A bridge in China collapsed during severe flooding on Saturday, April 20, after several days of torrential rain and strong winds. The collapse, captured by a security camera, occurred in Guangdong province. Earlier-than-usual flooding has hit the southern region since Thursday, leading to evacuations and the search for 11 missing individuals.
China has successfully tested a new 130-ton-thrust reusable rocket engine, marking a significant milestone in the development of its reusable rocket program. The engine is expected to power the Long March 10 rocket, which is designed for human spaceflight missions, including future crewed missions to the moon.
Foreign direct investment (FDI) into China has declined in recent months due to new working models adopted by international companies and Beijing’s emphasis on self-reliance. According to data from the Ministry of Commerce, new actual utilized foreign investment in March fell 38% compared to the same month in 2023. This decline follows a trend of slower growth in foreign investment since the first quarter of the year.
China’s most promising industries are facing a growing threat of trade restrictions from Western governments, blurring the outlook for stocks that have the potential to fuel the nation’s market growth. The sectors under scrutiny include electric vehicles, wind and solar projects, medical devices, and chips. These industries are of strategic importance to President Xi Jinping’s bid for leadership in the global race toward green transition and high-tech development. The rising tensions come at an inopportune time, as stocks were starting to emerge from a multi-year slump.
Christopher Berry, of Witney, and Christopher Cash, of Whitechapel, were arrested in March 2021 in connection with the investigation. They are accused of breaching the Official Secrets Act and passing on information prejudicial to the safety or interests of the State. One of the men, Cash, was a Parliamentary pass holder at the time of the alleged offenses. Commons Speaker Sir Lindsay Hoyle has reminded MPs that they should not refer to the matter in the chamber due to the sub judice rule.
The U.S. and Philippines have commenced the 39th edition of Balikatan, their largest joint military exercise, involving 16,000 troops as tensions rise between the Philippines and China in the South China Sea. The exercise includes maritime operations, cyber training, and the sinking of a former Philippine Navy asset. China has expressed opposition to the presence of U.S. weapons systems in the region, while the Philippines and the U.S. emphasize the importance of mutual defense treaty obligations.
Li Auto has once again reduced prices on its electric vehicles in China, leading to a decline in its share prices. The automaker lowered prices by 18,000 to 30,000 yuan on its L7, Li L8, Li L9, and Li MEGA models. Customers who bought these models earlier in the year will receive cash refunds. This move comes amidst increasing competition in the Chinese electric vehicle market, where manufacturers are aggressively pricing their vehicles to attract customers.
The Fallout TV show has introduced a major revelation about the nuclear apocalypse, suggesting that Vault-Tec, not China, may have triggered the war. However, this theory has been met with skepticism, and there is evidence to suggest that China may still have been the first to attack.
Russia anticipates Chinese President Xi Jinping’s presence at the upcoming BRICS summit in Kazan, Russia. The summit will prioritize collaborations in politics, economics, culture, and humanitarianism. Notably, several nations have expressed interest in joining the BRICS grouping.
Tesla has implemented significant price reductions for its vehicles in the United States, China, and Germany. The company’s Model Y, Model X, and Model S vehicles have seen a $2,000 decrease in the US, while the price of Full Self-Driving software has been lowered from $12,000 to $8,000. Tesla has also reduced prices in China and Germany, with the Model 3 seeing a price cut of 14,000 yuan ($1,930) in China. This recent round of price cuts comes amid a decline in Tesla’s stock value, which has fallen to its lowest point in 15 months. Tesla’s stock may continue to face selling pressure due to an upcoming earnings report that is expected to show a decline in demand and a potential negative free cash flow quarter.
