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China Doubles Down on Mining: Q2 2026 Update
Mining dominated announced Chinese outbound investment in Q2 2026, driven by new acquisitions and the expansion of previously acquired operations.
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We support leaders in the public, corporate, and financial sectors with data-driven analysis of China’s economy, policy dynamics, and commercial ties.
Rhodium Group’s China research is grounded in an objective analysis of economic and policy dynamics, and a laser-like focus on implications for government and business decision-makers. We support the public sector, corporate leadership, and institutional investors’ strategy and decision-making with deep and actionable analysis of China’s economy and its global interactions. Our thought leadership work with philanthropies and think tanks has been a part of Rhodium’s mission since its founding in 2008.
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Fighting Hubris in AI Strategy: A Layer-by-Layer Dissection of AI Tech Stack Competition
Policy attention has fixated on chips, the cloud, and models. But crafting a durable AI strategy will require a broader approach reconciling industrial capacity, geopolitical realities, and rapid evolution of the technology.
Note
Can India Finally Realize Its Manufacturing Ambitions?
Trade deals with the EU and potentially the US, alongside other countries’ rising barriers to Chinese goods, offer India an opportunity to capture global export share, even as its manufacturing ecosystem remains less competitive.
Note
How Chinese Cars Took Over Thailand
In just a few years, Chinese OEMs have gone from zero to almost 30% market share, and a whopping 90% of EV sales. The question now is how much more market share Chinese OEMs can gain in the country.
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Take on Xi? Europe Counts Costs of China Shock
European and G7 leaders came together over the past week to discuss China, among other topics. In the run-up to the European Council meeting in Brussels on June 18-19, it looked like the EU might be on the verge of a major shift in its approach to Beijing.…
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Resource Nationalism and Inflation
As China and other countries engage in new forms of resource nationalism—attempting to control key industrial inputs at home—the results are strained global supply chains and new constraints on China’s growth.
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From Pledges to Plants? Rightsizing China’s Global Clean Tech Investment
Chinese overseas clean tech investment is growing but not as large as some headlines suggest, according to new data on FDI by Chinese companies abroad across the EV, solar PV, and wind turbine value chains.
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Chinese Investment in Europe Rises to Seven-Year High: Chinese FDI in Europe 2025 Update
Building on a long-standing collaboration between Rhodium Group and MERICS, this report summarizes China’s investment footprint in the EU-27 and the UK in 2025, analyzing policy developments and the shifting patterns in China’s FDI.
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China Investment Risk Analytics
Rhodium Group’s China Investment Risk Analytics (CIRA) screens Chinese issuers and portfolios for sanctions exposure, critical technology positioning, party-state ties, military affiliations, and emerging controversies.
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The China Cross-Border Monitor uses a transaction-based methodology to create a clear picture of China’s overseas investments and business presence.
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The China Pathfinder project scores China's market reform across six key areas relative to open market economy norms.
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1.
For the purposes of this study, we group the US and its partners into a “G7+” bloc comprising the G7 (US, Canada, United Kingdom, Japan, all EU) plus South Korea, Taiwan, Norway, Australia, Mexico, and Israel.
2.
Rovjok material flows analysis of germanium, 2024.
3.
Unless otherwise noted we assume current US hardware when stating GWs of data center capacity.
4.
YMTC responded to its US entity listing by leaning heavily into partnerships with local SME suppliers and has reportedly achieved over 50% localization of its tool base. Crucially, 3D NAND production does not rely heavily on advanced lithography and is more dependent on advanced etch and deposition tools—areas where local alternatives to G7+ products from emerging suppliers like Naura and AMEC are relatively more developed.
5.
Epoch AI, database of AI Models-notable AI models, last updated on January 12, 2026, https://epoch.ai/data/ai-models. According to Epoch AI, a notable model meets any of the following criteria: (i) state-of-the-art improvement on a recognized benchmark; (ii) highly cited (over 1000 citations); (iii) historical relevance; (iv) significant use. A model is attributed to a country if at least one author of the introducing paper is affiliated with an institution based there. Models with authors from multiple countries may therefore be double counted.
