What does the London framework mean for US-China trade?
Having extended a truce between the world's biggest economies, officials will go back to Donald Trump and Xi Jinping for their approval in easing export restrictions
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Zawya
15 minutes ago
- Zawya
Dongfeng Motor Launches Flagship Innovation, Driving Global Value Chain Advancement with China Intelligent Manufacturing
HONG KONG SAR - Media OutReach Newswire - 13 June 2025 - The International Automotive & Supply Chain Expo (Hong Kong) 2025 opened on June 12, bringing together global industry leaders. Seizing this strategic opportunity in Hong Kong, Dongfeng Motor is showcasing its technological edge and promoting nine flagship models covering both passenger and commercial vehicle segments. Dongfeng Motor aims to rank among the top three Chinese passenger vehicle brands in the Hong Kong market by 2025 and to lead the high-end right-hand-drive commercial vehicle segment among Chinese brands. Technology-Driven Innovation Fuels Dongfeng Motor's Ambition for One Million Overseas Sales Following several days of international media attention and coverage, the Expo is now underway as scheduled. Dongfeng Motor, alongside 10 other leading Chinese automotive manufacturers, is taking part in the event to demonstrate the strength of China's automotive industry. Leveraging this global platform, Dongfeng Motor is elevating its international brand presence and targeting emerging markets with precision. On the opening day of the Expo, several distinguished guests—including Lau Yip-wong, Member of the Standing Committee of the Chinese People's Political Consultative Conference (CPPCC); Zhou Qiang, Deputy Director-General of the Economic Affairs Department of the Liaison Office of the Central People's Government in the HKSAR; and Li Peng, Chief Representative of the China Council for the Promotion of International Trade (CCPIT) Representative Office in Hong Kong, representatives from leading organizations such as Sinomach (China National Machinery Industry Corporation), China Merchants Group, China Resources Group, the Hong Kong Trade Development Council (HKTDC), the Macao Chamber of Commerce, and the Hong Kong Cross-Strait Peaceful Development Association —visited the Dongfeng Motor booth and attended the official brand launch event. Under the theme "Dongfeng Advance, The Pearl Radiates," Dongfeng Motor arrived in Hong Kong bearing the achievements of Chinese innovation, aiming to position "Chinese Automobiles" as an amazing business card of global connectivity. This initiative also supports Hong Kong's deeper integration into China's national development strategy. At the event, Mr. You Zheng, Deputy President of Dongfeng Motor Corporation, presented the brand's strategic vision to a distinguished audience of guests and leading media representatives. Mr. You highlighted that Dongfeng Motor was founded during the "Third Front" construction, grew amid reform and opening-up, prospered in the new century—now rising with innovation in the new era. Technological innovation has always been the core of Dongfeng Motor's brand identity. The company continues to pioneer multiple powertrain pathways, focused on PHEV, pure electric and hydrogen energy. Dongfeng Motor has launched several pioneering platforms and architectures, including the MHERO new-gen off-road platform, quantum architecture all electric platform, and multi-energy low-carbon energy saving architecture, empowering the full spectrum of its passenger vehicle brands. In addition, Dongfeng Motor is accelerating the development of "Embodied Intelligence," advancing the integration of Tri-Network convergence, Penta-Smart integration. This strategy aims to equip Dongfeng Motor's next-generation smart vehicles with a robust physical structure ("Robust Body"), powerful performance systems ("Powerful Heart"), intelligent control systems ("Intelligent Brain"), and responsive digital infrastructure ("Agile Nervous System"). Recently, Dongfeng Motor also introduced its "TIANYUAN Intelligence" technology brand, which anchors its new "One Core + Dual Foundations + Dual Elements" smart mobility system. Mr. You emphasized that Dongfeng Motor will use the Hong Kong market as a strategic pivot to accelerate expansion into new global markets. In 2024, Dongfeng Motor's total vehicle exports exceeded 250,000 units, up 8.2% year-on-year. From January to April 2025 alone, overseas exported 77,000 units, marking a 7.7% increase over the same period last