
More recent developments

Chery signs surprise battery agreement with LGES, as automakers seek battery supply diversification
Chinese automakers are taking aim at CATL's battery dominance. On Monday, China’s fourth-largest automaker, Chery, entered a surprise agreement with South Korea's LG Energy Solution (LGES) to purchase 8 GWh of nickel-manganese-cobalt (NMC) batteries through 2030. Some context: Once the… Read More »

MoF injects capital into BoC and BoCom
China’s finance ministry (MoF) has begun recapitalizing the country's biggest banks to bolster financial stability. ICYMI: In March, Beijing announced plans to issue RMB 500 billion of special treasury bonds (STBs) this year to replenish the tier-1 capital of China’s… Read More »

Beijing steps up borrowing in Jan-May to support spending
Beijing has aggressively front-loaded bond issuance to boost spending this year. Some context: During March's annual legislative meeting, policymakers raised the budget deficit from 3% to 4% of GDP for 2025 – the biggest deficit ratio since the pandemic. Beijing isn't… Read More »