InfoseekChina

China's PPI up 3.9 pct in May

2026-06-10T03:20:46.148-07:00

(Xinhua) China's producer price index (PPI), which measures costs for goods at the factory gate, went up 3.9 percent year-on-year in May, an increase of 1.1 percentage points from April, the National Bureau of Statistics (NBS) said Wednesday.

Among industries with rising prices that contributed to the year-on-year PPI rise last month, the mining and processing of non-ferrous metal ores increased by 36.5 percent and the smelting and rolling of non-ferrous metals rose by 24 percent. The extraction of petroleum and natural gas, processing of petroleum, coal and other fuels, and manufacturing of chemical raw materials and chemical products also logged notable price increases, the data showed.

The manufacturing of non-metallic mineral products, the production and supply of electric power and heat, and automobile manufacturing recorded price decreases, the data showed.

On a month-on-month basis, PPI rose 0.5 percent in May, down from 1.7 percent in April, the NBS data showed.

NBS statistician Dong Lijuan, in an analysis of month-on-month changes in PPI last month, said the optimization and upgrading of the industrial structure drove up prices in some sectors, seasonal increases in demand led to price rises in certain industries, and fluctuations in international crude oil prices caused prices in some industries to either turn from increases to decreases or see their growth moderate.

From January to May, the PPI increased by an average of 1 percent year-on-year, the data showed.

Wednesday's data also showed that China's consumer price index (CPI), a main gauge of inflation, rose 1.2 percent year-on-year in May. The core CPI, which excludes food and energy prices, increased 1.1 percent year-on-year.

Source: Xinhua 2026-06-10 13:09:00

China's CPI up 1.2 pct in May

2026-06-10T03:17:34.420-07:00

(Xinhua) China's consumer price index (CPI), a main gauge of inflation, rose 1.2 percent year on year in May, official data showed Wednesday.

The core CPI, which excludes food and energy prices, increased 1.1 percent year on year, according to the National Bureau of Statistics.

On a month-on-month basis, CPI edged down 0.1 percent in May, the data revealed.

Wednesday's data also showed that China's producer price index, which measures costs for goods at the factory gate, went up 3.9 percent year on year in May.

Source: Xinhua 2026-06-10 10:09:45

Demand, policies fuel foreign trade

2026-06-10T03:14:12.661-07:00

(China Daily) China's import growth outpaced export expansion by nearly 9 percentage points in the first five months of 2026, underpinned by robust domestic demand and broader market-opening measures, economists and government officials said on Tuesday.

They said two key policy initiatives will sustain strong import momentum throughout the year. The Ministry of Commerce's "Big Market for All: Export to China" campaign has broadened access to China's vast consumer and industrial markets for global exporters. The government's expanded zero-tariff treatment for all African countries that have diplomatic ties with China, which took effect on May 1, is also expected to support import growth.

China's foreign trade grew 15.3 percent year-on-year to 20.68 trillion yuan ($3.05 trillion) during the January-May period, with exports rising 11.8 percent and imports jumping 20.5 percent, data from the General Administration of Customs showed.

Wang Xiaohong, a researcher at the China Center for International Economic Exchanges in Beijing, said the strong growth in imports reflected the effectiveness of policies aimed at expanding imports, boosting consumption and advancing high-standard opening-up.

For example, China's imports from Africa surged 15 percent year-on-year to 95.13 billion yuan in May alone, marking the ninth consecutive month of growth, customs statistics showed.

The faster growth in imports also underscored China's role as a key engine of global demand, creating new opportunities for overseas exporters and supporting trade flows at a time when many economies are facing slower growth, Wang said.

Lynn Song, chief economist for China at Dutch bank ING, said that both China's imports and exports exceeded expectations in the first five months. This was partly supported by rising prices of high-tech products, which lifted the value of both outbound and inbound shipments.

"The country's trade structure is also becoming increasingly tilted toward technology-intensive goods," he added.

Echoing that view, Sheana Yue, senior economist at British think tank Oxford Economics, said China's industrial upgrading, technological advances and well-established supply chains have enhanced the competitiveness of Chinese products, helping to sustain trade growth and market share gains despite external uncertainties.

Lyu Daliang, director of the GAC's department of statistics and analysis, said China has deepened practical economic and trade cooperation with its partners since the beginning of this year and continued to serve as a stabilizing force for global trade.

Beyond supporting imports, China's broader opening-up efforts and regional trade agreements are also helping both domestic and foreign businesses integrate more deeply into regional supply chains, facilitating both imports and exports.

Techtronic Industries (Dongguan) Co, a Dongguan, Guangdong province-based manufacturer of power tools and outdoor garden equipment, imported goods worth 1.44 billion yuan from other economies of the Regional Comprehensive Economic Partnership agreement between January and May, according to information released by Huangpu Customs in Guangdong.

Zheng Jiancai, the company's head of customs affairs, said the RCEP agreement has helped lower sourcing costs and improve supply chain efficiency while expanding market access across the region.

"Our lithium-ion battery packs are mainly exported to Australia and New Zealand," said Zheng.

"Since the RCEP came into force, raw materials sourced from Malaysia have been treated as originating materials under the agreement, enabling our products to qualify for preferential tariffs and enjoy tariff reductions of up to 5 percent."

In addition to importing key parts and components into China, Marelli Holdings Co, a Japanese automotive parts manufacturer, is expanding its presence in the country in areas such as smart lighting, electronics and intelligent cockpit technologies, underscoring China's growing role in the company's global operations.

"China's highly developed supply chains, rapid commercialization of new technologies and strong engineering capabilities continue to create opportunities for both imports and exports," said Shen Kelei, the group's executive vice-president.

Source: By Zhong Nan | China Daily | Updated: 2026-06-10 07:08

Wealth mgmt scheme to up investment

2026-06-10T03:10:01.923-07:00

(China Daily) As Chinese mainland and Hong Kong authorities recently introduced new rules to regulate cross-border investment activities, market demand for compliant investment channels such as Stock Connect, the Qualified Domestic Institutional Investor program and the Cross-boundary Wealth Management Connect Scheme in the Guangdong-Hong Kong-Macao Greater Bay Area is expected to grow significantly.

Wu Zewei, a special researcher at Jiangsu Su Merchants Bank, said that following the introduction of the new regulations, compliant Cross-boundary Wealth Management Connect Scheme channels may attract more investors as the regulatory environment becomes more stringent. In the medium to long term, the new measures explicitly eliminate unauthorized cross-border business activities conducted by offshore institutions, prompting mainland investors to seek legitimate alternatives.

On May 22, eight mainland government departments — led by the China Securities Regulatory Commission — issued an implementation plan to eradicate illegal cross-border securities, futures and fund business activities within two years.

Some offshore institutions have provided mainland investors with cross-border securities, futures and fund trading services in recent years through online platforms and offline marketing activities without approval from mainland financial regulators. Analysts said the implementation plan's core objective is to cut off the funding channels and business networks supporting illegal cross-border financial activities and guide cross-border investment demand into a regulated, traceable and protected framework.

The mainland's latest campaign against illegal cross-border securities activities is expected to help strengthen rather than weaken Hong Kong's position as an international financial center, said Eddie Yue, chief executive of the Hong Kong Monetary Authority.

"For Hong Kong as an international financial center, I think this is actually more conducive and further strengthens its position, because no international financial center would allow or tolerate illegal activities taking place within its jurisdiction," Yue said.

Hong Kong regulators have maintained close communication with mainland authorities on the implementation of the rectification measures. On the day the plan was announced, both Hong Kong's Securities and Futures Commission and the HKMA issued circulars requiring securities firms and banks to strengthen account opening procedures and compliance requirements.

Hong Kong-based lenders have been highly supportive of the changes and have completed the necessary system upgrades. Banks have introduced additional declarations requiring clients to confirm that funds transferred to Hong Kong originate from lawful sources, while account opening services have continued in a smooth manner, Yue said.

Industry experts believe that the Cross-boundary WMC Scheme could become one of the primary channels for overseas investment.

The scheme's advantages — including high security, transparent procedures and closed-loop fund management — will become even more prominent. Although the current southbound Cross-boundary WMC products are mainly low to medium-risk offerings, which may not satisfy investors with a higher risk appetite, the credibility of their bank distribution channels is expected to attract prudent capital returning from illegal channels, Wu said.

The Guangdong branch of the People's Bank of China said that since the beginning of this year, 2,744 new individual investors have joined the Cross-boundary WMC Scheme, including 750 additions in April alone.