year. Dongfeng Motor is now accelerating the internationalization leap, with a clear target of 1-Million overseas sales annually in the near future. During the event, Dongfeng Motor signed strategic cooperation agreements with passenger and commercial vehicle fleet clients, marking a significant milestone and opening a new chapter of partnership and collaboration. Four Flagship Models Lead, Dongfeng Motor Redefines Urban Mobility for Hong Kong's Smart City Vision Dongfeng Motor's booth was among the largest corporate exhibits at this year's Expo, designed to highlight the integration of company's technology, intelligence, interactivity, and diversity. "Welcome to the Dongfeng Motor booth. What you're seeing now is..." From the moment visitors set foot on the stand, they were greeted by an AI-powered robotic dog, adding a futuristic and engaging element to vehicle introductions and welcoming interactions. The booth also featured a variety of interactive experiences that blended automotive culture with entertainment, earning widespread praise and enthusiastic feedback from attendees. Dongfeng Motor presented a lineup of nine vehicles, spanning both passenger and commercial models, with a strong emphasis on newly launched products, new energy vehicles (NEVs), and intelligent mobility solutions. Four standout models made their international debut at the Expo: MHERO II, DONGFENG 007, DONGFENG VIGO, and DONGFENG KL320. In the exhibition area, Dongfeng Motor's luxury electric off-road brand MHERO showcased two models. The MHERO I, the brand's inaugural release, is built on the proprietary M TECH intelligent off-road platform. It boasts a peak power output of 800 kW and maximum torque of 1,400 N·m, accelerating from 0 to 100 km/h in just 4.2 seconds—ensuring effortless performance in even the most demanding off-road environments. The MHERO II, hailed as the "The Luxury Intelligent Off-Roader," is the brand's second strategic model. It embodies MHERO's signature "Chinese Awakening Lion" design philosophy and is equipped with CATL's cutting-edge Freevoy off-road battery. Notably, the MHERO II is one of the first models globally to feature Huawei ADS 4.0 and HarmonySpace, delivering a highly advanced and immersive driving experience. VOYAH DREAM, the flagship model of Dongfeng Motor Corporation's premium intelligent new energy brand VOYAH, made a high-profile appearance at the Expo. Upholding VOYAH's core service philosophy of "Wholehearted Dedication" and the brand belief that "Safety is the Ultimate Luxury," the model embodies both emotional care and advanced engineering. MHERO and VOYAH are achieving impressive international growth, with year-on-year sales tripling. The MHERO I has entered over 50 countries, while VOYAH has expanded into more than 30 markets, setting new benchmarks for the global reach of Chinese premium new energy vehicle brands. Prominently featured at the Dongfeng Motor booth were other star models, including the DONGFENG 007—intelligent and elegant electric coupe; the DONGFENG VIGO—national smart and fun pure electric SUV; and the DONGFENG BOX—high-quality chic electric SUV tailored for urban drivers. According to sales data from January to April this year, the DONGFENG BOX has been exceptionally well-received in Hong Kong and Singapore, ranking among the top two in its segment. Also showcased were two commercial right-hand drive models: the DONGFENG KL320 and DONGFENG GX, built specifically to meet the needs of right-hand drive markets such as Hong Kong, Macau, and ASEAN countries. The DONGFENG KL320 is a all-scenario high-value commercial vehicle that serves a wide range of use cases—from trunk logistics and infrastructure projects to concrete transport. Equipped with 13 driving modes, it delivers leading fuel efficiency and driving comfort, making it particularly well-suited for Hong Kong's commercial operations. To date, Dongfeng Commercial Vehicles have achieved cumulative sales of over 15 million units. From January to April 2025, Dongfeng Motor ranked No.1 in terminal market share for the medium and heavy duty truck segment in China, holding a dominant 22.7% share and solidifying its leadership in the sector. As a trailblazer in China's automotive industry, Dongfeng Motor advances in harmony with the nation, the times, and the people. With a reputation for excellence and innovation, Dongfeng Motor is reshaping the international competitiveness of Chinese automotive brands. Leveraging this global platform, the company is intensifying efforts to expand in Hong Kong, Macau, ASEAN, and other emerging markets—creating a better mobility life for users in Hong Kong and beyond by smart technology & premium products. Dongfeng Motor is proud to be a shining symbol of China's automotive strength on the global stage—the "Eastern Pearl" of the industry. Hashtag: #DongfengMotor The issuer is solely responsible for the content of this announcement. Dongfeng Motor
