Great news for the drone industry! The Chinese Ministry of Commerce, the General Administration of Customs, the State Administration of Science, Technology and Industry for National Defense, and the Equipment Development Department of the Central Military Commission have issued two regulations on the export control of drones. They have implemented a two-year temporary export control on some consumer drones and prohibited the export of all civilian drones not included in the control for military purposes. In addition, export controls are imposed on some drone-specific engines, important payloads, radio communication equipment, and civilian anti-drone systems. These policies will be officially implemented on September 1.
According to the spokesperson of the Ministry of Commerce, high-performance drones have certain military attributes, and it is an international practice to implement export controls on them. DJI, a global drone company, has stated that it will strictly comply with the temporary export control policy of drones to ensure full compliance. China has gradually implemented export controls on drones since 2002, and the control scope and technical standards are consistent with international standards.
In other news, Tesla has announced another price cut in Hong Kong. According to the “Hong Kong Economic Daily,” the prices of Tesla’s Model 3 and Model Y will be reduced again on August 4, following a previous price adjustment in April. Some models will see price reductions of up to 11.9%. The entry-level Model 3 and Model Y, which didn’t receive price reductions in the last round, will also have their prices reduced. The biggest price drop will be on the Model 3 Performance, with a nearly 12% decrease from HK$440,000 to HK$388,000. This price cut comes after Tesla’s financial report for the second quarter of 2023, which showed revenue of US$24.927 billion and a year-on-year increase of 47%.