HOT TOPICS
China responds to U.S. Section 301 tariffs
Washington announced the results of its most extensive Section 301 investigation, proposing additional tariffs of 10% or 12.5% on 60 economies. In response, China’s Ministry of Foreign Affairs stated that Beijing consistently opposes all forms of unilateral tariffs, emphasizing that tariff and trade wars do not serve any party’s interests and that economic and trade issues should be resolved through dialogue and consultation based on equality, respect and mutual benefit.
BYD ventures into humanoid robots
BYD has entered the humanoid robot sector, with Executive Vice President Stella Li saying that competition hinges on manufacturing capabilities and integrated software and hardware, according to Chinese media reports. Li added that automotive artificial intelligence capabilities share the same origins, suggesting that if robots are eventually deemed ready for home use, they could be sold through the company’s dealer network.
Doubao introduces pro version
ByteDance’s artificial intelligence assistant Doubao plans to launch a professional version tailored to specialized productivity needs. Core features for everyday users, including search, Q&A, writing, image generation and voice and video conversations, will remain free to ensure user habits and experiences are unaffected.
Maersk suspends Strait of Hormuz transit
Citing a deteriorating security situation stemming from the conflict between the U.S., Israel and Iran, shipping giant Maersk announced the suspension of its vessels passing through the Strait of Hormuz. The company has activated emergency contingency plans to transport goods overland.
China warns against Taiwan’s potential clampdown on social media apps
In response to Taiwan leader Lai Ching-te’s stated intention to address the influence of Chinese mainland applications like TikTok and Xiaohongshu on Taiwanese youth, the Taiwan Affairs Office stated that these platforms help young people in Taiwan grow and achieve their dreams. The office added that any attempts to disrupt cross-Strait exchanges will fail and instead make the applications more popular.
NEWS SUMMARY
Domestic
More listed companies have been required to pay supplementary taxes so far in 2026 compared with the same period last year, primarily due to failing to meet tax preference conditions.
China introduced new outbound investment rules aimed at managing the technology diffusion of advantageous industries and the relocation of production lines.
The quota for Qualified Domestic Institutional Investor funds is facing severe shortages again, though a few products still offer subscription windows.
Companies
Tencent’s market capitalization surged to HK$4 trillion ($510 billion) as market expectations rose following the launch of WeChat’s artificial intelligence agent.
ByteDance’s Volcano Engine raised its 2026 Model-as-a-Service revenue target to 15 billion yuan ($2.2 billion), with its Seedance 2.0 model already generating over 1 billion yuan in single-month revenue.
Yangtze Memory Technologies’ market share rose to 13% in the first quarter, as global NAND market revenue surpassed the full-year total for 2023.
Alibaba has opened its flagship AI application Qwen to third-party service providers, allowing users to execute commercial tasks directly through the chatbot.
Fast-fashion retailer Shein faces continued regulatory headwinds in France, receiving a new fine of 177 million yuan.
Contact editor Kelsey Cheng (kelseycheng@caixin.com)