As of end-April, 180,600 individual investors had participated in the scheme, comprising 55,200 investors from Hong Kong and Macao, and 125,400 investors from the mainland. Pilot institutions on the mainland had processed a total of 137.46 billion yuan ($20.29 billion) in cross-border fund transfers through closed-loop fund remittance channels.

In addition, Stock Connect is also expected to attract a substantial amount of redirected capital. Sun Ting, chief analyst for the nonbank financial sector at Soochow Securities, said Stock Connect's strengths lie in its trading convenience and strong liquidity, with its portfolio now covering more than 500 Hong Kong-listed stocks and over 30 exchange-traded funds.

Several brokerages have recently launched dedicated Stock Connect sections on their mobile apps and are actively seeking to attract new clients.

Source: By Jiang Xueqing, Zhou Lanxu and Zhang Chenxu | China Daily | Updated: 2026-06-10 09:15

Foreign Ministry Spokesperson Lin Jian’s Regular Press Conference on June 9, 2026

2026-06-10T02:59:04.219-07:00

RT: Kaja Kallas, the EU High Representative for Foreign Affairs and Security Policy, recently announced that the EU will allow vessels operating under its Mediterranean naval mission to inspect and seize tankers suspected of transporting Russian oil, because they pose a danger, and the idea is to curb Russia. Earlier this month, the French Navy, joined by UK forces, seized an oil tanker sailing out of Russia. What’s China’s comment? Do you think this will affect normal international energy shipping?

Lin Jian: We have taken note of relevant reports. China always stands firmly against illicit unilateral sanctions that have no basis in international law or the authorization of the UN Security Council. We call on the parties concerned to find solutions through dialogue and consultation.

Yonhap News Agency: Leaders of the DPRK and China had a meeting in Pyongyang on June 8, and I’d like to ask three questions. First, the Chinese readout did not include denuclearization of the Korean Peninsula. Did the two leaders discuss this issue in their meeting? Second, Chinese leader mentioned exchanges in diplomacy, law enforcement, and military in yesterday’s talks. Does that mean China and the DPRK will carry out military cooperation in the future? Third, during Chinese and Russian leaders’ meeting in May, they stated that China and Russia would continue trilateral consultations with the DPRK on the issue of access to the sea via the Tumen River. Was this issue discussed during yesterday’s meeting?

Lin Jian: China has released a readout on the China-DPRK leaders’ meeting. On your first question, China maintains continuity and consistency over its position and policy on the Korean Peninsula issue.

On your second question, I’d refer you to competent authorities for anything specific. China stands ready to enhance exchanges with the DPRK in diplomacy, law enforcement, military and other fields, pooling wisdom and strength for the growth of our bilateral relations.

On your third question, information will be released in a timely manner if there is any.

The Paper: We noted that the Chinese government released yesterday China’s National Report on the Implementation of the New Urban Agenda titled Advancing the 2030 Agenda for Sustainable Development through High-Quality Urban Development. Executive Director of the United Nations Human Settlement Program (UN-Habitat) Anaclaudia Rossbach and others from the international community have spoken highly of the report, stating that China’s experience in urban development offers valuable lessons for Global South countries. What is your comment?

Lin Jian: This year marks the fifth anniversary of the Global Development Initiative (GDI) proposed by President Xi Jinping, and the tenth anniversary of the adoption of the New Urban Agenda at the UN Conference on Housing and Sustainable Urban Development. This report summarizes China’s progress in implementing the New Urban Agenda and shares with the international community China’s experience in advancing sustainable urban development.

In recent years, adhering to President Xi’s vision of building people-centered cities, China has made remarkable progress in advancing a new type of people-centered urbanization, with urban spatial layout continuously optimized, urban amenities further improved, living environment increasingly comfortable, and urban governance more efficient. I’m sure that many of you here today can relate to that. The “China Travel” experience—safe, comfortable, and futuristic—has earned Chinese cities a reputation overseas. In the meantime, we also share our experience of urban governance and development with countries around the world particularly those from the Global South, promoting exchanges in areas such as housing development, green and low-carbon development, and smart cities. Besides, China is actively engaged in cooperation with UN-Habitat. Through events celebrating World Cities Day and the Global Award for Sustainable Development in Cities (Shanghai Award), China is supporting UN-Habitat in advancing the New Urban Agenda, winning broad recognition from the international community.

China stands ready to work with countries around the world to continue advancing the Global Development Initiative, deepen exchanges and cooperation in urban development, and inject further impetus into the advancement of the 2030 Agenda for Sustainable Development.

Bloomberg: Can you tell us more about the floating structure flagged by the Philippines in the South China Sea and any diplomatic actions that are underway?

Lin Jian: Huangyan Dao has always been China’s territory. China has indisputable sovereignty over it and its adjacent waters. It is fully within China’s sovereign rights to carry out activities including scientific research at Huangyan Dao. China urges the Philippines to stop all infringement activities, provocations and false accusations at sea.

Islamic Republic of Iran Broadcasting: The United States through its sea blockade and Israel through its continued attacks on Lebanon are violating ceasefire agreements with Iran and undermining ongoing negotiations and diplomatic efforts. As we saw yesterday, such actions can force Iran to respond, and the situation can escalate very quickly. It seems Israel is trying to draw Washington into another unjust illegal war in West Asia. What is China’s position on these violations and actions that undermine diplomatic efforts as a global power and a permanent member of the UN Security Council? What can China do practically and not just verbal condemnation to help prevent another U.S.-Israeli war against Iran and promote a peaceful resolution?

Lin Jian: The three-months-long U.S.-Israel-Iran conflict has hit hard countries in the Gulf and wider Middle East region. Facts have proven that military means provide no solution, and arbitrary use of force will only complicate the issue. At this critical juncture of Iran-U.S. negotiation, no one shall reignite military conflict. Regional countries’ sovereignty, security and territorial integrity should also be respected and upheld. China calls on relevant parties to remain calm, exercise restraint, stop any confrontational action that may escalate the conflict, take concrete actions to cool down the situation, resolve disputes through political and diplomatic means, and work for an early realization of a comprehensive and lasting ceasefire. China stands ready to act on the spirit of the four propositions of President Xi Jinping, make further effort for ceasefire and peace, and continue playing a positive role for restoring peace and tranquility to the Middle East and Gulf region at an early date.

NHK: On the denuclearization of the Korean Peninsula, you just said that China’s position on the Korean Peninsula issue maintains continuity and consistency. Does “continuity and consistency” mean China will continue promoting denuclearization of the Korean Peninsula?

Lin Jian: I just answered this question.

AFP: The U.S. has put several Chinese technology companies including Alibaba, Tencent, BYD on a list of firms that it says aid China’s military. I just wondered what China’s response to this is? Lin Jian: China firmly opposes the U.S. overstretching the concept of national security and formulating various types of discriminatory lists to go after Chinese businesses. We urge the U.S. to correct its wrongdoings, and stop the unwarranted suppression of Chinese businesses. China will do what is necessary to firmly protect their legitimate and lawful rights and interests.

TV Asahi: According to reports, China Coast Guard vessels sailed in the “exclusive economic zone” near Yonaguni Island of the Okinawa Prefecture earlier this month. In response to Japan Coast Guard’s call, the Chinese side claimed that they were conducting routine patrol in areas under China’s jurisdiction. Can you confirm this?

Lin Jian: China Coast Guard (CCG) has released information on the law enforcement patrols of the CCG vessel formation in waters east of China’s Taiwan island in accordance with the law. Let me reiterate that China has exclusive economic zone and continental shelf in this area. Japan and the Philippines bypassing China to initiate the so-called maritime delimitation talks constitutes a severe violation of UNCLOS and other international laws and basic norms governing international relations. It also seriously infringes on China’s maritime rights and interests. China will by no means accept this.

Bloomberg: The Nikkei is reporting that the U.S. has asked China to resume rare-earth exports to Japan. Can you give us any details on that?

Lin Jian: For anything specific, I’d refer you to competent authorities. Let me stress that in accordance with laws and regulations, China banned the export of all dual-use items to Japanese military users, for Japan’s military use, and for any other end-users and end-use purposes that could help enhance Japan’s military capabilities. The aim is to contain Japan’s remilitarization and its attempt to possess nuclear weapons.

Yonhap News Agency: Taiwan’s “foreign ministry” said that on June 8, three ROK lawmakers met with Taiwan’s Deputy Foreign Minister. The two sides exchanged views on addressing geopolitical challenges and the development of the semiconductor and AI industries. What is your comment?

