GreenergyDaily

Aug. 22, 2024

1. Chinese Premier Li Qiang on Wednesday met with Russian President Vladimir Putin, saying that while consolidating cooperation in traditional areas, China is willing to work with Russia to explore cooperation in emerging areas.

2. China's National Development Bank has successfully released 3-year green financial bonds worth 12 bln yuan (about $1.7 bln) with an issuance rate of 1.63%, bringing its cumulative green financial bonds issuance to 189 bln yuan and reinforcing its commitment to sustainable finance.

3. Xiaomi delivered 27,307 of its SU7 vehicles in the second quarter and expects to hit its goal of delivering 100,000 units by November, ahead of schedule, the Chinese tech giant said today. Revenue from its smart electric vehicle and other new initiatives segment reached CNY6.4 billion (USD897 million) in the quarter.

4. Xiaomi's adjusted net profit rose 20% to CNY6.2 billion (USD870 million) in the second quarter from a year ago, the Chinese smartphone giant said in its latest earnings report today. Revenue jumped 32% to CNY88.9 billion (USD12.5 billion).

5. PwC China has informed its clients it expects a six-month business ban by Chinese authorities as early as September as part of punishment for its audit of collapsed property developer Evergrande, the FT reported on Wednesday. The ban would prevent it from signing off on financial results and initial public offerings and from conducting other regulated activities, the report stated, citing multiple clients.

6. China, the world's largest builder of coal-fired power stations, cut the number of permits for new plants by nearly 80% in the first half of 2024, an environmental group report finds, saying time would tell whether it was a turning point. The Greenpeace East Asia report, based on new project approval data, also found China's combined wind and solar capacity of 11.8 terawatts (TW) exceeded coal capacity (11.7TW) for the first time in the first half, and made up 84.2% of all new grid-connected capacity.

7. "When it comes to China's new EV forces, the first carmakers that come to mind are always Nio, Xpeng Motors, and Li Auto," BYD’s CEO Wang Chuanfu said yesterday. "But BYD's Denza is in fact China’s first luxury car brand focusing on new energy."

8. India overtook China as the world's biggest importer of Russian oil in July as Chinese refiners bought less because of lower profit margins from producing fuels, a comparison of import data showed. Russian crude made up a record 44% of India's overall imports last month, rising to a record 2.07 million barrels per day (bpd), 4.2% higher than in June and 12% more than a year ago, data on Indian shipments from trade and industry sources showed.

9. The Chinese currency RMB retained its spot as the 4th most active currency for global payments by value in July, for the 9th straight month, with its global shares further rising to 4.74%, according to data from SWIFT, a global provider of financial messaging services.

10. The world's 1st self driving supercapacitor tram for airport rapid transit system rolled off the production line in C China's Hunan on Aug 22, 2020. The 70km/h tram for an airport in SW China's Kunming can be fully charged during a 30-second stop and run for 5 km.