Trade truce extension aside, was AI the real Xi-Trump summit breakthrough?

🔮 We never expected to become targets of the campaign ourselves.

🔮 Shanghai Electric, a power generation and electrical equipment maker, will supply gas turbines to the Samalaju Combined Cycle Power Plant in the Malaysian state of Sarawak – a major infrastructure project developed by state utility Sarawak Energy Berhad to support rising regional demand.

🔮 New AI dialogue becomes latest formal channel to manage competition while coming leader-level meetings grant further room to stabilise ties, analysts say The Xi-Trump summit may prove more significant for stabilising relations and opening space for further negotiations between the world’s two largest economies than for its immediate trade outcomes, analysts said, pointing to the significance of a new dialogue on artificial intelligence.

🔮 What a 2-month trade-truce extension between China and the US reveals as rifts persist Analysts say that the relatively short window, while a positive sign, could also raise pressure on both Beijing and Washington An extension of the US-China trade truce, agreed upon at an unscheduled meeting between the two countries’ top economic officials, underscores a willingness to contain trade tensions, according to analysts who deemed it a positive signal for this week’s presidential summit.

🔮 The move comes after Zhejiang officials deemed that bilateral economic and trade ties would remain “settled” and in turn create a “favourable climate” for expanding exports to the US, the province’s largest overseas market.

🔮 Boeing’s 200-jet China deal could hinge on Trump-Xi talks: industry insiders Beijing agreed to buy 200 Boeing jets during Trump’s visit to China in May.

🔮 The 134.2km waterway promises shorter routes to the sea and lower transport costs, potentially reshaping the fortunes of landlocked regions The opening of China’s first new river-to-sea canal since 1949 – which will boost trade links with Southeast Asia – could transform the economy of the country’s landlocked southwestern interior in ways comparable to the Yangtze’s role in Shanghai’s rise, according to its operator.

🔮 China bets on chips and AI in new 5-year road map to challenge US tech dominance Plan forecasts that operating revenue of enterprises and manufacturers in related sectors will exceed 30 trillion yuan by 2030 An intensifying tech race with the United States, along with Beijing’s drive for technological self-reliance, has led China’s leaders to place greater significance and urgency on breakthroughs in sectors ranging from artificial intelligence to integrated circuits and chips in its latest five-year plan for electronics and information technology. The Ministry of Industry and Information Technology and the National Development and Reform Commission, China’s top economic planning agency, on Tuesday outlined priorities for the electronics and IT industry over the next half-decade. The plan also calls for a greater role for the indigenous BeiDou satellite navigation system as it competes with the US-led Global Positioning System.

🔮 Aramco will then provide feedback, before a decision on mass procurement is made by the end of the year, according to Micbot.

🔮 China moves to simplify forex settlements and make cross-border business easier Draft measures would expand forex services, ease compliance requirements and simplify overseas trade payments, Safe says China plans to expand foreign exchange settlement services and streamline cross-border trade payments, in a move to lower transaction costs and facilitate international commerce.

🔮 “The biggest single thing which I would love China to do is to say, ‘We want to join with Europe in a climate club’,” said Adair Turner, co-chair of the Energy Transitions Commission, during a panel discussion at the Bund Summit in Shanghai on Thursday.

🔮 Analysts say penalties signal tighter scrutiny over cross-border financial flows As the US Treasury imposed historic fines on Bank of America over compliance failures involving Chinese money-laundering networks, analysts see the action as a signal that could prompt Western banks to tighten scrutiny of Chinese clients and cross-border transactions.

🔮 New AI dialogue becomes latest formal channel to manage competition while coming leader-level meetings grant further room to stabilise ties, analysts say The Xi-Trump summit may prove more significant for stabilising relations and opening space for further negotiations between the world’s two largest economies than for its immediate trade outcomes, analysts said, pointing to the significance of a new dialogue on artificial intelligence.

🔮 What a 2-month trade-truce extension between China and the US reveals as rifts persist Analysts say that the relatively short window, while a positive sign, could also raise pressure on both Beijing and Washington An extension of the US-China trade truce, agreed upon at an unscheduled meeting between the two countries’ top economic officials, underscores a willingness to contain trade tensions, according to analysts who deemed it a positive signal for this week’s presidential summit.

🔮 The list now includes 18 chemicals, all of which could be used in fentanyl production.

🔮 The two sides have found new sources of leverage across AI, chips, rare earths and wider technology supply chains since the US leader’s May visit to Beijing When the presidents of the United States and China meet in Washington, the world will be watching to see whether their two countries can make good on their agreement to work towards “constructive strategic stability”.

🔮 Elon Musk says Tesla’s new Cybercab motor has no rare earths, but analysts saw the move as only a slight step towards reducing industry reliance – or China’s leverage David Zhang, general secretary of the Shanghai-based International Intelligent Vehicle Engineering Association, said that Tesla’s rare-earth-free motor remained largely a “commercial concept”, and it was still not certain whether the vehicle’s engine could match the efficiency and performance of conventional motors containing rare earth permanent magnets.