6.
Note that Liang refers to active parameters, not total. Several Chinese models released since have far larger total counts, including Kimi K3 with 2.8 trillion parameters. But these are mixture-of-experts architectures activating only a fraction per token; Kimi K3 activates an estimated 50–100 billion parameters.
7.
Adam Jonas et al., “The Humanoid 100: Mapping the Humanoid Robot Value Chain,” Morgan Stanley Research, February 6, 2025.
8.
For the purposes of this report, “clean technologies” refers exclusively to electric vehicles, wind turbines, and solar PV. It does not include energy infrastructure deployment, such as wind farms or solar farms.
9.
For more details on official government statistics, see Rhodium Group’s The Next Generation of China’s Outbound Investment: https://cbm.rhg.com/research-note/next-generation-chinas-outbound-investment
10.
According to Rhodium Group’s China Cross-Border Monitor.
11.
United Nations Trade and Development (UNCTAD). “Global foreign investment up 14% in 2025, with growth concentrated in developed economies” https://unctad.org/news/global-foreign-investment-14-2025-growth-concentrated-developed-economies. Accessed: April 22, 2026.
12.
Mayger, James and Do Rosario, Jorgelina. Bloomberg (2026). “IMF Warns China’s Economic Policies Are Causing Damage to Others” February, 18. https://www.bloomberg.com/news/articles/2026-02-18/imf-warns-china-s-economic-policies-are-causing-damage-to-others. Accessed: April 22, 2026.
13.
Boullenois, Camille and Williams, Gregor and Wright, Logan. Rhodium Group (2025). “Malign Indifference: China’s Currency and the Threat to Europe” December, 18. https://rhg.com/research/malign-indifference-chinas-currency-and-the-threat-to-europe/. Accessed: April 22, 2026.
14.
Bundeswirtschaftsministerium (BMWE). „Investment Screening in Germany: Facts & Figures,“ https://www.bundeswirtschaftsministerium.de/Redaktion/EN/Publikationen/Aussenwirtschaft/investment-screening-in-germany-facts-figures.pdf?__blob=publicationFile&v=1. Accessed: April 22, 2026.
15.
Foster, Peter and Borrett, Amy and Dunai, Marton and Minder, Raphael. Financial Times (2025). “China’s investment push in Europe hits a wall” October, 20. https://www.ft.com/content/093de2c1-162a-44c4-b954-15db3c856047. Accessed: April 22, 2026.
16.
Prudhomme, Cécile and Boutelet, Cécile. Le Monde (2025). “Amid Shein controversy, Chinese e-commerce giant JD.com sets sights on European market” November, 13. https://archive.is/kR6cn#selection-2049.387-2109.322. Accessed: April 22, 2026.
17.
Business Insider (2025). “Chinesische Autohersteller wollen angeblich diese VW-Werke in Deutschland kaufen“ January, 27. https://www.businessinsider.de/wirtschaft/mobility/vw-chinas-autohersteller-wollen-angeblich-deutsche-werke-kaufen/. Accessed: April 22, 2026.
18.
Council of the European Union. “Strengthening EU economic security” https://data.consilium.europa.eu/doc/document/ST-16389-2025-INIT/en/pdf. Accessed: April 22, 2026.
19.
Bounds, Andy and Foy, Henry and Dunai, Marton. Financial Times (2025). “EU probes BYD plant in Hungary over unfair Chinese subsidies” March, 20. https://www.ft.com/content/0ef28741-6194-4ee6-8f23-945415de7458?syn-25a6b1a6=1. Accessed: April 22, 2026.
20.
Laprévote, François-Charles et al. Concurrences (2025). “The Chinese Ministry of Commerce issues a final determination on a trade and investment barrier investigation into the EU’s FSR” January, 9. https://www.concurrences.com/en/bulletin/news-issues/january-2025/the-chinese-ministry-of-commerce-issues-a-final-determination-on-a-trade-and. Accessed: April 22, 2026.