DeepSeek V4 Runs Huawei 🧠 CATL 6-Min Charge Battery ⚡ China Pharma Tops US 💊

In partnership with

2026-04-27 | subscribe | homepage

Welcome back to China Insights Weekly. Here are some of the key highlights for this week’s edition:

• Solar exports hit record highs, as clean power overtakes fossil fuels globally

• Chinese shipyards win tanker orders, with China taking nearly 70% of new global orders

• Outbound travel rebounds, with visa demand nearing pre-pandemic levels

• RMB borrowing surges, as US banks tap cheaper offshore yuan funding

Remember to follow us on LinkedIn, X or Facebook.

🚀 Headlines

China’s solar exports double in March to hit record high, clean power surpasses fossil fuels first time in 100 years (link, link)

Chinese solar and battery exports surged to record highs in March 2026 amid the global energy crisis. Solar panel exports jumped 91% from February to reach 32 GW, while cell and wafer exports rose 108% to 36 GW, with the latter having overtaken panel exports in October 2025 as assembly shifts abroad. Combined cleantech exports, solar, batteries, and EVs, climbed 70% year-on-year and 38% from February. Battery exports alone hit USD 10 billion in March, up 44% month-on-month, driven by strong demand from the EU, Australia, and India. Ember notes that China’s record solar buildout is now displacing gas-fired generation equivalent to all LNG shipments through the Strait of Hormuz, while the global EV fleet cut oil demand by 1.8 million barrels per day in 2025.

Marking the first time this century that China’s fossil fuel electricity generation has declined, it fell by 56 TWh in 2025 as record clean power expansion met all domestic demand growth. China helped drive a historic global tipping point, with renewables reaching 34% of global electricity generation, surpassing coal's 33% share for the first time in 100 years. Solar alone met 75% of global demand growth, while total clean generation rose by 887 TWh, outpacing 849 TWh of new demand, causing global fossil output to drop by 0.2%.

DeepSeek V4 released China’s first trillion‑parameter model that runs entirely on domestic chips (link)

On April 24, 2026, DeepSeek released the preview version of its V4 model, marking a major milestone for China’s AI applications. The model comes in two open‑source versions: V4‑Pro (1.6 trillion parameters) and V4‑Flash (284 billion parameters), both supporting a 1‑million‑token context. On a 1M‑token context, V4‑Pro uses only 27% of the compute and 10% of the memory of its predecessor V3.2; V4‑Flash uses just 10% and 7%, respectively. V4‑Pro scores 90.2% on the Apex Shortlist and a Codeforces Rating of 3206, outperforming all open‑source models in agentic coding. It runs entirely on domestic chips (Huawei Ascend, Cambricon) using the CANN framework, breaking Nvidia’s CUDA dependence. V4‑Flash’s API price starts at 0.2 yuan per million input tokens. While still 3–6 months behind top closed‑source models, V4 establishes China’s domestic AI infrastructure and application ecosystem.

China's pharma dominance is just beginning as it surpasses the US as the global drug development center (link)

China has overtaken the US as the center of the global pharmaceutical industry, ending the old Western‑anchored order. It has closed the research gap and, in some cases, moved ahead in new treatments, creating a bipolar industry centered on the US and China. China’s early‑stage drug programs surged from about 800 in 2015 to over 6,000 in 2024, a more than 600% increase, while US programs grew from 5,000 to 7,000, causing its global share to drop from half to a third. In Q2 2025, China overtook the US in such programs. The country outspent the US on R&D two years ago (OECD data). Record licensing deals hit USD 133 billion in 2025, up from USD 50 billion in 2024. Faster, cheaper clinical trials and regulatory reforms drive this rise, with implications for global drug development.

CATL shocks industry with a new 1,500 km car battery that charges in 6 minutes (link)

Chinese battery giant CATL unveiled breakthrough battery technologies headlined by a Kirin solid-state battery with 350Wh/kg energy density, double that of lithium iron phosphate and 75% above mainstream ternary lithium, delivering up to 1,500km range for sedans and 1,000km for full-size SUVs with a pack under 650kg. Its third-generation Shenxing ultra-fast-charging battery achieves 10C–15C power, charging from 10% to 80% in 3 minutes 44 seconds and to 98% in 6 minutes 27 seconds. CATL also announced mass production of new sodium-ion batteries by Q4 2026, reaching 175Wh/kg, retaining over 90% capacity at –40°C, and offering 8,000–15,000 cycle life (2–3× that of LFP), with cell costs at 0.35–0.40 yuan/Wh. The move leverages China’s sodium self-sufficiency to reduce reliance on imported lithium.

China’s shipyards secure wave of oil tanker orders as Iran conflict drives demand, secured 70% of new orders in 2025 (link, link)

Chinese shipyards are benefiting from the Middle East conflict, driving demand for very large crude carriers (VLCCs). Switzerland’s Advantage Tankers, traditionally reliant on South Korean yards, has ordered two 307,000‑deadweight‑tonne VLCCs from China, scheduled for delivery in 2028 and 2029. Geneva‑based Mercuria Energy Group has signed shipbuilding contracts in China worth nearly USD 650 million for up to four VLCCs and two LR2 product tankers, also expected by 2029. In addition, China State Shipbuilding Corporation (CSSC), country’s largest shipbuilding conglomerate, received an order for twelve 9,200 twenty-foot equivalent unit container ships worth about CNY9 billion (USD 1.2 billion). The orders reflect China’s strong capacity, lower costs, and shorter delivery times amid global shipping disruptions.

In 2025, new orders surged to 107.82 million DWT, capturing nearly 70% of the world market, driven by demand for tankers, LNG carriers, and energy transport vessels. China’s shipyards delivered 53.69 million deadweight tonnes (DWT), over half of global output and an 11.4% year‑on‑year increase. Chinese shipyards are moving beyond cost advantages into high‑end, green technology segments, reshaping global shipbuilding competition.