CINXE.COM

<!doctype html> <html class="no-js" lang="en-US"> <head> <meta charset="UTF-8"> <meta http-equiv="x-ua-compatible" content="ie=edge"> <meta name="viewport" content="width=device-width, initial-scale=1"> <script>(function(html){html.className = html.className.replace(/\bno-js\b/,'js')})(document.documentElement);</script> <meta name='robots' content='index, follow, max-image-preview:large, max-snippet:-1, max-video-preview:-1' />  <title>Trump's Plan to Kill EV Tax Credits 'Could Benefit China'</title> <meta name="description" content="Donald Trump’s plan to kill electric vehicle tax credits worth $7,500 could end up benefiting China, US automakers and officials have warned" /> <link rel="canonical" href="https://www.asiafinancial.com/trumps-plan-to-kill-ev-tax-credits-could-benefit-china" /> <meta property="og:locale" content="en_US" /> <meta property="og:type" content="article" /> <meta property="og:title" content="Trump's Plan to Kill EV Tax Credits 'Could Benefit China'" /> <meta property="og:description" content="Donald Trump’s plan to kill electric vehicle tax credits worth $7,500 could end up benefiting China, US automakers and officials have warned" /> <meta property="og:url" content="https://www.asiafinancial.com/trumps-plan-to-kill-ev-tax-credits-could-benefit-china" /> <meta property="og:site_name" content="Asia Financial" /> <meta property="article:publisher" content="https://www.facebook.com/asiafinancialnewsgroup" /> <meta property="article:published_time" content="2024-11-18T13:02:14+00:00" /> <meta property="og:image" content="https://www.asiafinancial.com/wp-content/uploads/2024/11/Trump-and-Musk-Rs.jpg" /> <meta property="og:image:width" content="710" /> <meta property="og:image:height" content="474" /> <meta property="og:image:type" content="image/jpeg" /> <meta name="author" content="Vishakha Saxena" /> <meta name="twitter:card" content="summary_large_image" /> <meta name="twitter:creator" content="@Asia_Financial" /> <meta name="twitter:site" content="@Asia_Financial" /> <meta name="twitter:label1" content="Written by" /> <meta name="twitter:data1" content="Vishakha Saxena" /> <meta name="twitter:label2" content="Est. reading time" /> <meta name="twitter:data2" content="4 minutes" /> <script type="application/ld+json" class="yoast-schema-graph">{"@context":"https://schema.org","@graph":[{"@type":"Organization","@id":"https://www.asiafinancial.com/#organization","name":"Asia Financial","url":"https://www.asiafinancial.com/","sameAs":["https://www.instagram.com/asiafinancial/","https://www.facebook.com/asiafinancialnewsgroup","https://twitter.com/Asia_Financial"],"logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https://www.asiafinancial.com/#/schema/logo/image/","url":"https://www.asiafinancial.com/wp-content/uploads/2021/05/AF-News-General-large.png","contentUrl":"https://www.asiafinancial.com/wp-content/uploads/2021/05/AF-News-General-large.png","width":1024,"height":1024,"caption":"Asia Financial"},"image":{"@id":"https://www.asiafinancial.com/#/schema/logo/image/"}},{"@type":"WebSite","@id":"https://www.asiafinancial.com/#website","url":"https://www.asiafinancial.com/","name":"Asia Financial","description":"Latest Financial News Today, China Stock Market News LIVE","publisher":{"@id":"https://www.asiafinancial.com/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https://www.asiafinancial.com/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","inLanguage":"en-US","@id":"https://www.asiafinancial.com/trumps-plan-to-kill-ev-tax-credits-could-benefit-china#primaryimage","url":"https://www.asiafinancial.com/wp-content/uploads/2024/11/Trump-and-Musk-Rs.jpg","contentUrl":"https://www.asiafinancial.com/wp-content/uploads/2024/11/Trump-and-Musk-Rs.jpg","width":710,"height":474,"caption":"Trump listens as Tesla CEO Elon Musk speaks at a rally in July in Pennsylvania, October 5, 2024. Photo: Reuters."},{"@type":"WebPage","@id":"https://www.asiafinancial.com/trumps-plan-to-kill-ev-tax-credits-could-benefit-china","url":"https://www.asiafinancial.com/trumps-plan-to-kill-ev-tax-credits-could-benefit-china","name":"Trump's Plan to Kill EV Tax Credits 'Could Benefit China'","isPartOf":{"@id":"https://www.asiafinancial.com/#website"},"primaryImageOfPage":{"@id":"https://www.asiafinancial.com/trumps-plan-to-kill-ev-tax-credits-could-benefit-china#primaryimage"},"image":{"@id":"https://www.asiafinancial.com/trumps-plan-to-kill-ev-tax-credits-could-benefit-china#primaryimage"},"thumbnailUrl":"https://www.asiafinancial.com/wp-content/uploads/2024/11/Trump-and-Musk-Rs.jpg","datePublished":"2024-11-18T13:02:14+00:00","dateModified":"2024-11-18T13:02:14+00:00","description":"Donald Trump’s plan to kill electric vehicle tax credits worth $7,500 could end up benefiting China, US automakers and officials have warned","breadcrumb":{"@id":"https://www.asiafinancial.com/trumps-plan-to-kill-ev-tax-credits-could-benefit-china#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https://www.asiafinancial.com/trumps-plan-to-kill-ev-tax-credits-could-benefit-china"]}]},{"@type":"BreadcrumbList","@id":"https://www.asiafinancial.com/trumps-plan-to-kill-ev-tax-credits-could-benefit-china#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https://www.asiafinancial.com/"},{"@type":"ListItem","position":2,"name":"Trump’s Plan to Kill EV Tax Credits ‘Could Benefit China’"}]}]}</script>  <link rel='dns-prefetch' href='//www.asiafinancial.com' /> <link rel='dns-prefetch' href='//s.w.org' /> <script type="text/javascript"> window._wpemojiSettings = {"baseUrl":"https:\/\/s.w.org\/images\/core\/emoji\/13.1.0\/72x72\/","ext":".png","svgUrl":"https:\/\/s.w.org\/images\/core\/emoji\/13.1.0\/svg\/","svgExt":".svg","source":{"concatemoji":"https:\/\/www.asiafinancial.com\/wp-includes\/js\/wp-emoji-release.min.js?ver=5.8.10"}}; !function(e,a,t){var n,r,o,i=a.createElement("canvas"),p=i.getContext&&i.getContext("2d");function s(e,t){var a=String.fromCharCode;p.clearRect(0,0,i.width,i.height),p.fillText(a.apply(this,e),0,0);e=i.toDataURL();return p.clearRect(0,0,i.width,i.height),p.fillText(a.apply(this,t),0,0),e===i.toDataURL()}function c(e){var t=a.createElement("script");t.src=e,t.defer=t.type="text/javascript",a.getElementsByTagName("head")[0].appendChild(t)}for(o=Array("flag","emoji"),t.supports={everything:!0,everythingExceptFlag:!0},r=0;r<o.length;r++)t.supports[o[r]]=function(e){if(!p||!p.fillText)return!1;switch(p.textBaseline="top",p.font="600 32px Arial",e){case"flag":return s([127987,65039,8205,9895,65039],[127987,65039,8203,9895,65039])?!1:!s([55356,56826,55356,56819],[55356,56826,8203,55356,56819])&&!s([55356,57332,56128,56423,56128,56418,56128,56421,56128,56430,56128,56423,56128,56447],[55356,57332,8203,56128,56423,8203,56128,56418,8203,56128,56421,8203,56128,56430,8203,56128,56423,8203,56128,56447]);case"emoji":return!s([10084,65039,8205,55357,56613],[10084,65039,8203,55357,56613])}return!1}(o[r]),t.supports.everything=t.supports.everything&&t.supports[o[r]],"flag"!==o[r]&&(t.supports.everythingExceptFlag=t.supports.everythingExceptFlag&&t.supports[o[r]]);t.supports.everythingExceptFlag=t.supports.everythingExceptFlag&&!t.supports.flag,t.DOMReady=!1,t.readyCallback=function(){t.DOMReady=!0},t.supports.everything||(n=function(){t.readyCallback()},a.addEventListener?(a.addEventListener("DOMContentLoaded",n,!1),e.addEventListener("load",n,!1)):(e.attachEvent("onload",n),a.attachEvent("onreadystatechange",function(){"complete"===a.readyState&&t.readyCallback()})),(n=t.source||{}).concatemoji?c(n.concatemoji):n.wpemoji&&n.twemoji&&(c(n.twemoji),c(n.wpemoji)))}(window,document,window._wpemojiSettings); </script> <style type="text/css"> img.wp-smiley, img.emoji { display: inline !important; border: none !important; box-shadow: none !important; height: 1em !important; width: 1em !important; margin: 0 .07em !important; vertical-align: -0.1em !important; background: none !important; padding: 0 !important; } </style> <link rel='stylesheet' id='wp-block-library-css' href='https://www.asiafinancial.com/wp-includes/css/dist/block-library/style.min.css?ver=5.8.10' type='text/css' media='all' /> <style id='co-authors-plus-coauthors-style-inline-css' type='text/css'> .wp-block-co-authors-plus-coauthors.is-layout-flow [class*=wp-block-co-authors-plus]{display:inline} </style> <style id='co-authors-plus-avatar-style-inline-css' type='text/css'> .wp-block-co-authors-plus-avatar :where(img){height:auto;max-width:100%;vertical-align:bottom}.wp-block-co-authors-plus-coauthors.is-layout-flow .wp-block-co-authors-plus-avatar :where(img){vertical-align:middle}.wp-block-co-authors-plus-avatar:is(.alignleft,.alignright){display:table}.wp-block-co-authors-plus-avatar.aligncenter{display:table;margin-inline:auto} </style> <style id='co-authors-plus-image-style-inline-css' type='text/css'> .wp-block-co-authors-plus-image{margin-bottom:0}.wp-block-co-authors-plus-image :where(img){height:auto;max-width:100%;vertical-align:bottom}.wp-block-co-authors-plus-coauthors.is-layout-flow .wp-block-co-authors-plus-image :where(img){vertical-align:middle}.wp-block-co-authors-plus-image:is(.alignfull,.alignwide) :where(img){width:100%}.wp-block-co-authors-plus-image:is(.alignleft,.alignright){display:table}.wp-block-co-authors-plus-image.aligncenter{display:table;margin-inline:auto} </style> <link rel='stylesheet' id='mpp_gutenberg-css' href='https://www.asiafinancial.com/wp-content/plugins/metronet-profile-picture/dist/blocks.style.build.css?ver=2.6.3' type='text/css' media='all' /> <script type='text/javascript' src='https://www.asiafinancial.com/wp-includes/js/jquery/jquery.min.js?ver=3.6.0' id='jquery-core-js'></script> <script type='text/javascript' src='https://www.asiafinancial.com/wp-includes/js/jquery/jquery-migrate.min.js?ver=3.3.2' id='jquery-migrate-js'></script> <link rel="https://api.w.org/" href="https://www.asiafinancial.com/wp-json/" /><link rel="alternate" type="application/json" href="https://www.asiafinancial.com/wp-json/wp/v2/posts/103432" /><link rel="EditURI" type="application/rsd+xml" title="RSD" href="https://www.asiafinancial.com/xmlrpc.php?rsd" /> <link rel="wlwmanifest" type="application/wlwmanifest+xml" href="https://www.asiafinancial.com/wp-includes/wlwmanifest.xml" /> <meta name="generator" content="WordPress 5.8.10" /> <link rel='shortlink' href='https://www.asiafinancial.com/?p=103432' /> <link rel="alternate" type="application/json+oembed" href="https://www.asiafinancial.com/wp-json/oembed/1.0/embed?url=https%3A%2F%2Fwww.asiafinancial.com%2Ftrumps-plan-to-kill-ev-tax-credits-could-benefit-china" /> <link rel="alternate" type="text/xml+oembed" href="https://www.asiafinancial.com/wp-json/oembed/1.0/embed?url=https%3A%2F%2Fwww.asiafinancial.com%2Ftrumps-plan-to-kill-ev-tax-credits-could-benefit-china&format=xml" /> <link rel="pingback" href="https://www.asiafinancial.com/xmlrpc.php">  <script type='text/javascript'> !function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n; n.push=n;n.loaded=!0;n.version='2.0';n.queue=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window, document,'script','https://connect.facebook.net/en_US/fbevents.js?v=next'); </script>  <script type='text/javascript'> var url = window.location.origin + '?ob=open-bridge'; fbq('set', 'openbridge', '918988045566644', url); </script> <script type='text/javascript'>fbq('init', '918988045566644', {}, { "agent": "wordpress-5.8.10-3.0.16" })</script><script type='text/javascript'> fbq('track', 'PageView', []); </script>  <noscript> <img height="1" width="1" style="display:none" alt="fbpx" src="https://www.facebook.com/tr?id=918988045566644&ev=PageView&noscript=1" /> </noscript>  <style type="text/css">.recentcomments a{display:inline !important;padding:0 !important;margin:0 !important;}</style> <style type="text/css" id="wp-custom-css"> .simple-text { margin: 10px 0 15px 0; } .author-content{ width: 100% !important; } .post-excerpt h4 { font-size: 16px; font-style: italic; color: grey; line-height: 23px; } .tt-post { border: 0px solid #489bd4 !important; -webkit-box-shadow: 0 0px 0 0 #eaeaea !important; -moz-box-shadow: 0 0px 0 0 #eaeaea !important; box-shadow: 0 0px 0 0 #eaeaea !important; } @media only screen and (min-width: 769px) { .relatedsingle{ height: 396px; } .h1, .h2, .h3, h1, h2, h3, .tt-title-text{ margin-top: 0px !important; margin-bottom: 0px !important; } } #fkgUBk { display: none; } </style> <meta name="twitter:card" content="summary_large_image" /> <meta name="twitter:description" content="The tax credit rules were aimed at lowering the US’ reliance on China's supply chains and could hurt America's hope of becoming a 'global leader' in electric vehicles, critics say" /> <meta name="twitter:title" content="Trump’s Plan to Kill EV Tax Credits ‘Could Benefit China’" /> <meta name="twitter:site" content="@ATFinancial_" /> <meta name="twitter:image" content="https://www.asiafinancial.com/wp-content/uploads/2024/11/Trump-and-Musk-Rs.jpg" /><script type="application/ld+json">{ "@context": "http:\/\/schema.org", "@type": "newsarticle", "inLanguage": "en", "url": "https:\/\/www.asiafinancial.com", "articleBody": " \r\n\r\nUS president-elect Donald Trump\u2019s plan to kill electric vehicle tax credits worth $7,500 could end up benefitting China, American automakers and officials have warned.