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US businesses are more concerned about China's slowing economy than trade friction, according to a survey by the American Chamber of Commerce in China released Friday. Of 368 companies responding to the survey, 64% viewed slowing growth in the world's second largest economy as their top worry, while 58% cited US-China trade tensions as a key challenge. One reason for that may be that many US companies have businesses focused on China's huge market of about 1.4 billion people that do not rely on exports back to the US Economists expect China's economy to slow further this year after expanding at about a 5% annual pace in 2025. Growth in exports outpaced imports last year, leading to a record trade surplus of nearly $1.2 trillion. The report said business sentiment has improved from last year. More than half of those responding estimated that they made a profit in 2025, up from less than half last year. It has been a rocky ride for American businesses in recent years, especially aft
Chinese President Xi Jinping on Wednesday hailed his country's technological progress in areas such as artificial intelligence and semiconductors while once again insisting his country would annex self-ruled Taiwan. During his New Year's Eve address broadcast Wednesday evening by state media, Xi praised the country's advancements in key sectors including military tech and space exploration. Images ranging from humanoid robots performing kung fu to new hydropower projects rolled on the screen as he spoke. We sought to energize high-quality development through innovation, Xi said while thanking Chinese people for contributing to the country's economic growth over the past five years. China plans its economic development over periods of five years and is preparing to discuss its new five-year plan at the upcoming legislative session in March. The country is set to speed up self-reliance in science and technology as the United States imposes increasingly tight controls on access to ...
China's exports contracted in October, hit by a 25% drop in shipments to the United States, the government reported Friday. Persisting trade tensions with Washington may get a respite in the final quarter of the year after President Donald Trump and Chinese leader Xi Jinping agreed last week to de-escalate the trade war between the two largest economies. But trade friction still appears to be casting a pall on demand elsewhere. Customs data show a 1.1% drop in China's global exports in October compared to a year earlier, the weakest since February, following an 8.3% increase in September. Imports rose 1% last month from the year before, compared with 7.4% growth in September. China's shipments to the US have already fallen by double-digits for seven consecutive months, while it has diversified its export markets to regions such as Southeast Asia and Africa. The October decline also was affected by a high base for the same month in 2024, when exports growth soared more than 12.6%,