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Seasonally adjusted government deficit at 2.9% of GDP in the euro area and in the EU

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EU family benefits averaged €830 per person in 2022

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Overseas Chinese join Belt and Road Initiative

CHONGQING — The first Belt and Road Conference for Overseas Chinese Cooperation and Development opened in Southwest China’s Chongqing municipality on Thursday, aiming to harness the strength of the overseas Chinese communities to advance the Belt and Road Initiative. Deals worth 43.79 billion yuan (about $6.13 billion) covering 66 projects across green energy, cross-border trade,…

China imports 7.4t yuan of consumer goods in 2021-2024: minister

BEIJING — China imported consumer goods worth 7.4 trillion yuan (about $1.03 trillion) between 2021 and 2024, the first four years of the 14th Five-Year Plan period (2021-2025), China’s Commerce Minister Wang Wentao told a press conference Friday. Citing figures of the World Trade Organization, he said goods imports by the Chinese mainland and China’s…

EU Trade Deficit with China Surges 15% in May, Topping $1 Billion a Day

In May 2025, EU imports from China remained flat, while exports fell by a further 11%. As a result, its trade deficit widened to €27.4 billion, up 15% from €23.9 billion in May 2024. That amounts to more than $1 billion per day. It is with such numbers that the EU meets China at a…

China’s Daqing Oilfield reports oil, gas production rises in H1

Employees check equipment at Daqing Oilfield in Heilongjiang province in May 2024. JIANG NAN/FOR CHINA DAILY HARBIN — Daqing Oilfield, one of China’s largest energy production bases, reported rises in both crude oil and natural gas production in the first half of this year. The oilfield’s domestic crude oil output increased by 10,900 metric tons…

China becomes Vietnam’s largest seafood export market in H1

HANOI — China became Vietnam’s largest seafood export market in the first half of 2025, with exports reaching $1.1 billion, up 45 percent year-on-year, according to official data. According to statistics from Vietnam’s Ministry of Agriculture and Environment, Vietnam’s total seafood export revenue in the first six months of 2025 reached $5.16 billion, up 16.9…

Chongqing ready for intelligent vehicle conference

A view of a digital factory’s automated workshop at an enterprise in Chongqing. WANG QUANCHAO/XINHUA Southwest China’s Chongqing municipality, with a solid foundation in the automotive industry, will hold the World Intelligent Vehicle Conference 2025 from July 30 to 31, further promoting the upgrading of new energy vehicles in the country. The conference is being organized…

PepsiCo earnings, revenue beat forecasts amid ‘challenging environment’

NEW YORK — PepsiCo reported stronger-than-expected earnings and revenue for the second fiscal quarter Thursday, while signaling confidence in its full-year outlook as recent strategic shifts begin to take hold. Despite ongoing challenges in North America, the company expects a gradual recovery in demand, driven by product innovation, pricing strategy and international momentum, according to…

Much more needed to ready nation for stablecoins

CAI MENG/CHINA DAILY The recent global momentum around stablecoin legislation has underscored the alternative currency’s growing influence in today’s international monetary and financial architecture. At the heart of this discussion lies a fundamental question: What exactly are stablecoins — and how should we understand their impact and relationship with sovereign currencies? For readers unfamiliar with…