[Today's Headlines]He Lifeng, the Chinese lead for China-U.S. economic and trade talks and Vice Premier of the State Council, attended a press conference stating that China and the U.S. have reached important consensus and made substantial progress in talks.The high-level China-U.S. economic and trade talks were held in Geneva, Switzerland, from May 10 to 11. He Lifeng, the Chinese lead for the talks and Vice Premier of the State Council, stated at a press conference held by the Chinese delegation on the evening of the 11th local time that the talks were candid, in-depth, and constructive, reaching important consensus and making substantial progress. Both sides agreed to establish a China-U.S. economic and trade consultation mechanism. The two sides will finalize relevant details as soon as possible and will issue a joint statement on the outcomes of the talks on May 12.He Lifeng noted that under the current circumstances, the talks have attracted high attention from the international community. Through the joint efforts of both sides, the talks were productive, marking an important step towards resolving differences through equal dialogue and consultation, laying a foundation and creating conditions for further bridging differences and deepening cooperation.He Lifeng stated that the China-U.S. economic and trade relationship is significant for both countries and has an important impact on global economic stability and development. China is willing to work with the U.S. to actively implement the important consensus reached during the phone call between the two heads of state on January 17 this year, adopting a pragmatic attitude to solve problems, engaging in candid dialogue, equal consultation, managing differences, exploring cooperation potential, expanding the cooperation list, enlarging the cooperation pie, and promoting new development in China-U.S. economic and trade relations, injecting more certainty and stability into the world economy.The National Export Control Work Coordination Mechanism Office has deployed a special action to combat the smuggling and export of strategic minerals.In order to thoroughly implement the decisions and deployments of the Central Committee of the Communist Party of China and the State Council, on May 9, 2025, the National Export Control Work Coordination Mechanism Office organized a site meeting in Shenzhen, Guangdong Province, with the Ministry of Commerce, Ministry of Public Security, Ministry of State Security, General Administration of Customs, Supreme People's Court, Supreme People's Procuratorate, and State Post Bureau to deploy specific work for combating the smuggling and export of strategic minerals.The meeting pointed out that strengthening export control of strategic mineral resources is related to national security and development interests. Since the country implemented export controls on strategic minerals such as gallium, germanium, antimony, tungsten, and heavy rare earths, some foreign entities have colluded with domestic illegal personnel, continuously innovating smuggling and export methods to evade crackdown. To prevent the illegal outflow of strategic minerals, curb smuggling momentum, and effectively safeguard national security, while promoting compliant trade and ensuring the stability of production and supply chains, combating the smuggling and export of strategic minerals has become an urgent and important task.Research institutions have stated that overseas rare earth prices, represented by Europe, have risen sharply, with traders reluctant to sell. The CIF price of 99.99% purity terbium oxide in Europe has risen from USD 930/kg–1,000/kg in early April to USD 2,000/kg–4,000/kg. The increase and price levels of dysprosium oxide and terbium oxide are the highest since Argus began price assessments for these two products in 2015. The head of the Argus non-ferrous metals analysis team stated that this increase is mainly due to China's implementation of export controls on heavy rare earths at the beginning of last month, leaving overseas buyers unable to purchase rare earth products, leading to depleted inventories and panic pricing, although actual transactions have been limited【Market Outlook】U.S. stock indices mixed, Tesla (TSLA.US) up 4.7%As of the market close overnight, the Dow Jones fell 119.07 points, down 0.29%, closing at 41,249.38 points; the Nasdaq rose 0.78 points, closing at 17,928.92 points; the S&amp;P 500 index fell 4.03 points, down 0.07%, closing at 5,659.91 points. Tesla (TSLA.US) rose 4.7%, Apple (AAPL.US) rose 0.5%, Nvidia (NVDA.US) fell 0.6%, the Nasdaq Golden Dragon China Index fell 0.4%, and Alibaba (BABA.US) fell 0.4%. The Hang Seng Index ADR fell, closing at 22,812.13 points, down 55.61 points or 0.24% compared to the Hong Kong close.【Hot Topics Ahead】Passenger Car Association: April retail sales of new energy passenger vehicles reached 905,000 units, a year-on-year increase of 33.9%In April, the production of new energy passenger vehicles reached 1.151 million units, a year-on-year increase of 40.3%, down 1.5% month-on-month; from January to April, cumulative production reached 4.078 million units, an increase of 44.5%. In April, wholesale sales of new energy passenger vehicles reached 1.133 million units, a year-on-year increase of 40.2%, up 0.3% month-on-month; from January to April, cumulative wholesale reached 3.981 million units, an increase of 42.1%.Nvidia notifies Chinese customers about modified chip, plans to launch modified H20 chip in JulyOn May 10, according to informed sources, Nvidia plans to launch a downgraded version of its H20 artificial intelligence chip within the next two months to address U.S. export restrictions on the original model. Sources indicate that the U.S. chip manufacturer has notified major Chinese customers, including key cloud service providers, about the planned launch of the modified H20 chip in July.China Overseas takes over Hefei Evergrande Center, 500-meter super high landmark sees dawnLocal governments are still taking multiple measures to address the risks left by Evergrande. Recently, there has been a glimmer of hope for the landmark project &#34;Hefei Evergrande Center&#34; in Anhui Hefei. On May 9, China Overseas Land &amp; Investment Limited won the bid for a pure residential land parcel in Yao Hai District, Hefei City, at a base price of 364 million yuan, with a transaction floor price of 6,037 yuan/square meter. This parcel is located in the core of Hefei's main city, adjacent to the subway and mature commercial facilities, making it a scarce residential land in the city center. This parcel, which should have been a &#34;hot commodity,&#34; previously experienced a delayed transfer and was now acquired by China Overseas at the base price. The reason behind this is the special transfer conditions of the parcel—simultaneously undertaking the continuation of construction tasks for the D1 and D2 towers of Hefei Evergrande Center.JD.com lays out plans for autonomous taxi serviceAccording to the China Trademark Network, recently, a subsidiary of JD Group, Beijing JD 360 Degree E-commerce Co., Ltd., applied to register multiple &#34;Joyrobotaxi&#34; trademarks, covering international classifications in transportation tools, scientific instruments, and transportation storage. Currently, the status of these trademarks is pending substantive examination. The industry generally believes that JD's move aims to formally enter the autonomous taxi marketXiaomi's vacated headquarters site transformed into luxury residences, Greentown's launch sold over 7 billion in a dayOn May 11, the &#34;national unit price land king&#34; project - &#34;Greentown Chaoming Dongfang&#34; located in the Xuhui Riverside area of Shanghai officially opened for sale. Greentown announced this afternoon that all 120 units were sold out in one day, with a total sales amount reaching 6.988 billion yuan. Among the 120 units at Greentown Chaoming Dongfang, the cheapest unit has a total price exceeding 40 million yuan, while the most expensive unit is close to 154 million yuan, with 6 duplex penthouses priced over 100 million yuan, making it a definite &#34;top luxury&#34; project in the luxury real estate circle. This involves Hong Kong-listed Greentown China (03900).Apple announces price cutsAccording to reports, on May 10, Apple issued a price adjustment notice to its distributors, marking the first time Apple announced a price change on a Saturday. Specifically, the price of all storage versions of the iPhone 16 Pro Max was reduced by $160, corresponding to 1313.06 yuan; the 128GB version of the iPhone 16 Pro saw a price drop of $176, corresponding to 1445.27 yuan, with other versions also reduced by $160. This year's &#34;6.18&#34; event will start on May 13, and some distributors believe that Apple's price adjustment is a preparation for the upcoming &#34;6.18&#34; promotion. This involves the Apple supply chain sector.LIZHU PHARMACEUTICAL (01513): Injectable Aripiprazole Microspheres approved for market launchAccording to Zhitong Finance APP, LIZHU PHARMACEUTICAL (01513) announced that its wholly-owned subsidiary Zhuhai Lizhu Microsphere Technology Co., Ltd. (hereinafter referred to as &#34;Lizhu Microsphere&#34;) has received the &#34;Drug Registration Certificate&#34; (Certificate No.: 2025S01188) approved by the National Medical Products Administration, and the injectable aripiprazole microspheres have been approved for market launch.Jingtai Holdings (02228) plans to acquire 90% of Shanghai Siwei Medical for 250 million yuan, creating an AI-enabled remote ECG diagnosis platformAccording to Zhitong Finance APP, Jingtai Holdings (02228) announced that on May 10, 2025, the buyer (a wholly-owned subsidiary of the company), the seller, the guarantor, and the target company Shanghai Siwei Medical entered into an agreement. According to the agreement, the buyer conditionally agreed to purchase, and the seller conditionally agreed to sell 90% of the target company's equity for a consideration of 250 million yuan, to be paid in cash.CATL's Hong Kong IPO to raise at least $4 billionAccording to media reports, CATL's Hong Kong IPO will raise at least $4 billion. CATL has secured approximately $2.6 billion in cornerstone investments from companies including the Kuwait Investment Authority, Sinopec, and HILLHOUSE.[Stock Highlights]Rongchang Biologics (09995): Aidiqi® approved for the treatment of HER2-positive advanced breast cancer with liver metastasis in ChinaAccording to Zhitong Finance APP, Rongchang Biologics (09995) announced that the injectable vedolizumab (brand name: Aidiqi®) has officially received approval from the National Medical Products Administration (NMPA) for marketing in China, for the treatment of patients with HER2-positive advanced breast cancer with liver metastasis

