China promises to buy $17 billion in American agricultural products

1. China pledges to purchase $17 billion in American agricultural products between 2026 and 2028: The White House announcement stated that China has committed to buying at least $17 billion worth of American agricultural products in 2026, 2027, and 2028, excluding previous agreements on soybeans. The two parties have agreed to establish bilateral trade and investment councils to remove barriers to market access and promote exchanges under reciprocal tariff reductions.

2. International financial institutions revise CNY/USD exchange rate forecasts upwards: Major investment banks like HSBC, Deutsche Bank, and Goldman Sachs have raised their forecasts for the Chinese yuan (CNY) exchange rate, citing strong exports and stable Sino-American trade relations. HSBC has increased its year-end forecast to 6.65 CNY/USD, while Deutsche Bank anticipates a rate of 6.55 CNY/USD by the end of 2026, thanks to the growth in raw material imports.

3. Asia mobilizes $100 billion for climate change projects: A study by the Centre for Impact Investing and Practice reveals that nearly $100 billion was spent in Asia between 2021 and 2025 to combat climate change, with over 90% coming from development financing institutions. These funds are primarily allocated to modernizing transportation infrastructure, water resource management, and smart agriculture in key markets like China, India, and Southeast Asia.

4. Micron Technology benefits from the surge in AI memory chips: Due to high demand and soaring prices of high-bandwidth memory chips used in artificial intelligence (AI), Micron Technology expects profits of over $100 billion in the next 12 months. The company is investing $150 billion in expanding its US factories to strengthen its position against Samsung and SK hynix while meeting the demand for proprietary processors from Alphabet and Amazon.

5. Dubai starts construction of a $5.1 billion mega aircraft maintenance center: Emirates Airlines has initiated the construction of a 1.1 million square meter aerospace engineering complex in Dubai South, with a total investment of up to $5.1 billion. The project, scheduled for completion by 2030, will have the capacity to simultaneously maintain 28 wide-body aircraft and perform complex upgrades and modifications to their equipment.

6. Goldman Sachs predicts central banks will increase gold reserves: Financial firm Goldman Sachs anticipates that central banks will increase their gold purchases by an average of 60 tons per month in 2026 to diversify their asset portfolios amid geopolitical uncertainties.

7. Asia mobilizes $100 billion for climate change adaptation projects: A study by the Centre for Impact Investing and Practice shows that around $100 billion has been invested in climate change mitigation efforts in China, India, and Southeast Asia between 2021 and 2025. The majority of these funds are focused on sustainable infrastructure, water management, and smart agriculture, with over 90% of total financing provided by public financial institutions and development organizations.

Source: https://baotintuc.vn/kinh-te/diem-tin-kinh-te-the-gioi-noi-bat-ngay-1852026-20260518203305510.htm