Author: Daniel snow

[ad_1] Employees at a coal mine in China’s Shaanxi province sit in an office to use digital systems for mining work, according to a photo taken on April 26, 2023, during a media tour organized by Chinese telecoms giant Huawei.Wang Zhao | Afp | Getty ImagesThis report is from this week’s CNBC’s The China Connection newsletter, which brings you insights and analysis on what’s driving the world’s second-largest economy. Each week, we’ll explore the biggest business stories in China, give a lowdown on market moves and help you set up for the week ahead. Like what you see? You can…

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[ad_1] William_potter | Istock | Getty ImagesThe latest version of U.S. President Donald Trump’s “big beautiful bill” could make it cheaper for semiconductor manufacturers to build plants in the U.S. as Washington continues its efforts to strengthen its domestic chip supply chain.Under the bill, passed by the Senate Tuesday, tax credits for those semiconductor firms would rise to 35% from 25%. That’s more than the 30% increase that had made it into a draft version of the bill. Companies eligible for the credits could include chipmakers such as Intel, Taiwan Semiconductor Manufacturing Company and Micron Technology, provided that they expand their…

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[ad_1] Chinese electric car company Xpeng displays its mass-market Mona M03 coupe inside a headquarters’ showroom in Guangzhou, China, on Aug. 26, 2024.CNBC | Evelyn ChengBEIJING — Chinese electric car startup Xpeng is keeping up the sales momentum against its rivals, even as BYD expands on its market dominance amid a fierce price war in China.Xpeng said Tuesday it delivered 34,611 cars in June, its eighth-straight month of delivering more than 30,000 cars.Shares rose more than 2% in New York trading. Xpeng did not specify what portion of the deliveries were for its cars with advanced driver-assist, or for its…

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