Daily Buzz: 5 December 2025

Xi, Macron Seek Closer Ties in Beijing Tête-a-Tête

Chinese President Xi Jinping told visiting French President that both countries, in face of a rapidly changing world environment, should "demonstrate their responsibility, uphold multilateralism and stand on the right side of history." Macron urged Beijing to exert pressure on Russia to agree to a ceasefire in Ukraine, and Xi told Macron that China has always supported constructive efforts to end the war. Their talks in the Chinese capital centered on trade and commercial ties.

Bilateral trade between China and France rose 4.1 percent in the first 10 months of the year to US$69 billion, the Ministry of Commerce said on Thursday. Xi told Macron that their two countries should consolidate cooperation in traditional fields such as aviation, aerospace and nuclear energy, and tap into the potential of new fields such as the green technologies, biopharmaceuticals and artificial intelligence. Macron said the two countries have identified "a path to convergence" on certain issues, while admitting there may be disagreements to overcome. Areas of tension include China's duties on imports of EU brandy, which mostly affect France, and still pending approval of a Chinese order for 500 Airbus jetliners. In turn, Beijing is unhappy about EU tariffs on Chinese-made electric cars as domestic automakers seek to penetrate the European market.

Putin Stresses Resolve to Take Ukrainian Territory

Russian President Vladimir Putin, on a visit to India, doubled down on comments he made last week vowing to seize Ukraine's eastern Donbas region by military force if Kiev doesn't surrender it. Russian troops now occupy 85 percent of the region. "Either we take back these territories by force, or eventually Ukrainian troops withdraw," Putin told India Today. His comments came just days after five hours of futile talks in Moscow between Putin and US negotiators on the latest peace proposals. The search for an end to the nearly four-year war shifted back to the US, where special envoy Steve Witkoff was scheduled to meet Ukrainian negotiator Rustem Umerov in Miami on Thursday.

President Donald Trump earlier said his negotiating team believes Putin genuinely wants to end the war, contrary to the opinion of European countries, who say Moscow has shown no signs of compromise on its hardline demands for surrender of territory and no Western security guarantees that might put European boots on the ground in Ukraine.

Top Business

Hikvision Takes Legal Action Against US Ban

Hangzhou-based Hikvision, a manufacturer and supplier of video surveillance equipment for civilian and military use, said on Wednesday its US arm has filed a legal challenge to a US Federal Communications Commission rule blocking the import or sales of devices containing parts from companies on its list of companies deemed national security risks. Hikvision said the commission exceeded its authority in making the ruling, Reuters reported. Included on the blacklist are Hikvision and other technology companies, including Huawei, ZTE, China Mobile and China Telecom. Hikvision said it is taking legal action protect its market rights and lawful business. Among the devices affected by the ban are home security cameras and smartwatches.

Li Auto Enters AI Glasses Market

New energy vehicle maker Li Auto unveiled its first artificial-intelligence smart glasses, priced at 1,999 yuan (US$283). The Livis glasses feature an AI assistant and nearly 19 hours of battery life. AI glasses are considered the next big consumer trend after smartphones. Chinese tech giant Alibaba released its first AI glasses last week in a market where Meta, Samsung, Google and Apple are competing.

Huawei the Leader in China's Tablet Market

Huawei took top spot in China's tablet market in the third quarter as Apple sales of iPads dropped 14 percent from a year earlier, according to Omdia. The overall market rose 9 percent in the quarter to nearly 9 million units. Huawei shipments rose 21 percent to 2.7 million units. That was followed by Apple, with 2 million; Xiaomi and Lenovo, with about 900,000 units each: and Honor, with 600,000. Analysts attribute a decline in Apple's market share to increasing domestic competition on price and innovative features. Omdia forecasts tablet sales will moderate next year.

Economy & Markets

A New Smartphone or Computer Will Cost You More

Soaring prices for memory chips triggered by heavy demand from memory storage systems used in advanced artificial intelligence technologies are driving up the cost of consumer electronics like smartphones and computers that also use the chips. Prices for recently released smartphones in China are selling up to 300 yuan (US$42) higher. Ni Huangzhong, chairman of Shenzhen-based Shichuangyi Electronics told Yicai Global that consumers who want to buy smart devices should do so quickly prices before prices "skyrocket."

China Natural Uranium Has Strong Trading Debut

China National Uranium's shares soared nearly fourfold from their offer price on the first day of trading on the Shenzhen stock exchange this week. The Beijing-based natural uranium miner, the first Chinese company of its kind to go public, raised 4.4 billion yuan (US$628 million) in the IPO, with the proceeds earmarked for expanded operations. The company focuses on mining, smelting and sales of uranium.

Tariff Restrictions Reach 15-Year High

A surge in new trade restrictions has pushed the value of global imports affected by tariffs to their highest level in more than 15 years, the World Trade Organization said in an annual review. In the month ended mid-October, goods valued at US$2.64 trillion were hit by new tariffs or other restrictive measures, four times greater than a year earlier and equal to 11 percent of global imports. WTO Director-General Ngozi Okonjo-Iweala said rising trade restrictions reflect accelerating protectionism.

Corporate

TikTok to Build Data Center in Brazil

TikTok, the social media platform of Beijing-based ByteDance, will invest US$38 billion to build a data center in Brazil, its first major project in Latin America, Bloomberg News reported. It will partner with Omnia and Casa dos Ventos, one of Brazil's leading renewable energy providers. The project will fully rely on wind power. China is Brazil's largest trading partner.

JD.com Secures Majority of Ceconomy

China's JD.com completed its 2.2 billion euro (US$2.6 billion) takeover of Germany's Ceconomy, Europe's largest consumer electronics chain, strengthening its push into overseas markets amid intensifying domestic competition. The Beijing-based e-commerce group said it now holds 59.8 percent of Ceconomy's share capital. Shareholder Convergenta, controlled by the Kellerhals family, retains about a 25 percent stake. The deal will be finalized next year following regulatory approval.

Eswin Plans New Silicon Wafer Factory

Xi'an-based Eswin Material Technology, the largest mainland producer of 12-inch semiconductor silicon wafers, said it will build a new 12.5 billion yuan (US$1.8 billion) wafer plant in the city of Wuhan. Plans call for the factory to have a planned monthly capacity of 500,000 wafers used in advanced integrated circuitry. Eswin raised 4.5 billion yuan in an initial public offering on Shanghai's STAR market in October.

Tiantu Capital to Sell Stake in Yoplait China

Tiantu Capital said it plans to sell its 44 percent stake yoghurt maker Yoplait China to venture capital firm Kunshan Nuoyuan Ruiyuan Management Consulting for 814 million yuan (US$115 million), resulting in an 847,000 yuan loss on its investment. Other owners with a combined 42 percent stake will sell their holdings for an aggregate 751 million yuan, Yicai reported. China's yogurt market has remained weak since the coronavirus pandemic, and Yoplait China's market share has been shrinking amid rising domestic competition. The Yoplait brand is controlled by the eponymous French dessert company.

Robotic Street Cleaners Deployed in Shenzhen

Cowa Robot deployed 36 driverless sanitation vehicles to clean streets and sidewalks in a district of Shenzhen. The robotic cleaners activate when they detect fallen leaves, other debris or trash on a street. Each robotic cleaner can reduce needed manpower by three to five people. The company said local governments are its main customers.