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BEIJING Chinas economic growth in 2022 slumped to one of its worst levels in nearly half a century as the fourth quarter was hit hard by stringent Covid-19 curbs and a property market slump, raising pressure on policymakers to unveil more stimulus this year.

The quarterly growth and some of the December indicators such as retail sales beat market expectations, but analysts noted that the overall economic impulse across China remained weak and highlighted the challenges facing Beijing after it abruptly dropped its zero-Covid policy last month.

Gross domestic product (GDP) grew 2.9 per cent in the October-to-December period from a year earlier, data from the National Bureau of Statistics (NBS) showed on Tuesday, slower than the third quarters 3.9 per cent pace. The rate still exceeded the second quarters 0.4 per cent expansion and market expectations of a 1.8 per cent gain.

Beijings sudden relaxation of stringent anti-virus measures has boosted expectations of an economic revival this year, but it has also led to a sharp rise in Covid-19 cases that economists say might hamper near-term growth. A property slump and weak global demand also mean a rebound in growth will be heavily reliant on shell-shocked consumers.

Chinas 2023 will be bumpy; not only will it have to navigate the threat of new Covid-19 waves, but the countrys worsening residential property market and weak global demand for its exports will also be significant brakes, Mr Harry Murphy Cruise, an economist at Moodys Analytics, said in a note.

For 2022, GDP expanded 3 per cent, badly missing the official target of around 5.5 per cent and braking sharply from the 8.4 per cent growth in 2021. Excluding the 2.2 per cent expansion after the initial Covid-19 wave hit in 2020, it is the worst showing since 1976 the final year of the decade-long Cultural Revolution that wrecked the economy.

Asian shares dropped after the Chinese data, while the renminbi skidded to a one-week low.

Activity data in December surprised broadly to the upside but remains weak, particularly across demand-side segments such as retail spending, Ms Louise Loo, a senior economist at Oxford Economics, said in a note.

(The) data so far supports our long-held view that Chinas reopening boost will be somewhat anaemic at the beginning, with consumer spending being a key laggard in the initial stages.

A Reuters poll forecast growth to rebound to 4.9 per cent in 2023 as Chinese leaders move to tackle some key drags on growth the zero-Covid policy and a severe property sector downturn. Most economists expect growth to pick up in the second quarter.

On a quarterly basis, GDP stalled, coming in at zero growth in the fourth quarter, compared with growth of 3.9 per cent in July to September, highlighting underlying weakness across many sectors.

Beijings lifting of Covid-19 curbs has seen businesses struggling with surging infections, suggesting a bumpy recovery in the near term.

The ongoing exit wave on the back of Chinas faster-than-expected reopening has taken a heavy toll on economic activity in recent months due to surging infections, a temporary labour shortage and supply chain disruptions, economists at Goldman Sachs said, noting the annual contractions in output of both steel products and cement in December.

Factory output grew 1.3 per cent in December from a year earlier, slowing from the 2.2 per cent rise in November, while retail sales, a key gauge of consumption, shrank 1.8 per cent last month, extending Novembers 5.9 per cent drop. More On This Topic Chinas population shrinks for first time in over 60 years Chinas boost for flagging world economy looms as reopening starts Chinas top leaders have pledged to prioritise consumption expansion to support domestic demand and the broad economy this year, at a time when local exporters struggle in the wake of global recession risks. The central bank is also expected to steadily ease policy this year.

China is likely to aim for economic growth of at least 5 per cent in 2023 to keep a lid on unemployment, policy sources said.

Chinas property industry was among the biggest drags on growth. Investment in the sector fell 10 per cent year on year in 2022, the first decline since records began in 1999, and property sales slumped the most since 1992, NBS data showed, suggesting that government support measures were having minimal impact so far.

The authorities have rolled out a flurry of support policies targeting home buyers and property developers in recent weeks to relieve a long-running liquidity squeeze that has hit developers and delayed the completion of many housing projects.

Adding to the challenges facing the economy and the government, Chinas population in 2022 fell for the first time since 1961, the NBS data showed, a historic turn that is expected to mark the start of a long period of decline in its citizen numbers and see India become the worlds most populous nation in 2023.

