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China will intensify efforts to upgrade its fast-growing services sector, aiming to foster an open, competitive and high-quality ecosystem that benefits both Chinese consumers and global providers, experts and executives said. To achieve this vision, the State Council — China's Cabinet — unveiled on Tuesday plans designed to steer producer services toward "greater specialization and higher positions in the value chain", while making consumer services "more quality-oriented, d

China's catering revenue rose in the first quarter, supported by seasonal offerings and a shift toward outdoor and experience-driven dining, underscoring the sector's role as a steady pillar of consumption. Data released by the National Bureau of Statistics showed catering revenue reached 1.46 trillion yuan ($213.9 billion) in the first three months, up 4.2 percent year-on-year. Revenue from larger catering enterprises climbed 3.8 percent to 422.9 billion yuan. Growth moderat

China's civil aviation sector handled 66.63 million passenger trips in March, up 12.1 percent year on year, the country's civil aviation authority said on Monday. Data released by the Civil Aviation Administration of China showed that passenger trips on domestic routes totaled 59.51 million in March, up 11.5 percent from a year earlier. Passengers board a plane at Xianyang International Airport in Xi'an, Shaanxi province, on Feb 6. [Photo by Yuan Jingzhi/For China Daily] Pass

China's economy grew 5 percent in the first quarter of 2026, outpacing expectations of some foreign institutions and reinforcing the country's role as a stabilizing force in an increasingly volatile global economy. The world's second-largest economy generated 33.4 trillion yuan (about 4.87 trillion U.S. dollars) in output during the period, accelerating by 0.5 percentage points from the fourth quarter of 2025, data from the National Bureau of Statistics (NBS) showed Thursday.

The International Monetary Fund on Tuesday projected China's economy to expand by 4.4 percent in 2026, a forecast that underscores the country's resilience amid global headwinds from the Middle East conflict. The forecast was unveiled during the 2026 Spring Meetings of the IMF and the World Bank Group, or WBG, held in Washington from April 13 to 19. The latest World Economic Outlook was released as the heads of the IMF, the WBG, and the International Energy Agency met on Mond

China will continue to implement control measures regarding retail prices of gasoline and diesel from Wednesday, aiming to mitigate the impact of rising international oil prices on its domestic market, the country's top economic planner said on Tuesday. Since the adjustment of domestic oil prices in late March, international crude oil prices have experienced significant fluctuations, the National Development and Reform Commission (NDRC) said in a statement. Based on the exist

China's government-backed consumer goods trade-in programs benefited over 60.93 million purchases in the first quarter of 2026, boosting sales of 433.17 billion yuan (about 62.84 billion U.S. dollars), commerce ministry data showed Friday. A total of 1.41 million subsidy applications were received for auto trade-ins, driving new vehicle sales of 228.69 billion yuan in Q1. People shop for smartphones and other consumer electronics eligible for the Chinese government's trade-in

China's industrial sector got off to a robust start in 2026, with profits of major industrial enterprises accelerating in the first two months of the year, underpinned by the strengthening of high-tech sectors and highlighting improving business conditions amid strong policy support, official data showed on Friday. Analysts said the upbeat figures add to a broader set of indicators suggesting China's economy is gaining strong momentum at the start of the year, reinforcing exp

China’s foreign trade increased by 18.3 percent in the first two months of 2026, signaling a strong start to the year, according to data released Tuesday by the General Administration of Customs. Total trade in goods reached 7.73 trillion yuan (about US$1.12 trillion). Exports climbed 19.2 percent year-on-year to 4.62 trillion yuan, while imports rose 17.1 percent to 3.11 trillion yuan. Trade with major partners continued to grow. Commerce with the Association of Southeast As

China has announced that it will change export tax rebates for a range of products, including photovoltaic and battery products. The announcement, jointly issued by the Ministry of Finance and the State Taxation Administration, said that export tax rebates for the value added tax of photovoltaic products will be canceled starting from April 1, 2026. Meanwhile, the export tax rebate rate for the value added tax of battery products will be reduced from 9 percent to 6 percent st

Chinese Vice-Premier He Lifeng's speech in Davos, Switzerland, on Tuesday drew international praise as a timely reaffirmation of China's role as a stabilizing force in an increasingly volatile world and a defender of free trade and globalization amid rising protectionism. He, also a member of the Political Bureau of the Communist Party of China Central Committee, delivered a speech at the World Economic Forum Annual Meeting 2026 in the Swiss Alps town, calling on the internat

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