tag

Elise Mertens stunned former champion Iga Swiatek 7-6(0) 6-3 on Friday to reach the China Open semi-finals, continuing her impressive run in Beijing after also eliminating American third seed Coco Gauff earlier in the week.The 30-year-old Belgian, ranked 19th in the world, produced a composed display to secure back-to-back victories over Grand Slam champions and advance to just the third WTA 1000 semi-final of her career and her first since 2021.Mertens seized control by dominating the opening-set tiebreak without dropping a point and carried that momentum into the second set, breaking Swiatek and completing one of the biggest upsets of the tournament.She will next face home favourite Zheng Qinwen, who defeated sixth seed Elina Svitolina 6-3 7-6(6) earlier in the day to book her place in the last four.Playing on a wildcard, Zheng took charge early by breaking Svitolina three times in the opening set. The Ukrainian world number seven responded strongly in the second, raising her level to force a tiebreak.Zheng recovered from a sluggish start in the breaker, reeling off four consecutive points to regain the initiative before sealing victory in one hour and 47 minutes.Svitolina competed well throughout but was unable to withstand Zheng's attacking game as the Olympic champion consistently forced the pace and seized the initiative in crucial moments."I'm just happy to have a lot of winners during the match, and at the end, be brave in important moments," Zheng told reporters.The victory took Zheng to her fourth career WTA 1000 semi-final and her third on Chinese soil, following appearances in Beijing and Wuhan in 2024."Truthfully, because I really wanted to grab this win, I was really nervous," the 24-year-old told the crowd."I played really aggressive in important moments," she said, adding that her opponent "raised her level" in a tight second set.Svitolina made just 13 unforced errors over the one-hour-and-47-minute match, but was outgunned by 48 winners from the 2024 Olympic champion.Mertens, the world number 19, praised her opponent."I tried to be consistent. She's a great player, so I had to really push myself," said Mertens, who had lost both of her two previous matches against eighth-seeded Swiatek."It was really nerve-wracking at the end but I kept myself calm... I just can't believe it."The 30-year-old was the evening's better technician, making just 11 unforced errors to Swiatek's 34 across the one-hour-and-50-minute affair.Mertens had surged into her singles quarter-final after beating third-seeded Coco Gauff, also in straight sets. 

Coco Gauff said online racist abuse had left her feeling exhausted after she went out of the China Open with her loss to Elise Mertens on Wednesday.The American world number four, who is Black, turned in an uncharacteristically listless performance in Beijing, double-faulting eight times as she went down 6-3, 6-3 to her Belgian opponent.Gauff, 22, was playing a day after she called out the "insane" amount of abuse she had received on the internet following her win over Chinese teenager Sun Xinran in the previous round."It has been kind of draining. I'm not going to lie," Gauff said of the impact of the online comments."But I just turn off my phone and move on. There's nothing you can do."Asked about the match, she said: "I think I just didn't play well. I think I wasn't moving well."There were a lot of things I didn't do well. I thought Elise played well on the bigger points."During her previous match in Beijing, against Sun, Gauff requested a video review over flickering LED lights on the stadium's advertising hoardings. BOOS FROM THE CROWDThe move prompted some boos from the crowd. The umpire agreed to have the point replayed, and Gauff went on to win 7-5, 6-1.Early on Tuesday, Gauff wrote on X: "Hey everyone, you can dislike me or disagree about what happened without being racist."She was responding to a post that contained a racial slur."The amount of racist comments and messages I've received in the last few hours is insane," she wrote.Gauff also clarified that she challenged the point before Sun had returned the ball, when she noticed the lights flicker for a second time.Asked about the incident, a spokesperson for the Women's Tennis Association, the global governing body, said they were "appalled by the racial abuse directed at Coco Gauff and are in contact with her to offer our full support".It added in a statement to AFP that there was "no place for racism, discrimination, or abuse in tennis", and that it was "seeking action" against the abusive content.Gauff, who won the Beijing title in 2024 and made the semi-finals last year, is a popular player among fans at the tournament itself.A group of supporters in the largely empty stadium tried to encourage her into a comeback on Wednesday. 'ALL TOO FAST'Mertens was undeterred as she punched her ticket for a quarter-final clash against Iga Swiatek.The world number 19 called Gauff an "incredible player", adding: "I knew it was going to be a very tough match".She dedicated her win to her coach, who is also her boyfriend.Earlier, Swiatek swept aside American teenager Iva Jovic 6-1, 6-3 in one hour and 35 minutes.In the night session, China's Zheng Qinwen pulled off another three-set victory to dispatch Alina Charaeva 6-1, 2-6, 6-4, ending a breakout week for the 118th-ranked player in which she beat freshly minted world number one Elena Rybakina.The match was not without disturbance, though, with Zheng gesturing with her racquet towards shuffling spectators during the second set, and the umpire stopping play during the third to replace a broken hook for the net."I started pretty well... but maybe during the second set I think I felt myself decline, also with the temperature getting colder and colder and the ball speed dropping," Zheng said afterwards."I'm really grateful," she told the crowd, tearing up as the on-court interviewer reminded fans it was the day before Zheng's 24th birthday."All I can say is that it's all come too fast," Zheng said, smiling as the crowd wished her "happy birthday" in unison.Zheng, the current world number 54, will face either Ukraine's Elina Svitolina, the sixth seed, or American Ann Li in the quarter-final. 

