Top News
China, US end first day of talks, no statements issued
Chinese and US negotiators concluded the first day in a fourth round of trade talks with no word on their progress. The discussions resume in Madrid on Monday. The Chinese delegation led by Vice Premier He Lifeng and the US side led by Treasury Secretary Scott Bessent met for almost six hours on Sunday. The future of the US operations of TikTok, owned by China's ByteDance, is known to be among the agenda items. The US Congress passed a law last year banning the platform in the US if it remains in Chinese hands. Implementation of the law has been delayed three times to see if a US-backed buyer can be found. Before the talks began, China said Friday it is committed to safeguarding the legitimate rights and interests of its companies. China and the US are currently under a 90-day tariff truce that expires next month.
Trump imposes NATO preconditions on stronger Russian sanctions
US President Donald Trump said he's ready to impose stiffer sanctions on Russia over its refusal to negotiate an end to the war in Ukraine but only if NATO countries stop buying Russian oil and gas, and also levy tariffs of up to100 percent on nations that do, principally China. "I am ready to go when you are," he told the 32 members of NATO, mostly Europeans.
In June, the four biggest buyers of Russian oil and gas were China, India, Turkey and the EU, according to the Helsinki-based Center for Research on Energy and Clean Air. EU dependence on Russian energy is expected to fall to 13 percent this year from 45 percent three years ago. The biggest NATO buyers in June were Hungary, Belgium, France, Slovakia and the Netherlands. Trump has already imposed a tariff of 25 percent on India over its Russian energy purchases.
Romania reports Russian drone incursion
Romania says a Russian drone breached its airspace, the second NATO country in a week to report such an incursion. Romania's defense ministry said it detected the Russian drone when two of its F-16 jets were carrying out border patrols. Last week, Poland shot down Russian drones over its airspace. Russia has not commented on either incident.
Arab-Islamic summit to condemn Israeli attack on Qatar
Leaders of Arab and Islamic states meeting in Doha drafted a resolution warning that Israel's "brutal" attack on Qatar last week jeopardizes normalization of ties in the region, Reuters reported. The summit has been convened to respond to Israel's attempt to kill Hamas leaders in the Qatari capital of Doha. The resolution also condemns Israel for genocide and starvation in Gaza.
Meanwhile, the Israeli military destroyed 30 residential buildings in Gaza City as US Secretary of State Marco Rubio arrived in Israel to discuss the conflict and the attack on Qatar, which the US has rebuked in rare criticism of its longtime ally.
World's tallest bridge set to open to traffic in China
China this month will open the world's tallest bridge, an engineering feat nearly twice as tall as the Eiffel Tower. The Huajiang Grand Canyon Bridge in the southwestern province of Guizhou stands 625 meters above a Beipan River ravine and spans 2,890 meters, cutting the travel time between counties on either side to two minutes from two hours. Construction began in January 2022, at a cost of two billion yuan (US$280 million). The new bridge surpasses the Millau Viaduct in France as the world's tallest span and is expected to become a major tourist attraction.
Top Business
China launches two probes of US semiconductor industry
China launched two investigations targeting the US semiconductor industry, the Chinese Ministry of Commerce announced in a statement, just ahead of US-China trade talks resuming in Madrid. One is an anti-dumping probe focusing on analog integrated-circuit chips, a realm dominated by US companies Texas Instruments and Analog Devices. The ministry said imports of the chips from the US increased 37 percent from 2022-24, while prices dropped 52 percent, harming the domestic industry. A second probe is an anti-discrimination investigation into US curbs on China's chip sector after Washington added 23 more China companies to its export-control list.
Micron pauses chip quotes, will raise prices upon resumption
Micron Technology has halted price quotes for all dynamic random-access memory (DRAM) chips, citing looming shortages as demand for high-capacity memory soars on the back of artificial intelligence applications. According to Taiwan's Economic Daily News, the chipmaker informed clients that prices for DDR4, DDR5, LPDDR4 and LPDDR5 will be suspended for a week and potentially raised 20-30 percent on resumption. Automotive-grade memory chips may jump as much as 70 percent. The move underscores how AI-driven development is turning memory chips into critical infrastructure. Competitor Sandisk has already raised NAND flash prices twice this year, citing strong demand from data centers, PCs and mobile devices.
