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In the middle of winter, oil and gas production in the Bohai Bay is busy. Sinopec Shengli Oilfield seizes the favorable opportunity to advance oil and water well operations and drilling progress in offshore oil areas in an orderly manner. Photo by Zhang Can (People’s Vision)

Report from this newspaper, Beijing, February 14 (Reporter Liao Ruiling) The National Energy Administration recently announced the top ten landmark achievements in national oil and gas exploration and development in 2025. Relevant information shows that the "Seven-Year Action Plan" to vigorously enhance oil and gas exploration and development has come to a successful conclusion, with oil and gas reserves and production reaching record highs.

Data released by the National Energy Administration shows that domestic crude oil production will reach 216 million tons in 2025, a record high; natural gas production will exceed 260 billion cubic meters, with the equivalent exceeding 200 million tons for the first time. Crude oil production is advancing simultaneously on land and sea. Old oil fields such as Daqing and Shengli have paid close attention to fine reservoir management and improved recovery rates to achieve long-term, efficient and stable production. The output of shale oil has exceeded 8.5 million tons. The Bohai Oilfield continues to rank as the largest crude oil production base in the country, and the increase in offshore crude oil production accounts for more than 60% of the country's total. Natural gas production is "often developed simultaneously", with the Ordos Basin, Sichuan Basin and offshore natural gas production growing rapidly; the proportion of unconventional natural gas production has increased to 42%, forming a strategic succession of natural gas resources.

From 2019 to 2025, the country's cumulative new proven oil and natural gas geological reserves exceeded 10 billion tons and 10 trillion cubic meters, consolidating the foundation for continued stable production and increase. Crude oil production has stabilized at more than 200 million tons for four consecutive years, and natural gas production has increased by more than 10 billion cubic meters for nine consecutive years. The goal of the "Seven-year Action Plan" to vigorously increase oil and gas exploration and development has been exceeded, and domestic oil and gas independent support capabilities have been further improved.

In 2025, many outstanding results were achieved in the field of oil and gas exploration: the oil and gas production equivalent of the Ordos Basin exceeded 100 million tons, crude oil production stood at 38 million tons for two consecutive years, and natural gas production was nearly 80 billion cubic meters. The oil and gas foundation for the construction of energy super basins was further consolidated. Natural gas production in the Sichuan Basin has exceeded 80 billion cubic meters, accounting for more than 40% of the country's total. Among them, shale gas production is about 27 billion cubic meters, which has strongly promoted the construction of a 100-billion-cubic-meter natural gas production base in Sichuan and Chongqing. Offshore crude oil production has exceeded 66 million tons, natural gas production is about 30 billion cubic meters, and oil and gas production equivalent has reached 90 million tons. The role of offshore energy fortress has become increasingly prominent.

The underground scientific exploration wells with a depth of 10,000 meters have repeatedly broken records, and the "deep earth project" has been advanced efficiently. In 2025, the oil and gas industry will implement the national strategy of "March into the Deep Earth" and make significant progress in implementing the 10,000-meter-deep scientific exploration project. PetroChina successfully completed the drilling of Well Tako 1 in the Tarim Basin, with a completion depth of 10,910 meters, discovering oil and gas at a depth of 10,000 meters for the first time; it deployed Well Sichuanke 1 in the Sichuan Basin, with a current drilling depth of over 10,000 meters, setting a record for the world's largest wellbore with a depth of 10,000 meters. Xinjiang Huying Company actively promotes the exploration and development of deep resources and deployed the risky exploration well Xin'an 1 in the Junggar Basin, with a completed drilling depth of over 10,000 meters.

On February 14, local time, Yulia Navalnaya appeared after a long absence and participated in the Munich Security Conference held in Munich, Germany. The Russian activist showed a prison photo to the foreign ministers of Britain, France, Germany, Sweden and the Netherlands and revealed the cause of death of her husband, Russian opposition leader Alexei Navalny.

Navalny, 47, died in a prison north of the Arctic Circle two years ago. According to the Russian Federal Prison Service, he suddenly fell to the ground while walking and "despite the efforts of ambulance personnel to save him, he almost immediately lost consciousness and died."

Navalny's mother Lyudmila and her lawyers arrived at the prison the next day and were told that Navalny died of "sudden death syndrome", a condition considered to cause unexplained death in healthy adults and may be related to heart problems.

Yulia publicly stated that she could not agree with this explanation of the cause of death, and further stated that her husband was poisoned by a nerve agent. She claimed that Navalny was poisoned by the nerve agent "Novichok".

But two years later, a new account emerged. A statement was released on the same day, saying: "The United Kingdom, Sweden, France, Germany and the Netherlands are convinced that Alexei Navalny was poisoned by a deadly toxin. This is the conclusion reached by our governments based on the analysis of Alexei Navalny's samples. These analyzes have conclusively confirmed the existence of epibactin." "Epibatin is a toxin found in poison dart frogs in South America. It does not occur naturally in Russia."

