China publishes tariff-cut framework with the United States.
Today's events
Tariff-cut framework.
China's commerce ministry published terms of a $30 billion reciprocal tariff-cut deal with Washington, dropping duties on over 90% of listed goods to normal rates.1Sep 28 · Commerce MinistryIndustrial profits.
Industrial firms' profits rose 15.7% in the first eight months to 5.27 trillion yuan, led by mining and electronics; power generation fell 12%.2Sep 28 · Stats BureauSupplier payment rules.
State Council ordered large firms to pay small suppliers in cash within 60 days, with joint interviews and public blacklisting for deliberate delays.3Sep 25 · State CouncilFinancial five-year plan.
Qiushi, the Party's theoretical journal, marked the new financial five-year plan in a September 27 commentary, targeting a modern financial system by 2030.4Sep 27 · QiushiWinter gas supply.
Energy administration convened producers on winter gas supply, ordering underground storage filled and coastal terminals kept at high levels amid Middle East turmoil.5Sep 28 · Energy Admin.Washington summit.
Readout of Xi's White House talks records agreement on continued artificial-intelligence dialogue and mutual backing to host this year's Asia-Pacific and Group of Twenty summits.6Sep 25 · Commerce MinistryFuel price cap.
Central planners again capped the pass-through of rising crude prices, letting gasoline climb 395 yuan per tonne instead of the formula's 830.7Sep 24 · Planning CommissionState-firm chairman expelled.
The former Party secretary and chairman of state-owned China Resources Recycling Group was expelled from the Party and from public office over bribery.8Sep 24 · Discipline CommissionJapan rebuked.
Foreign ministry accused Japan of denying its wartime history and accelerating rearmament after Tokyo asked the United Nations to drop its “enemy state” clauses.9Sep 23 · Foreign Ministry
Voices
“China and the United States are both artificial intelligence powers. We have competition, but we can also cooperate, each playing to its strengths rather than guarding against the other.”
President Xi Jinping, White House talks · Sep 246
“Finance cannot circulate within itself or profit from idle churn; taking root in the real economy is its very foundation.”
Qiushi commentary on the financial five-year plan · Sep 274
“Compared with what Japan says, the international community is more concerned with what Japan does.”
Foreign Ministry Spokesperson Guo Jiakun · Sep 239
“Government bodies, public institutions and large enterprises shall pay small and medium enterprises in cash, and may not substitute commercial drafts or electronic receivable vouchers.”
State Council General Office, Circular 24 of 2026 · Sep 253
“All units must raise their political standing, shoulder the supply-guarantee responsibility, and ensure gas supply is ample and prices stable through the winter peak.”
National Energy Administration, winter supply meeting · Sep 215
“He lost his ideals and convictions, betrayed his original mission, and turned public power into a tool for private gain.”
Central Commission for Discipline Inspection, on Liu Yu · Sep 248
Sources
- Ministry of Commerce, “Commerce Ministry releases details of the China-U.S. Trade Council and the ‘30 billion for 30 billion’ reciprocal tariff-reduction framework” (商务部公布中美贸易理事会和“300亿对300亿”对等降税框架有关情况), September 28, 2026. mofcom.gov.cn/xwfb/rcxwfb/…/trade-council-tariff-framework
- National Bureau of Statistics, “Profits of industrial enterprises above designated size rose 15.7% in January-August 2026” (2026年1—8月份全国规模以上工业企业利润增长15.7%), September 28, 2026. stats.gov.cn/sj/zxfb/…/industrial-profits-jan-aug
- State Council General Office, “Circular on strengthening governance of the difficulty small and medium enterprises face in collecting payment” (国务院办公厅关于加强中小企业回款难问题治理有关工作的通知, 国办发〔2026〕24号), September 25, 2026. gov.cn/zhengce/content/…/sme-payment-circular
- Qiushi, “Systematic planning to consolidate the foundations of a financial power” (系统谋划夯实金融强国根基), September 27, 2026. qstheory.cn/20260927/…/financial-power-plan
- National Energy Administration, “Special meeting convened to assess natural-gas supply for the 2026-2027 heating season” (国家能源局组织召开2026—2027年采暖季天然气保供形势研判专题会议), September 28, 2026. nea.gov.cn/20260928/…/winter-gas-supply-meeting
- Ministry of Commerce (Xinhua), “Xi Jinping holds talks with U.S. President Trump” (习近平同美国总统特朗普会谈), September 25, 2026. mofcom.gov.cn/xwfb/ldrhd/…/xi-trump-talks
- National Development and Reform Commission, “State continues price control; refined-oil prices adjusted” (2026年9月24日国家继续实施调控，成品油价格适当调整), September 24, 2026. ndrc.gov.cn/xwdt/xwfb/…/refined-oil-price-adjustment
- Central Commission for Discipline Inspection, “Liu Yu, former Party secretary and chairman of China Resources Recycling Group, expelled from the Party and from public office” (中国资源循环集团有限公司原党委书记、董事长刘宇被开除党籍和公职), September 24, 2026. ccdi.gov.cn/yaowenn/…/liu-yu-expelled
- Ministry of Foreign Affairs, “Regular press conference held by spokesperson Guo Jiakun” (2026年9月23日外交部发言人郭嘉昆主持例行记者会), September 23, 2026. mfa.gov.cn/wjdt/fyrbt/…/press-conference-sep-23