China News Today: Bytes and Analysis, 23rd May 2026 

Liushenyu Coal Mine Gas Explosion Kills at Least 82 in Shanxi

A gas blast at the Liushenyu Coal Mine in Qinyuan County, Shanxi Province, on the evening of 22 May has killed at least 82 people, with more than 120 hospitalised and two still missing as of Saturday. It is China’s deadliest mining disaster in over a decade, prompting condolences from President Xi Jinping.

APEC Trade Ministers’ Meeting Concludes in Suzhou

China wrapped up the 32nd APEC Ministers Responsible for Trade Meeting in Suzhou on Saturday. Commerce Minister Wang Wentao said members reaffirmed commitment to advancing the Free Trade Area of the Asia-Pacific (FTAAP) and reached a “new consensus” on digital trade cooperation amid global economic uncertainty.

US and China Remain Far Apart at APEC

Despite the recent Trump-Xi summit, divergent readouts from the APEC meeting in Suzhou highlight unresolved gaps over tariffs and the FTAAP roadmap. Wang Wentao met US Deputy Trade Representative Rick Switzer on Thursday, with both sides saying they hoped to finalise summit economic details “as soon as possible.”

Wang Wentao Silent on “Urgent Official Business” Absence

Commerce Minister Wang Wentao declined to explain at Saturday’s press conference why he skipped the APEC opening session on Friday due to “urgent official business,” fuelling speculation. His deputy Li Chenggang chaired the meeting’s opening in his place at the Suzhou Jinji Lake International Convention Centre.

Nearly 10,000 Hongkongers Granted UK Permanent Residence

Nearly 10,000 Hong Kong residents have been granted permanent UK residency under the British National (Overseas) visa scheme, according to figures published Saturday. More than 160,000 Hongkongers have relocated to the UK since the scheme launched in 2021, drawing continued criticism from Beijing.

China-Russia Ties Deepen After Putin’s Beijing Visit

Following Vladimir Putin’s visit to Beijing last week, just days after Trump departed, Xi and Putin signed agreements strengthening bilateral ties and jointly criticised “irresponsible” US foreign policy. However, no final deal was reached on the long-awaited Power of Siberia 2 natural gas pipeline.

China Confirms 200 Boeing Aircraft Order

China has confirmed an order for 200 Boeing aircraft as part of the Trump-Xi summit outcomes, calling aviation a key area for US cooperation. Beijing also committed to purchasing at least $17 billion in US agricultural products annually through 2028 under the “constructive strategic stability” framework.

Yuan Holds Near Three-Year High Against Dollar

The Chinese yuan continues to trade near a three-year high against the US dollar, with USD/CNY at 6.7973 as of 22 May, supported by post-summit optimism. However, the People’s Bank of China has drained roughly 1.29 trillion yuan in liquidity over the past two months, signalling tightening.

Tariff Cuts on US Agricultural Trade Reaffirmed

China’s Commerce Ministry again flagged tariff reductions on US agricultural trade as part of the broader trade deal reached at the Trump-Xi summit. Beijing emphasised that lowered duties will remain in place “longer,” though Washington’s official summit readout notably omitted any mention of tariffs.

Rare Earth Export Controls Show Little Sign of Easing

Despite White House claims that China would address US concerns over rare earth shortages, Beijing’s export control regime remains largely intact post-summit. Industry analysts say licensing approvals continue to be slow, keeping global supply chains for permanent magnets and critical minerals under strain.

Flooding Death Toll Rises in Southern and Central China

Record-breaking rainfall across southern and central China has killed at least 22 people this week, with tens of thousands evacuated. Guangxi, Guizhou and Hunan provinces have been hit hardest by flash floods and landslides, with weather warnings remaining in force through the weekend.

SCMP Highlights Coal Waste as Critical Metals Source

The South China Morning Post reported Saturday that China is increasingly exploring coal waste and tailings as an unconventional source of critical metals, including gallium and germanium. The research push aligns with Beijing’s strategy to consolidate dominance over strategic mineral supply chains.

Trump Advisers Reportedly Fear Taiwan Invasion Within Five Years

Reports circulating this week indicate Trump administration advisers privately fear Xi Jinping may move on Taiwan within five years, potentially disrupting global AI chip supplies. The concern persists despite Trump’s recent conciliatory tone toward Beijing during his 14-15 May visit.

Taiwan Premier Calls China Greatest Source of Regional Instability

Taiwan’s Premier Cho Jung-tai reiterated this week that China’s ongoing military activities make it the greatest source of regional unease and instability. Taipei’s legislature recently approved a US$25 billion special defence budget aimed at bolstering drones, missile defence, and joint capabilities.

China Restricts US Investment in Top Tech Firms

China is moving to bar leading domestic technology firms, including top AI startups, from accepting US capital without government approval. The measure, reported in recent weeks, comes amid escalating tech rivalry and Beijing’s blocking of Meta’s acquisition of Singapore-based AI agent startup Manus.

Alibaba Unveils More Powerful Zhenwu AI Chip

Alibaba has unveiled an upgraded version of its in-house Zhenwu AI chip alongside a new large language model, deepening China’s push for semiconductor self-sufficiency. The company has also brought online a data centre powered by 10,000 of its own chips as US export curbs tighten.

BYD Becomes UK’s Top-Selling EV Brand

Chinese automaker BYD has become the UK’s best-selling electric vehicle brand in 2026, selling 12,754 cars between January and April. The milestone comes as BYD remains effectively locked out of the US market, prompting executives to double down on European and emerging market expansion.

White House Accuses China of “Industrial-Scale” AI Theft

US Office of Science and Technology Policy Director Michael Kratsios has accused China and other foreign entities of “industrial-scale” AI technology theft. Washington says it will take action, even as both sides signal cooperation on digital trade at APEC — underscoring persistent friction beneath the détente.

US Indicts Four Chinese Container Manufacturers

The US Department of Justice has indicted four Chinese shipping container manufacturers, alleging a pandemic-era price-fixing cartel that inflated costs for American importers. The charges add a new legal flashpoint to US-China commercial relations just after the leaders’ summit truce.

China Holds Combat Patrols Near Scarborough Shoal

China’s military continues combat readiness patrols near Scarborough Shoal in the disputed South China Sea, following Beijing’s recent designation of the area as a “nature reserve.” Between 4-11 May, 35 Chinese vessels were tracked near Philippine-claimed waters, raising fresh fears of escalation with Manila.