The National
42 minutes ago
- The National
Iran and Turkey increasingly involved in Gaza negotiations as Egypt takes a step back
Iran and Turkey have become increasingly involved behind the scenes in negotiations to reach a ceasefire in Gaza between Israel and Hamas, sources familiar with the talks have told The National. Mediators from the US, Egypt and Qatar have been trying without success to broker a ceasefire since the last one collapsed in March. Neither Israel nor Hamas are making the compromises needed to pause or end the war − now in its 21st month − despite mounting international pressure over the rising civilian death toll and worsening humanitarian crisis. US President Donald Trump publicly acknowledged this week that Iran was playing a role in the talks. ' Gaza, right now, is in the midst of a massive negotiation between us and Hamas and Israel, and Iran actually is involved,' he said. Although his comment appeared to suggest that Iran's involvement was a new development, Tehran has in fact been indirectly involved in the process since the negotiations began soon after the start of the war in October 2023, according to the sources. As Hamas's chief foreign backer, Iran has offered behind-the-scenes counsel to negotiators from the Palestinian militant group and separately engaged in talks with Qatari and Egyptian mediators, they said. However, they noted Iran's involvement was currently at a higher-than-usual level, possibly as a result of talks that Tehran and Washington have been holding on Iran's nuclear programme. Mr Trump's Middle East envoy, Steve Witkoff, leads the US negotiating teams on both Gaza and Iran's nuclear programme. 'Iran has been present in the Gaza talks from day one,' said one of the sources. 'But its profile has grown in recent weeks. The nuclear talks between the Iranians and the Americans appear to have given both sides a chance to discuss Gaza as well.' The sources said that Turkey's role in the Gaza talks, while of a somewhat lower calibre than Iran's, has gained weight after its Islamist allies in Syria toppled Bashar Al Assad's regime in December and quickly established a rapport with the West − including the US − as the country emerges from 14 years of devastating civil war. Turkey, a close US ally and Nato's only Muslim member, maintains close ties with Hamas and is home to several of its senior officials as well as vast investments by the group. Moreover, Turkey, along with Algeria, are the most likely destinations for Hamas leaders that Israel wants to send into exile from Gaza. 'Turkey has shown itself to the United States as a capable regional player with the kind of weight that can influence or contribute to the handling of trouble spots like Gaza and Syria,' said one of the sources. Egypt, in contrast, has seen its role in the Gaza negotiations partially diminished, but not necessarily because of the increased relevance of Turkey and Iran, with whom Cairo has recently been forging close ties. The Trump administration's use of an American-Palestinian – Bishara Bahbah – as its main go-between with Hamas negotiators has partially eroded the role played by Egypt, which neighbours both Israel and Gaza, according to the sources. Even before Mr Bahbah emerged on the scene in March, US negotiators ignored Washington's designation of Hamas as a terrorist group to hold at least one round of direct talks with its leaders in Qatar. The sources said Egypt's reduced role could also be attributed to Cairo's tense relations with Washington over Mr Trump's proposal in January to resettle Gaza's population in other countries − mainly in Egypt and Jordan. Egypt rejected the proposal, saying it would not be party to another injustice to the Palestinians and warning it would not allow a mass movement of Palestinians into its territory. President Abdel Fattah El Sisi postponed indefinitely a White House visit in February, according to sources at the time, and Mr Trump did not include Egypt − a close US ally of 50 years − in his visit to the region in May. 