Tennis great Novak Djokovic credited his "never-die spirit" for carrying him to the 102nd title of his career as he won the China Open on Tuesday when his opponent Alex de Minaur retired injured from the final.With the win, the 39-year-old Serbian extended a perfect record to 34 wins in as many matches for his seventh title in Beijing - his first since 2015.Djokovic said afterwards that in more than two decades as a professional player, "the grit and the dedication and the kind of never-die spirit that really is always with me" have carried him through.Tennis is "quite a cruel sport" with players competing in knock-out tournaments year-round, Djokovic told reporters, adding that the stakes and pressure of performing in front of fans made the sport "so demanding and so special"."You can feel so much weight on your shoulders, but it is what I have been destined to do," he said.In front of a jam-packed stadium, Djokovic won the first set in the tie-break 7-6 (7/3) and was down a game in the second set when the Australian ended the match early."I always want to visualise myself with the trophy, particularly here in Beijing," Djokovic said during the trophy ceremony."But I was also quite aware that reality is a little bit different these days," he said, adding that it had been a challenging year with "physical and health issues"."I was just trying to find the good feeling on the court," he said.The first set was a physical battle that lasted more than one hour, and both men needed medical timeouts before the second.De Minaur, the world number nine, won the first game of the second set before retiring due to a left adductor strain.The 27-year-old had walked back onto the court after his medical timeout with a white wrap around his left thigh."I don't feel great," de Minaur told the crowd afterwards."I want to say sorry to the amazing fans that came to watch... I didn't want to finish like this."De Minaur advanced to the final after his opponent Hubert Hurkacz retired injured from their semi-final on Monday, while Djokovic moved through when Daniil Medvedev was disqualified for hitting a fan with a ball.But Djokovic, a 24-time Grand Slam champion, put on a valiant show to lift the trophy, ousting top seed Alexander Zverev in the quarter-final after defeating home hope Bu Yunchaokete in a demanding three-set match.It means Djokovic will end the season with at least one title for the 21st consecutive year, and as the oldest man to win a singles final after Ken Rosewall in Hong Kong in 1977 at age 43. 'REALLY GRATEFUL' In the women's draw, Karolina Muchova beat former world number one Naomi Osaka on her ninth match point to reach the quarter-finals, triumphant in a tense tie-break.Muchova, the seventh seed, overcame 50 unforced errors across the two-hour-and-52-minute match to beat Osaka 7-5, 1-6, 7-6 (9/7).Osaka, who represents Japan, saved eight match points but could not get past Muchova's match-winning volley."I was shaking. I'm happy I made the last volley... Naomi could be standing here. It's me, and I'm really grateful for it," the 30-year-old Czech player told the crowd.She next faces compatriot Nikola Bartunkova.Earlier, Russia's Mirra Andreeva beat Ukraine's Daria Snigur 6-2, 6-2 to book her quarter-final spot against fellow Russian Ekaterina Alexandrova.Alexandrova, ranked 28th, upset Wimbledon champion Linda Noskova 6-2, 6-2, ending the Czech player's bid to return to the Beijing final that she reached last year. 

