US new tariff offset

Despite EU tariffs on electric vehicles, China is projected to remain the world’s top car exporter in 2025 with an estimated 5.58 million units shipped, up 14% year-on-year. Major automakers like SAIC are diversifying product lines to include hybrid models to counter trade barriers, while BYD and Chery dominate European and Southeast Asian markets.

Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates were invited to become new BRICS members. The decision was announced at a special news conference during the 15th BRICS Summit in Johannesburg, South Africa. The expansion marks a new starting point for BRICS cooperation. It will inject new vitality into the mechanism of BRICS cooperation and further strengthen the forces of global peace and development. The BRICS expansion is historic, reflects the resolution of the BRICS countries to unite and cooperate with other developing countries, meets the expectations of the international community, and serves the common interests of emerging markets and developing countries.

China aims to accelerate the industrialization of new materials like superconducting materials, graphene and liquid metal that are now considered critical to the development of high-tech industries, the country's top industry regulator said. The Ministry of Industry and Information Technology and the State-owned Assets Supervision and Administration Commission jointly released a list of important new materials whose industrialization will be advanced. These materials represent the direction of the development of the new materials industry, which is an important entry point for building new growth engines, the ministry and the commission said. They also called for their subordinate bodies to encourage enterprises to advance the industrialization of graphene in sectors like rail traffic, aerospace equipment, new energy and new-generation information technologies. Also, more e...