\r\n\r\nTrump first indicated he might kill the EV subsidy while on his campaign trail in August, and Reuters <strong><a href="https:\/\/www.reuters.com\/business\/autos-transportation\/trumps-transition-team-aims-kill-biden-ev-tax-credit-2024-11-14\/" target="_blank" rel="noopener">reported<\/a><\/strong> last week that his transition team was aiming to repeal the credits, <strong><a href="https:\/\/www.asiafinancial.com\/elon-musk-said-to-back-trumps-plan-to-kill-bidens-ev-tax-credit" target="_blank" rel="noopener">with support from the future US president\u2019s key aide, Elon Musk<\/a><\/strong>.\r\n\r\nBut that plan is making American electric vehicle and battery manufacturers nervous.\r\n\r\n \r\n<h3>Also on AF: <a href="https:\/\/www.asiafinancial.com\/cop29-what-will-donald-trump-mean-for-global-carbon-markets" target="_blank" rel="noopener">COP29: What Will Donald Trump Mean For Global Carbon Markets?<\/a><\/h3>\r\n \r\n\r\nTax credits are critical for the United States to "actually compete to win against China,\u201d warned Albert Gore, executive director of the Zero Emission Transportation Association (ZETA).\r\n\r\n<strong><a href="https:\/\/www.zeta.org\/" target="_blank" rel="noopener">ZETA<\/a><\/strong> represents major electric vehicle and battery manufacturers, including Rivian, LG, Tesla, Uber, Lucid and Panasonic.\r\n\r\nMost of those firms, and their global counterparts, saw shares tank through the week on reports of Trump killing the tax credit. Rivian shares ended the week down nearly 6%, while LG was down more than 4%, Tesla was down more than 7%, and Lucid was down a massive 11% in the period.\r\n\r\nZETA\u2019s statement came just hours after a similar warning from outgoing US Energy Secretary Jennifer Granholm at <strong><a href="https:\/\/www.asiafinancial.com\/tag\/cop29" target="_blank" rel="noopener">climate summit COP29<\/a><\/strong>.\r\n\r\n"It would be so counterproductive,"\u00a0Granholm told reporters in Baku, Azerbaijan referring to Trump\u2019s plan to end the credits.\r\n\r\n"You eliminate these credits, and what do you do? You end up ceding the territory to other countries, particularly China,\u201d she said.\r\n\r\nThe tax credit rules were aimed at lowering the US\u2019 reliance on China's supply chains. Biden\u2019s Inflation Reduction Act (IRA), further underscored that goal by cutting off from those credits for vehicles that were either made in China or used components and raw materials generated in China.\r\n\r\nMike Murphy, a longtime Republican strategist who runs the EV Politics Project \u2013 an advocacy group seeking bipartisan EV support \u2013 said ending the subsidy was a "really bad for American automakers" trying to catch up to highly subsidised Chinese EV industry.\r\n\r\n"The Trump administration is proving they have absolutely no interest in helping the US auto industry survive the coming Chinese invasion," he told Reuters.\r\n\r\n \r\n<h2>Mixed signals<\/h2>\r\nTrump\u2019s stance on China has been mixed, going by his campaign speeches. On the one hand, he has promised a hardline approach on Beijing \u2014 promising to impose <strong><a href="https:\/\/www.asiafinancial.com\/trump-eyes-60-china-tariffs-sparks-new-trade-war-fears-wp" target="_blank" rel="noopener">tariffs as high as 60%<\/a><\/strong> on imports from the US\u2019 top economic rival.\r\n\r\nOn the other hand, he has vowed to end Biden\u2019s \u201cEV mandate\u201d, including by <strong><a href="https:\/\/www.asiafinancial.com\/potential-trump-win-worries-asian-ev-firms-but-chinas-happy" target="_blank" rel="noopener">inviting Chinese carmakers to build plants in the US<\/a><\/strong>.\r\n\r\nEnding tax credits is also part of that move.\r\n\r\nIn October, the Alliance for Automotive Innovation urged Congress to retain the EV tax credits, calling them "critical to cementing the US as a global leader" in future auto manufacturing.\r\n\r\nThat\u2019s partly because global EV-makers have, over the past two years, rushed to bump up their investments in the US, in an effort to qualify for tax credits.\r\n\r\nZETA warned in its statement that killing EV tax credits would undercut those investments and hurt American job growth.\r\n\r\nKilling the credits would also hurt the American EV industry at a time when demand for electric cars has slowed down due to high purchase costs.\r\n\r\nAccording to Bank of America, higher costs would mean that the US will not see widespread EV adoption <strong><a href="https:\/\/climateadaptationplatform.com\/high-costs-and-lack-of-charging-stations-stalling-ev-uptake\/#:~:text=BofA's%20analysis%20assumes%20that%20most,happen%20until%202028%20and%20beyond." target="_blank" rel="noopener">at least until 2028<\/a><\/strong>.\r\n\r\nThat would mean the US will also fall back on its climate goals \u2014 though it remans to be seen whether they will survive Trump, who believes climate change is a hoax, even with 2024 on track to being <strong><a href="https:\/\/www.asiafinancial.com\/scientists-say-2024-virtually-certain-to-be-hottest-on-record" target="_blank" rel="noopener">the hottest year on record for the world<\/a><\/strong>.\r\n\r\n \r\n<ul>\r\n \t<li>Vishakha Saxena, with Reuters<\/li>\r\n<\/ul>\r\n \r\n<h3>Also read:<\/h3>\r\n<h4><a href="https:\/\/www.asiafinancial.com\/trump-will-have-big-impacts-on-trade-climate-change-evs" target="_blank" rel="noopener">Trump Will Have Big Impacts on Trade, Climate Change, EVs<\/a><\/h4>\r\n<h4><a href="https:\/\/www.asiafinancial.com\/trump-says-hell-hit-china-with-big-tariffs-if-it-takes-taiwan" target="_blank" rel="noopener">Trump Says He\u2019ll Hit China With Big Tariffs if it Takes Taiwan<\/a><\/h4>\r\n<h4><a href="https:\/\/www.asiafinancial.com\/in-u-turn-elon-musk-says-us-tariffs-on-chinese-evs-not-good" target="_blank" rel="noopener">In U-Turn, Elon Musk Says US Tariffs on Chinese EVs \u2018Not Good\u2019<\/a><\/h4>\r\n<h4><a href="https:\/\/www.asiafinancial.com\/conflicts-of-interest-shroud-musks-new-cost-cutter-role-ap" target="_blank" rel="noopener">Conflicts of Interest Shroud Musk\u2019s New \u2018Cost Cutter\u2019 Role \u2013 AP<\/a><\/h4>\r\n<h4><a href="https:\/\/www.asiafinancial.com\/china-more-vulnerable-to-trump-tariffs-after-slowdown" target="_blank" rel="noopener">China \u2018More Vulnerable to Trump Tariffs\u2019 After Slowdown<\/a><\/h4>\r\n<h4><a href="https:\/\/www.asiafinancial.com\/china-facing-more-trade-rivalry-as-trump-claims-poll-win" target="_blank" rel="noopener">China Facing More Trade Rivalry as Trump Claims Poll Win<\/a><\/h4>\r\n<h4><a href="https:\/\/www.asiafinancial.com\/concerns-over-trump-cutting-bilateral-meetings-with-china" target="_blank" rel="noopener">Concerns Over Trump Cutting Bilateral Meetings With China<\/a><\/h4>\r\n<h4 class="reports-big-head"><a href="https:\/\/www.asiafinancial.com\/china-battery-firms-pump-4-4bn-into-korea-for-us-ev-credits" target="_blank" rel="noopener">China Battery Firms Pump $4.4bn Into Korea for US EV Credits<\/a><\/h4>\r\n<h4 class="reports-big-head"><a href="https:\/\/www.asiafinancial.com\/donald-trump-likely-to-try-to-block-us-tiktok-ban-wapo" target="_blank" rel="noopener">Donald Trump Likely to Try to Block US TikTok Ban \u2013 WaPo<\/a><\/h4>\r\n<h4><\/h4>", "articleSection": "Asia", "mainEntityOfPage": { "@type": "WebPage", "url": "https:\/\/www.asiafinancial.com\/trumps-plan-to-kill-ev-tax-credits-could-benefit-china" }, "headline": "Trump’s Plan to Kill EV Tax Credits ‘Could Benefit China’", "description": "The tax credit rules were aimed at lowering the US\u2019 reliance on China's supply chains and could hurt America's hope of becoming a 'global leader' in electric vehicles, critics say", "datePublished": "2024-11-18T13:02:14+00:00", "dateModified": "2024-11-18T13:02:14+00:00", "publisher": { "@type": "Organization", "name": "Asia Financial", "logo": { "@type": "ImageObject", "url": "https:\/\/www.asiafinancial.com\/wp-content\/themes\/atf\/images\/AF-logo-small.png", "width": "640", "height": "97" } }, "author": { "@type": "Person", "name": "Asia Financial" }, "image": { "@type": "ImageObject", "url": "https:\/\/www.asiafinancial.com\/wp-content\/uploads\/2024\/11\/Trump-and-Musk-Rs.jpg" } }</script> <script async src="https://www.googletagmanager.com/gtag/js?id=G-CNH68EHNDT"></script> <script> window.dataLayer = window.dataLayer || []; function gtag(){dataLayer.push(arguments);} gtag('js', new Date()); gtag('config', 'G-CNH68EHNDT'); </script> <style> .tt-header .main-nav>ul>li>a { padding: 12px 20px !important; } .tt-header-margins { padding-top: 192px; } .top-right{ margin-top: 4px; } @media only screen and (max-width: 991px) { .tt-header-margins { padding-top: 101px !important; } } @media only screen and (max-width: 550px) { .subscribe-btn, .tt-s-popup-btn { display:none !important; } } .submitdelete{ display:none; } @media (max-width: 767px){ .asia-financial-bg{padding: 15px 5px;} .tt-footer .ft-box.col-md-4.col-sm-6.col-1 {width: 33%;float: left;} .author-content{ width: 100% !important; } } .story-div .content ul li, .story-div .content ol li { font-family: 'Roboto', sans-serif; color: #666; font-size: 18px; line-height: 1.7; margin-bottom: 10px; } .wp-caption-text{ line-height: 17px !important; font-size: 12px !important; font-weight: 500 !important; margin-top: 10px !important; color: #aaaaaa !important; } </style> <link rel="stylesheet" href="https://fonts.googleapis.com/css?family=Roboto%3A400%2C500%2C700%7CMerriweather%3A700%7CRoboto%3A400&subset=latin%2Clatin-ext,latin&display=swap" /> <link rel="stylesheet" href="https://www.asiafinancial.com/wp-content/themes/atf/css/atf-min-style.css?v=1.2" /> <link rel='dns-prefetch' href='//fonts.googleapis.com' /> <link rel="preconnect" href="https://fonts.gstatic.com"> <link href="https://fonts.googleapis.com/css2?family=Barlow:ital,wght@0,100;0,200;0,300;0,400;0,500;0,600;0,700;1,100&display=swap" rel="stylesheet"> <style type="text/css"> img.wp-smiley, img.emoji { display: inline!important; border: none!important; box-shadow: none!important; height: 1em!important; width: 1em!important; margin: 0 .07em!important; vertical-align: -0.1em!important; background: none!important; padding: 0!important } </style> <style id='woocommerce-inline-inline-css' type='text/css'> .woocommerce form .form-row .required { visibility: visible } </style> <link rel='stylesheet' id='magplus-material-icon-css' href='https://fonts.googleapis.com/icon?family=Material+Icons&ver=5.3' type='text/css' media='all' /> <style id='magplus-main-style-inline-css' type='text/css'> .tt-header .main-nav>ul>li:not(.mega)>ul>li>a:hover, .tt-header .main-nav>ul>li:not(.mega)>ul>li>ul>li>a:hover, .mega.type-2 ul.tt-mega-wrapper li>ul a:hover, .tt-mega-list a:hover, .tt-s-popup-devider:after, .tt-s-popup-close:hover:before, .tt-s-popup-close:hover:after, .tt-tab-wrapper.type-1 .tt-nav-tab-item:before, .tt-pagination a:hover, .tt-pagination li.active a, .tt-thumb-popup-close:hover, .tt-video-popup-close:hover, .c-btn.type-1.color-2:before, .c-btn.type-1.style-2.color-2, .page-numbers a:hover, .page-numbers li span.current, .tpl-progress .progress-bar, .c-pagination.color-2 .swiper-active-switch, .tt-comment-form .form-submit, .woo-pagination span.current, .woo-pagination a:hover { background: #00447c } .tt-header .main-nav>ul>li.active>a, .tt-header .main-nav>ul>li:hover>a, .tt-s-popup-btn:hover, .tt-header.color-2 .top-menu a:hover, .tt-header.color-2 .top-social a:hover, .tt-s-popup-submit:hover .fa, .tt-mslide-label a:hover, .tt-sponsor-title:hover, .tt-sponsor.type-2 .tt-sponsor-title:hover, .tt-post-title:hover, .tt-post-label span a:hover, .tt-post-bottom a:hover, .tt-post-bottom a:hover .fa, .tt-post.light .tt-post-title:hover, .tt-blog-user-content a:hover, .tt-blog-user.light .tt-blog-user-content a:hover, .simple-img-desc a:hover, .tt-author-title:hover, .tt-author-social a:hover, .tt-blog-nav-title:hover, .tt-comment-label a:hover, .tt-comment-reply:hover, .tt-comment-reply:hover .fa, .comment-reply-link:hover, .comment-reply-link:hover .fa, .comment-edit-link:hover, .tt-search-submit:hover, .tt-news-title:hover, .tt-mblock-title:hover, .tt-mblock-label a:hover, .simple-text a, .c-btn.type-1.style-2.color-2:hover, .c-btn.type-2:hover, .c-btn.type-3.color-2:hover, .c-btn.type-3.color-3, .sidebar-item.widget_recent_posts_entries .tt-post.dark .tt-post-title:hover, .tt-post-cat a:hover, .sidebar-item.widget ul li a:hover, .tt-small-blog-slider .tt-h4-title a:hover, .tt-comment-form .form-submit:hover { color: #fb3624 } .c-pagination.color-2 .swiper-pagination-switch, .c-pagination.color-2 .swiper-active-switch, .tt-search input[type="text"]:focus, #loader, .c-btn.type-1.color-2, .c-input:focus, .c-btn.type-3.color-2:hover, .c-area:focus, .tt-title-text, .c-pagination.color-2 .swiper-pagination-switch, .tt-comment-form .form-submit, .custom-arrow-left.tt-swiper-arrow-3:hover, .custom-arrow-right.tt-swiper-arrow-3:hover { border-color: #00447c } .woocommerce .onsale, .woocommerce-page .onsale, .ajax_add_to_cart.c-btn.type-2, .product_type_variable.add_to_cart_button.c-btn.type-2, .tt-custom-pagination .current, .price_slider_amount button[type="submit"], .widget_price_filter .ui-slider .ui-slider-handle, .widget_shopping_cart .buttons .checkout, .woocommerce-form-login input[type="submit"], .woocommerce .shop_table .button[name="apply_coupon"], .woocommerce-page .shop_table .button[name="apply_coupon"], .single_add_to_cart_button, .woocommerce .shop_table .button[name="update_cart"], .woocommerce-page .shop_table .button[name="update_cart"], .woocommerce #payment .button, .woocommerce-page #payment .button, .woocommerce-page .wc-proceed-to-checkout .button { background: #fb3624!important } .ajax_add_to_cart.c-btn.type-2:hover, .product_type_variable.add_to_cart_button.c-btn.type-2:hover, .widget_shopping_cart .buttons .checkout:hover, .price_slider_amount button[type="submit"]:hover, .woocommerce .wc-proceed-to-checkout .button:hover, .woocommerce .shop_table .button:hover, .woocommerce .single_add_to_cart_button.button:hover, .woocommerce-page .wc-proceed-to-checkout .button:hover, .woocommerce-page .shop_table .button:hover, .woocommerce-page .single_add_to_cart_button.button:hover, .woocommerce .shop_table .button[name="update_cart"]:hover, .woocommerce-page .shop_table .button[name="update_cart"]:hover, .woocommerce #payment .button:hover, .woocommerce-page #payment .button:hover { background: rgba(251, 54, 36, .8)!important } .tt-header-type-5 .logo, .tt-header .logo { max-width: 370px; height: 45px; line-height: 45px } body.archive .tt-post-views { display: none!important } @media (max-width:767px) { .tt-iframe.smallVid { display: block!important } } .custom-color-properties-1000:after { background: #eaeaea!important } .custom-color-properties-1000 .tt-title-text { border-color: #00447b!important; color: #111111!important } .custom-color-properties-1001 .tt-title-text { border-color: #00447b!important; color: #111111!important } .custom-color-properties-1002 .tt-title-text { border-color: #ff5353!important; color: #111111!important } .custom-color-properties-1003 .tt-title-text { border-color: #ff53a0!important; color: #111111!important } .custom-color-properties-1004 .tt-title-text { border-color: #8ac53e!important; color: #111111!important } .custom-color-properties-1005 .tt-title-text { border-color: #8ac53e!important; color: #111111!important } @font-face { font-family: ; src: ; font-weight: 400; font-style: normal } .tt-post { border: 1px solid #489bd4; } .style2.tt-title-block:after, .sidebar-heading-style2 .tt-title-block:after { background: #479cd4; } .custom-color-properties-1000:after { background: #489bd4!important; } .tt-post-list li { border-bottom: 1px solid #489bd4; } .top-list{ list-style-type: none;padding: 9px 0 0 0;text-align: left; } .top-list li{ display: inline-block; color: #fff; font-size: 14px;margin-right: 7px !important; font-weight: 500;text-transform: uppercase; } .top-right li{ display: inline-block; color: #fff; font-size: 14px;margin-right: 2px; font-weight: 500;text-transform: uppercase;} .top-list li span{border: 1px solid #8ac53e;padding: 3px 7px;border-radius: 3px;display: inline-block;margin-left: 7px;} .top-list li a{ color: #489cd5; font-weight: 600;} .top-right{ list-style-type: none;padding: 13px 0 0 0;} .top-right li{ position: relative; } .top-right li a{ color: #fff; } .top-right li a:after{ content: ""; border-radius: 50%; width: 6px; height: 6px;display: inline-block;margin: 0 0 0 5px; } .top-right li:first-child a:after{background: #489cd5; } .top-right li:nth-child(2) a:after{background: #ff1d25; } .top-right li:last-child a:after{background: #8bc53f; } .aflisting li{ min-height: 200px; } .tt-s-popup-overlay { opacity: 0.5 !important; } .tt-s-search-btn { border:none !important; top: 30px !important; } .specialbx:after{ background:none !important; } .tt-post-author-name, .tt-post-date { font-size: 13px; } .top-right li:nth-child(2) a:after{ background: #489cd5 !important; } .top-right li:last-child a:after{ background: #489cd5 !important; } .top-list li img {height: 26px;margin-top: -7px;} .top-mobi-list{ display: none; } @media (max-width: 767px){ .top-list-mobi { list-style-type: none; padding: 9px 0 0; padding-left: 0px; text-align: left; } .top-mobi-list{margin: 0 -15px; display: block; position: fixed;top: 0; width: 100%; height:37px;} .tt-header.stick .top-inner, .tt-header .top-inner{ top: 36px;} .top-list li img{ margin-top: -5px; } .top-list{padding: 7px 0;} .mobi-top-story{padding-top: 123px;} #top-list-mobi li{ font-weight: 400 !important; font-size: 10px !important; } #top-list-mobi li img { height: 20px !important; } } .top-list li {font-size: 13px !important; font-weight: 400 !important; text-transform: none !important; } </style> <link rel="stylesheet" href="https://www.asiafinancial.com/wp-content/themes/atf/css/atf-style.css" /> <link rel="stylesheet" type="text/css" href="https://www.asiafinancial.com/wp-content/themes/atf/css/atf.css?v=1.15"> <noscript> <style> .woocommerce-product-gallery { opacity: 1!important } </style> </noscript> <link rel="icon" type="image/png" href="https://www.asiafinancial.com/wp-content/uploads/2022/02/af_32x32.png" /> <style type="text/css" title="dynamic-css" class="options-output"> .tt-header .top-line, .tt-header.color-2 .top-line { background: #1f2330 } .tt-header .top-menu a, .tt-header .top-social a, .tt-header.color-2 .top-menu a, .tt-header.color-2 .top-social a { color: #e5e5e5 } .tt-header .top-menu a:hover, .tt-header .top-social a:hover, .tt-header.color-2 .top-menu a:hover, .tt-header.color-2 .top-social a:hover { color: #9e9e9e } .tt-header-type-7 .toggle-block, .tt-header-type-4 .toggle-block, .tt-header-type-3 .toggle-block, .tt-header .toggle-block, .tt-header-type-5 .top-inner { background: #489bd4 } .tt-header .main-nav>ul>li>a, .tt-header-type-4 .tt-s-popup-btn, .tt-s-popup-btn, .tt-header .cmn-mobile-switch span, .tt-header .cmn-mobile-switch::before, .tt-header .cmn-mobile-switch::after { color: #fff } .tt-header .main-nav>ul>li.active>a, .tt-header .main-nav>ul>li:hover>a, .tt-s-popup-btn:hover, .tt-header .cmn-mobile-switch:hover:before, .tt-header .cmn-mobile-switch:hover:after, .tt-header .cmn-mobile-switch:hover span { color: #111 } .tt-header-style-link .main-nav>ul>li>a:after, .tt-header-type-5 .main-nav>ul>li>a:after { background: #01bd5d } .sidebar-heading-style2 .tt-title-text, .sidebar-heading-style4 .tt-title-block, .sidebar-heading-style5 .tt-title-block, .sidebar-heading-style3 .tt-title-block { border-color: #00447b } #loading-text, .simple-text h1, .c-h1, .simple-text h2, .c-h2, .simple-text h3, .c-h3, .simple-text h4, .c-h4, .simple-text h5, .c-h5, .simple-text h6, .c-h6, .simple-text.font-poppins, .c-btn.type-1, .c-btn.type-2, .c-btn.type-3, .c-input, .tt-mobile-nav>ul>li>a, .tt-mobile-nav>ul>li>ul>li>a, .tt-header .main-nav>ul>li:not(.mega)>ul>li>a, .tt-mega-list a, .tt-s-popup-title, .tt-title-text, .tt-title-block-2, .comment-reply-title, .tt-tab-wrapper.type-1 .tt-nav-tab-item, .tt-f-list a, .tt-footer-copy, .tt-pagination a, .tt-blog-user-content, .tt-author-title, .tt-blog-nav-label, .tt-blog-nav-title, .tt-comment-label, .tt-search input[type="text"], .tt-share-title, .tt-mblock-label, .page-numbers a, .page-numbers span, .footer_widget.widget_nav_menu li a, .tt-h1-title, .tt-h4-title, .tt-h2-title, .shortcode-4 .tt-title-slider a, .footer_widget .tt-title-block.type-2 .tt-title-text, .footer_widget .tt-newsletter-title.c-h4 small { font-family: 'Barlow', sans-serif font-weight: 700; font-style: normal } body, .tt-title-ul, .simple-text.title-droid h1, .simple-text.title-droid h2, .simple-text.title-droid h3, .simple-text.title-droid h4, .simple-text.title-droid h5, .simple-text.title-droid h6, .tt-tab-wrapper.tt-blog-tab .tt-nav-tab .tt-nav-tab-item, .tt-header .main-nav, .tt-header .top-menu a, .tt-post-bottom, .tt-post-label, .tt-s-popup-field input[type="text"], .tt-slide-2-title span, input, textarea, .tt-post-cat, .tt-slider-custom-marg .c-btn.type-3, .tt-mslide-label, select, .tt-post-breaking-news .tt-breaking-title, .sidebar-item.widget_recent_posts_entries .tt-post.dark .tt-post-cat, .shortcode-4 .simple-text, .woocommerce-result-count { font-family: Roboto; font-weight: 400; font-style: normal } .asia8-compo .col-md-9 { position: relative !important; z-index: 9 !important; } .tt-header-style-link .main-nav>ul>li>a:after, .tt-header-type-5 .main-nav>ul>li>a:after{ background: #00447b;} .tt-post.type-7 .tt-post-img .wp-post-image{height: 58px;} .tt-post.type-3 .tt-post-img .wp-post-image{height: 205px;} @media (max-width: 767px){ .tt-post.type-3 .tt-post-img .wp-post-image,.tt-post.type-7 .tt-post-img .wp-post-image {height: auto;} } .tt-footer { background: #00447B !important; } .tt-footer-copy{ background: #1F2330 !important; } /* @media only screen and (max-width: 550px){ .tt-s-search-btn{ left: 31px; top: 17px!important; } .tt-s-search-btn .fa.search-open{ display: block!important; } .tt-s-search-btn .search-open.active+.tt-s-search-form{ width: 100%; top: 23px; max-width: 320px; min-width: 320px; left: -40px; } .tt-s-search-btn .tt-s-popup-close{z-index: 999999999; right: 5px; top: -4px;} } */ .tt-s-popup-close:after, .tt-s-popup-close:before{top: 16px; width: 22px; height: 3px;} .tt-s-popup-field{ position: relative; z-index: 999999; background: #489bd4; color: #fff; height: 30px; line-height: 30px; } </style> <noscript> <style> .wpb_animate_when_almost_visible { opacity: 1 } </style> </noscript>   <script> !function(f,b,e,v,n,t,s) {if(f.fbq)return;n=f.fbq=function(){n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments)}; if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0'; n.queue=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t,s)}(window, document,'script', 