🔥 Top Stories
China officially confirmed for the first time that it provided on-site technical support to Pakistan during last year's conflict with India. Chinese-made fighter aircraft shot down at least one Indian French-made fighter during the conflict. China's state broadcaster CCTV aired an interview with Zhang Heng, an engineer from AVIC's Chengdu Aircraft Design and Research Institute, a key developer of China's advanced fighter aircraft and unmanned systems.
North Korea announced it will deploy new long-range artillery systems this year capable of striking South Korea's capital region and will commission its first naval destroyer in coming weeks. The announcement follows South Korea's report that North Korea's revised constitution removes all references to Korean unification, aligning with leader Kim Jong-un's pledges to sever ties with South Korea and establish a two-state system on the Korean peninsula.
The United States and Iran exchanged fire on Thursday in the most serious test of their month-long ceasefire near the Strait of Hormuz. Iran's military reported that the US targeted two ships entering the strait. The US stated it does not intend to escalate, while awaiting Iran's response to a US proposal aimed at halting hostilities while leaving contentious issues, including Iran's nuclear programme, unresolved for now.
US President Donald Trump announced Thursday that the European Union must ratify their trade agreement by July 4 or face significantly higher tariffs. Trump stated he discussed the matter with EU chief Ursula von der Leyen and agreed to extend the deadline until America's 250th birthday, warning that tariffs would immediately increase substantially if the agreement is not ratified by then.
A British court found Bill Yuen Chung-biu, manager of the Hong Kong Economic and Trade Office in London, and Peter Wai Chi-leung guilty of assisting a foreign intelligence service on Thursday. The two men were accused of conducting surveillance on Hong Kong activists on behalf of Chinese authorities. Their arrests two years ago highlighted the controversial role of Hong Kong's overseas promotion offices globally.
🏛 Politics
The Philippines and Japan have completed joint military exercises called Balikatan, marking a significant shift in Philippine defence strategy. Japan will transfer warships to the Philippines, while Philippine Defence Secretary Gilberto Teodoro Jr. expressed serious concern over the Diaoyu Islands (called Senkaku Islands by Japan) for the first time, designating them as a regional security flashpoint and reflecting Manila's expanded security cooperation with Tokyo.
China officially confirmed for the first time that it provided on-site technical support to Pakistan during last year's conflict with India. Chinese-made fighter aircraft shot down at least one Indian French-made fighter during the conflict. China's state broadcaster CCTV aired an interview with Zhang Heng, an engineer from AVIC's Chengdu Aircraft Design and Research Institute, a key developer of China's advanced fighter aircraft and unmanned systems.
North Korea announced it will deploy new long-range artillery systems this year capable of striking South Korea's capital region and will commission its first naval destroyer in coming weeks. The announcement follows South Korea's report that North Korea's revised constitution removes all references to Korean unification, aligning with leader Kim Jong-un's pledges to sever ties with South Korea and establish a two-state system on the Korean peninsula.
The United States and Iran exchanged fire on Thursday in the most serious test of their month-long ceasefire near the Strait of Hormuz. Iran's military reported that the US targeted two ships entering the strait. The US stated it does not intend to escalate, while awaiting Iran's response to a US proposal aimed at halting hostilities while leaving contentious issues, including Iran's nuclear programme, unresolved for now.
Ukrainian President Volodymyr Zelensky warned Russia's allies against attending Moscow's May 9 World War II victory parade on Thursday. Russia declared a unilateral ceasefire from May 8-10 but simultaneously threatened retaliatory strikes on Kyiv that day, urging residents to evacuate. Ukraine has conveyed warnings to states with close ties to Russia regarding their participation in the parade.
The Trump administration is inviting CEOs from Nvidia, Apple, Boeing, Exxon and other major corporations to join the president on his trip to China next week. Executives from Qualcomm, Blackstone, Citigroup and Visa are also on the invitation list. Citigroup CEO Jane Fraser and Qualcomm have confirmed receiving invitations, signaling significant business sector engagement with the China visit.
