CBN丨China, U.S. conduct professional, candid talks- senior official_1
Hieveryone.I’mStephanieLI.
Comingupontoday’sprogram
GlobalmarketsralliedonoptimismoverChina-U.S.tradetalks;ChinaunveilsnewguidelinestodeepenreformsinShenzhen.
Here’swhatyouneedtoknowaboutChinainthepast24hours
ChinaandtheUnitedStateshaveoverthepasttwodaysconductedprofessional,rational,in-depthandcandidexchanges,saidaseniorChineseofficialonTuesday.
LiChenggang,ChinainternationaltraderepresentativewiththeMinistryofCommerceandviceministerofcommerce,madetheremarkswhenbriefingthepressfollowingthefirstmeetingoftheChina-U.S.economicandtradeconsultationmechanismheldinLondon,Xinhuareported.
ThetwosideshaveagreedinprincipletheframeworkforimplementingconsensusbetweenthetwoheadsofstateduringtheirphonetalksonJune5,aswellasthosereachedatGenevatalks,Lisaid.
ItishopedthatprogressmadeattheLondonmeetingwillbeconducivetostrengtheningtrustbetweenChinaandtheUnitedStates,andtofurtherpromotingthesteadyandhealthydevelopmentofeconomicandtradetiesbetweenthetwocountries,hesaid,addingthatthemeetingalsoaddspositiveenergytoglobaleconomicgrowth.
AsianstocksmostlyadvancedonWednesday,ledbygainsinChinesemarkets,asoptimismgrewovernewsonaChina-U.S.tradeframework.
China'sbenchmarkShanghaiCompositeIndexopenedhigher,ledbygainsinconsumerproductsandbatterystocks.TheShanghaiCompositeended0.52percenthighertostandabovethe3,400-pointmark,theShenzhenComponentrose0.83percent,andtheChiNextboardrallied1.21percent.
InHongKong,thebenchmarkHangSengIndexadvanced0.84percentandtheTECHIndexadded1.09percent.
SouthKorea’sKOSPIrose0.6percenttoan11-monthhigh.Japan’sNikkei225climbed0.4percent,whilethebroaderTOPIXwasflatamidconcernsonBankofJapanratepolicy.
Australia’sASX200rose0.3percentafterhittingarecordintradayhighearlyon.
U.S.stocksalsoclosedhigheronTuesday,withtheDowJonesrisingby0.25percent.TheS&P500closedup0.55percent,andtheNasdaqclimbed0.63percent.
Chinawillimplementzero-tariffmeasuresfor100percentoftariffitemsfor53Africancountrieswithdiplomaticties,providingmoreconvenienceforexportsfromAfrica'sleastdevelopedcountriestoChina,ForeignMinistrySpokespersonLinJiansaidtoday.China’stotalimportsandexportswithAfricancountriesincreasedfromlessthan100billionyuanin2000to2.1trillionyuanin2024,markinganaverageannualgrowthof14.2percent,accordingtodatareleasedbytheGeneralAdministrationofCustoms(GAC)onWednesdayaheadofthefourthChina-AfricaEconomicandTradeExpo.
GBAexpress
ChinawillfurtheradvancecomprehensivereformsinthevibrantsoutherncityofShenzhen,andpushforgreaterinnovationandopening-upinthecity,accordingtoasetofguidelinesunveiledonTuesday,accordingtoXinhua.Theyemphasizestrengtheningtheintegrationofinnovation,industrial,capital,andtalentchains,whileexploringnewpathways,scenarios,andplatformsfortheGBAcooperation.Specifically,theguidelinescallforacoordinatedpushtointegratereformsineducation,scienceandtechnology,andtalentdevelopmentsystemsandmechanisms.Thisincludesreinforcingthecentralroleofenterprisesintechnologicalinnovationandimprovingeffectivepathwaysforleadingtechcompaniestoserveas"problemsetters"inR&D.Universitiesandenterprisesarealsoencouragedtojointlycultivatehigh-caliber,interdisciplinaryengineeringtalentandfosterapoolofinnovativeentrepreneursproficientincutting-edgetechnologies.Inaddition,theguidelinesproposemeasurestoenablethehigh-qualitydevelopmentoftherealeconomythroughfinance,technology,anddataintegration.ThisincludessupportingShenzheninlaunchingapilotprogramfortheintegrationoffinanceandthetechindustry.Theyalsosupportreformsinunmannedaerialvehicleflightmanagement,improvementoflow-altitudeflightregulations,andexplorationofgeneralaviationservicessuchascross-borderhelicopterflightsandpublicservicemissions.FoshanHaitianFlavouring&FoodCobegantakinginvestorordersforaHongKonglistingthatcouldraiseasmuchasHKD9.56billion,thelatestdealofitskindpoweringthecity’sshare-salerecoverythisyear.TheChinesemakerofsoysauceandothercondimentsisoffering263millionsharesatHKD35toHKD36.30each,accordingtoalistingdocumentonWednesday.Theorganizingcommitteeofthe15thNationalGamesonTuesdayunveiledthedesignsofthegold,silverandbronzemedals.ThemedalsarenamedTongxinyue—meaning“unitedleaps”—whichsymbolizesthecollaborativespiritanddevelopmentpulseoftheHongKongandMacaoSARs,andGuangdongprovince.TicketsalesforthegameswillkickoffinAugustwiththetriousingthesameticketingplatform.
