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0According to CCTV Finance, all China-US shipping routes are fully booked with container space in acute shortage. A person in charge of an international freight forwarding company in Ningbo, Zhejiang Province, stated that container space on all China-US routes has run out since May. Tonnage shortages prevail across East and South China, returning the market to the tight supply-demand balance typical of peak shipping seasons. At the end of April, freight rates for a 40-foot container shipped from Ningbo to ports on the US West Coast and East Coast stood at approximately USD 2,900 and USD 3,900 respectively. Following multiple rounds of price hikes, current rates for US West and East Coast lanes have surged to nearly USD 6,300 and USD 7,500.
The Bank of Korea warned that the AI boom-driven prosperity of South Korea’s chip industry has complicated inflation outlooks. Excessively large bonuses paid by some chipmakers may fuel wage hike demands among workers in other sectors, boosting consumer demand and raising corporate operating costs. Should wage growth spread from the tech sector to broader industries, combined with elevated energy prices, upward inflationary pressures will intensify.
The National Narcotics Control Office issued an Announcement on Including 16 Substances Including Difluoretomidate in the Catalogue of Non-Medicinal Narcotic Drugs and Psychotropic Substances, effective July 1. The document brings 16 substances including difluoretomidate under state control to prevent and curb harms caused by their abuse. After this round of additions, China has placed 412 individual non-medicinal narcotic and psychotropic substances under regulation, alongside three full categories: fentanyls, synthetic cannabinoids and nitazenes.
JPMorgan Chase raised its estimates for capital expenditure and borrowing required by major tech firms to build AI infrastructure. It projects hyperscale AI data center operators will invest around USD 5.5 trillion in such facilities by 2030, an increase of USD 400 billion from its November forecast.
New Fortune released its Top 500 Wealth Creators List. Forty-three-year-old Zhang Yiming retained the top spot this year with a fortune valued at CNY 543.9 billion, having claimed first place last year. Nearly all names in the top ten reappeared from last year, with all seeing positive growth in their stock market wealth. Driven by technological momentum and national development dividends, industrial chains covering chips, artificial intelligence and new energy vehicles have enjoyed robust growth. Regional wealth creation patterns have become more polarized; over 60% of listed individuals are based in Guangdong, Zhejiang, Beijing and Shanghai.
Research by TrendForce points out that amid an intensifying AI arms race among global Cloud Service Providers (CSPs), in-house developed ASIC accelerator platforms rely heavily on high-end custom MLCCs featuring miniaturized dimensions, high capacitance and high temperature resistance. Market demand is rapidly concentrating on a small number of top-spec products. Nevertheless, slow capacity expansion by suppliers poses substantial risks of structural shortages in the second half of the year.
OpenAI burned through USD 3.7 billion in cash in the first quarter, accounting for more than half of its USD 5.7 billion in revenue. Both cash burn and revenue tripled year-on-year. At quarter-end, the company held over USD 73 billion in cash and marketable securities, compared with USD 40 billion at the end of December last year.
Zhenjiu Lidu upgraded its 2026 performance guidance. Its target revenue growth rate was lifted from 10% to 15%, while the adjusted net profit target rose from CNY 600 million to CNY 800 million. All of its brands are expected to achieve over 10% year-on-year growth this year, with overall gross profit margins maintaining a steady upward trend.
WeChat Pay officially launched its exclusive AI Card. With the card, users can submit consumption requests through conversations with AI agents, who handle the entire process from intelligent product recommendations to order placement and payment. The WeChat Pay AI Exclusive Card is now available for use within WorkBuddy.
Germany’s Federal Minister of Defence stated that Germany plans to invest approximately EUR 16 billion to enhance the German Federal Defence Force’s anti-drone capabilities and accelerate the formation of rapid response units across all military branches to counter drone attacks.
