1. Geely will prioritize using Volvo Cars' existing plants overseas rather than constructing its own factories. According to reports, Geely will utilize Volvo Cars' current facilities in Europe to increase vehicle production. Founder Li Shufu warned that overcapacity in the global automotive industry is "very severe." This approach contrasts with that of BYD, which is building new factories overseas. Li Shufu stated that against the backdrop of geopolitical tensions and the end of the era of globalization, the group needs to "embrace" all opportunities for cooperation.
2. A Reuters/Ipsos poll released on March 31 revealed that approximately 66% of American respondents hope the U.S. government will end military engagement with Iran as soon as possible, even if previously set objectives have not been met.
3. Zhangxue Motorcycle faces potential penalties over complaint regarding purchase restriction on its 820RR model for novice riders? The Market Supervision and Administration Bureau of Chongqing Liangjiang New Area clarified that no penalty has been imposed and the situation was misinterpreted. A video circulated online recently, featuring Zhang Xue, founder of Chongqing Zhangxue Motorcycle Company, indicating that the company's presale of the high-displacement 820RR model, which prohibited purchases by riders with less than one year of driving experience, had drawn user complaints to market regulators. In the video, a company employee mentioned receiving contact from market supervision authorities that day, stating that the restriction violated fair trade principles and required rectification, with potential penalties for non-compliance. On April 1, authorities confirmed no penalty had been issued.
4. Local government bond issuance exceeded 3 trillion yuan in the first quarter. On March 31, 2026, construction was underway on the Wulian section of the Wei-Su High-Speed Rail in Rizhao, Shandong, with China Railway 11th Bureau Group's bridge-building machine installing box girders. The accelerated issuance of local government bonds and special bonds is set to bolster subsequent infrastructure investment. Wind data shows that local bond issuance reached 3.1059 trillion yuan in Q1, a 9.3% increase from the 2.8421 trillion yuan recorded in Q1 2025. Issuance of new special bonds surged to 1.1599 trillion yuan, a significant 20.8% rise from the 960.2 billion yuan in the same period last year.
5. Liaoning Province will subsidize high-quality micro-dramas and AI-generated comic series produced using artificial intelligence technology. According to a "Liaoning Release" statement on March 31, the provincial government held a press conference to announce and interpret measures aimed at promoting the high-quality development of Liaoning's micro-drama industry. The measures propose supporting the integration and R&D of related technologies, offering subsidies equivalent to 10% of the actual computing power costs for quality micro-dramas and AI comic series utilizing AI. Special support will also be provided for integrated creations combining micro-dramas with key sectors like culture and tourism, sports, legal education, and intangible cultural heritage.
6. The total online registration volume for new and pre-owned homes in Shenzhen reached 7,898 units in March, the highest figure in nearly 11 months. According to data released by Leyoujia Research Center on April 1, the total online registrations for new and pre-owned residential properties in Shenzhen in March 2026 increased by 117% month-on-month, marking the highest level in the past 11 months. Specifically, presale registrations for new homes citywide amounted to 1,571 units, up 109% month-on-month, while registrations for completed new homes reached 1,256 units, a 130% increase. Combined new home registrations totaled 2,827 units, rising 118% from the previous month. Registrations for pre-owned homes hit 5,071 units, a 117% increase, consistently maintaining the level around Shenzhen's property market benchmark of 5,000 units.
7. Petrobras announced that Bruno Moretti has been appointed Minister of Planning and Budget and has resigned as Chairman. On April 1, Petrobras announced that it had received the resignation of Chairman Bruno Moretti, effective immediately. Moretti resigned from his positions as Chairman and board member due to his appointment as Minister of Planning and Budget.
8. Shenghang Shipping stated that it is not insolvent and is not selling off vessel assets. Shenghang Shipping clarified on an interactive platform that the company is currently operating stably and orderly, and there is no situation involving insolvency or the disposal of vessel assets.
9. Samsung's Xi'an plant undergoes process upgrade; SK Hynix increases capacity at two major plants; Korean chip giants ramp up investment in China. On April 1, a report titled "Korean chip giants increase investment in China to address AI memory shortage," published by The Korea Times on March 30, cited recent data showing that Samsung Electronics and SK Hynix continued to significantly increase investment in their Chinese plants throughout 2025. This strategic move directly responds to the global supply shortage in the memory chip market and highlights China's crucial role in the global semiconductor supply chain. Investments in China surged last year.
10. Toyota recalls 74,000 vehicles in the U.S. due to insufficient reverse warning sound volume. Toyota Motor issued a recall notice for certain 2023-2025 Toyota Corolla Cross Hybrid models in North America due to safety concerns. The recall affects approximately 74,000 vehicles in the United States. The warning sound emitted by affected vehicles when reversing may be lower than expected, potentially making it difficult to hear in some situations and increasing the risk of collision with pedestrians.
11. Microsoft, Chevron, and Engine No.1 sign exclusive power supply agreement. Microsoft, Chevron, and investment fund Engine No.1 announced on Tuesday that they had reached an exclusive agreement for power generation and supply. Technology companies, including Microsoft, are racing to secure electricity supplies for their rapidly expanding data centers, which power AI services like ChatGPT and Copilot.
12. Samsung increases prices of foldable phones due to rising production costs. Industry sources revealed on Wednesday that Samsung Electronics has raised the prices of its foldable smartphones due to increased memory chip costs and recent fluctuations in the foreign exchange market. The retail price of the 512GB Galaxy Z Flip7 has been raised from 1.64 million won to 1.73 million won (approximately $1,148), while the price of the 512GB Galaxy Z Fold7 increased from 2.53 million won to 2.63 million won. Both models were launched last July. The price of the 512GB Galaxy S25 Edge, released last May, was raised from 1.63 million won to 1.74 million won. However, Samsung has maintained the prices of the more affordable 256GB models and the Galaxy S26 series launched last month.
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