A fragile ceasefire in the Iran-Israel war apparently took effect after US President Donald Trump angrily rebuked both sides for violations at its start. Trump, who claims credit for brokering the halt in 12 days of fighting, reserved his harshest criticism for Israel, saying, "I'm not happy. Israel, do not drop those bombs. If you do, it is a major violation. Bring your pilots home, now!" China Foreign Ministry spokesman Guo Jiakun said at a press conference that "China does not want tensions to escalate and hopes a ceasefire can be achieved as soon as possible.

Børge Grende, president of the World Economic Forum, said in an interview with Xinhua news agency that he is "relatively confident in China's economic growth, both medium-term and long-term." He was speaking at the current meeting of Summer Davos in Tianjin. Among speakers at the event were Harvard University Professor Graham Allison, who said China has all the ingredients for continued growth, and Paul Gruenwald, chief economist at S&P Global Ratings, who said higher education is "the magic sauce" for growth, creating a pool of exceptional talent.

Chinese regulators approved the addition of benzene futures and options contracts to trading on the Dalian Commodity Exchange. Benzene is used primarily as a solvent in the chemical and pharmaceutical industries, and is also used in gasoline. The China Securities Regulatory Commission said the new derivatives will help chemical companies hedge risk and stabilize supply chains amid volatile prices. Benzene prices have dropped 31 percent this year.

Apple China is offering deep discounts, tapping national subsidies on trade-in goods. Consumers can receive up to 500 yuan (US$69) off iPhones, iPads and Apple Watches priced under 6,000 yuan, and up to 2,000 yuan off eligible Macs. The price cuts come amid fierce domestic competition and a slowdown in Apple sales in China