Yulia, 48, later posted on social media, "Scientists from five European countries have confirmed that my husband Alexei Navalny was poisoned by epibatin (a neurotoxin, one of the deadliest poisons on earth). In nature, this toxin is found on the skin of Ecuadorian poison dart frogs. It can cause paralysis, respiratory arrest and painful death."

It is unclear how Navalny was given the frog poison called epibatin. It is worth noting that this neurotoxin is classified as a "chemical weapon" and the poison dart frog's deadly venom is 200 times more potent than diacetylmorphine.

Yulia also showed the foreign ministers of the five countries a photo of her husband's cell on the day of his death. There was a lot of vomit on the floor (which had been removed to prevent discomfort). This seems to further prove that Navalny died of poisoning and not "sudden death syndrome."

Yulia was obviously emotional that day and tried to hold back tears. She said she attended the same meeting in 2024 when news of her husband's death came. "It was difficult for me to find the right words, it was the worst day of my life." "I went up to the podium and said that my husband Alexei Navalny had been poisoned…"

Russia has firmly denied the claim that Navalny died from poisonous dart frog poison. The Kremlin called this a "propaganda war" by Western countries and called the accusation "ridiculous." It also questioned the possibility that dart frog toxin exists in Russia and emphasized that the Russian government was not involved in any poisoning against Navalny.

Xinhua News Agency, Beijing, February 14th. When California Governor Gavin Newsom attended the Munich Security Conference in Germany on the 13th, he criticized the Trump administration's environmental policies, saying that the latter was trying to "take the United States back to the 19th century." He also called on everyone to be patient because "he will step down in three years."

The Democratic governor spoke during a climate policy discussion and said that in the field of environmental and climate protection, there has never been a "such a destructive president" in the history of the United States.

On February 13, in Munich, Germany, police officers were on duty near the opening ceremony of the 62nd Munich Security Conference (Munich Security Conference). Photo by Xinhua News Agency reporter Li Ying

The Trump administration announced on the 12th that it was rescinding the scientific determination in a 2009 research report by the U.S. Environmental Protection Agency that six greenhouse gases, including carbon dioxide, pose potential threats to the health and welfare of the American public. Under the U.S. Clean Air Act's definition of "endangering public health and welfare," the federal government is justified in taking action to limit greenhouse gas emissions. This recognition is regarded as an important legal basis for the U.S. government to regulate greenhouse gas emissions, promote the development of electric vehicles, and combat climate change.

This is the largest single deregulatory move in U.S. history. In response to the above-mentioned measures of the Trump administration, Newsom bluntly said: "Trump is doubly stupid… trying to take the United States back to the 19th century."

Newsom warned that the United States is experiencing frequent disasters related to climate change, and people are already suffering the consequences of worsening air quality, frequent wildfires, and intensified flooding.

Newsom also said: "If there is only one message that can be sent today, it is that Trump is just a passenger and he will be gone in three years."

This is the White House taken in Washington, the capital of the United States, on December 2, 2025. Photo by Xinhua News Agency reporter Hu Yousong

The White House has not yet commented on Newsom's remarks.

According to the Associated Press and other media, Newsom is regarded as the Democratic candidate for the 2028 U.S. presidential election. Newsom has often been an outspoken critic of Trump.

The Associated Press said that this "fire" against Trump at the Security Council meeting was Newsom's "transmission of anti-Trump arguments to Europe" and showed that he is striving to "become the most influential figure in the Democratic camp to fight against President Trump."

In fact, when attending the World Economic Forum in Davos, Switzerland, in January, Newsom called on people from all walks of life, including business leaders, to stand up against Trump and hold him accountable. "We must stand up with a clearer stance, stronger convictions and be more consistent in our actions."

Newsom also sparked heated debate for publicly displaying and promoting a red knee pad to satirize some Western politicians and business people for "kowtow" to Trump.

According to the schedule, Newsom will also participate in a special discussion on the 14th. According to the Associated Press, this will once again provide him with an opportunity to "bombard" Trump. The criticism may involve his handling of NATO affairs, his coveting of Greenland, and military strikes on Venezuela. (Qiao Ying)

As of the close on February 13, 2026, Huaqin Technology (603296) closed at 88.88 yuan, an increase of 7.73% from last week's 82.5 yuan. This week, Huaqin Technology’s highest intraday price was 89.85 yuan on February 12. The lowest intraday price on February 9 was 83.33 yuan. Huaqin Technology's latest total market value is 90.278 billion yuan, ranking 7/90th in market value in the consumer electronics sector, and 210/5189th in the A-share market value of the two cities.