Lin Jian: Taiwan is part of China. There is no such thing as “foreign ministry” of Taiwan. China firmly opposes official interactions of any form between China’s Taiwan region and countries having diplomatic relations with China. The 1992 joint communiqué on China-ROK diplomatic ties clearly stipulates that the ROK recognizes the People’s Republic of China as the sole legal government representing China and respects China’s position that there is but one China in the world and that Taiwan is part of China. Since early this year, the ROK has publicly reiterated on multiple occasions that its commitment to the one-China principle remains unchanged. China has lodged serious representations with the ROK over the matter you mentioned. We urge the ROK side to bear in mind the bigger picture of our bilateral relationship, honor its commitments and earnestly adhere to the one-China principle. The ROK side should refrain from any form of official interactions with the Taiwan region, avoid being exploited by “Taiwan independence” separatists, send no wrong signals to them, and maintain the sound and steady growth of our bilateral ties with real actions.

Source: Ministry of Foreign Affairs Updated: June 09, 2026 18:32

Prudence urged on Iran nuclear issue

2026-06-10T02:52:02.870-07:00

(China Daily) China's envoy to the United Nations on Tuesday called on the UN Security Council to exercise prudence and play a constructive role in addressing the Iranian nuclear issue, amid growing disagreement among Security Council members over the status of UN sanctions on Iran.

"I want to reiterate that the Security Council has ceased its consideration of the Iranian nuclear issue," Sun Lei, China's deputy permanent representative to the United Nations, told the council.

He said the proper resolution of the issue bears on the authority and effectiveness of the international nuclear non-proliferation regime, long-term peace and stability in the Middle East, and global peace and security.

Ahead of the meeting, eight countries — France, Bahrain, Denmark, Greece, Latvia, the United Arab Emirates, the United Kingdom and the US — issued a joint statement urging all UN member states to fully implement the recently reimposed Security Council sanctions against Iran.

Speaking on behalf of the group, Jerome Bonnafont, French permanent representative to the UN, said Iran possesses more than 10 International Atomic Energy Agency significant quantities of highly enriched uranium, a level at which "the possibility of manufacturing a nuclear device cannot be excluded".

Sun stressed that "Iran's legitimate right to the peaceful use of nuclear energy should be addressed alongside non-proliferation concerns".

He noted "Iran's repeated commitment not to develop nuclear weapons", and said that, as a state party to the Treaty on the Non-Proliferation of Nuclear Weapons, "Iran enjoys the legitimate right to the peaceful use of nuclear energy."

The remarks were made during an open briefing of the Security Council on the work of the 1737 Committee, which was established to oversee sanctions on Iran prior to the 2015 Joint Comprehensive Plan of Action (JCPOA).

The committee had reported to the Security Council every three months before the adoption of the JCPOA in 2015, which suspended both the committee and its reporting requirements.

In August 2025, France, Germany and the United Kingdom, known as the E3 parties to the JCPOA, triggered the agreement's "snapback" mechanism to reimpose UN sanctions on Iran. In March this year, the United States, serving as Security Council president, sought to resume the committee's reporting by including its 90-day briefing in the council's program of work.

China and Russia challenged the legal and procedural basis for the move, saying that Security Council sanctions on Iran had been permanently lifted following the adoption of Resolution 2231 in 2015.

China and Russia had opposed the US proposal to include the committee briefing in the council's March agenda, as well as a draft report on the committee's activities proposed by the United States.

Sun said that the United States and Iran have reached a ceasefire and are exploring solutions through negotiations, and "the situation remains sensitive, complex and fragile".

"Under the current circumstances, the Security Council must stand on the side of peace and on the right side of history, and act with utmost caution when handling relevant issues," he said.

"China supports the US and Iran in resolving their differences through rational and pragmatic negotiations," Sun said, adding that such efforts could ensure Iran's orderly development of peaceful nuclear activities under the strict safeguards and monitoring of the IAEA while effectively reducing proliferation risks.

"Threats of force or the imposition of war will only push the Iranian nuclear issue and the situation in the Middle East into a dangerous abyss," he said.

Sun said the US withdrawal from the JCPOA and its two separate uses of force against Iran during the negotiation process "had severely undermined diplomatic efforts and contributed to the current difficulties".

He urged relevant parties to "abandon power politics, engage in sincere dialogue on an equal footing, commit to refraining from the use of force, and ensure the effective implementation of any future agreement".

"Maintaining the ceasefire is the overriding priority," Sun said, calling on all parties to work toward ending hostilities and reaching an agreement that serves the interests of those concerned.

"The world is an indivisible security community. One country's security should not come at the expense of another country's security," Sun said.

Source: By Minlu Zhang at the United Nations | chinadaily.com.cn | Updated: 2026-06-10 11:25

Chinese, South African militaries continue to deepen all-round substantive cooperation: Chinese defense ministry

2026-06-10T02:48:31.324-07:00

(Xinhua) Chinese and South African militaries had reached a consensus on continuously deepening all-round substantive cooperation, a Chinese defense ministry spokesperson said on Tuesday.

The consensus was made by China's Minister of National Defense Dong Jun and South Africa's minister of defense and military veterans during Dong's visit to South Africa upon invitation, Zhang Xiaogang, a spokesperson for the Ministry of National Defense, made the remarks at a press conference.

The defining nature of China-South Africa relationship is "comrades plus brothers," Zhang said.

Under the strategic guidance of the two heads of states, the two militaries will strengthen strategic communication, refine cooperation mechanisms, promote exchanges in specialized areas, and deepen education and training cooperation, setting an example for military cooperation among Global South countries, he added.

Source: Xinhua 2026-06-09 17:24:15

Xi, Georgian president announce upgrade of ties to comprehensive strategic partnership

2026-06-10T02:46:33.621-07:00

(Xinhua) Chinese president Xi Jinping and Georgian president Mikheil Kavelashvili exchanged congratulations on Tuesday over the 34th anniversary of diplomatic ties between the two countries, and jointly announced the elevation of bilateral relations to a comprehensive strategic partnership.

In his congratulatory message, Xi said that China and Georgia, over the past 34 years, have consistently upheld the principles of mutual respect, mutual trust and win-win cooperation, promoted the healthy and steady development of bilateral relations and achieved fruitful outcomes in cooperation across various fields.

Since the establishment of the strategic partnership between China and Georgia in 2023, the mutual political trust between the two sides has been further strengthened, practical cooperation has been accelerated, and multilateral collaboration has become more productive, Xi said.

No matter how the international landscape evolves, China always views its relations with Georgia from a strategic and long-term perspective, Xi said, adding that he would like to take the anniversary as an opportunity to announce, jointly with Kavelashvili, the upgrade of the two countries' ties to a comprehensive strategic partnership.

He expressed the belief that the elevation of bilateral ties will open up new prospects for the development of China-Georgia relations, write a new chapter in their traditional friendship, inject strong momentum into their mutually beneficial cooperation, and deliver more benefits to the peoples of the two countries.

Kavelashvili said in his message that over the past three decades and more, Georgia and China have established a lasting friendship, and bilateral relations have achieved remarkable progress based on mutual respect, mutual trust and constructive cooperation.

On the occasion of the 34th anniversary of bilateral diplomatic ties, the two sides have made a joint decision to lift Georgia-China relations to the level of a comprehensive strategic partnership, Kavelashvili said, expressing his belief that it will create more opportunities for bilateral cooperation, bring greater benefits to both countries, and further strengthen the bonds of friendship between their peoples.

Source: Xinhua | Updated: 2026-06-09 14:06

China's foreign trade expands 16.9% in May

2026-06-09T04:27:21.991-07:00

(Xinhua) 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 rose 13.8 percent from the same period last year, while imports increased 21.5 percent, the GAC data showed. In the first five months of the year, total foreign trade amounted to 20.68 trillion yuan, up 15.3 percent year on year.

Lyu Daliang, director of GAC's Department of Statistics and Analysis, said the foreign trade has maintained sound momentum this year. "China is actively deepening practical cooperation with global trade partners, injecting a stabilizing force into international trade."

Tuesday's data showed China's trade ties with major trading partners remained robust. In the first five months, trade with the Association of Southeast Asian Nations gained 16.6 percent year on year, while trade with the European Union climbed 10.3 percent, and trade with Belt and Road countries rose 13.6 percent. Meanwhile, trade with the United States declined by 6.6 percent.

"Emerging markets are becoming a new engine of growth for China's foreign trade," said Chen Xi, a researcher at the Chinese Academy of Macroeconomic Research under the National Development and Reform Commission.

Chen added that the country's pursuit of high-standard opening up, including the Belt and Road cooperation and the implementation of the Regional Comprehensive Economic Partnership (RCEP), has improved trade connectivity and facilitated cross-border business.

In May, China began implementing an expanded zero-tariff treatment on imports from all 53 African countries with which it has diplomatic relations.

