Xi Jinping had a busy Wednesday, holding a video call with Russian President Putin, a phone call with US President Trump, and a meeting with Le Hoai Trung, Vietnam’s foreign minister and a special envoy of Vietnam’s General Secretary To Lam.
Today’s top items:
1. Xi-Putin video call - Xi and Putin had a video chat on Wednesday. Neither side’s readout mentioned Ukraine or the growing risk of war over Iran, but they undoubtedly discussed those issues when they “exchanged in-depth views on international and regional hotspot issues of mutual concern.” Japan and Taiwan were also not mentioned.
The Xinhua readout quotes Xi as saying:
over the past year, the two leaders met twice, guiding China-Russia relations into a new stage of development. The two countries solemnly commemorated the 80th anniversary of the victory of the World Anti-Fascist War, demonstrating their firm determination to defend the outcomes of World War II and international fairness and justice. Bilateral economic and trade exchanges maintained a steady momentum. The “China-Russia Year of Culture” concluded successfully, pushing cultural and people-to-people exchanges and cooperation to a new level, with closer personnel exchanges. The two sides successively and successfully hosted the Shanghai Cooperation Organization (SCO) Tianjin Summit and the Prime Ministers’ Meeting in Moscow, strengthened multilateral coordination, and continued to commit to building a more just and reasonable global governance system…
Both sides should seize historical opportunities, maintain close high-level exchanges, strengthen practical cooperation in various fields, and ensure the continued development of China-Russia relations along the right track with deeper strategic coordination and a more active sense of responsibility as major countries…
since the beginning of the year, the international situation has become increasingly turbulent. As responsible major countries and permanent members of the UN Security Council, China and Russia have an obligation to promote the international community’s adherence to fairness and justice, firmly defend the outcomes of World War II, resolutely uphold the international system with the United Nations at its core and the basic norms of international law, and work together to maintain global strategic stability.
The Russian side said that Putin accepted Xi’s invitation to visit China in the first half of this year.
2. Xi-Trump phone call - Xi also held a call with President Trump. The Xinhua readout cites Xi as telling Trump that:
In the new year, I am willing to continue working with you to guide the ship of China-U.S. relations through wind and waves, moving forward steadily, and to accomplish more major and good things. The U.S. side has its concerns, and the Chinese side has its concerns. China is true to its word and resolute in its actions; we do what we say. As long as both sides meet each other halfway with an attitude of equality, respect, and reciprocity, we can find ways to resolve each other’s concerns
Xi, according to the readout, also raised Taiwan and specifically mentioned arms sales, perhaps because there may be another big arms sales package to Taiwan in the works and the Chinese side does not want it to happen, and especially not before Trump’s April visit:
Xi Jinping emphasized that the Taiwan question is the most important issue in China-U.S. relations. Taiwan is Chinese territory; China must defend its national sovereignty and territorial integrity and will never allow Taiwan to be separated. The U.S. side must handle the issue of arms sales to Taiwan with caution.
According to Xinhua, Trump said in part:
I am happy to see China succeed, and the U.S. is willing to strengthen cooperation with China to promote new developments in bilateral relations. I value China’s concerns regarding the Taiwan question and am willing to maintain communication with the Chinese side to keep U.S.-China relations good and stable during my term.
There was no mention of the April visit in the PRC readout of the call.
The US readout is Trump’s post to Truth Social:
I have just completed an excellent telephone conversation with President Xi, of China. It was a long and thorough call, where many important subjects were discussed, including Trade, Military, the April trip that I will be making to China (which I very much look forward to!), Taiwan, the War between Russia/Ukraine, the current situation with Iran, the purchase of Oil and Gas by China from the United States, the consideration by China of the purchase of additional Agricultural products including lifting the Soybean count to 20 Million Tons for the current season (They have committed to 25 Million Tons for next season!), Airplane engine deliveries, and numerous other subjects, all very positive! The relationship with China, and my personal relationship with President Xi, is an extremely good one, and we both realize how important it is to keep it that way. I believe that there will be many positive results achieved over the next three years of my Presidency having to do with President Xi, and the People’s Republic of China!
3. US convenes “Critical Minerals Ministerial” - The Trump administration convened a “Critical Minerals Ministerial” in Washington, launching a coordinated global effort to break China’s dominance over strategic supply chains. Vice President JD Vance and Secretary of State Marco Rubio framed the initiative as a necessary correction to “distorted” markets that punish long-term strategic investment, with Rubio drawing parallels to the 1974 Washington Energy Conference that established the International Energy Agency in response to OPEC’s oil embargo. The initiative, dubbed FORGE, aims to create a network of at least 55 partners to secure diverse and reliable access to materials essential for defense and advanced manufacturing.
A central piece of the strategy involves “Action Plans” with the European Union and Japan to implement coordinated trade policies, specifically “border-adjusted price floors.” These mechanisms are designed to insulate non-Chinese projects from price volatility and “non-market disruption,” effectively ensuring their economic viability against predatory pricing. This diplomatic push complements the administration’s domestic “Project Vault,” a strategic stockpile backed by $10 billion in seed funding.
The readouts from the US side made no mention of China. This is a big deal, and it shows the Trump Administration recognizes the importance of working with allies and like-minded countries on this existential threat to global industrial supply chains, and these efforts could go a long way towards relatively quickly eroding China’s chokehold over rare earths and critical minerals. But what will Xi do as he sees his leverage slipping away? And are there any regrets from the Chinese side about overplaying their hand last fall when they weaponized rare earths supply chains globally with their massively expanded and intrusive export control regime?
4. H200 chip sales to China in limbo - The Financial Times reports on the latest twist in Nvidia’s attempts to sell the H200 AI chips to China. The State Department, and specifically the Bureau of Arms Control and Nonproliferation I believe, is advocating for tighter conditions on the use of the chips. It seems unlikely that Secretary of State and National Security Advisor Marco Rubio would not be aware of State’s position.
5. Explaining Document No. 1 - The State Council Information Office held a press conference in Beijing on Wednesday. Han Wenxiu, Deputy Director of the Office of the Central Financial and Economic Affairs Commission in charge of daily work and Director of the Office of the Central Rural Work Leading Group, and Zhu Weidong, Deputy Director of the Office of the Central Financial and Economic Affairs Commission and Deputy Director of the Office of the Central Rural Work Leading Group, introduced the document and answered questions from reporters.
Han Wenxiu emphasized that the document anchors national strategy on securing the bottom line of food security. He stated that policy must now simultaneously grasp yield, capacity, and ecological sustainability to stabilize grain output at around 700 million tons. Han also addressed the post-poverty landscape, noting that after a five-year transition, the country is moving toward a mechanism of normalized assistance to prevent a return to poverty, while confirming China’s intent to maintain robust participation in global agricultural trade to satisfy demand for commodities like soybeans.
Zhu Weidong focused his remarks on the critical role of technology and the development of new quality productive forces. He urged a shift toward seeking production capacity from science, specifically through the integration of artificial intelligence with traditional farming. Zhu highlighted the rapid expansion of application scenarios for the Internet of Things and robotics, noting that China now operates over 300,000 agricultural drones, representing the majority of the global fleet. He stressed that the path forward requires strengthening the principal role of enterprises in innovation to overcome specific bottlenecks in seed breeding and the development of specialized machinery for hilly terrain.
6. Coal power capacity expanding - According to a new report by the Centre for Research on Energy and Clean Air and Global Energy Monitor, China’s coal power expansion accelerated dramatically in 2025 despite a concurrent drop in actual coal generation. New and reactivated project proposals surged to a record 161 GW, while the country commissioned 78 GW of new capacity—the highest annual level in a decade. To put this in perspective, the capacity added in just one year exceeds India’s total net coal additions over the entire period from 2015 to 2024. The construction boom included over 50 large-scale units, a sharp increase from the previous decade’s average.
This expansion presents a paradox: the physical build-out of coal infrastructure is hitting record highs even as clean energy installations successfully drove China’s CO2 emissions into reverse and reduced the actual amount of electricity generated from coal. The report underscores a widening gap between installed capacity and utilization rates, suggesting that while the plants are being built, they are being run less frequently.
State media outlet the Global Times defended the surge, dismissing Western concerns as ignorant of China’s “pragmatic” energy strategy. The article argued that the role of coal is fundamentally shifting from acting as the primary baseload power source to serving as a flexible “regulator.” In Beijing’s view, this continued expansion is a necessary stability mechanism to backstop the intermittency of the country’s massive wind and solar rollout, ensuring energy security remains intact during the transition to dual-carbon goals.
Thanks for reading.
1. Xi-Putin video call
On the afternoon of February 4, President Xi Jinping held a video meeting with Russian President Vladimir Putin at the Great Hall of the People in Beijing.
2月4日下午，国家主席习近平在北京人民大会堂同俄罗斯总统普京举行视频会晤。
Xi Jinping extended New Year greetings to President Putin and the Russian people, noting that today coincides with “Li Chun” (the Beginning of Spring) on the Chinese lunar calendar, symbolizing the return of spring to the earth and representing a new beginning. “I am willing to join President Putin on this day filled with auspicious meaning to draw up a new blueprint for China-Russia relations.” Putin stated that the Beginning of Spring marks the recovery of all things, and Russia-China relations will also flourish and forge ahead. He wished President Xi and the Chinese people a Happy New Year, boundless energy, and immediate success.
习近平向普京总统和俄罗斯人民致以新春的良好祝福，表示今天恰逢中国农历立春，象征着春回大地，代表着新的开始。我愿同普京总统在这充满美好寓意的一天共同擘画中俄关系新的蓝图。普京表示，立春时节万物复苏，俄中关系也将蓬勃发展，奋发向上。祝愿习近平主席和中国人民新春快乐、龙马精神、马到成功。
Xi Jinping pointed out that over the past year, the two leaders met twice, guiding China-Russia relations into a new stage of development. The two countries solemnly commemorated the 80th anniversary of the victory of the World Anti-Fascist War, demonstrating their firm determination to defend the outcomes of World War II and international fairness and justice. Bilateral economic and trade exchanges maintained a steady momentum. The “China-Russia Year of Culture” concluded successfully, pushing cultural and people-to-people exchanges and cooperation to a new level, with closer personnel exchanges. The two sides successively and successfully hosted the Shanghai Cooperation Organization (SCO) Tianjin Summit and the Prime Ministers’ Meeting in Moscow, strengthened multilateral coordination, and continued to commit to building a more just and reasonable global governance system.
习近平指出，过去一年我们两度会晤，引领中俄关系步入新的发展阶段。两国隆重纪念世界反法西斯战争胜利80周年，展示了双方捍卫二战胜利成果和国际公平正义的坚定决心。双边经贸往来势头稳健。“中俄文化年”圆满收官，两国人文交流合作迈上新台阶，人员往来更加密切。双方相继成功主办上海合作组织天津峰会和莫斯科总理会议，加强多边协作，继续致力于构建更加公正合理的全球治理体系。
Xi Jinping emphasized that this year marks the beginning of China’s “15th Five-Year Plan.” China will more actively take the initiative to expand high-level opening-up and share new development opportunities with countries around the world, including Russia. This year also marks the 30th anniversary of the establishment of the China-Russia strategic partnership of coordination, the 25th anniversary of the signing of the “Treaty of Good-Neighborliness and Friendly Cooperation between China and Russia,” and the launch of the “China-Russia Year of Education.” Both sides should seize historical opportunities, maintain close high-level exchanges, strengthen practical cooperation in various fields, and ensure the continued development of China-Russia relations along the right track with deeper strategic coordination and a more active sense of responsibility as major countries.