The population will likely trend down from here in the coming years. This is very important, with implications for potential growth and domestic demand, said Pinpoint Asset Management chief economist Zhang Zhiwei.

Going forward, demographics will be a headwind. Economic growth will have to depend more on productivity growth, which is driven by government policies. REUTERS More On This Topic China exports and imports tumble sharply in December, cloud 2023 growth outlook Xis plan to reset Chinas economy and win back friends

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Environment

Heybike Mars 2.0 e-bike with extra battery at $1,199, Exclusive $2,900 off Mango 3,500Wh station, Aiper IrriSense system at new $500 low, more

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August 20, 2025

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Heybike Mars 2.0 e-bike with extra battery at ,199, Exclusive ,900 off Mango 3,500Wh station, Aiper IrriSense system at new 0 low, more

Leading today’s Green Deals is Heybike’s Labor Day Sale, which is taking up to $600 off its e-bike lineup while offering a special first-time bundle on the Mars 2.0 Folding Fat-Tire e-bike with an extra battery for a 90-mile range at $1,199. Right behind it is an exclusive $2,900 discount on the Mango Power E 3,500Wh CATL Power Station back at its $899 low, as well as Aiper’s latest IrriSense Smart Irrigation System hitting a new $500 low. From there, we have compact Bluetti power station deals, a second-ever Aventon e-bike discount, a one-day-only Greenworks pressure washer sale, and more waiting for you below. Plus, all the hangover savings are at the bottom of the page, like yesterday’s new low price on the Navee GT3 Max smart e-scooter, Tenways’ $907 savings on the AGO X mid-drive e-bike bundle, and more.

Head below for other New Green Deals we’ve found today and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.

Heybike has launched its Labor Day Sale that is taking up to $600 off its e-bike lineup in what looks to be segmented periods with fresh deals every handful of days. With the brand having just released its new Ranger Pro 3.0 and Mars 3.0 e-bikes two weeks ago, we’re seeing the predecessor models getting some significant savings, with the Mars 2.0 Folding Fat-Tire e-bike seeing a first-time bundle that gives it an extra battery at $1,199 shipped. This bundle would normally run you $1,848 with everything at full price, giving you a first-ever $649 savings bundle that doubles your commuting range, though if you don’t care about the battery, you can pick up the usual package at $999 shipped. Don’t dawdle on decisions, though, as there is a timer counting down until this deal ends in a few days.

This is quite an affordable long-distance bundle to score on Heybike’s Mars 2.0 e-bike, which, alongside the Ranger S e-bike, has become a popular budget-friendly option – especially with deals like this one. Each of these 600Wh batteries provides you with a 45-mile pedal-assisted range, with a throttle available that gives you pure electric mobility at a reduced mileage (although with two batteries, it’s not as much of a concern how much you rely on it). There is no option to upgrade the motor with this bundle, so you’ll be getting the standard 750W motor (1,400W peak) that carries you at up to 20 MPH speeds unless your state’s local laws allow for the unlocked 28 MPH top speed.

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Over the years I’ve come to love folding commuters more and more, especially as a New Yorker who lives in tighter apartment spaces, and you just can’t beat the compacting design in my case. There’s plenty of solid stock features on Heybike’s Mars 2.0 e-bike coming along too, like the puncture-resistant fat tires (with fenders over each) that prevent premature endings to your journey, as well as an integrated cargo rack that’s great for carrying bags, groceries, and other cargo in your day-to-day schedule. You’ll also enjoy the LED headlight and taillight combo, a 7-speed Shimano derailleur, and an LED screen for all your setting adjustment needs.

