The governments of China and the US released a joint statement on May 12, 2025, announcing a significant easing of trade tensions, with both sides agreeing to roll back certain tariffs and resume high-level consultations aimed at stabilizing economic relations. The move is seen as a strategic effort to de-escalate ongoing trade frictions and reestablish a framework for long-term, mutually beneficial economic cooperation
Huawei officially launched its HarmonyOS PC operating system on May 8, expanding into the computer market with a rebuilt OS featuring enhanced performance, security, and cross-device collaboration. The move positions Huawei to challenge Windows' dominance as it prepares to debut its first HarmonyOS-based PC at HDC 2025 next month
As tensions escalate between the US and China over semiconductor technology, China has placed domestic innovation in chipmaking tools at the center of its national tech strategy. In a significant milestone, Chinese firm Skyverse Technology announced that its REDWOOD-900, a domestically developed bright-field wafer inspection system, has begun shipments to several Chinese semiconductor fabs, marking a rare breakthrough in a field long dominated by foreign giants
Hua Hong Semiconductor, a major Chinese state-owned foundry, posted a sharp profit drop for the first quarter of 2025, with net income falling 88.1% year-over-year to US$3.8 million. In yuan terms, net profit came in at CNY22.76 million, down 89.73%. Core earnings, excluding one-off items, fell even further to CNY16.10 million (approx. US$2.23 million), a 92.3% year-over-year decline. The earnings slump came despite revenue growth, underscoring the growing strain on the company's core business