习近平强调，今年是中国“十五五”开局之年，中方将更加积极主动扩大高水平对外开放，同包括俄罗斯在内的世界各国共享发展新机遇。今年也是中俄战略协作伙伴关系建立30周年、《中俄睦邻友好合作条约》签署25周年和“中俄教育年”启动之年。双方要把握历史契机，密切高层交往，加强各领域务实合作，以更深层次的战略协作和更加积极有为的大国担当，确保中俄关系继续沿着正确轨道不断发展。
Xi Jinping stated that since the beginning of the year, the international situation has become increasingly turbulent. As responsible major countries and permanent members of the UN Security Council, China and Russia have an obligation to promote the international community’s adherence to fairness and justice, firmly defend the outcomes of World War II, resolutely uphold the international system with the United Nations at its core and the basic norms of international law, and work together to maintain global strategic stability.
习近平表示，开年以来，国际形势愈发动荡。作为负责任大国和联合国安理会常任理事国，中俄两国有义务推动国际社会坚守公平正义，坚定捍卫二战胜利成果，坚决维护以联合国为核心的国际体系和国际法基本准则，携手维护全球战略稳定。
Putin stated that in the past year, Russia and China jointly commemorated the 80th anniversary of the victory of World War II, firmly upholding world peace won through the significant sacrifices of the Russian and Chinese peoples and defending historical truth. Cooperation in fields such as trade, energy, technology, and agriculture became deeper and more substantial; people-to-people exchanges grew increasingly close; the Year of Culture was a complete success; and mutual visa-exemption policies made travel more convenient for people of both countries. Looking ahead to the new year, Russia is full of confidence in Russia-China relations. Both sides should continue to unswervingly support each other in safeguarding national sovereignty and security, achieving economic and social development and prosperity, and promoting exchanges in education, culture, and other fields to benefit the two peoples. Facing a complex and volatile international situation, Russia is willing to continue strengthening strategic coordination with China within multilateral platforms such as the United Nations, the Shanghai Cooperation Organization, and BRICS to inject positive energy into international affairs. Russia will actively support China in hosting the APEC Economic Leaders’ Meeting in Shenzhen.
普京表示，过去一年，俄中共同纪念二战胜利80周年，坚定维护俄中人民付出重大牺牲赢得的世界和平，捍卫历史真相。两国贸易、能源、科技、农业等领域合作走深走实，人文交流日益密切，文化年取得圆满成功，互免签证政策让两国人民往来更加便利。展望新的一年，俄方对俄中关系充满信心。双方要继续坚定不移支持彼此维护国家主权、安全，实现经济社会发展繁荣，促进教育、文化等领域人文交流，造福两国人民。面对复杂多变的国际形势，俄方愿同中方继续在联合国、上海合作组织、金砖国家等多边平台加强战略协作，为国际事务注入正能量。俄方将积极支持中国在深圳举行亚太经合组织领导人非正式会议。
The two heads of state also exchanged in-depth views on international and regional hotspot issues of mutual concern.
两国元首还就共同关心的国际和地区热点问题深入交换了意见。
Wang Yi attended the event.
王毅参加活动。
Videoconference with President of China Xi Jinping • President of Russia
I would like to say a few words about the results of last year. I believe that we properly celebrated the 80th anniversary of victory in World War II in Moscow in May and in Beijing in September. The fact that we did this together has demonstrated to the world our solidarity and Russia and China’s readiness to uphold historical truth and carefully preserve the memory of the heroism of our countries’ people, who sacrificed tens of millions of lives to restore peace on the planet. China’s Presidency of the Shanghai Cooperation Organisation, which culminated in the Tianjin summit, produced significant practical results.
During our talks in Moscow and Beijing, we held detailed discussions on the main spheres of our relations and mapped out ambitious tasks for the further deepening of bilateral cooperation. Our governments are working energetically every day to implement these agreements.
Economic cooperation continued to develop steadily in 2025. Despite a minor decline, which I would describe as an adjustment of indicators, our bilateral trade has been considerably above $200 billion for three years in a row.
Russia is the leading supplier of energy resources to the People’s Republic of China. Our energy partnership is mutually beneficial and truly strategic. We maintain an active dialogue in peaceful nuclear research and are promoting high-tech projects, including in industry and space exploration. According to our data, agricultural trade has increased by over 20 percent...
Regarding international affairs, the ties between Moscow and Beijing in foreign policy remain an important stabilising factor amidst growing turbulence in the world. We are ready to continue the closest coordination on global and regional agendas, both bilaterally and within all the multilateral frameworks: the UN, BRICS, the Shanghai Cooperation Organisation, and others, where the Russian-Chinese tandem plays an essential role. We wish our Chinese friends success and promise all necessary support during China’s chairmanship of the Asia-Pacific [Economic] Cooperation forum...
I would like to thank you for sending Comrade Shoigu to Beijing recently for consultations with Comrade Wang Yi on international and regional issues in preparation for our meeting. He has briefed me on the content of their discussions. Today, I look forward to a thorough exchange of views with you on our major strategic priorities...
through the SCO Summit in Tianjin and the SCO Heads of Government Council meeting in Moscow, we have strengthened our multilateral coordination. This allows us to continue our vital work in fostering a multipolar world order and a more just and equitable system of global governance...
It is therefore imperative that we seize this historic opportunity. By continually deepening our strategic coordination and jointly shouldering our responsibilities as major countries, we can ensure that China-Russia relations continue their steady and sustained advancement on the correct long-term trajectory.
Xi Jinping invited Putin to pay an official visit to China in the first half of the year: “The invitation was gratefully accepted.”
Putin plans to attend the Asia-Pacific Economic Cooperation (APEC) summit in China in November.
Xi Jinping told his Russian counterpart Vladimir Putin on Wednesday that Beijing and Moscow should work together for global stability and that a “grand plan” was needed to develop ties between the two nations.
The video call was the first meeting between Xi and Putin this year as both sides seek to ramp up strategic alignment amid rising global geopolitical tensions.
The talks were held as Russia’s New START Treaty with the United States – a nuclear arms agreement signed in 2010 – is set to expire on Thursday.
Xi, Putin hold planned video call amid US-Iran talks by China-Russia Report
Putin and Xi conducted the second high-level bilateral meeting in a week, only three days after Chinese Foreign Minister Wang Yi met with Russian Security Council head Sergei Shoigu in Beijing in advance of the meeting.
While the meeting was pre-planned, it very likely was concerned with developments in the Middle East, especially the prospect of a regional war involving Iran. According to Axios, U.S. - Iran talks are collapsing, significantly raising the probability of armed conflict in the Middle East. In his earlier conversation with Shoigu, Wang appeared to allude to different perspectives on the Iranian issue (and potentially Beijing’s growing commercial links with non-U.S. but Western powers, which typically are also oil/energy importers), as he distinguished between “respective and common interests.”
China, the world’s largest energy importer, and Russia, one of the world’s largest energy exporters, have structurally different interests in energy markets. China would face worsening terms of trade in the event of major, sustained global energy production outages. Conversely, Russian energy exports could benefit enormously – although Moscow does not wish to be seen stimulating unrest in the Middle East, given its important political, defense, and commercial ties there.
2. Xi-Trump phone call
Xinhua readout - 习近平同美国总统特朗普通电话-新华网
On the evening of February 4th, President Xi Jinping held a phone conversation with U.S. President Donald Trump.
新华社北京2月4日电 2月4日晚，国家主席习近平同美国总统特朗普通电话。
Xi Jinping pointed out that over the past year, we have maintained good communication and held a successful meeting in Busan, steering the course of China-U.S. relations, which was welcomed by the people of both countries and the international community. I attach great importance to China-U.S. relations. In the new year, I am willing to continue working with you to guide the ship of China-U.S. relations through wind and waves, moving forward steadily, and to accomplish more major and good things. The U.S. side has its concerns, and the Chinese side has its concerns. China is true to its word and resolute in its actions; we do what we say. As long as both sides meet each other halfway with an attitude of equality, respect, and reciprocity, we can find ways to resolve each other’s concerns. This year, both China and the United States have significant agendas: China is kicking off its “15th Five-Year Plan,” and the United States will celebrate its 250th anniversary. The two countries will also host the APEC Economic Leaders’ Meeting and the G20 Summit, respectively. Both sides should follow the consensus we have reached, strengthen dialogue and communication, properly manage differences, and expand practical cooperation. Do not do evil because it is small; do not leave undone a small good because it is small [Bill: 不以善小而不为，不以恶小而为之, from Liu Bei in Records of the Three Kingdoms]. By taking things one step at a time, we can continuously accumulate mutual trust and forge a correct path for getting along, making 2026 a year in which two major powers, China and the United States, move toward mutual respect, peaceful coexistence, and win-win cooperation.
习近平指出，过去一年，我们保持着良好沟通，在釜山成功会晤，为中美关系领航把舵，受到两国人民和国际社会欢迎。我高度重视中美关系。新的一年，我愿同你继续引领中美关系这艘大船穿越风浪、平稳前行，多办一些大事、好事。美方有美方的关切，中方有中方的关切。中方言必信，行必果，说到做到。只要双方秉持平等、尊重、互惠的态度相向而行，就可以找到解决彼此关切的办法。今年中美两国各自都有不少重要议程，中国“十五五”开局起步，美国将迎来建国250周年，两国将分别主办亚太经合组织领导人非正式会议、二十国集团领导人峰会。双方要按照我们达成的共识，加强对话沟通，妥善管控分歧，拓展务实合作，不以善小而不为，不以恶小而为之，一件事一件事去做，不断积累互信，走出一条正确相处之道，让2026年成为中美两个大国迈向相互尊重、和平共处、合作共赢的一年。
Xi Jinping emphasized that the Taiwan question is the most important issue in China-U.S. relations. Taiwan is Chinese territory; China must defend its national sovereignty and territorial integrity and will never allow Taiwan to be separated. The U.S. side must handle the issue of arms sales to Taiwan with caution.
习近平强调，台湾问题是中美关系中最重要的问题。台湾是中国的领土，中方必须捍卫国家主权和领土完整，永远不可能让台湾分裂出去。美方务必慎重处理对台军售问题。
Trump stated that both the United States and China are great nations, and the U.S.-China relationship is the most important bilateral relationship in the world. I have a great relationship with President Xi Jinping, and I respect him very much. Under the leadership of President Xi and myself, the U.S. and China have had good interactions in economic, trade, and other fields. I am happy to see China succeed, and the U.S. is willing to strengthen cooperation with China to promote new developments in bilateral relations. I value China’s concerns regarding the Taiwan question and am willing to maintain communication with the Chinese side to keep U.S.-China relations good and stable during my term.