Industryandcompanynews
Atotalof13ChineseautomakersmadeastatementonWednesday,promisingtounifytheirsupplierpaymenttimetowithin60days,inamovetoensurethestabilityoftheautomobilesectorsupplychain,accordingtoapostreleasedbyChina'sMinistryofIndustryandInformationTechnology(MIIT)onWednesday.CompaniesincludingBYD,Chang'anAutomobile,FAWGroup,XiaomiAuto,LiAuto,andXpeng,alongwithotherdomesticautomakers,haveissuedtheinitiativesofarthisweek.TencentMusicEntertainmentannouncedlateTuesdaythatitwillacquireleadingaudioplatformXimalayaforapproximatelyUSD1.3billionincashplustheissuanceofshares.Uponcompletionofthetransaction,XimalayawillbecomeawhollyownedsubsidiaryoftheChinesemusicplatform.Inresponsetonewsofthemerger,Ximalayasaiditwillcontinuetooperateunderitsexistingbrandandwillmaintainindependentmanagementofitscurrentproducts,coreleadershipteam,andoverallstrategicdirection.China'sdomesticallydevelopedAG600"Kunlong"amphibiousaircrafthasofficiallyenteredmassproductionafterreceivingtheproductioncertificatefromtheCivilAviationAdministrationofChinaonWednesday.ThenumberofdeparturetaxrefundtransactionsprocessedbyChina’staxauthoritiessurged116percentfromayearago,whilesalesattaxrefundshopsrose56percentbetweenApril27andMay26sincetherefinedtax-refund-upon-departurepolicyrolledout,theStateTaxationAdministrationsaid.ByteDancetodayreleaseditslatestgenerationofAImodel,Doubao1.6,whichincludesDoubao-Seed-1.6-thinking,Doubao-Seed-1.6,andDoubao-Seed-1.6-flash,cuttingthepriceby63percentcomparedwithDoubao1.5toaslowas2.6yuanpermilliontokens.MideaEnergytodayunveileditsthree-dimensionalgrowthstrategyfocusedonenergystorage,heatpumps,andAI.TheChinesehomeappliancegiantaimstodeveloptheenergysectorintoacorepillarofitsoverallbusiness,saidWeiChang,VPandCTOofMideaGroup.ArashiVisionsoared274percentonitstradingdebutinShanghaitoday.TheChinesemakeroftheInsta360actioncameraissued41millionsharesinitsIPO,raising1.9billionyuan.Amintgreen,130cm-tallLabubufigurinewassoldfor1.08millionyuaninaLabubu-themedauctioninBeijingyesterday.Anotherbrownlimited-editionLabubuwasauctionedfor820,000yuan.Theugly-cutemonstercreatedbyHongKongartistKasingLungandexclusivelysoldbyPopMarthassparkedaglobalbuyingfrenzy.StockpriceinPopMartcontinuedtohitnewhightoday,climbingover4percenttoHKD270,withamarketcapreachingHKD362.3billion.
Asia-Pacifichighlights
Singapore-basedbudgetairlineJetstarAsiawillcloseattheendofnextmonthafterover20yearsofoperation,itsAustralianownerQantasannouncedtoday.TheairlineisexpectedtologanAUD35million(USD22.8million)underlyingEBITlossthisfiscalyear.ItsclosurewillnotimpactAustralia-basedJetstarAirwaysorJetstarJapan.JDLogisticshasreportedlysetupateamofnearly1,000employeesinSaudiArabiaandstartedprovidingdeliveryservicesinRiyadh.TheexpressdeliveryarmofJD.Comdeclinedtocommentonthemediareport.
ExecutiveEditor:SoniaYU
Editor:LIYanxia
Host:StephanieLI
Writer:StephanieLI
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