Heybike’s other Labor Day e-bike deals:

  • Hauler Single-Battery Cargo e-bike (low): $999 (Reg. $1,499)
    • 20/28 MPH for 55 miles
  • Mars 2.0 Folding Fat-Tire e-bike: $999 (Reg. $1,499)
    • 20/28 MPH for 45 miles
    • comes with free front basket and large basket
    • upgrade to 1000W model for $100 more
  • Ranger S Folding Fat-Tire e-bike: $1,099 (Reg. $1,499)
    • 20/28 MPH for 55 miles
    • comes with free front basket and large basket
  • Cityrun Urban Commuting e-bike: $1,099 (Reg. $1,599)
    • 21 MPH for up to 55 miles
    • comes with free front basket and large basket
  • Horizon Full-Suspension e-bike: $1,399 (Reg. $1,999)
    • 20/28 MPH for 55 miles
    • comes with free front basket and large basket
  • Hauler Dual-Battery Cargo e-bike: $1,399 (Reg. $1,899)
    • 20/28 MPH for 85 miles
  • Tyson Uni-Body e-bike: $1,499 (Reg. $1,799)
    • 20/28 MPH for 55 miles
    • comes with free large basket
  • ALPHA All-Terrain e-bike (low): $1,499 (Reg. $1,699)
    • 20/28 MPH for up to 60 miles
  • Hero 1,000W Carbon-Fiber All-Terrain e-bike: $2,299 (Reg. $2,599)
    • 35 MPH for 60 miles
  • Hero 750W Mid-Drive Carbon-Fiber All-Terrain e-bike: $2,599 (Reg. $3,099)
    • 35 MPH for 60 miles

And be sure to check out our launch coverage of Heybike’s two newest models, the Ranger Pro 3.0 Folding Fat-Tire e-bike and the Mars 3.0 Folding Fat-Tire e-bike, which come with the brand’s new Galaxy Perform eDrive System, as well as extended travel ranges, and tons of new features, like the NFC start-up.

Mango Power E portable power station sitting with solar panels in front of a camper in the grass

Mango’s monstrous Power E 3,500Wh CATL station gets an exclusive $2,900 price cut to returning $899 low

Our readers can now take advantage of an exclusive Wellbots deal on the Mango Power E 3,500Wh Portable Power Station at $899 shipped, after using the exclusive code 9TO5MANGOP700 at checkout. The website has already dropped it from its $3,799 price tag to $1,599, and using our exclusive code you’ll be scoring an additional $700 discount for a massive $2,900 combined savings. We’ve had this same deal to offer once before back in March, with folks getting a second chance at these massive savings today at the best price we have tracked.

If you want to learn more about this power station’s capabilities, be sure to check out our original coverage of this massive deal here.

Aiper IrriSense smart irrigation system watering lawn in front of house on sunny day

Water up to 4,800 square feet with Aiper’s latest IrriSense smart irrigation system at a new $500 low (Save $200)

Through its official Amazon storefront, Aiper is offering a lower-than-ever price on its new IrriSense Smart Irrigation System at $499.99 shipped, which matches in price directly from the brand’s website. This new release only hit the market in May with a $700 price tag that we’ve only seen drop to $600 a few times in the months since, most recently during last month’s Prime Day event. Things are dropping even lower here now, though, with a larger-than-ever $200 markdown that lands it at a new all-time low price.

If you want to learn more about this new watering solution, be sure to check out our original coverage of this deal here.

people riding down streets on Aventon Pace 4 e-bike

Aventon’s new security-packed Pace 4 smart step-through cruiser e-bike gets second-ever discount to $1,699 low

As part of its Final Summer Sale running through September 3, Aventon is offering a second chance at cash savings on its new Pace 4 Smart Step-Through Cruiser e-bike for $1,699 shipped. This newer model hit the scene back in April with a full $1,799 price tag, which only saw occasional bundle packages tacked on until the brand’s July 4th sale offered the first discount to this same rate. Now the $100 markdown is coming back around for the second time, officially solidifying this price as the lowest tracked.

If you want to learn more about this new commuting solution, be sure to check out our original coverage of this deal here.

man sitting on dune with laptop powered by Bluetti AC70P portable power station

Get 768Wh or 864Wh personal backup power with Bluetti’s AC70 or AC70P LiFePO4 stations starting from $329

By way of its official Amazon storefront, Bluetti is offering its AC70P Portable Power Station at $479 shipped, which beats out the direct pricing from the brand’s website by $170. While this model carries a $699 MSRP direct from the brand, we see it typically selling for $649 at Amazon, with discounts having kept the costs between $499 and $479 recently. The deal here gives you a 26% markdown off the going rate for $170 in savings ($220 off the MSRP) at the third-best price we have tracked, which has only been beaten by the $469 low we saw pop up during Black Friday and Cyber Monday sales and a one-time exclusive deal to $357 in December. Head below for more on this model and its cheaper counterpart that comes with bundle options.

