Daily Buzz: 14 April 2026

US Begins Blockade of Iranian Ports, Tehran Remains Defiant

The US blockade of Iranian ports along the Strait of Hormuz began, with President Donald Trump saying all ship traffic will be subject to scrutiny. The blockade is aimed at wresting control of the vital waterway from Iran and blocking its ability to continue shipping oil. He said the blockade will continue until Iran agrees to end its nuclear ambitions. Trump threatened to blow up any Iranian ships trying to approach the blockade. Iran called the blockade as "ridiculous and laughable," warning any US ships will be "sent to the bottom of the sea." Maritime data firm Lloyd's List Intelligence said all traffic through the Strait of Hormuz stopped after Trump announced the US blockade of the waterway that normally carries a fifth of the world's oil and liquefied natural gas.

The blockade came after weekend talks between the US and Iran in Pakistan collapsed. The New York Times reported that Iran had agreed to suspend uranium enrichment for up to five years, while the US side insisted on at least 20 years. NATO allies said that they will not join efforts to keep the strait open until the fighting ends.

China's Foreign Ministry on Monday urged "all parties to resolve disputes through political measures, avoid a return to hostilities and create conditions to restore peace in the Gulf area." UN Secretary-General António Guterres urged the US and Iran to resume negotiations to end the war after almost seven "weeks of destruction and distress." Pope Leo XIV said he will continue to speak out against the war after Trump attacked him as "weak" and "terrible." The pontiff had accused the US and Israel of a "delusion of omnipotence" in the war and rebutted Trump administration claims that God is on the side of America. Trump on Monday deleted an AI-generated online image depicting himself as Jesus after a backlash.

Saudi Arabia's crude sales to China are set to halve next month as the war in the Middle East disrupts flows, Bloomberg News reported. The world's biggest oil exporting nation is poised to ship around 20 million barrels of oil to customers in China in May, unidentified traders said. Saudi Arabia said it has repaired damage to its east-west oil pipeline caused by Iranian attacks. The pipeline allows the country to shift some oil from a port on the Persian Gulf to a Red Sea terminal. Global oil prices hovered around US$100 a barrel.

Russian Foreign Minister Visits China

Russian Foreign Minister Sergey Lavrov begins a two-day visit to China today at the invitation of Chinese Foreign Minister Wang Yi. The two will discuss coordination of positions on development of bilateral relations and international and regional issues of common concern.

Top Business

Geely Unveils AI 'Turning Point' in Car Industry

Geely Auto launched its i-HEV Intelligent Hybrid system, aiming to challenge the dominance of Japanese automakers in the conventional hybrid-vehicle segment by improving fuel efficiency and intelligence capabilities, Reuters reported, citing a company statement. The system integrates an AI-driven energy management platform that analyses real-time environmental conditions such as temperature, humidity and altitude to help boost energy efficiency. "Geely's launch marks a key turning point for the industry," Yale ‌Zhang, ⁠managing director at Automotive Foresight in Shanghai, was quoted as saying. Geely said a road test with an Emgrand model equipped with the system recorded fuel consumption of 2.22 liters ⁠per 100 kilometers, which it said set a new Guinness World Record. The system's onboard computing power is not yet matched by Japanese hybrid models, the company. The new system will be rolled out this year in several Geely models including the Preface, Monjaro, Starray and Emgrand.

Victory Giant Seeks IPO to Cash In on AI Market Craze

China's Victory Giant Technology, a supplier of printed circuit boards to US chip giant Nvidia, began its quest for a secondary listing in Hong Kong on Monday, seeking to raise up to HK$17.5 billion (US$2.2 billion) in what would be the city's largest IPO this year, the South China Morning Post reported. The company is hoping to cash in on the investor frenzy for stocks related to the rapid growth of AI infrastructure. The circuit boards play an essential role in the complex interconnections used in advanced AI servers and data centers. Victory Giant's Shenzhen-listed shares have surged more than 318 per cent in the past 12 months.

Jiangxi Redboard Technology, another domestic circuit-board supplier, listed in Shanghai last week, raising 1.8 billion yuan (US$263 million). Another Chinese supplier to Nvidia, Zhongji Innolight, was reported in early April to have submitted a confidential application to list in Hong Kong, aiming to raise at least US$3 billion.

China Expands Legal Arsenal Against Long-Arm Jurisdiction

Chinese Premier Li Qiang has signed a State Council decree to release a new set of rules on countering foreign states' unlawful extraterritorial jurisdiction measures. It includes establishing a coordinated system across government departments to identify and respond to harmful extraterritorial jurisdiction and prohibiting organizations and individuals from complying with improper foreign measures. The decree introduces a "malicious entity list" for those driving such measures and a "prohibition order" system to block their execution. It also allows Chinese parties to sue for damages in Chinese court if their interests are harmed by compliance with foreign mandates. This framework strengthens China's legal "toolbox" to counter foreign sanctions and maintain an international order based on international law.

