CHINA: Key Local News Highlights - Chinese AI models gain global users

The export of aluminum products will likely keep rising amid growing demand in the new energy sector, while the widening price gap between domestic and international aluminum markets is opening up space for Chinese exporters to increase profits, Securities Times reported citing analysts. Exports of unwrought aluminum and aluminum products reached 598,000 tons, an increase of 15.4% year-on-year, setting a new monthly export record in more than a year. The Middle East conflict has affected aluminum production capacity by over 2.5 million tons, with a recovery period ranging from 3 to 12 months, while the shutdown of Mozal aluminum plant in Africa has also exacerbated the global aluminum supply shortage, the newspaper said citing analysts. 

Dim Sum bond issuance reached CNY759.6 billion as of June 14 this year, a year-on-year increase of 50.4%, Securities Daily reported citing Wind data. Issuance rates are declining and maturities are lengthening, with the weighted average rate sitting at 1.4% and issuance term at 2.9 years. Currently, offshore yuan liquidity is ample, and enterprises can use this window to obtain low-cost financing, which will further promote the internationalisation of the yuan, the newspaper said citing analysts.

China is "strongly dissatisfied" with a U.S. move to add several Chinese companies to the Pentagon's list of firms ‌it says are aiding China's military, the Ministry of Commerce said in a statement on Saturday. Beijing will "inevitably retaliate ‌resolutely and forcefully" should the U.S. fail to stop its erroneous practices, the ministry said, urging Washington to withdraw relevant measures immediately and return to building a constructive strategic and stable China-U.S. relationship.