Daily Buzz: 9 February 2026

China Successfully Launches Reusable Spacecraft

China successfully launched into orbit an experimental reusable spacecraft aboard a Long March-2F carrier rocket on Saturday, Xinhua news agency reported. Reusable craft have become a key focus in aerospace development because they reduce costs and lessen relaunch timetables. It was China's fourth launch of a reusable spacecraft since 2020. Currently, only China and the US have reusable spacecraft. The latest Chinese spacecraft, dubbed "Divine Dragon" by mainland space aficionados, is a potential rival to the US X-37B. Xinhua, calling the launch an "important breakthrough, said the craft is designed to provide technical support for "the peaceful use of outer space." The US and China are also in a race to develop reusable rockets for use in launches of orbital constellations of communications satellites and internet data centers.

Japan's Prime Minister Wins in Election Landslide

Prime Minister Sanae Takaichi's Liberal Democrat Party is projected to have won Sunday's snap parliamentary election by a landslide, according to public broadcaster NHK. Exit polls showed her party taking two-thirds of seats in the lower house, giving Japan's first female prime minister a strong mandate just four months after she took office. The big win is attributed to her personal popularity and a flamboyant style unlike predecessors. Sanae espouses bigger government spending, lower taxes and a stronger military.

Thai Prime Minister Heads for Election Victory

Thai Prime Minister Anutin Charnavirakul claimed victory in Sunday's general election. With 90 percent of the vote counted, his conservative Anutin's Bhumjaithai party is projected to win 194 seats in the 500-seat parliament, with the reformist People's Party in second place with 116 seats. That means Anutin will have to cobble together another coalition government.

US Said to Set June Deadline to End Ukraine War

Ukrainian President Volodymyr Zelensky said the US set a June deadline for an agreement on ending the four-year war with Russia. Trilateral talks toward that goal resume are scheduled to resume this week. Deadlines have come and gone in pursuit of peace. Even before taking office last year, US President Donald Trump promised to end the war within 100 days of his inauguration. A peace accord hinges on settling territorial disputes in a possible carve-up of eastern Ukraine. Meanwhile, Russia again launched heavy airstrikes on Ukraine's power infrastructure over the weekend, creating further misery for residents enduring winter cold without heat or electricity.

Fair Game? Sports and Politics at the Olympics

Italian police in riot gear fired tear gas and water cannon at protesters who threw firecrackers, smoke bombs and bottles at them near the ice hockey rink at the Winter Olympics venue in Milan. An estimated 10,000 people took to the streets of the city on Saturday to protest the environmental and economic cost of the event. Although the Olympic Games are supposed to be above politics, they are often lightning rods for dissent. Italian authorities earlier said sabotage on the nation's northern railway network led to travel disruptions that affected some Olympics venues. At the games' opening ceremony on Friday night, US Vice President JD Vance was booed when he was shown in attendance on a big stadium screen. Italians have reacted badly to the announcement that agents from the US Immigration and Customs Enforcement – the agency responsible for contentious deportations of immigrants from America and the shooting deaths of two protesters in the state of Minnesota – would be at the games to support US athletes.

Top Business

China Solar Panel Installations May Drop in 2026

China's solar power installations may tumble this year amid new government policies aimed at regulating the sector and introducing stable pricing, Yicai Global reported, citing the honorary chairman of the China Photovoltaic Industry Association. Wang Bohua told an association conference that the nation may add up to 240 gigawatts of new installations this year, compared with a record 315 gigawatts in 2025. But he said installations will return to a more normal trajectory by 2030. Governance in the solar panel industry, which has suffered from self-defeating price wars for several years, will be key in 2026, Wang added. Lin Boqiang, director of the China Center for Energy Economics Research at Xiamen University, said that China's solar power industry is on the cusp of a historic transformation. China is a world leader in solar power technology, boasting a system where capacity and output in core chain links exceed 90 percent of the global total.

Luckin Moves Up the Coffee Chain

Luckin, China's largest coffee chain that made its name selling low-priced beverages, is moving up the value ladder with the opening of a new flagship outlet in Shenzhen that sells premium drinks. The move is a challenge to Starbucks, a chief rival in China. The new ship has bumped up prices beyond the typical costs of US$1 or US$2 for standard brews, CNBC reported. Customers can choose beans from Brazil, Ethiopia or China's Yunnan province. The outlet also offers specialty drinks such as a "tiramisu latte" with a pastry on top. The move into a more premium end of the market reflects rising competition from domestic competitors in budget-coffee retailing. Luckin surpassed Starbucks in number of outlets in 2024. The company said the new shop is its 30,000th store, including several outlets overseas.

Listed Aier Eye Hospital Linked to Insurance Scandal

Shares of Aier Eye Hospital Group fell after the chairman of the Chinese ophthalmology chain was reportedly connected with several psychiatric hospitals involved in an alleged fraud related to the national medical insurance fund. Beijing News last week published an investigative report claiming that several psychiatric hospitals in the central China cities of Xiangyang and Yichang were admitting non-psychiatric patients and fabricating their medical conditions. Jiemian News reported on Friday that Hengtaikang Hospital in Xiangyang is controlled by Aier Chairman Chen Bang, who also holds controlling stakes in 20 other psychiatric institutions through his 80 percent-held Aier Medical Investment. The investment fund, it said, is Aier Eye Hospital's largest shareholder with a 34 percent stake. Shares in Aier plummeted 3.8 percent on the Shenzhen stock exchange.