The US and Philippines launched this year's Balikatan exercises involving over 17,000 troops through May 8. Japan participated in live-fire drills for the first time, while Australia, Canada, France, and New Zealand actively joined. The exercise location, participating nations, and emerging regional military cooperation patterns are drawing significant attention.
Paris' public prosecutor has opened a judicial investigation into Elon Musk's X social media platform over alleged algorithm abuse and fraudulent data practices. The development marks an escalation as investigating judges assume control of the case, following Musk's failure to appear for questioning on April 20. The prosecutor is requesting judges to investigate X.AI Holdings Corp, X Corp, and related entities.
The Trump administration has expanded sanctions against Cuba into the critical minerals sector, with Secretary of State Marco Rubio announcing sanctions Thursday against Moa Nickel SA, a joint venture between Canadian miner Sherritt International and Cuba's state-owned General Nickel Company. The move is part of broader efforts targeting Havana's military-controlled economy and could have ripple effects on China-linked battery supply chains.
A British court found Bill Yuen Chung-biu, manager of the Hong Kong Economic and Trade Office in London, and Peter Wai Chi-leung guilty of assisting a foreign intelligence service on Thursday. The two men were accused of conducting surveillance on Hong Kong activists on behalf of Chinese authorities. Their arrests two years ago highlighted the controversial role of Hong Kong's overseas promotion offices globally.
💰 Finance
As the Iran conflict continues and the Strait of Hormuz remains disrupted, shipping volume shocks have replaced transit delays as the primary concern. China's state-backed shipping majors are strengthening long-term contracts and developing multimodal routes to hedge against ongoing global supply chain volatility. The industry faces persistent uncertainty requiring strategic operational adjustments.
Overseas-invested securities firms achieved significant profit growth from their China operations in 2025, with combined net profits reaching 2.65 billion yuan (US$390 million), more than quadrupling year-over-year according to annual reports. While the industry's overall profitability surged due to China's capital restriction relaxation and capital market rebound, individual firm performances showed widening performance gaps and scale disparities.
Malaysia's government announced on Wednesday that from July 1, it will impose strict price controls on imported electric vehicles to protect local car manufacturers. Business experts warn the measure will cause a sharp decline in demand and delay the renewable energy transition. The Ministry of Investment, Trade and Industry's announcement has sparked concerns about policy inconsistency in the nascent EV market.
China's coastal aquaculture ponds are declining due to environmental policies, while India experiences the fastest expansion rate globally, according to satellite imagery analysis. The study compiled data from millions of satellite snapshots of coastal aquaculture worldwide in 2022. Global aquaculture pond area expanded rapidly from 1990 to 2016, then declined after 2017, with varying trends across different countries.
As China prioritizes food security under President Xi Jinping's agenda, a Systemiq report funded by the Gordon and Betty Moore Foundation warns that Beijing is poised to reshape global agricultural commodity supply chains. This potential shift represents a third major economic disruption from China, following the previous "China shock 2.0" affecting Western manufacturers, with significant implications for the global food economy.
Tesla's Shanghai Gigafactory delivered 74,478 vehicles in April, representing a 36% increase compared to the same month in 2025. The figures include both mainland China sales and overseas exports. The growth was driven by local government subsidies and rising demand for electric vehicles amid the global energy crisis, though the company faces increasing competition from local rivals launching new models.
Vietnam's Communist Party General-Secretary and President To Lam has launched administrative reforms targeting 10% annual economic growth through 2030, aiming to reduce bureaucratic obstacles and accelerate stalled projects. However, US tariffs and the fuel crisis pose significant challenges that administrative reforms alone may struggle to overcome, potentially limiting the nation's growth prospects.
S&P Global Ratings warns that Beijing's stricter oversight of automotive price competition will increase borrowing pressure on mainland carmakers and accelerate the exit of financially fragile, debt-laden players amid softening consumer demand. The move may deepen bearish sentiment toward mainland China's 100+ car assemblers, many of which are global leaders in EV technology and production.