World No.1 Jannik Sinner delayed his return to the courts when he withdrew from next week's China Open in Beijing on Friday having been out of action since his Wimbledon title in July due to a right knee injury."I won't be able to play in Beijing this year. My knee is not there where I would like it to be and I'm not ready to compete yet but I will do everything possible to be there as soon as I can," the Italian defending champion said on X.The five-time Grand Slam winner has not played since winning Wimbledon on July 12, pulling out of the US Open last month.Sinner, 25, had been dominating the 2026 season with an impressive record of 44 wins against three losses and six titles won, including Wimbledon.However, he suffered a major disappointment at the French Open, where he arrived as the overwhelming favourite but crashed out in the second round after suffering in a heatwave. ZVEREV'S CHANCE TO GET NO.1 RANKINGThe absence of the tour's top player in Beijing increases the chances for his closest rival, Alexander Zverev, to move to the top of the ATP rankings for the first time by the end of the season.At the moment, 1,810 points separate the world's top two players. But that gap will shrink by at least 440 points in the next ATP rankings.Sinner also has significantly more points to defend than the German between now and the end of the season, since in 2025 he won the ATP 500 events in Beijing and Vienna, the Paris Masters 1000 and the ATP Finals in Turin, which award 1,500 points to the winner.Zverev, 29, was far less effective at the end of last season and will therefore be able to rack up more points than Sinner in the year's final tournaments.Having won the first two Grand Slam titles of his career in 2026, at Roland Garros and the US Open, Zverev reached the semi-finals of the Australian Open and the final at Wimbledon, the German is enjoying the best season of his career.He is entered in tournaments in Beijing, Shanghai and Vienna over the coming weeks. 

 Beijing has accused Palau of "hype" over its Pacific missile test, after the host of the regional Pacific Islands Forum yesterday urged the group to condemn China's launch, on the final day of a summit dominated by a dispute between Beijing and Taiwan. Surangel Whipps Jr, who is also the president of Palau, said he was hopeful the issue would be mentioned in a joint statement by the 18-nation bloc. "That's definitely something that we'll be discussing today, and a unified Pacific voice is critical in getting Beijing to respect sovereignty, to respect transparency, and to be a responsible partner," he told a news conference. "We don't want our backyard, our homes, to be threatened and really disrespected." The July ballistic missile test by Beijing - its first known launch in the Pacific since September 2024 - came hours after Fiji and Australia signed a major defence treaty, marking Fiji's first ever alliance. A meeting of Pacific Islands foreign ministers last month failed to agree to a statement condemning the test, despite individual leaders expressing alarm, publicly and privately, about militarisation of the region. Beijing has said the test was conducted safely. Yesterday, its foreign ministry reiterated that position and said it had never engaged in military expansion. "Palau's repeated hype and attempts to manipulate the positions of other Pacific Islands forum member states are malicious and will not succeed," spokesman Guo Jiakun said at a regular press briefing. "We are willing to work with South Pacific countries to contribute to maintaining peace, stability and prosperity in the region." This year's meeting of the Pacific Islands Forum has been overshadowed by China's objections to the presence of Taiwan at the summit, saying the island was not qualified to attend. Summit host Palau is one of three Pacific Island countries with official diplomatic ties to Taiwan. China claims democratically governed Taiwan as its own territory and has never renounced the use of force to bring the island under its control. Taiwan strongly objects to China’s sovereignty claims and says only the island’s people can decide their future. Tensions between Beijing and Taipei have featured prominently at the annual meeting of the forum, which counts Australia, New Zealand and Pacific island nations as members. Some Pacific leaders have stayed away from the summit, with the prime ministers of Fiji, Vanuatu, Samoa and the Solomon Islands and the president of Kiribati sending low-ranking ministers instead, raising concerns the absences could undermine the outcome of the meeting. New Zealand Foreign Minister Winston Peters said on Tuesday he was "highly suspicious" about whether foreign interference might be behind some of the leaders' absences, without directly accusing Beijing. China's foreign ministry spokesperson said Peters' comments were unfounded. 

