HOT TOPICS
Middle East tensions and energy markets
U.S. President Donald Trump said Monday that Iran wants “very much to make a deal” and an agreement could be reached in five days or even less, though Iran denied holding talks with the U.S.
China responds to Iran oil security question
When asked if China had requested Iran to guarantee the security of oil shipments to the country, China’s Foreign Ministry reiterated its call for all parties to immediately stop military actions to avoid further escalation and prevent regional turmoil from causing a greater impact on global economic development.
Beijing adjusts fuel prices to cushion global oil shock
China Monday implemented temporary control measures on refined oil prices. Gasoline and diesel prices were raised by 1,160 yuan ($160) and 1,115 yuan a ton, respectively. This translates to an increase of roughly 0.87 yuan and 0.95 yuan a liter. The National Development and Reform Commission said the move aims to mitigate the impact of abnormally high international oil prices on domestic users. Separately, China Petroleum and Chemical Corp. said its refined oil inventories can guarantee stable production and operations, adding that it has formulated multiple contingency plans.
Market slump and gold plunge
International gold prices plunged, and Shanghai gold fell below the 1,000-yuan-a-gram mark, giving up all gains made so far in 2026. The Shanghai Gold Exchange warned of risks, advising investors to make rational investments and reasonably control their positions. A Citic Futures Co. Ltd. analyst said the market is more focused on the secondary shock of damaged energy facilities on global inflation, leading to gold’s positive reaction to geopolitical risks being partially offset by higher interest rate expectations.
Tech patent dispute
SZ DJI Technology Co. Ltd. sued Insta360 over six patent disputes, claiming the patents involve DJI’s core technology and were filed by former employees shortly after they joined Insta360. Insta360’s founder responded that the patents originated from independent internal innovation.
NEWS SUMMARY
Domestic
Guangzhou is exploring the use of housing vouchers to purchase second-hand homes.
Bank of China Ltd. called for strengthening risk prevention in the precious metal market.
The latest revisions to the FTSE China Index Series took effect on March 23.
Companies
Alibaba’s AI assistant Tongyi Qianwen officially launched an AI ride-hailing service, renewing competition with AMap and Didi Global Inc.
Zijin Mining Group Co. Ltd.’s net profit topped 50 billion yuan for the first time in 2025, with the company noting that the logic for high gold prices remains intact in the medium to long term.
China Citic Bank Corp. Ltd. reported a nearly 3% increase in net profit and a seven-year consecutive drop in its nonperforming loan ratio, with the chairman stating that historical burdens have been cleared.
WuXi AppTec Co. Ltd. posted a 2025 net profit of 19.2 billion yuan, up 105.2% year-on-year.
Guoquan Food (Shanghai) Co. Ltd. saw its full-year net profit surge 88.2%, targeting the ‘dining at home’ market in lower-tier cities.
Xiaomi Corp. founder Lei Jun said orders for the new-generation SU7 electric vehicle have exceeded 30,000 units.
Apple Inc. CEO Tim Cook said China remains the company’s most important global supply chain base.
Ping An Bank Co. Ltd. saw the decline in its net interest income narrow in 2025, but its non-interest income plunged due to bond market volatility.
International
The International Energy Agency reported that more than 40 energy assets in the Middle East have been severely damaged.
The Chinese government’s special envoy for Middle East affairs advised against traveling to Iran and neighboring countries.
South Korea made a final anti-dumping ruling against carbon and alloy steel hot-rolled coils imported from China.
