Daily Buzz: 18 June 2025

Top News

China urges ceasefire in Israel-Iran conflict, Trump demands surrender

As the Israel-Iran war entered its fifth day, Chinese President Xi Jinping, attending a Central Asia summit in Kazakhstan, said China is "deeply concerned" about the escalation of tensions and Beijing is willing to "play a constructive role" in restoring peace, according to state news agency Xinhua.

The Foreign Ministry said a ceasefire is urgently needed. The Chinese Embassy in Israel urged Chinese citizens to leave the country "as soon as possible" amid continued aerial bombardment of cities.

There was no talk of peace in the US, where media reported that President Donald Trump is considering the US joining Israel in striking Iranian nuclear sites. Trump demanded an unconditional surrender by Iran and issued a veiled threat against the nation's leader Ayatollah Ali Khamenei: "Our patience is wearing thin. He is an easy target … but we are not going to take him out, at least not for now."

Up to 30 US military aircraft have been moved from bases in America to Europe, the BBC verified.

Escalating tensions came despite testimony before Congress earlier this year by National Intelligence Director Tulsi Gabbard that there is no evidence Iran is building a nuclear weapon.

With no signs of peacemaking efforts, US and European stock markets tumbled. Crude oil jumped 5 percent.

More violence at Gaza food sites

Israel's war against Iran hasn't stopped violence in Gaza. On Tuesday, Israeli tanks fired into a crowd of thousands of Palestinians trying to get aid from food trucks, killing at least 59 people and wounding 220, according to local medics. It was one of the single bloodiest days yet in violence related to aid distribution. Israel's military said it was aware of the reports and investigating them. At least 14 other Palestinians were killed by Israel forces in airstrikes elsewhere in the coastal enclave.

Top Business

Industrial reform nears finish

China's push to reform its state-owned companies by the end of 2025 is 80 percent complete, the Assets Supervision and Administration Commission said on Tuesday. The reforms include industrial upgrading and application of new technologies.

Comac seeks C929 parts suppliers

The Commercial Aircraft Corp of China, the nation's major manufacturer of civilian aircraft, said it has reached agreement with French aerospace firm Safran and US-based Crane Aerospace and Electronics for China's first widebody aircraft, the C929. The announcement came during the Paris Air Show.

Jetliner promotes Legoland

A Juneyao Airlines jetliner with Legoland livery flew on its maiden flight to Guangzhou from Shanghai on Monday. The Airbus A321 craft operated by the Chinese airline also carries the theme in interior décor. The airline is promoting China's first Legoland theme park, due to open in Shanghai next month.

Wuhan robotics fund

Wuhan, capital of Hubei province, created a 1 billion yuan (US$139 million) fund for development of humanoid robots. The city has built a center for robot technology in the Donghu New Technology Development Zone. Robot research companies will be eligible for subsidies of up to 20 percent on development costs.

Economy & Markets

Regencell shares skyrocket

Shares of Regencell Bioscience, a Hong Kong-based startup that has developed traditional Chinese herbal treatments it says can treat childhood ADHD and autism, soared more than 280 percent this week as a 38-for-1 stock split announced earlier in the month took effect. The company, which has no revenue but now a market value of US$36 billion, announced it has received US Federal Drug Administration clearance for a neural chip and Parkinson's trial collaboration with the Mayo Clinic, though neither the FDA nor Mayo confirmed the claims. The stock, which traded for pennies last year, has jumped more than 58,000 percent this year.

Central bank ensures liquidity

China's central bank injected 400 billion yuan (US$56 billion) of funds into the banking system in a second round of reverse repurchase agreements this month, The People's Bank of China, in a statement, said the operation involved interest-rate and multiple-price bidding. Ensuring liquidity underpins government efforts to keep markets stable during a period of trade tensions and geopolitical risks.

Cross-border capital flows

China's non-banking sectors recorded net cross-border capital inflows of US$33 billion in May, according to the State Administration of Foreign Exchange. Lin Bin, deputy head of the administration, said the figure reflected high levels of trade and increased holdings of domestic stocks by foreigners.

China, Turkey extend currency swap deal

The central banks of China and Turkey extended a currency swap agreement and established a Chinese yuan clearing system in Turkey to boost bilateral trade and investment. The three-year extension allows for the exchange of up to 135 billion yuan (US$4.9 billion), or 189 billion Turkish lira. The People's Bank of China and the Central Bank of Turkey signed their first swap agreement in 2012 and have renewed it several times.

Corporate

Dongshan Precision to buy Source Photonics

Suzhou-based Dongshan Precision Manufacturing, a manufacturer of printed circuit boards and optoelectronic displays, said it will pay US$687 million to take over Source Photonics Holdings, a global optical parts maker. Source Photonics additionally will issue up to 1 billion yuan (US$139 million) in convertible bonds to Dongshan Precision, with the proceeds to repay debts and fund daily operations. Dongshan shares, listed in Shenzhen, rose 0.7 percent.

Geely chairman raises stake in Sweden's Polestar

Swedish electric-car maker Polestar said it secured a US$200 million equity investment from major shareholder PSD Investment, a company controlled by Li Shufu, founder and chairman of Chinese carmaker Geely, AsianetNews reported. Polestar agreed to sell over 190 million newly issued American depositary shares to PSD at US$1.05 a share. Li already held a majority stake in Polestar, which will be 66 percent after the transaction.

Takeda China CEO exits

Sean Shan, president of China operations for Japanese pharmaceutical giant Takeda, will step down by the end of June and is expected to join China biotech BeiGene, according to Chinese financial media reports on Tuesday. Liu Yan, current vice president and head of gastroenterology at Takeda China, has been appointed acting president. Shan joined Takeda in 2017.

Huawei, ByteDance explore Brazil business

Huawei Technologies and ByteDance are planning major investments in Brazil's cloud infrastructure and artificial intelligence sectors, the South China Morning Post reported, citing a Sao Paolo newspaper. Huawei is in talks with Brazilian state-owned data services company Dataprev and Edge UOL, a cloud services company.

ByteDance is considering several data center projects, including a 300-megawatt facility with renewable energy provider Casa dos Ventos.

The ventures follow an agreement on closer commercial ties signed last year when Chinese President Xi Jinping visited Brazil.

Faster Internet speed in Shanghai

China Mobile, the world's biggest mobile carrier, has deployed 20,000 advanced 5G-A base stations in Shanghai, extending coverage to 99 percent of the downtown area. 5G-A promises up to 10 times faster Internet access than current 5G systems.

Wanda to upgrade Imax screens

Chinese movie-house chain Wanda Film said it will replace 27 Imax screens in China with newer, larger versions. Wanda operates about half of the 800 premium screens Imax China Holding has installed in the country. Imax venues drew a record 22 million moviegoers in the first five months of this year, thanks largely to the success of the fantasy box-office hit "Ne Zha 2."