If you want to learn more about this model or its AC70 counterpart and the bundle options there, be sure to check out our original coverage of these deals here.

man cleaning front steps to home with greenworks pro 3,000 PSI electric pressure washer

Get Greenworks’ newest pro-grade 3,000 PSI electric pressure washer at $330 for today only

As part of its Deals of the Day, Best Buy is offering the newer Greenworks Pro 3,000 PSI Electric Pressure Washer for $329.99 shipped, which beats out both Amazon and the brand’s direct website pricing, where both are sitting at their full $450 MSRP. Over at Best Buy, though, we see it starting at $400, with discounts over the year having gone as low as $285 in a previous one-day sale, dropping under the $292 Amazon low. The one-day-only deal here comes as a $70 markdown ($130 off the MSRP) that lands it at the third-lowest price we have tracked.

If you want to learn more about this pressure washer, be sure to check out our original coverage of this one-day-only deal here.

Best Summer EV deals!

Best new Green Deals landing this week

The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.

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Technology

These little robots are changing the way solar farms are built, saving time and money

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2 hours ago

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August 20, 2025

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These little robots are changing the way solar farms are built, saving time and money

Clean energy gets a robot boost

Private renewable energy projects are still moving forward despite a pullback in government support, and new technology is making that construction more efficient.

Solar farms, for example, take meticulous planning and surveying, involve long hours and require significant labor. Now, robots are taking on the job.

CivDot is a four-wheeled robot that can mark up to 3,000 layout points per day and is accurate within 8 millimeters. The machine can ride over rugged terrain and work through rough weather.

It is the brainchild of California-based Civ Robotics.

“Our secret sauce and our core technology is actually in the navigation and the geospatial — being able to literally mark coordinates within less than a quarter inch, which is very, very difficult in an uneven terrain, outdoor surfaces, and out in the desert,” said Tom Yeshurun, CEO of Civ Robotics.

The data for manual surveying is uploaded into the Civ software, then the operator chooses the area they want to mark and presses go. The robot does the rest, saving both time and money.

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“The manual surveying equipment, if you use that in the field and you have three crews, they will need three land surveying handheld receivers. That alone is already equal to how much we lease our machines in the field, and all the labor savings is just another benefit,” Yeshurun said.

Civ Robotics has more than 100 of these robots in the field that are primarily being used by renewable energy companies, but they are also used in oil and gas. It is currently working with Bechtel Corporation on several solar projects.

“These were usually pretty highly paid field engineers that we would send out there, and they might be able to do 250 or 350 pile marks a day. With the CivDot robot, we’re able to do about 1250 a day,” said Kelley Brown, vice president at Bechtel.

Brown said the company has used the robot in thick and muddy terrain in Texas and out in the deserts of Nevada.

“And so you have to think about things like the tires, or you may have to think about clearance. Are you trying to get over existing brush and such, across the solar field? So that’s one thing that we contemplate. I think the other is, you know, this runs on batteries, so you’ve got to contemplate battery swaps,” she added.

Civ Robotics is backed by Alleycorp, FF Venture Capital, Bobcat Company, Newfund Capital, Trimble Ventures, and Converge. Total VC funding to date is $12.5 million.

There are other robotics solutions for markings, but the competition is mostly doing work on highways and soccer fields. Yeshurun said those rivals can’t handle the terrains that the solar industry faces as it expands into new territories.

 CNBC producer Lisa Rizzolo contributed to this piece.

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Politics

US Senator Lummis: Crypto market structure bill will be law by 2026

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2 hours ago

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August 20, 2025

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US Senator Lummis: Crypto market structure bill will be law by 2026

US Senator Lummis: Crypto market structure bill will be law by 2026

The Wyoming lawmaker is one of the Republicans taking the lead to pass market structure in the US Senate.

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