特朗普表示，美国和中国都是伟大的国家，美中关系是世界上最重要的双边关系。我同习近平主席有着伟大的关系，我很尊重习近平主席。在我和习近平主席引领下，美中在经贸等领域进行了良好互动。我乐见中国成功，美方愿与中方加强合作，推动两国关系取得新发展。我重视中方在台湾问题上的关切，愿同中方保持沟通，在我任内保持美中关系良好稳定。
The US readout via Trump’s Truth Social:
I have just completed an excellent telephone conversation with President Xi, of China. It was a long and thorough call, where many important subjects were discussed, including Trade, Military, the April trip that I will be making to China (which I very much look forward to!), Taiwan, the War between Russia/Ukraine, the current situation with Iran, the purchase of Oil and Gas by China from the United States, the consideration by China of the purchase of additional Agricultural products including lifting the Soybean count to 20 Million Tons for the current season (They have committed to 25 Million Tons for next season!), Airplane engine deliveries, and numerous other subjects, all very positive! The relationship with China, and my personal relationship with President Xi, is an extremely good one, and we both realize how important it is to keep it that way. I believe that there will be many positive results achieved over the next three years of my Presidency having to do with President Xi, and the People’s Republic of China! PRESIDENT DONALD J. TRUMP
Responsible major-country diplomacy conducive to world peace and stability: China Daily editorial
Within the span of several hours, Xi held a virtual meeting with Russian President Vladimir Putin and a telephone call with US President Donald Trump. These exchanges reflect China’s commitment to advancing major-country relations for the common good of the world. It is a diplomatic approach anchored in dialogue, guided by responsibility and aimed at safeguarding the postwar international order at a time when crises in various regions have been straining it.
Over the past year, Xi and Trump have had sound communication, including their successful face-to-face meeting in Busan, the Republic of Korea, and have charted the direction and course for China-US relations. Under the guidance of their head-of-state diplomacy, the two countries should continue to uphold equality, respect and mutual benefit, properly manage their differences and expand practical cooperation.
3. US convenes “Critical Minerals Ministerial”
Opening Remarks of the Critical Minerals Ministerial - United States Department of State
Vance: We see telltale signs of a market distorted beyond recognition, one that punishes strategic investment, one that punishes diversification, and one that punishes long-term planning. This is crazy. We should have the kind of global markets, the kind of domestic markets, that reward long-term planning, that reward strategic thinking, and that’s exactly what we’re trying to do.
Now, I think every single one of us represented in this room has become dependent on arrangements we did not choose, and right now, arrangements that we cannot control. We all face the same vulnerability: access to the things that protect our people and sustain our way of life – everything from missile defense systems, to energy infrastructure, to advanced manufacturing, to emerging technologies – the fundamental supply chains that support these industries sometimes can vanish in the blink of an eye without any control or influence from many of the countries in this room...
Rubio: It’s – I think it’s interesting that about 50 years ago, actually in this very room, ministers from around the world joined then-Secretary of State Henry Kissinger for the Washington Energy Conference. That meeting took place during a moment where global energy supplies were concentrated, where markets were distorted, and access to a single critical resource – at that time, of course, being oil – had become a tool of political pressure. That is the world 50 years ago. That meeting led directly to the creation of the International Energy Agency to coordinate among like-minded partners and secure access to energy commodities.
And so today, we return 50 years later in the hopes of advancing a bilateral critical minerals framework agreement to the same end on that front. These frameworks are designed to create alternative sources of supply and to protect every single stage of production – from mining to refining and processing to manufacturing, all of these things – protecting them from non-market disruption. They will provide platforms for coordinating policies that ensure all of our citizens can enjoy abundant and affordable access to these critical minerals.
Today, Ambassador Jamieson Greer announced that the United States, the European Commission, and Japan intend to develop Action Plans for critical minerals supply chain resilience. Under these Action Plans, the United States, the European Commission, and Japan will develop coordinated trade policies and mechanisms, such as border-adjusted price floors, that can mitigate critical mineral supply chain vulnerabilities.
“Today’s announcement is an important signal that the world’s largest market-oriented economies are committed to developing a new paradigm for preferential trade in critical minerals,” said Ambassador Greer. “Through the development of these Action Plans, we will lay the groundwork for a binding plurilateral agreement on trade in critical minerals with like-minded partners. I look forward to close engagement with EU Trade Commissioner Maroš Šefčovič and Japanese counterparts to standing up these Action Plans quickly.”
U.S. Enlists Mexico, EU and Japan in Its Minerals Race With China - WSJ
Under the agreements, the U.S., Japan and the EU will conclude a memorandum of understanding within 30 days on how they can jointly support projects in mining, refining, processing and recycling, the governments said in a joint statement. The U.S. and Mexico will implement a similar action plan over the next 60 days, the U.S. Trade Representative’s office said in a separate statement.
Secretary of State Marco Rubio at a Press Availability - United States Department of State
this Critical Minerals Ministerial is off to a great start.
We have 55 partners that we’re hoping to enter into collaboration with; many have already signed on. And the goal here is very simple. We all understand that having a reliable global supply chains in critical minerals and processed and finished materials are critical to everything we do, as I pointed out in my opening statement to the group. And I think this is a broader mistake made by the industrialized and developed world, is we all sort of fell in love with the design of these things, but forgot that in order to design something you have to be able to build it, and in order to build it you have to have the fundamental materials necessary to make it with. That’s the key goal of critical minerals supply, and today it’s heavily concentrated in the hands of one country. And that lends itself to, at worst-case scenario, being used as a tool of leverage in geopolitics, but it also lends itself to any sort of disruptions, like a pandemic or anything that could – political instability or anything that could happen. And so, it’s key and important, and I think there’s a growing global recognition that we need to have supply chains for critical minerals that are reliable and diverse across the world...
Let me just say I want to thank the Republic of Korea, because they’ve been – they’ve been – for their leadership on the previous entity that was filling this gap, which was MSP. But we’re moving forward on this thing called FORGE. And the purpose of FORGE is to foster collaboration and to build a network of partners across the world, many of whom were in that room today.
This afternoon there’ll be additional sessions, led by Trade Representative Greer, who’s going to present on a price forward mechanism, and that’s designed to make sure that these commodities will never fall below a certain price so that they can become economically viable. The idea is to protect people’s investments, investments in these sectors across the world. They’ll hear from Secretary of Energy Wright. They’ll hear from the Development Finance Corporation, they’ll hear from the EXIM Bank, they’ll hear from the Department of War. They’re going to showcase financing tools and programs for critical minerals investment. And then Treasury Secretary Bessent is going to close out later tonight the ministerial later this afternoon.
We’re planning to sign new critical minerals frameworks with several partners later today. And I want to just highlight again this is really a historic gathering and highlights the billions of dollars the United States Government has already committed towards this endeavor. And that’s going to enable private sector investment to – towards creating reliable supply chains that are vital, as I said, to technological innovation, economic strength, and also national security.
US proposes critical minerals trade bloc aimed at countering China | Reuters
U.S. Vice President JD Vance on Wednesday unveiled plans to marshal allies into a preferential trade bloc for critical minerals, proposing coordinated price floors as Washington escalates efforts to loosen China’s grip on materials crucial to advanced manufacturing.
The Washington meeting comes after President Donald Trump on Monday launched a strategic stockpile of critical minerals, called Project Vault, backed by $10 billion in seed funding from the U.S. Export-Import Bank and $2 billion in private funding.
The European Union is pushing ahead with plans to stockpile critical materials, with Italy, France and Germany set to take leading roles as the bloc moves to cut reliance on China, four sources with knowledge of the matter said.
The EU unveiled a plan in December to reduce its dependence on China for key raw materials, including a joint stockpile and export restrictions on reusable metal scrap and rare earth waste. The European Commission has yet to provide details.
Bloomberg: In Washington, D.C. today, dozens of foreign ministers are set to convene and the EU is going to pitch a broad partnership plan with the U.S. to try to reduce their dependency on China for critical minerals. Does the Foreign Ministry have any comment on the Washington meeting in general or the EU’s proposal to the U.S.?
Lin Jian: On maintaining the stability and security of global critical mineral industrial and supply chains, China’s position remains unchanged. All sides have the responsibility to play a constructive role in this regard. On the proposal between the EU and the U.S., let me stress that China maintains that countries need to follow the principles of market economy and international economic and trade rules, step up communication and dialogue, jointly keep the industrial and supply chains stable and unimpeded, and advance the steady growth of world economy.
Lin Jian, spokesperson of the Chinese Foreign Ministry, made the remarks at a regular press conference on Wednesday in response to a question saying that dozens of foreign ministers are set to convene on Wednesday and the EU is going to pitch a broad partnership plan with the US to try to reduce their dependency on China for critical minerals.
On the proposal between the EU and the US, Lin said China maintains that countries need to follow the principles of market economy and international economic and trade rules, step up communication and dialogue, jointly keep the industrial and supply chains stable and unimpeded, and advance the steady growth of world economy...
“Whether in terms of supply stability, technological coordination or industrial chain security, pragmatic engagement with China remains an inescapable reality for the international community in the field of critical minerals,” Wang Guoqing, research director with the Beijing-based Lange Steel Information Research Center, told the Global Times on Wednesday.
From the perspective of technological development, market dynamics and practical feasibility across the global rare-earths supply chain, a rational and viable option for Western economies is to deepen cooperation with China, rather than exclude it through politicized groupings and attempt to rebuild supply chains from scratch, Wang noted.
4. H200 chip sales to China in limbo
Nvidia AI chip sales to China stalled by US security review - Financial Times
When Trump agreed to allow Nvidia to export H200 chips to China, he told his administration to conduct a national security review to ensure that appropriate conditions were attached to export licences.
In January, the commerce department issued a regulation that loosened restrictions on the export of the H200 to China but required the US departments of state, defence and energy to review any licences.
The commerce department has completed its analysis, according to one person familiar with the situation. But several people with knowledge of the inter-agency discussions said the state department was pushing for tougher restrictions to make it harder for China to use the H200 chips in ways that would undermine US national security.
One person said the state department’s stance was frustrating Nvidia. “State is making it very difficult,” said the person.
5. Explaining Document No. 1
巩固提升“三农”发展好势头 推动乡村全面振兴取得新进展——中央农办有关负责同志解读中央一号文件精神-新华网
Consolidating and Enhancing the Good Momentum of Development in Agriculture, Rural Areas, and Farmers, and Promoting New Progress in Comprehensive Rural Revitalization — Responsible Comrades of the Central Office of Rural Work Interpret the Spirit of the No. 1 Central Document
Full translation here
Excerpt:
After winning the battle against poverty, and following a five-year transition period, the achievements of poverty alleviation have become more substantial. Han Wenxiu said that the Party Central Committee has clearly defined the overall requirements for normalized assistance in the future, the document has made specific arrangements, and various supporting policies are also being formulated and issued intensively. The focus should be on grasping four aspects:打赢脱贫攻坚战后，经过5年过渡期，脱贫攻坚成果成色更足。韩文秀说，党中央已经明确了今后常态化帮扶的总体要求，文件作出了具体安排，各项配套政策也在抓紧制定出台。重点要把握好四个方面：
First, implement dynamic management on assistance targets. Reasonably determine the standards for identifying targets to prevent returning to poverty or falling into poverty, solidly carry out normalized monitoring at the village and township levels, and improve the mechanism for precise identification and rapid response. After the risk is eliminated, dynamic withdrawal is implemented, and identity labels are not solidified.
一是在帮扶对象上实行动态管理。要合理确定防止返贫致贫对象认定的标准，扎实做好乡村两级常态化监测，健全精准识别和快速响应机制。风险消除之后，实行动态退出，不固化身份标签。
Second, highlight precision and efficiency in assistance methods. Strengthen development-oriented assistance, exert the role of social assistance in providing basic guarantees, promote the collaborative integration of assistance policies, and strive to enhance endogenous dynamics.
