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The property market is a significant contributor to China's economy but is currently in deep trouble, with many observers saying the government should intervene quickly to prevent a major collapse. In October, existing home prices nosedived, experiencing their biggest fall for nearly a decade, and new property loans fell for the first time.

In a significant legal development, 42 state attorneys general from all political persuasions have come together to file lawsuits against Meta. They are claiming that some of the features on Facebook and Instagram are addictive and deliberately targeted to children and young adults.

The price of new Tesla Model Y and Model 3 vehicles will soon increase in some of the company’s most important markets, such as the United States and China. This could stimulate customer demand and create a sense of urgency among buyers but also decrease sales volume. In addition, the ongoing global semiconductor shortage may have influenced Tesla’s decision to increase prices, as it has affected the production of many industries, including the automotive sector.

BYD, the world's largest electric vehicle (EV) maker by sales, has announced that the Chinese EV market has entered a consolidation stage, with some players being eliminated while others grab a larger share of the market. Wang Chuanfu, founder, chairman, and CEO of the Chinese carmaker, stated that this stage was inevitable as the supply of EVs exceeded demand, and a price war ensued. "Some players in the EV market will not last, while others will take a bigger market share," he said.