The first solo exhibition in India by Chinese dissident artist Ai Weiwei opened Thursday, featuring sculpture, installation and mixed media spanning his career, as well as his “homage” to the country. The son of a revered poet, 68-year-old Ai is perhaps China’s best-known modern artist. He helped design the famous “Bird’s Nest” stadium for the 2008 Beijing Olympics but fell out of favour after criticising the Chinese government and was imprisoned for 81 days in 2011. He eventually left for Germany four years later. His show at New Delhi’s Nature Morte gallery comes as India’s relations ease with neighbouring China, although the world’s two most populous nations remain strategic rivals in the region. “This is my first exhibition in India... although there are only a dozen of my artworks, it covers several key points that trace more than 20 years,” the artist, who did not attend the opening, said in a statement. Gallery co-director Aparajita Jain said the show aimed to broaden understanding and artistic exchange. “We’re simply a space for expression - a place for conversation where we can learn about art practices from around the world and share histories,” she said. The exhibition includes Ai’s large-scale Lego compositions “Surfing” and “Water Lilies”, alongside works made from porcelain, stone and even buttons. The exhibition includes three pieces made “as a homage to India”, Jain added - toy-brick works based on historic Indian paintings. Visual arts student Disha Sharma, 20, travelled 90kms from the city of Rohtak to see the opening. “It’s not art that you immediately understand,” said Sharma. “It makes you think.”Srishti Rana Menon, an artist based at Nature Morte, said that seeing the work in India was exciting. 

Beijing's new chip self-sufficiency mandate to benefit domestic suppliersChinese chipmakers must use 50% domestically made equipment for adding new capacityChina has long been dependent on foreign chipmaking equipmentBut US export curbs have forced Chinese fabs to go domestic China is requiring chipmakers to use at least 50% domestically made equipment for adding new capacity, three people familiar with ‌the matter said, as Beijing pushes to build a self-sufficient semiconductor supply chain. The rule is not publicly documented, but ‌chipmakers seeking state approval to build or expand ‍their plants have been told by authorities in recent months that they must prove through procurement tenders that at least half their equipment will be Chinese-made, the people told Reuters. The ⁠mandate is one of the most significant measures Beijing ⁠has introduced to wean itself off reliance on foreign technology, a push that gathered pace after the US tightened technology export restrictions in 2023, banning ‍sales of advanced AI chips and semiconductor equipment to China.While those US export restrictions blocked the sale of some of the most advanced tools, the 50% rule is leading Chinese manufacturers to choose domestic suppliers even in areas where foreign equipment from the US, Japan, South Korea and Europe remain available.Applications failing the threshold are typically rejected, though authorities grant flexibility depending on supply constraints, the people said. The requirements are relaxed for advanced chip production lines, where domestically developed equipment is not yet fully available."Authorities prefer if it is much higher than 50%," one source told Reuters. "Eventually they are aiming for the plants to use 100% domestic equipment."China's industry ministry did not ‌respond to a request for comment. The sources did not wish to be identified as the measure is not public.China's President Xi Jinping has been calling for a "whole nation" effort to build a fully self-sufficient domestic semiconductor supply chain that involves thousands of engineers and scientists at companies and research ‍centres nationwide. The effort is being made across ⁠the wide supply-chain spectrum. Reuters reported ‌earlier this month that Chinese scientists are working on a prototype of a machine capable of producing cutting-edge chips, an outcome that Washington has spent years trying to prevent."Before, domestic fabs like SMIC would prefer US equipment and would not really give Chinese firms a chance," a former employee at local equipment maker Naura Technology said, referring to the Semiconductor Manufacturing International Corp. "But that changed starting with the 2023 U.S export restrictions, when Chinese fabs had no choice but to work with domestic suppliers."State-affiliated entities placed a record 421 orders for domestic lithography machines and parts this year worth around 850mn yuan, according to publicly available procurement data, signalling a surge in demand for locally developed technologies. To support the local chip supply chain, Beijing has also poured hundreds of billions of yuan into its semiconductor sector through the "Big Fund", which established a third phase in 2024 with 344bn yuan ($49bn) in capital.The policy is already yielding results, including in areas such as etching, a critical chip manufacturing step that involves removing materials ​from silicon wafers to carve out intricate transistor patterns, ‌sources said.China's largest chip equipment group, Naura, is testing its etching tools on a cutting-edge 7nm (nanometre) production line of SMIC, two sources said. The early-stage milestone, which comes after Naura recently deployed etching tools ⁠on 14nm successfully, demonstrates how quickly domestic suppliers are advancing."Naura's etching ‍results have been accelerated by the government requiring fabs to use at least 50% domestic equipment," one of the people told Reuters, adding that it was forcing the company to rapidly improve.Advanced etching tools had been predominantly supplied in China by foreign firms such as Lam Research and Tokyo Electron, but are now being partially replaced by Naura and smaller rival Advanced Micro-Fabrication Equipment (AMEC), sources say.Naura has also proven a key partner for Chinese memory chipmakers, supplying etching tools for advanced chips with more than 300 layers. It developed electrostatic chucks — devices that hold wafers during processing — ​to replace worn parts in Lam Research equipment that the company could no longer service after the 2023 restrictions, sources said.Naura, AMEC, YTMC, SMIC, Lam Research, and Tokyo Electron did not respond to requests for comment.China's progress is being viewed with concern by global competitors, as foreign suppliers are squeezed out of the China market.Naura filed a record 779 patents in 2025, more than double what it filed in 2020 and 2021, while AMEC filed 259, according to Anaqua's AcclaimIP database, and verified by Reuters.That's also translating into strong financial results. Naura's revenue for the first half of 2025 jumped 30% to 16bn yuan. AMEC reported a 44% jump in first-half revenue to 5bn yuan. Analysts estimate that China has now reached roughly 50% self-sufficiency in photoresist-removal and cleaning equipment, a market previously dominated by Japanese firms, but now ⁠locally led by Naura."The domestic equipment market will be dominated by two to three major manufacturers, and Naura is definitely one of them," said a separate source. 