二是在帮扶方式上要突出精准高效。强化开发式帮扶，发挥社会救助兜底保障作用，推动帮扶政策协同集成，着力增强内生动力。
Third, focus on stratification and classification in assistance areas. Take key counties for rural revitalization as assistance units in underdeveloped areas, identify 160 national key counties for rural revitalization and a batch of provincial key counties for rural revitalization, and continue to give concentrated support in terms of finance, banking, land, and talent.
三是在帮扶区域上注重分层分类。把乡村振兴重点帮扶县作为欠发达地区的帮扶单元，分别确定160个国家乡村振兴重点帮扶县和一批省级乡村振兴重点帮扶县，继续从财政、金融、土地、人才等方面给予集中支持。
Fourth, maintain overall stability in assistance policies. In terms of financial investment, financial support, and allocation of resource elements, maintain the scale of normalized assistance funds from the central finance and the stability of the scale of investment funds at the provincial and municipal levels.
四是在帮扶政策上要保持总体稳定。在财政投入、金融支持、资源要素配置等方面，保持中央财政常态化帮扶资金规模以及省市两级投入资金规模稳定。
Economic Watch: How China is propelling agricultural modernization, rural revitalization-Xinhua
With the release of the 2026 “No. 1 central document,” the first policy statement issued by China’s central authorities each year, the country is set to advance agricultural and rural modernization while promoting comprehensive rural revitalization.
To achieve this goal, efforts should focus on safeguarding national food security, consolidating and expanding the achievements of poverty alleviation, and enhancing rural development across industries, infrastructure and governance, said Han Wenxiu, executive deputy director of the Office of the Central Committee for Financial and Economic Affairs.
Han, also head of the Office of the Central Rural Work Leading Group, made the remarks at a press conference on Wednesday.
China’s grain production reached about 714.9 million tonnes in 2025, and the per capita grain supply was over 100 kilograms higher than the internationally recognized security line.
While the country enjoys sufficient supply, stable markets and ample reserves of grain and other major agricultural products, total grain demand will continue to grow in the coming period, said Han, adding that the focus on food security must never be relaxed.
锚定农业现代化 擘画科技创新与产业升级新蓝图——中央农办负责人解读中央一号文件
“This year’s No. 1 Central Document focuses on securing the bottom line of national food security, emphasizing the need to grasp yield and capacity, production and ecology, and increasing production and income together.” On February 4th, at a press conference held by the State Council Information Office, Han Wenxiu, Deputy Director of the Office of the Central Financial and Economic Affairs Commission in charge of daily work and Director of the Office of the Central Rural Work Leading Group, stated that it is necessary to seek production capacity from science and technology, intensify the implementation of a new round of grain production capacity improvement actions, and consolidate the foundation of grain production in all aspects.
科技日报记者马爱平张佳星 “今年的中央一号文件，着眼于守牢国家粮食安全底线，强调要坚持产量产能、生产生态、增产增收三个一起抓。”2月4日，在国务院新闻办举行的新闻发布会上，中央财办分管日常工作的副主任、中央农办主任韩文秀表示，要向科技要产能，加力实施新一轮粮食产能提升行动，全方位夯实粮食生产的根基。
The 14th No. 1 Central Document guiding the work on “agriculture, rural areas, and farmers” since the 18th National Congress of the Communist Party of China was authorized to be released by Xinhua News Agency on the 3rd. Centering on agricultural scientific and technological innovation and developing new quality productive forces in agriculture, this year’s No. 1 Central Document made deployments from three aspects: strengthening integrated innovation, expanding application scenarios, and promoting the transformation of achievements.
党的十八大以来第14个指导“三农”工作的中央一号文件3日由新华社受权发布。围绕农业科技创新、发展农业新质生产力，今年中央一号文件从强化集成创新、拓展应用场景和促进成果转化等三方面进行了部署。
The document emphasizes improving the efficiency of agricultural scientific and technological innovation. Zhu Weidong, Deputy Director of the Office of the Central Financial and Economic Affairs Commission and Deputy Director of the Office of the Central Rural Work Leading Group, stated that in terms of innovation mechanisms, it emphasizes coordinating the construction of scientific and technological innovation platform bases, deepening the reform of agricultural research institutes, integrating advantageous scientific research resources at all levels and of various types, and solving problems such as fragmented efforts and low-level duplication. In terms of innovation subjects, it emphasizes the principal position of enterprises, cultivating and strengthening leading scientific and technological enterprises in the agricultural field, promoting the gathering of innovation resources toward enterprises, and advancing the integration of industry, academia, and research. In terms of innovation fields, it emphasizes focusing on tackling key problems in key areas such as seeds and agricultural machinery, accelerating the breeding and promotion of breakthrough varieties, and speeding up the making up of shortcomings in high-end intelligent agricultural machinery and equipment suitable for hilly and mountainous areas.
文件强调，提升农业科技创新效能。中央财办副主任、中央农办副主任祝卫东表示，在创新机制上，强调统筹科技创新平台基地建设，深化农业科研院所改革，整合各级各类优势科研资源，解决各自为战、低水平重复等问题。在创新主体上，强调企业主体地位，培育壮大农业领域科技领军企业，促进创新资源向企业集聚，推进产学研融合。在创新领域上，强调聚焦种子、农机等关键领域攻关，加快选育和推广突破性品种，加快补上高端智能、丘陵山区适用农机装备短板。
This year’s “Opinions” once again emphasizes “developing new quality productive forces in agriculture according to local conditions,” clarifying the need to promote the combination of artificial intelligence and agricultural development, expand application scenarios such as drones, the Internet of Things, and robots, and accelerate innovation in key technologies for agricultural bio-manufacturing.
今年《意见》再次强调要“因地制宜发展农业新质生产力”，明确要促进人工智能与农业发展相结合，拓展无人机、物联网、机器人等应用场景，加快农业生物制造关键技术创新。
Zhu Weidong pointed out that developing new quality productive forces in agriculture requires strengthening integrated innovation, expanding application scenarios, and promoting the transformation of achievements.
祝卫东指出，发展农业新质生产力要强化集成创新、拓展应用场景、促进成果转化。
“With the innovative application of modern information technology and biotechnology, developing new quality productive forces in agriculture shows broad prospects.” Zhu Weidong cited an example, pointing out that China has become the country with the largest number of agricultural drones. There are about 500,000 agricultural drones globally, and China has more than 300,000. Current drones are like the sickles and hoes of the past, becoming essential “new agricultural tools” for some farmers. Application scenarios are constantly enriching and expanding, from plant protection operations, sowing and fertilizing, and farmland monitoring to the transportation of agricultural supplies and agricultural products.
“随着现代信息技术、生物技术等创新应用，发展农业新质生产力展现出广阔前景。”祝卫东举例指出，我国已成为农用无人机保有量第一大国，全球约有50万台农用无人机，我国就超过了30万台。现在的无人机，就像过去的镰刀、锄头一样，成为一些农民必不可少的“新农具”，从植保作业、播种施肥、农田监测到农用物资和农产品运输，应用场景不断丰富拓展。
Zhu Weidong stated that we must seize the opportunity of this round of scientific and technological revolution, promote the combination of artificial intelligence and agricultural development, expand application scenarios such as drones, the Internet of Things, and robots, and let more new quality productive forces become the “new engines” for the development of modern agriculture.
祝卫东表示，要抓住这一轮科技革命机遇，促进人工智能与农业发展相结合，拓展无人机、物联网、机器人等应用场景，让更多新质生产力成为现代农业发展的“新引擎”。
In the view of analysts, the biggest characteristic of this year’s No. 1 Central Document is the clarification of the three major goals of agricultural and rural modernization: striving to build agriculture into a modern major industry, making rural areas basically possess modern living conditions, and making farmers’ lives more prosperous and beautiful.
在分析人士看来，今年中央一号文件最大的特点是明确了农业农村现代化的三大目标：努力把农业建成现代化大产业、使农村基本具备现代生活条件、让农民生活更加富裕美好。
Zhang Di, chief macro analyst at China Galaxy Securities, told Jiemian News that the theme of last year’s No. 1 Document was “reform,” while the theme of this year’s No. 1 Document is “modernization.” Chinese modernization is modernization of a huge population and modernization of common prosperity for all people. The characteristics of Chinese modernization are closely related to agriculture and rural areas; accelerating agricultural and rural modernization is the foundation and important content of comprehensively promoting Chinese modernization.
中国银河证券首席宏观分析师张迪对界面新闻表示，去年一号文件的主题是“改革”，而今年一号文件的主题是“现代化”。中国式现代化是人口规模巨大的现代化、全体人民共同富裕的现代化，中国式现代化的特征与农业农村息息相关，加快农业农村现代化是全面推进中国式现代化的基础和重要内容。
Song Xiangqing, vice president of the China Society of Commercial Economy, told Jiemian News that the 2025 document was a “link between the past and future,” ensuring a successful conclusion to the battle against poverty and putting a period on the five-year plan. The 2026 document is “facing the future,” using “agricultural and rural modernization” to command the overall situation, setting the tone for the new five-year plan and even longer-term development, with a broader vision and more ambitious goals.
中国商业经济学会副会长宋向清对界面新闻表示，2025年文件是“承前启后”，确保脱贫攻坚圆满收官，为五年规划画上句号。2026年文件则是“面向未来”，以“农业农村现代化”统领全局，为新的五年规划乃至更长远的发展定调，视野更宏阔，目标更远大。
Reading China’s 2026 No.1 Document - by Fred Gao
In terms of specific provisions, the 2025 document contained six major sections with thirty articles, while the 2026 version is streamlined to six sections with twenty-seven articles.
Food security has been notably elevated. The 2026 document places “Enhancing Agricultural Comprehensive Production Capacity and Quality Benefits” as the first chapter, and for the first time explicitly writes a specific numerical target into the main text: “stabilize grain output at around 1.4 trillion jin.”(700 million tons)
Additionally, farmer income growth now stands as an independent chapter. The 2026 document creates a new dedicated chapter on “Actively Promoting Stable Farmer Income Growth” (积极促进农民稳定增收), systematically integrating content that was previously scattered across different sections of the 2025 document. This structural adjustment signals that farmer income has been elevated to a more prominent policy priority.
China signals strong demand for soybean imports in 2026 rural blueprint | South China Morning Post
China will “deeply participate” in agricultural trade and expand imports of products in short domestic supply, a senior official said on Wednesday, signalling strong and sustained demand for overseas soybeans – a long-standing food security concern and a flashpoint in its ties with the United States.
Despite a tight balance between production and demand, China would diversify import sources and make full use of international markets, said Han Wenxiu, head of the office of the Communist Party’s rural affairs leading group.
6. Coal power capacity expanding
In 2025, China’s new and reactivated coal power project proposals surged to a record high, while capacity additions that came online reached the highest annual level in a decade, even as clean energy put China’s CO2 emissions into reverse for the first time and drove down coal power generation.
The Centre for Research on Energy and Clean Air and Global Energy Monitor‘s H2 2025 coal power review reveals that new and reactivated coal power project proposals in China surged to 161 gigawatts (GW) in 2025, a record high.
