Seneca ESG

03 Feb Tencent Announces to Sue ByteDance after Prosecuted by TikTok

Posted at 15:57 by Sophia Gu

Tencent [0700:HK] on February 2 issued a response to TikTok’s lawsuit against it, stating that the allegations were inconsistent with the facts and malicious, as reported by Sina on February 3. Tencent pointed out that TikTok violated users' rights and claimed to sue ByteDance, TikTok’s...

03 Feb China’s NEV Battery Recycling: Two Main Methods and Current Problems

Posted at 10:22 by Una Qu

The recycling of batteries becomes an increasing topic amid the boom of China’s new energy vehicle (NEV) industry. The service life of automobile traction batteries is five to eight years, while these batteries cannot continue being used for cars when the energy capacity decays to...

02 Feb Tesla Apologizes to State Grid for Its Misleading Statement

Posted at 09:28 by Sophia Gu

Tesla [TSLA:US] released a video through its official Weibo [WB:US] account to apologize to State Grid for a misleading statement by the US firm’s employee, as reported by Caixin on February 1. On January 29, a Tesla car owner in Nanchang found that his new...

28 Jan CRRC Completes China’s First Hybrid Hydrogen Fuel Cell Locomotive

Posted at 16:00 by Una Qu

State-owned rolling stock manufacturer CRRC Corporation [1766:HK] has finished its self-developed hybrid locomotive, equipped with a hydrogen fuel cell on January 27, as reported by People.cn on January 28. This is China’s first hybrid locomotive and is a breakthrough in use cases for hydrogen energy...

28 Jan EU-China’s Comprehensive Agreement on Investments from an ESG POV

Posted at 14:41 by Eileen Li

The EU and China on December 30, 2020 made a consensus for the Comprehensive Agreement on Investments (CAI) between China and the EU. Following seven years of back and forth, this would replace 26 current agreements between 27 separate EU countries and China. Thus, such...

28 Jan MIIT Orders 157 Apps to Rectify Infringements on User Information

Posted at 11:45 by Haiyan Luo

Ministry of Industry and Information Technology (MIIT) published the first batch of problematic mobile applications on January 22. Such apps illegally collected and used users’ personal information, as reported by JRJ.com on January 25. The list involves apps from many listed companies, including Tencent [0700:HK],...

28 Jan A Look at China’s NEV Battery Industry: Two Main Battery Types and Their Leading Producers

Posted at 10:44 by Una Qu

China Automotive Battery Innovation Alliance (CABIA), on January 13, published battery data for new energy vehicles (NEVs) for 2020. Last year, the cumulated production yield and sales volume of batteries were 83.4 gigawatts (GWh) and 65.9GWh, respectively, down 2.3% YoY and 12.9% YoY due to...

28 Jan PBoC to Propose New Anti-Monopoly Rules for Non-Banking Payment Industry

Posted at 09:23 by Haiyan Luo

PBoC has drafted regulation to strengthen supervision over non-banking institutions’ payment services on January 20, as reported by JRJ.com on the same day. Notably, the policy this time adds anti-monopoly measures for the non-banking payments industry. Moreover, the regulation highlights the requirement of non-banking payment...

22 Jan CDB Offers RMB488.8bn in Loans for Yangtze River Protection

Posted at 11:25 by Ningjing Liu

The China Development Bank (CDB) granted RMB488.8bn in loans for the protection and green development of the Yangtze River basin last year, representing an increase of 27% YoY, as reported by Xinhua on January 20. Specifically, RMB89.4bn was given to support the ecological preservation and...

22 Jan FAW-Volkswagen Purchases 30,160 Green Electricity Certificates from Huadian Kangbao

Posted at 11:15 by Ningjing Liu

The Foshan branch of FAW-Volkswagen, the joint venture between FAW Group and Volkswagen [VOW:GR], purchased 30,160 green electricity certificates from Hebei Huadian Kangbao Wind Power in a deal on January 18, which corresponded to 30.16m kilowatt-hours (kWh) of non-hydro renewable power in total, as reported...

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