Trump arrives in Beijing
At the invitation of Chinese President Xi Jinping, U.S. President Donald Trump arrived in Beijing on Wednesday evening for a state visit, where he was welcomed by Chinese Vice President Han Zheng. A welcoming ceremony is held Thursday morning at the Great Hall of the People, followed by a meeting between the two leaders.
China and U.S. hold talks in South Korea
China and the U.S. held trade talks in South Korea on Wednesday. Guided by the consensus of their top leaders, the two sides engaged in candid, in-depth and constructive discussions focused on resolving trade issues and further expanding cooperation, according to a statement by the Ministry of Commerce.
UAE resumes oil exports via ship-to-ship transfers
The United Arab Emirates is resuming oil exports using ship-to-ship transfers with the assistance of Chinese shipowners and other tanker companies. Separately, the Chinese-owned 310,000-ton very large crude carrier Yuanhuahu successfully exited the Strait of Hormuz from the Persian Gulf on Wednesday morning, fully loaded with crude oil from an Iraqi port.
A-shares rally, ChiNext breaks 4,000
China’s three major A-share indexes rallied on Wednesday, with the tech-heavy ChiNext index breaking the 4,000-point mark to hit a record high. The combined trading volume of the Shanghai and Shenzhen bourses topped 3 trillion yuan ($441.8 billion) for the sixth consecutive trading day, led by surges in computing hardware and power grid stocks.
NEWS SUMMARY
China’s National Healthcare Security Administration has issued a five-year action plan for 2026 to 2030, aiming for full coverage of on-site inspections of designated medical institutions.
The Civil Aviation Administration of China’s low-altitude economy safety department has officially made its debut.
Tencent Holdings Ltd. reported a 20% year-on-year increase in first-quarter net profit and plans to further increase artificial intelligence (AI)-related capital expenditures in the second half of the year.
Alibaba Group Holding Ltd.’s earnings for the quarter ended March missed expectations as profit plunged due to dual investments in AI and on-demand retail, while revenue rose 3% year-on-year to 243.4 billion yuan.
Contact editor Kelsey Cheng (kelseycheng@caixin.com)