'https://connect.facebook.net/en_US/fbevents.js'); fbq('init', '918988045566644'); fbq('track', 'PageView'); </script> <noscript><img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=918988045566644&ev=PageView&noscript=1" /></noscript>   <script> !function(f,b,e,v,n,t,s) {if(f.fbq)return;n=f.fbq=function(){n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments)}; if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0'; n.queue=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t,s)}(window,document,'script', 'https://connect.facebook.net/en_US/fbevents.js'); fbq('init', '189940718103664');fbq('track', 'PageView'); </script> <noscript> <img height="1" width="1" src="https://www.facebook.com/tr?id=189940718103664&ev=PageView&noscript=1"/> </noscript>  <meta property="fb:pages" content="100250128285411" /> <meta name="facebook-domain-verification" content="hrf98cuzbeqqphtjig2d7z55ua38ck" />  <script data-cfasync="false" id="clevernt" type="text/javascript"> (function (document, window) { var c = document.createElement("script"); c.type = "text/javascript"; c.async = !0; c.id = "CleverNTLoader44150"; c.setAttribute("data-target",window.name); c.setAttribute("data-callback","put-your-callback-macro-here"); c.src = "//clevernt.com/scripts/b53b1abc077187e69c6dce26bb2169ee.min.js?20210208=" + Math.floor((new Date).getTime()); var a = !1; try { a = parent.document.getElementsByTagName("script")[0] || document.getElementsByTagName("script")[0]; } catch (e) { a = !1; } a || ( a = document.getElementsByTagName("head")[0] || document.getElementsByTagName("body")[0]); a.parentNode.insertBefore(c, a); })(document, window); </script>  <script async src="https://www.googletagmanager.com/gtag/js?id=G-JSYJWDZQDZ"></script> <script> window.dataLayer = window.dataLayer || []; function gtag(){dataLayer.push(arguments);} gtag('js', new Date()); gtag('config', 'G-JSYJWDZQDZ'); </script>  <script src="https://www.googletagmanager.com/gtag/js?id=UA-3625887-4" async defer></script> <script> window.dataLayer = window.dataLayer || []; function gtag(){dataLayer.push(arguments);} gtag('js', new Date()); gtag('config', 'UA-3625887-4'); </script>  <script> (function(h,o,t,j,a,r){ h.hj=h.hj||function(){(h.hj.q=h.hj.q||[]).push(arguments)}; h._hjSettings={hjid:2080194,hjsv:6}; a=o.getElementsByTagName('head')[0]; r=o.createElement('script');r.async=1; r.src=t+h._hjSettings.hjid+j+h._hjSettings.hjsv; a.appendChild(r); })(window,document,'https://static.hotjar.com/c/hotjar-','.js?sv='); </script> <meta name="google-site-verification" content="mIh1fYJM6F7H81R-3DyC0RT-dkfkyLXdaXZLgTbxAQo" /> <meta name="ahrefs-site-verification" content="2428459a227642e9978e938cddd10198f03a272e5faa56467aef49a2e0398488"> <meta name="pocket-site-verification" content="8aabf79294bc5d000642a48b873e1f" /> <meta name="msvalidate.01" content="6A4287D236ECB84766F5E64D78DA56BB" /> <script async type="text/javascript" src="https://static.klaviyo.com/onsite/js/klaviyo.js?company_id=JGevqp"></script>  <script async src="https://www.googletagmanager.com/gtag/js?id=G-04BHDZ0BHE"></script> <script> window.dataLayer = window.dataLayer || []; function gtag(){dataLayer.push(arguments);} gtag('js', new Date()); gtag('config', 'G-04BHDZ0BHE'); </script> <script data-ad-client="ca-pub-6117110569640947" async src="https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js"></script> </head> <script async='async' src='https://securepubads.g.doubleclick.net/tag/js/gpt.js' type='text/javascript'/></script> <script type='text/javascript'>window.googletag = window.googletag || { cmd: [] };</script> <script type='text/javascript'> let afinScript = document.createElement('script'); afinScript.src = 'https://adncdnend.azureedge.net/adtags/asiafin.adn.js'; document.getElementsByTagName('head')[0].append(afinScript); </script>  <body class="home page-template-default page page-id-405 wp-embed-responsive theme-magplus woocommerce-no-js full-page header-style13 tt-top-header-enable tt-header-sticky wpb-js-composer js-comp-ver-6.0.4 vc_responsive elementor-default">  <div id="wrapper">  <div class="tt-mobile-block"> <div class="tt-mobile-close"></div> <nav class="tt-mobile-nav"> <ul id="side-header-nav" class="side-menu"> <li id="menu-item-760" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-privacy-policy menu-item-760"><a href="/">Home</a></li> <li id="menu-item-779" class="menu-item menu-item-type-taxonomy menu-item-object-category menu-item-779"><a href="/af-indexes">AF Indexes</a></li> <li id="menu-item-780" class="menu-item menu-item-type-taxonomy menu-item-object-category menu-item-780"><a href="/markets">Markets</a></li> <li id="menu-item-781" class="menu-item menu-item-type-taxonomy menu-item-object-category menu-item-781"><a href="/carbon">Carbon</a></li> <li id="menu-item-781" class="menu-item menu-item-type-taxonomy menu-item-object-category menu-item-781"><a href="/fintech">Fintech</a></li> <li id="menu-item-782" class="menu-item menu-item-type-taxonomy menu-item-object-category menu-item-782"><a href="/energy">Energy</a></li> <li id="menu-item-783" class="menu-item menu-item-type-taxonomy menu-item-object-category menu-item-783"><a href="/transport">Transport</a></li> <li id="menu-item-783" class="menu-item menu-item-type-taxonomy menu-item-object-category menu-item-783"><a href="/health">Health</a></li> <li id="menu-item-783" class="menu-item menu-item-type-taxonomy menu-item-object-category menu-item-783"><a href="/regions">Regions</a></li> <li id="menu-item-783" class="menu-item menu-item-type-taxonomy menu-item-object-category menu-item-783"><a href="/insights/">Insights</a></li> <li id="menu-item-783" class="menu-item menu-item-type-taxonomy menu-item-object-category menu-item-783"><a href="/videos">AF TV</a></li> </ul> <div class="sidebar-logo"> <a href="/" class="logo tt-logo-1x"><img src="https://www.asiafinancial.com/wp-content/themes/atf/images/AF-logo-small.png" alt="AF Logo" width="350"></a> </div> </nav> </div> <div class="tt-mobile-overlay"></div> <div class="tt-s-popup"> <div class="tt-s-popup-overlay"></div> <div class="tt-s-popup-content"> <div class="tt-s-popup-layer"></div> <div class="tt-s-popup-container"> <form action="#" method="get" class="tt-s-popup-form"> <div class="tt-s-popup-field"> <input type="text" id="s" name="s" value="" placeholder="Type to search" class="input" required> <div class="tt-s-popup-devider"></div> <h3 class="tt-s-popup-title">Type to search</h3></div> <a href="#" class="tt-s-popup-close"></a> </form> </div> </div> </div> <div class="tt-video-popup"> <div class="tt-video-popup-overlay"></div> <div class="tt-video-popup-content"> <div class="tt-video-popup-layer"></div> <div class="tt-video-popup-container"> <div class="tt-video-popup-align"> <div class="embed-responsive embed-responsive-16by9"> <iframe class="embed-responsive-item" src="about:blank"></iframe> </div> </div> <div class="tt-video-popup-close"></div> </div> </div> </div> <div class="tt-thumb-popup"> <div class="tt-thumb-popup-overlay"></div> <div class="tt-thumb-popup-content"> <div class="tt-thumb-popup-layer"></div> <div class="tt-thumb-popup-container"> <div class="tt-thumb-popup-align"> </div> <div class="tt-thumb-popup-close"></div> </div> </div> </div> <div id="content-wrapper"> <header class="tt-header header-style13 tt-header-style-link full-page"> <div class="tt-header-wrapper"> <div class="top-line clearfix top-mobi-list"> <div class="container"> <div class="aftopbx"> <div class="row"> <div class="col-md-12" id="top-list-mobi"> <ul class="top-list"> </ul> </div> </div> </div> </div> </div> <div class="top-inner clearfix"> <div class="container"> <a href="/" class="logo tt-logo-1x"><img src="https://www.asiafinancial.com/wp-content/themes/atf/images/AF-logo-small.png" alt="ATF Logo" width="350"></a> <a href="/" class="logo tt-logo-2x"><img src="https://www.asiafinancial.com/wp-content/themes/atf/images/AF-logo-small.png" alt="ATF" width="263" height="45" style="max-height:30px; height:auto;"></a> <div class="cmn-toggle-switch"><span></span></div> <div class="cmn-mobile-switch"><span></span></div> <div class="tt-s-search-btn"> <div class="search-click"> <i style="display:none;" class="fa fa-search search-open" aria-hidden="true"></i> <form action="#" method="get" class="tt-s-popup-form tt-s-search-form"> <a href="#" class="tt-s-popup-close close"></a> <div class="tt-s-popup-field"> <input type="text" id="s" name="s" value="" placeholder="search" class="input" required> </div> </form> </div> </div>  <a class="subscribe-btn" style="color:white;" href="/newsletter">Newsletter</a> </div> </div> <div class="toggle-block"> <div class="toggle-block-container"> <nav class="main-nav clearfix"> <ul id="nav" class="menu"> <li><a href="/">Home</a></li> <li><a href="/af-indexes">AF Indexes</a> <ul class="sub-menu"> <li><a href="/af-indexes/global-fintech-leaders-index">Global Fintech Leaders Index</a></li> <li><a href="/af-indexes/af-china-bond-50-index">AF China Bond 50 Index</a></li> <li><a href="/af-indexes/global-green-energy-transport-and-technology-leaders-index">GGETT Leaders Index</a></li> <li><a href="/af-indexes/china-electric-vehicle-index">China Electric Vehicle Index</a></li> </ul> </li> <li><a href="/markets">Markets</a> <ul class="sub-menu"> <li><a href="/markets/bonds">Bonds News</a></li> <li><a href="/markets/capital-markets">Capital Markets News </a></li> <li><a href="/markets/commodities">Commodities News</a></li> <li><a href="/markets/esg">ESG News</a></li> <li><a href="/markets/etfs">ETFs News</a></li> </ul> </li> <li><a href="/carbon">Carbon</a></li> <li><a href="/fintech">Fintech</a><ul class="sub-menu"> <li><a href="/fintech/ai">AI News</a></li> <li><a href="/fintech/blockchain">Blockchain News</a></li> <li><a href="/fintech/crypto">Crypto News</a></li> <li><a href="/fintech/cyber-security">Cyber Security News</a></li> <li><a href="/fintech/payments">Payments News</a></li> </ul> </li> <li><a href="/energy">Energy</a><ul class="sub-menu"> <li><a href="/energy/mining">Mining News</a></li> <li><a href="/energy/new-energy">New Energy News</a></li> <li><a href="/energy/oil-gas">Oil & Gas News</a></li> <li><a href="/energy/rare-earths">Rare Earths News</a></li> </ul></li> <li><a href="/transport">Transport</a><ul class="sub-menu"> <li><a href="/transport/aviation">Aviation News</a></li> <li><a href="/transport/electric-vehicles">Electric Vehicles News</a></li> <li><a href="/transport/new-energy-vehicles">New Energy Vehicles News</a></li> <li><a href="/transport/space">Space News</a></li> </ul></li> <li><a href="/health">Health</a></li> <li><a href="/regions">Regions</a><ul class="sub-menu"> <li><a href="/regions/world">World News</a></li> <li><a href="/regions/asia">Asia News</a></li> <li><a href="/regions/china">China News</a></li> <li><a href="/regions/india">India News</a></li> <li><a href="/regions/central-asia">Central Asia News</a></li> <li><a href="/regions/north-asia">North Asia News</a></li> <li><a href="/regions/oceania">Oceania News</a></li> </ul></li> <li><a href="/insights">Insights</a><ul class="sub-menu"> <li><a href="/insights/market-insights">Market Insights</a></li> <li><a href="/insights/fintech-insights">Fintech Insights</a></li> <li><a href="/insights/opinion">Opinion</a></li> </ul></li> <li><a href="/videos">AF TV</a></li> </ul> </nav> <div class="nav-more">  </div> <div class="nav-more nav-more-left"> </div> <div class="top-line clearfix"> <div class="container"> <div class="aftopbx"> <div class="row"> <div class="col-md-8" id="top-list"> <ul class="top-list"> </ul> </div> <div class="col-md-4"> <ul class="top-right"> <li style="margin-right: 3px;"><a style="cursor: default;" href="javascript:void();">NEWS</a></li> <li style="margin-right: 3px;"><a style="cursor: default;" href="javascript:void();">ANALYSIS</a></li> <li style="margin-right: 3px;"><a style="cursor: default;" href="javascript:void();">INDEXES</a> </ul> </div> </div> </div> </div> </div> </div> </div> </div> </header> <div class="tt-header-heights tt-header-margins"></div> <style> @media (max-width: 767px){ .asia-financial-bg{padding: 15px 5px;} .tt-footer .ft-box.col-md-4.col-sm-6.col-1 {width: 33%;float: left;} } </style> <style type="text/css"> .tt-header .main-nav>ul>li:not(.mega)>ul.sub-menu{ border-color: #489bd4; top: 41px; padding-top: 0; margin-top: 0; padding-bottom: 0; } .tt-header .main-nav>ul>li:not(.mega)>ul>li{ border-bottom: 1px solid #489bd4; margin: 0 10px; } .tt-header .main-nav>ul>li:not(.mega)>ul>li:last-child{ border-bottom: none; } .tt-header .main-nav>ul>li:not(.mega)>ul>li a{ font-family: 'Barlow', sans-serif; font-weight: 700; color: #000; } </style> <script src="https://code.jquery.com/jquery-3.6.0.min.js" integrity="sha256-/xUj+3OJU5yExlq6GSYGSHk7tPXikynS7ogEvDej/m4=" crossorigin="anonymous"></script> <script src="https://www.asiafinancial.com/wp-content/themes/atf/js/scripts/global.js"></script> <script src="https://www.asiafinancial.com/wp-content/themes/atf/js/scripts/idangerous.swiper.min.js"></script> <script src="https://www.asiafinancial.com/wp-content/themes/atf/js/scripts/jquery.appear.min.js"></script> <script src="https://www.asiafinancial.com/wp-content/themes/atf/js/scripts/jquery.formstone.min.js"></script> <script src="https://www.asiafinancial.com/wp-content/themes/atf/js/scripts/jquery.isotope.min.js"></script> <script src="https://www.asiafinancial.com/wp-content/themes/atf/js/scripts/match.height.min.js"></script> <script src="https://www.asiafinancial.com/wp-content/themes/atf/js/scripts/parallax.min.js"></script> <script src="https://www.asiafinancial.com/wp-content/themes/atf/js/scripts/ytv.js"></script>  <script type="text/javascript"> jQuery(document).ready(function(){ if( jQuery("ul.tabs").length > 0 ) { jQuery('ul.tabs li').click(function(){ var tab_id = jQuery(this).attr('data-tab'); jQuery('ul.tabs li').removeClass('active-current'); jQuery('.tab-content').removeClass('active-current'); jQuery(this).addClass('active-current'); jQuery("#"+tab_id).addClass('active-current'); }) } }) </script> <script type="text/javascript"> jQuery('.search-open').click(function(){ jQuery(this).addClass('active'); //jQuery(this).parent().siblings().find('.search-open').removeClass('active'); }) jQuery('.close').click(function(){ jQuery(this).closest('.search-click').find('.search-open').removeClass('active'); }); </script> <style type="text/css"> @media only screen and (max-width: 550px){ .tt-s-search-btn .tt-s-popup-close{ opacity: 1; } .tt-s-search-btn{ left: 0; } .tt-header .cmn-mobile-switch:hover:before, .tt-header .cmn-mobile-switch:hover span, .tt-header .cmn-mobile-switch:hover:after{ background: #fff; } .tt-s-search-btn .fa.search-open{ margin-left: 30px; position: relative; top: -29px; } .tt-s-search-btn{ top: 48px!important; width: 100%; } .tt-s-search-btn .search-open.active+.tt-s-search-form{ left: -8%; width: 116%; top: -75px; } .tt-s-search-btn .tt-s-popup-close{ right: 14px; } .tt-s-search-btn .tt-s-popup-field input[type=text]{ padding-left: 14px; } } </style> <script> jQuery(document).ready(function() { jQuery('.fa-search').show(); }); </script>  <script async src="https://www.googletagmanager.com/gtag/js?id=AW-10878662245"></script> <script> window.dataLayer = window.dataLayer || []; function gtag(){dataLayer.push(arguments);} gtag('js', new Date()); gtag('config', 'AW-10878662245'); </script> <style> .tags a { margin-top: 5px; } .story-div .content p{ font-size: 18px; } .story-div .content h5 { line-height: 28px; font-size: 17px; font-weight: 700; margin: 10px 0 10px 0; } .story-div .content h4 { line-height: 28px; font-size: 18px; font-weight: 700; margin: 10px 0 10px 0; } .story-div .content h3 { line-height: 28px; font-size: 19px; font-weight: 700; margin: 10px 0 10px 0; } .story-div .content h2 { line-height: 28px; font-size: 20px; font-weight: 700; margin: 10px 0 10px 0; } .story-div .content h1 { line-height: 28px; font-size: 21px; font-weight: 700; margin: 10px 0 10px 0; } .imgauthor{ border-radius: 50%; } .custom-share{margin:0;padding-left:0;padding-bottom:5px;} .custom-share>li{box-sizing:border-box;display:inline-block;font-size:15px;line-height:14px;padding:0 5px 0 0;margin:0;transition:all .2s ease-in-out;list-style-type:none;} .custom-share>li>a{background:#ccc;border-radius:3px;box-sizing:border-box;display:block;font-family:'Roboto',sans-serif;padding:7px;position:relative;text-align:left;height:39px;text-decoration:none;text-transform:uppercase;width:100%;} .custom-share>li>a i{display:inline-block;line-height:20px;} .custom-share>li>a i img{max-width:100%;} .custom-share>li>a i.fb{ background-position:0 1px; height:26px; width:14px; } .custom-share>li>a i.twit{padding-top:2px;height:24px;width:26px;} .custom-share>li>a i.gplus{padding-top:4px;height:24px;width:26px;} .custom-share>li>a i.wapp{height:24px;width:26px;} .custom-share>li>a i.wapp img{margin-top:-1px;} .custom-share>li.facebook a{background:#3b5999;padding:6px 40px;} .custom-share>li.twit a{background:#55acef;} .custom-share>li.gplus a{background:#e93f2e;} .custom-share>li.whatsapp a{background:#29a71a;} .custom-share>li.whatsapp{display:none;} .custom-share>li:hover{-webkit-transform: translateY(-4px);transform: translateY(-4px);} @media (max-width: 767px){ .custom-share{display:table;width:100%;} .custom-share>li>a{text-align:center;vertical-align: top;} .custom-share>li{display:table-cell;float:none;vertical-align: top;min-width:inherit;width:25%;} .custom-share>li.whatsapp{display:table-cell;} .custom-share>li.facebook a{padding:6px 8px;} } .sharethisbx { display: inline; text-align: right; vertical-align: middle; } @media screen and (max-width: 767px){ .related-articles-sec .tt-post-inner{ overflow: hidden; border-bottom: 1px dotted rgba(0, 0, 0, 0.2); } .related-articles-sec .tt-post-inner .tt-post-img{ float: right; margin-left: 10px;} .related-articles-sec .simple-text a{font-size: 18px;color: #111;font-weight: 500;line-height: 26px;} .related-articles-sec .tt-post.type-3 .tt-post-info{padding: 0; } .related-articles-sec .tt-post-info .simple-text{ margin-top: 0;} .related-articles-sec .tt-post.type-3{ text-align: left; } } .new-category-design, .tt-post-label-new { margin-bottom: -8px; margin-top: 13px; } </style> <div id="page-wrapper" class="content top-bottom"> <div class="container"> <div class="row story-div"> <div class="marg-lg-b20"></div> <div class="col-md-8"> <div class="story-top"> <div class="reports-big-head"> <div class="tt-post-label tt-post-label-new"> <span class="tt-post-label-new tt-post-cat"> <a href="https://www.asiafinancial.com/transport/electric-vehicles">Electric Vehicles</a> </span></div> <h1 class="reports-big-head">Trump’s Plan to Kill EV Tax Credits ‘Could Benefit China’</h1> </div> <div class="tt-post type-3"> <div class="tt-post-label" style="font-size:14px;">  <span class="tt-post-date" style="margin-left:5px;">November 18, 2024</span></div> <div class="col post-excerpt" style="margin-top:10px;"> <h4> <p>The tax credit rules were aimed at lowering the US’ reliance on China’s supply chains and could hurt America’s hope of becoming a ‘global leader’ in electric vehicles, critics say</p> </h4> </div> <br> <div class="sharethisbx"> <ul class="custom-share"> <li class="facebook"> <a target="_blank" rel="nofollow" href="https://www.facebook.com/sharer/sharer.php?u=https://www.asiafinancial.com/trumps-plan-to-kill-ev-tax-credits-could-benefit-china"> <i class="fb"><img alt="facebook" src="https://www.asiafinancial.com/wp-content/themes/atf/images/facebook.svg"></i> </a> </li> <li class="twit"> <a rel="nofollow" target="_blank" href="https://twitter.com/share?text=Trump%26%238217%3Bs%20Plan%20to%20Kill%20EV%20Tax%20Credits%20%26%238216%3BCould%20Benefit%20China%26%238217%3B&url=https://www.asiafinancial.com/trumps-plan-to-kill-ev-tax-credits-could-benefit-china"> <i class="twit"><img src="https://www.asiafinancial.com/wp-content/themes/atf/images/twitter.svg?v=1" alt="twitter"></i> </a> </li> <li class="whatsapp"> <a rel="nofollow" href="whatsapp://send?text=https://www.asiafinancial.com/trumps-plan-to-kill-ev-tax-credits-could-benefit-china"> <i class="wapp"><img src="https://www.asiafinancial.com/wp-content/themes/atf/images/whatsapp.svg" alt="whatsapp"></i> </a> </li> </ul> </div> </div> </div> <div class="story-big-img"> <figure>  <img src="https://www.asiafinancial.com/wp-content/uploads/2024/11/Trump-and-Musk-Rs.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Trump listens as Tesla CEO Elon Musk speaks at a rally in July in Pennsylvania, October 5, 2024" loading="lazy" srcset="https://www.asiafinancial.com/wp-content/uploads/2024/11/Trump-and-Musk-Rs.jpg 710w, https://www.asiafinancial.com/wp-content/uploads/2024/11/Trump-and-Musk-Rs-300x200.jpg 300w" sizes="100vw" /> <figcaption style="line-height: 17px; font-size: 12px; font-weight: 500; margin-top: 10px; color: #aaaaaa;"> Trump listens as Tesla CEO Elon Musk speaks at a rally in July in Pennsylvania, October 5, 2024. Photo: Reuters. </figcaption> </figure> </div> <div class="content"> <p> </p> <p>US president-elect Donald Trump’s plan to kill electric vehicle tax credits worth $7,500 could end up benefitting China, American automakers and officials have warned.</p> <p>Trump first indicated he might kill the EV subsidy while on his campaign trail in August, and Reuters <strong><a href="https://www.reuters.com/business/autos-transportation/trumps-transition-team-aims-kill-biden-ev-tax-credit-2024-11-14/" target="_blank" rel="noopener">reported</a></strong> last week that his transition team was aiming to repeal the credits, <strong><a href="https://www.asiafinancial.com/elon-musk-said-to-back-trumps-plan-to-kill-bidens-ev-tax-credit" target="_blank" rel="noopener">with support from the future US president’s key aide, Elon Musk</a></strong>.</p> <p>But that plan is making American electric vehicle and battery manufacturers nervous.</p> <p> </p> <h3>Also on AF: <a href="https://www.asiafinancial.com/cop29-what-will-donald-trump-mean-for-global-carbon-markets" target="_blank" rel="noopener">COP29: What Will Donald Trump Mean For Global Carbon Markets?</a></h3> <p> </p> <p>Tax credits are critical for the United States to “actually compete to win against China,” warned Albert Gore, executive director of the Zero Emission Transportation Association (ZETA).</p> <p><strong><a href="https://www.zeta.org/" target="_blank" rel="noopener">ZETA</a></strong> represents major electric vehicle and battery manufacturers, including Rivian, LG, Tesla, Uber, Lucid and Panasonic.</p> <p>Most of those firms, and their global counterparts, saw shares tank through the week on reports of Trump killing the tax credit. Rivian shares ended the week down nearly 6%, while LG was down more than 4%, Tesla was down more than 7%, and Lucid was down a massive 11% in the period.</p> <p>ZETA’s statement came just hours after a similar warning from outgoing US Energy Secretary Jennifer Granholm at <strong><a href="https://www.asiafinancial.com/tag/cop29" target="_blank" rel="noopener">climate summit COP29</a></strong>.</p> <p>“It would be so counterproductive,” Granholm told reporters in Baku, Azerbaijan referring to Trump’s plan to end the credits.</p> <p>“You eliminate these credits, and what do you do? You end up ceding the territory to other countries, particularly China,” she said.</p> <p>The tax credit rules were aimed at lowering the US’ reliance on China’s supply chains. Biden’s Inflation Reduction Act (IRA), further underscored that goal by cutting off from those credits for vehicles that were either made in China or used components and raw materials generated in China.</p> <p>Mike Murphy, a longtime Republican strategist who runs the EV Politics Project – an advocacy group seeking bipartisan EV support – said ending the subsidy was a “really bad for American automakers” trying to catch up to highly subsidised Chinese EV industry.</p> <p>“The Trump administration is proving they have absolutely no interest in helping the US auto industry survive the coming Chinese invasion,” he told Reuters.