US President Donald Trump's landmark visit to China occurs amid US-Iran tensions disrupting global energy supplies and straining Washington-Beijing relations. The visit presents potential opportunities for Boeing to secure a major aircraft order from Chinese airlines, marking the first significant deal in nearly a decade. The analysis examines how geopolitical crises and interdependence are reshaping US-China relations and commercial partnerships.
US President Donald Trump announced Thursday that the European Union must ratify their trade agreement by July 4 or face significantly higher tariffs. Trump stated he discussed the matter with EU chief Ursula von der Leyen and agreed to extend the deadline until America's 250th birthday, warning that tariffs would immediately increase substantially if the agreement is not ratified by then.
💻 Technology
China and the United States are intensifying their competition in the artificial intelligence sector. At a technology industry honors ceremony in New York City, Nvidia founder Jensen Huang highlighted that engineers have been central to every industrial revolution, from steam power to electricity to information technology, with AI representing the next critical frontier. This competition involves the struggle for global technological dominance.
Chinese EV maker Leapmotor has agreed with shareholder Stellantis to establish a production line at the Figueruelas plant in Zaragoza, Spain. The facility will jointly manufacture Opel's fully electric C-sport SUVs and B10 models, marking a significant step in Leapmotor's European localization strategy and enabling cost-effective production for EU customers.
Chinese AI company DeepSeek is expected to complete its first external financing round soon, reaching a valuation of up to US$50 billion. The round is backed by state-linked investors, including AI-focused entities under China's Integrated Circuit Industry initiative. DeepSeek is regarded as a national technology champion, reflecting China's strategic support for domestic AI development.
Chipmaking giant Nvidia is deepening its partnership with US fiber optics maker Corning to replace copper links in next-generation AI systems. This collaboration underscores mainland China's dominant role in the global optical communications supply chain. China's domestic optical value chain is increasingly focusing on AI applications, establishing itself as the global foundation for high-capacity components essential to powering AI infrastructure.
China's Civil Aviation Administration has issued licenses to four domestically trained commercial airship pilots, marking a significant milestone in the country's growing low-altitude economy. The state-owned Aviation Industry Corporation of China stated that this achievement addresses a critical talent shortage in the sector and fills a long-standing gap in pilot certification.
Morgan Stanley analysts report that China will leverage the humanoid and robotics market to consolidate its global manufacturing dominance. The report indicates that over the next 5 to 10 years, humanoids and robots will become key drivers of China's export machinery, following a development trajectory similar to China's rise in the electric vehicle sector.
🌏 International
Wei Fenghe and Li Shangfu, former Chinese defense ministers, were sentenced to death with a two-year reprieve by a military court on the 7th for corruption-related charges. This represents the heaviest sentence imposed on senior military officers during Xi Jinping's anti-corruption campaign, reflecting strict Party discipline enforcement in the military.
U.S. President Trump is scheduled to visit Beijing on May 14-15 for a two-day summit with Chinese President Xi Jinping. This meeting represents one of the most significant high-level U.S.-China diplomatic engagements during Trump's second term, testing the personal diplomatic relationship the two leaders have cultivated over years amid evolving international circumstances.
Security researchers discovered that hackers exploited AI models from Anthropic and OpenAI to attack Mexico's water and drainage systems. This incident marks an escalation from traditional corporate IT attacks to critical infrastructure targeting, raising significant concerns about AI security safeguards and potential risks to essential services.
On May 7, security firm Ivanti announced five high-risk vulnerabilities in its Endpoint Manager Mobile (EPMM) platform. Notably, CVE-2026-6973 has been actively exploited in real-world attacks. The vulnerabilities affect EPMM versions below 12.8.0.0. Ivanti has released patched versions 12.8.0.1, 12.7.0.1, and 12.6.1.1 for users to deploy.