Focus on this week

Summary of company announcements

Huaqin Technology Co., Ltd. held the 23rd meeting of the second board of directors on February 12, 2026, and reviewed and approved the resolution on adjusting matters related to the company's 2026 restricted stock incentive plan. Because 4 employees did not meet the grant conditions, the incentive targets were adjusted from 468 to 464, and the number of restricted stocks granted was adjusted from 2.5275 million shares to 2.4331 million shares. The meeting also reviewed and approved the proposal to grant 2.4331 million restricted shares to 464 incentive targets. The grant date is February 12, 2026, and the grant price is 47.95 yuan per share. This adjustment and grant matter has been authorized by the first extraordinary shareholders' meeting in 2026 and does not need to be submitted to the shareholders' meeting for review.

The Remuneration and Assessment Committee of the Board of Directors of Huaqin Technology Co., Ltd. reviewed the list of incentive targets for the 2026 Restricted Stock Incentive Plan (grant date) and concluded that except for 4 employees who did not meet the grant conditions, the remaining 464 incentive targets complied with relevant laws, regulations and company regulations, excluding independent directors, shareholders holding more than 5% of the shares or actual controllers and their relatives. The incentive objects have not been deemed inappropriate candidates by the exchange or the China Securities Regulatory Commission, and are qualified to participate in equity incentives. The committee agreed to grant 2.4331 million restricted shares to 464 incentive targets at a grant price of RMB 47.95 per share.

Huaqin Technology Co., Ltd. held the 23rd meeting of the second board of directors on February 12, 2026, and reviewed and approved the resolution on adjusting matters related to the 2026 restricted stock incentive plan. Since four proposed incentive targets did not meet the grant conditions, the number of incentive targets was adjusted from 468 to 464, and the number of restricted shares to be granted was adjusted from 2.5275 million shares to 2.4331 million shares. The board of directors has determined that the grant date of this incentive plan is February 12, 2026. Neither the company nor the incentive objects have been prohibited from granting, and the grant conditions have been met.

Huaqin Technology Co., Ltd. held the 23rd meeting of the second board of directors on February 12, 2026, and reviewed and approved the resolution on adjusting matters related to the company's 2026 restricted stock incentive plan. Because 4 employees to be awarded did not meet the conditions, the incentive targets were adjusted from 468 to 464, and the number of restricted shares granted was adjusted from 2.5275 million shares to 2.4331 million shares. After adjustment, the incentive objects are still within the original scope and do not need to be submitted to the shareholders' meeting for review. This adjustment will not have a substantial impact on the company's financial status and operating results.

Huaqin Technology Co., Ltd. announced the list of incentive targets for the 2026 restricted stock incentive plan, with a total of 464 people. Among them, there are 8 directors and senior managers, who have been granted a total of 188,800 restricted stocks, accounting for 7.76% of the total number of grants; 456 middle and senior managers and core personnel have been granted 2.1833 million shares, accounting for 89.73% of the total number of grants. The total number of restricted shares granted this time is 2.4331 million shares, accounting for 0.24% of the company's total share capital.

Huaqin Technology Co., Ltd. held a board of directors meeting on February 12, 2026, and determined to grant 2.4331 million restricted shares to 464 incentive targets. The grant date is February 12, 2026, and the grant price is 47.95 yuan/share. The source of the stock is the A-share common stock repurchased by the company from the secondary market. After this grant, the incentive objects will not include independent directors and shareholders holding more than 5% of the shares. The restricted selling periods of restricted stocks are 12 months, 24 months, and 36 months respectively. The restricted selling periods are lifted in three phases, and the unlocking ratios are 30%, 30%, and 40% respectively. The company has completed relevant approval procedures and the board of directors believes that the grant conditions have been met.

The above content is compiled by Securities Star based on public information and generated by an AI algorithm (Network Information No. 310104345710301240019) and does not constitute investment advice.

Chinese AI model Seedance 2.0 triggers heated discussions overseas

Indian media: The video you just saw is not a real picture. It is entirely generated by AI, with no actors, no cameras, and no film crew. If you think you can find a flaw, you can't. Most people can't. Seeing is no longer believing. ByteDance has just quietly released Seedance 2.0, and the fierce competition for user attention has completely entered a fierce battle.

Overseas blogger video: China recently released Seedance 2.0, and its performance far exceeds everyone’s imagination. It completely crushes top American models like the Sora 2 and Veo 3. Now people are already using this AI model to create some stunning movies and video works.

On February 12, American entrepreneur Elon Musk reposted a tweet commenting on Seedance 2.0 on social platform X. He said: It is developing too fast!

After Seedance 2.0 went online for internal testing, it quickly attracted great attention around the world due to its multi-modal creation method and its own camera-operated presentation effects.

Many American directors praised Seedance 2.0

Many American directors were amazed after using Seedance 2.0 to produce short films. Director Charles Curran posted that he used Seedance 2.0 to create a trailer for a live-action game movie that has never been released. It only took 20 minutes and cost $60.

Director Brett Stewart released a 15-second short film of a teenager chasing a puppy in the woods. He lamented: "Seedance 2.0 will completely change the future of film production."

