MNI China Press Digest June 10: Trade, Stablecoins, LNG Ships

Highlights from Chinese press reports on Wednesday:

• China's goods trade rose 15.3% year-on-year to CNY20.68 trillion in the first five months of the year, accelerating 0.4 percentage points from the January-April pace, customs data showed. Analysts attributed the stronger export performance primarily to rising prices for AI-related products, particularly semiconductors, and a sharp rebound in shipments to the U.S. Exports to the U.S. climbed to USD39.03 billion in May, up 35.4% from a year earlier and 24.1 percentage points faster than the previous month.
• Anchorpoint Financial Technology will begin pilot operations for its stablecoin, said Hong Kong Monetary Authority Chief Executive Eddie Yue. HSBC plans to launch its own stablecoin in the second half of 2025, Yue added. Regulators will assess the performance of the first license holders before deciding whether to issue additional stablecoin licenses, Yue said. Separately, regulators are continuing talks on Wealth Management Connect 3.0, which could broaden eligible investment products, expand investor access and raise quotas. Yue noted authorities have not set a timeline for launching the next phase of the cross-border investment program.
• China State Shipbuilding Corp has begun construction of the world's largest 271,000-cubic-meter liquefied natural gas (LNG) carrier, with delivery scheduled for 2028. The vessel will carry 57% more cargo than the industry-standard 174,000-cubic-meter ships currently in service, according to the 21st Century Business Herald. China now accounts for more than 30% of the global LNG carrier market, underscoring the country's growing presence in high-value shipbuilding.