Reports indicate TSMC implementing price increases across all advanced process nodes (5nm, 3nm, 2nm) due to AI chip demand surge.
At the opening ceremony of the 2026 Shanghai World Mobile Congress (MWC Shanghai) on June 24, MIIT Chief Engineer Zhong Zhihong outlined four strategic priorities for advancing telecommunications infrastructure and technological innovation.
**Infrastructure Development.** Zhong emphasized the need to maintain appropriately ahead-of-the-curve development of new-generation telecommunications and computing networks. Key initiatives include advancing from dual-gigabit to dual-terabit networks, accelerating multi-tiered computing infrastructure, deploying low-altitude communications infrastructure and satellite internet, and constructing integrated space-terrestrial information networks.
**Technology Innovation.** The MIIT is accelerating 6G core technology R&D and standard-setting, cultivating application ecosystems around 6G, and strengthening scientific advances in artificial intelligence, quantum technologies, and embodied intelligence to nurture emerging and future industries.
**Sector Integration.** Digital technologies will enhance productivity across industries through expanded industrial internet adoption and convergence of network solutions with large language models in industrial, educational, and healthcare sectors.
**International Cooperation.** Governments, international organizations, and industry players are urged to adopt open, inclusive, and mutually beneficial approaches to deepen multi-level international collaboration, maintain unified 6G standards globally, and advance broadly consensus-based AI governance frameworks.
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AI services will fundamentally restructure network logic, diverging sharply from traditional human communications. Infrastructure faces "silent depreciation" risk: as chips and models iterate rapidly, newly deployed data center hardware may become obsolete within six months due to generational obsolescence. Breaking technological silos and introducing ecosystem diversity are essential.
Over the past decade, automotive electronics have evolved from distributed control toward domain controllers and central computing architectures, supported by modular software and OTA capabilities, establishing the physical foundation for AI-enabled vehicles. The industry is transitioning from "software-defined vehicles" to "AI-defined vehicles"; mature technology bases now make Level 4 autonomous driving achievable in the near term, potentially freeing driver time entirely.
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Douyin announced a Professional version on June 24, built on its latest Douyin 2.1 large language model series targeting complex office and productivity scenarios. Douyin 2.1 is an agentic model with enhanced multi-step capabilities including project planning, file processing, and tool use, with stable enterprise-grade coding delivery, and strengthened multimodal understanding, knowledge, and reasoning. Professional users can enable office task modes with 2.1 Pro; free users can access 2.1 Turbo within quota.
The office task mode supports operating local computers, browsers, skills, and scheduled tasks, includes built-in Office suites, covers design and applications for text, graphics, video, and audio, and generates websites by autonomously decomposing targets and invoking tools continuously—shifting from "question-answering" to "productivity tool." Three pricing tiers: Standard at 68 yuan per month (including Expert modes and office task quotas over 5× the free tier), Enhanced at 200 yuan (4× Standard quotas), and Premium at 500 yuan (10× Standard). Students receive a 6-month discount: 38 yuan per month for Standard after verification; free tier benefits and quotas remain unchanged.
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Analyst Tim Culpan reported on June 24 that TSMC is notifying customers of foundry price increases spanning not only the rumored 3nm process but all advanced processes at 7nm and below, with overall increases of 5–10% affecting approximately 75% of wafer revenue sources.
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Four sources disclosed on June 24 that Qualcomm is in discussions with ByteDance to provide chip design services. If negotiations succeed, ByteDance would become an early customer of Qualcomm's chip design services. However, sources emphasized that negotiations are ongoing with uncertain outcomes. It remains unclear whether talks will culminate in a chip design and manufacturing agreement, and ByteDance may pursue other partners. Other chip details are unclear. One source stated discussions involve video processing unit (VPU) design, targeting mass production launch by year-end.
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OpenAI and Broadcom released an AI chip on June 24 to run models faster and more economically. Broadcom expects to deploy OpenAI's chip faster than originally anticipated, with Broadcom's CEO stating that OpenAI's new chip can save 50% in costs.
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ASML and the Dutch Organization for Applied Scientific Research (TNO) announced on June 24 a partnership to jointly develop and commercialize photonic chips. The collaboration centers on TNO's photonic chip pilot production line under construction in Eindhoven, Netherlands. ASML will provide manufacturing technology support in phases, including DUV and I-Line lithography equipment. Upon commissioning, the facility will produce indium phosphide (InP) photonic chips at 6-inch wafer scale.
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The PCB (printed circuit board) sector plummeted on June 24, with bellwether Shenghuo Technology dropping over 7% in a single day. Reports attribute the broader decline to two market rumors: NVIDIA demanding PCB manufacturers cut prices by 10%, and Shenghuo's capacity expansion delaying NVIDIA's Rubin platform shipments. When contacted as an investor, Shenghuo's receptionist stated that market rumors abound but the company cannot respond to each; however, this person stressed that company operations remain normal with no fundamental change.
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On June 24, five departments jointly launched a pilot program for industrial 5G independent networks to accelerate "5G + Industrial Internet" enablement across sectors. Industrial 5G independent networks are proprietary 5G networks built and operated independently by industrial enterprises, not requiring reliance on public networks. The pilot will support large enterprises in raw materials, equipment manufacturing, consumer goods, electronics, defense-technology, energy, and transportation sectors in building independent networks, encouraging enterprises in "5G + Industrial Internet" convergence pilot cities to pioneer independent network deployment. Currently, telecom operators primarily implement industrial transformation through public 5G networks by partitioning dedicated transmission channels or deploying public network equipment to production sites. This "operator-dedicated" approach contrasts with industrial 5G independent networks' "network-dedicated" mode, which better satisfies critical requirements such as production data remaining in-factory and exclusive network resources for manufacturing, transportation, energy, and power sectors, accelerating broad enablement across industries.
