China bureau chief @WSJ. Formerly of Korea, New York, Hong Kong bureaus. Author of KOREAN MESSIAH (Alfred A. Knopf), out now. koreanmessiah.com
Joined September 2011
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May 22
“Totalitarian repression, as well as assistance from powers such as China and Russia, help explain the regime’s resilience. ‘Korean Messiah’ by Jonathan Cheng, a journalist at the Wall Street Journal, sheds light on a less appreciated force: faith.”
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By one measure, connected cars can contain more than 100 million lines of code, sourced from dozens of suppliers. Officials are concerned that the vast amount of data gathered by modern vehicles could be dangerous in the wrong hands.
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Because vehicles receive continuous updates throughout their life cycle, software introduced years after production could potentially include restricted components, said Yoav Levy of Upstream Security, an automotive cybersecurity platform.
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“Compliance is not a one-time certification at vehicle launch, but requires ongoing software governance, supply-chain visibility and monitoring of over-the-air updates,” he said. “Ensuring that no Chinese software ever enters a vehicle is very difficult.”
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Chinese Connected-Car Software Ban Shows Cracks—A federal push to keep adversary-linked software out of smart vehicles on U.S. roads has ‘meaningful gaps,’ cybersecurity experts say
@angusloten
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But so far, it is being left to automakers to self-certify compliance, said Ran Ish-Shalom of PlaxidityX, a security firm for connected vehicles. “That no-ongoing-maintenance condition is the hardest…to verify from outside the supplier relationship.”
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Under the ban, carmakers are required to attest that software in core vehicle systems wasn’t updated or modified by Chinese suppliers. Starting with 2027 models, connected cars are barred from containing any China-linked software.
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The rollout of a federal ban on software with ties to China in internet-connected cars is flawed and unlikely to keep sensitive data away from prying eyes, cybersecurity experts say.
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Jun 11
China Is Propping Up the World Economy by Importing a Lot Less Oil—Beijing plugs a three-million-barrel hole with little visible disruption, but analysts aren’t sure how long it can keep going
@RebeccaYFeng
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Vortexa’s Li predicted Chinese users would further tap its reserves—and the surprising resilience could persist. She said refiners were better off using reserves than buying expensive crude on the spot market.
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“Based on our calculation, even if the inventory drawdown rate picks up to more than one million barrels a day, China’s commercial reserves alone are enough to sustain another six months,” she said.
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BYD has sought to revive business with technology announcements such as five-minute flash charging, long battery warranties and pledges to cover the cost of any accidents caused by its “God’s Eye” driver-assistance system.
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The focus on innovation marks a change from the price cuts that drove BYD’s spectacular growth in earlier years. The Chinese government last year clamped down on what it saw as excessive competition in the EV industry, fearful of a vicious price war.
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As the local market struggles, Chinese carmakers are accelerating their export push. BYD founder Wang Chuanfu said Tuesday that it planned to be the world’s largest automaker within five years, according to a summary of the meeting.
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Everyone Loves Chinese Cars, Except the Chinese—Domestic market shrinks 20%, hitting carmakers’ profits and pushing them to export more
@StephenWilmot @raffaelehuang
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For the first quarter, many Chinese automakers reported their worst results in years. BYD’s net profit roughly halved to $590 million, its lowest since 2022. Smaller players such as XPeng are suffering losses in a market crowded with hundreds of models.
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Consumers were already hesitant in an economy hit by deflation and high youth unemployment. Retail sales in China grew just 0.2% in April. “We need to do something to really rebuild consumer confidence,” said Stella Li, executive vice president at BYD.
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In January, Beijing halved a tax exemption for plug-in vehicles and reduced subsidies when people trade in an old vehicle for an EV, hitting sales. Then, in March, the Iran war led to rising gasoline prices, hurting sales of traditionally powered cars.
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Year-to-date car sales are running nearly 20% below last year, hitting profits at the country’s top carmakers. The troubles at home are pushing Chinese carmakers—including foreign brands manufacturing there—into an even more aggressive expansion overseas.
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Chinese scholars Zhu He, Guo Kai to OECD: “Even if China were to eliminate all subsidies, the new economy’s prospects and global competitiveness would not be undermined, because they were never created by subsidies.”
@YuxuanJia02 @ZichenWanghere
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“Rao Yi, a veteran scientist, said in a speech last month that China merited two world records: for its scientific progress and for its academic misconduct…Mr Rao argued that the proportion of bad work in China is exceptionally high.”
@S_Rabinovitch
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New-car sales in China, the world’s largest new-vehicle market, fell 22% in May compared with the same month a year earlier to around 1.5 million vehicles. That was the eighth straight month of year-over-year declines.
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