Real-time News

On April 29th, Mike Sanders, Head of Fixed Income at Madison Investments, stated in a report that the market will be focused on how Federal Reserve Chairman Jerome Powell describes the committee's consensus view on recent inflation and the future policy path, especially as Powell's term as chairman is drawing to a close. "With rising oil prices potentially leading to persistently high inflation, investors will want to know as much as possible about the committee's view on the balance of risks," he said. He added that the labor market is "okay, but not great," but rate cuts in a high-inflation environment would have a significant impact on the yield curve and the overall economy, while a near-term rate hike is not expected.

Geely Automobile (00175.HK) shares rose more than 4% in the afternoon. The company reported a first-quarter profit attributable to owners of the parent company of RMB 4.17 billion, a year-on-year decrease of 27%.

Hong Kong Exchanges and Clearing Limited (00388.HK) rose more than 2% in the afternoon. The company’s profit attributable to shareholders in the first quarter was HK$5.188 billion, up 27% year-on-year.

UBS (UBS.N): Expectations of a diplomatic solution in the Middle East have kept markets resilient.

On April 29th, a thematic exchange activity on data development theory and practice research, hosted by the National Data Development Research Institute, was held in Fuzhou on April 28th. During the event, the "Computing-Power Collaborative Technology and Industry Integration Innovation Consortium" was established. Yuan Jun, Vice President of the National Data Development Research Institute, stated that the current collaborative development of computing and power faces a synergistic dilemma involving three objectives: security, green development, and economic efficiency—the "impossible triangle" challenge. The rapid growth in computing power demand is mismatched with the long construction cycle of energy facilities, and the "electricity waiting for computing" approach easily leads to over-allocation and resource waste. A nationwide coordinated approach is needed, integrating computing power and power grid planning into a unified spatial system, with appropriate forward-looking and dynamic adaptation to AI development.

Market news: The EU is considering imposing stricter conditions on its $105 billion loan to Ukraine.

On April 29th, it was learned from the Beijing Municipal Administration for Market Regulation that since the beginning of this year, Beijing's market regulation departments have been cracking down on illegal modifications of electric bicycles that exceed standards through various means, including undercover investigations, surprise night inspections, source tracing, and testing. In response to typical problems discovered during the special rectification campaign, the Beijing Municipal Administration for Market Regulation recently held warning talks with eight electric bicycle manufacturers—Yadea, Aima, Tailg, Ninebot, Niu, Xiaodao, Xinri, and Luyuan—and their Beijing-based sales agents, clearly outlining "two implementations and five prohibitions." These include: enterprises must strictly implement their primary responsibility for quality and safety; strictly implement mandatory product certification regulations; strictly prohibit the production and sale of vehicles inconsistent with certified samples; strictly prohibit reserving space for modification; strictly prohibit the sale of uncertified vehicles; strictly prohibit the sale of substandard vehicles; and strictly prohibit the addition of modifications to electric bicycles, effectively ensuring consumer safety.

During the 25th collective study session of the Political Bureau of the CPC Central Committee, Xi Jinping emphasized the need to focus on improving the ability to prevent and respond to natural disasters and to effectively safeguard the lives and property of the people.

April 29 - In recent years, the Cyberspace Administration of China has focused on carrying out special campaigns to address typical and prominent issues that undermine the business environment and harm the legitimate rights and interests of enterprises and entrepreneurs online. A total of more than 927,000 pieces of infringing information involving enterprises have been cleaned up, and more than 89,800 illegal and irregular accounts have been dealt with.

On April 29, the China Council for the Promotion of International Trade (CCPIT) announced that, with the approval of the State Council, the CCPIT will host the 2026 Global Trade and Investment Promotion Summit in Beijing on May 18. The summit, themed "Moving Towards the New, Connecting the Future," will include an opening ceremony, plenary sessions, and two parallel forums, highlighting three key themes: First, "New," focusing on the new deployments and requirements of the 15th Five-Year Plan regarding guiding the development of new-quality productive forces, as well as the new trends and hotspots in current global economic development. Second, "Intelligence," focusing on the wave of artificial intelligence to support innovative development in trade and investment. Third, "Integration," implementing the newly issued "Opinions of the State Council on Promoting the Expansion and Quality Improvement of the Service Industry," exploring ways to promote the deep integration of the service industry and manufacturing industry, and stimulating new vitality for industrial upgrading. The "Beijing Initiative for the 2026 Global Trade and Investment Promotion Summit" will be released during the summit.

April 29th - IDC's latest report, "China Automotive Cloud Market (H2 2025) Tracker," shows that the Chinese automotive public cloud IaaS market will continue its rapid growth in the second half of 2025, reaching a market size of 6.8 billion RMB. Alibaba Cloud maintains its leading position with a 42% market share. Since 2021, Alibaba Cloud has been the top-ranked automotive public cloud IaaS provider in China for five consecutive years. According to IDC's estimates, public cloud has become the future trend for cloud infrastructure in the automotive industry, accounting for 87% of the market.

On April 29th, Hong Kong Exchanges and Clearing Limited (00388.HK) announced that its revenue and other income for the first quarter of 2026 were HK$8.203 billion, an increase of 20% compared to the first quarter of 2025 (and 12% compared to the fourth quarter of 2025). Revenue from its main business increased by 22% compared to the first quarter of 2025, reflecting increased trading and settlement fees due to higher trading volumes in the spot and commodity markets. Profit attributable to shareholders was HK$5.188 billion, an increase of 27% compared to the first quarter of 2025 (and 20% compared to the fourth quarter of 2025).