</p> <p> </p> <h2>Mixed signals</h2> <p>Trump’s stance on China has been mixed, going by his campaign speeches. On the one hand, he has promised a hardline approach on Beijing — promising to impose <strong><a href="https://www.asiafinancial.com/trump-eyes-60-china-tariffs-sparks-new-trade-war-fears-wp" target="_blank" rel="noopener">tariffs as high as 60%</a></strong> on imports from the US’ top economic rival.</p> <p>On the other hand, he has vowed to end Biden’s “EV mandate”, including by <strong><a href="https://www.asiafinancial.com/potential-trump-win-worries-asian-ev-firms-but-chinas-happy" target="_blank" rel="noopener">inviting Chinese carmakers to build plants in the US</a></strong>.</p> <p>Ending tax credits is also part of that move.</p> <p>In October, the Alliance for Automotive Innovation urged Congress to retain the EV tax credits, calling them “critical to cementing the US as a global leader” in future auto manufacturing.</p> <p>That’s partly because global EV-makers have, over the past two years, rushed to bump up their investments in the US, in an effort to qualify for tax credits.</p> <p>ZETA warned in its statement that killing EV tax credits would undercut those investments and hurt American job growth.</p> <p>Killing the credits would also hurt the American EV industry at a time when demand for electric cars has slowed down due to high purchase costs.</p> <p>According to Bank of America, higher costs would mean that the US will not see widespread EV adoption <strong><a href="https://climateadaptationplatform.com/high-costs-and-lack-of-charging-stations-stalling-ev-uptake/#:~:text=BofA's%20analysis%20assumes%20that%20most,happen%20until%202028%20and%20beyond." target="_blank" rel="noopener">at least until 2028</a></strong>.</p> <p>That would mean the US will also fall back on its climate goals — though it remans to be seen whether they will survive Trump, who believes climate change is a hoax, even with 2024 on track to being <strong><a href="https://www.asiafinancial.com/scientists-say-2024-virtually-certain-to-be-hottest-on-record" target="_blank" rel="noopener">the hottest year on record for the world</a></strong>.</p> <p> </p> <ul> <li>Vishakha Saxena, with Reuters</li> </ul> <p> </p> <h3>Also read:</h3> <h4><a href="https://www.asiafinancial.com/trump-will-have-big-impacts-on-trade-climate-change-evs" target="_blank" rel="noopener">Trump Will Have Big Impacts on Trade, Climate Change, EVs</a></h4> <h4><a href="https://www.asiafinancial.com/trump-says-hell-hit-china-with-big-tariffs-if-it-takes-taiwan" target="_blank" rel="noopener">Trump Says He’ll Hit China With Big Tariffs if it Takes Taiwan</a></h4> <h4><a href="https://www.asiafinancial.com/in-u-turn-elon-musk-says-us-tariffs-on-chinese-evs-not-good" target="_blank" rel="noopener">In U-Turn, Elon Musk Says US Tariffs on Chinese EVs ‘Not Good’</a></h4> <h4><a href="https://www.asiafinancial.com/conflicts-of-interest-shroud-musks-new-cost-cutter-role-ap" target="_blank" rel="noopener">Conflicts of Interest Shroud Musk’s New ‘Cost Cutter’ Role – AP</a></h4> <h4><a href="https://www.asiafinancial.com/china-more-vulnerable-to-trump-tariffs-after-slowdown" target="_blank" rel="noopener">China ‘More Vulnerable to Trump Tariffs’ After Slowdown</a></h4> <h4><a href="https://www.asiafinancial.com/china-facing-more-trade-rivalry-as-trump-claims-poll-win" target="_blank" rel="noopener">China Facing More Trade Rivalry as Trump Claims Poll Win</a></h4> <h4><a href="https://www.asiafinancial.com/concerns-over-trump-cutting-bilateral-meetings-with-china" target="_blank" rel="noopener">Concerns Over Trump Cutting Bilateral Meetings With China</a></h4> <h4 class="reports-big-head"><a href="https://www.asiafinancial.com/china-battery-firms-pump-4-4bn-into-korea-for-us-ev-credits" target="_blank" rel="noopener">China Battery Firms Pump $4.4bn Into Korea for US EV Credits</a></h4> <h4 class="reports-big-head"><a href="https://www.asiafinancial.com/donald-trump-likely-to-try-to-block-us-tiktok-ban-wapo" target="_blank" rel="noopener">Donald Trump Likely to Try to Block US TikTok Ban – WaPo</a></h4> <h4></h4> <div class="tags"> Tags: <a href="https://www.asiafinancial.com/tag/china-ev" rel="tag">China EV</a><a href="https://www.asiafinancial.com/tag/china-tech" rel="tag">China Tech</a><a href="https://www.asiafinancial.com/tag/donald-trump" rel="tag">Donald Trump</a><a href="https://www.asiafinancial.com/tag/elon-musk" rel="tag">Elon Musk</a><a href="https://www.asiafinancial.com/tag/ev-companies" rel="tag">EV Companies</a><a href="https://www.asiafinancial.com/tag/ev-tariffs" rel="tag">EV Tariffs</a><a href="https://www.asiafinancial.com/tag/tesla" rel="tag">Tesla</a><a href="https://www.asiafinancial.com/tag/us-china" rel="tag">US-China</a> </div> <div class="author-box"> <div class="profile_images"><img width="96" height="96" src="https://www.asiafinancial.com/wp-content/uploads/2024/01/Untitled-design-4-96x96.jpg" class="avatar avatar-96 photo imgauthor" alt="" loading="lazy" srcset="https://www.asiafinancial.com/wp-content/uploads/2024/01/Untitled-design-4-96x96.jpg 96w, https://www.asiafinancial.com/wp-content/uploads/2024/01/Untitled-design-4-300x300.jpg 300w, https://www.asiafinancial.com/wp-content/uploads/2024/01/Untitled-design-4-150x150.jpg 150w, https://www.asiafinancial.com/wp-content/uploads/2024/01/Untitled-design-4-768x768.jpg 768w, https://www.asiafinancial.com/wp-content/uploads/2024/01/Untitled-design-4-24x24.jpg 24w, https://www.asiafinancial.com/wp-content/uploads/2024/01/Untitled-design-4-48x48.jpg 48w, https://www.asiafinancial.com/wp-content/uploads/2024/01/Untitled-design-4.jpg 1000w" sizes="100vw" /></div> <div class="author-content"> <h3><a href="https://www.asiafinancial.com/author/vishakha-saxenaasiafinancial-com">Vishakha Saxena </a></h3> <p style="font-size: 14px;"> Vishakha Saxena is the Multimedia and Social Media Editor at Asia Financial. She has worked as a digital journalist since 2013, and is an experienced writer and multimedia producer. As a trader and investor, she is keenly interested in new economy, emerging markets and the intersections of finance and society. You can write to her at <a href="/cdn-cgi/l/email-protection" class="__cf_email__" data-cfemail="b4c2ddc7dcd5dfdcd59ac7d5ccd1dad5f4d5c7ddd5d2dddad5dad7ddd5d89ad7dbd9">[email protected]</a> </p> </div> </div> <div class="category-col related-articles-sec"> <div class="tt-title-block custom-color-properties-1001 style2"> <h3 class="tt-title-text" style="border-bottom:none;">You Might also Like</h3> </div> <div class="marg-lg-b20"></div> <div class="row tt-post-two-col "> <div class="tt-post tt-post-two-col-item type-3 col-sm-3 col-md-3 post-430 post type-post status-publish format-standard has-post-thumbnail hentry category-business category-culture tag-all tag-health tag-politics relatedsingle"> <div class="tt-post-inner"> <a class="tt-post-img custom-hover" href="https://www.asiafinancial.com/chinas-huawei-smic-to-ramp-production-of-newest-ai-chip"> <img width="537" height="307" style="height:103px;" src="https://www.asiafinancial.com/wp-content/uploads/2023/09/3-300x200.jpg" class="img-responsive wp-post-image" alt="China’s Huawei, SMIC ‘to Ramp Production’ of Newest AI Chip"> </a> <div class="tt-post-info"> <div class="tt-post-label"> <div class="simple-text"> <a href="https://www.asiafinancial.com/chinas-huawei-smic-to-ramp-production-of-newest-ai-chip">China’s Huawei, SMIC ‘to Ramp Production’ of Newest AI Chip</a> </div>  </div> </div> </div> <div class="marg-lg-b30"></div> </div><div class="tt-post tt-post-two-col-item type-3 col-sm-3 col-md-3 post-430 post type-post status-publish format-standard has-post-thumbnail hentry category-business category-culture tag-all tag-health tag-politics relatedsingle"> <div class="tt-post-inner"> <a class="tt-post-img custom-hover" href="https://www.asiafinancial.com/eu-may-ask-china-for-clean-tech-knowhow-in-return-for-subsidies-ft"> <img width="537" height="307" style="height:103px;" src="https://www.asiafinancial.com/wp-content/uploads/2024/05/rei-copy-4-300x200.jpg" class="img-responsive wp-post-image" alt="EU May Ask China For Clean Tech Knowhow in Return For Subsidies - FT"> </a> <div class="tt-post-info"> <div class="tt-post-label"> <div class="simple-text"> <a href="https://www.asiafinancial.com/eu-may-ask-china-for-clean-tech-knowhow-in-return-for-subsidies-ft">EU May Ask China For Clean Tech Knowhow in Return For Subsidies - FT</a> </div>  </div> </div> </div> <div class="marg-lg-b30"></div> </div><div class="tt-post tt-post-two-col-item type-3 col-sm-3 col-md-3 post-430 post type-post status-publish format-standard has-post-thumbnail hentry category-business category-culture tag-all tag-health tag-politics relatedsingle"> <div class="tt-post-inner"> <a class="tt-post-img custom-hover" href="https://www.asiafinancial.com/economists-say-trump-wont-hit-china-with-60-tariffs-early-on"> <img width="537" height="307" style="height:103px;" src="https://www.asiafinancial.com/wp-content/uploads/2024/11/rei-copy-20-300x200.jpg" class="img-responsive wp-post-image" alt="Economists Say Trump Won't Hit China With 60% Tariffs Early On"> </a> <div class="tt-post-info"> <div class="tt-post-label"> <div class="simple-text"> <a href="https://www.asiafinancial.com/economists-say-trump-wont-hit-china-with-60-tariffs-early-on">Economists Say Trump Won't Hit China With 60% Tariffs Early On</a> </div>  </div> </div> </div> <div class="marg-lg-b30"></div> </div><div class="tt-post tt-post-two-col-item type-3 col-sm-3 col-md-3 post-430 post type-post status-publish format-standard has-post-thumbnail hentry category-business category-culture tag-all tag-health tag-politics relatedsingle"> <div class="tt-post-inner"> <a class="tt-post-img custom-hover" href="https://www.asiafinancial.com/china-export-tax-bombshell-to-raise-oil-solar-battery-prices"> <img width="537" height="307" style="height:103px;" src="https://www.asiafinancial.com/wp-content/uploads/2024/11/rei-copy-17-300x200.jpg" class="img-responsive wp-post-image" alt="China Export Tax Bombshell to Raise Oil, Solar, Battery Prices"> </a> <div class="tt-post-info"> <div class="tt-post-label"> <div class="simple-text"> <a href="https://www.asiafinancial.com/china-export-tax-bombshell-to-raise-oil-solar-battery-prices">China Export Tax Bombshell to Raise Oil, Solar, Battery Prices</a> </div>  </div> </div> </div> <div class="marg-lg-b30"></div> </div> </div> </div>  </div> </div> <div class="col-md-4"> <div><a href="https://www.asiafinancial.com/newsletter"><img src="https://www.asiafinancial.com/wp-content/uploads/2021/10/340x170-article-page.png" alt="logo"></a></div> <div class="marg-lg-b20"></div> <div class="asia-letest"> <h2 class="heading"><a href="#"><span>Electric Vehicles</span> </a> </h2> <div class="marg-lg-b20"></div> <div class="tt-post tt-post-two-col-item type-3 col-sm-12 col-md-12 post-434 post type-post status-publish format-standard has-post-thumbnail hentry category-business category-culture tag-all tag-health tag-politics"> <div class="tt-post-inner"> <a class="tt-post-img custom-hover" href="https://www.asiafinancial.com/cop29-what-will-donald-trump-mean-for-global-carbon-markets"> <img width="537" style="height:150px;" src="https://www.asiafinancial.com/wp-content/uploads/2024/11/AF-Oct-Featured-4-300x200.png" class="img-responsive wp-post-image" alt="COP29: What Will Donald Trump Mean For Global Carbon Markets?"> </a> <div class="tt-post-info"> <div class="tt-post-info"> <a style="font-size:15px;" class="tt-post-title c-h6" href="https://www.asiafinancial.com/cop29-what-will-donald-trump-mean-for-global-carbon-markets">COP29: What Will Donald Trump Mean For Global Carbon Markets?