Morning Briefing: Key News Updates for May 3, 2026

Deep News
May 03

China's Ministry of Commerce has issued an order to block US sanctions against five Chinese companies. The US had sought to place companies, including Hengli Petrochemical (Dalian) Refining Co., Ltd., on its Specially Designated Nationals (SDN) list, freezing their assets and prohibiting transactions, citing their alleged involvement in Iranian petroleum deals.

In response to Lai Ching-te's visit to Eswatini, a Foreign Ministry spokesperson stated that Lai's "clandestine-style" overseas activities have become an international laughingstock. China urges Eswatini and a handful of other nations to recognize the historical trend, align with the times, and avoid being exploited by a small number of "Taiwan independence" separatists.

Box office revenue for the 2026 May Day holiday period has surpassed 300 million yuan.

On May 2nd, the Ministry of Commerce issued a prohibition order to counteract US sanctions imposed on five Chinese enterprises, including Hengli Petrochemical (Dalian) Refining Co., Ltd. The US measures, which involved adding the companies to the SDN list, asset freezes, and transaction bans, were based on claims of participation in oil transactions related to Iran.

A spokesperson for the Foreign Ministry commented on Lai Ching-te's use of the Eswatini King's "private plane" for his visit, describing Lai's "stowaway-style" foreign trip as a farce that has turned him into an object of international ridicule. The spokesperson advised Eswatini and other individual countries to clearly perceive the historical momentum, conform to the trend of the times, and not pull chestnuts out of the fire for a small number of "Taiwan independence" separatists.

According to the Ministry of Transport, on the second day of the May Day holiday, the volume of cross-regional passenger trips in society was expected to reach 300.36 million, a year-on-year increase of 2.6%. On the first day of the holiday, national railway passenger trips hit a record high of 24.844 million. The charging volume for new energy vehicles on national expressways also set a new historical record for the first day of a May Day holiday, reaching 23.0339 million kWh.

On the 2nd, China's first large-scale project for coordinated computing and green power supply—the 500,000 kW photovoltaic power station directly supplying green electricity to the Zhongwei Cloud Base Data Center—was officially put into operation. This marks the achievement of a direct connection from desert wind and solar power to digital computing power within China's "East Data West Computing" project.

Data from online platforms indicates that as of May 2nd, the total box office revenue for 2026 (including pre-sales) has exceeded 13.2 billion yuan, with the May Day holiday period box office (including pre-sales) surpassing 300 million yuan.

Suzhou City in Jiangsu Province has introduced new property purchase policies. The maximum individual housing provident fund loan amount has been adjusted to 1.5 million yuan, and the maximum family housing provident fund loan amount has been adjusted to 2 million yuan.

In the first round of the WorldSSP category at the 2026 World Superbike Championship (WSBK) Hungarian round, French rider Valentin Debise, representing the Chinese motorcycle manufacturer "Zhangxue Motorcycle," clinched the championship.

In the group stage of the 2026 World Team Table Tennis Championships in London, the Chinese women's team defeated Romania 3-0, and the Chinese men's team defeated England 3-0, both securing winning starts.

In the 2026 Uber Cup semifinals, the Chinese badminton team defeated Japan 3-0 to advance to the finals.

On the 2nd, at the 2026 Diving World Cup Finals, Wang Zongyuan won the men's singles 3-meter springboard championship, and Jiang Linjing won the women's singles 10-meter platform championship.

On the 2nd, the Lingbao City Fire and Rescue Bureau in Henan Province issued a fire incident notice. A fire at a foot massage parlor in Lingbao City, Henan, resulted in 6 fatalities.

Lü Yunsuo, a judge at the Luliang Intermediate People's Court in Shanxi Province who was exposed as involved in a molestation case, has been removed from his post. Public security authorities are conducting a criminal investigation.

In response to US President Trump's threat to increase import tariffs on cars from the European Union, a spokesperson for the European Commission stated that the EU will "keep all options on the table" and assess possible follow-up countermeasures.

Iranian Foreign Minister Araghchi stated that Iran is still willing to engage in diplomatic dialogue with the United States if the US changes its "expansionist practices" and "threatening rhetoric." According to Iranian sources on the 2nd, Iran executed two individuals who were working as spies for Mossad, Israel's intelligence agency.

At 18:00 on the 2nd, the Central Meteorological Center continued to issue a blue alert for heavy rain and a blue alert for severe convective weather. It is forecast that from 20:00 on the 2nd to 20:00 on the 3rd, parts of southern Hunan, central-southern and northeastern Jiangxi, western and northern Zhejiang, western Fujian, northern and central Guangdong, central-northern Guangxi, as well as southern Sichuan, and southern Yunnan will experience heavy to torrential rain. Specifically, parts of northeastern Guangxi and southern Hunan may experience severe torrential rain.

CCTV News, in collaboration with national museums, has launched the cultural heritage科普 product "Museum Calendar," which introduces cultural artifacts. The "You" is an ancient wine vessel prevalent from the Shang Dynasty to the Western Zhou Dynasty. This particular Western Zhou Gong You stands 22.3 cm high, with a sagging belly, a round and full shape, and is composed of a lid, body, swing handle, and ring foot. It features ornate decorations and exquisite craftsmanship, making it a treasure among bronze vessels.

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