China successfully launched a new group of low Earth orbit satellites from the Hainan commercial spacecraft launch site in the southern island province of Hainan on Monday.The satellite group, the 13th of its kind that will constitute an internet constellation, was launched aboard a Long March-12 carrier rocket, according to China's news agency (Xinhua).The satellites entered the preset orbit successfully.

Hamad International Airport has signed a memorandum of understanding (MoU) with Beijing Daxing International Airport (PKX).The partnership advances Qatar–China co-operation and expands global air connectivity via Doha.The ‘sister airport’ agreement, signed at Beijing Daxing’s terminal, built to shape the next generation of air travel, complements Qatar Airways’ partnership with China Southern Airlines and the MoU between the Qatar Civil Aviation Authority (QCAA) and the Civil Aviation Administration of China (CAAC).Together, these moves highlight aviation’s pivotal role in driving economic growth, cultural exchange, and rising travel demand.Under the MoU, MATAR, the Qatar Company for Airports Management and Operation, and Beijing Capital International Airport Group Company, operator of Beijing Daxing, will pursue joint projects to enhance both passenger and cargo flows. Collaboration will focus on operations, technology, service design, and innovation, positioning both airports as leaders in hub excellence.Hamad International Airport connects to nine Chinese cities, namely Beijing, Shanghai, Guangzhou, Shenzhen, Chongqing, Hangzhou, Xiamen, Chengdu as well as Hong Kong.These cities are connected to more than 120 global destinations through Doha, reinforcing Qatar’s airport as the preferred Middle East hub for Chinese passengers.Hamad al-Khater, Chief Operating Officer at Hamad International Airport, said: “This opportunity affirms Hamad International Airport key role in driving aviation diplomacy, and advancing Qatar’s partnership with China. By collaborating with Beijing Daxing, one of the world’s most forward-looking airports, we are anticipating the evolving needs of tomorrow’s travellers and shaping the future of global connectivity, with Doha as China’s trusted gateway to the Middle East and beyond.”Zhang Lin, CEO and President of Beijing Daxing International Airport, said: “As two important international aviation hubs in the world, Daxing Airport and Hamad Airport have formally established sister airport relations, and will start in-depth cooperation under the framework of the Belt and Road Initiative, work together to create a "golden channel" for airline network, build a "green corridor" for freight logistics, promote the "smart innovation" in operation and management, and continuously enhance the global competitiveness of the two hubs, thus becoming a deepening cultural exchange and cooperation between China and Qatar.”The sister airport agreement builds upon a series of successful initiatives between Qatar and China. Qatar Airways’ strategic partnerships with China Southern Airlines and Xiamen Airlines have expanded connectivity between both nations.A testament to growing ties between Qatar and China, Qatar Airways recently announced the expansion of its codeshare partnership with China Southern Airlines.Starting October 16, Qatar Airways will share code on China Southern’s three weekly direct flights between Beijing Daxing and Doha.Similarly, China Southern will be expanding its ‘CZ’ code on Qatar Airways-operated flights beyond Doha to 15 destinations across Africa, Europe, and the Middle East. China Southern will further extend its code to flights between Doha and four major Chinese cities of Chengdu Tianfu, Chongqing, Hangzhou, and Shanghai, subject to Chinese government approvals.Beijing Daxing marks the second Chinese gateway to be served with non-stop flights operated by China Southern Airlines. Beijing also connects with Doha through Qatar Airways’ daily flight along with Xiamen Airlines’ daily flight.With this frequency increase and codeshare expansion, Qatar Airways and its two strategic partners, China Southern Airlines and Xiamen Airlines, will now offer 64 weekly flights across eight gateways in Greater China.Besides aviation, Qatar and China have cultivated a strong and growing partnership on cultural and educational fronts, reflecting deep mutual respect and shared aspirations.The China Embassy in Doha, in collaboration with Hamad Bin Khalifa University, have fostered academic collaboration and language learning programmes.On the cultural front, Qatar Museums and the National Museum of China are working together on joint exhibitions and cultural showcases. These joint efforts reaffirm the commitment of both nations to strengthening bilateral relations and expanding long-term strategic cooperation across key sectors.

