China Economy: News & Discussion

[srevster]

 

[srevster]

 

[Spindrift]

India can never become Switzerland because

Spoiler: reason

We don't have basements filled with Nazi gold

 

[srevster]

 

[another_armchair]

Air conditioner market size in India from financial year 2010 to 2020 with estimates up to 2023(in million units)

India: air conditioner market size 2023 | Statista

Climate change has had an unrelenting effect on India.

www.statista.com

A/C demand growth is at a steady 20% and will likely remain so for years to come with rising incomes, urbanization, reliable electricity supply. Any right thinking Govt. would push for greater local sourcing because once installed, A/Cs become a permanent fixture like television or refrigerator in any household.

 

[rockdog]

Air conditioner market size in India from financial year 2010 to 2020 with estimates up to 2023(in million units)

View attachment 200423

India: air conditioner market size 2023 | Statista

Climate change has had an unrelenting effect on India.

www.statista.com

A/C demand growth is at a steady 20% and will likely remain so for years to come with rising incomes, urbanization, reliable electricity supply. Any right thinking Govt. would push for greater local sourcing because once installed, A/Cs become a permanent fixture like television or refrigerator in any household.

AC is the key of industrilization to tropical nations. Human being only desire to work hard with enough long time under 32 degree, I couldn't coding in front of computer when temp higher than 30c.

In the most southern province, the Hainan island, it's 100% covered by AC, the local people still have the habit sleeping 2 hours during the noon. But in Shanghai and other part of China, working people don't sleep after lunch. In ASEAN, rich nation like Singaore only has 1 hour rest during noon.

But AC also would stiumulate the power grid upgrades, this would be challenge to India.

 

[rockdog]

India can never become Switzerland because

Spoiler: reason

We don't have basements filled with Nazi gold

Heard some news, India dig lots of temples with full load of gold underground, can these gold to be circulated into market again?

 

[another_armchair]

AC is the key of industrilization to tropical nations. Human being only desire to work hard with enough long time under 32 degree, I couldn't coding in front of computer when temp higher than 30c.

In the most southern province, the Hainan island, it's 100% covered by AC, the local people still have the habit sleeping 2 hours during the noon. But in Shanghai and other part of China, working people don't sleep after lunch. In ASEAN, rich nation like Singaore only has 1 hour rest during noon.

But AC also would stiumulate the power grid upgrades, this would be challenge to India.

Our grids were stress tested last summer. It was hot. A/c & cooler demand+usage shot up. Our grids survived the stress test.

Our discoms can certainly live up to the rise in demand as capex is no longer a taboo. The hurdles if any would be overcome. Thankfully money under the current ruling dispensation is not a problem and priority sectors get their share of funds without much red tape.

 

[Blademaster]

Our grids were stress tested last summer. It was hot. A/c & cooler demand+usage shot up. Our grids survived the stress test.

Our discoms can certainly live up to the rise in demand as capex is no longer a taboo. The hurdles if any would be overcome. Thankfully money under the current ruling dispensation is not a problem and priority sectors get their share of funds without much red tape.

People need to understand that that is no such thing as a free lunch. If they want AC in their homes, they need to start paying their utility bills because that will drive the discoms to build more and better power plants with more efficient transmission lines & grid which will drive down costs and pass the savings along to the customer. People need to stop stealing electricity and stop thinking that it is their god given right. It is not.

 

[ym888]

Driverless buses are being tested in Guangzhou, China, with free rides.

 

[rockdog]

Driverless buses are being tested in Guangzhou, China, with free rides.

I think the bus finally arrived in Guangzhou International Expo Center, i have been there.

The bus Company is 文远知行: WeRide.

WeRide 文远知行 - To Transform Urban Living with Autonomous Driving

WeRide is a leading, commercial-stage global company that develops Level 4 autonomous driving technologies.

www.weride.ai

I think they are the top auto drive company in the world.

WeRide to test fully driverless cars in Guangzhou for first time

WeRide’s permit for road tests of fully driverless cars on the open road takes it one step closer to the realisation of fully driverless mobility services.

www.scmp.com

 

[Spindrift]

Heard some news, India dig lots of temples with full load of gold underground, can these gold to be circulated into market again?

No, that gold belongs to the Deity to which the temple is dedicated to.

 

[Blademaster]

No, that gold belongs to the Deity to which the temple is dedicated to.

I’m sure the deity wouldn’t mind the gold being monetized to improve the lot of the good. You could “borrow” it.