Nvidia CEO Jensen Huang announced multi-billion dollar prepayment to Corning for building new U.S. factories to expand fiber optic and optical connectivity component production. The funding is separate from this week's equity investment announcement. The collaboration is expected to create thousands of jobs and strengthen the AI data center supply chain.
According to sources, a key company behind Thailand's national AI initiative allegedly assisted in smuggling billions of dollars worth of Supermicro servers containing advanced Nvidia chips to mainland China, with Alibaba among multiple end customers. The case involves illegal export of high-tech products and raises concerns about international trade controls enforcement.
US law enforcement is investigating the smuggling of advanced NVIDIA chips worth billions of dollars. According to sources, a company linked to Thailand's national AI initiative allegedly helped smuggle US supercomputers equipped with NVIDIA chips through Thailand to Chinese company Alibaba. The case involves violations of US export controls and national security concerns.
Security researcher Hyunwoo Kim has disclosed the Dirty Frag vulnerability chain affecting the Linux kernel. The flaw impacts all major Linux distributions, allowing low-privilege accounts with code execution capability to obtain root access. Third parties released exploit code and vulnerability details before vendors issued patches and CVE assignments were completed, forcing researchers to disclose full technical information prematurely.
Chinese navigation application Amap has gained rapid popularity in Taiwan due to features like precise traffic light countdown displays. However, concerns have been raised regarding its data sources and personal information collection methods. Taiwan's government is evaluating potential security risks related to user call records and personal data collection.
Allergan Medical Beauty Group is embroiled in a hidden camera scandal at its clinic. The company's CEO Chang Rushan, an executive assistant, and an engineer face charges for illegally recording customers' privacy. The court ordered their detention without bail, citing concerns about evidence tampering and flight risk. The case involves sexual images of minors, raising serious privacy protection issues in the medical aesthetics industry.
Taiwan's Legislative Yuan passed the Special Military Procurement Act today, reducing the budget ceiling from 1.25 trillion to 780 billion Taiwan dollars, a 37% decrease. Democratic Progressive Party spokesperson Li Kunzheng expressed regret, arguing the move ignores international warnings and defense needs, potentially weakening Taiwan-US relations and risking cancellation of the HIMARS rocket system deal due to payment delays.
Taiwan's Legislative Yuan passed the "Special Act for National Security Protection and Asymmetric Warfare Capability Enhancement Plan Procurement." The first batch of military purchases has a budget ceiling of NT$30 billion, while the second batch is capped at NT$48 billion, totaling NT$78 billion. The Executive Yuan must submit a special report within one month of the act's passage, requiring Legislative Yuan approval before budget compilation, with submission to the legislature within two months.
Oil prices surged following a military confrontation between US and Iranian forces in the Strait of Hormuz. WTI crude climbed 4% to approach $99 per barrel, while Brent crude closed around $100. The US Central Command stated it intercepted Iranian attacks and conducted defensive strikes, though emphasized no intent to escalate. President Trump warned of stronger retaliation if Iran fails to sign an agreement soon. The strait has been effectively blockaded since late February, disrupting global energy supplies.
U.S. President Trump will visit China for a two-day summit with President Xi Jinping, marking the first visit by a sitting American president in nearly a decade. The two leaders, both over 70 and born a day apart, have met at least six times over the past decade. While both emphasize their personal diplomatic relationship, tensions over trade, Taiwan, and technology continue to escalate, reflecting intensifying U.S.-China competition.
According to sources, US prosecutors allege that Bangkok-based OBON Corp. helped smuggle approximately $2.5 billion worth of Supermicro servers containing Nvidia chips to China, with Alibaba as a major customer. The case involves Supermicro's co-founder collaborating with Southeast Asian companies and multiple brokers in violation of US trade regulations. The March indictment triggered a significant stock decline for Supermicro, marking the most serious chip smuggling case since the US restricted Nvidia sales to China in 2022.