Chinese and U.S. teams are accelerating efforts to implement results from the London framework to resolve their trade disputes, said a senior official of the General Administration of Customs (GAC) on Monday.
At a press conference held in Beijing, Wang Lingjun, deputy head of the GAC, briefed the media on the state of bilateral trade. In the first half of this year, China's total imports and exports with the United States reached 2.08 trillion yuan (290 billion U.S. dollars), a decline of 9.3 percent year on year. Exports dropped 9.9 percent to 1.55 trillion yuan, while imports fell 7.7 percent to 530.35 billion yuan.
Due to the impact of the so-called "reciprocal tariffs" imposed by the United States, China-U.S. trade shifted from year-on-year growth in the first quarter to a year-on-year decline in the second quarter, with the drop reaching 20.8 percent, said Wang.
Despite that slump, Wang noted signs of recovery following positive developments at recent economic and trade talks in Geneva and London. In June, monthly trade rebounded from less than 300 billion yuan in May to over 350 billion yuan, while year-on-year declines narrowed significantly.
"The essence of China-U.S. economic and trade cooperation is mutual benefit and win-win. This reflects the irreversible trend of globalization, the deep integration of global industrial chains, and the practical need for business innovation and public welfare in both countries," said Wang.
Wang emphasized the hard-won nature of recent breakthroughs and urged continued constructive engagement.
"China would like to reiterate that the Geneva consensus and the London framework were not easily achieved. There is no future in blackmail or coercion. Dialogue and cooperation are the only right path. We hope the U.S. side continues working with China to make cooperation the main theme of bilateral economic ties. Together, we can help steer the global trading system back toward fairness and openness, and contribute to the recovery and growth of the world economy," said Wang.
China, US ramping up implementation of London framework outcomes: GAC senior official
China, US ramping up implementation of London framework outcomes: GAC senior official
Shenzhen in south China's Guangdong Province saw a soaring number of visitors from abroad on Thursday, the first day of 2026 and also the opening day of China's three-day New Year holiday, as festive celebrations unfolded across the city.
Major border checkpoints in the city recorded peak inbound passenger flows, with large numbers of travelers from Hong Kong, Macao and overseas entering the city to experience its vibrant holiday vibes.
"I'm so happy 'cause this is the first day of 2026, and I'm bringing my friends to visit Shenzhen," said a visitor from Hong Kong.
International tourists also shared their excitement.
"It's a very modern city and it's interesting to see such a New Year Eve in such a city," said an overseas visitor.
The inbound passenger flow at Luohu Port peaked from 8:00 to 20:00 on Thursday, said an officer there, adding the average daily passenger flow during the New Year break is expected to reach about 240,000.
At the West Kowloon Station port, eye-catching red decorations themed around the upcoming 2026 Spring Festival which will mark the beginning of the Year of the Horse added to the festive mood.
As a key transportation hub of the Guangzhou-Shenzhen-Hong Kong Express Rail Link, the port also saw heavy two-way passenger traffic. Daily cross-border passenger flow there is expected to average around 100,000 during the holiday.
An Australian tourist said he was looking forward to his trip to south China.
"I am from Melbourne, Australia and I'm coming to Guangzhou and Shenzhen in China. I'm excited to see all the tall buildings, especially all the ones that light up and experience a new culture in China." said a tourist.
Outside the ports, celebrations were in full swing as the city prepared for rising visitor numbers.
A large-scale parade featuring more than 30 themed formations kicked off in the morning along the 1.6-kilometer Festival Avenue in Shenzhen's Futian District.
The event drew huge crowds with inflatable cartoon characters, lively drum performances, and traditional Yingge Dance -- a form of folk dance popular in south China's Guangdong Province that merges opera, dance, and martial arts.
Nearby commercial zones also rolled out special consumption coupons, allowing visitors to enjoy a one-stop experience combining festive celebrations and shopping.
"The atmosphere is really nice. We feel very welcomed here. It's a very, very international vibe", said an international visitor.
China continues to grow in popularity as a destination for overseas travelers. Data from online tourism platforms show that inbound flight bookings to China rose 20 percent year on year on the first day of the holiday, with Shenzhen ranking fifth among the country's most popular inbound travel destinations.
"On the first day of holiday, international flight ticket purchases to Shenzhen has increased by 52.5 percent while the international flight bookings to the city has grown by 33 percent," said Shi Ke, a researcher from big data research institute of Qunar, an online travel service provider.
Shenzhen embraces influx of visitors on first day of 2026
