Stories from China

The third phase of the Canton Fair is scheduled to take place from May 1 to May 5. This shift follows the implementation of tariffs by the Trump administration. The fair's outcomes are expected to provide insight into China's response to US trade policies. A buyer from the United States, Sylvia, expressed surprise at the high quality and good price of unprocessed, virgin hair extensions at the Canton Fair. Exhibitors from Zhejiang Province, numbering 7,764 companies with approximately 17,000 booths, are participating in the Canton Fair. Guangdong Province is exhibiting 7,764 enterprises at the Canton Fair, occupying approximately 17,000 booths. Many of these enterprises are participating as part of organized groups. One outdoor table integrates a gas stove and tea set, weighing under 10 kilograms and foldable for storage. These multi-use outdoor products are gaining consumer favor.

China is developing an exascale supercomputer utilizing 47,000 domestic processors to achieve 2 Exaflops of performance. The Lingshen supercomputer is expected to use Huawei Kunpeng servers and avoid foreign-made components. The system utilizes Huawei Kunpeng servers and operates without the use of GPUs or foreign-made components.

BYD reported first-quarter revenue of 150.2 billion yuan, representing a figure for the period. Net profit for the quarter reached 4.085 billion yuan. Net profit was 4.085 billion yuan, a 55.38% year-on-year decrease, with basic earnings per share at 0.4480 yuan. BYD sold more than 300,000 vehicles in the first quarter, representing a 56 percent increase. The company aims to sell 1.5 million vehicles outside of China this year. The company noted that rising fuel prices may drive consumers toward electric vehicles as an attractive alternative. This trend is expected to assist the automaker in meeting sales targets. The report was discussed in the context of ongoing competition in the electric vehicle market. Revenue was 150.2 billion yuan with a net profit of 4.085 billion yuan and EPS of 0.4480 yuan.

The 2025 version of the 'Guidelines for the Construction of the Standard System for the Technology Service Industry' has been released.

The Hormuz Strait dispute remains a sensitive issue requiring ongoing communication between parties. Resolving the dispute and disagreements regarding the Hormuz Strait will likely require a amount of time. Liu Xinchun, Dean of the China Institute of Arab Countries at Linxia University, noted that breakthroughs in negotiations require specific progress on the Hormuz Strait issue. Negotiations regarding the Hormuz Strait dispute face hurdles as parties struggle to find a compromise. Chinese leader Xi Jinping called for the Strait of Hormuz to remain open to ensure the free flow of energy and trade. He stated that the strait is an economic artery rather than a narrow regional passage. This position aligns with the United Arab Emirates' stance on maintaining global economic stability and confidence through unobstructed maritime routes.

China has added 12 new sites to the UNESCO Global Geoparks Network. The new sites include Changshan in Zhejiang Province and Siguniang Mountains in Sichuan Province. China's birth rate has fallen below the death rate by 352,000 people, marking the largest population deficit since World War II. The decision comes as China's economy achieved 5% growth in the first quarter of 2026 despite geopolitical risks and changing trade environments. The agency cited China's large-scale market, complete supply chain system, and export competitiveness as foundations for its credit rating. This follows the implementation of macro-economic control policies by the Chinese government to manage economic pressures. The rating was maintained with an outlook upgraded to stable, supported by China's macroeconomic policies and supply chain advantages.

Engineer Yao Qiming developed a race track safety simulation system with independent intellectual property rights. The project began after Yao noted that all existing Chinese racing circuits were designed by foreign engineers.

China's Ministry of Industry and Information Technology reported that the total number of mobile phones running the open-source HarmonyOS reached over 55 million units by the end of March. Total shipments of mobile devices running the open-source HarmonyOS exceeded 55 million units as of late March. The minister noted that industrial software has formed a product system covering key industries, significantly increasing overall technical strength. This announcement follows reports of increased capacity in China's new energy vehicle sector. Huawei's homegrown HarmonyOS operating system has surpassed 55 million smartphone users in China. The expansion is part of a strategic effort to reduce domestic reliance on foreign technology.

China National Offshore Oil Corporation (CNOOC) reported a first-quarter profit of 39.14 billion yuan under Chinese accounting standards. Finance Manager Huang Yufan stated that international oil price volatility, influenced by Middle East tensions, has impacted market conditions. Brent crude prices rose from an average of approximately $64 per barrel in January to approximately $98 per barrel in March. Gasoline sales revenue rose approximately 10 percent to 97 billion yuan due to a 4.5 percent increase in the average realized oil price. CNOOC reported that its first quarter costs rose over 5% year-on-year to $28.41 per ton. This marks the fastest growth rate in six quarters. Total oil and gas production reached 20.5 million barrels, a record high that increased by 8.6 percent year-on-year. Revenue also rose by nearly 9 percent during the period.

China has implemented the country's first high-speed train control system based on Ethernet technology. China has successfully implemented Ethernet-based control systems for high-speed rail operations. The Beijing-Guangzhou high-speed railway has achieved full-line operation at a standard speed of 350 kilometers per hour. The development of this system took five years of independent research and development. The train is described as one of the fastest commercial operating trains in the world. This technology represents a step in China's transition from catching up to leading in rail technology. China has completed five years of research and development for a self-developed 600 km/h high-speed rail transportation system.