PRE-MARKET CHINESE STOCKS NEWS: US President Trump and Chinese President Xi had an 'excellent' phone call

Baidu (9888 HK) - Co. announced a USD 5bln share buyback and plans to issue first dividend this year. (Newswires)

Chongqing Brewery (600132 CH) - Co. prelim. FY25 (CNY) net 1.23bln (exp. 1.20bln), rev. 14.7bln (exp. 14.7bln). (Newswires)

Lee & Man Paper Manufacturing (2314 HK) - Co. prelim. FY25 (HKD) net 1.88bln-2.00bln (prev. 1.36bln Y/Y). (Newswires)

Seazen Group (1030 HK) - Co. places 198mln shares at HKD 2.39/shr. (Newswires)

US President Trump said he had an excellent telephone conversation with Chinese President Xi and that it was a long and thorough call, while they discussed many important subjects, including trade, military, and the April trip that he will be making to China. (Newswires)

Chinese President Xi said he is willing to work with US President Trump in the Chinese New Year, and emphasised having a good relationship with the US. Xi also stated that the US should deal with the Taiwan issue with caution, and that it remains a crucial issue in US-China relations. (Xinhua)

Chinese Commerce Ministry said regarding the EU wind turbine probe, that it will take necessary measures to safeguard firms' legitimate rights and interests, while it accused the EU of hurting Chinese firms' investment confidence. (Newswires)

Chinese senior official said China will "deeply participate" in agricultural trade and expand imports of products, while it signalled strong demand for soybean imports in the 2026 rural blueprint. (Newswires)

China Securities Daily reported that analysts now expect PBoC RRR 'cuts' in Q2. (Newswires)