China

Xinhua | English | News | Jan. 23, 2026 | Natural Disasters

A 5.1-magnitude earthquake struck Qiaojia County in Yunnan Province, China, on Monday evening at 7:32 p.m., occurring at a depth of 10 kilometers. The quake damaged over 1,900 residential houses and eight school buildings, mostly causing minor cracks. No casualties or building collapses were reported.

The earthquake also caused significant infrastructure damage, including 466 slope collapses and rockfalls on roads, 483 road surface damages, and 19 mountain fissures that do not threaten residential safety or public transportation. Additionally, 544 water conservancy facilities, 270 production water cellars or pools, and 178 water supply pipeline locations were damaged.

Local authorities have relocated and accommodated 334 residents from 147 households, ensuring their basic needs such as food, water, heating, and shelter. Post-disaster recovery and reconstruction efforts are planned as the next step. The China Earthquake Administration activated a Level-III emergency response and sent teams to assist with relief efforts.

Xinhua | English | News | Jan. 23, 2026 | Regulation

China's Ministry of Finance issued a notice on January 21, 2026, to curb excessively low bidding in government procurement, effective February 1, 2026. The measure aims to reduce involution-style competition and promote a healthy market environment where quality is rewarded with fair pricing.

The notice requires procuring entities to set reasonable price ceilings and configure appropriate procurement packages to support competitive bidding. Financial authorities will oversee bid evaluations, and if evaluation committees fail to properly review abnormally low bids, corrective actions will be taken, including legal accountability for responsible experts.

Procurement entities are also mandated to ensure performance acceptance procedures comply with legal standards, with thorough reviews of all technical and commercial contract requirements during inspections and complaint handling.

Xinhua | English | News | Jan. 23, 2026 | UndeterminedEconomic Growth

China's economy showed strong resilience and vitality in 2025, achieving a 5-percent growth despite a complex domestic and international environment, according to Asif Cheema, Asian Development Bank's (ADB) country director for China. The ADB revised its 2025 growth forecast upward in December, reflecting confidence in China's economic trajectory. The growth was driven by robust export performance and active industrial sectors, notably in high-tech and new energy industries.

In 2025, China ranked among the top 10 of the Global Innovation Index and surpassed the OECD average with an R&D spending intensity of 2.8 percent. Cheema highlighted "resilience" and "innovation" as key attributes of China's economy, citing rapid progress in artificial intelligence (AI) research and patenting. AI's integration with traditional industries is boosting productivity and fueling significant corporate revenue growth, positioning AI as a strong engine of economic expansion.

Cheema also praised China's macroeconomic policies aimed at improving productivity, enhancing social security to stimulate domestic consumption, and further opening the economy. Foreign investor confidence increased sharply, with offshore inflows into Chinese stocks reaching 50.6 billion U.S. dollars in the first ten months of 2025, up significantly from 11.4 billion dollars for all of 2024.

Looking ahead, Cheema expressed optimism about China's economic outlook, emphasizing stability and sustainable growth through continued efforts to boost domestic consumption and high-tech sectors. As the world’s second-largest economy and largest exporter, China plays a vital role in the global economy by fostering job creation, economic opportunities, and technology transfers through both trade and overseas investments.