Daily Buzz: 30 June 2026

China Expands Export Controls on Defense-Related Technology to Japan

China's Ministry of Commerce added 20 Japanese entities, including the National Institute for Defense Studies and research centers for ground, naval, and air systems, to its export-control list for "dual-use" items that have both civilian and military applications. Another 20 entities, including Mitsui E&S, drone maker Terra Drone, nuclear fuel processors and multiple units of OKI Electric Industry, were added to a watch list requiring stricter export-licensing scrutiny. Earlier this year, China banned dual-use exports to Japan of rare earth elements, permanent magnets and other minerals used in defense technologies, added 20 Japanese major companies to its export-control list and placed another 20 on the watch list. In a statement on Monday, a spokesperson for the commerce ministry said Japan has shown no remorse for its "new-style militarism." The two countries have been at loggerheads since Japanese Prime Minister Sanae Takaichi earlier this year made Taiwan-related marks denounced by China.

US, Iran Disagree on Resumption of Talks

The US said talks on a final peace plan will resume in Qatar; Iran said no negotiations are scheduled. The standoff follows a weekend when both sides violated their June 17 ceasefire in an exchange of attacks related to control of the Strait of Hormuz. The US said maritime shipping can move freely through the waterway; Tehran earlier fired drones at vessels it said were violating its authorized channels of transit, which the US doesn't recognize. The road to peace has been littered with ceasefires and breaches of truces. Benchmark Brent crude futures in late New York trading were priced at US$72.55 a barrel after falling below US$70 last week.

Venezuela Quake Deaths Could Rise to 10,000, UN Says

A strong aftershock rattled northern Venezuela on Monday as the death toll from last week's twin earthquakes rose above 1,700 and the UN said it could climb as high as 10,000. Despite heartening stories of some victims being pulled alive from the rubble in the last five days, hopes of finding more survivors are fading. Many countries have rushed teams, aid and equipment to the country, with China pledging an additional 100 million yuan (US$15 million) in humanitarian aid. However, many Venezuelans are incensed by their own government's weak response to the disaster.

Putin Says Ukrainian Drone Attacks Have Caused Russian Fuel Shortages

Russian President Vladimir Putin has admitted the country is facing fuel shortages following a series of long-range Ukrainian drone strikes on energy infrastructure, though he insisted the Kremlin is dealing with them. The admission during a state TV interview was the first time Putin has publicly discussed the impact of Ukrainian attacks. "All damaged facilities are being restored quite quickly, and the issues that arise are not critical," the Russian leader said.

Europe Heat Wave May Have Killed at Least 1,300

Europe's unprecedented early summer heatwave this month may be responsible for more than 1,300 deaths, as temperatures across the continent set new records, the World Health Organization said. Cities that include Madrid, Paris and Berlin registered temperatures in the 40s Centigrade. Deaths have been attributed to swimming accidents and heat-stress illnesses that particularly affected people 65 years and older. The UN has said that that global warming has increased the severity and frequency of heat waves, particularly in Europe.

Top Business

Samsung, SK Hynix to Invest US$518 Billion in Chip Ecosystem

The South Korean government announced chip giants Samsung Group and SK Hynix will invest 800 trillion won (US$518 billion) to each build two mega semiconductor factories in the southwest of the country as part of a national US$576 billion chip "ecosystem." The government also announced it will invest 30 trillion won over the next 15 years to support the chip value chain, from research and development and chip design to testing and manufacturing. The new project is aimed at cementing South Korea's leading role in global chipmaking, especially in high bandwidth memory for AI processors led by Samsung Electronics and SK Hynix. "We must secure the core elements of AI faster than any other country," President Lee Jae Myung said. His plan also includes measures to accelerate humanoid robot production to counter China's growing dominance in the industry.

China's Momenta Begins Share Sale in HK IPO

China self-driving technology company Momenta Global began taking subscriptions for shares in its HK$5.9 billion (US$751 million) initial public offering in Hong Kong. The company said it is selling 19.9 million shares at HK$295.60 each, with the proceeds to be allocated to boost research and development of AI computing power, data storage and rollout of robotaxi services. Shares are expected to begin trading on July 8. Cornerstone investors include Mercedes-Benz, BlackRock, China's Boyu Capital, Singapore fund GIC and Fidelity, according to the prospectus. Momenta posted a 3.5-billion-yuan (US$509 million) loss for 2025 on an 82 percent surge in revenue to 2.4 ⁠billion yuan.