AAPL

He Lifeng, the Chinese lead representative for China-U.S. economic and trade relations, stated at a press conference that substantial progress has been made in high-level talks between China and the U.S., and important consensus has been reached. Both sides agreed to establish a China-U.S. economic and trade consultation mechanism, with a joint statement to be released on May 12. This meeting has garnered significant attention from the international community, aiming to resolve differences through equal dialogue, deepen cooperation, and promote the development of China-U.S. economic and trade relations

- The high-level China-U.S. economic talks held in Geneva from May 10 to 11 resulted in significant progress and important consensus, according to China's Vice Premier He Lifeng.  
- Both sides agreed to establish a consultation mechanism and will release a joint statement on May 12, emphasizing the importance of dialogue to resolve differences and enhance cooperation.  
- Additionally, the article discusses various economic developments, including rising rare earth prices and significant corporate activities in the tech and real estate sectors.

Zhitong

Apple

YieldMax NVDA Option Income Strategy ETF

CATL

ByteDance

JD-SW

LIVZON PHARMA

NVIDIA

GREENTOWN CHINA

REMEGEN

Hang Seng Index

ISHARESHSI

NASDAQ Golden Dragon China Index

SINOPEC CORP

GraniteShares 2x Long NVDA Daily ETF

Tesla

XIAOMI-W

Zhitong Hong Kong Stocks Early Insights | He Lifeng: Substantial progress made in China-US talks, Apple announces price reduction