China to mandate labeling for pre-cooked meals
China is preparing to introduce its first national food safety standard for pre-cooked meals, requiring restaurants to disclose whether they use ready-made dishes. The draft regulation, led by the National Health Commission, will soon be open for public comment. The move comes amid a online spat between influencer Luo Yonghao and restaurant chain Xibei founder Jia Guolong. Luo accused Xibei of serving mostly pre-prepared meals, igniting debate about transparency in China's catering sector. Xibei denied the claims at first, but a drop in customers forced Jia to apologize.
UK wants tougher locking devices on imported Chinese vehicles
The UK, where an average 11 vehicles are reported stolen every hour, has told Chinese carmakers they need tougher door locks if they want to increase sales in Britain, the Guardian reported. Chinese automaking standards are generally geared to their home market, where auto theft is rare. Sales of Chinese cars now account for about one in 12 of all new vehicles sold in the UK.
Economy & Markets
China targets 3 percent rise in 2025 vehicle sales
China is targeting vehicles sales of 32.3 million this year, up 3 percent from a year earlier but 2 percent below the number forecast by the China Association of Automobile Manufacturers. China's Ministry of Information and Industry said the target reflects a policy to support stable growth in an industry beset by price wars. The target includes a 20 percent increase in projected sales electric vehicles. The government also gave conditional approval for Level 3 autonomous driving, which allows vehicles to have "environmental detection" capabilities and make some decisions but still requires human override.
Mexico seeks talks with China on proposed auto tariffs
Mexican President Claudia Sheinbaum said her government is hoping to speak with Chinese representatives this week about Mexico's planned 50 percent tariffs on imported cars from China and other Asian countries, which are expected to affect Chinese carmaker BYD and US-based Tesla the most. China denounced the new tariffs. Mexico said earlier the new duty structure, which also includes textiles and steel to varying degrees, is necessary to protect domestic jobs.
China aims to double energy storage capacity
China is aiming to double new energy storage capacity to 180 gigawatts by 2027, according to a plan announced by the National Development and Reform Commission. The plan envisions 250 billion yuan (US$35 billion) of investment in the sector. Current capacity, comprised largely of lithium-ion battery storage, was 95 gigawatts as of June.
Corporate
Apple iPhone 17 series preorders outpace year-earlier orders for predecessor
Pre-orders for Apple's new iPhone 17 series in China are breaking previous records, though regulatory delays affect shipments of the iPhone Air, the South China Morning Post reported.
JD.com, one of China's largest online shopping platforms, said preorders have surpassed those for the iPhone 16 series last year. It said the standard iPhone 17, with 256 gigabytes of storage, has emerged as the most popular seller. Pre-order numbers exclude the iPhone Air, the company's thinnest-ever model, as Chinese regulators examine issues with the phone's embedded SIM system.
Sainsbury ends talk with JD.com on sale of Argos unit
Sainsbury's, the second-largest supermarket chain in the UK, said it terminated talks to sell its Argos general merchandise retailer to Chinese e-commerce giant JD.com, a day after they were publicly announced. The statement indicated that terms could not be agreed. Sainsbury bought Argos for 1.1 billion pounds (US$1.5 billion) in 2016.
Wahaha heir eyes new brand amid rift
Zong Fuli, daughter of late Wahaha founder Zong Qinghou, may launch a new beverage brand called Wa Xiao Zong as early as 2026, according to internal company documents seen by local media. The move comes as Wahaha grapples with trademark compliance risks and unresolved inheritance disputes. The documents suggest the new brand is intended to bypass legal uncertainty over the use of the Wahaha name. Since taking the helm last year, Zong has faced mounting challenges: a court battle with half-siblings over inheritance, labor disputes within the company, and a fragmented shareholder structure where a workers' union holds nearly a quarter of equity. Analysts warn that shifting away from Wahaha's household brand recognition carries risks in China's fiercely competitive drinks market.