A delegation from the Qatari Sheikh Hamad Award for Translation and International Understanding, participated in an academic symposium titled "The Reality and Challenges of the Translation Movement between Arabic and Chinese" which was held on Sept 18 at Beijing Foreign Studies University.The symposium was also attended by representatives from the Qatari embassy in China, and a group of experts and academics from several Chinese universities. Research institutions, and publishing institutions participated in the symposium, including Peking University, the University of International Business and Economics, the Beijing Language and Culture University, Guangzhou University, Ningxia University, and Beijing Foreign Studies University. The participants exchanged views and ideas on issues of cultural exchange and translation between China and the Arab world.In his opening remarks, Professor Liu Xinlu, Vice President of Beijing Foreign Studies University, noted that the university's College of Arabic Language, as the main implementing agency of the Belt and Road China-Arab Friendship Library Project launched in 2016, has completed numerous translations of classic works between Chinese and Arabic. Thus, making it an important platform for promoting cultural exchange and rapprochement between peoples. He emphasized that in light of the complexities and fluctuations of today's global situation, dialogue between civilizations has become more urgent than ever, with language as a bridge and translation as a means gaining critical importance in promoting mutual understanding between different civilizations.Abdulrahman al-Marri, representative of the Sheikh Hamad Award for Translation and International Understanding, expressed his great appreciation for the importance of this symposium. He explained that the award aims to promote the values of pluralism and openness, and to support dialogue and understanding between civilizations, and has already become the most influential award in the field of translation in the Arab world.He also expressed his hope that this symposium would provide an opportunity to deepen cooperation between Chinese and Arab researchers in the fields of translation and culture, and expressed his aspiration to enhance exchange and cooperation with the Beijing Foreign Studies University.The symposium's proceedings covered two main themes: "Translation and Introduction of Chinese and Arabic Classics" and "Translation and Chinese and Arab Civilizations." The researchers discussed the history, reality, and challenges of the mutual translation of classical literary and cultural works between the two sides from various perspectives.They also addressed the role of translation in supporting educational development, intellectual convergence, and cultural progress, by discussing issues of teaching Arabic translation, Sino-Arab cultural exchange, and the role of education support funds. The symposium witnessed the participation of more than 100 Arabic language professors and students from several universities in Beijing.It is worth noting that the Sheikh Hamad Award for Translation and International Understanding aims to consolidate the values of pluralism and openness, encourage knowledge and dialogue, promote international understanding, and advance the level of translation between Arabic and other languages. It also honours translators, cultural institutions, and publishing houses that have made outstanding contributions to promoting friendship and co-operation between the Arab peoples and the peoples of the world. Professor Xu Qingguo (Bassam) of Beijing Foreign Studies University is the first Chinese scholar to receive this award. The award committee has announced that it will again award the prize to translators working in the field of Chinese-Arabic translation in 2026.