2025 also saw China commission 78 GW of new coal power capacity, which is more than India’s net coal power additions over a ten-year period from 2015 to 2024, even though India operates the world’s second-largest coal power fleet.
Report says new coal plant construction surged in China in 2025 | AP News
More than 50 large coal units — individual boiler and turbine sets with generating capacity of 1 gigawatt or more — were commissioned in 2025, up from fewer than 20 a year over the previous decade, a research report released Tuesday said. Depending on energy use, 1 gigawatt can power from several hundred thousand to more than 2 million homes.
Overall, China brought 78 gigawatts of new coal power capacity online, a sharp uptick from previous years, according to the joint report by the Centre for Research on Energy and Clean Air, which studies air pollution and its impacts, and Global Energy Monitor, which develops databases tracking energy trends.
GT Voice: Western coal narratives ignore China’s energy transition effect - Global Times
At a time when some Western countries are grappling with power shortages driven by soaring electricity demand from artificial intelligence (AI) infrastructure development, certain Western media outlets have turned their attention to China’s coal-fired power plants. Citing a research report released on Tuesday, some claimed that China opened many more coal power plants last year than in previous years, raising concerns over whether the country will “reduce carbon emissions enough to limit climate change.”
However, the narrative that equates coal power expansion with a slowdown in green energy adoption not only overlooks the realities of China’s current energy development, but also reflects Western ignorance of China’s pragmatic approach in pursuing energy security along with its dual-carbon goals.
Many may wonder why China continues to expand its coal power capacity even as wind and solar generation grows rapidly. This approach actually reflects the pragmatism of China’s energy strategy. While new energy is undoubtedly the future direction, its intermittent and volatile nature remains a global challenge. In this context, the role of China’s new coal power plants is shifting from providing baseload power supply to serving as flexible support for the grid. As reported by China Energy News, citing industry insiders, the role of coal-fired power will shift from being the “main force” supplying electricity to serving as a “regulator” ensuring system stability in the next five years.
Business, Economy and Trade
China Posts First Fiscal Revenue Decline Since Pandemic
Data released by the Ministry of Finance showed general public budget (GPB) revenue fell 1.7% in 2025 from the previous year, marking the first contraction since 2020, when revenue slid during the initial pandemic shock. GPB is the largest of the four budgets in China’s fiscal system...
The setback was driven mainly by a sharp drop in nontax revenue, which fell at a double-digit pace. The finance ministry attributed the fall to a high comparison base in 2024, when one-off transfers from central government–affiliated entities boosted fiscal coffers.
Tax revenue rose slightly, supported by steady monthly collections through much of the year. Individual income tax grew notably faster than headline tax revenue, partly reflecting tighter enforcement, including stricter scrutiny of residents’ overseas income and more standardized tax reporting by online platforms.
Sources deny rumors of tax hike on China’s gaming industry - China Daily
China has no plans to increase tax on its gaming industry, multiple sources close to authorities and industry told China Daily on Wednesday.
They made the comments after a market rumor that the value-added tax rate for gaming would be raised to 32 percent in China, leading shares of several Chinese gaming and internet companies to tumble sharply on Tuesday.
“The gaming sector is treated under a neutral VAT scheme in China, and there is no policy shift toward tax hikes, nor is one under discussion,” said a tax official who asked to remain anonymous.
China Services Gauge Expands at Faster Rate Despite Frail Demand - Bloomberg China’s services activity picked up after growing at a slower rate for four straight months, a private survey showed, suggesting that pockets of the economy are seeing renewed momentum despite a rocky start to the year. The RatingDog China services purchasing managers’ index rose to 52.3 in January from 52 in the prior month, according to a statement published Wednesday. The median forecast of economists surveyed by Bloomberg was for no change from December
Chinese trading firm Zhongcai nets $500mn from silver rout - Financial Times Zhongcai has booked profits of more than Rmb3.6bn ($519mn) since Friday morning after building up short positions in silver in late January, according to FT calculations based on disclosures to the Shanghai Futures Exchange.
突发讣告！百亿私募创始合伙人去世 年仅40岁 _ 东方财富网 On February 2, the well-known quantitative private equity firm Qilin Investment released an obituary stating that Mr. Shen Xianbing, the founding partner of the company, passed away at 10:36 on February 2, 2026, at the age of 40
Chinese Gold Retailer Curbs Buybacks as Prices Fluctuate Sharply - Caixin The Caishikou Department Store in Beijing, better known as Caibai, announced on Monday evening that it is tightening repurchase rules as global gold prices retreat from historic highs, revealing the operational risks jewelers face during periods of frantic selling. The state-backed retailer said that, starting Feb. 6, it will suspend gold buyback services on weekends and public holidays, when the Shanghai Gold Exchange is closed. Additionally, Caibai will introduce dynamic limits on the amount of gold it accepts in a single transaction or day during operating hours. The company cited intensified price fluctuations and rising uncertainty as the main factors behind the policy change, urging consumers to remain rational and improve their risk awareness.
多地开展多形式二手房收购工作-证券日报网 In recent weeks, a number of Chinese cities and provinces have started work to purchase second-hand homes. On February 2, Shanghai started to buy second-hand homes in Pudong, Jinan, Xuhui, part of a pilot program to turn these homes into affordable housing. The housing watchdog in Fujian, in an opinion released on February 2, urged “all kinds of entities” to purchase second-hand homes and other properties that have entered the judicial procedure for missing mortgages.
多地优化购房政策，能否释放住房消费潜力--健康·生活--人民网 In recent weeks, a growing number of Chinese cities have further relaxed home purchasing restrictions, from Hukou requirements to lending policies and easier transaction rules, in a broader push to stimulate the housing market. In Beijing, families with multiple children will get more support when they buy homes, and non-Hukou residents with multiple children can now purchase up to two homes within the five ring road. For its part, Shanghai no longer restricts the number of home purchases in certain areas of the city. Analysts say there is still further room to relax restrictions, such as expanding the scope of use for housing provident funds.
重点城市二手房市场淡季回暖 房产中介称“今年的情况有些不同” Second-home markets across many major Chinese cities are heating up, partly driven by government policy support. In Shenzhen, sales of second-hand homes in January were up 2.4% from a month before. Meanwhile, sales of second-hand-homes in Beijing and Shanghai both jumped by more than 20% year on year in January. January is traditionally a slower month for property sales, as it falls close to the Chinese Lunar New Year.
Caixin - Shanghai Pilots State Home Purchases in Three Districts to Halt Market Slide Announced on Monday, the initiative targets the central districts of Jing’an and Xuhui, along with the Pudong New Area. District-level state-owned housing companies will lead the purchases, with the Shanghai branch of China Construction Bank signing agreements to provide financial support. The program focuses on properties from owners who plan to use the proceeds to buy newly built homes within the same district, creating a “trade-in” mechanism. This move is part of an ongoing effort by major Chinese cities to address the central government’s “de-stocking” directive, which seeks to absorb excess real estate inventory while boosting new home sales. As the property sector’s liquidity crisis, which began in late 2021, continues, policymakers are turning to measures to unfreeze the secondary market and drive demand for new housing.
Caixin - Chinese Developers Forecast Over 240 Billion Yuan in 2025 Losses According to earnings forecasts from 74 A-share property management and development companies as of Feb. 3, the losses are highly concentrated. The top 10 loss-making firms are projected to account for about 194 billion yuan, or over 80%, of the total deficit, Wind data show. Leading the pack is industry giant Vanke Co. Ltd., which anticipates a net loss of around 82 billion yuan for 2025. This would not only be a record for an A-share property developer but also marks a sharp deterioration from its 49.5 billion yuan loss in 2024, its first since going public. Vanke’s financial turmoil escalated after a debt crisis erupted in November 2025.
楼市“交付难”基本解决，房地产最重的担子已卸下 Yicai
The issue of “difficulties in delivery” in the real estate market, which once triggered market panic, is gradually becoming history.
一度引发市场恐慌的房地产“交付难”问题，正逐渐成为历史。
Recently, multiple real estate enterprises disclosed their 2025 data on guaranteeing housing delivery and stated that the work of guaranteeing housing delivery is nearing its end. By the end of the “14th Five-Year Plan,” a cumulative total of approximately 7.5 million units of “sold but difficult to deliver” housing across the country have been completed and delivered. Among them, Country Garden has cumulatively delivered about 1.85 million units, and multiple real estate enterprises such as Greenland, Sunac, Zhongnan Land, Seazen, and CIFI have achieved deliveries on the scale of hundreds of thousands of units. The problem of “difficulties in delivery” in the real estate market nationwide has been effectively alleviated.
近日，多家房企披露其2025年保交房数据，并称保交房工作接近尾声。截至“十四五”末，全国累计实现约750万套“已售难交付”住房落地交付。其中，碧桂园累计交付约185万套，绿地、融创、中南置地、新城、旭辉等多家房企实现数十万套规模的交付，全国范围内房地产“交付难”问题已得到有效缓解。
Yicai - Xizang [Tibet], Hainan Provinces Set China’s Highest Growth Targets for 2026 Xizang’s economy will likely expand over 7 percent this year, according to its government’s work report. Its GDP rose 7 percent to CNY303.2 billion (USD43.7 billion) last year from 2024, ranking first by growth rate in the country for the third straight year... Hainan, renowned for its tourism industry, set its 2026 GDP growth target at around 6 percent. Although its economy expanded only 4 percent to CNY810.9 billion last year, less than the national average rate of 5 percent, it started an island-wide independent customs operations under the Hainan Free Trade Port on Dec. 18, bringing more development opportunities.
Yicai - China’s Central Bank Boosts Liquidity Support Ahead of Lunar New Year Holiday China’s central bank has stepped up liquidity support using a mix of tools, including a larger three-month outright reverse repurchase operation, to meet the surge in household cash withdrawals before the start of what will be the country’s longest-ever Lunar New Year holiday. The People’s Bank of China will conduct a CNY800 billion (USD115.3 billion) three-month outright reverse repo operation today, it said yesterday. As CNY700 billion of three-month outright reverse repos will mature this month, the operation will result in a net injection of CNY100 billion.
China outbound investment in 2025 hit highest level since 2018: report - Nikkei Asia New foreign direct investment hit $124 billion, according to the China Cross-Border Monitor run by independent research provider Rhodium Group. The figure marked the highest FDI level since 2018, although it remained well below the 2016 peak. The report, released on Wednesday by the New York-based group, found that energy -- including fossil fuels and renewables -- and commodities accounted for nearly half of last year’s announced Chinese outbound investments. By contrast, the automotive sector’s share fell to its lowest level since 2020, as electric vehicle manufacturing and upstream supply chains slowed.
The spokesperson said that the EU’s relevant investigations had excessively broadened the concept of “foreign subsidies” and suffered from multiple problems, including insufficient evidence for case initiation and a lack of procedural transparency, noting that they are typical examples of practicing protectionism under the pretext of “fair competition.”
In January 2025, the MOFCOM determined in accordance with the law that the EU’s relevant practices constituted trade and investment barriers, following an investigation. “Rather than correcting its actions, the EU has instead gone further down the wrong path,” the spokesperson noted.
The spokesperson stressed that Chinese green industries, including wind power, rely on continuous technological innovation, a well-developed industrial system, and full market competition to provide high-quality green products for the global response to climate change, making positive contributions. The EU’s abuse of investigative measures not only seriously disrupts mutually beneficial industrial cooperation between China and the EU and undermines the confidence of Chinese enterprises in investing in Europe, but will also slow the pace of the green transition in Europe itself and globally, said the spokesperson.