China Launches Distress-Message Service Using Satellites

China has launched a new short messaging service based on the Beidou Navigation Satellite System, providing reliable communications when ground-based mobile networks are unavailable for use in distress situations that may occur in remote mountains, at sea or in emergency disaster response. China Space-Time Information, the operator of Beidou services, has collaborated with China Mobile, China Telecom and China Unicom to enable paying users to access the Beidou-based short messaging satellite service if their mobile phones support the function.

Economy & Markets

China Continues to Increase Gold Reserves

China's central bank in January bought more gold for a 15th straight month, according to data released by the People's Bank of China on Saturday. The nation's gold holdings rose to 74.19 million troy ounces valued at US$370 billion at the end of January, up from 74.15 million ounces in December. Gold prices have been volatile, dropping from a record near US$5,600 an ounce in January to as low as US$4,403 last week. Prices rebounded to US4,960 on Friday. Gold is included in China's foreign-exchange reserves, which rose to a decade high of near US$3.40 trillion in January, up by 1.23% from December.

Crypto Exchange Mistake Triggers Bitcoin Plunge

Bithumb, South Korea's second-largest cryptocurrency exchange, said it accidentally transferred US$44 billion worth of bitcoin to customers during a promotional event, prompting a sharp selloff on the platform. The error occurred on Friday, when users who were supposed to receive small cash rewards instead received at least 2,000 bitcoins each, media reports said. Bithumb said 695 customers were affected. The exchange said it recovered 99.7 percent of the mistakenly distributed 620,000 bitcoins within hours and quickly restricted trading and withdrawals for affected accounts. It added that the incident was not caused by hacking or security breaches. Bitcoin prices on Bithumb briefly fell 17 percent to 81.1 million won (US$50,000) before recovering to about 104.5 million won.

China Imposes New VAT Rules on Pre-Paid Services

Chinese authorities are introducing new value-added taxes rules on businesses that collect payments before providing services in a move that will require firms to pay tax more promptly. The targets are a range of service industries spanning property management, education, beauty salons and gyms. The new VAT rules were released by the Ministry of Finance and the State Taxation Administration. In the past, such companies didn't have to pay taxes immediately on collection of advanced payments.

EU Raises Tariffs on Chinese Kitchenware

The EU increased anti-dumping tariffs on Chinese imports of ceramic plates and other table and kitchenware. The27-member bloc said it will apply blanket duties of 79 percent, replacing earlier tariffs of between 13 percent and 36 percent. The EU said the wares receive production subsidies in China, hurting European companies.

Corporate

Chery Revives QQ With Electric Hatchback

China's Chery Automobile has revived its iconic QQ brand, unveiling the all-new QQ3 electric hatchback as it looks to strengthen its position in the crowded small-car market. The QQ3 offers a driving range of 280 kilometers to 401 kilometers. Pre-orders have opened, with deliveries scheduled for late March, the company said. First launched in 2003, the original Chery QQ became one of China's best-known entry-level cars, selling more than 1.5 million units globally before production ended in 2014. Chery said the new QQ3 focuses on electrification and smart driving features, and fills a gap in the carmaker's lineup.

Audi Q2Ls Made in China Subject to Recall

The FAW-VW joint automaking venture in China has recalled 206,012 Audi Q2L vehicles manufactured on the mainland between August 2018 and January 2025. The recall relates to body panels coming loose. China's State Administration for Market Regulation said in a statement that adhesives applied to bond the outer panels could deteriorate under "long-term high temperature and humidity conditions."

Honor Ranks First in Growth of Global Phone Shipments

Chinese tech company Honor ranked at the top of the 10 biggest smartphone makers in terms of growth in global shipments in 2025, research firm Omdia reported. The Futian-based company's shipments last year increased11 percent from a year earlier, comprising about a 6 percent global share of a market dominated by Apple and Samsung. Honor has invested heavily in key areas such as imaging, AI and battery technology. The former subsidiary of tech giant Huawei makes smartphones, tablet computers and wearable digital devices.

Lincoln Sales in China Fall Fourth Year

Lincoln's China sales fell for a fourth consecutive year in 2025, highlighting mounting challenges for the US luxury brand amid slowing demand and intensifying competition. According to data cited by local auto platforms, Lincoln sold 36,255 vehicles, down more than 30 percent from a year earlier. Sales were largely driven by the Nautilus SUV and the Lincoln Z sedan, which together accounted for about 83 percent of total deliveries. The decline follows a peak of more than 90,000 cars sold in 2021. The marque currently sells four models in China.

Kuaishou Fined Over Platform Failures

Popular short-video platform Kuaishou has been fined 119 million yuan (US$17 million) by China's cyberspace regulator for failing to address system flaws or remove illegal content in a timely matter. China has been cracking down on what it calls bad behavior in the internet industry.

Estee Lauder Sales Driven by China Gains

US-based cosmetics giant Estee Lauder said revenue in its fiscal second quarter rose 6 percent to US$4.2 billion, driven by a 13 percent surge in China sales, the second straight quarter of double-digit mainland gains. Quarterly earnings surged 43 percent.

WeRide, Uber Target 1,200 Robotaxis in Middle East

China's WeRide and US-based Uber announced they will expand their robotaxi venture to deploy at least 1,200 self-driving cars across Abu Dhabi, Dubai and Saudi Arabia, with rollouts to be completed as early as next year.