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Labubu fridge resale prices nearly double ahead of launch

Resale listings for a Labubu-themed refrigerator have surged to nearly double its retail price days before its official debut. On secondary online marketplace Xianyu, some early listings for the limited-edition fridge have climbed to nearly 10,000 yuan ($1,465), up from the official retail price of 5,999 yuan. Chinese collectibles giant Pop Mart announced on April…

Innovation, policies boost growth outlook

Technological innovation and robust policy support for domestic demand are bolstering China’s economic resilience, laying a stable foundation for growth through the remainder of the year, economists said. The assessment follows the Ministry of Finance’s welcoming of the decision by Moody’s Ratings to affirm China’s A1 sovereign credit rating and upgrade its outlook to stable.…

Innovation, policies boost growth outlook

Technological innovation and robust policy support for domestic demand are bolstering China’s economic resilience, laying a stable foundation for growth through the remainder of the year, economists said. The assessment follows the Ministry of Finance’s welcoming of the decision by Moody’s Ratings to affirm China’s A1 sovereign credit rating and upgrade its outlook to stable.…

Domestic gas and oil production helps China weather global headwinds

China secured stable domestic oil and gas supply in the first quarter, effectively dampening external shocks from global geopolitical tensions, including conflicts involving the Middle East, according to authorities. Output of crude oil and natural gas from major industrial enterprises rose 1.3 percent and 3.0 percent year-on-year, respectively, during the first quarter, Xing Yiteng, deputy…

CATL inks deal with Hithium Energy to advance sodium-ion tech

Contemporary Amperex Technology Co Ltd signed a three-year deal to supply 60 gigawatt-hours of sodium-ion batteries to energy storage firm Hithium Energy Storage Technology Co Ltd on Monday, marking what the companies said is the world’s largest order of its kind. The agreement, signed in Ningde, in eastern China’s Fujian province, positions Hithium as CATL’s…

Bulk commodity logistics hubs to secure nation’s mineral supply

The General Administration of Customs will support the development of bulk commodity logistics hubs in China’s comprehensive bonded zones to strengthen the security of strategic mineral supplies, said customs officials on Monday. Speaking at a news conference in Beijing, Pan Cheng, director of the GAC’s department of free trade zone and special control area, said…

Chinese automaker Chery launches new hybrid car in Israel

JERUSALEM — Chinese carmaker Chery launched a new hybrid electric vehicle (HEV) in Israel on Monday, its local distributor Freesbe said in a statement. The model, Chery Tiggo 7 HEV, is a compact crossover SUV powered by a 1.5-liter gasoline engine and an electric motor with a 1.8-kWh battery. The car has a combined power…