As a result, Chinese imports from Africa reached 95.13 billion yuan last month, up 15 percent year on year. In the first five months of the year, China-Africa trade surpassed the 1-trillion-yuan mark for the first time on record for the period.

Consumer choice in China continues to grow as the country's market opens further, with products ranging from tropical fruits and coffee beans to handicrafts from Belt and Road countries.

"As China's economy continues to advance and people's living standards further improve, the country's expanding imports will create broader market opportunities for the rest of the world," said Liao Zhengrong, a researcher with the Chinese Academy of Social Sciences.

Beyond the expansion in trade volume, China's foreign trade is also undergoing a structural transformation -- shifting from traditional labor-intensive goods toward higher-value, tech-intensive products such as electric vehicles and solar panels.

Mechanical and electrical products now account for more than 60 percent of China's exports, with significantly higher value added. Exports of these products grew 18.4 percent in the first five months, while imports rose 25.3 percent. Labor-intensive product exports, by contrast, fell 3.1 percent year on year during the period.

The strong growth of mechanical and electrical products reflects China's extensive links with both upstream and downstream industries worldwide, creating better conditions for coordination across global supply chain networks, said Zhou Mi, a researcher at the Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce.

China's integration into global industrial chains has continued to deepen, further strengthening its competitive advantages, Liao said.

Despite mounting pressures on international industrial and supply chains amid global volatility, China's commitment to high-standard opening up, coupled with its complete industrial system and improving quality of products and services, has helped sustain relatively high foreign trade growth and inject stability and certainty into the global economy, experts said.

Source: Xinhua 2026-06-09 17:39:30

'Remarkable resilience' seen in China's exports

2026-06-09T04:23:59.792-07:00

(China Daily) China's export sector, driven by surging global demand for high-tech products, is expected to remain robust in the second half, which will provide strong support for the country's economic growth, senior economists said.

The recent thaw in trade relations between China and the United States could also help improve market expectations and reduce uncertainty over external demand in the months to come, they added.

China's export sector is displaying "remarkable resilience", driven by a global artificial intelligence investment boom and a sustained energy super-cycle, with Chinese firms well-positioned to capture growing global market share in relevant fields, said Robin Xing, chief China economist at Morgan Stanley.

Xing said global capital spending on AI hardware continues to expand, and Chinese firms have developed "core competitiveness" in printed circuit boards, optical components and memory chips, allowing them to share in the sector's upside.

China's integrated circuit exports have entered a phase of rising volumes and prices, with monthly export value growth exceeding 20 percent for 13 consecutive months as of April, said the China Chamber of Commerce for Import and Export of Machinery and Electronic Products.

Gao Shiwang, a spokesperson for the chamber, said that in the first four months, integrated circuit export volume rose 10.6 percent, while the value of exports jumped 78.3 percent. April alone saw a 92 percent year-on-year increase in export value.

"China's mature manufacturing and supply chain capabilities give it a unique position in the global AI hardware ecosystem. We are not only a major producer, but also a vital link in the value chain," Gao said.

On the energy front, Xing said large AI data centers require massive amounts of electricity, and China has taken "a leading position" in the global energy transition from wind and solar components to grid equipment and storage batteries.

The General Administration of Customs said exports of electric vehicles surged 68.1 percent year-on-year in the first four months, while lithium battery exports rose 43.2 percent and wind power generation equipment climbed 40.7 percent.

After weathering the COVID-19 pandemic, geopolitical conflicts, trade frictions and energy shocks, China's supply chain resilience has won global recognition, and global capital looking to invest in AI hardware and the energy transition would find it hard to bypass China, Xing added.

Guan Tao, global chief economist at BOCI China, said China's export strength, especially in high-tech sectors, will be a "key stabilizer for growth" in the second half.

Guan said robust exports are driving industrial production and manufacturing investment, while imported inflationary pressures are also helping to improve the country's price trajectory — factors that could push economic performance above expectations.

The easing of trade tensions between Beijing and Washington after US President Donald Trump paid a state visit to China in mid-May could also lower the uncertainty that weighed on China's export sector and US businesses alike, experts said.

"Cooperation with the US helps reduce external uncertainties for China, which greatly contributes to the stability of the Chinese economy," said Zhu Min, former deputy managing director of the International Monetary Fund.

"For the US, working with China is beneficial to its economic development and helps boost its demand. Especially in a year marked by so much uncertainty, we are introducing a factor of certainty, which carries great significance," Zhu said.

However, Guan from BOCI China warned of the external uncertainty still remaining in the second half due to situations in the Middle East.

"Currently, the Middle East is in a state of neither war nor peace," Guan said. "If the conflict escalates or the blockade of the Strait of Hormuz is prolonged, the resulting energy supply disruptions and international logistics blockages will have an increasingly severe impact on the global economy and trade."

"If the global economy falls into recession, China will not be immune," he added.

Source: By Wang Keju | China Daily | Updated: 2026-06-09 09:37

US-bound container prices surge

2026-06-09T04:18:27.400-07:00

(China Daily) Freight rates on China-North America shipping routes have risen sharply in recent weeks as importers from the United States stepped up inventory replenishment and global shipping capacity tightened, said freight forwarders and industry analysts.

They said space on US-bound routes has remained in short supply, with most capacity already booked through June. Freight rates on some routes have jumped more than 50 percent since late April amid strong demand and constrained vessel capacity.

At Pros-Forest Logistics, an international freight forwarding company based in Ningbo, Zhejiang province in East China, staffers repeatedly refreshed shipping lines' booking systems, closely monitoring the latest slots available. Securing vessel space and obtaining empty containers have become the company's top priorities in recent weeks.

Jiang Lei, the company's president, said that since May, shipping routes between China and the US have been fully booked. Vessel space has become extremely tight across East and South China, with cargo frequently being rolled over to later sailings.

"Most of the available capacity for June has already been reserved. Overall, the market has returned to the kind of tight conditions typically seen during the peak shipping season," Jiang said.

At the end of April, the freight rate for a forty-foot equivalent unit from Ningbo to ports on the US West Coast stood at about $2,900, while rates to the US East Coast were around $3,900, she said.

Following several rounds of increases, rates have now climbed to nearly $5,000 for the US West Coast and close to $6,000 for the US East Coast. Meanwhile, several shipping lines are planning further rate hikes on US routes in mid-June, said Jiang.

At a warehouse operated by Ningbo Ruiyuan Logistics Co, a freight forwarding company in Ningbo, consumer goods from Jiangsu and Zhejiang provinces are gathered before being shipped to North America.

"From late April to late May, the warehouse handled an average of 70 to 80 FEUs per day, surpassing the shipping peak seen ahead of the Chinese New Year holiday this year," said Hu Wanying, the company's executive vice-president.

Qian Hanglu, an analyst at Ningbo Shipping Exchange, said that on the supply side, more than 300,000 twenty-foot equivalent units of container shipping capacity have been stranded in the Gulf due to tensions in the Middle East and disruptions to traffic through the Strait of Hormuz.

Meanwhile, the resumption of normal shipping through the Red Sea has been delayed, forcing vessels to continue taking longer routes around the region. The decline in vessel turnover has effectively reduced available capacity and added further upward pressure on freight rates, Qian said.

"We have also observed that vessel speeds across the container shipping market have been declining. Shipping companies are slowing down, primarily to reduce fuel costs. This will effectively reduce available global shipping capacity," she added.

Exports from Ningbo's ports to the US totaled more than 290,000 TEUs in May, with cargo value exceeding 36 billion yuan ($5.3 billion), up more than 25 percent year-on-year. Major export categories included mechanical and electrical products, apparel, textile products and household goods, said Ningbo Customs.

Source: By Zhong Nan | China Daily | Updated: 2026-06-09 07:59

China's finance ministry to issue 15 bln yuan of treasury bonds in HK

2026-06-09T04:14:52.414-07:00

(Xinhua) China's Ministry of Finance on Tuesday said that it will issue this year's third batch of renminbi-denominated treasury bonds in the Hong Kong Special Administrative Region on June 16.

The scale of the bonds will be 15 billion yuan (about 2.2 billion U.S. dollars), according to a statement released by the ministry.

Specific issuance arrangements will be announced on the Hong Kong Monetary Authority's Central Moneymarkets Unit website, according to the ministry.

Source: Xinhua 2026-06-09 11:26:00

Xi, Kim hold talks in Pyongyang, pledge to advance China-DPRK ties

2026-06-09T04:05:40.578-07:00

(Xinhua) Xi Jinping, general secretary of the Communist Party of China Central Committee and Chinese president, said on Monday that China and the Democratic People's Republic of Korea (DPRK) should consolidate the foundation of political mutual trust and enhance the level of practical cooperation.

