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Deal to use mapping data from web search giant Baidu is a big step towards launching driver assistance tech in world’s biggest car marketElon Musk’s visit to China has reportedly reaped immediate rewards with a deal for Tesla to use mapping data provided by web search company Baidu, a big step in introducing driver assistance technology in the world’s largest car market.Musk made an...

Fitch cut to negative comes as country moves away from reliance on growth from property sectorBusiness live – latest updatesFitch has downgraded the outlook on China’s debt as it warned of increased risks to the economy while the country moves away from its reliance on growth from the property sector.On Wednesday the US-based agency said it had revised China’s sovereign credit rating from stable...

Revenue at Chinese telecom rose 10% as net profit more than doublesChinese telecoms firm Huawei grew faster in 2023 than it has for four years, as it shrugged off the impact of US sanctions.Revenues rose by nearly 10% to 704.2bn yuan (£77bn) as the Shenzhen-based company enjoyed a rebound within its consumer segment, which includes smartphone handsets. Continue reading...

Case of Emily Chen, who did a few months’ work for US logistics firm, highlights ‘deteriorating’ climate for foreign firmsChina has detained one of its citizens on spying charges after she did some work for a US company, in a case that experts say highlights the potential risks of working for foreign businesses in the country.Emily Chen, 50, disappeared after flying into Nanjing Lukou...

Plunge in consumer prices has fuelled calls for a stimulus package – yet Beijing may stick to the new normal of lower growth• China consumer prices plunge at fastest rate for 15 yearsChina’s economy has gone from bad to worse – and it is only February.Figures released on Thursday showed consumer prices fell by 0.8% in January compared with a year earlier, outstripping economists’...

Plummeting food prices feed steep annual drop amid renewed calls to stimulate economy and offset weakening demandBusiness live – latest updatesChina’s consumer prices fell at their fastest pace in 15 years in January, as the world’s second-largest economy sank deeper into deflation amid weakening demand.Data released on Thursday showed that China’s consumer price index tumbled last month, falling by 0.8% compared with a year...