Caixin - Sun Art Retail CEO Vanishes After Two Months on the Job Sun Art Retail Group Ltd. said it has not been able to get in touch with its CEO Li Weiping, who took the helm two months ago, adding to the uncertainty surrounding the struggling supermarket chain. The Hong Kong-listed owner of RT-Mart said in a filing Wednesday that Li’s unavailability is unrelated to its business or operations, which remain normal. Chairman Julian Juul Wolhardt, who is also a co-founder of DCP Capital, will temporarily oversee its daily management, the company said.
China’s top car exporter Chery launches Lepas brand in UK | Reuters Unlike the European Union, Britain has not imposed any tariffs on Chinese-made EVs. Currently 10 Chinese brands sell cars in the UK, with several more due to launch this year.
Caixin - Mercedes Cuts China Sticker Prices to Ease Dealer Losses Mercedes-Benz Group AG has slashed suggested retail prices for select models in China by about 10%, bowing to pressure from retailers struggling with widespread losses and mounting inventory in the world’s most competitive auto market. The adjustment, effective Feb. 1, was confirmed by the auto dealers chamber of the All-China Federation of Industry and Commerce in a Monday statement.
Exclusive: Ford and Geely in talks for manufacturing, technology partnership, sources say | Reuters The companies are in talks to have Geely use Ford factory space in Europe to produce vehicles for the region, three people familiar with the matter said. They also have discussed the potential framework for shared vehicle technologies, including for automated driving, according to two different people with knowledge of the talks.
Renault to use Chinese parts for EV engine to be assembled in France | Reuters Renault will build in France a new small electric vehicle engine using parts supplied by China’s Shanghai e-drive, a spokesperson for the carmaker said on Tuesday, as it looks to reduce costs and protect margins in a sluggish European market. Renault already imports from China small electric engines made by Shanghai e-drive for its new Twingo, a car it developed in less than two years thanks to input from the Chinese supplier and engineers.
Caixin In Depth: European Automakers Look to China as EV Gap Widens
French carmaker Renault SA in March 2024 established a research center in China for developing electric cars for global markets. The center spent 21 months on its first model, with plans to develop two more over the next 16 months.
Such cooperation has yielded results. In December, German auto-part giant Robert Bosch GmbH won a contract for its assisted driving solutions to be used in vehicles made by Japan’s Toyota Motor Corp. for markets including the EU, North America and the U.K. in 2028. A source familiar with the matter told Caixin that the deal could not be reached without the support from Bosch’s China team, which has played a large role in developing the German firm’s smart driving technology.
Experts from industry association China EV100 expect Europe-China cooperation to extend to jointly building factories, which will be instrumental in the formation of a mature EV supply chain in the EU, where the auto industry is a vital engine for economic growth, supporting over 13 million jobs.
Italy watchdog blocks BYD advert after Stellantis complaint | Reuters The decision, reached on Tuesday and publicised on Wednesday, relates to BYD’s offer of generous bonuses to owners of cars with specific types of engine timing belts used on several Stellantis models, including its Peugeot and Citroen brands.
Caixin - China’s Overseas Graduates Return in Record Numbers as Job Market Shifts While traditional sectors such as education, consulting and the internet remain the primary destinations for these returnees, there is a marked shift toward emerging industries. Interest in specialized equipment manufacturing, pharmaceutical manufacturing, new materials, optoelectronics and robotics has surged, with demand for overseas talent in these fields outpacing other sectors, surveys showed.
Politics and Law
人事观察｜武警上海总队司令员陈源少将履新北京卫戍区_政经频道_财新网 Caixin - Major General Chen Yuan, previously the Commander of the Armed Police Shanghai Corps, has been appointed as a leader of the Beijing Garrison Command. He appeared in this new capacity at the 9th Plenary (Enlarged) Session of the 10th Party Committee of the Beijing Garrison Command on January 14, 2026
The Standing Committee of the National People’s Congress on Wednesday said it had expelled Liu Cangli, former president of the China Academy of Engineering Physics, Luo Qi, chief engineer of the China National Nuclear Corporation, and Zhou Xinmin, former chairman of the Aviation Industry Corporation of China.
It did not say why they had been expelled. There has been no official statement indicating that any of the three were under investigation but they have missed several key meetings or were removed from their jobs...
Liu, 64, was director of the China Academy of Engineering Physics (CAEP) – a nuclear weapons research and production unit – for nine years from 2015. Prior to that he had worked at the institution for many years...
Zhou, 56, became chairman of the Aviation Industry Corporation of China in 2024. AVIC is involved in the research and manufacture of military equipment, especially fighter jets and drones...
The third dismissed official, Luo, 58, had served as chief engineer of the China National Nuclear Corporation since 2022. Most of his career has been related to nuclear power propulsion research.
The NPC announcement - 受权发布丨全国人民代表大会常务委员会公告〔十四届〕第十五号-新华网 上海市人大常委会决定罢免周新民的第十四届全国人民代表大会代表职务。山东省人大常委会决定罢免罗琦的第十四届全国人民代表大会代表职务。四川省人大常委会决定罢免刘仓理的第十四届全国人民代表大会代表职务。依照《中华人民共和国全国人民代表大会和地方各级人民代表大会代表法》的有关规定，周新民、罗琦、刘仓理的代表资格终止。依照《中华人民共和国全国人民代表大会和地方各级人民代表大会选举法》的有关规定，罗琦的第十四届全国人民代表大会常务委员会委员、全国人民代表大会教育科学文化卫生委员会委员职务相应撤销，刘仓理的第十四届全国人民代表大会常务委员会委员职务相应撤销。
王小洪在山西调研时强调 树立和践行正确政绩观 奋力谱写公安工作现代化山西篇章-新华网
Wang Xiaohong, Member of the Secretariat of the CPC Central Committee and Minister of Public Security, conducted a research tour in Shanxi from the 3rd to the 4th to inspect security and stability maintenance work for the Spring Festival on the ground, and to visit and extend regards to grassroots police officers, auxiliary police, and the families of martyrs. He emphasized the need to deeply implement the spirit of General Secretary Xi Jinping’s important instructions and the decisions and plans of the Party Central Committee, and to implement the spirit of the Central Conference on Political and Legal Work and the National Conference of Public Security Directors. He called for firmly upholding the “Two Establishes,” resolutely achieving the “Two Upholds,” establishing and practicing a correct view of performance, and meticulously carrying out work to prevent risks, ensure safety, protect stability, and promote development. He urged striving to write the Shanxi chapter of the modernization of public security work and contributing due strength to achieving a good start for the “15th Five-Year Plan.”
中共中央书记处书记、公安部部长王小洪3日至4日在山西调研，实地检查春节安保维稳工作，看望慰问基层公安民警、辅警和英烈家属。他强调，要深入贯彻习近平总书记重要指示精神和党中央决策部署，落实中央政法工作会议、全国公安厅局长会议精神，坚定拥护“两个确立”、坚决做到“两个维护”，树立和践行正确政绩观，精细做好防风险、保安全、护稳定、促发展各项工作，奋力谱写公安工作现代化山西篇章，为实现“十五五”良好开局贡献应有力量。
Wang Xiaohong visited Yangquan City, Jinzhong City, and Taiyuan City in succession, going deep into grassroots public security units and special schools for minors. He learned in detail about the progress of the normalized campaign against organized crime, the crackdown on and governance of telecom and online fraud, the prevention and governance of juvenile delinquency, as well as public security foundation work and team building. He also visited the Hundred Regiments Offensive Memorial Hall. He pointed out the need to continue deepening the political building of the police force to ensure that the Party Central Committee’s major decisions and plans are implemented to the letter. It is necessary to coordinate and advance the struggle against infiltration, subversion, terrorism, separatism, and cults, building a firmer line of defense for political security. He called for strengthening the overall prevention and control of social security, optimizing public safety governance models, forcefully cracking down on and rectifying prominent illegal crimes, and effectively maintaining overall social stability. It is necessary to combine reality to deeply advance the project to upgrade the new quality combat capabilities of public security organs. He also emphasized implementing the requirements for strict, standardized, fair, and civilized law enforcement, strengthening enforcement training, supervision, management, and the rectification of outstanding problems. It is necessary to grasp the construction of a tough team, strengthen the rectification of conduct, enforcement of discipline, and anti-corruption efforts, so as to better display the new image of Shanxi public security.
王小洪先后来到阳泉市、晋中市、太原市，深入公安基层单位和未成年人专门学校，详细了解推进常态化扫黑除恶、打击治理电信网络诈骗、预防治理未成年人违法犯罪和公安基础工作、队伍建设等情况，并参观百团大战纪念馆。他指出，要持续深化政治建警，确保党中央重大决策部署不折不扣落实到位。要统筹推进反渗透反颠覆反恐怖反分裂反邪教斗争，把政治安全防线筑得更牢。要强化社会治安整体防控，优化公共安全治理模式，强力打击整治突出违法犯罪，有力维护社会大局稳定。要结合实际，纵深推进公安机关新质战斗力提升工程。要落实好严格规范公正文明执法要求，强化执法培训、监督管理和突出问题整治。要抓实过硬队伍建设，强化正风肃纪反腐，更好展示山西公安新形象。
Local government of Hubei has formed a joint investigation team and dispatched it to Xiangyang and Yichang to conduct an in-depth probe into issues raised by media reports, including allegations that some psychiatric hospitals admitted patients in violation of regulations and were suspected of fraudulently obtaining medical insurance funds, Hubei government said on its WeChat account on Wednesday...
In December 2025, reporters from The Beijing News went undercover as caregivers at several psychiatric hospitals in Xiangyang and Yichang, exposing a large-scale medical insurance fraud scheme within the sector.
The hospitals allegedly lured elderly people and individuals seeking treatment for alcoholism with promises of “free hospitalization” and “free transportation,” while caregivers and security staff were instructed to pose as “psychiatric patients.”
国家医保局：对精神疾病类医保定点医疗机构展开集体约谈_中国经济网
The National Healthcare Security Administration (NHSA) issued a notice today. To further strengthen the management of designated medical institutions for psychiatric diseases under health insurance (including psychiatric departments of general hospitals, hereinafter referred to as designated psychiatric institutions) and severely crack down on the chaos of illegal and irregular use of medical insurance funds, all provincial-level healthcare security departments must organize collective regulatory talks with the principal heads of all designated psychiatric institutions within their jurisdictions by this Sunday. These talks will explain relevant laws, regulations, and regulatory policies regarding medical security. At the same time, using the problems found in recent media exposures of some designated psychiatric institutions in Xiangyang City and Yichang City, Hubei Province, as well as those discovered in previous unannounced health insurance inspections as cautionary tales, warning education will be conducted to strengthen the awareness of designated psychiatric institutions regarding the legal and compliant use of medical insurance funds.
