Daily brief
China has announced sanctions against 10 US companies, including two rare earth producers, in response to the Pentagon's blacklist of Chinese firms. The sanctions restrict exports of key materials used in defense manufacturing, escalating trade tensions between the two countries. China's export controls target rare earth elements critical for high-tech and defense industries.
Chinese electric vehicle makers BYD and Xpeng are moving their SUVs upmarket, but analysts warn this could lead to a glut.
Leapmotor launched the Lafa5 RHD at the Hong Kong car show.
China rolled out a new action plan to boost foreign investment, welcomed by foreign business representatives eager to tap opportunities in healthcare and finance.