On May 4, 2026, the U.S. Department of the Treasury released its financing estimate, projecting net marketable borrowing of $671 billion for the July–September quarter and assuming a cash balance of $950 billion at the end of September.
On the afternoon of May 4, an explosion occurred in a workshop of Huasheng Fireworks Display Co., Ltd. in Guandu Town, Liuyang City. The accident ultimately left 26 people dead and 61 injured. The Changsha Municipal Party Committee and Municipal Government subsequently held a press conference to apologize.
US Treasury Secretary Bessent said President Trump will use his trip to Beijing to exchange views on the US-Iran conflict, accusing China of buying 90% of Iran's energy and financing state sponsors of terrorism.
On the evening of local time May 4, Iran launched drone and missile attacks against targets inside the UAE, the Fuchaila oil industrial zone caught fire, shelter alarms sounded across the UAE, air defense systems intercepted multiple incoming missiles and drones, injuring three Indian nationals, marking the formal end of the US-Iran ceasefire agreement.
The cruise ship JV Innovation, flying the Marshall Islands flag and leased and owned by a Chinese company, was attacked by Iran's Revolutionary Guard at the entrance to the Strait of Hormuz, with Chinese crew members on board.
A large product tanker owned by a Chinese shipowner was attacked by Iran's Islamic Revolutionary Guard Corps off the port of Fujairah in the UAE, causing a fire on deck.
A couple in Hubei had their young daughter proclaim in a video that traditional Chinese dietary principles are superior to Western nutrition and that protein should be rejected, drawing criticism from netizens over childhood malnutrition and extreme health-cult misconceptions.
A violent explosion occurred at a fireworks factory in Liuyang, Changsha, Hunan, causing widespread destruction with casualties exceeding one hundred people.
On May 4, 2026, the High Court of Hong Kong granted a restraining order applied for by the Department of Justice, freezing HK$8.93 billion in assets belonging to 42 people including Chen Zhi and their associated companies.