China pledged to “significantly” boost the share of consumption in its economy over the next five years while keeping tech and manufacturing as the top priorities, in an effort to become less reliant on exports after a steep escalation of trade tensions in 2025.

In terms of the GDP, China's economy has achieved an average annual growth rate of 5.5 percent in the first four years.

His remarks after face-to-face talks with Chinese President Xi Jinping in the South Korean city of Busan, their first since 2019, marked the finale of Trump's whirlwind Asia trip on which he also touted trade breakthroughs with South Korea,

A further increase in China’s trade surplus failed to fully offset the effects of a worsening housing market, which has left consumers wary.

China's top leaders have pledged to boost the country's self-reliance in advanced technologies and spur stronger domestic demand over the next five years.

China needs a bolder spending package to mend the finances of households and companies, according to a central bank adviser, as signs of resilience in the economy mask the damage wrought by the trade war with the US.

Economic relations between the two countries are more fraught than ever: in early October, for the second time in just six months, the United States and China launched a trade war, imposing prohibitive export restrictions and threatening to raise tariffs to previously unthinkable levels.

Once China’s answer to Pittsburgh, steel hub Panzhihua faces same challenge as other old industrial cities: how to avoid “rust belt” decline.