Can China reclaim its IPO crown?
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Six months after DeepSeek's breakthrough, China speeds on with AI
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Cash-trapped (part 1): saving amid a property crisis
Open up the balance sheet of a typical Chinese household, and you will see plenty to worry about on both sides of the ledger. Household debt is higher than it was a decade ago, while savings are concentrated in bank deposits or bricks and mortar. This conservative approach to saving may have worked in the past—but now it's showing signs of strain amid a faltering property market, stagnant wages and growing debt distress. In a two-part series, we're asking Chinese families, young professionals and business owners about their money troubles. This week, Jiehao Chen, The Economist 's China researcher, and Simon Cox, our China economics editor, explore how the dream of security through home ownership became a nightmare.
Scottish Sun
10 hours ago
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First four car models that will qualify for £1,500 discount revealed – and they're all from same maker
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) THE first four car models set to quality for a handy £1,500 discount have been revealed. The electric cars have been approved for the discount after a government scheme to cut the price of EV's was greenlit. Sign up for Scottish Sun newsletter Sign up 4 The Citroen E-C3 is one of four vehicles approved for a £1,500 discount Credit: Citroen 4 The new Citroen E-C4 will also be slashed Credit: Citoen The taxpayer-funded drive will mean the motors, all from French carmaker Citroën, will be sold with the grant from this week. The models – the e-C3, e–C4, e-C5 Aircross and the e-Berlingo can be picked up by petrolheads without the need to fill out pesky paperwork. The £650million Electric Car Grant (ECG) was passed in an attempt to slash emissions and boost electric vehicle sales in the UK. Transport Secretary Heidi Alexander said: "With the first four models approved today and more to come over the next few weeks, this summer we're making owning an electric car cheaper, easier and a reality for thousands more people across the UK. "Once again we're delivering our Plan for Change by standing firmly on the side of motorists and manufacturers, driving down costs for consumers, supporting jobs and putting money back in people's pockets." Citroën UK managing director Greg Taylor welcomed the move, saying: "We are delighted to be the first to have our electric range... approved and eligible. "At Citroën we want everyone to have the opportunity to make the switch to an electric car and this support will help make our cars more accessible for our customers." The RAC also backed the policy, saying it would ease the cost barrier for drivers looking to go electric. Simon Williams, RAC head of policy, said: "It's great to see the first qualifying models announced for the government's new Electric Car Grant. "Not only does this mean more drivers will benefit from the lower cost of running an electric vehicle, but it's hopefully the sign of more to come from other manufacturers in the weeks ahead." Stellantis Comeback: Jeep Cherokee & Gas-Powered Dodge Charger Returning in 2025 However, Transport Minister Lilian Greenwood has warned that vehicles made in China may not be eligible. Speaking on the BBC's Today programme, she said factories powered by coal are unlikely to meet the Government's strict criteria. She added that only brands reaching minimum environmental standards will be approved for taxpayer support. This has sparked tension with the Chinese government. A spokesperson for the Chinese embassy in London said the UK must follow World Trade Organisation rules and avoid discriminatory policies. They warned they are monitoring the situation closely and would defend the rights of Chinese companies. Even BYD — China's biggest EV manufacturer — has confirmed it is applying for the grant but, like Leapmotor, has yet to hear back. There's also doubt over the Dacia Spring's eligibility. Although Dacia is a Renault-owned brand, the Spring is built in Wuhan, China, at a joint venture facility shared with Dongfeng Motor Group. Seven low-cost electric cars expected to benefit from the grant — including the Dacia Spring, MG4, Peugeot e-208, Fiat 500e and Volkswagen ID.3 — though most will only get the lower £1,500 discount unless they can prove greener production credentials. But with the Government now focusing on sustainability standards, many of those could also miss out on the full grant unless their makers can prove they meet the green benchmarks. Tax payers are, however, footing the bill for the £650million subsidy scheme, including for EVs leased through Motability, prompting criticism from some quarters. 4 The Citroen C5 Aircross is also included in the shortlist Credit: Citroen
