Economy

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

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