</a> <div class="tt-post-label"> <span class="tt-post-author-name"><a href="#">Vishakha Saxena</a></span> <span class="tt-post-date">15 Nov 2024</span></div> </div> </div> </div> <div class="marg-lg-b30"></div> </div> <div class="clear"></div> <div class="custom-sidebar sidebar-item widget widget_recent_posts_entries"> <ul class="tt-post-list dark"><li> <div class="tt-post type-7 dark clearfix post-586 post type-post status-publish format-standard has-post-thumbnail hentry category-news tag-all tag-health tag-politics"> <a class="tt-post-img custom-hover" href="https://www.asiafinancial.com/elon-musk-said-to-back-trumps-plan-to-kill-bidens-ev-tax-credit"> <img width="80" height="80" src="https://www.asiafinancial.com/wp-content/uploads/2024/11/Trump-and-Musk-Rs-300x200.jpg" class="img-responsive wp-post-image" alt="Elon Musk Said to Back Trump’s Plan to Kill Biden’s EV Tax Credit"> </a> <div class="tt-post-info"> <a class="tt-post-title c-h6" href="https://www.asiafinancial.com/elon-musk-said-to-back-trumps-plan-to-kill-bidens-ev-tax-credit">Elon Musk Said to Back Trump’s Plan to Kill Biden’s EV Tax Credit</a> <span class="tt-post-date">15 Nov 2024</span> </div> </div> </li><li> <div class="tt-post type-7 dark clearfix post-586 post type-post status-publish format-standard has-post-thumbnail hentry category-news tag-all tag-health tag-politics"> <a class="tt-post-img custom-hover" href="https://www.asiafinancial.com/conflicts-of-interest-shroud-musks-new-cost-cutter-role-ap"> <img width="80" height="80" src="https://www.asiafinancial.com/wp-content/uploads/2024/10/rei-2-300x200.jpg" class="img-responsive wp-post-image" alt="Conflicts of Interest Shroud Musk’s New ‘Cost Cutter’ Role – AP"> </a> <div class="tt-post-info"> <a class="tt-post-title c-h6" href="https://www.asiafinancial.com/conflicts-of-interest-shroud-musks-new-cost-cutter-role-ap">Conflicts of Interest Shroud Musk’s New ‘Cost Cutter’ Role – AP</a> <span class="tt-post-date">14 Nov 2024</span> </div> </div> </li><li> <div class="tt-post type-7 dark clearfix post-586 post type-post status-publish format-standard has-post-thumbnail hentry category-news tag-all tag-health tag-politics"> <a class="tt-post-img custom-hover" href="https://www.asiafinancial.com/fossil-fuels-set-to-drive-global-emissions-to-a-record-yet-again"> <img width="80" height="80" src="https://www.asiafinancial.com/wp-content/uploads/2024/11/AF-Oct-Featured-3-300x200.png" class="img-responsive wp-post-image" alt="Fossil Fuels Set to Drive Global Emissions to a Record, Yet Again"> </a> <div class="tt-post-info"> <a class="tt-post-title c-h6" href="https://www.asiafinancial.com/fossil-fuels-set-to-drive-global-emissions-to-a-record-yet-again">Fossil Fuels Set to Drive Global Emissions to a Record, Yet Again</a> <span class="tt-post-date">13 Nov 2024</span> </div> </div> </li></ul></div> </div>  <div id="subscribe"></div> <div class="clear"></div> <div class="tt-newsletter" style="margin:15px 0 15px 0;"> <div class="klaviyo-form-U4u3kX"></div> </div> <div class="clear"></div> <div class="sidebar-ad" style="margin:15px 0 15px 0;"> <div id='div-gpt-ad-sidebar_2'> <div data-onpage=true data-adpath="/339474670,22668885096/ATimesFin/sidebar_1"></div> </div> </div> <div class="tab-sec" style="margin:15px 0 15px 0;"> <ul class="tabs"> <li class="tab-link active-current" style="border-right:0px;" data-tab="tab-1">Popular News</li>  </ul> <div id="tab-1" class="tab-content active-current"> <div class="custom-sidebar sidebar-item widget widget_recent_posts_entries"> <ul class="tt-post-list dark"> <li> <div class="tt-post type-7 dark clearfix post-586 post type-post status-publish format-standard has-post-thumbnail hentry category-news tag-all tag-health tag-politics"> <a class="tt-post-img custom-hover" href="https://www.asiafinancial.com/china-russia-trade-booms-as-war-forces-moscow-to-look-east"> <img width="80" height="80" src="https://www.asiafinancial.com/wp-content/uploads/2022/04/Containers-are-seen-at-Yangshan-deepwater-port-in-Shanghai-Oct-19-2020.-RtrsAly-Song-e1657701034644.jpg" class="img-responsive wp-post-image" alt="China-Russia Trade Booms as War Forces Moscow to Look East"> </a> <div class="tt-post-info"> <a class="tt-post-title c-h6" href="https://www.asiafinancial.com/china-russia-trade-booms-as-war-forces-moscow-to-look-east">China-Russia Trade Booms as War Forces Moscow to Look East</a> <div class="tt-post-cat"> 10 Jun 2022 </div> </div> </div> </li><li> <div class="tt-post type-7 dark clearfix post-586 post type-post status-publish format-standard has-post-thumbnail hentry category-news tag-all tag-health tag-politics"> <a class="tt-post-img custom-hover" href="https://www.asiafinancial.com/iran-wants-new-currency-for-china-bloc-with-30-of-global-gdp"> <img width="80" height="80" src="https://www.asiafinancial.com/wp-content/uploads/2021/05/china_iran_foreign_ministers_wang_yi_left_and_m_mad_zarif_javad_after_signing__Ef9lSZ6.jpg" class="img-responsive wp-post-image" alt="Iran Wants New Currency for China Bloc With 30% of Global GDP"> </a> <div class="tt-post-info"> <a class="tt-post-title c-h6" href="https://www.asiafinancial.com/iran-wants-new-currency-for-china-bloc-with-30-of-global-gdp">Iran Wants New Currency for China Bloc With 30% of Global GDP</a> <div class="tt-post-cat"> 07 Jun 2022 </div> </div> </div> </li><li> <div class="tt-post type-7 dark clearfix post-586 post type-post status-publish format-standard has-post-thumbnail hentry category-news tag-all tag-health tag-politics"> <a class="tt-post-img custom-hover" href="https://www.asiafinancial.com/china-youth-unemployment-to-hit-23-bank-of-america-says"> <img width="80" height="80" src="https://www.asiafinancial.com/wp-content/uploads/2021/05/china_jobs_fair.jpg" class="img-responsive wp-post-image" alt="China Youth Unemployment to Hit 23%, Bank of America Says"> </a> <div class="tt-post-info"> <a class="tt-post-title c-h6" href="https://www.asiafinancial.com/china-youth-unemployment-to-hit-23-bank-of-america-says">China Youth Unemployment to Hit 23%, Bank of America Says</a> <div class="tt-post-cat"> 06 Jun 2022 </div> </div> </div> </li><li> <div class="tt-post type-7 dark clearfix post-586 post type-post status-publish format-standard has-post-thumbnail hentry category-news tag-all tag-health tag-politics"> <a class="tt-post-img custom-hover" href="https://www.asiafinancial.com/china-seizing-hi-tech-share-from-us-in-win-lose-battle"> <img width="80" height="80" src="https://www.asiafinancial.com/wp-content/uploads/2021/05/china_high_tech_workers_in_suits-e1677752255610.jpg" class="img-responsive wp-post-image" alt="China Seizing Hi-Tech Share From US in ‘Win-Lose’ Battle"> </a> <div class="tt-post-info"> <a class="tt-post-title c-h6" href="https://www.asiafinancial.com/china-seizing-hi-tech-share-from-us-in-win-lose-battle">China Seizing Hi-Tech Share From US in ‘Win-Lose’ Battle</a> <div class="tt-post-cat"> 08 Jun 2022 </div> </div> </div> </li><li> <div class="tt-post type-7 dark clearfix post-586 post type-post status-publish format-standard has-post-thumbnail hentry category-news tag-all tag-health tag-politics"> <a class="tt-post-img custom-hover" href="https://www.asiafinancial.com/xi-jinping-rails-against-sanctions-in-boao-forum-speech"> <img width="80" height="80" src="https://www.asiafinancial.com/wp-content/uploads/2022/01/000_1681X3-compressed-scaled-e1647483232636.jpg" class="img-responsive wp-post-image" alt="Xi Jinping Rails Against Sanctions in Boao Forum Speech"> </a> <div class="tt-post-info"> <a class="tt-post-title c-h6" href="https://www.asiafinancial.com/xi-jinping-rails-against-sanctions-in-boao-forum-speech">Xi Jinping Rails Against Sanctions in Boao Forum Speech</a> <div class="tt-post-cat"> 21 Apr 2022 </div> </div> </div> </li> </ul>  </div> </div> <div id="tab-2" class="tab-content"> <div class="custom-sidebar sidebar-item widget widget_recent_posts_entries"> <ul class="tt-post-list dark"> </ul>  </div> </div> </div> <div style="margin:15px 0 15px 0;"> <div id='div-gpt-ad-sidebar_1'> <div data-onpage=true data-adpath="/339474670,22668885096/ATimesFin/sidebar_2"></div> </div> </div> </div> </div> </div> </div> <div class="empty-space tt-page-margin-top marg-lg-b30 marg-sm-b30"></div> <div class="advertbx mid-ad-bg"> <div class="container"> <div class="row"> <div class="col-md-12"> <div class="bottom-ads">   <div id='div-gpt-ad-leaderboard_2'> <div data-onpage=true data-adpath="/339474670,22668885096/ATimesFin/leaderboard_1"></div> </div> </div> </div> </div> </div> </div>  <div class="tt-footer"> <div class="container"> <div class="row"> <div class="col-md-6 col-sm-6 col-1"> <div class="row"> <div class="ft-box col-md-4 col-sm-6 col-1"> <div class="ft-titel tt-title-block-2">ABOUT AF</div> <ul> <li><a href="https://www.asiafinancial.com/asia-financial-news-group">Asia Financial News Group</a></li> <li><a href="https://www.asiafinancial.com/asia-financial-index-group">Asia Financial Index Group</a></li> <li><a href="https://www.capitallinkintl.com/" target="_blank">Capital Link International</a></li> <li><a href="https://www.asiafinancial.com/ads-and-partnerships">Ads and Partnerships</a></li> <li><a href="https://www.asiafinancial.com/about-us">About Us</a></li> </ul> </div> <div class="ft-box col-md-4 col-sm-6 col-1"> <div class="ft-titel tt-title-block-2">RESOURCES</div> <ul> <li><a href="https://www.asiafinancial.com/index-tools">Index Tools</a></li> <li><a href="https://www.asiafinancial.com/newsletter">Newsletters</a></li> <li><a href="https://www.asiafinancial.com/your-af">Your AF</a></li> <li><a href="https://www.asiafinancial.com/careers">Careers</a></li> <li><a href="https://www.asiafinancial.com/contact-us">Contact Us</a></li> </ul> </div> <div class="ft-box col-md-4 col-sm-6 col-1"> <div class="ft-titel tt-title-block-2">LEGAL + PRIVACY</div> <ul> <li><a href="https://www.asiafinancial.com/copyright">Copyright</a></li> <li><a href="https://www.asiafinancial.com/legal-privacy">Legal & Privacy</a></li> <li><a href="https://www.asiafinancial.com/terms-conditions">Terms & Conditions</a></li> <li><a href="https://www.asiafinancial.com/privacy-policy">Privacy Policy</a></li> <li><a href="https://www.asiafinancial.com/cookies">Cookies</a></li> </ul> </div> </div> <div class="row"> <div class="empty-space marg-lg-b30"></div> <div class="col-md-6 col-sm-6 col-1"> <div class="textwidget"> <div class="footer-logo"><img src="https://www.asiafinancial.com/wp-content/themes/atf/images/asia-financial-logo.png"></div> </div> </div> <div class="col-md-6 col-sm-6 col-1"> <div class="textwidget"> <div class="footer-logo"><img src="https://www.asiafinancial.com/wp-content/themes/atf/images/asia-financial-logo2.png"></div> </div> </div> <div class="empty-space marg-xs-b30"></div> </div> </div> <div class="col-md-3 col-sm-6 col-3"> <div id="recent-posts-3" class="widget tt-footer-list footer_widget widget_recent_posts_entries"> <h5 class="tt-title-block-2">Must Read</h5> <div class="empty-space marg-lg-b5"></div> <ul class="tt-post-list dark"> <li> <div class="tt-post type-7 dark clearfix post-586 post type-post status-publish format-standard has-post-thumbnail hentry category-news tag-all tag-health tag-politics"> <a class="tt-post-img custom-hover" href="https://www.asiafinancial.com/adani-scandal-ups-risk-to-global-banks-indias-renewables-push"> <img width="80" height="80" src="https://www.asiafinancial.com/wp-content/uploads/2024/11/rei-copy-22.jpg" class="img-responsive wp-post-image" alt=""/> </a> <div class="tt-post-info"> <a class="tt-post-title c-h6" href="https://www.asiafinancial.com/adani-scandal-ups-risk-to-global-banks-indias-renewables-push">Adani Scandal Ups Risk to Global Banks, India’s Renewables Push</a> <div class="tt-post-cat"><a href="https://www.asiafinancial.com/regions/world" rel="category tag">World</a></div> </div> </div> </li><li> <div class="tt-post type-7 dark clearfix post-586 post type-post status-publish format-standard has-post-thumbnail hentry category-news tag-all tag-health tag-politics"> <a class="tt-post-img custom-hover" href="https://www.asiafinancial.com/us-seeks-review-changes-to-undersea-telecom-cable-rules"> <img width="80" height="80" src="https://www.asiafinancial.com/wp-content/uploads/2023/04/Workers-install-the-2Africa-undersea-cable-on-the-beach-in-Amanzimtoti-Rs.jpeg" class="img-responsive wp-post-image" alt=""/> </a> <div class="tt-post-info"> <a