The world’s second-largest economy demonstrated resilience and adaptability in the first half of 2026, with gross domestic product expanding by 4.7 percent on an annual basis. This figure, released by the National Bureau of Statistics on Wednesday, underscores a trajectory of moderate but stable expansion for Beijing as it navigates complex global headwinds and domestic structural transformations. The total economic output reached approximately 69.57 trillion yuan, equivalent to 10.25 trillion US dollars, marking a significant milestone in the nation’s ongoing development journey. While the headline growth rate of 4.7 percent reflects a robust performance, a closer examination of quarterly data reveals nuanced dynamics. The second quarter alone saw a growth rate of 4.3 percent, suggesting that momentum may have moderated slightly compared to earlier periods. This deceleration is not necessarily a cause for alarm but rather an indication of the economy transitioning from high-spee...

  Haikou, July 14 — In a decisive move that underscores its commitment to ecological civilization and carbon neutrality, the southern Chinese island province of Hainan has firmly established a deadline to prohibit the sale of internal combustion engine vehicles by 2030. This ambitious target positions Hainan at the forefront of the nation’s transition toward new energy vehicles (NEVs), serving as a national demonstration zone for sustainable development. The recently released provincial plan for 2026-2030 reiterates this goal, providing a clear roadmap for the complete transformation of the region’s automotive landscape. The scope of this prohibition is comprehensive and far-reaching. By the end of the decade, every newly added or replaced private vehicle in Hainan must be a new energy vehicle. This mandate extends beyond personal transportation to include all new and replacement vehicles used in public service and commercial operations. The only exceptions to this strict rule wil...

  In a decisive move that underscores its commitment to global climate action, China has unveiled the Action Plan for Carbon Peaking during the 15th Five-Year Plan period, spanning from 2026 to 2030. This comprehensive roadmap outlines the nation’s strategic pathway to achieve peak carbon emissions by the end of the decade, marking a pivotal moment in the world’s largest emitter’s environmental journey. The plan not only sets ambitious quantitative targets but also signals a profound structural shift in how China generates energy, operates industries, and shapes daily life. By prioritizing non-fossil fuels, fostering green innovation, and promoting low-carbon lifestyles, China is positioning itself at the forefront of the global green transition while reinforcing its energy security amid volatile international markets. The newly released plan establishes two cornerstone targets that will define China’s environmental trajectory over the next five years. First, it aims to reduce carb...

  In a significant gathering that underscored the central role of scientific advancement in national development, Chinese President Xi Jinping delivered a comprehensive address on Wednesday, July 8, calling for accelerated efforts to achieve high-level self-reliance in science and technology. Speaking at a major conference in Beijing that combined the national science and technology award ceremony with the general assemblies of the Chinese Academy of Sciences and the Chinese Academy of Engineering, Xi outlined a strategic vision for the coming decade. His remarks emphasized leveraging technological innovation as the primary engine for Chinese modernization, setting the tone for the critical 15th Five-Year Plan period from 2026 to 2030. The meeting served as both a celebration of past achievements and a roadmap for future challenges. Xi presented the nation’s highest scientific honors to Chen Liquan, a researcher at the Institute of Physics under the Chinese Academy of Sciences, and...

  A notable shift in sentiment is emerging among major global financial institutions regarding China’s economic trajectory. Despite a backdrop of persistent geopolitical tensions, ongoing trade frictions, and volatile energy prices that continue to challenge the broader global economy, leading organizations are increasingly optimistic about China’s growth prospects for 2026. This renewed confidence is not based on traditional drivers such as property development or broad-based consumer spending, but rather on a structural transformation toward high-tech manufacturing, green energy solutions, and artificial intelligence infrastructure. The World Bank has maintained its 2026 gross domestic product growth forecast for China at 4.4 percent. In its July China Economic Update, the institution highlighted steady gains in high-tech sectors as the primary anchor for this stability. Data from the first five months of the year reveals that investment in high-tech industries rose by 4.5 percen...