China’s foreign exchange reserves, the world’s largest, increased by $29.9 billion (0.9%) in August compared to the previous month and amounted to $3.322 trillion, the People’s Bank of China said in a statement. That’s the most since December 2015.
The yuan appreciated 0.9% against the U.S. currency last month. Meanwhile, the U.S. dollar fell 2.2% against a basket of major world currencies.
Gold reserves stood at 74.02 million ounces at the end of August, up from 73.96 million ounces a month earlier. The Chinese Central Bank bought precious metal for the tenth month in a row. In value terms, gold reserves reached $253.84 billion against $243.99 billion at the end of July.
The Chinese economy continues to maintain stable growth, showing resilience and vitality, which helps to keep the country’s foreign exchange reserves at a stable level, said the State Administration of Foreign Exchange Control of the People’s Republic of China.
China has taken a new step in the race for leadership in future communications technologies. Scientists from Peking University and City University of Hong Kong have developed the world’s first universal 6G chip, which is capable of delivering data transfer speeds of over 100 Gbps and operating at any frequency in the range from 0.5 to 115 GHz. This was reported by the South China Morning Post and Interesting Engineering, citing a publication in Nature magazine.
The finger-sized device (11×1.7 mm) allows you to download, for example, a 50 GB 8K video in a matter of seconds.
The modem uses a photon-electron architecture, which allows different frequency bands to be combined into a single system.
The development solves a key problem for future 6G networks: spectrum fragmentation. Currently, equipment is created separately for “low,” “medium,” and “millimeter” frequencies, which complicates implementation. The new chip is universal and can be used both in rural areas (for low-frequency coverage) and in megacities (for ultra-fast connections at high frequencies).
Prototypes that transmitted data at a speed of 100 Gbit/s over limited distances were previously demonstrated in Japan, and an experimental 6G network was launched in China in 2024. However, it is the Chinese universal modem that has covered the entire frequency range for the first time, making it unique.
The next step is to integrate the technology into compact USB-format modules and adapt it for smartphones, base stations, and Internet of Things devices. This will bring us closer to the mass adoption of 6G, which experts expect in the 2030s.
China is cementing its leadership in 6G development by offering the world a unique solution that could change the landscape of mobile technology. The breakthrough universal modem opens up opportunities for a digital revolution — from medicine to the entertainment industry.
China will take measures to reduce steel output in 2025-2026, Reuters writes, citing an informed source and an official document from the ministries of industry, environment and others it has consulted. According to the document, the world’s largest steel producer will also severely limit new capacity.
“The steel industry has faced overcapacity and insufficient effective demand, resulting in a supply-demand imbalance affecting the quality and efficiency of development,” the document said.
The document does not set production reduction targets. However, it notes, such reduction will be achieved by closing obsolete and inefficient furnaces and supporting the development of advanced enterprises.
At the same time, it plans to increase the industry’s value-added by 4% per year, invest in new technologies and encourage the use of steel in housing and infrastructure construction.
Beijing will also strengthen measures to ensure stability in the cost and supply of raw materials, including iron ore and coking coal, and take steps to strengthen the management of steel exports, the document said. An informed source confirmed the authenticity of the document and said it was the latest version.
German newspaper Die Welt, citing EU diplomats, reports that Chinese authorities have confirmed their readiness to participate in a peacekeeping contingent for Ukraine.
However, it is emphasized that the government in Beijing will be ready to do so “if the peacekeepers are deployed on the basis of a United Nations mandate.”
“In Brussels, Beijing’s plan has met with a mixed reaction. On the one hand, it is said that the inclusion of countries from the Global South, such as China, could make the deployment of foreign troops for peace monitoring more acceptable,” Die Welt writes.
“However, on the other hand,” the publication continues, “there is also a danger that China will primarily want to spy on Ukraine and take a clearly pro-Russian position instead of a neutral one in the event of a conflict,” said a senior EU diplomat familiar with the ongoing discussions.
China increased oil production by 1.3% in January-July compared to the same period last year, to 126.6 million tons, according to the State Statistical Office.
In July alone, production rose by 1.2% to 18.12 million tons.
Oil refining for the seven months totaled 424.68 million tons, up 2.6% from the same period in 2024. In July alone, it rose 8.9% to 63.06 million tons.
Natural gas production in the country in January-July increased by 6% and reached 152.5 billion cubic meters, according to the GSU report. Last month, production rose by 7.4% to 21.6 billion cubic meters.
In January-July of this year, Ukrainian mining companies reduced exports of iron ore raw materials (IORM) in physical terms by 8% compared to the same period last year, to 19 million 145,471 thousand tons from 20 million 803,661 thousand tons.
According to statistics released by the State Customs Service (SCS) on Tuesday, foreign currency earnings from exports of iron ore raw materials decreased by 20.3% during this period, to $1 billion 460.316 million from $1 billion 831.314 million.
Raw materials were exported mainly to China (43.67% of shipments in monetary terms), Slovakia (17.9%), and Poland (16.82%).
In addition, in January-July 2025, Ukraine imported raw materials worth $58 thousand in the amount of 86 tons from Italy (40.35%), the Netherlands (36.84%), and Norway (22.81%), while in the same period last year it imported 771 tons worth $208 thousand.
As reported, in 2024, Ukraine increased its exports of raw materials by 89.8% compared to 2023, to 33 million 699.722 thousand tons, and foreign exchange earnings grew by 58.7%, to $2 billion 803.223 million.
In 2024, Ukraine imported mineral resources worth $414,000 in a total volume of 2,042 tons, while in 2023, 250 tons of these raw materials were imported worth $135,000.
In 2023, Ukraine reduced exports of raw materials in physical terms by 26% compared to 2022, to 17 million 753.165 thousand tons. Foreign exchange earnings amounted to $1 billion 766.906 million (a decrease of 39.3%).
Raw materials worth $135,000 were imported, totaling 250 tons.
