China urges the United States to halt its tariff measures based on the Section 232 investigation as soon as possible, a spokesperson for the Ministry of Commerce said Thursday. At a regular press conference, Spokesperson He Yongqian said the Section 232 duties imposed on the imported automobiles, steel and aluminum, as well as the Section 232 investigation into pharmaceuticals are "a typical act of unilateralism and protectionism." These measures harm the interests of other countries and undermine the rules-based multilateral trading system, but fail to benefit America's domestic industries, the spokesperson said. China calls on the U.S. side to immediately end the Section 232 tariff measures and properly address the concerns of all parties through equal-footed dialogue, the spokesperson added.

China's central bank on Thursday cut the reserve requirement ratio (RRR) for financial institutions by 0.5 percentage points, its first RRR cut of the year. The move is expected to provide about 1 trillion yuan ($138.77 billion) in long-term liquidity to the market. The reduction came after Pan Gongsheng, governor of the People's Bank of China (PBC), said on May 7 that the central bank would roll out measures to strengthen macroeconomic regulation, including cuts to the lending policy rate and the RRR. Pan said that the RRR cut would improve the structure of liquidity provided by the central bank to the country's banking system, reduce banks' liability costs, and help cement the stability of their liabilities.

China's commerce ministry on Thursday condemned the U.S. for abusing export control measures targeting Chinese tech giant Huawei's Ascend chips, pledging to take resolute measures to protect the legitimate rights and interests of Chinese companies. "The United States has abused its export control measures and imposed stricter restrictions on Chinese chip products under unfounded allegations," said spokesperson He Yongqian in response to recent U.S. announcement that using Huawei's Ascend chips anywhere in the world violates U.S. export controls. She said the announcement is a typical non-market and unilateral bullying practice, which fully exposes the unilateralist and protectionist nature of the United States.

China is always open to addressing economic and trade concerns through dialogue and communication, the Ministry of Commerce said on Thursday. According to the consensus reached in China-U.S. talks in Geneva, Switzerland, both sides have agreed to establish a mechanism for economic and trade consultations to maintain communication regarding their respective concerns in economy and trade, spokesperson He Yongqian told a press conference, noting that relevant information will be released in due course. China and the United States held a high-level meeting on economic and trade affairs in Geneva from May 10 to 11. The two sides reached multiple positive consensuses during the meeting, agreeing to significantly reduce the level of bilateral tariffs.

China is intensifying efforts to advance its urban renewal initiative as it strives to build livable, resilient and smart cities, and to bolster high-quality development. In its latest push, the country on Thursday unveiled a set of guidelines, pledging increased policy and financial support for urban renewal projects, which can range from gas pipe updates and lift installations to the renovation of old factories into commercial zones. The guidelines, issued by the general offices of the Communist Party of China (CPC) Central Committee and the State Council, are designed to achieve key progress in the country's urban renewal campaign by 2030. They also aim to improve safety conditions, enhance service efficiency, elevate living environments, develop business models, and preserve cultural heritage.

A 0.5 percentage-point reduction in the reserve requirement ratio (RRR) for eligible financial institutions takes effect Thursday, with the move expected to inject roughly 1 trillion yuan (about 139 billion U.S. dollars) of long-term liquidity into China's financial market. The RRR cut, the first such move since the start of this year, came after the seven-day reverse repos rate cut by 0.1 percentage point by the Chinese central bank, which already took effect on May 8. The reduction in RRR and reverse repos rate, along with expanding re-lending facilities and sci-tech innovation bonds issuance, were among a raft of supportive measures announced last week by monetary and financial regulatory bodies, as the world's second-largest economy steps up efforts to stabilize markets and sustain economic recovery amid external headwinds.

Following China-US high-level meeting on economic and trade affairs in Geneva over the weekend that achieved substantial progress by significantly reducing bilateral tariff levels, the two countries have moved to make the relevant tariff adjustments on Wednesday. China-US trade flows, once hampered by steep tariffs, are starting normalizing, according to ports and exporters. The US government has removed the additional 91 percent tariffs on Chinese goods imposed under Executive Orders No. 14259 (April 8, 2025) and No. 14266 (April 9, 2025), effective from 00:01 am Eastern Time on May 14, the Chinese Ministry of Commerce confirmed on Wednesday.