China Issues New Rules on Livestream Tipping

China is tightening the screws on livestream tipping, a practice whereby users reward favorite online streamers. New rules require platforms to provide clear tipping rules to users and alert users when they tip. They prohibit children under eight years old from tipping, require parental consent for users aged eight-16, and require either guardian consent or proof of income from those between 16 and 18. Tipping is a major source of income for many livestreamers.

A Race to the Finish in Humanoid Robot Development

Twenty-one Chinese humanoid robots joined 12,000 runners at a half marathon in Beijing, the first time machines have raced alongside humans on a 21-kilometre course. The winner in the robot category was Tiangong Ultra, developed by the Beijing Innovation Center of Human Robotics, in a time of two hours and 40 minutes. That compared with the human race winner, who finished the course in a time of one hour, two minutes. Adding to the color of the high-profile promotion of China's prowess in development of embodied robotics, a few of the mechanical competitors wore running shoes, one sported boxing gloves and another wore a red headband with the words "bound to win." One robot fell at the starting line and another crashed into a railing.

Economy & Markets

China Moves Up Ranks of Foreign-Investment Confidence

China moved up two spots to fourth place in US consulting firm Kearney's latest ranking of the top global destinations for foreign investment. The US ranked first on the foreign-direct investment index, with Canada second and Japan third. China, however, was tops among emerging markets for a third year running, "China's leadership in AI, along with the scale of its domestic market, are highly appealing to foreign investors," said Sherri He, managing director of Kearney China. The index was compiled from the responses of 500 senior executives at global corporations with annual revenues of more than US$500 million. Eighty-eight percent of respondents said they plan to increase foreign direct investment in the next three years, up from 84 percent last year.

Chinese Stocks Rise on Battery-Related Shares

Chinese mainland stock markets closed higher on Monday on gains in stocks related to battery-making and energy storage. The Nasdaq-style ChiNext Index rose 0.8 percent to a record, the Shanghai Composite Index edged up 0.06 percent, and the Shenzhen Component Index climbed 0.7 percent, Shares of Contemporary Amperex Technology (CATL) jumped 2.7 percent ahead of the company's first-quarter earnings report due out on Wednesday.

Propylene Oxide Prices Surge

China's propylene oxide prices have surged more than 60 percent in just over a month, driven by rising feedstock costs, downstream demand and tight supply, industry data showed. Prices reached around 13,300 yuan (US$1,950) per ton as of April 10. Up to 70 percent of all propylene oxide is converted to the building blocks of polyurethane plastics. Other industrial uses include the preparation of biological samples for electron microscopy. Chinese producers, including Qixiang Tengda and Befar Group, said margins have improved significantly, as companies ramp up output to meet demand, with some facilities running at around 90 percent capacity.

China Has Issued a Fourth of Planned Bonds for Trade-In Program

China has issued 62.5 billion (US$9 billion) in ultra-long, special treasury bonds so far this year to finance the continuation of its program subsidizing purchase costs for consumers who trade in older goods for new ones in designated sectors, the National Development and Reform Commission reported. That's about a fourth of the planned bond issues this year to finance a program aimed at boosting consumer spending.

Corporate

Spanish Prime Minister Visits Xiaomi Campus

Chinese tech company Xiaomi gave Spanish Prime Minister Pedro Sanchez a personal tour of its technology hub in Beijing during his visit to China to improve trade and economic relations. Xiaomi company Chief Executive Lei Jun showed him the latest developments in smartphones, electric vehicles and consumer products like smart glasses. Xiaomi is seeking to strengthen its presence in Europe.

Audi Rolls Out Premium Electric Sedan

German automaker Audi, a subsidiary of Volkswagen, launched the A6L e-tron, luxury electric sedan for the Chinese market, as it joins a host of foreign carmakers trying to regain lost ground in China amid fierce competition from domestic rivals. The new model is manufactured by Audi-FAW in the northeastern city of Changchun, Audi's first China production site dedicated to fully electric vehicles. The new car comes equipped with Huawei's Qiankun smart driving system and boasts a range of up to 815 kilometers. Foreign automakers are shifting focus amid data showing that more than half of China auto sales are new energy vehicles.

Chando Renews IPO Application in Hong Kong

Chando, one of the top five cosmetics brands in China, updated its filing for an initial public offering in Hong Kong five days after its first application lapsed. Its prospectus shows the company had revenue of 5.3 billion yuan (US$780 million) last year and profit of 351 million yuan, after a 59 percent plunge in net income in 2024 when sales expenses eroded profit margins. About 95 percent of the company's revenue comes from its single Chando brand. The company hasn't revealed how much it is seeking to raise in the share sale. French cosmetics company L'Oreal has invested 442 million yuan for a 6.7 percent stake in Chando.