Domestic News:
1. Xi Jinping hosted a welcoming banquet for US President Trump. Xi emphasized that the China-US relationship is the most important bilateral relationship in the world today, and it can only be improved, not damaged. They should be partners, not adversaries. We agreed to build a constructive strategic and stable relationship between China and the US, and promote the stable, healthy, and sustainable development of China-US relations.
2. Li Qiang met with representatives of the US business community. Li Qiang stated that the stable, healthy, and sustainable development of China-US relations requires the joint efforts of all sectors of both countries. He hoped that more US-funded enterprises would continue to deepen their presence in the Chinese market, further strengthening the bond of win-win cooperation between China and the US, promoting a more objective and rational view of China's development in the US, and fostering mutual trust and friendship between China and the US.
3. The People's Bank of China: In the first four months of 2026, the cumulative increase in social financing was 15.45 trillion yuan, 893 billion yuan less than the same period last year; RMB loans increased by 8.59 trillion yuan in the first four months; and the broad money supply (M2) balance at the end of April was 353.04 trillion yuan, a year-on-year increase of 8.6%. 4. The People's Bank of China (PBOC) will conduct 300 billion yuan of outright reverse repurchase operations on May 15, with a term of 6 months.
5. The Ministry of Agriculture and Rural Affairs issued the "Comprehensive Implementation Plan for the Regulation and Control of Pig Production Capacity (Revised in 2026)," setting the national normal stock of breeding sows at around 37.5 million heads, marking the second downward revision of the normal stock target since February 2024.
6. The Ministry of Industry and Information Technology (MIIT) and two other departments held a video conference on strengthening the safety management of new energy vehicles.
International News:
1. Israel and Lebanon held a new round of negotiations in the United States.
2. Federal Reserve's Schmid: Inflation remains the biggest risk, but the US economy has shown resilience.
3. Gulf states discussed post-war regional governance, with Saudi Arabia proposing a non-aggression pact.
4. OPEC+ reportedly plans to continue increasing production, aiming to restore all production cuts by the end of September.
5. British Health Secretary Streatine resigned, but has not yet secured the support needed to challenge for leadership within her party. 6. US Treasury Secretary Bessenter: Oil price curve expected to decline within six months; Iran's oil reserves have run out, forcing it to halt production.
7. US retail sales rose slightly in April, but part of the increase was driven by inflation; the import price index saw its largest increase since March 2022; business inventories recorded their largest increase in nearly four years in March.