Director Andrew Olek released a short video of less than 30 seconds. The content is a video of a little boy in a wheelchair sliding into the water in the woods. The entire video is fast-paced, like a thrilling plot in a movie. Olek said: “This is incredible! All it takes is one prompt word and Seedance 2.0 can do it!

On social media, many overseas users have expressed strong interest in Seedance 2.0.

"It's not developing normally fast, but super fast."

They want to know how to download Jimeng and Doubao; how to successfully register a Chinese mobile phone number; whether there is an international version available, etc.

Some netizens gave their rankings after watching the videos generated by the most popular AI video generation models including Seedance 2.0, Keling 3.0, Veo3.1, Sora 2 and so on.

"Seedance comes first, then Keling, Sora, and Veo."

While the dawn of peace still seemed to be shrouded in smoke, the internal rifts in the European continent were suddenly illuminated after a secret diplomatic operation was exposed. The ambition to seek strategic independence has collided with the cold geographical reality.

On February 11, 2026, a phone call that was supposed to be full of goodwill ended in sharp public criticism. After communicating with French President Macron, Ukrainian President Zelensky bluntly pointed out to the media that any unilateral dialogue with Moscow that bypasses Kyiv will ultimately become a tool for Russia to humiliate Europe. This statement is like a bucket of cold water poured on Paris, which is trying to find a new way out for European diplomacy.

Zelensky’s anger is well-founded. Just a week ago, on February 5th and 6th, senior officials of the French Ministry of Foreign Affairs made a secret trip that was not publicly reported, and the destination was Minsk, the capital of Belarus. It is believed that the core purpose of this trip is to test the possibility of restarting the EU-Russia dialogue channel by contacting Belarus, a close ally of Russia. This “secret trip” exposed by the media quickly caused an uproar in Eastern Europe and even the entire European Union.

1. Macron’s “Lonely Charge”: Looking for a “Plan B” for Europe

Macron’s initiative is not a whim. Since the end of 2025, the French leader has proposed on different occasions that Europe must be responsible for its own security and cannot place its fate entirely on the “unpredictable” United States. The picture he painted was of a strong Europe that could independently talk to Moscow and defend its interests.

In an interview with Le Monde and other media on February 10, Macron defended this. He recalled the failure of contact with Putin three years ago but stressed that the environment was different today. He explained that the core logic is not to put pressure on Ukraine, but to establish a “orderly” dialogue framework to ensure that Europe has the initiative on matters related to its own security, rather than just being a spectator or follower of Washington’s decision-making.

Cypriot President Nicos Christodoulides expressed limited support during a visit to Paris. He asked a pointed question: Since the current de facto negotiations are with Putin through the US envoy, why can’t Europe have its own direct channel? This precisely hits the strategic core of Macron’s initiative—Europe’s strategic autonomy.

However, the ideal is full and the reality is skinny. Tatiana Kastoeva-Jean, a Russia expert at the French Institute of International Relations, pointed out the risks sharply: Russia has not shown any intention to make substantive concessions and is extremely good at exploiting the differences of its opponents. If Europe rushes into battle, it is likely to be manipulated by Moscow. Instead of promoting peace, it will weaken its own unity.

2. Monolithic? The boycott and internal rifts in the twelve Eastern European countries

Macron’s “Minsk secret trip” was like a touchstone, instantly testing the true temperature of Europe on the Russian issue. The most violent reactions came from Central and Eastern European countries, especially the “frontline countries” bordering Ukraine.

Poland’s response has been described as a “security alert.” Warsaw made it clear that it was “extremely dangerous and inappropriate” to resume dialogue with Putin when the current war has not subsided and Russian troops still occupy large areas of Ukrainian territory. A Polish diplomat bluntly said that he could not see any guarantee that such dialogue would accelerate peace, but might instead be seen as a disguised endorsement of aggression.

Subtle differences emerged among the three Baltic countries. Latvian Prime Minister Silina believed that Europe “should be present”, and Estonian President Karis also agreed that Europe needs to have its own voice. However, Foreign Minister Chachner’s condemnation was extremely strong. He called the move “catastrophic” to Ukraine and directly damaging European security. Lithuanian President Nauseda was more direct in his criticism, accusing that such unilateral actions would only “weaken Europe’s overall position.”

Britain is a key European force outside the EU, and the skepticism of its Foreign Minister Koop represents another force. She emphasized that there is currently no evidence that Putin has real sincerity for peace and that restarting dialogue may be just wishful thinking.

Even Germany, which Macron initially hoped to unite with, is cautious. Although German Chancellor Mertz admitted to maintaining coordination with France, he firmly stated that any dialogue must be conducted within the existing framework reached with the United States and Ukraine, and clearly rejected “parallel channels.” Although there are calls within the ruling coalition to take the initiative, they cannot change the government’s official position.

Italian Prime Minister Meloni’s warning is quite representative: If Europe cannot speak with one voice and instead contacts Moscow in a chaotic manner, it will simply be “doing Putin a favor.”