国家医保局今天发出通知，为进一步加强精神疾病类医保定点医疗机构(含综合医院精神科，以下简称精神类定点医疗机构)管理，严厉打击违法违规使用医保基金乱象，各省级医保部门要于本周日前组织对辖区内所有精神类定点医疗机构主要负责人进行集体约谈，宣讲医疗保障相关法律法规和监管政策。同时，以近期有关媒体曝光的湖北省襄阳市、宜昌市部分精神类定点医疗机构和以往医保飞行检查中发现的问题为反面案例，开展警示教育，强化精神类定点医疗机构合法合规使用医保基金意识。
China Proposes New Law to Dismantle Cybercrime Supply Chains - Caixin The Ministry of Public Security has released a draft of the Network Crime Prevention and Control Law for public comment, signaling a shift toward targeting the specialized support systems — known in China as “black and gray” industries — that enable cybercrime. The draft legislation focuses on disrupting the “material supply” chains that allow criminals to operate anonymously. Authorities stated that the proposal explicitly prohibits any individual or organization from interfering with or dismantling real-name registration systems, a move designed to curb the illicit trade in verified credentials.
China’s Ministry of Public Security releases cases of illegal drone flights bypassing altitude restrictions near military airfields and airspace - Global Times China’s Ministry of Public Security (MPS) on Wednesday released eight typical cases involving illegal drone flights, drawn from recent years, as unauthorized drone operations have increasingly disrupted airspace order and posed risks to civil aviation safety, according to the ministry’s official WeChat account.
全国信访系统“最美信访干部”座谈会在京召开 陈文清出席会议并讲话-新华网 A symposium for the “Most Beautiful Petition Officials” of the national petition system was held in Beijing on the 4th. Chen Wenqing, Member of the Political Bureau of the CPC Central Committee and Secretary of the Commission for Political and Legal Affairs of the CPC Central Committee, attended the meeting and delivered a speech. He stated that it is necessary to study and implement Xi Jinping Thought on the Rule of Law and General Secretary Xi Jinping’s important thought on strengthening and improving people’s petition work. It is essential to persist in a people-centric approach, establish and practice a correct view of performance evaluation, deeply advance the legalization of petition work, and strive to build a high-quality petition work team that is loyal and reliable to the Party, strictly observes the duty of serving the people, and is good at doing mass work, thereby making new and greater contributions to serving the overall work of the Party and the state, safeguarding the legitimate rights and interests of the masses, and promoting social harmony and stability. 全国信访系统“最美信访干部”座谈会4日在京召开。中共中央政治局委员、中央政法委书记陈文清出席会议并讲话。他表示，要学习贯彻习近平法治思想、习近平总书记关于加强和改进人民信访工作的重要思想，坚持以人民为中心，树立和践行正确政绩观，深入推进信访工作法治化，努力建设对党忠诚可靠、恪守为民之责、善做群众工作的高素质信访工作队伍，为服务党和国家工作大局、维护群众合法权益、促进社会和谐稳定作出新的更大贡献
Foreign and Defense Affairs
Xi says China consistently attaches great importance to ties with Vietnam-Xinhua
Xi made the remarks when meeting with Le Hoai Trung, special envoy of General Secretary of the Communist Party of Vietnam (CPV) Central Committee To Lam, in Beijing. Trung is a member of the Political Bureau of the CPV Central Committee and minister of foreign affairs of Vietnam.
Xi said the CPC and the CPV have maintained the fine tradition of reciprocal notification of their respective major political agendas, a practice that embodies the unique and friendly bond of comrades and brothers of the two countries, as well as their strong political mutual trust...
Trung conveyed a reply letter of gratitude from Lam to Xi, along with a verbal message. Trung said that Vietnam consistently regards consolidating and developing relations with China as the top priority in its foreign policy and stands ready to move forward hand in hand with China on a new journey of development.
Guided by the important consensus reached by the leaders of the two Parties and two countries, both sides should reinforce the political, material, and public support foundations for bilateral relations, elevate Vietnam-China relations to new heights, and deliver greater benefits to people of both countries, Trung said
Four people, including two Chinese nationals, arrested in France on suspicion of spying | Reuters Four people, including two Chinese nationals, have been arrested in France on suspicion of spying for China and were brought before an investigative judge, the Paris public prosecutor’s office said on Wednesday...This followed the discovery that two Chinese nationals had entered French territory with the aim of capturing satellite data from the Starlink network and data from entities of vital importance, particularly military entities, in order to transmit it to their country of origin, namely China, it added.
Exclusive | China and Spain in talks for PM Pedro Sanchez to visit Beijing – again | South China Morning Post Spanish Prime Minister Pedro Sanchez is set to visit China later this year, as tensions with the United States prompt more European countries to rethink ties with Beijing. A source familiar with the talks said the two sides were discussing details of the trip. If it goes ahead, it will be Sanchez’s fourth to China in four years.
China Denounces Ruling by Panama Court to Void CK Hutchison’s Port Contracts - Bloomberg It accused Panama of succumbing to hegemony and yielding to intimidation, instead of defending its independence as a sovereign state. “Panamanian authorities must recognize the situation and correct their course,” the Hong Kong and Macao Affairs Office said. “Persisting in this misguided path will result in a heavy price, both politically and economically.”
The Chinese side has already made responses to the ruling, and the Hong Kong Special Administrative Region government has also issued a statement. China will firmly safeguard the legitimate and lawful rights and interests of Chinese enterprises, Chinese Foreign Ministry spokesperson Lin Jian said on Wednesday at a regular press briefing. The remarks were made in response to reports that on January 30 Panama’s Supreme Court ruled the port operating rights at both ends of the Panama Canal held by CK Hutchison Holdings unconstitutional, as well as remarks by US Secretary of State Marco Rubio welcoming the ruling and comments by John Moolenaar, chair of the US House’s so-called “Select Committee on China,” claiming that the Western Hemisphere does not welcome China’s “malign influence.”
Lin stressed that the relevant remarks by the US side once again expose its Cold War mentality and ideological bias. “Who is seeking to monopolize the canal and who is undermining international law under the pretext of the rule of law is plain for the international community to see,” he said.
Political pressure clouds Chinese firms’ overseas ports operations, triggering wide alarm - Global Times The Hong Kong and Macao Affairs Office said in a statement on Tuesday night that the ruling, made on so-called “constitutional” grounds, disregarded facts, violated good faith, and seriously harmed the legitimate rights and interests of Chinese Hong Kong enterprises. The office added that China “will never yield to power politics or hegemony and has sufficient means, tools, strength and capability to safeguard fairness and justice in the international economic and trade order,” according to its official WeChat account. The statement also said that the Panamanian government should size up the situation and return from the wrong path. If it persists in its wrong course and refuses to repent, it will inevitably pay a heavy price both politically and economically.
On February 2, Wang Yi, Member of the Political Bureau of the CPC Central Committee and Minister of Foreign Affairs, visited the Xi Jinping Thought on Diplomacy Research Center for research and guidance.
2月2日，中共中央政治局委员、外交部长王毅赴习近平外交思想研究中心调研。
Wang Yi stated that establishing the Xi Jinping Thought on Diplomacy Research Center is a major political task undertaken by the diplomatic front. Since its establishment over five years ago, the center has closely revolved around the core concepts and essential meaning of Xi Jinping Thought on Diplomacy. It has achieved fruitful results in systematic research, theoretical elucidation, and international exchange, with its academic influence, policy influence, and international influence continuously increasing.
王毅表示，设立习近平外交思想研究中心是外交战线承担的重大政治任务。中心成立五年多来，紧紧围绕习近平外交思想的核心理念和精髓要义，在体系化研究、学理化阐释、国际化交流等方面都取得了丰硕成果，学术影响力、政策影响力、国际影响力持续提升。
Wang Yi emphasized that the depth of current changes in the international situation is historically rare, and the intensity of the turbulence is more prominent. China’s development is in a period where strategic opportunities and risk challenges coexist, and uncertain and unpredictable factors are increasing. The more intricate and complex the international situation is, the more the diplomatic front must study, research, and apply Xi Jinping Thought on Diplomacy well, using it to provide scientific guidance and fundamental principles to follow for diplomatic work on the new journey. To study, contemplate, practice, and comprehend Xi Jinping Thought on Diplomacy, the focus should be on enhancing the historical initiative to lead the changes of the century, on promoting the fighting spirit to bravely overcome difficulties, on gathering the moral strength to unite the majority of the world, and on mastering scientific methods to navigate complex situations.
王毅强调，当前国际形势变的深度史所罕见，乱的烈度更加突出，我国发展处于战略机遇和风险挑战并存、不确定难预料因素增多的时期。国际形势越是错综复杂，外交战线越要学习好、研究好、运用好习近平外交思想，以此为新征程上的外交工作提供科学指南和根本遵循。学思践悟习近平外交思想，重在增强引领百年变局的历史主动，重在弘扬勇于攻坚克难的斗争精神，重在汇集团结世界大多数的道义力量，重在掌握驾驭复杂局面的科学方法。
China urges Japan to reflect on history of aggression, adhere to peaceful development - Xinhua
Foreign ministry spokesperson Lin Jian made the remarks at a daily news briefing in response to recent remarks by Japanese Prime Minister Sanae Takaichi regarding constitutional revision to explicitly recognize the country’s Self-Defense Forces.
“During World War II, Japanese militarism brought profound suffering to the region and the world,” Lin said.
The spokesperson added that a series of instruments with legal effect under international law, including the Cairo Declaration, the Potsdam Proclamation and the Japanese Instrument of Surrender, clearly outlined Japan’s international obligations as a defeated state, which also formed the political and legal foundation for its return to the international community.
A survey exploring young Europeans’ perception of China and China-Europe relations released on Wednesday revealed that the overall image of China among European youth is generally positive, with more than 80 percent of respondents hold a good opinion of China.
The launch event for the report, named China in the Eyes of European Youth Perspectives of Young Europeans on China-Europe Relations was hosted by the Institute of European Studies of the Chinese Academy of Social Sciences, with the survey conducted from October 21 to November 25, 2025 among 19,025 young Europeans aged 18 to 35 across 36 countries.
According to the result, China enjoys a generally positive image among young Europeans, particularly in Southeastern Europe, Spain and the UK.
Former Fed Adviser Is Acquitted of Economic Espionage Conspiracy Charges - WSJ A former Federal Reserve official was found not guilty Tuesday of conspiring to share confidential central-bank information with Chinese intelligence officers, capping a case that featured spycraft, online seduction and a blackmail scam. After a day of deliberations, a jury acquitted John Rogers, a 64-year-old former senior adviser in the Fed’s division of international finance, of the most serious charge he was facing. Jurors did convict him of a lesser charge of lying to investigators when, in a 2020 interview with the Fed’s internal-watchdog office, he denied sharing sensitive information outside the central bank.
Office of Public Affairs | Chinese National Extradited from Guatemala to Face Charges of Narcotics Trafficking, Money Laundering and Material Support to Terrorism | United States Department of Justice Wenshen Xu, a Chinese national, was extradited from Guatemala to the United States yesterday to face an indictment returned in the Eastern District of Virginia charging him with conspiring to import cocaine into the United States, launder money derived from drug trafficking and provide material support to a designated Foreign Terrorist Organization, specifically the Cártel de Jalisco Nueva Generación (CJNG).
Chinese LLMs Monitor Southeast and East Asian Seas Mingkun Technology, a Chongqing-based company, developed China’s first LLM, which helps entities, such as the 709 Research Institute of the China Shipbuilding Industry Corporation (CSSC), military units, and other government agencies with maritime surveillance and decision-making. Mingkun’s system monitors the seas east and south of China, as well as the Taiwan Strait.1 With its maritime situational awareness system, Mingkun Technology keeps tabs on foreign war ship and airborne vehicles. Mingkun’s LLM is powered by DeepSeek, Qianwen (Alibaba Cloud) and Doubao (ByteDance).
