2. China used its “unreliable entity listing” for the primary time ever to sanction Lockheed Martin and Raytheon over promoting arms to Taiwan. The transfer is suspected to be a response to the American blacklisting of six Chinese language entities over the “spy balloon” drama in January. (CNN)
3. Whereas the official casualty rely from China’s newest wave of covid infections is 83,150, estimates from epidemiology specialists are a lot increased, starting from 970,000 to 1.6 million. (New York Occasions $)
4. Now is just not a superb time for Chinese language metaverse believers. Each ByteDance and Tencent reported layoffs final week of their virtual-reality-related groups. (Yicai World)
5. Experience-hailing app DiDi’s comeback in China exhibits the fragile stability between the federal government’s objectives of containing Large Tech and fostering financial progress. (Wired $)
6. ASML, the Dutch lithography machine firm, accused a former China-based worker of stealing confidential data within the final couple of months. (Bloomberg $)
7. Bao Fan, a Chinese language billionaire banker who brokered among the largest acquisitions within the Chinese language tech business, has gone lacking with no rationalization. (BBC)
Misplaced in translation
Constructing a charging infrastructure that may serve the quickly rising variety of EVs in China has turn into a difficult difficulty. As Chinese language publication Time Weekly reported, in the course of the Lunar New 12 months interval, Chinese language EV house owners on street journeys needed to wait at freeway service stations for hours earlier than they might cost their vehicles. The identical occurred final summer season when an excessive warmth wave disabled the grid in some elements of China.
At the moment, for every public charging submit in China, there are greater than 12 EV house owners who can’t cost at house of their densely populated city neighborhoods. The shortage of public infrastructure has impressed some house owners to lease out their personal charging posts, since these posts aren’t getting used 90% of the time. The income from renting them out, which might attain over 2,000 RMB ($290) yearly, assist repay the prices of putting in them. However to this point, most house owners of personal charging posts have but to appreciate that sharing is a risk: it’s estimated that solely 2.1% are shared with different EV house owners.
With Ford saying its battery manufacturing plan with CATL, Quartz reporter Mary Hui seen an interesting historic parallel. In 2023, this deal helps the Chinese language battery large lastly break into the US market, whereas US-China relations are rocked by scandals surrounding a Chinese language spy balloon. Again in 2001, a deal between Ford and a Chinese language automaker helped the US auto large break into the Chinese language market, whereas the connection between the 2 nations was … interrupted by scandal surrounding a US spy airplane. Coincidence? I believe not.