Other Chinese companies kicking off IPOs on Monday were Eacon, which provides autonomous driving solutions to the mining industry; BASiC Semiconductor, which makes silicon carbide power devices; Reconova Technologies, a visual AI products provider; and DKE Holding, a maker of e-paper display modules.

Separately, shares of three Chinese companies that debuted on the Hong Kong exchange on Monday all closed higher: Baige Online Digital Technology, Alebund Pharmaceuticals and Crealights Technology, with Baige jumping over 3.5 times from its offer price.

LandSpace Completes Key Test for Reusable Zhuque-3 Rocket

Beijing-based commercial aerospace company LandSpace successfully completed a static fire test of its reusable Zhuque-3 carrier rocket on Monday. The Zhuque-3 is a methane-liquid, oxygen-powered launch vehicle designed primarily to support large-scale satellite constellation deployment. LandSpace is seeking to lead in the commercialism of reusable rocket technology, which enables cheaper, more frequent low-orbit satellite launches.

Economy & Markets

Baidu Chip Unit Kunlunxin Heads Toward Hong Kong Listing

China technology company Baidu said its AI chip unit Kunlunxin is targeting an initial public offering in Hong Kong that could value the affiliate at US$50 billion. A confidential application for the IPO has been filed with the city's stock exchange. Following the news, Baidu's Hong Kong-listed shares surged 5.6 percent. Kunlunxin is reportedly gaining commercial traction domestically, with tech giant Tencent already established as a client and talks ongoing with other tech companies.

China Mandates AI Integration in School Curricula

The State Council, China's cabinet, will require integration of AI across all school curricula under a new five-year plan for educational development. The mandate also includes vocational schools. As part of the plan, Beijing intends to expand student enrollment in top-tier universities and establish new research institutions.

Beijing Inaugurates Space Computing Innovation

The Beijing Space Computing Industry Innovation Center on Monday was officially launched, with the mission of adapting and standardizing domestic hardware for aerospace. The center has a founding membership of 108 universities, research institutes and companies.

Corporate

Toyota Motor Posts Fourth Month of Sales Declines

Toyota Motor, the world's biggest automaker, posted a 7.4 percent drop in global sales in May from a year earlier, its fourth consecutive month of declines. The slump hit major markets in the US, Middle East and China, with Chinese mainland sales down 32 percent. That has led to a drop of 5.5 percent in global production.

JD.com Expanding After-Sales Services for Robots

China's JD.com said it has opened robot maintenance services in Europe as robotics sales growth there. Two repair centers have opened in the UK and Germany, and ""robot ambulance" services are opening in Britain, Germany, France and the Netherlands, Yicai reported. Robot after-sales services will eventually be rolled out in the Americas, Asia-Pacific and Middle East.

Vanke Says It Has Negotiated Deals with Creditors of Seven Maturing Bonds

Debt-laden Chinese property developer Vanke said it has completed negotiations on repayment extensions with creditors on seven maturing public bonds so far this year and is in talks on another three. Vanke said it is also pursuing asset disposals. It also reported improvement in the residential property market in parts of China that may help the company stabilize its finances. Vanke has been staving off default with bondholder negotiations and loans from its largest shareholder, Shenzhen Metro.

Forehope to Invest US$1.5 Billion in Integrated Circuit Plant

China's Forehope Electronic said it plans to invest 10.3 billion yuan (US$1.5 billion) to build a new integrated circuit packaging and testing factory. It's the third phase of a 4.5-billion-yuan expansion project in a Sino-Italian industrial park in the coastal city of Ningbo, Yicai reported.

Agibot Hits 15,000-Robot Production Milestone

China robotics startup Agibot said its 15,000th robot rolled off the assembly line. The G2 robot is designed for factory floor operations. Founded in February 2023, the Shanghai-based company took roughly a year to build its first 5,000 robots, reaching 10,000 just three months later. According market research firm Omdia, Agibot led the global market for humanoid robotics market last year with a 39 percent share.

Mixue Expands to Kyrgyzstan

Chinese low-cost beverage franchise Mixue entered the Kyrgyzstan market in Central Asia, with three outlets in the capital Bishkek, 36kr reported. Last year, the company began operations in neighboring Kazakhstan as part of a global expansion that has added the US, Brazil and Mexico.