Fiscal Revenue Crosses 10 Trillion Yuan Milestone for the First Half China collected more than 10 trillion yuan in tax revenue during the first six months of 2026, a 4.9% increase year-on-year, according to data from the State Taxation Administration reported by Xinhua on July 31. The milestone was achieved despite a challenging economic environment characterized by weak property transactions, soft consumer spending, and ongoing corporate sector restructuring — all of which typically dampe

政府卖地收入大降31.5% 开发商拿地趋于谨慎 Revenue from land sales by China's local governments fell 31.5% year-on-year in the first half of 2026, according to Ministry of Finance data cited by state media. The steep decline underscores the depth of the adjustment in the country's property market and reflects a structural shift in how land — a critical source of local government financing — is being absorbed by the market. Developer Appetite for Land Remains Selective Land acquisitions by property

SOE Profits Rise 2.4% to 22,475.8 Billion Yuan Despite Revenue Headwinds China's state-owned enterprises (SOEs) reported aggregate profits of 22,475.8 billion yuan in the first half of 2026, a year-on-year increase of 2.4%, according to data from the State-owned Assets Supervision and Administration Commission (SASAC) released in early August. The profit expansion occurred even as total SOE revenue declined — a dynamic that reflects ongoing efficiency improvements, cost discipline, and a s

PBOC Fixes Midpoint at 6.7889; Onshore and Offshore Rates Converge The People's Bank of China (PBOC) set the yuan's official central parity rate at 6.7889 per dollar on August 6, 2026, according to data from the China Foreign Exchange Trade System. On the same day, onshore yuan (CNY) closed the night session at 6.7495 against the dollar — a gain of 15 basis points from the prior session — while the offshore yuan (CNH) traded

EVs, Lithium Batteries and Solar Panels Drive Export Surge China's exports of green technology products — encompassing electric vehicles, lithium batteries, and solar cells — surged 51.6% year-on-year to reach $118 billion in the first half of 2026, according to customs data compiled by Caixin and confirmed by industry sources. The blistering growth rate underscores China's commanding position in the global clean energy supply chain and reflects surging demand from Europe, Southeast Asia,

中海地产前7月合约销售220.73亿元 同比增长18.4% China Overseas Land & Investment (COLI), the Hong Kong-listed flagship property arm of state-owned China State Construction Engineering, reported contracted sales of 22.073 billion yuan for the first seven months of 2026, up 18.4% year-on-year, according to an August 6 exchange filing. Contracted sales area over the same period reached 1.895 million square meters, a gain of 14.1% from the prior-year period. July in Isolation: 2.936 Billion Yuan, +44.0% YoY

Island Retail Boom: 21.6 Billion Yuan in Seven Months Hainan Province's offshore duty-free shopping sector posted 21.6 billion yuan (approximately $3 billion) in sales during the first seven months of 2026, representing a 17.9% year-on-year increase, according to data from the provincial commerce department reported by ECNS.cn on August 6. The strong showing consolidates the island's position as the world's leading duty-free retail destination and highlights the growing appetite among

Gold Holdings Rise to 76.08 Million Ounces China's central bank continued its marathon run of gold accumulation in July 2026, with the People's Bank of China (PBOC) reporting gold reserves of 76.08 million troy ounces as of month-end — up from 75.44 million ounces at the close of June. The 640,000-ounce monthly increment was the largest single-month purchase since late 2025, according to PBOC data released on August 7. 21st Consecutive Monthly Increase

National Accounts: 69.57 Trillion Yuan, 4.7% Full-H1 Gain China's national economy expanded at a pace of 4.7% year-on-year in the first half of 2026, with gross domestic product reaching 69.57 trillion yuan (approximately $10.28 trillion), according to data released by the National Bureau of Statistics (NBS) on July 15. The figure came in broadly in line with the government's annual growth target of 4.5% to 5.0%, though the trajectory

China's second-half 2026 property market is poised for four structural shifts that will reshape the competitive landscape and investment outlook, according to sector analysis released this week, as the sector transitions from "rescue" to "stabilization" under a fundamentally changed policy framework. Shift 1: Policy Logic Changes - From Rescue to Stabilization Past policy responses to property market weakness typically centered on large-scale stimulus - rate cuts,限购 relaxation, and massive li

Country Garden, once China's largest property developer by sales volume, is in the process of transitioning toward normal business operations following years of debt restructuring efforts, but continues to face significant challenges including legacy asset disposal and creditor negotiations, according to industry analysis published in early August. The Road to Normalization Since initiating its offshore debt restructuring in 2023 and completing a major onshore asset disposal program, Country

All 31 provincial-level administrative regions in China have unveiled their artificial intelligence industry development roadmaps, with the latest economic data revealing a clear gradient pattern in AI capability across regions, according to comprehensive industrial analysis published in early August 2026. Regional AI Landscape Beijing, Shanghai, Guangdong, Zhejiang, and Jiangsu lead the national AI industry landscape, with particularly strong concentrations of AI research institutions, techn

China's credit structure continued to improve in the second quarter of 2026, with financial support for science and technology sectors expanding significantly while real estate loans extended their net reduction, according to official monetary policy data. Q2 Credit Highlights Loans to enterprises and public institutions, science and technology innovation sectors, inclusive small and micro enterprises, and green sectors all recorded growth in Q2, while real estate lending continued to post ne

The 20th Central Committee of the Communist Party of China will convene its fifth plenary session in Beijing in October 2026, according to a decision announced at the July 30 Politburo meeting, with the main agenda focused on studying and addressing major issues in the comprehensive and strict governance of the Party. Agenda Items According to the official summary, the plenum will hear a work report from the Politburo and discuss a series of major issues concerning the sustained implementatio

China and Argentina have renewed their bilateral currency swap agreement, with the People's Bank of China announcing on August 6 that the two central banks have signed a new five-year swap arrangement worth 130 billion yuan or 28 trillion Argentine pesos. Agreement Details The renewed agreement, approved by China's State Council, replaces the previous arrangement and will remain in effect for five years, with the option to extend by mutual consent. The swap facility provides both