China: Economy

Domestic

Chinese media prominently featured the nation's technological and industrial advancements, including developments in low-power transistors, a robotics hub in Beijing, and Shanghai's economic growth plans. Concurrently, the domestic electric vehicle sector faced challenges, with reports indicating BYD lost its top sales position in China and saw declining sales. New safety regulations for electric cars, including a ban on hidden door handles, were announced. The month also saw a major surge in gold investment and production, with the central bank continuing purchases and significant individual trading activity, contrasted by a sharp downturn in the silver market. In trade policy, China announced it will eliminate tariffs on imports from most African countries starting in May. Separately, China hosted the first senior officials' meeting for its 2026 APEC host year in Guangzhou, focusing on regional cooperation.

International

A U.S. Supreme Court ruling found previous U.S. tariffs unlawful, leading China to call for their cancellation. In related developments, BYD filed a lawsuit seeking a tariff refund, and China announced a ban on hidden car door handles. The United States advanced efforts to form a critical minerals alliance with allies to reduce dependence on China, a move China criticized as an 'exclusive bloc'. U.S. actions also included stalling advanced AI chip sales to China. German Chancellor Friedrich Merz visited China, warning on trade imbalances; the visit resulted in China agreeing to purchase 120 Airbus aircraft. China announced new countervailing duties on EU dairy products, a response to EU tariffs on Chinese electric vehicles. Globally, BYD sold more cars worldwide than Ford. Hong Kong reported a budget surplus and strong economic growth. In other trade developments, the U.S. announced it would not increase tariffs on Chinese goods, while China warned against any new unilateral U.S. tariffs.