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The National Radio and Television Administration solicited public comment on June 24 on the Micro-drama Development Management Regulations (Draft for Comment). The regulations classify micro-dramas into three categories based on investment scale and subject matter: Class I (large investment or content involving politics, military affairs, diplomacy, national security, united front work, ethnicity, religion, judicial, or public security matters), Class II (moderate investment and general subject matter), and Class III (low investment and general subject matter). Classification standards will be set by the national broadcast-and-television authority and adjusted as industry develops.
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Seven departments adopted an action plan on June 24 for special crackdowns on illegal vehicle recycling and dismantling. The plan targets illegal recovery of scrapped vehicles under the guise of "used car acquisition" and resale to illegal dismantling operations or self-dismantling, with enforcement including traceability of vehicle sources and severing illegal recovery chains. Authorities will audit large sudden purchases of aging vehicles, verify vehicle condition and flow, and strictly validate supporting documentation; confirmed false "extinction" cases will be reported to relevant departments for vehicle-by-vehicle traceability and strict accountability. Investigations will examine scrapped vehicle auction records to prosecute entities without proper recycling-dismantling qualifications purchasing old vehicles through auctions, and verify vehicle destinations.
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The PBOC announced on June 24 that to maintain ample liquidity in the banking system, on June 25, 2026, it will conduct a 500 billion yuan MLF (Medium-term Lending Facility) operation via fixed-quantity, rate-tender, multi-tier bid auction with a 1-year tenor.
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According to the MIIT website, relevant standardization bodies have completed drafting one standard on rare-earth oxides for scintillation crystals, seven light-industry standards including on human-hair hairpieces, twenty-eight textile standards on thermal protective performance testing and evaluation via residual-strength methods, and one defense-industry civilian standard on electronic blasting caps for oil and gas wells. The standards are now publicly disclosed to solicit stakeholder comment.
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Hong Kong Chief Executive John Lee met with multiple Hong Kong elderly residents living in Fujian at a local teahouse on June 24 to understand their retirement life. Lee noted that the SAR government is implementing the "Fujian Plan," providing support to eligible Hong Kong seniors relocating to Fujian for retirement. Some attendees were beneficiaries. Lee expressed pleasure hearing residents report that the monthly cash allowance from the SAR government substantially improved their retirement living standards and life in Fujian is comfortable and pleasant. Lee announced that an optimization to the portable cash assistance arrangement—allowing SAR beneficiary seniors in Guangdong and Fujian to have funds directly deposited into designated mainland bank accounts—announced in last year's policy address will launch next month, further easing benefit collection and providing peace of mind in retirement.
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Multiple sources confirmed on June 24 that securities firms are suspending new stock-class cross-border TRS (Total Return Swap) business per regulatory directive, with existing positions allowed to mature, close, or unwind normally without forced liquidation. Futures-class, city-investment-bond, and select FICC and northbound-related businesses remain unaffected. Since early 2024, this business has been under net-new-increase restrictions; firms await regulatory guidance on execution standards. Derivatives business personnel indicated window guidance suggests stock-class cross-border TRS will not initiate new positions, with existing contracts gradually reduced upon expiration. Current channel fees for stock-class cross-border TRS typically range 1–2%, representing a high-revenue item for firms.
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EY held a China mainland and Hong Kong IPO market report release event on June 24. IPO volume across A-shares and Hong Kong markets combined represents 33% of global total in the first half of 2026, while combined fundraising accounts for 22% of global total. In the first half, an estimated 81 companies are expected to debut on A-shares, raising 105.7 billion yuan.
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Gumming announced on the Hong Kong Stock Exchange on June 24 that the company (as guarantor) and the issuer entered a subscription agreement with underwriters, whereby the issuer conditionally agreed to issue bonds totaling 1.96 billion Hong Kong dollars (approximately 250 million US dollars) and the underwriters conditionally agreed to subscribe and pay, with the company providing unconditional and irrevocable guarantee of all amounts payable by the issuer under the bonds and trust deed, subject to conditions in the subscription agreement. Bonds will be issued at 101% of principal amount, with each bond denominated at 2,000,000 Hong Kong dollars, with excess amounts in multiples of 1,000,000 Hong Kong dollars.
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Samsung Electronics is preparing a stock buyback of approximately 900 trillion won (approximately 586 million US dollars) to distribute to employees as bonuses, with details potentially announced shortly, according to unnamed industry sources on June 24. The buyback stems from Samsung's prior agreement with the union to issue special performance bonuses in company stock form. Calculations show Samsung will need to distribute approximately 930 trillion won in stock bonuses after taxes.
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According to the China Academy of Information and Communications Technology, China's smartphone shipments in May 2026 reached 27.639 million units, up 16.5% year-over-year; 5G phones were 26.224 million units, up 23.8% year-over-year, representing 94.9% of total shipments. For January–May 2026, China's smartphone shipments totaled 114 million units, down 3.6% year-over-year; 5G phones were 106 million units, up 4.2% year-over-year, representing 93.2% of total shipments.
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Data released by the Passenger Car Association on June 24 shows that June 1–21, China's passenger vehicle retail sales reached 913,000 units, down 23% year-over-year from the same period last June and up 7% month-over-month. Year-to-date cumulative retail sales are 8.012 million units, down 20% year-over-year. For June 1–21, manufacturer wholesale reached 999,000 units, down 14% year-over-year and up 9% month-over-month. Year-to-date cumulative wholesale is 11.185 million units, down 7% year-over-year.
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As of 6:29 PM on June 24, 2026's annual box office (including pre-sales) surpassed 1.7 billion yuan. *Fast Life 3*, *A Letter to Grandma*, and *The Marksman: Desert Winds* currently rank as the top three titles by annual box office.