class="tt-post-title c-h6" href="https://www.asiafinancial.com/us-seeks-review-changes-to-undersea-telecom-cable-rules">US Seeks Review, Changes to Undersea Telecom Cable Rules</a> <div class="tt-post-cat"><a href="https://www.asiafinancial.com/regions/world" rel="category tag">World</a></div> </div> </div> </li><li> <div class="tt-post type-7 dark clearfix post-586 post type-post status-publish format-standard has-post-thumbnail hentry category-news tag-all tag-health tag-politics"> <a class="tt-post-img custom-hover" href="https://www.asiafinancial.com/chinas-huawei-smic-to-ramp-production-of-newest-ai-chip"> <img width="80" height="80" src="https://www.asiafinancial.com/wp-content/uploads/2023/09/3.jpg" class="img-responsive wp-post-image" alt=""/> </a> <div class="tt-post-info"> <a class="tt-post-title c-h6" href="https://www.asiafinancial.com/chinas-huawei-smic-to-ramp-production-of-newest-ai-chip">China’s Huawei, SMIC ‘to Ramp Production’ of Newest AI Chip</a> <div class="tt-post-cat"><a href="https://www.asiafinancial.com/regions/world" rel="category tag">World</a></div> </div> </div> </li> </ul> </div> <div class="empty-space marg-xs-b30"></div> </div> <div class="col-md-3 col-sm-6 col-4"> <div id="tag_cloud-7" class="widget tt-footer-list footer_widget widget_tag_cloud"> <h5 class="tt-title-block-2">Tags</h5> <div class="empty-space marg-lg-b20"></div> <div class="tagcloud"><a href="https://www.asiafinancial.com/tag/china" class="tag-cloud-link tag-link-31 tag-link-position-1" style="font-size: 8pt;" aria-label="All (13 items)"> China</a> <a href="https://www.asiafinancial.com/tag/bonds" class="tag-cloud-link tag-link-29 tag-link-position-2" style="font-size: 8pt;" aria-label="Health (13 items)">Bonds</a> <a href="https://www.asiafinancial.com/tag/us" class="tag-cloud-link tag-link-28 tag-link-position-3" style="font-size: 8pt;" aria-label="Politics (13 items)">US</a></div> </div> <div id="tag_cloud-2" class="widget tt-footer-list footer_widget widget_tag_cloud"> <h5 class="tt-title-block-2">Categories</h5> <div class="empty-space marg-lg-b20"></div> <div class="tagcloud"> <a href="https://www.asiafinancial.com/af-indexes" class="tag-cloud-link tag-link-30 tag-link-position-1" style="font-size: 8pt;" aria-label="Business (4 items)">AF Indexes</a> <a href="https://www.asiafinancial.com/markets" class="tag-cloud-link tag-link-30 tag-link-position-1" style="font-size: 8pt;" aria-label="Business (4 items)">Markets</a> <a href="https://www.asiafinancial.com/fintech" class="tag-cloud-link tag-link-30 tag-link-position-1" style="font-size: 8pt;" aria-label="Business (4 items)">Fintech</a> <a href="https://www.asiafinancial.com/energy" class="tag-cloud-link tag-link-30 tag-link-position-1" style="font-size: 8pt;" aria-label="Business (4 items)">Energy</a> <a href="https://www.asiafinancial.com/transport" class="tag-cloud-link tag-link-30 tag-link-position-1" style="font-size: 8pt;" aria-label="Business (4 items)">Transport</a> <a href="https://www.asiafinancial.com/health" class="tag-cloud-link tag-link-30 tag-link-position-1" style="font-size: 8pt;" aria-label="Business (4 items)">Health</a> <a href="https://www.asiafinancial.com/regions" class="tag-cloud-link tag-link-30 tag-link-position-1" style="font-size: 8pt;" aria-label="Business (4 items)">Regions</a> <a href="https://www.asiafinancial.com/opinion" class="tag-cloud-link tag-link-30 tag-link-position-1" style="font-size: 8pt;" aria-label="Business (4 items)">Opinion</a> </div> </div> <div class="empty-space marg-xs-b30"></div> </div> <div class="col-md-12"> <div class="empty-space marg-lg-b60 marg-sm-b50 marg-xs-b30"></div> </div> </div> </div> <div class="tt-footer-copy"> <div class="container"> <div class="row"> <div class="col-md-6 col-sm-6 col-1"> <div class="ft-titel tt-title-block-2">DISCLAIMER</div> <p></p> </div> <div class="col-md-3 col-sm-6 col-1"> <p>Asia Financial is owned by Capital Link International Holdings Ltd, 902, Wilson House 19-27 Wyndham Street, Central, Hong Kong. www.capitallinkintl.com</p> </div> <div class="col-md-3 col-sm-6 col-1"> <img src="https://www.asiafinancial.com/wp-content/themes/atf/images/capital-link.png"> </div> </div> </div> </div> </div> </div> </div>  <script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script><script type='text/javascript'> document.addEventListener( 'wpcf7mailsent', function( event ) { if( "fb_pxl_code" in event.detail.apiResponse){ eval(event.detail.apiResponse.fb_pxl_code); } }, false ); </script>  <div id='fb-pxl-ajax-code'></div><script type='text/javascript' src='https://www.asiafinancial.com/wp-content/plugins/metronet-profile-picture/js/mpp-frontend.js?ver=2.6.3' id='mpp_gutenberg_tabs-js'></script> <script type='text/javascript' src='https://www.asiafinancial.com/wp-includes/js/wp-embed.min.js?ver=5.8.10' id='wp-embed-js'></script> <script type='text/javascript'> /* <![CDATA[ */ var wpcf7 = { "apiSettings": { "root": "https:\/\/www.asiatimesfinancial.com\/demo\/magplus\/newspro\/wp-json\/contact-form-7\/v1", "namespace": "contact-form-7\/v1" }, "cached": "1" }; /* ]]> */ </script> <script type='text/javascript'> /* <![CDATA[ */ var woocommerce_params = { "ajax_url": "\/demo\/magplus\/newspro\/wp-admin\/admin-ajax.php", "wc_ajax_url": "\/demo\/magplus\/newspro\/?wc-ajax=%%endpoint%%" }; /* ]]> */ </script> <script type='text/javascript'> /* <![CDATA[ */ var wc_cart_fragments_params = { "ajax_url": "\/demo\/magplus\/newspro\/wp-admin\/admin-ajax.php", "wc_ajax_url": "\/demo\/magplus\/newspro\/?wc-ajax=%%endpoint%%", "cart_hash_key": "wc_cart_hash_21b96ebe847cb2610b7f3957862072a8", "fragment_name": "wc_fragments_21b96ebe847cb2610b7f3957862072a8", "request_timeout": "5000" }; /* ]]> */ </script> <script type='text/javascript'> /* <![CDATA[ */ var magplus_ajax = { "ajaxurl": "https:\/\/www.asiatimesfinancial.com\/demo\/magplus\/newspro\/wp-admin\/admin-ajax.php", "siteurl": "https:\/\/www.asiatimesfinancial.com\/demo\/magplus\/newspro\/wp-content\/themes\/magplus", "nonce": "8db882ff64" }; /* ]]> */ </script> <script type='text/javascript'> /* <![CDATA[ */ var newsletter = { "messages": { "email_error": "The email is not correct", "name_error": "The name is not correct", "surname_error": "The last name is not correct", "profile_error": "A mandatory field is not filled in", "privacy_error": "You must accept the privacy statement" }, "profile_max": "20" }; /* ]]> */ </script> <script> (function() { var indeces = [ { key: "ALLIBL50", name: "Financials China Onshore Bond Index" }, { key: "KOINTR", name: "Policy Bank Bonds China Onshore" }, { key: "EKARTR", name: "Enterprises (SOE) China Onshore" } /* { key: "ALLILOGO10", name: "Local Government Bond from Chinese Provincial Governments" }, */ ]; fetchAllindex(function(rawData) { var data = parseData(rawData) // populateContent(data); //animate(); }); function fetchAllindex(cb) { var indexPathSegment = indeces .map(function(i) { return i.key; }) .join(","); var xhr = new XMLHttpRequest(); xhr.open( "GET", "https://tool.allindex.com/api/index/" + indexPathSegment + "/performance/key/" ); /* xhr.setRequestHeader( "Authorization", "Api-Key bDk4pQv6.JXg2IrxRxNR8eRckXecyORMzmxDKSIcK" ); */ xhr.setRequestHeader( "X-Api-Key", "3QXcuRq6.hCAyMdB1GD1cbSqfdoGHDeQy5bxa5u5C" ); xhr.onload = function(e) { var data = JSON.parse(xhr.response); cb(data); }; xhr.send(); window.xhr = xhr; } function parseData(rawData) { var parsedData = []; var headstr = '<li style="margin-right: 5px;">AF Indexes -</li>'; var mobistr = '<li style="margin-right: 5px;">AF Indexes -</li>'; var counter = 0; for (var index of indeces) { var name = index.name; var key = index.key; var datum = rawData[key]; var change = (datum.level_T - datum.level_T_minus_1); var percentChange = ((datum.level_T - datum.level_T_minus_1) / datum.level_T_minus_1) * 100; var isPositive = change >= 0; var formatprecentage = (isPositive ? '+' : '') + percentChange.toFixed(2) + '%'; var border = '1px solid #8ac53e'; if ( ! isPositive ) { border = '1px solid red'; } text = 'value' if ( index.key == 'ALLIBL50' ) { text = 'AF China Bond'; } else if ( index.key == 'KOINTR' ) { text = 'AF Global Fintech'; } else if ( index.key == 'EKARTR' ) { text = 'AF Global EV'; } else { if ( text == '' ) { text = index.key; } } headstr += '<li style><a style="color:#fff; font-weight:400;" href="https://www.asiafinancial.com/asia-financial-index-group">'+ text +'</a><span style="border:'+ border +'">'+ formatprecentage +'</span></li>'; if ( counter == 0 ) { mobistr += '<li style><a style="color:#fff; font-weight:400;" href="https://www.asiafinancial.com/asia-financial-index-group">'+ text +'</a><span style="border:'+ border +'">'+ formatprecentage +'</span></li>'; } parsedData.push({ name: name, key: key, level: datum.level_T, change: change, percentChange: percentChange, formattedLevel: datum.level_T.toFixed(3), formattedChange: (isPositive ? '+' : '') + change.toFixed(2), formattedPercentChange: (isPositive ? '+' : '') + percentChange.toFixed(2) + '%', isPositive: isPositive, currentLevel: datum.level_T, previouLevel: datum.level_T_minus_1, }); counter++; } //jQuery("#top-list ul").append(headstr + '<li><a href="https://www.marketaxess.com/?utm_source=Asia_Times_Financial&utm_medium=Logo_Sponsorship&utm_campaign=ALM" target="_blank"><img src="https://www.asiafinancial.com/wp-content/uploads/2021/05/logo-market-access.jpg"></a></li>'); jQuery("#top-list ul").append(headstr); //jQuery("#top-list-mobi ul").append(mobistr + '<li><a href="https://www.marketaxess.com/?utm_source=Asia_Times_Financial&utm_medium=Logo_Sponsorship&utm_campaign=ALM" target="_blank"><img src="https://www.asiafinancial.com/wp-content/uploads/2021/05/logo-market-access.jpg"></a></li>'); jQuery("#top-list-mobi ul").append(mobistr); //return parsedData; } function populateContent(data) { const containerEl = document.querySelector( "section.marquee .marquee-items" ); for (var index of data) { // Create HTML elements var indexEl = document.createElement("li"); indexEl.classList.add("marquee-item"); indexEl.classList.add(index.isPositive ? 'marquee-item-positive' : 'marquee-item-negative'); var nameEl = document.createElement("div"); nameEl.classList.add("marquee-item-name"); nameEl.innerText = index.name + ' (' + index.key + ')'; var valueEl = document.createElement("div"); valueEl.classList.add("marquee-item-value"); valueEl.innerText = index.formattedLevel; var changeEl = document.createElement('div'); changeEl.classList.add('marquee-item-change') changeEl.innerText = index.formattedChange + ' (' + index.formattedPercentChange + ')'; // Append HTML elements to the DOM containerEl.appendChild(indexEl); indexEl.appendChild(nameEl); indexEl.appendChild(valueEl); indexEl.appendChild(changeEl); } } // Repeat elements and animate function animate() { const sections = document.querySelectorAll( "section.marquee:not([data-animation-started])" ); for (let section of sections) { section.dataset.animationStarted = true; const content = section.querySelector(".marquee-content"); const list = content.children[0]; // Clone and append list items n times. const n = 10; const l = list.children.length; for (let i = 0; i < l * n; i++) { list.appendChild(list.children[i % l].cloneNode(true)); } setTimeout(() => { const speed = 0.04; // px/ms const distance = section.scrollWidth; const duration = distance / speed; const animation = content.animate( [ // keyframes { transform: "translateX(0px)" }, { transform: `translateX(-${distance}px)` } ], { // timing options duration: duration, iterations: Infinity } ); section.onmouseenter = () => animation.pause(); section.onmouseleave = () => animation.play(); }, 50); } } })();</script> <script type="text/javascript"> $( '.cmn-mobile-switch' ).click( function() { $( '.tt-mobile-block' ).toggleClass( 'active' ); $( '#content-wrapper' ).toggleClass( 'active' ); return false; } ); $( '.tt-mobile-close' ).click( function() { $( '.tt-mobile-block' ).toggleClass( 'active' ); $( '#content-wrapper' ).toggleClass( 'active' ); return false; } ); </script> </body> </html>