Stories from Beijing · China

China's digital infrastructure has been significantly enhanced, with the total number of 5G base stations reaching 4.958 million by the end of March 2026. The tourism sector is experiencing growth, with many service areas on highways transforming into popular tourist spots featuring small theaters. The number of server racks at a data center has increased fivefold over the past two years, leading to concerns about electricity supply keeping pace with the rapid expansion of computing power. Systems are being developed to forecast daily data center power needs. This growth presents challenges in meeting electricity demands. Local governments and power grid companies are supporting data centers, including the construction of dedicated power stations utilizing wind and solar energy.

The 7-day annualized yield for the Tianhong Yu'ebao money market fund fell to 0.999% on May 2.

China's total outbound direct investment in the first quarter of this year reached 309.45 billion yuan, a year-on-year increase of 23.45%. Millions of trips were recorded, highlighting robust domestic tourism and spending. This surge is seen as a positive sign for the broader economy. The dual boom in domestic and international tourism positions China to consolidate its global tourism leadership. The Fujian and Shandong ships are ready for operations, with the second ship cleared for takeoff. The transcript mentions record travel numbers and a increase in passenger volume. The Ministry of Transport expects cross-regional passenger flows to exceed 1.5 billion trips, averaging over 300 million people daily. Diversified consumption patterns and service sector growth were key factors, with government initiatives promoting varied consumer experiences and quality improvements playing a role.

A customer, identified as Mr. The investigation addresses the issue of 'AB goods,' where counterfeit or inferior products are sold alongside genuine ones, fueled by merchants' profit motives and platform algorithms, with the cost of illegal activities being too low. China's market regulators are investigating deceptive pricing practices on e-commerce platforms, including 'AB goods' where different qualities of the same product are sold under similar listings. Regulators said that such actions are not minor errors but fraudulent behavior requiring attention, and that the low cost of illegal activities contributes to the prevalence of deceptive pricing. The goal is to promote the high-quality development of the e-commerce industry. The investigation aims to promote high-quality development in the e-commerce sector and ensure it returns to its economic fundamentals.

Romanian table tennis player Edvard Ionescu won the first set against China's Liang Jingkun. The source noted Ionescu utilized a clear tactical approach and high-quality backhand shots to pressure Liang. Liang struggled with the opponent's spin, leading to several unforced errors. Ionescu, ranked highest on the Romanian team, employed a clear strategy and effective backhand shots that troubled Liang. Romanian player Edvard Ionescu defeated Chinese player Liang Jingkun in their first match. The match took place in Beijing. Ionescu's tactical approach and effective backhand shots created numerous threats and unforced errors for Liang Jingkun, leading to Ionescu winning the first game. His backhand shots were particularly effective, leading to Liang Jingkun's unforced errors and loss of the first game.

China's Supreme Court has clarified rules regarding vehicle liability, stating that if a minor causes damage, the user of the vehicle bears full responsibility. China has cleaned up over 10 million administrative penalty records as of the end of April, aimed at protecting corporate rights. The ruling also strengthens penalties against intentional actions leading to damage. New judicial interpretations from China's Supreme People's Court clarify that vehicle users are responsible for compensation, and owners/managers are liable for negligence. China's Ministry of Transport has issued new regulations clarifying liability rules for vehicle leasing. The interpretations also address fault considerations in 'good Samaritan' situations. The report also mentioned ongoing engineering works on Queen's Road West in the Western District, causing street closures from 9 PM to 6 AM.

An explosion occurred in a Chinese residential area. The transcript contained unrelated narrative content about protecting sheep and children from wolves. The cause and specific location were not immediately clear. The exact cause and extent of damage are not specified in the transcript. The incident was mentioned in relation to ongoing discussions about regional security. It also stated that the explosion was caused by a gas leak. The event was mentioned by CNR Voice of China. No casualties or damage have been officially reported yet, but residents described hearing a loud blast. An accident involving a passenger bus and a fuel tanker occurred, resulting in at least 16 deaths. Authorities are on the scene to manage the situation and provide assistance. The explosion caused a partial building collapse. This is the latest in a series of similar incidents.

China has urged Japan to deeply reflect on its militaristic past following reports of Japan's Type 88 anti-ship missile being fired during joint military exercises with the US. China has issued criticism regarding a recent missile launch conducted by Japan. Chinese Foreign Minister Wang Yi met with Iranian Foreign Minister Araghchi to discuss the situation in Iran. China's Foreign Minister Wang Yi stated that the international community shares common concerns about restoring normal and safe passage in the Strait of Hormuz. He also expressed support for Iran's right to peaceful nuclear energy use and its commitment not to develop nuclear weapons. Wang Yi stated that Gulf and Middle Eastern countries should control their own destinies and supported regional cooperation for shared interests and development.

China's Ministry of Culture and Tourism has identified multiple 5A-rated tourist attractions with issues including unscientific route designs, unreasonable pricing, and long queues.

Institutional investors are shifting their focus from high-growth stocks to undervalued, high-dividend-paying cyclical and consumer stocks.