3. Zelensky’s bottom line: Before the ceasefire, there is no need to discuss anything

Faced with the surging trend of dialogue within Europe, Zelensky, who is in the eye of the storm, has drawn a clear red line. His position is based on two basic judgments about the current situation.

First, military realities are the basis for negotiations. Zelensky stressed that only after a real ceasefire is achieved will it be possible to discuss the political process, including elections. He dismissed rumors that it would hold elections and a peaceful referendum before May under U.S. pressure, pointing out that these reports were “false” and aimed at disrupting Ukrainian society.

Secondly, negotiations require bargaining chips. Zelensky warned Europe that it must ensure it has sufficient “pressure chips” before considering dialogue with Russia. In his view, Russia is currently not under enough pressure to force it to come to the negotiating table, and dialogue at this time is tantamount to a prelude to surrender. Ukraine’s concern is that certain European moves could be interpreted by Moscow as a signal of weakness and fragmentation in the Western alliance, encouraging it to adopt a tougher military posture.

4. Analysis: Paradoxes and dilemmas of European strategic autonomy

This diplomatic turmoil has exposed the deep paradox in Europe’s pursuit of strategic independence.

First, the contradiction between autonomy and unity. Macron’s actions were intended to demonstrate Europe’s ability to act independently, but instead failed to fully coordinate its allies, and instead exposed and exacerbated divisions within the EU. Without a unified stance, the power of “autonomy” is scattered and easily exploited.

Second, there is a disconnect between idealism and geographical reality. The logic behind the French initiative is a kind of “great power politics” thinking, in which conflicts are managed through dialogue between major powers. However, the essence of the Ukrainian war is a local hot war involving the survival of territorial sovereignty. Ignoring the will and sense of security of the country directly involved, Ukraine, any “peace architecture” between major powers lacks moral legitimacy and practical foundation.

Third, there is a hasty response to the anxiety of the “post-American era”. European concerns about U.S. policy uncertainty are real, but the rush to find a “Plan B” could lead to strategic mistakes. True strategic autonomy should be based on strong common defense capabilities, solid internal unity and a clear and coherent strategy towards Russia, rather than just an independent diplomatic channel.

On February 14, the China Central Radio and Television Station's "2026 Spring Festival Gala" successfully completed its fifth rehearsal. Creative programs, singing and dancing, acrobatics, opera, martial arts, sketches, magic and other types of programs were all on display, creating a strong auspicious and festive atmosphere. The main venue and the four branch venues are connected naturally and smoothly. At this point, this "cultural New Year's Eve dinner", which conveys happiness and beauty in reunions and joyful gatherings, is ready and will accompany Chinese people around the world and overseas friends to celebrate the New Year happily.

My heart is at peace and my love is deep and lasting

Go home, take the most familiar road, and go to the warmest appointment. Li Jian used a song "Human Resonance" to gently lift up the gratitude accumulated over the years and tell the precious moments of similar experiences and connected hearts in the vast sea of ​​people. Ren Suxi and Mao Buyi sang the song "Goodbye and You Are Well", sending their greetings for reunion after a long separation with warm and healing singing. "The Moment You and I Experience" brought by Faye Wong uses a clear and ethereal singing voice to express the fate of people meeting and knowing each other and the warmth that illuminates each other in a century-long river. American singer John Legend and French singer Hélène Rollès jointly presented "Love Suite", a classic and moving melody with unswerving affection.

The whole family sat around and laughed. Cai Ming continued his relationship with "robots" after 30 years. The sketch "Grandma's Favorite" tells the story of the tender care and concern between the grandfather and grandson in the joyful interaction. The comedy short "You Gotta Like It" humorously depicts a young couple immersed in "swiping their mobile phones", from a situation where it is difficult to control themselves to being rational and independent. It uses laughter close to life to trigger thinking about the "interesting" and "meaningful" aspects of social media products. The magic show uses familiar props in life, inviting the audience to participate together, and jointly freeze a New Year surprise that "we are together in the world at this time".

Vigor and vitality welcome the new beginning

During the New Year, we set off with the vigor of a prancing horse and a whip, showing the rising power of the north and south of the country. Follow the beating rhythm and say "Congratulations, Congratulations" to each other; accompanied by the melody of "Happiness Comes to Your Hands", welcome the good luck and good fortune. Aaron Kwok and Wang Yibo collaborated on the song "Shine and Move", which brings everyone full of energy in dynamic rhythms and cool street dances, and embraces a better life in a full state.

Glistening workers gathered on the stage, glowing with confidence. The micro-musical "Every Light" invites representatives of the winners of the World Skills Competition to sing on stage, showing the confident style of "three hundred and sixty lines, and the best in every line". The song "Building the Future Intelligently" integrates cutting-edge technological elements such as VR glasses, Beidou navigation, and drones into a futuristic song and dance arrangement. Jordan Chan, Jerry Yan, Luo Jiahao, and Yi Yangqianxi sang the pride of going from Made in China to Made in China Intelligently. The song "Searching for Dreams in Mountains and Seas" pays tribute to all Chinese people who are hardworking, enterprising, hardworking and dedicated, and welcomes a new spring with joyful hearts and successful careers.

