07/29
2025 Tue.
CRRC Corporation, the world's largest supplier of rail transit equipment, said on Tuesday that it and its subsidiaries signed several major contracts between May and July 2025, totaling approximately 32.92 billion yuan (US$4.54 billion). The company did not disclose further details.
07/23
2025 Wed.
Chinese electric air taxi maker Volant Aerotech has secured the country's largest international order for high-capacity eVTOL aircraft, as Thailand's Pan Pacific Co. agrees to purchase 500 VE25-100 models in a deal worth US$1.75 billion. The agreement, signed on July 23 at the inaugural International Low-Altitude Economy Expo, also includes state-owned CATIC-ENG (China National Aero-technology International Engineering Corporation). Under the three-party cooperation framework, Volant will supply its five-seat aircraft for island-hopping and emergency response operations in Thailand, the Maldives, and other regional destinations. CATIC-ENG will support low-altitude infrastructure development in Belt and Road markets. The VE25-100, branded as "Skylar"and known in Chinese as "Tianxing,"is Volant's flagship eVTOL, designed for short-haul passenger transport with vertical take-off and landing capabilities.
07/22
2025 Tue.
The number of social security card holders in China hit 1.39 billion as of end-June, covering 98.9 per cent of the population, according to the Ministry of Human Resources and Social Security. Participation in key social insurance programs continued to grow steadily. As of June, 1.071 billion people were enrolled in basic pension insurance, 245 million in unemployment insurance, and 300 million in work-related injury insurance. In the first half of 2025, total revenue for the three funds reached 4.53 trillion yuan, with expenditures at 3.89 trillion yuan, leaving a cumulative balance of 9.83 trillion yuan. National coordination of basic pension insurance for employees advanced steadily, with transfer payments allocated to financially weaker provinces to ensure timely disbursement. The government paid 76.8 billion yuan in social insurance contributions and benefits on behalf of 14.79 million low-income and disadvantaged individuals, including coverage for pension, medical (including maternity), and unemployment insurance. The scale of pension fund investments reached 2.55 trillion yuan. Meanwhile, use of digital services expanded, with 1.097 billion people now holding electronic social security cards—77.9 per cent of the population.
Taobao has rolled out a Thai-language version of its platform, with local user numbers in Thailand surging nearly 60 per cent year on year since launch, the company said. The move comes just two months after the platform introduced a Russian-language version in Kazakhstan in May, marking a quickened pace in its multilingual expansion abroad.
07/21
2025 Mon.
State-owned infrastructure giant Power Construction Corporation of China (PowerChina) said it signed new contracts worth 686.7 billion yuan (US$94.5 billion) in the first half of 2025, up 5.83 per cent from a year earlier. Energy and power projects accounted for the largest share at 431.4 billion yuan, marking a 12.27 per cent year-on-year increase. Contracts in water resources and environmental sectors fell 14.05 per cent to 77.3 billion yuan, while those in urban development and infrastructure dropped 1.65 per cent to 143.3 billion yuan. Domestic deals totaled 545 billion yuan, up 3.16 per cent, while overseas contracts jumped 17.5 per cent to 141.7 billion yuan.
BYD marked a new milestone on July 21 as its 13 millionth new energy vehicle rolled off the production line at its Shenzhen-Shanwei factory. The milestone car was the U7, a high-end electric sedan under its luxury sub-brand Yangwang. The rollout comes amid robust sales growth. In the first half of 2025, BYD sold over 2.11 million vehicles in China, up 31.5 per cent year on year. Overseas sales surged 128.5 per cent to 472,000 units. Also on Monday, Yangwang announced Chinese Olympic swimmer PAN Zhanle as brand ambassador for the U7. The 100-meter freestyle world record holder is also the owner of the landmark 13 millionth vehicle.
07/17
2025 Thu.
Chinese delivery giant Meituan said it will roll out subsidies for basic pension contributions nationwide this year, aiming to cover more than one million riders. The announcement was made on Thursday at the company's annual Rider Festival. Meituan also said its workplace injury insurance—known as "New Occupational Injury Insurance"—has expanded to 17 provincial-level regions as of July 1, offering riders enhanced accident coverage. The company also launched the "Tongzhou Fund," a support initiative open to all industry riders and their families. It includes major illness assistance for family members and the "Kangaroo Baby" public welfare program for children's health and education. To improve working conditions, Meituan plans to build 1,000 new "Rider Homes" across China over the next three years, in partnership with the All-China Federation of Trade Unions. The facilities will be open to riders across the industry.
Citigroup has raised its rating on Chinese equities from "neutral"to "overweight,"citing improving earnings momentum and renewed investor interest in technology shares, which have climbed more than 20 percent so far this year. The bank's strategists said China's earnings revision trend has turned more positive, and valuations remain attractive despite persistent trade risks. The upgrade reflects growing confidence that Chinese markets are poised to benefit from a combination of low base effects, policy support, and a rebound in corporate profitability. In contrast, Citigroup downgraded Indian equities to "neutral,"saying that while macro conditions remain solid, the country's earnings growth no longer stands out in a slowing global trade environment.
07/15
2025 Tue.
China's consumer prices are expected to see a mild rebound in the second half of 2025, underpinned by stable economic momentum and growing domestic demand, according to the National Bureau of Statistics. At a State Council press conference on Tuesday, NBS deputy head SHENG Laiyun said the outlook is supported by continued policy stimulus to boost consumption, efforts to rein in disorderly price competition, and holiday-related demand lifting service prices. Sheng added that fading carryover effects—statistical base factors that had previously dragged down inflation—will ease pressure on both the consumer price index (CPI) and producer price index (PPI) in the coming months. With policy support and an improving market environment, prices are expected to maintain a steady, moderate upward trend, he said.
07/14
2025 Mon.
HNA Holdings said it expects to post a net profit of 45 million to 65 million yuan for the first half of 2025, swinging from a 636 million yuan loss a year earlier. The carrier attributed the turnaround to a recovery in China's aviation market, improved operational performance, and a stronger yuan, which reduced the burden of its foreign currency-denominated debts. Lower jet fuel prices and asset disposal gains also contributed to the profit.
