Chinese President Xi Jinping told CATL on Monday he had mixed feelings about its status as the world's largest battery maker - remarks that come at a time when the company is rapidly expanding abroad and moving to undercut domestic rivals.
"Emerging industries must do a good job in planning, figuring out how big the market is and where the risks are. They should avoid marching ahead alone in an invincible fashion, only to be caught out by others and fail in the end," Xi was quoted as saying.Beijing has in recent years tightened its grip over the country's biggest companies, regulating how they do business in and outside China on areas from fundraising to data security.
CATL did not immediately respond to a request for comment. Xinhua did not say whether Zeng had responded to Xi.Reporting by Zhang Yan and Brenda Goh; Editing by Edwina Gibbs
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ecuador judge OKs bribery charges against ex-president over Chinese dam contractAn Ecuadorian judge approved on Sunday prosecutors' request to charge former President Lenin Moreno with bribery over a contract for a Chinese-built hydroelectric plant in the South American nation.
Read more »
Chinese President Xi Jinping issues rare rebuke of US for 'suppression against us'Chinese leader Xi Jinping issued a rare public rebuke of the United States for embarking on a crusade to thwart China's rise.
Read more »
China Box Office: Hong Kong’s ‘Cyber Heist’ Takes Top Spot in Mainland Chinese Cinemas“Cyber Heist,” a crime thriller directed by Hong Kong’s Wong Hing-fan (“I’m Livin’ It”) and scripted by Soi Cheang (aka Cheang Pou Soi), took the top spot at the mainland Chinese box office over th…
Read more »
China Accuses the U.S. of Suppressing Chinese Tech CompaniesChina pushed back against the U.S. government's technology bans and accused the U.S. of 'ideological bias.'
Read more »
McCarthy to meet Taiwan president in California to avoid irking ChinaHouse Speaker Kevin McCarthy will meet with Taiwan President Tsai Ing-wen in California rather than Taipei to avoid provoking an aggressive response from China amid the tense relationship between B…
Read more »