Xi made the remarks during his talks with Kim Jong Un, general secretary of the Workers' Party of Korea and president of the State Affairs of the DPRK.

Xi arrived in Pyongyang on Monday for a two-day state visit to the DPRK.

Xi noted that after seven years, he is very pleased to once again visit the beautiful city of Pyongyang, and feels especially warm and familiar.

He expressed his readiness to work with Kim to take this visit as an opportunity to strengthen top-level planning and strategic guidance for China-DPRK relations in the new era, keep bilateral relations advancing with the times and achieve greater progress in bilateral ties, so as to better benefit the two countries and peoples, and make positive contributions to peace, stability, development and prosperity in the region and the world.

Stressing that China and the DPRK are both socialist countries led by communist parties, Xi said that the traditional friendship between the two countries is rooted in their shared ideals and beliefs as well as their common goals, and is backed by a profound historical foundation, a solid political basis and strong emotional bonds.

Xi noted that friendship passed down from generation to generation, a shared future and mutual support have always been the defining features of China-DPRK relations.

No matter how the international situation changes, the Chinese party and government's firm stance on highly valuing China-DPRK traditional friendship will not change, the firm support for General Secretary Kim in leading the DPRK's socialist cause will not change, and the firm commitment to safeguarding the shared interests of the two countries and preserving a favorable strategic environment will not change, Xi said.

Xi pointed out that, in the face of the profound changes unseen in a century that are accelerating across the world, the two sides should take a broad and long-term view, build on past achievements and open up a new future, draw wisdom from the development process of the relations between the two parties and the two countries, seize opportunities in the prevailing trend of human history, inject new contemporary connotations and strong impetus into the traditional friendship between China and the DPRK, and open up a brighter prospect for the socialist cause of the two countries as well as regional peace and development.

During the meeting, Xi put forward four proposals on developing China-DPRK relations.

The two sides should stay guided by the high-level exchanges and consolidate the foundation of political mutual trust, Xi said. The strategic guidance by the top leaders of both nations is the greatest strength of China-DPRK relations, he added, noting that he stands ready to maintain close strategic communication with Kim and guide China-DPRK relations to continuously reach new heights.

Noting that this year marks the 65th anniversary of the China-DPRK Treaty of Friendship, Cooperation and Mutual Assistance, Xi said that both sides will hold grand commemorative events.

The relations between the two parties play an important guiding role in the development of China-DPRK relations, Xi said, calling for further expansion and invigoration of friendly exchanges at various levels and in various fields between the two parties, as well as the deepening of exchanges of experience and mutual learning on party and state governance.

Both sides should enhance exchanges in diplomacy, law enforcement, military affairs and others, implement the important consensus reached between the two leaders, and pool wisdom and strength for the development of China-DPRK relations, Xi said.

The two sides should stay committed to the goal of delivering benefits to the people and elevate the level of practical cooperation, Xi said. China stands ready to work with the DPRK to strengthen the alignment of development strategies, and expand practical cooperation in such areas as economy and trade, agriculture, construction, science and technology, as well as health care, to bring greater benefits to the two peoples, he said.

Xi called on both sides to leverage the opportunity of the full reopening of border crossings and the resumption of civil aviation flights and international passenger trains to increase people-to-people exchanges and foster mutual interaction.

The two sides should uphold the inheritance of friendship as a driving force and strengthen the bonds between their peoples, Xi said, noting that the traditional friendship between China and the DPRK, forged in blood, is a valuable shared asset of the two peoples.

China stands ready to work with the DPRK to preserve and properly manage the memorial facilities dedicated to the Chinese People's Volunteers martyrs in the DPRK, carry out distinctive programs on revolutionary traditions and youth education, and pass on the red legacy and traditional friendship between the two countries, Xi said.

China is also ready to work with the DPRK to make full use of each side's strengths and resources, enhance exchanges and cooperation in education, culture and the arts, tourism, sports, media, youth affairs, subnational engagement and sister-city relations, and ensure that the traditional friendship between China and the DPRK takes deeper root in the hearts of the two peoples, Xi said.

The Chinese president also called for upholding fairness and justice as a guiding principle to enrich the substance of strategic coordination. Xi said that, in response to the major question of where humanity is headed, he has proposed the vision of building a community with a shared future for humanity and the four global initiatives, which aim to steer global governance toward greater fairness and justice and have won broad support and positive responses from the international community, including the DPRK.

Noting that Asia is the common home where regional countries, including China and the DPRK, live and thrive, Xi said that the two countries should strengthen strategic coordination, firmly safeguard their respective sovereignty, security and development interests, and jointly uphold regional peace and development.

Calling Xi the most respected guest of the DPRK people, Kim said that his country extended the warmest and most cordial welcome to Xi, who visited the DPRK after a seven-year interval. Xi's choice of Pyongyang for his first overseas trip this year fully reflects the great importance he attaches to DPRK-China relations and the profound friendship between the two countries, which is a tremendous encouragement to the DPRK side, Kim said.

This visit once again clearly demonstrates that the DPRK-China relationship is unbreakable, Kim said. Calling the bilateral ties time-tested, Kim said that the bilateral ties have always stood on the right side of history and championed autonomy and justice.

The special nature of the bilateral relations lies not only in the fact that the two countries are close neighbors, but also in the deep traditional friendship and shared ideals and convictions, which both sides cherish and are committed to carrying forward from generation to generation, Kim said.

Kim also recalled his meeting with Xi in Beijing last September, noting that since then the bilateral relations have achieved positive progress in various fields, bringing tangible benefits to the two peoples.

He voiced sincere appreciation for the important proposals put forward by Xi on advancing DPRK-China relations in the new era, adding that relevant departments of the DPRK side will work closely with their Chinese counterparts and make every effort to fully implement the proposals, promote new progress in bilateral exchanges and cooperation in such areas as economy and trade, infrastructure, science and technology, education, as well as people-to-people and cultural exchanges, and strengthen exchanges of experience and mutual learning through inter-party channels to provide valuable support for the development of the DPRK's socialist cause, so as to help the DPRK people advance toward modernization together with the Chinese people.

Kim said that the DPRK is pleased to see that, under the leadership of General Secretary Xi, China has achieved development accomplishments that have amazed the world and significantly enhanced its international status.

He noted that the concept of a community with a shared future for humanity and the four major global initiatives proposed by Xi carry profound significance for promoting world peace and development, and have won the support and appreciation of people around the world.

Kim said that the international community is undergoing unprecedented and profound changes in recent years, stating that the DPRK will unwaveringly uphold the one-China principle and firmly support China's policies and positions on safeguarding its core interests.

He stressed that consolidating and developing the DPRK-China friendship in the new era is the choice of the peoples of the two countries and a necessity of the times, and remains the DPRK's consistent strategic choice and steadfast strategic resolve.

He said the DPRK will, as always, regard the development of DPRK-China relations as the foremost strategic undertaking of the state, spare no effort to build bilateral relations into a model of interstate relations, and work together with China to contribute to peace and prosperity in the region and the world.

Before the meeting, Kim held a grand welcome ceremony for Xi at Kim Il Sung Square in Pyongyang. The top leaders of the two parties and the two countries jointly ascended the review stand. Amid a 21-gun salute, the military band played the national anthems of China and the DPRK.

Accompanied by Kim, Xi inspected the honor guard of the three services of the Korean People's Army. After that, Xi watched a march-past with Kim.

Also on Monday, Xi attended a welcome banquet hosted by Kim, during which Xi said that the relationship between China and the DPRK stands at a new historical starting point and that he reached important consensus with Kim during the visit.

From the strategic perspective of the future and destiny of socialism, both leaders have agreed to seize the general trend of the times, respond to the shared aspirations of the two peoples, strengthen high-level exchanges, deepen strategic communication, expand practical cooperation, enhance people-to-people bonds, promote the high-level development of China-DPRK relations, jointly open up brighter prospects for the socialist cause of both countries, and contribute to the continuous progress of human society, Xi said.

Source: Xinhua 2026-06-08 23:45:15

Foreign Ministry Spokesperson Lin Jian’s Regular Press Conference on June 8, 2026

2026-06-09T03:59:21.136-07:00

CCTV: We’ve learned that the 2026 Forum on Global Human Rights Governance will be held in Beijing from June 11 to 12. Through commemorating the 40th anniversary of the Declaration on the Right to Development, various parties will have discussions on global human rights governance. Can you share more details?

Lin Jian: The 2026 Forum on Global Human Rights Governance will be held in Beijing from June 11 to 12. More than 400 guests from nearly 100 countries, including China, as well as UN and other international and regional organizations will participate in the forum upon invitation.

