Local Chinese governments promote 'zero-mileage' used car exports, inflating sales, growth figures
New cars, among them new China-built electric vehicles of the company BYD, are seen parked in the port of Zeebrugge, Belgium, October 24, 2024. REUTERS/Yves Herman/File Photo
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
South China Morning Post
3 hours ago
- South China Morning Post
China to stay cautious as Iran seeks help amid clashes with US, Israel: Middle East expert
Iran may look to China for weapons support amid conflicts with the US and Israel , but Beijing will remain cautious, considering strained economic ties with Tehran and its broader interest in balancing ties with Israel and other Western-aligned states in the region, according to a veteran Chinese expert on the Middle East. Advertisement In an exclusive interview with the South China Morning Post, Pan Guang, a Chinese scholar of Jewish and Middle East studies, said the conflict between Iran and Israel was unlikely to spiral into a broader war, but tit-for-tat retaliation could continue as Tehran pushes ahead with its nuclear programme, which is believed to persist despite US strikes. Tensions escalated after Israel launched strikes on Iran on June 13. The US joined days later, targeting three of Iran's nuclear facilities – marking the most significant Western military action against the Islamic Republic since 1979. Iran retaliated by attacking a US military base in Qatar and striking Israel's strategic port city of Haifa, home to Chinese projects under the Belt and Road Initiative US President Donald Trump brokered a ceasefire between Iran and Israel this week, which has largely held despite initial violations. However, prospects for a durable truce appear dim, as Iran's core nuclear capabilities are believed to remain intact and Israel remains determined to neutralise what it sees as an existential threat. Beijing, a close partner of Tehran, is being closely watched as the conflict unfolds. On Thursday, Iranian Defence Minister Aziz Nasirzadeh joined nine of his counterparts at the Shanghai Cooperation Organisation's defence ministers' meeting in Qingdao, China, where he called for a bigger Chinese role in easing the conflict. Pan said Iran might seek Chinese weapons in light of its escalating tensions with Israel, drawing lessons from Pakistan's recent conflict with India.
South China Morning Post
3 hours ago
- South China Morning Post
Team bus of CSL leaders Beijing Guoan seized over debt issues, players forced to hire bikes
Chinese Super League (CSL) leaders Beijing Guoan have had their team bus seized, forcing players to return from training using shared bikes, as the club's parent company struggles with billions of yuan of debt. Advertisement Pictures on social media on Friday showed the team bus being towed away with its door bearing a seal from the Beijing Intermediate People's Court. Images then started circulating on Chinese social media showing three of the club's foreign players hiring shared bikes and riding away from the training complex wearing their kit. The real estate company Sinobo Group holds a 64 per cent stake in Beijing Guoan and reportedly owes more than 3.68 billion yuan (US$502 million). Despite the off-field issues, Guoan invested heavily in the build-up to the 2025 season, including bringing in former Barcelona manager Quique Setien to lead the team, as well as seven first-team players. Three of the club's foreign players have been pictured hiring shared bikes. Photo: Handout At the halfway stage of the current CSL season, Guoan have yet to lose a match, winning 10 and drawing five to top the league on goal difference. Shanghai Shenhua are second.
South China Morning Post
5 hours ago
- South China Morning Post
Roger Federer's long-term deals see him become tennis' first billionaire
Tennis superstar Roger Federer is now one of the few athletes who can count themselves a billionaire. Federer, who won 20 grand slam titles between 2003 and 2018, amassed US$130.6 million in prize money during a 24-year playing career that ended in 2022. But the bulk of the Swiss star's wealth has come via a series of bumper sponsorship deals, alongside an astute investment in a local sneaker brand. His net worth is about US$1.3 billion, according to the Bloomberg Billionaires Index, putting him in elite company. Michael Jordan's hit an estimated US$3.5 billion after the sale of his stake in the Charlotte Hornets in 2023, while last year Bloomberg calculated Tiger Woods' wealth at about US$1.36 billion. Federer is worth considerably more than US$1 billion, according to people close to him who spoke on condition of anonymity. Bloomberg's valuation takes into account Federer's career earnings, investments and endorsement deals, adjusted for prevailing Swiss tax rates and market performance. Many of his deals have lasted decades, from sponsorships with Credit Suisse bank (now UBS Group AG), watchmaker Rolex and Swiss chocolatier Chocoladefabriken Lindt & Sprungli AG. Roger Federer and his wife, Mirka, at Paris Fashion Week in the French capital on Friday. Photo: AFP Federer has also built a close advisory network around him, including through Team8, the management company he co-founded with long-time agent Tony Godsick in 2013, and also the Swiss firm Format A AG, which helps manage various investments and his charitable foundation.
