As of May 31, 2025, China is making headlines globally with history-making progress in economics, space, diplomacy, and sport. Below are the most trending news that has emerged from the world's second-largest economy — and what this means for China and the world.
China Demands Auto Industry Price Wars to Stop
China's Ministry of Industry and Information Technology called for a stop to the price wars in the domestic automobile market. Players like BYD reduced prices in order to grab market share, and others like Geely and Chery followed suit. The government believes this bottom-fishing creates long-term unsustainability in the industry.
The authorities are currently working with the police to crack down on unfair competition, and officials are emphasizing there are \"no winners in a price war."
China Launches New Global Mediation Organization
In a surprise diplomatic move, China launched the International Organization for Mediation (IOMed) in Hong Kong, backed by over 30 countries including Pakistan, Indonesia, Belarus, and Cuba. As opposed to traditional courts, this new institution promotes dialogue-based conflict resolution without resorting to legal coercion.
Chinese Foreign Minister Wang Yi labelled the move as a shift towards peaceful, non-zero-sum diplomacy, a response to the increasing intricacy of international conflicts.
Tianwen-2: China's Ambitious Space Mission
China's Tianwen-2 mission, launched on May 28, 2025, is headed towards a dual-destination mission: first, to bring back samples from a near-Earth asteroid, and then to explore a distant comet. This mission can help China become a leader in planetary science and sample-return technology, following its successful moon missions.
This is part of China's ambition for long-term control of deep space exploration.
China Aims at 5% GDP Growth Amid Global Uncertainty
Premier Li Qiang announced China is targeting a 5% GDP growth in 2025. This is amidst rising trade tensions with the United States, which has placed new tariffs on Chinese exports. The government will create more than 12 million new urban jobs, increase public investment, and stimulate domestic consumption.
China is confident of maintaining macroeconomic stability as well as employment growth despite global headwinds.
Full details on Channel News Asia
Harbin Shines at the 2025 Asian Winter Games
The Chinese northern metropolis of Harbin successfully hosted the 9th Asian Winter Games from February 7 to 14, with 1,222 competitors from 34 countries participating in 64 events. Sports such as figure skating, biathlon, and ski jumping brought global notice to Harbin's first-world amenities and winter sports heritage.
It's the second time Harbin is hosting the games, making it a winter sports capital prior to China's next Olympic ambitions.
Final Thoughts
From launching an international diplomatic phase to a mission to the comets and asteroids, China continues to hog the headlines with calculated steps affecting its own citizens as well as the world at large. Throughout the year, expect China to be at the center of discussion surrounding economic recovery, international cooperation, and space exploration.
Keep reading for more on China's evolving position in the world.