China This Week: Five things you need to know (Jun. 28-Jul. 4, 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 did China's leadership emphasize the building of a unified national market? How have China and the U.S. eased export controls as the London framework outcomes are implemented? Why does Chinese Foreign Minister Wang Yi's seven-day visit to European countries matter as both prepare for the next China-EU Summit? How will China commemorate the 80th anniversary of the WWII victory? And take a closer look at China's dual aircraft carriers' second systematic confrontational training exercise in the West Pacific and the Shandong aircraft carrier task force's visit to Hong Kong as the city celebrates the 28th anniversary of the return to the motherland. Check it out!

1. China Stresses Building Unified National Market For High-Quality Development

Chinese President Xi Jinping on July 1st stressed efforts to advance the building of a unified national market (全国统一大市场) and promote the high-quality development of the marine economy at a meeting of the Central Commission for Financial and Economic Affairs (中央财经委员会第六次会议). China first outlined a detailed set of policy measures to develop a unified national market《中共中央 国务院关于加快建设全国统一大市场的意见》in April 2022, aimed at ending local protectionism and unifying the fragmented market in order to remove key hurdles to economic growth. This January, China's top economic planner, the National Development and Reform Commission (NDRC), unveiled guidelines for building a unified national market.

Read more:

• China unveils guideline for building unified national market, driving demand and openness -China State Council-

• Xi stresses building unified national market, promoting marine economy's high-quality development -Xinhua-

• China’s Xi Jinping puts domestic market at forefront in high-profile meeting -South China Morning Post-

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2. China, U.S. Ease Export Control As London Framework Outcomes Implemented

China and the U.S. are taking concrete steps to ease export hurdles, around three weeks after the two countries reached principled consensus at London talks. The Chinese Commerce Ministry on July 4 said the country is reviewing export license applications for controlled items in accordance with domestic laws and regulations and confirmed that the U.S. has notified China of its decision to lift a number of restrictive trade measures on chip software and ethane. One day before, Synopsys (新思科技), Cadence Design Systems (楷登电子) and Siemens (西门子), three of the world's largest electronic design automation (EDA) software developers, said that they are restoring access to their software and technology for customers in China as they received letters from the U.S. Bureau of Industry and Science (BIS).

Read more:

• MOFCOM on reported US export resumption of certain Chinese exports: China, U.S. working intensively to implement London Framework outcomes -Global Times-

• China, US ease export curbs but Trump’s Vietnam deal risks blowback: analysts -South China Morning Post-

• U.S. lifts chip software curbs on China in sign of trade truce -CNBC-

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3. Chinese Foreign Minister Wang Yi Visits Europe, Prepare for the Next China-EU Summit

As the upcoming China-EU Summit has attracted much attention, Chinese Foreign Minister Wang Yi's seven-day visit to Europe and talks with European Council President António Costa, European Commission President Ursula von der Leyen, Belgian Prime Minister Bart De Wever and Deputy Prime Minister and Foreign Minister Maxime Prévot, and German Foreign Minister Johann David Wadephul, among others, shall be in focus.

'China is not U.S.': Wang Yi called on Europe to adopt a pragmatic, rational view on China at the China-EU strategic dialogue with Kaja Kallas, high representative for foreign affairs and security policy of the European Commission. Wang also called for peace talks to solve the Ukraine crisis, adding that rare earth exports have never been and should not be an issue between China and Europe at the Eighth Round of China-Germany Strategic Dialogue on Diplomacy and Security.

Read more:

• Wang Yi on Important Inspirations from 50 Years of China-EU Diplomatic Relations -Chinese Foreign Ministry-

• China and the European Union Hold the 13th Round of High-level Strategic Dialogue -Chinese Foreign Ministry-

• Wang Yi Elaborates on China's Position on the Ukraine Crisis -Chinese Foreign Ministry-

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4. China to Mark 80th Anniversary of WWII Victory With Series of Exhibits and Cultural Activities

China on July 3 unveiled a number of cultural events and outstanding cultural works to mark the 80th anniversary of the victory in the Chinese People's War of Resistance against Japanese Aggression (1931-45) and the World Anti-Fascist War. The war resulted in over 35 million Chinese military and civilian casualties. September 3 is celebrated in China as the Victory Day, marking the signing of the Japanese Instrument of Surrender on September 2, 1945.

Read more:

• SCIO briefing on thematic exhibitions, literary and artistic works, and cultural activities marking the 80th anniversary of the victory of the Chinese People's War of Resistance against Japanese Aggression and the World Anti-fascist War -China State Council Information Office-

• China unveils plans to mark 80th anniversary of victory over Japanese aggression and fascism -CGTN-

• China marks 80th anniversary of WWII victory with exhibit -Global Times-

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5. Chinese PLA Navy's Dual Aircraft Carrier Formations Return to Port After Far Seas Training, Aircraft Carrier Shandong Task Force Visits Hong Kong

The Chinese People's Liberation Army (PLA) Navy on June 30 announced that China's naval formations of two aircraft carriers, Liaoning and Shandong, have completed their far-sea combat-oriented training at waters include the Western Pacific and safely returned to their home ports. It marks the second systematic confrontational training exercise in far seas by the two carrier formations following a joint exercise in a dual carrier formation, which was carried out last year.

China's first homegrown aircraft carrier, the Shandong, on July 3, arrived in the Hong Kong Special Administrative Region, with carrier-borne fighter jets and marines aboard, starting a five-day maiden visit. The fleet's five-day stay in Hong Kong, which includes exclusive public tours, came on the heels of the July 1 celebrations marking the 28th anniversary of the city's return to the motherland.

Read more:

• China's aircraft carrier formations return after completing far-sea training -China’s Ministry of National Defense-

• PLA Navy's aircraft carrier Shandong task force visits Hong Kong -China’s Ministry of National Defense-

• Hong Kong SAR Chief executive: Aircraft carrier Shandong formation's HK visit to boost national pride of residents: -Global Times-

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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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