China This Week: Five things you need to know (Jul. 12-18, 2025)
One Step Closer to China: A weekly dispatch from Beijing every Friday with insights you don’t want to miss.
Editor's note: Why have China-Australia ties "turned around"? What key messages emerged from the Shanghai Cooperation Organization (SCO) foreign ministers’ meeting, as the summit is scheduled for August 31–September 1? How should we understand the economic trend as China’s H1 performance beats market expectations and China-U.S. tensions temporarily ease? Meanwhile, China's Xixia Imperial Tombs, a testament to cultural fusion along the ancient Silk Road, have been inscribed as a UNESCO World Heritage Site. Check it out!
1. China-Australia Ties 'Turned Around' As Leaders Meet in Beijing
Chinese President Xi Jinping on July 15 highlighted the recent turnaround in China-Australia relations during a meeting with Australian Prime Minister Anthony Albanese, who is on a six-day, three-city official visit to China. On Tuesday, China and Australia signed a Memorandum of Understanding to implement and review their free trade agreement. Earlier on July 11, while meeting with business leaders in Shanghai, Albanese emphasized that booming trade with China means jobs and growth for Australia.
Read more:
Xi meets Australian PM in Beijing -Xinhua-
China, Australia strengthen green energy, tourism cooperation during Albanese’s official visit -Global Times-
Exclusive | How deals are trumping port dispute on Australian PM Albanese’s China visit -South China Morning Post-
2. Shanghai Cooperation Organization: Xi Meets Heads of Foreign Delegations Attending SCO Council of Foreign Ministers Meeting
Chinese President Xi Jinping met in Beijing on July 15 with foreign ministers and heads of standing bodies of the Shanghai Cooperation Organization (SCO), who are in China to attend the Council of Ministers of Foreign Affairs of SCO Member States. On the same day, Xi also held talks with Russian Foreign Minister Sergey Lavrov, reaffirming the strong momentum of the China-Russia comprehensive strategic partnership.
Chinese Foreign Minister Wang Yi announced that the SCO summit is set to be held in Tianjin from August 31 to September 1, noting that the Tianjin Summit will be the largest in SCO's development history. Wang also called on the SCO to work toward a more "equal and orderly" world, while criticizing "hegemonism" and "protectionism."
Read more:
Xi meets heads of foreign delegations attending SCO council of foreign ministers meeting -CGTN-
The Meeting of the Council of the Ministers of Foreign Affairs of the SCO Member States Held in Tianjin -Chinese Foreign Ministry-
Wang Yi: China, India should adhere to good-neighborliness, friendship -CGTN-
3. China's GDP Expands 5.3% in H1, Beats Market Expectation Amid Global Challenges
International banks raise China GDP forecasts on strong economic data. China's GDP grew by 5.3 percent year-on-year in the first half of 2025, according to data released by the National Bureau of Statistics on July 15, exceeding market expectations and reflecting the effectiveness of the country’s pro-growth policies. Data from the General Administration of Customs showed that China’s total imports and exports of goods rose by 2.9 percent year-on-year in H1 2025, reaching 21.79 trillion yuan ($3.04 trillion), demonstrating continued resilience amid a challenging global environment.
Read more:
Chart of the Day: Monetary policy support strengthens China's real economy in H1 2025 -CGTN-
China's H1 GDP expands 5.3%, demonstrating strong resilience amid complex global environment -Global Times-
China’s GDP Seen Outpacing Target, Easing Stimulus Pressure -Bloomberg-
4. Nvidia's CEO Jensen Huang Praises China's AI Innovation, Resumes H20 Chip Sales in Chinese Market
Nvidia CEO Jensen Huang, on his third trip to China this year, emphasized on July 15 that China is home to 50 percent of the world’s AI researchers and has a vast, vibrant market critical to U.S. firms. In an interview with CNN's Fareed Zakaria, Huang noted that China’s military does not rely on U.S. technology, pointing out that despite potential restrictions, China already possesses ample computing capacity. On July 14, Huang announced that Nvidia will resume H20 AI chip sales to China, with U.S. government assurances on licenses and pending deliveries.
Read more:
How Nvidia’s Jensen Huang Persuaded Trump to Sell A.I. Chips to China -The New York Times-
Nvidia’s Jensen Huang Hails China's AI Innovation, Seeks Win-Win Path Despite Trade Tensions -Yicai Global-
Nvidia’s Jensen Huang brushes off U.S. fears that China’s military will use his firm’s chips -CNBC-
5. China's Xixia Imperial Tombs Inscribed as UNESCO World Heritage Site, a Unique Cultural Fusion Along the Silk Road During 11th to 13th Centuries
China's enigmatic Xixia Imperial Tombs (西夏陵) were inscribed on the World Heritage List on July 12 during the 47th session of the UNESCO World Heritage Committee, held in Paris, France. The site stands as a testament to cultural fusion and the interaction of diverse traditions. It also highlights the unique role of the Xixia Dynasty (Western Xia, 1038–1227) in fostering cultural exchange and commercial activity along the Silk Roads during the 11th to 13th centuries.
Read more:
Digital innovation reshapes heritage frontier for Chinese museums -Xinhua-
Xixia Imperial Tombs becomes China's 60th World Heritage site -China Daily-
Chart of the Day: A quick look at the Xixia Imperial Tombs -CGTN-
Stay tuned for more updates on China's political, economic, and cultural landscapes.
Disclaimer: This newsletter is for informational purposes only. All sources are publicly available and subject to change.
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