At the Asia Pacific Petroleum Conference, the focus was on the decline in oil demand due to China’s slowing economy. China, the largest oil importer and second-largest consumer, saw a contraction in consumption for the fourth consecutive month. This, along with oversupply, led to lower U.S. crude prices. Experts predict that oil prices could fall…
China’s economy is facing a slowdown due to a real estate slump that has impacted local government finances and debt. The drop in property values and reduced land purchases by developers are affecting revenue at the district and county level. Local governments are struggling to recover financially, leading to efforts to claw back tax revenue…
According to Turkish industry ministry sources, BYD’s investment in Turkey is going smoothly, despite China’s recent warning to its carmakers about investing overseas. Discussions with other Chinese carmakers for new investments are also ongoing. The sources, who requested anonymity, confirmed that talks are still in progress. This news comes after reports that China’s commerce ministry…
China’s commerce minister, Wang Wentao, is heading to Brussels to negotiate with the EU’s trade commissioner regarding proposed tariffs on Chinese electric vehicles. The EU’s decision to impose tariffs of up to 36% on Chinese imports has caused tension, with China seeking dialogue to address concerns over unfair subsidies. The tariffs are set for a…
China has sped up its Tianwen-3 mission to Mars, aiming for a 2028 launch, two years earlier than planned. This move comes as the US faces delays and rising costs with its Mars sample mission. China intends to collect 600 grams of Martian soil, returning it to Earth by July 2031. This effort could establish…