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Li Auto plans to give its 20,000 employees annual bonuses of up to eight months’ pay for exceeding the 300,000-unit sales target last year. The carmaker has set a goal of delivering 800,000 units this year.
China is expected to increase curbs on renewable power plant output due to grid capacity issues. The curtailment rates, known as curbs, are likely to rise this year and slow down China's energy transition. The State Grid's pledge to keep curtailment rates within 5% by 2020 has been challenging due to surging solar and wind installations. Investment in power generation projects has outpaced growth in power transmission projects. China's rapid addition of wind and solar power has put it ahead of its 2030 installation target.
Some of China’s biggest provincial economies are looking to expand and diversify their financial resources this year, largely to fund economy-boosting construction projects, but analysts say this could run counter to Beijing’s de-risking campaign.
The latest partnership between Samsung Electronics and Baidu on the Galaxy S24 series might hardly help the Korean smartphone giant regain its lost market share in China, according to consumers and analysts, Thursday.
Mainland Chinese EV builders’ 2024 has got off to a bumpy start, after car deliveries dropped sharply amid mounting concerns about a slowing economy and job losses.