On April 29, the State Taxation Administration held a press conference in Chongqing to release the "Country-Specific Implementation Guidelines for the Global Minimum Tax Rule," which for the first time released the country-specific implementation guidelines for Denmark, Ireland, and the United Arab Emirates. This marks a further upgrade to the "Tax Road" cross-border tax knowledge product system.

On April 29th, TSMC (TSM.N) announced in a company filing that it had sold its remaining stake in Arm (ARM.O). The filing shows that TSMC Partners sold 1.11 million Arm shares at $207.65 per share between April 28th and 29th, for a total of approximately $231 million. This sale had a $174 million impact on retained earnings. Following the transaction, TSMC no longer holds any Arm shares. TSMC, along with several strategic investors, invested approximately $100 million in Arm during its 2023 IPO at $51 per share. Subsequently, TSMC gradually reduced its holdings, selling 850,000 shares at $119.47 per share in 2024, realizing approximately $102 million.

On April 29th, the Inaugural Meeting of the Guangdong-Hong Kong-Macao Greater Bay Area (Guangzhou) Securities and Futures Arbitration Center and the 13th Southern Financial Law Forum were held in Guangzhou on the 28th. More than 200 representatives from financial regulators, judicial administration, arbitration service institutions, industry associations, and universities witnessed the center's launch. According to the Guangzhou Arbitration Commission, this center is the first securities and futures arbitration institution approved to be established nationwide outside of the pilot programs in Beijing, Shanghai, and Shenzhen, filling a gap in the region. The center brings together a group of experts with profound theoretical knowledge and rich experience in the fields of financial law and capital market regulation, aiming to provide professional support for handling complex financial disputes and improving diversified dispute resolution mechanisms.

On April 29th, the Tianjin Municipal Bureau of Commerce issued a public notice soliciting opinions on the "15th Five-Year Plan for the Integrated Development of Culture, Commerce, Tourism, Sports, and Exhibitions in Tianjin." The plan aims to significantly increase the proportion of the added value of the city's culture, commerce, tourism, sports, exhibitions, and related industries in the regional GDP by 2030; achieve a total retail sales of consumer goods of 500 billion yuan; have the growth rate of service retail sales among the highest in the country; increase the total revenue of accommodation and catering to 45 billion yuan; reach a total scale of 60 billion yuan in the sports service industry; strive to exceed 5 million square meters of exhibition space annually; strive to exceed 40 billion yuan in operating revenue for cultural and tourism enterprises above designated size; achieve steady growth in tourism spending; and continuously enhance the comprehensive competitiveness of the industry and its contribution to economic growth.

On April 29th, the Ministry of Agriculture and Rural Affairs held a national conference on expanding effective investment in agriculture and rural areas in Wuhan, Hubei Province, on April 28th. Zhang Xingwang, member of the Party Leadership Group and Vice Minister of the Ministry of Agriculture and Rural Affairs, attended and addressed the meeting. Tao Huaiying, Chief Veterinarian and Director of the Planning and Finance Department of the Ministry of Agriculture and Rural Affairs, presided over the meeting. The meeting pointed out that since the beginning of the 14th Five-Year Plan, agricultural and rural departments at all levels have earnestly implemented the decisions and deployments of the CPC Central Committee and the State Council, focusing closely on key tasks related to agriculture, rural areas, and farmers, actively coordinating and securing fiscal support funds for agriculture, continuously improving diversified investment, deepening policy innovation, and strengthening the supervision of project funds, providing strong support for maintaining the good momentum of agricultural and rural development. The meeting emphasized the need to accurately grasp the current situation and tasks facing agricultural and rural investment work during the 15th Five-Year Plan period, focusing on improving the comprehensive agricultural production capacity and quality efficiency, ensuring no large-scale return to poverty, promoting the construction of livable, workable, and beautiful villages, improving the effectiveness of policies to strengthen agriculture, benefit farmers, and enrich rural areas, and accelerating the construction of a diversified investment pattern, to fully promote the expansion of effective investment in agriculture and rural areas, address weaknesses and shortcomings, and provide strong guarantees for achieving the development goals of the 15th Five-Year Plan.

April 29th - The 10th Chief Negotiators' Meeting of the Working Group on China's Accession to the Digital Economy Partnership Agreement (DEPA) was held in Seoul, South Korea, from April 27th to 28th. China exchanged in-depth views with DEPA members including Chile, New Zealand, Singapore, and South Korea on the negotiation process for China's accession and held detailed discussions on related issues.

On April 29th, the China Multimodal Transport Development Alliance was established in Beijing. Led by China State Railway Group Co., Ltd., and jointly initiated by four leading state-owned enterprises in the logistics sector—China COSCO Shipping Corporation Limited, China Merchants Group Limited, China Logistics Group Co., Ltd., and China Digital Logistics Information Co., Ltd.—the alliance will jointly build three collaborative platforms for rail-water intermodal transport, rail-road intermodal transport, and technological innovation, as well as the 95306 national multimodal transport service hotline, to promote the high-quality development of multimodal transport. The alliance's website was also launched simultaneously.