Politburo sets tone on AI
China’s Politburo vowed to comprehensively implement an “AI+” initiative to drive economic growth.
China grants zero-tariff treatment to African partners
Effective May 1, the policy expands on an earlier zero-tariff initiative for 33 least-developed African nations. China will become the first major economy to offer unilateral, comprehensive zero-tariff treatment to all its African diplomatic partners.
BYD reports sharp profit decline
The electric-vehicle maker’s first-quarter revenue fell 11.8% year-on-year, while net profit plunged 55.4%. Despite the earnings pressure, overseas sales volume surged by more than 50%.
UAE to exit OPEC and OPEC+
The UAE said it will withdraw from the oil alliances effective May 1 and gradually increase production. Its energy minister cited a review of the country’s energy sector, while analysts pointed to recent regional conflicts and disruptions in the Strait of Hormuz as likely catalysts for the decision.
Contact editor Lin Jinbing (jinbinglin@caixin.com)