The four branch venues used warm emotions and unique expressions to spread the vitality of China into a broad New Year picture. The audience stayed at the Harbin branch venue in Heilongjiang and enjoyed the fiery Chinese New Year in the ice and snow; in the Yiwu branch venue in Zhejiang, they felt the atmosphere of sharing their own beauty with Chinese and foreign singing and dancing; the Huangmei opera and ink painting at the Hefei branch in Anhui brought a beautiful picture of "Wan" to the audience; the hot and intangible cultural heritage elements at the Yibin branch in Sichuan expressed the spirit of forging ahead courageously.

Thousands of houses are illuminated with lights and singing to welcome the New Year. Meet at 8 pm on February 16, China Central Radio and Television’s "2026 Spring Festival Gala" will accompany you to celebrate the New Year happily!

This year's Munich Security Conference kicked off in the cold wind and rain, and the differences were evident from the pre-conference report: the cover showed a conspicuous elephant, and the title read "Being Destroyed." The content pointed out that the United States was a "destroyer" of the post-war international order, and the cracks in the "solid friendship" between the United States and Europe were visible.

At last year's Security Council meeting, Foreign Minister Wang Yi said, "Countries that undermine the international order have emerged, and Europe feels chills every day." Now his words have come true. From threatening to acquire Greenland, to weaponizing trade, to vacillating on key security issues such as the Ukraine crisis, the United States has sent a real chill through Europe. If last year's European reaction was reactive, this year's goodwill towards China has more rational thinking behind it.

At present, von der Leyen declared at the Munich Security Council: "Europe's moment of independence is now." The leaders of Britain, France and Germany have successively made it clear that they want to get rid of over-reliance on the United States. If Europe wants to pursue strategic independence and break its development dilemma, it must find a new way out, and China happens to be the most reliable stabilizing force.

However, whether it is Western leaders queuing up to visit China, or Foreign Minister Wang Yi receiving attention from various countries during the Munich Security Council meeting, behind these "smiling faces" we also need to be clearly aware of the "three truths". Europe's disappointment in the United States is real, and its need for cooperation with China is real, especially in the fields of trade, investment, and green transformation, but its hesitation towards a "complete turn" is also real. Regardless of deep political and economic dependence, the United States' 300 large and small military bases in Europe are a hurdle that cannot be overcome first.

Europe is slowly waking up, but the reality remains grim. If you always make verbal statements and lack practical actions, those who do not sit at the table will one day appear on the menu.

Why is it difficult to determine the president’s physical condition?

On January 22, 2026, at the World Economic Forum in Davos, Switzerland, President Trump had obvious bruises on the back of his left hand.

President Trump has been on the world stage for more than a decade, during which time he has repeatedly delivered speeches that jump out of style. Although he calls himself a "brilliant" art of expression, it often appears incoherent to outsiders. However, is this situation getting worse?

Since Trump returned to the White House a year ago, online public opinion has continued to debate the health of the 45th and 47th president. Incoherent speech and behavior, mysterious bruises on his hands and swollen ankles have left the public with lingering doubts: Is Trump really in good health?

"New York Magazine" reporter Ben Treese recently wrote an article that explored this issue in depth. In an interview with Astrid Herndon, co-host of the "Today's Analysis" podcast, he said that the answer is far more complicated than imagined.

The following are excerpts from the conversation, edited to ensure appropriate length and logical clarity.

What was the impetus for this report?

We've followed him over the years, but this past year the questions surrounding him have exploded: How is his health? Why are there bruises on my hands? Why are ankles swollen? And why do you frequently doze off during important meetings?

Before formally interviewing him, I studied several books written by his family members and interviewed his niece Mary Trump specifically. Mary admitted that sometimes when watching Donald Trump speak in public, she would have an illusion, as if she saw the shadow of her grandfather when he was suffering from Alzheimer's disease. I couldn't tell whether he was sick, but this became the focus of my face-to-face verification.

When asked, he began to ramble: "My father has always been in good health and has no problems. His heart never stops beating."

However, when the conversation changed, Trump told me: "But he does have a problem." Trump paused for a moment, pointed to his head and asked: "You got it in your later years… What is that called?"

Press secretary Caroline Leavitt, who was sitting nearby, immediately came to the rescue: "It's Alzheimer's disease."

He immediately changed his mind: "Yes, yes, he has Alzheimer's disease. But, I don't have it."

What concerns have you uncovered about Trump's health?

My original intention was to explore his personal health, but I ended up with a story about the "health" of this administration. There is a certain pathology that pervades Trump’s inner circle—everyone talks about him in an almost maniacal, North Korean-style “Dear Leader” tone.