 

[SexyChineseLady]

China’s Car Buyers Have Fallen Out of Love With Foreign Brands (Published 2023)

Domestic companies are now selling more vehicles than their multinational rivals, which have failed to keep up with Chinese consumers’ demand for electric cars and S.U.V.s.

www.nytimes.com

China’s Car Buyers Have Fallen Out of Love With Foreign Brands
Domestic companies are now selling more vehicles than their multinational rivals, which have failed to keep up with Chinese consumers’ demand for electric cars and S.U.V.s.

By Keith Bradsher
Reporting from Shanghai
April 14, 2023

For years, foreign automakers in China had a bead on customers drawn to luxury brands, like the Cao family in Shanghai. Not anymore.

Ben Cao and his wife, Rachel, both 36, are trading down from two Porsches to one, a gasoline-fueled $290,000 Porsche 911 sports car, and buying their first electric vehicle, a $70,000 sport utility vehicle designed and manufactured in China by a company called Li Auto.

“If you’re sitting in a Li Auto, the first feeling is of luxury,” said Mr. Cao, a business consultant.

The rapid rise of Chinese electric carmakers like Li Auto, BYD, Nio and Xpeng Motors is the main preoccupation of the executives, engineers and designers arriving in Shanghai for the start of the city’s auto show next Tuesday. The country is now the world’s largest car market, and the home teams are routing multinational competitors that had until now mined the riches of China’s giant pool of customers. Buyers like the Caos, and China’s car companies, have embraced electric vehicles much more rapidly than almost anyone anticipated.
...
“Multinationals’ market share in China will likely continue to decrease due to the continuous development of Chinese automakers, especially in the electric car segment,” said Stephen W. Dyer, a managing director in the Shanghai office of Alix Partners, a consulting firm.
As foreign automakers encounter problems in China, they are being pushed to shift more quickly to electric cars in Europe and the United States. The European Union and California want automakers to sell only zero-emission vehicles by 2035. And the Biden administration this week proposed emissions rules that would effectively require about two-thirds of new passenger cars sold in the United States to be electric by 2032 — standards that some automakers have complained are too stringent.

With a couple of exceptions like Tesla, which China welcomed in 2018 for its technology, Beijing has compelled foreign companies to operate through joint ventures with Chinese automakers. Over the past four decades, multinational companies have trained an entire generation of Chinese auto engineers — many of whom now work for highly competitive domestic rivals.

Today the number of cars sold by the foreign companies’ joint ventures has plummeted as sales of gasoline-powered vehicles have shrunk and E.V.s have soared. Electric cars were almost a quarter of China’s market last year, compared with less than 6 percent in the United States, and are expected to be over a third by the end of this year.

Ford Motor sold one million cars and light trucks in China in 2016 and in 2017 but barely 400,000 last year. Hyundai Motor, the South Korean giant, sold 1.8 million cars in China in 2016 and only 385,000 last year.
...

Until the last several years, Chinese automakers vied to put their displays close to multinational brands like Mercedes-Benz, in the expectation that Chinese car buyers would flock to the multinational brands and might see the local brands along the way.

But now, it’s Chinese electric car brands that other companies want to surround on the showroom floor, said Bill Russo, a former chief executive of Chrysler China. “You want to be closer to them — the Chinese companies have the hottest battery electric vehicles,” he said. “Foreign automakers don’t have the same halo now.”

 

[rockdog]

China’s Car Buyers Have Fallen Out of Love With Foreign Brands (Published 2023)

Domestic companies are now selling more vehicles than their multinational rivals, which have failed to keep up with Chinese consumers’ demand for electric cars and S.U.V.s.

www.nytimes.com

China’s Car Buyers Have Fallen Out of Love With Foreign Brands
Domestic companies are now selling more vehicles than their multinational rivals, which have failed to keep up with Chinese consumers’ demand for electric cars and S.U.V.s.

By Keith Bradsher
Reporting from Shanghai
April 14, 2023

For years, foreign automakers in China had a bead on customers drawn to luxury brands, like the Cao family in Shanghai. Not anymore.

Ben Cao and his wife, Rachel, both 36, are trading down from two Porsches to one, a gasoline-fueled $290,000 Porsche 911 sports car, and buying their first electric vehicle, a $70,000 sport utility vehicle designed and manufactured in China by a company called Li Auto.

“If you’re sitting in a Li Auto, the first feeling is of luxury,” said Mr. Cao, a business consultant.

