China will reduce the interest rates of various structural monetary instruments by 0.25 percentage points in order to boost lending, with the one-year interest rate on various central bank lending facilities to be lowered from the current 1.5 percent to 1.25 percent, Zou Lan, vice-governor of the People’s Bank of China, said. The minimum down…
CAI MENG/CHINA DAILY Building more homes that are safe, comfortable, eco-friendly and smart during the 15th Five-Year Plan (2026-30) period is an important measure to practice a people-centric philosophy of development and fulfill people’s aspirations for better lives. It is also a key pathway to promoting high-quality development of the construction sector and fostering new…
The Asia-Pacific region is playing an increasingly important role in the global economy and is expected to contribute around 60 percent of global growth in both 2025 and 2026, said the International Monetary Fund. Asian economies such as China, Japan and India now account for three of the top five countries in the World Bank’s…
An aerial view of Canton Tower in Guangzhou, capital of Guangdong province. YANG HE/FOR CHINA DAILY The gross domestic product of Guangzhou, the capital of Guangdong province, is forecast to grow by about 5 percent in 2026, based on the expansion of emerging industries, according to Sun Zhiyang, the city’s mayor, during the annual session…
With new quality productive forces being nurtured at a faster pace and major breakthroughs in frontier technologies anticipated in the coming years, Shanghai’s GDP per capita in 2035 should double 2020’s figure, according to the municipal government. The goals are part of the city’s 15th Five-Year Plan (2026-30), released by the Shanghai municipal government on…
Shoppers look at water heaters with trade-in subsidies at a market in Jiaxing, Zhejiang province. JIN PENG/FOR CHINA DAILY The consumer goods trade-in policy for this year has already increased retail activity significantly, benefiting both retailers as well as consumers, said retailers and industry experts. Designed to promote green, smart, and energy-efficient products, the renewed…
A worker bundles copper rods in preparation for shipment at a factory in Hongze district, Huai’an, Jiangsu province, on Jan19. [Photo/Xinhua] China’s economy delivered “hard-won” results in 2025, featuring breakthroughs in technological advances and emerging consumption phenomena, setting the stage for a possible GDP growth target of between 4.5 percent and 5 percent this year,…
A person walks past a sign for the World Economic Forum in Davos, Switzerland, on Jan 19. [Photo/Xinhua] As geopolitical tensions rise alongside economic fragmentation and rapid technological change, global leaders are gathering in Davos, Switzerland, through Friday for the World Economic Forum’s 56th Annual Meeting, with dialogue and coordination taking center stage amid growing…
Shoppers crowd at Sanya International Duty Free Shopping Complex in Sanya, Hainan province, on Jan 10. [Photo/Xinhua] Just 20 days into 2026, China has rolled out an intensive array of consumption-boosting policies. Ranging from State subsidies and tax exemptions to trade-in programs and interest rate cuts, these measures are unleashing comprehensive dividends, invigorating the consumer…
China’s tax authorities have stepped up efforts to encourage residents to report overseas income, with continued guidance and reminders for taxpayers to review their foreign earnings from 2022 to 2024. According to the State Taxation Administration, tax officials have intensified efforts to remind residents to conduct self-assessments of their overseas income. The move aims to…