They no longer objectively comment that "for an old man who is nearly eighty years old, he is in good health" or "although he is a little slow, he is definitely qualified for the office of president." Instead, there were extremely ridiculous compliments: he said he had a "superhuman" body and was "the healthiest man in the world." He even told me personally, "I am healthier now than I was 40 years ago."

However, the reality is that this man neither exercised nor paid attention to his diet, and drank enough Diet Coke to fill a football stadium. Even more disturbing is the fact that the people around him are no longer trustworthy. I think this report is not only a revelation of Trump’s personal health, but also a reflection of the American political ecology under Trump.

Regarding the bruise on his hand, did you find out the cause or severity?

When I walked into the Oval Office for the interview, we shook hands. Unexpectedly, his palms were soft and warm, but the back of his hands was extremely dry and covered with huge bruises like rhinoceros skin.

When asked by me, Trump claimed that he had been taking aspirin for a long time, and the dose was far higher than what doctors recommended, in order to thin the blood. Because of the overdose, he was prone to subcutaneous bleeding.

The accompanying doctor confirmed this statement. The doctor explained that due to his constitution, which is prone to bruises, and the fact that as president he needs to shake hands frequently, the backs of his hands are always covered with bruises.

I'm curious about how that works and how open they are to discussing the president's health.

Early in the interview, I made my reporting intentions clear to the White House: There were major questions about the president's health, and many outsiders thought they had the answers, but I wanted to get to the bottom of it. There are very few people who are truly informed – only Trump himself, his core staff and medical team. Surprisingly, they provided me with a large number of interview subjects.

Although it was not yet certain that I would be able to interview Trump himself, the White House specially arranged for me to go to the White House for talks with Marco Rubio before meeting with him. The multi-tasking senator took a break from his busy schedule to talk to me in Carolyn Leavitt's office to talk about how the president is "too healthy."

The details Rubio recounted were ironic and, to some extent, self-deprecating. "While on Air Force One, I needed a nap, so I wrapped myself in a blanket to hide myself. I was like a mummy, wrapped head-to-head," he recalled.

Rubio said frankly: "Because I know that Trump will always appear from the cabin during the flight and patrol the corridor to see who is awake. I hope he thinks it is a staff member who has fallen asleep. I don't want him to see the Secretary of State napping on the sofa and think, 'This guy is too weak.'"

How does his doctor assess health status?

When I walked into the Oval Office, the doctors there were holding sheets of paper with "talking points" on them, clearly having a set advocacy agenda to advance.

Doctors told me the president's health was as strong as he said he was. One of them mentioned that they conducted an electrocardiogram test, and according to artificial intelligence data analysis, Trump's heart condition was equivalent to that of a 64 or 65-year-old person.

At the end of the interview, Carolyn Levitt turned to one doctor and said, "Oh, you've worked for the Obamas, right?" So I asked, "So who's healthier? President Obama or President Trump?"

At this time, Trump was sitting across the desk and looking directly at the doctors. The doctor responded without hesitation: “President Trump, of course.”

Ever cringe while covering Trump?

After experiencing the Biden era, reporting on such topics has become easier. Although the truth is still confusing, people may be more willing to talk about it.

Witnessing Biden's gradual aging in the public eye has broken the previous taboo of the media being overly sensitive to the topic of aging, making reporters more willing to follow such reports and editors more daring to choose topics.

Is this a fair comparison?

The comparison is entirely justified simply by their advanced age. Donald Trump is about to turn 80. That fact alone is newsworthy.

I think one of the reasons Trump is able to get away with certain possible signs of aging is that they overlap closely with his long-standing personal traits—so-called “Trumpian traits.”

He has long been a chaotic presence, speaking incoherently and often making out-of-control and ridiculous remarks. This was true fifteen years ago, and it is true now. But is there any difference between the way he expresses himself now and then? The answer is yes. It’s just that this change is far less glaring than when Biden showed signs of decline. Biden was once a serious, traditional politician who stood out when he made mistakes.

I want to explore a seemingly similar phenomenon:

The president and his staff will never tire of telling you: Don’t believe your own eyes. For example, when Trump takes a nap during a meeting, aides will explain that "that's just the way he thinks."

There's one thing I didn't include in the report – I'm going to share this exclusive information with you for the first time here.

I did interview several people from the Biden White House to write this story. They obviously did not want to be named, but one of them admitted that he did have similar feelings when witnessing the scene today.

I have a quote to share about Biden's health: "I think there was a point where we were in denial so much that what the public saw was different from what the authorities said, and that created a crisis of trust. People can no longer deny what they saw. They're repeating the same mistakes and putting themselves in the same desperate situation we had."

Part of Trump’s widespread success and appeal stems from his ability to convince his followers of his constructed version of reality. Do you think his strategy on health is working?

It’s like many of the problems Trump faces today: He has a base of unqualified supporters, but the middle group between supporters and opponents is increasingly difficult to convince.