Chinese Vice Premier He Lifeng stressed that China's resolve to safeguard its legitimate rights and interests is unwavering, adding that Beijing will resolutely safeguard its national interests and the legitimate rights and interests of Chinese-funded enterprises abroad.During his meeting in Madrid with US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer, Lifeng explained that China and the US will benefit from cooperation and lose from confrontation.During the talks, the two sides held in-depth and constructive discussions on economic and trade issues of common concern, according to the Chinese vice premier. The two sides reached a basic framework consensus on resolving TikTok-related issues through cooperation, reducing investment barriers, and enhancing relevant economic and trade cooperation.He stressed that the two will consult on relevant outcome documents and complete their respective domestic approval procedures.The US side called on China to work alongside one another and lift relevant restrictions as soon as possible. It also called for concrete actions to preserve the hard-won achievements of the talks and continue to create a favorable environment for the stability of China-US economic and trade relations.The US added that during the talks, both sides acknowledged that stable economic and trade relations between China and the US are of great importance to both countries and have a significant impact on global economic stability and development.The two sides will continue to implement the important consensus reached by the heads of state in their phone conversations, as well as the outcomes of previous economic and trade talks, make full use of the role of the China-US economic and trade consultation mechanism, continue to enhance mutual understanding, resolve differences, strengthen cooperation, and strive for more win-win results, thus promoting healthy, stable, and sustainable development of bilateral economic and trade relations and injecting greater stability into the global economy.

As the oil market moves closer to a long-anticipated glut, traders are closely watching buying from China to see if it will absorb an excess that the world’s crude producing nations are set to pump.Earlier this year, China piled into the crude market to snap up millions of barrels, including some that went into its strategic storage. The buildup has since slowed down as the nation’s domestic demand picked up, but with expectations that Beijing will continue to amass barrels, its next steps are seen as critical.With China’s vast network of oil tank farms still a little over 50% full, according to OilX data, traders say another spree would limit the damage from a long-anticipated glut in other parts of the globe. That’s significant because if China’s buying is elevated, it will prevent a buildup of supply in a narrow set of hubs in Midwestern America and Northwest Europe, limiting how far prices can fall.“The key question is where stockbuilds will turn up,” HSBC Holdings Plc analysts including Kim Fustier wrote this week. “If China continues to absorb excess oil volumes via its strategic reserves, as it did in in the second quarter, stockbuilds in the OECD could be muted.”The global market’s capacity to absorb barrels will be among talking points when OPEC+ nations meet to discuss supply on Sunday. Saudi Arabia wants the group to accelerate the return of another tranche of halted output adding to concerns about a surplus that would depress prices but all options are on the table.About 10% of the nation’s crude stockpiling has been directed to its strategic petroleum reserves, according to Kayrros analyst Antoine Halff. There have also been additions to the country’s refining capacity, such as CNOOC Ltd’s Daxie plant, and the addition of new tank space.It’s also possible that Beijing wants to hold more barrels in storage given the heightened levels of geopolitical risks over the last few years, the Oxford Institute for Energy Studies wrote in a note.While China’s flagship crude futures contract was flashing a softer market over recent weeks, the world’s two main benchmark’s continued to suggest relatively tight supplies.That’s because inventory builds so far this year have avoided western hubs. In Cushing, Oklahoma, the tank farm of about 15 storage terminals that underpins the West Texas Intermediate futures contract, inventories have been repeatedly near multi-year seasonal lows this year.The International Energy Agency says that in the second quarter global oil stockpiles increased by the most since the third three months of 2020, when the global economy was still being ravaged by the Covid-19 pandemic. Over that period, stockpiles in the developed world climbed by 60,000 barrels a day, while expanding by more than 1mn barrels a day everywhere else.It’s still possible that prices will need to fall from current levels for China buy in a big way, though, according to Frederic Lasserre, head of research at Gunvor Group.“The last solver that everybody is talking about is China,” he said. “Not for runs, but because we’ve seen a recent trend of them being willing to build up crude barrels. But if you expect China to go back to stockpiling 1mn barrels a day, you need a big price drop to incentivise it.”Both inside and outside of China there’s plenty of space to store unwanted oil.Bank of America Corp wrote last month that there’s about a billion barrels of empty tank capacity available across the globe to fill with inventories, which could mean that markets avoid falling into a heavily bearish structure.There are signs that the surge in production is starting to come, though. Brazil’s output approached 4mn barrels a day for the first time over the summer, and a new field is due to start in the country before the end of the year. Guyana has moved from producing nothing to almost 1mn barrels a day and output in Canada’s oil heartland of Alberta hit a record in July.At the same time, despite concerns about a decline in US output, the Energy Information Administration has consistently revised oil supply estimates higher over the last few months.What traders are waiting for now, is for those increases to appear at key storage hubs.“When we look at OECD inventories we’re still at a relatively low level,” Nadia Martin Wiggen, a director at Svelland Capital, said in a Bloomberg TV interview. “Yes, there is this supply glut coming according to expectations, but we need to see that materialising.”