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China's export machine kept roaring in September with growth pace during the month significantly exceeding expectations, despite a series of challenges, including the lingering fallout of the COVID-19 pandemic, power shortages and price hikes for bulk commodities.
Buying beautiful flowers or chocolate for loved ones, going out for a luxury dinner, or staying at home after buying steak and wine online to celebrate the Qixi Festival, or the Chinese Valentine’s Day, which fell on Saturday this year, Chinese consumers spent big during the popular day for young couples despite recent COVID-19 flare-ups.
The US Senate on Tuesday approved $1 trillion bipartisan infrastructure bill after months of negotiations. Despite the US government’ attempt to decouple from China, experts said the country’s infrastructure push can’t proceed without participation of China.
Sales of excavators, often considered a barometer of China's economy, fell 9.24 percent year-on-year in July, reflecting an upgrade of infrastructure investment as the country shifts from extensive economic growth to high-quality development.
China’s major e-commerce platforms including JD and Alibaba’s Tmall kicked off this year’s 618 mid-year shopping festival on Tuesday with record sales, in another testament to the massive buying power of Chinese consumers in a virus-free environment and the resilience of the Chinese economy.