It was a moment that captured the promise of a new era. On the eve of the May Day holiday, a container ship from Italy docked at Yangpu Port in Danzhou, Hainan province, carrying a set of zero-tariff production equipment worth about 16 million yuan ($2.36 million). Within hours, the machinery — a state-of-the-art tablet packaging line — cleared customs and was rushed to the production floor of Hainan Zambon Pharmaceutical in Haikou National High-Tech Zone. By early June, installation and training were complete. Foreign engineers had barely left when…
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Latest China finance news covering banking, investing, fintech, cryptocurrencies, economic policy, consumer spending, and financial trends shaping global markets.
The International Monetary Fund on Tuesday projected China’s economy to expand by 4.4 percent in 2026, a forecast that underscores the country’s resilience amid global headwinds from the Middle East conflict. The forecast was unveiled during the 2026 Spring Meetings of the IMF and the World Bank Group, or WBG, held in Washington from April 13 to 19. The latest World Economic Outlook was released as the heads of the IMF, the WBG, and the International Energy Agency met on Monday to coordinate their response to the conflict, one day…
World’s energy pain is far from over
Major shocks don’t happen in isolation. Like an earthquake followed by a tsunami, the deeper damage unfolds later. It’s the same with the US and Israel’s strikes against Iran. What began as an energy disruption is morphing into a severe and persistent economic shock, especially in the Global South. At the peak of the crisis, oil prices surged more than 50 percent to $110-116 per barrel before easing slightly to $90-100 after the temporary ceasefire. Liquefied natural gas took an even harder hit, soaring as much as 143 percent to…