China issued 10.06 trillion yuan (about 1.39 trillion U.S. dollars) in new yuan-denominated loans in the first four months of 2025, central bank data showed on Wednesday. At the end of April, outstanding yuan loans amounted to 265.7 trillion yuan, up 7.2 percent year on year, according to the People's Bank of China. In the first four months, household loans increased by 518.4 billion yuan, while loans to enterprises increased by 9.27 trillion yuan.

China on Wednesday suspended its unreliable entity list and export control measures on multiple U.S. entities, the Ministry of Commerce has said. When answering media inquiries, a ministry spokesperson said that a measure which added 11 U.S. firms to China's unreliable entity list, which was announced on April 4, has been suspended for 90 days. An April 9 measure that added six U.S. firms to China's unreliable entity list has also been paused, the spokesperson said, adding that domestic enterprises are now permitted to apply to conduct transactions with these entities.

The State Administration for Market Regulation, China's top market regulator, and four other government organs have urged major food delivery platforms to address pressing issues concerning the sector's competitive practices. In a recent regulatory talk with food delivery platforms including JD.com, Meituan and Ele.me, the government agencies called on them to strictly adhere to the country's e-commerce, anti-unfair-competition, and food safety laws. As of December 2024, the number of online food delivery users in China reached 592 million, accounting for 53.4 percent of the total internet users of the country, according to statistics released by the China Internet Network Information Center.

Following two days of talks in Switzerland, China and the US released a joint statement on Monday, announcing several key agreements, most notably a significant reduction in tariffs on both sides. Specifically, the US will remove a total of 91-percent additional tariffs on Chinese products, and China will accordingly cut 91-percent countermeasure additional tariffs against US imports. In addition, the US will suspend a 24-percent "reciprocal tariff" for 90 days, and China likewise will suspend a 24-percent countermeasure tariff for the same period, according to the Ministry of Commerce.

Despite global economic uncertainties, China's listed companies posted solid first-quarter performance in 2025, driven by robust consumer spending and steady advances in technological innovation. Among the 5,400 listed companies that have released financial reports for the first quarter (Q1), more than 70 percent were in the black, according to financial information provider Wind. The combined net profit attributable to shareholders of all listed firms came in at 1.49 trillion yuan (about 207 billion U.S. dollars), up 3.64 percent from a year ago, the data showed. According to analysts, the Q1 reports reflect a surge in emerging consumption trends and booming technological innovation among China's listed companies, underscoring the country's ongoing shift toward high-quality development.

UN Secretary-General Antonio Guterres welcomed the recent trade talks between the United States and China, describing the dialogue as a "positive" sign for the global economy. "We've always said that we don't need any escalation in the trade war. We need dialogue," Stephane Dujarric, spokesman for the UN chief, said at a briefing on Monday. The China-U.S. high-level meeting on economic and trade affairs was held in Geneva, Switzerland, over the weekend, during which both sides reached a consensus on several key issues.

Shanghai's tax authority has revealed a shopping rush for foreigners during the May Day holiday, with vintage brands showing renewed charm. Official data showed the eastern Chinese city's sales under the departure tax refund policy soared by 150 percent year-on-year, and refund amounts jumped 170 percent from May 1 to 5. The surge follows China's latest revisions to its management measures for tax refunds on shopping by overseas tourists. Notably, the refund eligibility threshold has been more than halved from 500 yuan (about 69 U.S. dollars) to 200 yuan, a move that has galvanized participation from traditional food and retail sectors.

China will adjust tariffs on imported U.S. products from 12:01 p.m. Wednesday, the Customs Tariff Commission of the State Council announced on Tuesday. China will modify accordingly the application of the additional ad valorem rate of duty on articles of the United States set forth in the Announcement of the Customs Tariff Commission of the State Council No. 4 of 2025, by suspending 24 percentage points of that rate for an initial period of 90 days, while retaining the remaining additional ad valorem rate of 10 percent on those articles. The country will also remove the modified additional ad valorem rates of duty on those articles imposed by the No. 5 and No. 6 announcements issued by the Customs Tariff Commission of the State Council on April 9 and 11, respectively.