Trump appears to be losing his ability to control the narrative. His poll numbers are far from expectations, the midterm election situation is moving in an unfavorable direction, and even his most important immigration issue has failed to advance as expected.

His attempt to control his own health narrative is essentially the same as his attempt to control everything, and I feel like he's losing that control. This is not uncommon for presidents, but that's what makes them lame ducks. Critics have begun calling him a lame duck, and signs of such a decline in power typically don't show up until the third year of a president's term.

About the author

Kelly Weisinger and Astrid Herndon

This article is compiled based on the content of the "Today's Analysis" podcast.

In the early morning of February 13, Beijing time, U.S. stocks fell in midday trading on Thursday, with the Dow Jones Industrial Average falling more than 600 points. Silver and crude oil prices tumbled. Traders are weighing earnings reports from major companies including Cisco Systems and McDonald's. The number of people filing for unemployment benefits in the United States fell to 227,000 last week.

The Dow fell 609.34 points, or 1.22%, to 49512.06 points; the Nasdaq fell 355.58 points, or 1.54%, to 22710.89 points; the S&P 500 fell 84.95 points, or 1.22%, to 6856.52 points.

As of press time, spot silver has fallen 11% and is now at $74.80 per ounce, while WTI crude oil has fallen by 3% and is now at $62.69 per barrel.

Cisco Systems shares fell 11.7% after the maker of networking hardware such as switches and routers issued disappointing guidance for the current quarter. The company's revenue in the second fiscal quarter exceeded expectations by 10% year-on-year, and the growth of AI infrastructure orders from hyperscale cloud vendors "significantly accelerated" to US$2.1 billion. Revenue guidance for this fiscal year was raised by at least more than 1%, and revenue guidance for the third fiscal quarter was higher than expected. However, gross profit margin guidance for the third fiscal quarter fell instead of rising, with a maximum year-on-year drop of more than 3 percentage points to 65.5%, which was wider than the decline in the second fiscal quarter.

McDonald's announced earnings that beat expectations. The company reported fourth-quarter revenue of $7.01 billion, beating consensus estimates of $6.81 billion, while adjusted earnings per share of $3.03 was in line with analysts' expectations. Global comparable sales grew 5.7% in the quarter, significantly exceeding analysts' average estimate of 3.7%. U.S. comparable sales rose 6.8%, reversing a 1.4% decline in the same quarter last year.

U.S. stocks closed lower on Wednesday, with the Dow Jones Industrial Average closing slightly down 0.1% and the Nasdaq Composite Index down about 0.2%. The S&P 500 ended the day slightly lower. The January non-farm employment report released that day showed that the number of jobs increased significantly by 130,000 last month, which was much higher than economists' expectations and much higher than the downwardly revised increase in December. The unemployment rate edged down to 4.3% from 4.4%.

The January non-farm payrolls report provided some relief to investors who had worried that the report would show a decline in the labor market. A series of recent data indicate that economic growth is slowing down in a "no hiring, no layoffs" environment.

But the strong jobs data also cast a shadow on the Fed's interest rate outlook. If high inflation remains a problem, that could mean fewer rate cuts than traders would like.

However, Moody's chief economist Zandi said don't be too reassured by this set of optimistic data. He does not think growth can be sustained. Zandi has repeatedly warned that the foundation of the U.S. economy is unstable and may slip into recession at any time. He posted on the X platform on Wednesday that the latest employment data did not alleviate his concerns at all.

He said: "The labor market remains fragile and extremely vulnerable to shocks. Yes, non-farm employment increased by 130,000 in January, but considering the significant downward revision of historical data, employment has not grown at all since Trump significantly increased tariffs in April last year."

Zandi also emphasized that almost all job growth in January came from the health care industry, which he believed did not bode well for the overall U.S. economy.

"This will put a lot of pressure on Friday's CPI report because if the data is dovish, at least the market can understand that the inflation part of the Fed's considerations is cooling down," said Tom Lee, director of research at Fundstrat Global Advisors.

"Certainly now if the job market is showing quite a bit of resilience, that's a relief from a macro perspective because at least we're not seeing a recession," he said.

In terms of economic data on Thursday, the number of people filing for unemployment benefits in the United States fell to 227,000 last week, a smaller-than-expected decline.

The U.S. Department of Labor announced on Thursday that the number of initial jobless claims fell by 5,000 to 227,000 on a seasonally adjusted basis for the week ended February 7. Economists polled by Reuters had expected 222,000 initial claims for the week.

Last week's decline offset only a fraction of the previous week's surge, which was blamed on the snowstorms and freezing weather that swept much of the country and a normalization after seasonal fluctuations late last year and early 2026.

The report shows that in the week ended January 31, continuing unemployment benefits data, which is a hiring indicator, increased by 21,000 people to 1.862 million people after seasonality adjustment, which is also affected by seasonal fluctuations.

Although the number of long-term unemployed persons fell in January, the median duration of unemployment remains close to where it was four years ago. Fresh college graduates are facing severe employment difficulties.