China’s economy grew 5.0% year-on-year in the first quarter,  accelerating from 4.5% in the previous quarter, according to official data released Thursday. The stronger result gives Beijing some momentum as policymakers brace for fallout from the Iran war, which raises the hazards of trade disruption and higher energy costs. (REUTERS)

The United States warned that buyers of Iranian oil could face secondary sanctions, with Treasury Secretary Scott Bessent saying Washington expects China to pause purchases as it tightens pressure on Tehran. U.S. officials also said they had written to two Chinese banks warning they could be sanctioned if Iranian funds are found moving through their accounts. (REUTERS)