Author: OMN AI

The European Union and China have reached a new understanding that could sharply reduce Chinese hybrid car exports to Europe over the next four years. The deal aims to ease trade tensions and help address the EU’s growing trade gap with China. European Trade Commissioner Maros Sefcovic announced the agreement on Friday after two days of talks in Beijing. He said the plan could cut imports of Chinese hybrid and plug-in hybrid cars by several million vehicles over four years. The two sides have not yet shared full details on how the plan will work. Sefcovic said the agreement would…

US President Donald Trump welcomed Chinese President Xi Jinping to the United States on Wednesday for a three-day visit focused on key global issues. The leaders are expected to discuss trade, artificial intelligence safety, Taiwan, the war in Iran, and critical minerals. Trump and First Lady Melania Trump greeted Xi and his wife, Peng Liyuan, at Joint Base Andrews in Maryland on September 23. The arrival ceremony featured a red carpet, military personnel, music, and a flyover by two B1 bombers. The welcome marked an unusual move by Trump, who often receives foreign leaders at the White House. The visit…

China is launching a major effort to improve its electricity network as the country seeks to make better use of the vast renewable energy capacity it continues to build each year. The initiative forms part of China’s latest Five-Year Plan and focuses on reducing the growing amount of clean electricity that cannot reach consumers because of transmission and grid limitations. China remains the world’s largest builder of renewable energy projects, including solar, wind and other clean power technologies. However, renewable generation has expanded faster than parts of the national grid can absorb and distribute. As a result, a significant amount…

European Trade Commissioner Maros Sefcovic has arrived in Beijing for high-level discussions aimed at addressing growing trade tensions between the European Union and China. The talks come after months of negotiations over a widening trade imbalance, market access concerns and restrictions affecting critical supply chains. European officials are seeking concrete progress ahead of a meeting of EU leaders scheduled for next week in Brussels. Sefcovic is expected to meet Chinese Commerce Minister Wang Wentao during two days of discussions focused on trade relations between the world’s second-largest economy and one of its most important trading partners. At the center of…

The European Union and China are entering a critical period in their economic relationship as senior officials prepare for high-level negotiations aimed at addressing growing trade tensions and a widening trade imbalance. The next several days are expected to play an important role in determining whether both sides can make progress before European leaders meet to discuss the future of relations with Beijing. At the center of the discussions is EU Trade Commissioner Maroš Šefčovič, who is scheduled to travel to Beijing for talks with Chinese Commerce Minister Wang Wentao. European officials are seeking concrete outcomes that could help rebalance…

China’s economy is expected to grow at a slower pace over the next two years as weak domestic demand and fading export momentum continue to challenge the world’s second-largest economy, according to a new report from a leading economic research institution. The latest Global Economic Prospects report forecasts that China’s gross domestic product will expand by 4.6 percent in 2026 and 4.3 percent in 2027. Those figures represent a gradual slowdown from the 5 percent growth recorded in 2025. The report suggests that while the global economy remains relatively resilient, China is facing a different set of pressures that could…

A new public opinion survey has found that many people in mainland China prefer non-military pressure rather than armed conflict when it comes to the long-standing issue of Taiwan, while also supporting continued engagement with the United States on key issues. The findings come from the latest China Pulse survey, a biannual study conducted by The Carter Center in partnership with Emory University. Researchers gathered responses between April 16 and June 26, a period that covered important developments in relations between China and the United States. The survey offers insight into public attitudes on some of the most sensitive issues…

Reflection AI has unveiled new details about its upcoming Beam artificial intelligence model, saying the system performs at a level comparable to some of the most advanced open-weight AI models developed in China. The announcement highlights growing competition in the global AI industry as companies race to build powerful models for coding, reasoning, and autonomous software tasks. Reflection AI said Beam is currently undergoing final evaluations before a broader release planned for later this month. The startup was founded by two former researchers from Google DeepMind and has attracted support from major technology investors, including Nvidia. The company described Beam…

China has established an ambitious target for the future of electric vehicle technology, setting 2030 as the milestone for the first large-scale use of all-solid-state batteries. The goal highlights the country’s determination to remain a leader in battery innovation, even as industry experts caution that widespread deployment may still be years away. The target was included in a new plan released by China’s industry ministry together with six other government agencies. Covering the period from 2026 to 2030, the strategy outlines priorities for battery development and broader advancements in the electric vehicle sector. Among its objectives is the promotion of…

China’s banking sector is undergoing one of its biggest restructurings in decades, with hundreds of smaller lenders disappearing as regulators push for greater financial stability and stronger oversight. According to recently reported regulatory data, more than 670 banks were closed during 2025, marking the largest annual reduction in China’s banking system on record. The closures are part of a wider effort to consolidate smaller institutions and address risks that have emerged in parts of the financial sector. The move has significantly reduced the number of banks operating in the country. China now has approximately 3,139 banking institutions, down about 23…