Business

Chinese scientists have developed a new oil refining method they say could slash energy use by as much as 90 percent — a breakthrough that could significantly reduce the cost and environmental footprint of turning crude oil into fuels and other products. The new technique targets crude oil at the molecular level, allowing researchers to separate and process its components more precisely than with conventional refining methods. That could mean using substantially less energy w

China's total oil and gas output reached 420 million tonnes of oil equivalent in 2025, a new record high, according to a report released by the National Energy Administration (NEA) on Tuesday. Crude oil output hit an all-time high of 216 million tonnes in 2025, while natural gas output registered an annual increase of over 10 billion cubic meters for the ninth consecutive year, marking a notable improvement in the country's independent energy security capacity, according to t

BEIJING, June 30 (Xinhua) -- China will impose provisional anti-dumping measures on imported pea starch originating from Canada starting July 1, the Ministry of Commerce said Tuesday. The announcement follows a preliminary ruling in an anti-dumping investigation launched by the ministry on Aug. 12, 2025. The investigating authority preliminarily determined that imported pea starch originating from Canada had been dumped, causing material injury to China's domestic industry, w

China saw 25,297 newly established foreign-invested firms in the first five months of 2026, a year-on-year increase of 5.3 percent, according to data released on Monday by the Ministry of Commerce. During this period, actual foreign direct investment (FDI) inflow totaled 327.29 billion yuan (about 48.03 billion U.S. dollars), down 8.6 percent year on year. However, FDI in May alone rose 5.9 percent year on year, the data showed. By sector, manufacturing attracted 86.97 billio

China's commerce ministry, alongside other government departments, released an action plan on Monday to stabilize and optimize foreign investment utilization. The action plan details 15 measures to be taken across five areas, which include expanding market access, facilitating investment procedures, enhancing investment promotion, strengthening services and guarantees for foreign investment, and improving foreign capital management. The plan prioritizes expanding market acces

China will take more concrete steps to continuously advance capital account opening-up and facilitate cross-border investment and financing, Zhu Hexin, deputy governor of the People's Bank of China and head of the State Administration of Foreign Exchange, said Wednesday. Zhu made the remarks while delivering a keynote speech at the 2026 Lujiazui Forum in Shanghai. He noted that China's capital account opening-up policies have been steadily improved in recent years and have ef

China's courier sector saw steady growth in May, according to an industry index released by the State Post Bureau Monday. The express delivery development index stood at 472.9 in May, up 3.1 percent from the same period last year, according to the bureau. Included in the figures, the sub-index for development scale rose 7 percent year on year, while service quality figures remained unchanged from a year earlier. The sub-index for development capacity increased 3.3 percent. In

China's foreign trade maintained steady growth momentum in May, underscoring the resilience of the wider economy and its deepening integration with global markets. The total value of goods imports and exports in yuan-denominated terms grew 16.9 percent year on year to reach 4.45 trillion yuan (about 653 billion U.S. dollars) last month, remaining above 4 trillion yuan for three consecutive months, data from the General Administration of Customs (GAC) showed Tuesday. Exports r

China has overtaken Japan as Australia's largest source of imported vehicles, driven by rising shipments from automakers such as BYD and growing demand for electric and hybrid cars. Nearly 36,000 passenger vehicles from China arrived in Australia in April, compared with about 29,000 from Japan, according to data released on Thursday by the Australian Bureau of Statistics. The figures brought Chinese vehicle imports to more than 100,000 units in the first four months of 2026,

China has unveiled an 18-point action plan to stabilize employment and raise incomes, including measures designed to shield the labor market from external shocks such as trade wars and geopolitical tensions, according to a government document released recently. The plan, titled "Action Plan for Stabilizing Employment, Expanding Capacity and Improving Quality", was approved on April 30 by the State Council's leading group on employment promotion. "Employment is the most fundam

Since the beginning of 2026, a number of small and medium-sized Chinese banks have increased their registered capital through share issuances and capital injections to enhance risk resilience and improve their capacity for sustainable development and support for the real economy. Last month, Bank of Zhangjiakou increased its registered capital by about 15 percent, from 10.56 billion yuan ($1.56 billion) to 12.15 billion yuan. Bank of Nanjing announced on May 19 that its regis

The People's Bank of China, the country's central bank, announced on Thursday that it will conduct a 500-billion-yuan (about 73.3 billion U.S. dollars) outright reverse repo operation on Friday to maintain ample liquidity in the banking system. The operation will have a fixed quantity and be carried out through interest-rate bidding, with winning bids determined at various price levels. It will have a tenor of three months, or 92 days, with a maturity date of Sept. 5, accordi

China's Ministry of Commerce said Thursday that over 100 events aimed at boosting the nation's imports are to be held in 2026, bringing more high-quality goods from around the globe to Chinese enterprises and consumers. The first overseas event will take place in Belarus on June 7, followed by another in Germany on June 11, marking the events' debut in the European Union, ministry spokesperson He Yongqian said at a press conference. The events, themed "Exports to China," will

China's airlines will slash fuel surcharges for mainland routes on tickets sold from June 5, Air China and other airlines disclosed Tuesday. The surcharge will be cut to 80 yuan (about 11.73 U.S. dollars) per segment for routes of 800 km or less, and 150 yuan for longer routes. Infants are exempt from the surcharge, while children, disabled servicemen, and disabled police officers will get a 50 percent discount. Compared with current rates, the surcharge will drop by 10 yuan

China's Ministry of Culture and Tourism, together with six other government departments, has issued a notice encouraging enterprises in the aerospace, shipbuilding, automotive and robotics sectors to develop themed visitor factories under the premises of safety and confidentiality, aiming to further expand the nation's cultural tourism formats and scenarios. The notice encourages enterprises in equipment manufacturing, consumer goods and e-commerce logistics to innovate with

China's top internet regulator has announced a two-month nationwide campaign to tackle harmful online information related to enterprises, starting Friday. The initiative aims to address the spread of infringing and malicious content about businesses, with a focus on swiftly removing such material and the accounts responsible, according to a statement from the Cyberspace Administration of China. During the campaign, internet regulators across the country will urge websites and

China's consumer market maintained stable performance in the first four months of 2026, as a raft of pro-consumption policies continued to take effect, according to the Ministry of Commerce. In April, demand for green and smart products remained robust. Data from the ministry showed that sales of smart glasses on major monitored platforms surged 5.9-fold year on year last month, while sales of handheld cameras rose 26.9 percent from a year earlier. The country's new energy ve

Companies and institutions from the United States have ranked first among foreign exhibitors at the China International Supply Chain Expo for four consecutive years, from the inaugural event to this year's fourth edition, the China Council for the Promotion of International Trade said on Friday. The US business community's active participation, experts said, underscores the enduring pull of the Chinese market and the deep integration of US supply chains with China's manufactu

The People's Bank of China on Friday announced that it will carry out a 600-billion-yuan (about 87.7 billion U.S. dollars) one-year medium-term lending facility (MLF) operation on May 25, aiming to maintain adequate liquidity in the country's banking system. The central bank said this MLF operation will be conducted through variable-rate tenders with a fixed quantity, using a multiple-price auction. With a 500-billion-yuan MLF maturing this month, the move will result in a ne

China's postal industry recorded stable growth in both revenue and delivery volume in the first four months of 2026, data released by the State Post Bureau showed on Wednesday. From January to April, the postal sector handled 70.16 billion parcels, up 4.1 percent year on year. Express deliveries accounted for 64.57 billion parcels, growing 5.1 percent. A postal worker packs mail at the township branch of China Post in Chunhua township of Hunchun city, Northeast China's Jilin