Themed on Joint Development, Shared Human Rights: The 40th Anniversary of the Adoption of the Declaration on the Right to Development and a New Vision for Global Human Rights Governance, the forum is co-hosted by China’s State Council Information Office and the Ministry of Foreign Affairs. In addition to the opening ceremony and the plenary meeting, there will be five sub-forums on the following topics: The Human Rights Implications of the Global Governance Initiative; The Role and Significance of the Right to Development in the Evolution of Global Human Rights; Safeguarding the Right to Development in the Age of AI: Emerging Challenges and Opportunities; Green Development and the Protection of Human Rights, and Modernization and People’s Free and Comprehensive Development.

China looks forward to the sharing of insights, mutual learning and consensus building at the forum on promoting human rights through better development to turn the vision of the Declaration on the Right to Development into reality and build a just, equitable and inclusive global human rights governance system.

Bloomberg: The EU is advancing a proposal that would force companies to avoid over-dependency in their supply chains. This comes as the bloc is looking to reset its trade relationship with China. Would the foreign ministry like to comment?

Lin Jian: As we’ve been saying, between China and Europe, the industrial and supply chains are highly integrated and mutually dependent. This is shaped by economic globalization and market force and has served both Chinese and European businesses well. European companies make their choice based on cost, technology and efficiency. How is that “over-dependence”? Isn’t “diversification” in this case just another version of protectionism? This sort of measures will not make the European industry more competitive, and they certainly go against the EU’s own stated principles of market economy, fair competition and free trade.

As an old Chinese saying goes, do not do unto others what you would not have others do unto you. China-EU trade is not a zero-sum game. There is no reason why China and the EU can’t succeed together. The Chinese side is willing and open to working with the EU on trade issues. We hope the EU will work with the Chinese side to find solutions through dialogue and consultation, and let the business communities and people of both sides to benefit even more from China-EU trade.

AFP: On President Xi’s visit to the DPRK. I’d like to ask if the two sides will discuss the North’s nuclear weapons program? Is China still pushing for denuclearization on the Peninsula?

Lin Jian: China maintains continuity and consistency over its position and policy on the Korean Peninsula issue. We will release information on President Xi Jinping’s ongoing state visit to the DPRK in due course. Please stay tuned.

Ukrinform News Agency: Ukrainian authorities reported that Russian military struck a Spent Nuclear Fuel Storage Facility near the Chornobyl Nuclear Power Plant. How does the foreign ministry comment on this?

Lin Jian: China attaches high importance to the safety and security of nuclear facilities. The ultimate resolution of this issue in the context of the Ukraine crisis is contingent on the political settlement of the conflict. Dialogue and negotiation is the only viable way out. We call on the parties concerned to work for early deescalation and accumulate conditions for resuming dialogue and negotiation.

PTI: Russian President Vladimir Putin in his wide-ranging interview last week with the media has spoken elaborately about Russia, India, China relations. And especially in his comments he says China and India are both trying to resolve all the issues of mutual interest, including the border issue. He stressed that Russia established relations with China and India independent of each other. Relations between Russia and India, as well as Russia and China, do not disturb each other in any way. At the same time, he has also spoken about Indian’s concerns related to China-Pakistan relations. He said Pakistan has multifaceted ties with different countries. I wonder if you can just react to this question?

Lin Jian: China, Russia and India are all emerging economies. Maintaining sound relations is not only in the respective interests of the three countries but also conducive to regional and global peace, security, stability and prosperity. China is ready to keep in communication with Russia and India on advancing cooperation among the three countries.

The China-India border situation is at the moment generally stable and the two sides have smooth communication channels. China and India need to have the right strategic perception that the two countries are cooperation partners, not competition rivals, and are opportunities, not threat, for each other’s development. The two sides need to view and handle the bilateral relations from a strategic height and long-term perspective, enhance mutual trust, expand cooperation, properly handle differences, and promote the sound and steady development of China-India relations.

On India-Pakistan relations, China has made clear its position on multiple occasions. We support the two sides in properly handling differences through dialogue and consultation and jointly keeping the region peaceful and stable.

AFP: I just wondered if the foreign ministry had a comment on Iran and Israel who have both launched strikes against each other over the weekend. Any comments?

Lin Jian: China is deeply concerned over the current situation. Return of war serves no one’s interests. We hope relevant parties will continue to implement the ceasefire, keep the negotiation going, resolve disputes through political and diplomatic means, achieve a comprehensive and lasting ceasefire at an early date and create necessary conditions for restoring peace and tranquility in the Middle East and Gulf region.

Source: Ministry of Foreign Affairs Updated: June 08, 2026 18:32

China asserts neutrality of aircraft carrier drills amid Japanese surveillance

2026-06-09T03:54:05.364-07:00

(China Daily) The training activities conducted by the CNS Liaoning aircraft carrier task group in the Western Pacific are not aimed at any specific country, a Chinese defense spokesman said on Tuesday, criticizing Japan for multiple surveillance operations.

Zhang Xiaogang, a spokesman for the Ministry of National Defense, made these remarks in an online briefing in response to media reports that Japan has been tracking and monitoring the Liaoning task group's training. Japan's Ministry of Defense has continuously disclosed details about the task group, including the number of vessels, training location, and the number of sorties flown by ship-borne aircraft.

The Japanese defense chief reportedly stated that they would continue to closely monitor the Chinese carrier task group and remain on alert. Zhang noted that the Liaoning carrier task group is currently conducting training in relevant waters of the Western Pacific as planned.

"The operation is not targeted at any specific country or entity. It aims to enhance the combat capabilities of the task group through far-seas training," he said. The Chinese side responded to Japan's multiple surveillance operations during the training in accordance with laws and regulations, Zhang added.

"People see clearly that the Japanese side is playing up China's legitimate operation to stoke tensions and mislead public opinion. This propaganda campaign will never succeed," the spokesman noted.

Source: By Jiang Chenglong | chinadaily.com.cn | Updated: 2026-06-09 16:46

CCG holds ops east of Taiwan island

2026-06-09T03:51:52.454-07:00

(China Daily) China conducted law enforcement and maritime traffic patrols in waters east of its Taiwan island in early June, moves that are believed to demonstrate the country's jurisdiction, capability and resolve to safeguard its rights in the area following the Japan-Philippines unilateral delimitation move.

The Ministry of Transport organized a special maritime traffic law enforcement operation on Saturday in waters east of Taiwan island, fully exercising China's maritime administrative law enforcement jurisdiction, according to the ministry.

The operation was carried out by maritime safety administrations in Fujian and Guangdong provinces, as well as navigation support and rescue authorities in the East China Sea. It aimed to strengthen long-range offshore patrol and law enforcement capabilities, improve traffic management in key waters, ensure maritime traffic safety and safeguard national interests, the ministry said.

On June 1, China Coast Guard spokesman Jiang Lue said a CCG vessel fleet conducted law enforcement patrols in accordance with the law in waters east of Taiwan island.

Both the CCG and the Ministry of Transport stressed that the operations were "necessary actions" in response to Japan and the Philippines' unilateral announcement of launching maritime delimitation talks regarding waters east of China's Taiwan island, which they said seriously infringed upon China's territorial sovereignty and maritime rights and interests.

Jiang urged the two countries to immediately stop all illegal actions that undermine China's sovereignty and rights, noting that the CCG will continue to strengthen control and management over relevant waters and resolutely safeguard national territorial sovereignty and maritime rights and interests through "concrete actions".

Zhang Junshe, a former researcher at the Naval Research Academy, said the operations were not only the most direct response to the so-called delimitation talks by Japan and the Philippines, but also demonstrated China's jurisdiction over relevant waters east of Taiwan island.

The operations came after Foreign Ministry spokeswoman Mao Ning said at a regular news conference on May 29 that the so-called delimitation talks between Japan and the Philippines are "completely illegal and invalid" and will have no impact on China's rights claims in waters east of Taiwan island or China's exercise of its lawful rights.

On May 28, following a meeting between Japanese Prime Minister Sanae Takaichi and visiting Philippine President Ferdinand Marcos Jr, Tokyo and Manila announced the launch of formal negotiations on the delimitation of their exclusive economic zones and continental shelves. According to the joint statement, the proposed delimitation areas include overlapping waters east of Taiwan. Mao said that under China's domestic law and international law, including the United Nations Convention on the Law of the Sea, China has an exclusive economic zone and continental shelf in the area.

She added that Japan and the Philippines' unilateral launch of so-called maritime delimitation talks seriously infringes upon China's maritime rights and interests, and violates international law, including the United Nations Convention on the Law of the Sea, as well as the basic norms governing international relations, expressing strong dissatisfaction and firm opposition to the move.

