Latest

Beijing has stressed that it does not intend to rely on a weaker yuan for trade gains, amid a recent rally in the currency and mounting pressure from trade partners to allow it to strengthen. “China has neither the need nor the intention to gain competitive advantages in trade through currency depreciation,” said Pan Gongsheng, governor of the central bank, at a press conference of the country’s top economic officials on Friday. The comments came ahead of a new round of trade talks between China and the United States in…

China has pledged to strengthen maritime law enforcement and bolster legal and institutional mechanisms to defend its claims in disputed waters. Outlined in Beijing’s latest five-year policy blueprint, the resolution reflects its effort to strengthen China’s position in increasingly contested waters. China’s 15th five-year plan, which covers the 2026-2030 period, also signals a push by policymakers to expand China’s influence in shaping global maritime governance and rule-making. Advertisement Unlike the 2021-2025 plan, which underscored deeper participation in global maritime governance, the strategy unveiled on Thursday appears to place greater emphasis…

China’s top securities regulator outlined a plan on Friday to strengthen corporate governance, boost investor returns and cultivate globally competitive companies, as Beijing seeks to reinforce confidence in the country’s capital markets. The regulator would refine incentive and restraint mechanisms for listed companies, encourage stronger governance standards and promote dividend payouts and share buy-backs to improve investor returns, Wu said. Advertisement Authorities would also work to invigorate China’s mergers-and-acquisitions market to enable more efficient allocation of resources and help nurture “more world-class enterprises”, he added. Wu said regulators had already…

China’s top economic officials held a press conference on the sidelines of the “two sessions” – the annual meetings of China’s top legislature and advisory body – in Beijing on Friday. Here are the main takeaways from the meeting: Exchange rate Pan Gongsheng, governor of the People’s Bank of China, said China had no need or intention to depreciate the yuan to gain competitive advantages in trade. The yuan has strengthened significantly against the US dollar in recent months, reaching its highest level in nearly three years. Tech growth China…

China has for the first time included commercial health insurance in its 2026 government work report, signalling efforts to strengthen the country’s social safety net and support the growth of innovative drugs and medical devices. On Thursday, Chinese Premier Li Qiang said the government would “work faster to develop commercial health insurance” and promote the “high-quality development of innovative drugs and medical devices” to better meet people’s diverse needs. Behind the unusual emphasis were an ageing population and slower government revenue growth, analysts said. Healthcare expenditure in China reached more…

On the same day the US and Israel launched air strikes against Iran, a research team led by Liao Longwen with the Northwest Institute of Nuclear Technology published a paper in the Chinese journal Tactical Missile Technology on the ability of US missile defence systems to intercept hypersonic weapons. The US systems were dangerously outmatched by these threats, the researchers concluded in the paper released on Saturday. “Existing US missile defences can theoretically intercept some hypersonic weapons in their final stage, but high speed, manoeuvrability and stealth make it very…

At a panel discussion in Beijing on Thursday as part of the country’s annual “two sessions”, Zhang Shengmin, vice-chairman of the Central Military Commission (CMC), said this year was “crucial for fulfilling the goal for the centenary” of the People’s Liberation Army. “We must deepen political rectification, improve Communist Party conduct, fight corruption, and strengthen loyalty to the party’s core and resolute obedience to the command of President Xi Jinping,” said Zhang, the PLA’s top anti-corruption officer. Advertisement Zhang is the only person on the CMC apart from President Xi…

South China Morning Post