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 delegate visits the Fusion Energy Technology and Industry Conference 2026 in Hefei, east China’s Anhui province, Jan 16, 2026. [Photo/Xinhua] China’s drive to develop controllable nuclear fusion is nearing a historic turning point, with related procurements totaling 10 billion yuan ($1.37 billion) set to be completed this year and early demonstrations of fusion-generated electricity…
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…
Yuanqiao village in Dengfeng, Henan province, has preserved its historic charm while transforming into a natural film studio, creating new economic opportunities. [Photo by Su Ziqing/for chinadaily.com.cn] A 600-year-old village in Central China’s Henan province has become a bustling hub for short film productions. Yuanqiao village in Dengfeng has preserved its historic charm while transforming…