people out of their apartments. Chinese news made it out to be a major storm, but acc. to European standards that would be a minor hurricane (ca. 118 km/h).