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China's gross domestic product (GDP) grew 5 percent year on year in 2025, meeting the annual target of around 5 percent, official data showed Monday. China's GDP reached a record of 140.1879 trillion yuan (about 20.01 trillion U.S. dollars) last year, data from the National Bureau of Statistics (NBS) revealed. In the fourth quarter, the economy expanded 4.5 percent from a year earlier and grew 1.2 percent from the previous quarter, the NBS said. Despite a complex domestic and

Canadian Prime Minister Mark Carney said Canada and China have reached an initial trade agreement that will significantly reduce tariffs on electric vehicles and canola, marking a major step toward rebuilding bilateral economic ties. Speaking to reporters in Beijing on Friday, Carney reaffirmed Canada’s commitment to strengthening cooperation with China through expanded trade, investment, and strategic partnerships. The visit is the first by a Canadian prime minister since 20

China and the European Union have reached a “soft landing” in their long-running talks over electric vehicles (EVs), a development that could give a boost to bilateral trade, the China Association of Automobile Manufacturers (CAAM) said Tuesday. After multiple rounds of consultations guided by mutual respect and WTO rules, both sides agreed on price undertaking guidance for Chinese battery EV makers. Under this framework, eligible Chinese exporters can propose voluntary price

China's largest offshore oilfield, the Bohai Oilfield, has produced over 40 million tonnes of oil equivalent in 2025, setting a historical record, the China National Offshore Oil Corporation (CNOOC) announced Sunday. As the country's leading offshore oilfield in terms of both output and scale, the record production will provide solid support for national energy security and high-quality economic and social development, according to CNOOC. A worker prefabricates steel for Boha

China's courier sector reached a new milestone on Sunday as annual parcel volume surpassed 180 billion items for the first time, underscoring the robust growth of the country's postal and express delivery industry and the strong momentum of its economy, according to the State Post Bureau on Monday. Real-time monitoring by the bureau showed the 180 billion mark was reached after an online order for a smart learning device was placed by a resident in Shenzhen, Guangdong provinc

New energy vehicles (NEVs) accounted for more than half of China's new car sales for the first time by October, according to data released Tuesday by the China Association of Automobile Manufacturers (CAAM). The data showed that NEV sales reached 1.715 million units in October, representing 51.6 percent of total new car sales. NEV production for the month stood at 1.772 million units, up 21.1 percent year on year, while sales rose 20 percent from a year earlier. NEVs Make Up

Starting on Wednesday, many primary and secondary schools in China's Zhejiang, Guangdong, and Sichuan provinces began their first-ever autumn breaks, which drove up airfares.  Statistics that industry information provider Umetrip sent to the Global Times on Thursday showed that from November 12-23, the average price (excluding tax) for domestic round-trip tickets to Sichuan, Zhejiang, Guangdong, and Hubei was approximately 700 yuan ($98.41), an increase of about 7 percent yea

China's foreign exchange reserves totaled 3.3433 trillion U.S. dollars at the end of October, an increase of 4.7 billion U.S. dollars, or 0.14 percent, from the end of September, official data showed on Friday. The State Administration of Foreign Exchange stated in a statement that the U.S. dollar index rose and global financial asset prices generally increased last month, influenced by factors such as macroeconomic data, monetary policies and economic outlooks in major econo

Chinese Premier Li Qiang reaffirmed China's commitment to advancing high-quality growth and expanding its high-level opening up to the world, during a keynote speech at the opening ceremony of the eighth China International Import Expo (CIIE) and the Hongqiao International Economic Forum in Shanghai on Wednesday. Li emphasized that China will steadily broaden institutional openness and accelerate the opening of its services sector through comprehensive pilot programs. He unde

U.S. coffee giant Starbucks Coffee Company announced on Tuesday that it has entered into an agreement to form a joint venture with Boyu Capital, a leading alternative investment firm, to operate Starbucks retail in China. Under the agreement, Boyu and Starbucks will operate a joint venture with Boyu holding up to a 60-percent interest in Starbucks' retail operations in China, while Starbucks will retain the remaining 40-percent interest in the joint venture, and continue to o

China has agreed to suspend additional export controls on rare earth metals and end investigations into U.S. chip companies, marking a significant step toward easing tensions in the ongoing trade conflict with the United States. The White House released a fact sheet late Saturday detailing the agreement reached last week between Chinese President Xi Jinping and U.S. President Donald Trump in South Korea. As part of the deal, the United States will pause certain reciprocal ta

Leaders and experts from around the world gathered in Beijing on Monday for the Annual Conference of the Financial Street Forum 2025, spotlighting the need for a resilient, inclusive, and sustainable global financial system. The four-day forum, running through Oct. 30, comes amid rapid innovation, shifting global financial landscapes, and mounting economic challenges. Organizers called for strengthened collaboration, accelerated transformation, and a more forward-looking appr