Business Brief (March 30): China Launches Trade Barrier Probes Against U.S.

Published: Mar. 30, 2026 6:23 p.m. GMT+8

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Trade barriers

China’s Ministry of Commerce launched two trade barrier investigations on Friday into U.S. practices that disrupt global industrial and supply chains, as well as those hindering green product trade. The reciprocal moves are a response to U.S. Section 301 probes and aim to defend China’s legitimate industrial interests, the ministry said.

BYD earnings

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China launched trade barrier investigations against the US in response to Section 301 probes.
BYD’s 2025 revenue hit 804 billion yuan ($116B), with exports up 140%, but net profit fell 19%.
China held 30% of global auto market share in early 2026; SMIC allegations were denied as fake news.

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Who’s Who

BYD Co. Ltd.: BYD Co. Ltd. (比亚迪股份有限公司) achieved record revenue of 804 billion yuan ($116 billion) in 2025, with nearly 40% from overseas. Vehicle sales increased by 6.9% to 4.54 million units, and overseas exports surged 140% to over 1 million. Despite this growth, net profit declined 19% to 32.6 billion yuan, reflecting intense competition in the new-energy vehicle market.

Semiconductor Manufacturing International Corp.: A U.S. official accused Semiconductor Manufacturing International Corp. (SMIC) of supplying chipmaking tools to the Iranian military. China's foreign ministry spokesperson, Lin Jian, dismissed these allegations as "fake news."

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What Happened When

2025：: BYD Co. Ltd.’s revenue surpassed 800 billion yuan for the first time, reaching 804 billion yuan. Overseas revenue accounted for nearly 40% of the total. Vehicle sales rose to 4.54 million units and overseas exports surged to more than 1 million units. Net profit declined to 32.6 billion yuan.