Stories from Beijing · China

Goldman Sachs reports indicate China has achieved breakthroughs in low-cost computing power for high-end AI large model manufacturing. Analysts no longer view Chinese technology stocks solely as contract manufacturers but as globally competitive sources of innovation. Investors are reportedly willing to pay premiums for these technical barriers. In the first quarter of 2026, 15 hard-tech companies achieved dual A-share and H-share listings.

Cui Hongjian, Director of the EU and Regional Development Research Center at Beijing Foreign Studies University, stated that European trust in the United States is decreasing. This shift is driven by changing perceptions of NATO's strategic importance. According to Cui, the strategic value of Europe is declining in the eyes of the United States. Furthermore, the benefits that NATO provides to the U.S. are reportedly diminishing. The report notes that even under Donald Trump, NATO is viewed as having reduced utility. Some perspectives, including those associated with Donald Trump, suggest NATO has become a burden.

CITIC Securities (6000030) reported that its securities investment business revenue accounted for 36.88 percent of the company's total revenue in 2025. This segment saw a year-on-year growth of 25.55%. Securities derivatives currently represent 38.89% of the firm's net capital. The company aims to increase the proportion of emerging income from structured products to over 40% in the coming years to establish a stable cash flow. The company holds comprehensive licenses, including access to US stocks via Hong Kong. Short-term profit contributions from overseas expansion are currently expected to be difficult. While profit contributions are not expected in the short term, the strategic focus remains on global layout.

Heavy rainfall is forecasted to move from west to east across southern China, including parts of Jiangnan, South China, and the eastern regions. Meteorological updates indicate heavy rainfall is moving from west to east across several regions. Temperatures in Xi'an and Lanzhou are expected to decrease by approximately 9 degrees Celsius on May 1st. The Central Meteorological Observatory predicts a period of precipitation and cooling across most of China during the early May Day holiday. Southern China is expected to experience heavy rainfall, with some areas facing thunderstorms, strong winds, and hail. Southern China is experiencing continuous rainfall, with heavier precipitation expected on May 2nd. The May Day holiday box office exceeded 300 million yuan, with the first day's average ticket price at 36.8 yuan, the lowest in four years.

Reports indicate China is developing mini nuclear weapons and dangerous missiles. The United States has issued warnings regarding these developments. China has developed a robotic submersible capable of reaching depths of nearly 12,000 feet. The technology is capable of cutting undersea internet cables at these depths. Chinese officials state the device is intended for research purposes. This development follows reports regarding China's maritime capabilities. The specific purpose of the submersible remains a subject of international scrutiny. The technology allows for operations at depths to potentially interfere with subsea infrastructure. The capability is noted alongside ongoing discussions regarding China's strategic maritime activities. China is advancing a new 'Smart Economy' strategic framework as outlined in the recent government work report.

China's new employment group, characterized by flexible work, has reached an estimated 84 million people nationwide. New management protocols for the onboarding process of these new employment groups are also being said. Chinese authorities are said the role of corporate headquarters in regulating the 'new employment group' to improve worker well-being. Chinese authorities are proposing measures to ensure reasonable labor compensation for new employment groups, including internet platform workers. The proposal focuses on balancing work tasks with labor intensity and ensuring protections for rest periods. It also addresses contract certainty and implementation in special circumstances. Implementation will focus on contract certainty and specific labor intensity metrics.

The 2026 Snooker tournament continues its round of 16 matches on April 27. Athletes are facing bans due to doping offenses. The 2026 Snooker Championship enters its round of 16 stage on April 27. The snooker competition continues on April 27 in Beijing. Chinese player Wu Yize is set to face four-time champion Mark Selby in the third stage of their match on April 27.

The 2026 World Diving World Cup finals are taking place this week at the National Aquatics Center in Beijing. Over 90 elite divers from 17 different countries and regions are participating in the competition. The event is taking place at the Water Cube. The Chinese team will compete as the home nation during the competition. The Diving World Cup Super Finals will take place in Beijing from May 1 to May 3. The event will feature top divers including Olympic champion Chen Yuxi, Chen Yewen, Lian Junjie, and Wang Zongyuan. The schedule includes synchronized and mixed team finals on May 1, followed by men's 3m springboard and women's 10m platform finals on May 2. The final day on May 3 will feature women's 3m springboard and men's 10m platform competitions. In the previous season's finals, the Chinese team won all available gold medals.

BYD is on track to sell 10 million vehicles in 2026. The company's growth has been noted during recent auto shows. Chinese electric vehicles are being described as significantly cheaper than competitors, with some models priced at half the cost of others. This trend is impacting market perceptions of Beijing-made cars.

The Australian dollar is maintaining a short-term high position against the US dollar. The Australian dollar's selling price against the Korean won is 7.836. Current quotes are at 1.3584, with the daily cycle showing high volatility but a recent rebound. Short-term support is identified between 1.3490 and 1.3510.