'Egypt sees its regional role to be driven by its size, history and past leadership as well as its institutional capacity,' said Michael Hanna, a New York-based Middle East expert at the International Crisis Group think tank. 'Its relevance at present is dictated by its geography; sharing borders with trouble spots in Gaza, Libya and Sudan. But it definitely no longer has the reach farther afield,' Mr Hanna said. He said recent US moves on the Gaza file, like the use of Mr Bahbah and direct talks with Hamas, may have also made Cairo feel left out. Egypt had brokered truces that ended previous wars between Israel and Hamas, most recently in 2021. Its relations with Hamas have improved greatly since the 2010s, when Cairo accused the group of meddling in its affairs and supporting insurgents in the Sinai Peninsula. In contrast, Egypt's relations with Israel have soured since the Israel-Gaza war began and are now at their lowest point since they signed a US-sponsored peace treaty in 1979. Israeli right-wing news outlets frequently claim that Cairo is preparing for war against the country. Adding to Egypt's woes is that the fallout from the war in Gaza has harmed its own national security, notably the capture by Israel in May last year of the Palestinian side of the Rafah crossing in northern Sinai along with a narrow strip that runs the length of the Gaza-Egypt border. Israel maintains it captured the area to stop Hamas from receiving arms and other supplies through underground tunnels linking Egypt and Gaza. Egypt says it destroyed the tunnels nearly a decade ago. Attacks by Yemen's Houthis against Red Sea shipping since the start of the Gaza war have also hit hard traffic in Egypt's Suez Canal, denying Cairo billions of dollars in transit fees and deepening its economic crisis. The Houthis say the attacks are in solidarity with the Palestinians. Generally, said Mr Hanna, Egypt's regional weight has been somewhat devalued by its perennial economic woes. 'Egypt is often supplicant and that's not the posture of a country that can exert regional influence,' he added. Ammar Ali Hassan, a prominent Egyptian author and sociologist, said he partly disagreed with this analysis. 'Today's Egypt may have seen its regional role diminish despite its military capabilities,' he said. 'The absence of a clear political vision and will, as well as growing poverty, may have made safeguarding the country, rather than actively projecting regional influence − a priority given the turmoil surrounding Egypt.'
Crypto Insight
an hour ago
- Crypto Insight
After stablecoin push, Stripe acquires crypto wallet developer Privy
Stripe has acquired Privy, a cryptocurrency wallet infrastructure developer, for an undisclosed amount, highlighting the global payment processor's growing pivot toward digital assets. Privy confirmed the acquisition on Wednesday in an announcement on social media that it will continue to operate as an independent product embedded within the Stripe ecosystem. As part of Stripe, Privy will 'keep building for developers building on crypto rails [but] now with more resources, flexibility, and firepower,' the company said. Bloomberg initially reported on the acquisition, though no financial terms were disclosed. While not widely known in the crypto space, Privy provides infrastructure for companies developing digital asset wallets. The company says its technology supports more than 50 million crypto wallets worldwide. Stripe eyes $250 billion stablecoin market Six years after pulling back from crypto, Stripe made a major return in October last year by allowing merchants to accept stablecoin payments through USDC. Since then, its push into stablecoin payments has gained momentum. As Cointelegraph recently reported, Stripe has rolled out stablecoin accounts to clients in over 100 countries. As of May 7, Stripe users can send and receive US dollar-pegged stablecoins much like they would with traditional bank accounts. Stripe co-founder and President John Collison told Bloomberg that, based on his conversations with global financial institutions, banks are showing growing interest in stablecoins. 'Banks are very interested in how they should be integrated with stablecoins into their product offerings as well,' said Collison. However, not everyone believes traditional banks will be quick to embrace stablecoins. NYU professor Austin Campbell recently claimed that the US banking lobby is 'panicking' over yield-bearing stablecoins, which could disrupt the industry's business model. According to Campbell, banks fear their business could be 'harmed' if stablecoins begin paying interest. Source:
