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China is opening the month with strength across trade, chips, and money markets. Chinese companies tied to cross-border transactions saw their stocks surge after the commerce ministry said the yuan is being used to pay tolls for passage through the Strait of Hormuz. That news sent traders straight into names linked to moving money across borders. In Shenzhen, CNPC Capital, the financial services arm of China National Petroleum, jumped as much as the 10% daily limit. Lakala Payment climbed as much as 7.9%. Shenzhen Forms Syntron Information rose 9.4% before giving back part of the gain later. Cross-border payments surge as yuan toll use lifts market bets China has been pushing wider yuan use in trade for years, and this update gave the market something specific to trade on. That is why CNPC Capital, Lakala Payment, and Shenzhen Forms Syntron Information all shot higher in the same session. The second major piece of the story came from SMIC, China’s biggest chipmaker, which reported 2025 revenue increase of 16% from a year ago to a record $9.3 billion. Analyst estimates from LSEG say revenue could top $11 billion in 2026. Moore Threads, which wants to compete with Nvidia, said 2025 revenue should come in between 1.45 billion yuan and 1.52 billion yuan, or about $209.8 million, which would mean growth of 231% to 247% from a year earlier. New U.S. restrictions on Nvidia’s chips to China have also pushed Beijing to encourage local firms to buy homegrown alternatives. Huawei has been one of the companies stepping in. The gap is still there, though. Chinese chips still trail U.S. products on performance. Chip sales jump while the central bank pulls cash from the system Even with record revenue, China’s chipmakers are still behind rivals in the U.S., South Korea, Europe, and Taiwan…

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Filed under: News - @ April 3, 2026 11:05 pm