The rapid rise of Chinese electric carmakers like Li Auto, BYD, Nio and Xpeng Motors is the main preoccupation of the executives, engineers and designers arriving in Shanghai for the start of the city’s auto show next Tuesday. The country is now the world’s largest car market, and the home teams are routing multinational competitors that had until now mined the riches of China’s giant pool of customers. Buyers like the Caos, and China’s car companies, have embraced electric vehicles much more rapidly than almost anyone anticipated.
...
“Multinationals’ market share in China will likely continue to decrease due to the continuous development of Chinese automakers, especially in the electric car segment,” said Stephen W. Dyer, a managing director in the Shanghai office of Alix Partners, a consulting firm.
As foreign automakers encounter problems in China, they are being pushed to shift more quickly to electric cars in Europe and the United States. The European Union and California want automakers to sell only zero-emission vehicles by 2035. And the Biden administration this week proposed emissions rules that would effectively require about two-thirds of new passenger cars sold in the United States to be electric by 2032 — standards that some automakers have complained are too stringent.

With a couple of exceptions like Tesla, which China welcomed in 2018 for its technology, Beijing has compelled foreign companies to operate through joint ventures with Chinese automakers. Over the past four decades, multinational companies have trained an entire generation of Chinese auto engineers — many of whom now work for highly competitive domestic rivals.

Today the number of cars sold by the foreign companies’ joint ventures has plummeted as sales of gasoline-powered vehicles have shrunk and E.V.s have soared. Electric cars were almost a quarter of China’s market last year, compared with less than 6 percent in the United States, and are expected to be over a third by the end of this year.

Ford Motor sold one million cars and light trucks in China in 2016 and in 2017 but barely 400,000 last year. Hyundai Motor, the South Korean giant, sold 1.8 million cars in China in 2016 and only 385,000 last year.
...

Until the last several years, Chinese automakers vied to put their displays close to multinational brands like Mercedes-Benz, in the expectation that Chinese car buyers would flock to the multinational brands and might see the local brands along the way.

But now, it’s Chinese electric car brands that other companies want to surround on the showroom floor, said Bill Russo, a former chief executive of Chrysler China. “You want to be closer to them — the Chinese companies have the hottest battery electric vehicles,” he said. “Foreign automakers don’t have the same halo now.”

I think from Q1 2023, China's car export is already No.1, more than Japan.

Q1 2023, China's vehicle export 0.994 million vehicles, 80.6% increase in domestic vehicle export 0.826 million vehicles, 82.9% increase in commercial vehicle export 0.168 million vehicles, 28.1% increase in new energy vehicle export 0.248 million vehicles, 0.364 million vehicles in particular, 0.364 million vehicles in 3 months, 10.6 percent growth in 3 months, 1.1 times more than Japan in terms of export volume, this year China's exports exceeded 4 million vehicles.

Exports in March shot up 14.8 from a year ago, snapping five straight months of declines and much better than the 7.0% fall forecast by analysts. Imports dropped just 1.4%, smaller than the 5.0% decline forecast and a 10.2% contraction in the previous two months.

China's exports stun with surprise surge on EV boom - ET Auto

Electric Vehicles: Exports in March shot up 14.8 from a year ago, snapping five straight months of declines and much better than the 7.0% fall forecast by analysts. Imports dropped just 1.4%, smaller than the 5.0% decline forecast and a 10.2% contraction in the previous two months.

auto.economictimes.indiatimes.com

 

[SexyChineseLady]

I think from Q1 2023, China's car export is already No.1, more than Japan.




Exports in March shot up 14.8 from a year ago, snapping five straight months of declines and much better than the 7.0% fall forecast by analysts. Imports dropped just 1.4%, smaller than the 5.0% decline forecast and a 10.2% contraction in the previous two months.

China's exports stun with surprise surge on EV boom - ET Auto

Electric Vehicles: Exports in March shot up 14.8 from a year ago, snapping five straight months of declines and much better than the 7.0% fall forecast by analysts. Imports dropped just 1.4%, smaller than the 5.0% decline forecast and a 10.2% contraction in the previous two months.

auto.economictimes.indiatimes.com

You are right! Growth in exporting both traditional combustion engines and EVs. But EVs obviously more important for the future.

China is following the tradition path set by Japan and Korea in making the exports of electronics to ships to high speed rail to autos as their cornerstone exports. The big difference is between Korea/Japan and China is China also has aircraft and aircraft engine, spacecraft and orbital launch sectors.

 

[SexyChineseLady]

China installs more industrial robots every year than the rest of the world combined.

Where humans are needed on the manufacturing floor they developed special human-friendly high-tech solutions!

Manufacturing is always being refined. This is how you can find 23 Y-20s (not fighters but huge transports -- the biggest transports being built anywhere) at Xian!

 

[srevster]

Look at all the purchasing power of the weeds and plants. It's overflowing demand for EVs so much so that the cars remain parked for over a year and change ownership between different car makers so the EV companies can claim subsidies.

 

[srevster]

 

[srevster]

Secret Videos Sneaked Out Of China

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