Taiwan
AI Fever Propels Taiwan’s Rise Over China in EM Stocks Benchmark - Bloomberg Taiwan has overtaken China as the market with the top weighting in the MSCI Emerging Markets Index, driven by a rally in artificial-intelligence shares. Taiwan now accounts for 21.06% of the index, edging past China’s 20.93% weight, and marks the first time Taiwan has surpassed China since July 2007
Wang Huning, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and chairman of the Chinese People’s Political Consultative Conference National Committee, met with Hsiao Hsu-tsen, a vice chairman of the Chinese Kuomintang party (KMT), in Beijing on Wednesday, with both sides reaffirming to uphold the 1992 Consensus and oppose “Taiwan independence.”
The meeting came on the heels of a resumed CPC-KMT think tank forum held on Tuesday, which drew more than 100 participants from both sides of the Taiwan Straits and saw the proposal of 15 common opinions on advancing cross-Straits exchanges and cooperation.
Wang said that the mainland will strengthen exchanges and interactions with various political parties, groups and people from all sectors in Taiwan, including the KMT, on the political basis of upholding the 1992 Consensus and opposing “Taiwan independence,” promoting cross-Straits exchanges and cooperation, and further advance the integrated development of the two sides, according to the Xinhua News Agency.
CPC, KMT think tank forum proposes common opinions on promoting cross-Strait cooperation - Xinhua
A series of common opinions on promoting cross-Strait exchanges and cooperation was proposed at a think tank forum co-hosted by research institutes affiliated with the Communist Party of China (CPC) and the Chinese Kuomintang (KMT) party, which was held in Beijing on Tuesday.
The 15 opinions covered five aspects of cross-Strait cooperation and exchanges.
The participants at the forum expressed a shared call for the restoration of normal cross-Strait travel, urging the removal of the Democratic Progressive Party (DPP) authorities’ restrictions on personnel exchanges and the full resumption of normal operations of direct sea and air passenger services between the two sides as soon as possible.Chinese mainland to resume travel for Shanghai residents to Kinmen and Matsu: Ministry of Culture and Tourism - Global Times To further normalize cross-Straits personnel exchanges and regularize exchanges across various fields, address the strong expectations of the people and the tourism industry in Taiwan region, and enhance the well-being of compatriots on both sides of the Straits, the Chinese mainland will soon resume travel for Shanghai residents to Kinmen and Matsu, the Ministry of Culture and Tourism said on Wednesday.
Taiwan’s energy dilemma - by David Roberts - Volts How does a small, mountainous island with no interconnections and a massive industrial load clean up its grid? In this episode, I speak with Yeh-Tang “Ricky” Huang about the technical and political bottlenecks holding back Taiwan’s energy transition. We explore why the country has struggled to deploy wind and solar, the realistic prospects for advanced geothermal, and the absolute necessity of demand-side flexibility in such a constrained system.
Tech and Media
To understand China, understand the Chinese internet - Rest of World In her new book “The Wall Dancers: Searching for Freedom and Connection on the Chinese Internet,” journalist Yi-Ling Liu examines the country’s censorship, viral trends and growing global power.
In this excerpt from The Wall Dancers, Yi-Ling Liu shows us what that groundswell looked like in the south-west city of Chengdu, home to 20 million people, 237 pandas and many acclaimed rappers. We’re there, in that interval between the skittering pops of a trap beat, following Kafe Hu as he moves to the city, picks up the mic, and seeks his fame. We’re there as verses are spit, as moshpits heave, and as local enforcers burst through the club doors to stop the music NOW. Through Kafe’s eyes we see how a fringe “foreign influence” exploded in such a short time.
Liu offers a stage-side view of the genre’s development, showing how a local style was forged at underground shows and rap battles, combining menacing trap beats and smooth, atonal drawl. We meet the OGs, among them 老熊MOW and 谢帝 Xie Di (AKA Fat Shady). And when the first season of The Rap of China airs, we see how (and why) Chengdu produces many of its lodestars – Wang Yitai, Higher Brothers, Kafe himself.
腾讯元宝红包微信分享遭限制，AI入口之争遇挫了吗？_10%公司_澎湃新闻-The Paper Tencent restricts direct opening of its own “Yuanbao Red Packet” within WeChat..
Previously, many WeChat users have complained on social media about the “screen flooding” phenomenon of Yuanbao Red Packets, complaining that the activity has “no sense of design” and “poor experience.” On February 2, reporters from The Paper learned that Tencent stated in an internal letter: “Today we received a lot of discussions and feedback regarding the Yuanbao Spring Festival Red Packet activity and WeChat’s external link management norms. Our team is following up closely and maintaining close communication with legal, public relations, and relevant business teams to conduct a comprehensive assessment. Thank you for your attention and thinking on this matter, which helps us to more comprehensively evaluate the compliance boundaries and user experience of such activities.”
此前，已有不少微信用户在社交媒体上抱怨元宝红包的“刷屏”现象，吐槽其活动“毫无设计感”“体验差”。2月2日，澎湃新闻记者获悉，腾讯内部信中称：今天收到很多元宝春节红包活动与微信外链管理规范之间的讨论与反馈，我们团队正在密切跟进，并与法务，公关及相关业务团队保持紧密沟通，进行综合研判。感谢大家对此的关注和思考，这有助于我们更周全地评估此类活动的合规边界与用户体验。
张一鸣出手28亿北京买地，互联网巨头热衷自建办公楼 ByteDance buys a parcel of land in Beijing’s Haidian District for 2.8 Billion RMB
Chinese AI firms defend safety practices, push back on Western criticism | South China Morning Post In a podcast released on Sunday, former DeepSeek researcher Tu Jinhao said an obsession with catching up with the US had overshadowed domestic work on AI safety. “All the computational resources are being spent training AI models, with little left to spend on safety work,” said Tu, who was still in high school when he joined the Hangzhou start-up. DeepSeek did not respond to a request for comment.
Society, Arts, Sports, Culture and History
Islamic China with Rian Thum | China Books Review In his new book Islamic China: An Asian History (Harvard University Press, November 2025), the scholar Rian Thum tells the interlinked stories of a score of Chinese Muslims, both famous and obscure, across multiple ethnicities, sects and centuries. He traces this history through the Ming, Qing and Republican eras to argue that global Islam has been an important part of China’s story, and vice versa. We’re delighted to be joined by Thum on the podcast to weave this tapestry for us, and to tell us what relevance Islam’s history in China has on its present:
‘A Symbol of Chinese New Year’: Harry Potter’s Draco Malfoy actor shares post as character becomes Year of the Horse mascot in China - Global Times For some you might not know, Draco Malfoy is now an unexpected mascot of good fortune for the Year of the Horse among Chinese netizens. Pasted beside crimson couplets on apartment doors, decorated on tea cups and shimmering from the backs of smartphones is the face of Malfoy — the silver-tongued Slytherin from J.K. Rowling’s massively successful book series Harry Potter. The trend stems from a clever linguistic play on words. In the Chinese translation, Malfoy’s name is rendered as ma er fu - the character ma means “horse,” while fu means fortune or blessing. This coincidental combination has led Chinese netizens to adopt Malfoy as a playful symbol for the upcoming Year of the Horse.
From meme to misdiagnosis: How Western media got China’s ‘crying horse’ popularity wrong - Global Times For China’s youth, the “crying horse” plushie that recently went viral is a playful emblem; for a segment of the Western press, it has become a prop in a pre-written drama of economic decline and social pessimism. Here is what’s really happening in China. The “crying horse” was born from a happy accident - a factory worker sewed the smile upside down, leaving the toy looking adorably stubborn and unintentionally hilarious. This, in Chinese pop-culture terms, is what we call “emotional value.” When a product delivers that kind of charm, it’s bound to become a runaway hit.
Will China’s Social Volcano erupt? — with Martin Whyte I was lucky to interview him at his house in the suburb of DC in 2024, when he generously shared his life and academic evolution with me. In particular, what caught my attention was that he has tracked the issue of inequality in China with three major national studies in 2004, 2009, and 2014. In 2023, the survey results got interesting as a new study was completed with Scott Rozelle and his team at Stanford, revealing that, unlike in previous studies, young people believe much less in the fruits of hard work and are more skeptical that they will live better lives than their parents. This conversation, which has been edited for brevity and clarity, is a career-wise reflection by Prof. Martin Whyte, on his unlikely sociological journey with China.
An ambient double-bill + a lunar new year playlist with a difference In this issue: a soothing double dose of ambient-experimental sounds, “Sinocentric psychedelic spiritual jazz” from Yunnan, a horse-themed playlist (yup) and an alternative Lunar New Year soundtrack, a pair of new tracks from psych act Railway Suicide Train, field trips to a Fujian forest and the Himalayas, Hong Kong nihilism, and more.
Energy, Environment, Science and Health
Chinese solar shares surge after reports of visits from Musk delegations | Reuters A team sent by Musk recently visited several photovoltaic companies in China, including those involved in equipment, silicon wafers, battery modules and perovskite technology, according to a story publicised on Tuesday by Sina Finance, a private Chinese media company, that cited sources in the Chinese solar industry. The story did not name any companies.
NIH-funded biomedicine researcher Gao Zhonghua leaves US for China | South China Morning Post Leading brain development and gene regulation researcher Gao Zhonghua has joined a newly established university in the southern Chinese city of Shenzhen after more than two decades working in the United States.
Gao became a full-time research professor at the Shenzhen University of Advanced Technology (SUAT) last month, according to the university website.
How China Can Protect Farmers From a Changing Climate - Sixth Tone According to the World Meteorological Organization, 2025 was one of the three warmest years on record, with high temperatures fueling strong tropical cyclones, scorching heat waves, and heavy rainfall. Among the people who bore the brunt of 2025’s extreme weather were the farmers of northern China, who experienced a nightmare fall harvest season. Instead of the usual crisp conditions, heavy rainfall made fields inaccessible for heavy combine harvesters. Corn and peanuts that should have been drying in the sunshine turned black from mold.
Caixin - China Draws More Foreign Patients — But Medical Tourism Is Still a Niche A viral post about a 26-year-old British woman who traveled to China for stomach treatment — an ailment she said was resolved in 13 days for about 300 pounds ($409) after a long wait in the U.K. — has stirred fresh debate online about China’s appeal as a destination for medical care. Some hospitals say they are seeing more overseas patients. Industry experts, however, say China’s medical-tourism business remains small and faces hurdles that keep it far behind regional rivals.
Tibet’s exploitable green power could meet China’s energy needs: official survey | South China Morning Post According to researchers from the China Society for Hydropower Engineering and the state-owned Power Construction Corporation of China, the technically exploitable capacity of hydropower in Tibet could reach 178 gigawatts, and more than 100GW for wind power. They said the development potential of solar power could reach 10,000GW, which is theoretically enough to meet China’s current and future energy demand.
China to Boost Batteries Sector with New Grid Backup Policy - Bloomberg Beijing has for the first time instructed provinces to include batteries in a payment program that’s designed to ensure reliable electricity supplies and enhance the green transition, according to a notice from economic planners late last week.
The Draco Malfoy story was fun