China’s childcare subsidy, set at a standard 3,600 yuan ($501) per year for each child under the age of three, is expected to provide financial relief for families, potentially boosting household consumption, analysts said. This people-centric approach to policymaking is likely to foreshadow further increases in public spending on areas that directly benefit households, such…
A container ship leaves Qingdao Port, Shandong province. [YU FANGPING/FOR CHINA DAILY] BEIJING — Buoyed by stronger-than-expected economic performance and steered by policy continuity and certainty, China is accelerating through the home stretch of the 14th Five-Year Plan (2021-2025) to lay a solid foundation for future high-quality development. The first half of 2025 highlighted China’s…
BEIJING — As innovation and design emerge as new engines of growth, China’s manufacturing sector is undergoing a shift from scale-driven expansion to value-oriented transformation. In the first half of 2025, robust output in high-tech sectors, ranging from 3D printing and smart home appliances to personalized electric vehicles, highlighted the rise of smart manufacturing, where…
A taxation bureau official (left) answers a taxpayer’s queries in Fuzhou, capital of Fujian province. [Photo/Xinhua] China is stepping up the enforcement of a long-standing policy requiring residents to pay personal income tax on gains accruing from overseas investments, which industry experts said reflects improved access to cross-border financial data and a broader effort to…
BEIJING — China’s service trade maintained steady growth in the first half of this year, with total imports and exports reaching 3.89 trillion yuan ($544.9 billion), up 8 percent year-on-year, the Ministry of Commerce said on Monday. Specifically, service exports rose 15 percent to 1.69 trillion yuan, while imports increased 3.2 percent to 2.2 trillion…
BEIJING — China’s service trade maintained steady growth in the first half of this year, with total imports and exports reaching 3.89 trillion yuan ($544.9 billion), up 8 percent year-on-year, the Ministry of Commerce said on Monday. Specifically, service exports rose 15 percent to 1.69 trillion yuan, while imports increased 3.2 percent to 2.2 trillion…
BEIJING — China’s State Taxation Administration on Monday released value-added tax (VAT) invoice data for the first half of 2025, revealing steady growth in sales revenues among businesses nationwide. Specifically, the data shows that manufacturing sales revenues grew 1.5 percentage points faster than the country’s overall sales revenue growth during the January-June period, reinforcing the…
[Photo/VCG] To shift the banking sector from scale-driven expansion to value creation and reduce long-term risk, experts have called on banks to strengthen self-discipline and abandon their obsession with size and speed, warning against destructive “involution-style” competition. In recent years, under mounting pressure, China’s banking sector has increasingly engaged in such competition — marked by…
Despite a complex and volatile international landscape and disruptions to the global economic and trade order this year, China’s economy has maintained steady momentum thanks to proactive forecasts and contingency plans to counter a new wave of external pressure. In the first half, the country’s GDP grew 5.3 percent year-on-year, up 0.3 percentage point from…
Customers visit a shopping mall in Liangjiang New Area, Southwest China’s Chongqing municipality, June 7, 2025. [Photo/Xinhua] China has unveiled interest subsidy policies on certain loans to ease the financial burdens of both individuals and businesses, as part of the country’s broader push to boost consumption, analysts said. The interest subsidies, earmarked from fiscal funds,…