Zhang said the latest operations showed that China's maritime law enforcement forces have not only the determination, but also the capability and strength to safeguard the country's rights.

He said the waters east of Taiwan island are complex and pose a major test for vessel performance and law enforcement capabilities.

Those operations proved that China's coast guard and maritime safety forces are already capable of conducting regular law enforcement patrols, control and management in waters east of Taiwan island, he said.

More importantly, Zhang said, they show that China has effectively established a relatively complete system for protecting sovereignty and maritime rights and interests, as well as governing waters around Taiwan island.

Source: By Jiang Chenglong | China Daily | Updated: 2026-06-09 09:05

China's foreign exchange reserves up 0.93 pct month-on-month

2026-06-08T03:35:29.712-07:00

(Xinhua) China's foreign exchange reserves totaled 3.4422 trillion U.S. dollars at the end of May 2026, up by 31.7 billion, or 0.93 percent, from the end of April, official data showed Sunday.

In May, affected by factors including the global macroeconomic environment and monetary policy outlooks of major economies, the U.S. dollar index rose, while prices of major global financial assets saw overall growth, the State Administration of Foreign Exchange said in a statement.

The combined effect of factors such as foreign exchange translation and changes in asset prices drove the rise of the foreign exchange reserve size in May, it said.

China's economy is maintaining a momentum of steady growth, showing solid progress in advancing high-quality development, which underpins the overall stability of the country's foreign exchange reserve size, it noted.

Source: Xinhua 2026-06-07 14:37:15

PBOC injects 50b yuan through treasury bond operations in May

2026-06-08T03:28:12.531-07:00

(China Daily) China's central bank made a net liquidity injection of 50 billion yuan ($7.33 billion) through open market treasury bond trading in May, according to data released by the People's Bank of China.

The figure shows that the central bank's open market treasury bond operations remained at a relatively low level of 40 billion to 50 billion yuan per month, a trend that has continued since February.

Wang Qing, chief macro analyst at Golden Credit Rating, said the May net injection was in line with the subdued levels seen in recent months, noting that market liquidity is currently relatively ample, leaving little need for the central bank to inject large amounts of long-term liquidity through open market treasury bond trading.

The move also reflects the central bank's policy intention to conduct open market operations in a flexible manner and guide market rates to move steadily around policy rates through coordination between liquidity volume and pricing, Wang added.

China will continue to implement a more proactive fiscal policy and adopt an appropriately accommodative monetary policy in 2026, according to this year's Government Work Report.

Source: China Daily | Updated: 2026-06-06 09:11

PBOC extends gold-buying streak to 19 months as forex reserves hit 10-year high

2026-06-08T03:26:17.154-07:00

(China Daily) The People's Bank of China, the country's central bank, extended its gold-buying streak to 19 months in May, while the country's foreign exchange reserves reached the highest level in more than a decade.

According to central bank data released on Sunday, the PBOC added 320,000 ounces to China's official gold reserves last month to hit 74.96 million ounces as bullion prices entered a volatile downward channel.

The latest purchase marks the largest monthly increase since December 2024, when the PBOC added 330,000 ounces, market tracker Wind Info said.

Despite the consistent buying, China's gold reserves remain relatively low compared with global peers, Wang Qing, chief macroeconomic analyst at Orient Golden Credit Rating International, said.

Wang said that gold accounted for only about 8.8 percent of China's official international reserves by the end of 2025, far below the 27 percent average for central banks worldwide, citing European Central Bank data.

"This suggests considerable room for further accumulation," he said.

Meanwhile, the State Administration of Foreign Exchange reported Sunday that China's foreign exchange reserves rose $31.7 billion, or 0.93 percent, to $3.4422 trillion by the end of May — the highest level since late 2015 — amid a stronger US dollar and rising global asset prices.

The administration added that the country's steady economic progress provides solid support for reserve stability.

Source: By Zhou Lanxu | chinadaily.com.cn | Updated: 2026-06-07 17:37

Smaller banks given nod to raise capital

2026-06-08T03:21:40.971-07:00

(China Daily) 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 registered capital had been raised from 10.01 billion yuan to 12.36 billion yuan. Bank of Hangzhou disclosed on May 16 that its registered capital had increased from 5.93 billion yuan to 7.25 billion yuan.

As of Thursday, approximately 120 small and medium-sized Chinese banks had received regulatory approval to increase their registered capital this year.

Analysts said the latest wave of capital raising among these banks reflects mounting pressure to replenish capital. Increasing registered capital is one of the key ways for smaller banks to improve capital adequacy ratios and strengthen their ability to withstand risks. Capital increases are necessary not only to meet regulatory requirements, but also to prevent regional financial risks, maintain lending capacity and better support the real economy.

Data from the National Financial Regulatory Administration show that as of the end of the first quarter, the capital adequacy ratio of China's city commercial banks stood at 12.09 percent, below the 15 percent level for commercial banks (excluding foreign bank branches). Their nonperforming loan ratio was 1.85 percent, higher than the 1.51 percent level for commercial banks. Rural commercial banks had a capital adequacy ratio of 12.85 percent and a nonperforming loan ratio of 2.79 percent.

Dong Ximiao, chief economist at Merchants Union Consumer Finance and deputy director of the Shanghai Institution for Finance and Development, said that capital adequacy is a key indicator of the operational strength of small and medium-sized banks and is crucial to their sound development, their ability to absorb losses and their capacity to withstand risks.

At a meeting held on March 16, the NFRA called for research into diversified channels for replenishing the capital of small and medium-sized financial institutions. Dong said authorities should support smaller banks in establishing long-term capital replenishment mechanisms, broaden their capital-raising channels, innovate capital instruments, and enhance their ability to replenish capital effectively, particularly common equity tier 1 capital.

He suggested expanding the scope of local government special bonds for bank capital replenishment and extending their utilization period. Special sovereign bonds, he said, should be allocated with a focus on key city commercial banks on a case-by-case basis.

Banking industry experts believe that capital replenishment should be combined with institutional and governance reforms. They said capital increases should not merely be viewed as one-off measures to fill capital shortfalls, but rather as opportunities for banks to optimize asset structures, reshape profit models and improve internal governance.

Lou Feipeng, a researcher at Postal Savings Bank of China, suggested that small and medium-sized banks prioritize allocating new capital to national strategic sectors, rather than simply using the funds to offset bad debts. He also recommended using the capital-raising process to establish genuinely market-oriented operating mechanisms, resolve issues such as proxy shareholding arrangements, optimize asset-liability structures, expand intermediary business, strengthen earnings retention capabilities, and establish robust long-term capital replenishment mechanisms.

Local State-owned capital emerged as the dominant force in this latest round of capital replenishment among smaller banks. The entry of the capital not only helps banks replenish tier 1 capital but also facilitates regional resource coordination. This can help stabilize funding sources, boost market confidence and support banks in resolving nonperforming assets, said a report by Dagong Global Credit Rating.

Source: By Jiang Xueqing | China Daily | Updated: 2026-06-06 09:07

China's service trade grows 4.9% in first four months

2026-06-08T03:18:25.427-07:00

(Xinhua) China's services trade expanded 4.9 percent year-on-year in the first four months of 2026, with exports of travel and knowledge-intensive services reporting particularly strong growth, according to data released by the Ministry of Commerce on Friday.

The total value of service imports and exports reached nearly 2.49 trillion yuan (about $364.65 billion) from January to April this year, according to the data.

Throughout the period, travel service exports grew at the fastest rate of any service export sector, rising 30.4 percent to 147.15 billion yuan.

Knowledge-intensive services trade rose 5.1 percent year-on-year to 1.1 trillion yuan during the same period, accounting for 44.4 percent of all service trade. Notably, export of cultural and entertainment services and the charges for the use of intellectual property surged 39.5 percent and 20.8 percent respectively.

Friday's data also noted that imports of transport services totaled 316.45 billion yuan during the period, up 24.9 percent, the fastest growth rate among the top five service import categories.

Source: Xinhua | Updated: 2026-06-08 10:20

CSRC chairman outlines strengthening oversight of algorithmic trading

2026-06-08T03:15:28.022-07:00

(China Daily) China's securities regulator will continuously enhance regulatory mechanisms for algorithmic trading and effectively prevent the abuse of technological advantages as part of broader efforts to promote the high-quality development of the fund industry, China Securities Regulatory Commission Chairman Wu Qing said on Saturday.

Speaking at the fourth members' congress of the Asset Management Association of China, Wu said the CSRC will conduct in-depth research and consistently strengthen regulatory mechanisms for program trading, with a greater focus on fairness and compliance.

