**Macro Developments** Nine departments, including the Ministry of Commerce, have jointly issued the "2026 Work Plan for the Quality Improvement and Public Benefit Action on Service Consumption." The plan integrates efforts to benefit people's livelihoods with promoting consumption and investment. It focuses on upgrading service consumption infrastructure while addressing key livelihood concerns such as care for the elderly and children, providing targeted support for sectors including housekeeping, elderly care, and childcare. The plan outlines 64 specific tasks across six areas: policy support, innovative consumption scenarios, platform development, expanded openness, standards leadership, and improved consumption environments. It aims to create new, highly visible consumption scenarios in traditional areas like catering, accommodation, elderly care, entertainment, tourism, sports, and health, as well as emerging growth areas like housekeeping services, online audio-visual, inbound consumption, and performance services.
The Ministry of Civil Affairs has issued six new and revised industry standards for the funeral and interment sector. These standards, including specifications for data sharing and exchange in funeral management service information systems and public satisfaction evaluation for funeral services, aim to advance IT development in the sector and improve service quality. The standards, which took effect on April 5, are designed to enhance management and institutional safeguards.
The Cyberspace Administration of China has solicited public comments on the "Management Measures for Digital Virtual Human Information Services (Draft for Comment)." The draft encourages the application of digital virtual human services across various fields, promotes demonstration applications under the principles of ensuring beneficial AI and safety control, and supports R&D innovation and industry-academia collaboration. It also calls for establishing a technical standards system and participating in international rule-making. Service providers and users must display a prominent "Digital Human" identifier in the display area throughout the service, complying with national regulations on AI-generated content labeling.
At the 2026 Space Computing Industry Conference held on April 3, the "Space Computing Professional Committee" was established under the Computing Industry Development Array. The conference announced ten key research projects, covering critical technologies at the satellite platform, chip, payload board, networking, hardware system, system software, industrial application, and interdisciplinary levels (including structural, launch vehicle, and thermal management technologies), aiming to foster collaborative industry efforts.
According to preliminary data from the China Passenger Car Association, retail sales of new energy passenger vehicles in March reached 784,000 units, an increase of 69% compared to the previous month. Total retail sales of passenger vehicles in March were 1.657 million units, down 15% year-on-year but up 60% month-on-month. Cumulative retail sales since the beginning of the year reached 4.236 million units, a decrease of 17% year-on-year. Wholesale volumes of new energy vehicles in March were 1.126 million units, flat year-on-year but up 56% month-on-year.
Myanmar's Union Parliament presidential electoral college held a vote for president on April 3. Min Aung Hlaing was elected as the new president with 429 votes.
**Financial Institutions** Ruifeng Bank announced on April 3 that Executive Director and Deputy President Qin Xiaojun has resigned due to a job transfer. His resignation is effective from April 3, 2026.
**Market Data** A-share markets closed lower on April 3. The Shanghai Composite Index fell 1% to close below 3900 points, the Shenzhen Component Index declined 0.99%, and the ChiNext Index dropped 0.73%. The Beijing Stock Exchange 50 Index fell 2.12%. Total trading volume on the Shanghai and Shenzhen exchanges was approximately 1.656507 trillion yuan, a decrease of about 186.487 billion yuan from the previous session. 716 stocks advanced while 4746 declined, with 38 hitting the upper limit and 41 the lower limit. Leading gainers included CPO, laser industry, and lidar sectors. Coal chemical, methanol, hydropower, utilities, coal mining, and agriculture sectors were among the top decliners.
As of April 2, the balance of margin lending in the Shanghai and Shenzhen markets decreased by 10.989 billion yuan to a total of 2.572055 trillion yuan.
**Company News** China Merchants Energy Shipping announced that recent Middle East tensions have led to the suspension of voyages into and out of the Persian Gulf for its tanker and other fleets. The company's stock had experienced significant price fluctuations, rising over 20% in three consecutive trading days. The company stated that its production and operations remain normal and no major restructuring or asset injection plans are underway.
Xiaomi announced that due to sustained sharp increases in global prices of key components like memory chips, it will adjust the suggested retail prices for some Redmi products effective April 11, 2026. The adjustments affect three models: the Redmi K90 Pro Max will see a price increase of 200 yuan, while the Turbo 5 and Turbo 5 Max will discontinue their Spring Festival discounts, though a 200-yuan subsidy for the 512GB variant will continue.
Ant Digital Technologies announced that its "Lobster" product, DTClaw, has begun internal testing. The product supports over 100 professional skills covering scenarios such as wealth management, investment, data analysis, and R&D, and integrates with enterprise office, finance, sales, and marketing systems for workflow automation.
China Eastern Airlines and Shanghai Airlines will adjust the fuel surcharge collection standard for domestic routes for tickets issued on or after April 5, 2026.
Bozhon Precision Industry announced that its total order backlog as of March 31, 2026, was 66.34 billion yuan (excluding tax), a year-on-year increase of 163.78%. Orders in the consumer electronics sector were 12.65 billion yuan (up 88.52% year-on-year), while the new energy sector accounted for 41.77 billion yuan (up 144.13% year-on-year). Orders in the semiconductor, automotive, and other sectors totaled 11.92 billion yuan.
Yousiyi stated via its official WeChat account that it is unable to provide after-sales services and is on the verge of collapse. The company claimed it has been fully cooperating with investigations by various authorities since April 1 but is operating abnormally with multiple accounts suspended. Yousiyi clarified that its products are not manufactured in Guangzhou and denied commissioning another company to seek endorsements or awards, stating it handles such applications independently. The company has sent a lawyer's letter and initiated legal proceedings against Zhejiang Suoxiang Company for what it describes as false statements causing public opinion impact.
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