To The Moon

AsianFin--U.S. President Joe Biden announced new tariffs Tuesday on Chinese EVs, semiconductors, batteries, solar cells, steel and aluminum. The tariffs on EVs will rise to 100%, quadrupling the current tariff of 25%.  Biden is directing the tariff on solar cell imports from China to double to 50%. Tariff rates on certain steel and aluminum products will more than triple to 25%, up from 7.5% or less. The Biden administration is also doubling tariffs on Chinese semiconductors from 25% to 50% and increasing tariffs on Chinese medical supplies, batteries, critical minerals and ship-to-shore cranes.  These steps together will raise tariffs on $18 billion in imports from China, the White House says, as the administration keeps in place Trump-era tariffs on China under Section 301.&nbs

TMTPost -- China-founded online fast fashion giant Shein may overhaul its initial public offering (IPO) plan and prepare for a U.K. listing as hurdles it faces in the U.S. remains. AI Generated Image Shein plans to update China’s securities regulator on the change of IPO venue and could file with the London Stock Exchange (LSE) as early as this month due to regulatory hurdles in U.S. and pushback from American lawmakers, Reuters reported, citing people familiar with the matter. Shein was said to confidentially file for U.S. IPO last November and approached the China Securities Regulatory Commission (CSRC) to seek approval the same month. While the plan to float itself in U.S. is still on the table, Shein has started to explore a listing on the LSE with its financial and legal advisors ear

TMTPost -- The Chinese government is kicking off issuance of muti-billion-dollars’ special sovereign bonds this week, ramping up fiscal boost of the world’s second largest economy. AI Generated Image China will issue RMB1 trillion (US$138 billion) of ultra-long special treasury bonds starting Friday to raise funds for the implementation of major national strategies and build up security capacity in key areas, the Ministry of Finance (MoF) said Monday. Issuance of the first batch of  such bonds with terms of 20 years, 30 years and 50 years will begin on May 24, May 17 and June 14, respectively, and complete by mid-November, namely auction of the final batch of 30-year notes on November 15, according to the schedule released on the website of MoF on Monday. In his Government

AsianFin--The U.S. government on Thursday added 37 Chinese entities to its trade blacklist, citing national security concerns, with 11 of them accused of being connected with a suspected spy balloon that flew over sensitive areas of the United States last year. Entities listed, including companies, research institutions, and others, face restrictions on engaging in business with U.S. firms. Prior approval from the U.S. Commerce Department is required for U.S. entities to acquire goods and technologies from these Chinese entities. Out of the 37 listed, 22 are included due to their involvement in China's quantum technology advancements and their attempts to procure U.S.-origin items to enhance the country's quantum capabilities, according to BIS. Additionally, some entities are linked to dev

TMTPost -- Shares of Zhejiang Zeekr Intelligent Technology Co., Ltd., a Chinese electric vehicle (EV) startup under Volvo’s owner Zhejiang Geely Holding Group, jumped around 34.6% to US$28.26 on Friday, a shockingly robust debut in U.S. market despite reported upcoming elevated tariffs on Chinese EVs. Credit：Zeekr Zeekr sold 21 million American depositary shares (ADSs) at $21.00 piece, 3.5 million shares more than its planned offering size. With an offer price at the top of a marketed range of $18.00 to $21.00, Zeekr raised $441 million, creating the biggest U.S. initial public offering (IPO) by a China-based company since Didi Global Inc.’s listing in June 2021. Base on the close of Friday, Zeekr commanded a market value of nearly $6.9 billion, still 47% lower than its post-money valuati

 TMTPost -- Head of German auto giants warn that the European Union could only hurt its industry and green transition  if tariffs on Chinese electric vehicles (EVs) were imposed. Credit：BMW "You could very quickly shoot yourself in the foot," Oliver Zipse, chairman and CEO of BMW Group, issued an warning against tariffs after the company reported quarterly results. The leader claimed fears about an onslaught of Chinese EV arriving on the Europe were overblown and that imposing restrictions completely contradicted free trade. China, as BMW's second-largest market after Europe, made up nearly 32% of sales in the first quarter. “And as soon as [Chinese car makers] begin to gain a foothold in Europe, we’re getting worried, although they’re not even fully here yet,” Zipse s

TMTPost -- China vows to do whatever it takes to safeguard its interests in response to reported new U.S. tariffs on key strategic sectors including electric vehicles (EVs). Credit：China Central Television “We urge the US to follow WTO rules, lift all additional tariffs on China and not to impose new ones. China will take all necessary measures to defend its rights and interests,”  Chinese Foreign Ministry spokesperson Lin Jian responded to the reported U.S. tariffs on China would come next week at a regular press on Friday.  Section 301 tariffs imposed by the former U.S. administration on China have severely disrupted normal trade and economic exchanges between China and the United States, and the WTO has already ruled those tariffs against WTO rules, Lin commented. The U.

AsianFin--"At this year's Beijing Auto Show, apart from checking out the cars, the biggest attraction was observing the people, especially foreigners. You could bump into several waves of overseas visitor groups at the show," a person who just attended the Beijing Auto Show told TMTPost. Indeed, this has been a new feature of this year's Beijing Auto Show. Almost every corner of the exhibition was filled with foreigners. A founder of a new energy brand told TMTPost, "Compared to last year's Shanghai Auto Show, this year's Beijing Auto Show is much livelier, mainly because of the surge in overseas participants." According to statistics released by the Beijing Auto Show Organizing Committee, the show saw 1,148 foreign media people and 7,401 overseas dealers. Over the 10-d

 TMTPost -- China’s electric vehicle (EV) startup Zhejiang Zeekr Intelligent Technology Co., Ltd. Is set to make the largest Chinese inssuance on Ameircan bourses in more than two years. Credit：Zeekr Zeekr, a premium EV brand owned by Zhejiang Geely Holding Group Co., Ltd. (Geely), priced its initial public offering (IPO) at US$21.00, the top of a marketed range of US$18.00 to US$21.00 it released last Friday, Reuters and Bloomberg reported Thursday. Based on the reported offer price, Zeekr will sell 17.5 million American depositary shares (ADSs) to raise US$441 million when it starts trading on the New York Stock Exchange under the ticker ZK on Friday. The deal will become the biggest U.S. offering by a China-based company since LianBio’s US$374 million listing i

TMTPost -- Tesla Inc. may obtain approval from the Chinese government to conduct tests of robotaxi as the U.S. electric vehicle behemoth is striving to deploy its self-driving technology in the country. Credit：Tesla Tesla CEO Elon Musk proposed testing its Full Self-driving (FSD) functions of its vehicles in the Chinese market by deployment of robotaxi, a new generation self-driving taxi services, during his visit to China, the state-backed newspaper China Daily learned from various sources. The newspaper cited sources that Beijing may offered partial support for the plan to test robotaxi. Chinese officials told Musk that China "welcomes Tesla to do some robotaxi tests in the country" and hopes it to "set a good example", but authorities didn't immediately approve its widespread use