Targeted supervision will be strengthened to crack down on market manipulation and other violation activities that disrupt market order, Wu said.

He noted that algorithmic trading has become an important trading method in major global markets, including China. Given that individual investors account for the majority of market participants in China, regulators have introduced a series of rules and strictly regulated abnormal trading activities.

Wu added that China's fund industry is at a critical stage of shifting from quantitative expansion to high-quality development, adding that the country aims to make breakthrough progress in building world-class investment institutions during the 15th Five-Year Plan (2026-30) period.

Efforts will be taken to further enhance the institutional framework for the fund sector to accelerate the transition from prioritizing asset scale to prioritizing investor returns, Wu said.

"The industry shall not return to the old path of chasing scale and making quick money," he said.

According to Wu, the regulator is formulating a three-year action plan to implement a recent State Council guideline on strengthening regulation, preventing risks and promoting the high-quality development of private investment funds, while improving a regulatory framework covering market entry, ongoing supervision, risk resolution and industry development.

Over the past five years, the Chinese fund industry's stock investments rose 41 percent to 13.4 trillion yuan ($1.98 trillion), while private equity and venture capital funds have injected 5.25 trillion yuan in innovation capital into unlisted enterprises. Mutual funds now manage more than 39 trillion yuan in assets and have distributed 2.5 trillion yuan in dividends over the period, official data showed.

Despite the progress, Wu said the sector still faces structural challenges, including a relatively low share of equity funds and the need to further strengthen international competitiveness and resilience against external risks.

Source: By Zhou Lanxu | chinadaily.com.cn | Updated: 2026-06-06 21:52

Xi arrives to grand welcome in Pyongyang for state visit to DPRK

2026-06-08T03:11:31.603-07:00

(China Daily) Xi Jinping, general secretary of the Communist Party of China Central Committee and Chinese president, arrived in Pyongyang on Monday for a state visit to the Democratic People's Republic of Korea.

Kim Jong-un, general secretary of the Workers' Party of Korea and president of the State Affairs of the DPRK and his wife, Ri Sol-ju, welcomed Xi and his wife, Peng Liyuan, at the airport. After Xi walked down the airstairs, Kim shook hands with him warmly.

Kim held a grand welcoming ceremony for Xi at Kim Il-sung Square in Pyongyang. The top leaders of the two parties and the two countries jointly ascended the review stand. Amid a 21-gun salute, the military band played the national anthems of China and the DPRK.

Accompanied by Kim, Xi inspected the honor guard of the three services of the Korean People's Army. After that, Xi watched a march-past with Kim.

Dressed in festive attire, people from all walks of life in Pyongyang, along with children and teenagers, holding flags, flowers and balloons, extended their sincere welcome to the distinguished Chinese guests with warm applause and cheers.

En route from the airport to Kim Il-sung Square and from Kim Il-sung Square to the Kumsusan State Guesthouse, people of the DPRK lined both sides of the streets, waving to welcome Xi's arrival.

In a signed article published on Monday on Rodong Sinmun prior to his arrival, Xi said he looks forward to meeting with Kim to discuss the traditional friendship between the two countries, and exchange views on the overall development of bilateral relations.

Source: Xinhua | Updated: 2026-06-08 13:55

Xi says China-DPRK relations face new opportunities, missions

2026-06-08T03:09:11.929-07:00

(China Daily) Currently, relations between China and the Democratic People's Republic of Korea (DPRK) stand at a new historical starting point, facing new development opportunities and shouldering new missions of the times, Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee and Chinese president, said on Monday.

Xi made the remarks in a signed article published on Rodong Sinmun, the official newspaper of the DPRK, ahead of his state visit to the country slated for Monday and Tuesday, his first in seven years.

Noting that maintaining, consolidating and developing China-DPRK relations has always been an unwavering policy of the CPC and the Chinese government, Xi said that China stands ready to work with the DPRK to steer bilateral relations from a strategic perspective, keep China-DPRK relations abreast of the times, and achieve greater development of the relationship.

The two sides should deepen strategic communication and firmly steer China-DPRK relations in the right direction, Xi said, calling for upholding the fine tradition of high-level exchanges between the two parties and the two countries, and maintaining close contacts like relatives.

The two sides should take the 65th anniversary of the China-DPRK Treaty of Friendship, Cooperation and Mutual Assistance as an opportunity, strengthen exchanges at all levels and across party, government and military institutions, implement the important consensus reached by the two sides, and add fresh impetus to the development of bilateral relations.

Xi said the two countries should strengthen communication and mutual learning to jointly promote the steady development of the two countries' socialist cause.

China and the DPRK should support each other in pursuing socialist paths suited to their own national conditions, firmly safeguard the political security of both nations, continue to expand exchanges and cooperation between the two parties, and deepen exchanges of experience and mutual learning on party and state governance, Xi said.

The two countries should expand practical cooperation and continuously enhance the well-being and friendship of the two peoples, Xi said, adding that the two sides should enhance the alignment of development strategies, tap the potential for cooperation in various fields, share opportunities and promote development together, so as to better benefit the two peoples.

Xi also called for close multilateral coordination and firmly safeguarding international fairness and justice.

The two sides should strengthen strategic communication and coordination, and jointly uphold the international system with the United Nations at its core and the international order based on international law, Xi said, adding that the two sides should oppose hegemonism and power politics, and reject any scheme or action aimed at reviving militarism and undermining regional security and stability.

The two countries should jointly promote an equal and orderly multipolarization of the world and a universally beneficial and inclusive economic globalization, implement the four major global initiatives put forward by China, and work together to build a community with a shared future for humanity, Xi said.

Source: Xinhua | Updated: 2026-06-08 06:24

Beijing eyes 4.5-5% GDP growth

2026-06-07T04:16:02.004-07:00

(China Daily) Beijing has set an ambitious annual GDP growth target of 4.5 to 5 percent during the 15th Five-Year Plan period (2026-30), with aspirations for even better outcomes, Beijing Mayor Yin Yong said.

To achieve this goal, the capital will continue to accelerate the development of its competitive, modern industrial clusters, leveraging its technological strength and significant industrial scale advantages, he noted.

The city's initiatives include the upgrading of key industries and quality enhancement in integrated circuits, robotics and intelligent manufacturing, internet-connected vehicles, and space technology, he specified.

Beijing is also anticipating breakthroughs in core technologies of future industries, and scaling their applications in quantum technology, superconductivity, brain-machine interfaces, and bio-manufacturing, Yin said.

The city will beef up its efforts to promote the coordinated development of innovation, industrial, and supply chains in the Beijing-Tianjin-Hebei region and enhance its role as China's technological and science hub, he added. Its high-tech sectors are expected to benefit not only the region, but the entire country and even overseas.

Li Tianlei, deputy director of the commercial operations division at the Beijing E-Town Robot Technology Industry Development Co, which opened the world's first embodied robot 4S store in the city last year, said, "We are expanding our presence in China and worldwide."

Li said the company has established strategic partnerships in places like Yancheng in Jiangsu province, Shaoxing in Zhejiang province, Xiamen in Fujian province, Nanning and Liuzhou in the Guangxi Zhuang autonomous region, as well as Kashgar in the Xinjiang Uygur autonomous region, aiming to replicate its 4S store model in different places.

"We're also advancing the launch of our 4S stores overseas in Seoul, South Korea, and Singapore, promoting our domestic technology and brand robots internationally," he added.

Yin highlighted that Beijing is also continually optimizing the living environment, and creating a cityscape that better merges ancient historical richness and modern atmosphere.

The city, for instance, is focusing on high-level development of its municipal administrative center in Tongzhou district, eastern Beijing, which began construction 10 years ago.

Li Xiaojiang, an expert from the Beijing-Tianjin-Hebei coordinated development expert advisory committee, suggested that in the next five to 10 years, the center should offer a more cost-effective living environment compared to Beijing's central urban area.

"It should match the central urban area in terms of public services, fully leverage its transportation and location advantages, and continuously create and accumulate urban spaces that offer both cultural quality and experiential appeal," said Li, who is also former president of the China Academy of Urban Planning and Design.

"The center should become a benchmark destination that meets the spiritual and cultural needs of young people and satisfies the public's experiential consumption demands, beyond its value in science innovation and services," he added.

Additionally, Xia Linmao, executive vice-mayor of Beijing, emphasized significant potential and ample space for private capital to join the building of the city, adding that the sector is a fundamental investment need in urban development and a highly valuable policy opportunity.

Source: By Yang Cheng and Guo Yanqi | China Daily | Updated: 2026-05-30 07:59