Chinese Vice Premier He Lifeng will be in Sweden from July 27 to 30 for economic and trade talks with the US upon mutual agreement, China's Ministry of Commerce announced on Wednesday. 

Following the important consensus reached during the phone talks between the two heads of state on June 5, the two sides will leverage the role of the China-US economic and trade consultation mechanism and continue to engage in consultations on economic and trade issues of mutual concern based on the principle of mutual respect, peaceful coexistence and win-win cooperation, said a spokesperson with the ministry, the Xinhua News Agency reported. 

In May, China and the US released a joint statement on the China-US Economic and Trade Meeting in Geneva and the parties announced the establishment of a mechanism to continue discussions about economic and trade relations, according to Xinhua.

In June, the first meeting of the China-US economic and trade consultation mechanism was held in London, leading to new progress in addressing each other's economic and trade concerns, China Central Television reported.

"The fact that China and the US can hold three economic and trade talks within two and a half months indicates that both sides are willing to maintain communication and strengthen dialogue. The previous two talks have each produced new outcomes, showing a consensus on achieving concrete results, which are all positive signals," He Weiwen, a senior fellow at the Center for China and Globalization, told the Global Times on Wednesday.

"Talks and engagement are always better than confrontation, as they will help foster a more predictable environment for companies from the two countries as well as other countries," said Gao Lingyun, a research fellow at the Institute of World Economics and Politics of the Chinese Academy of Social Sciences. 

He Weiwen noted that the new round of talks is crucial for building on the outcomes of the previous two, further refining the framework of China-US agreements, and striving for more concrete results to advance comprehensive economic and trade cooperation between the two major economies.

Multilateral rules

China and the United States on May 12 released a joint statement on China-US Economic and Trade Meeting in Geneva, stating a 90-day pause on most of tariffs, which is scheduled to expire in August.

US Treasury Secretary Scott Bessent said on Tuesday local times he will meet his Chinese counterparts in Stockholm next week for their third round of trade talks aimed at extending a tariff truce and widening the discussions. 

In response to Bessent's claim that the negotiations may take on a broader array of topics, including China's purchase of oil from Russia and Iran, 

Guo Jiakun, a spokesperson from China's Foreign Ministry, said at a press conference on Wednesday that on economic and trade issues, China's position is consistent and clear. 

We hope the US will work with China to act on the important common understandings reached by the two presidents in their phone conversation, make good use of the consultation mechanism and engage in communication and dialogue on the basis of equality, respect and mutual benefit, so that there will be more consensus and cooperation and less misperception, and the bilateral relations can achieve steady, sound and sustainable development, Guo noted.

The US Commerce Department last week announced it will impose preliminary anti-dumping taxes of over 90 percent on a kind of graphite imported from China. The Chinese Foreign Ministry stressed that China-US economic ties benefit both sides, while urging the US side to abide by the rules of the market economy and keep trade and economic ties sound and stable.

Normal trade and economic cooperation benefits both sides, Gao said, noting that the US business community, academics and political figures need greater efforts to inject common sense into the China-bashing environment in the US.

Spillover effects of tariff

According to CNBC, US Commerce Secretary Howard Lutnick said on Sunday that August 1 is the deadline for countries to begin paying tariffs to the US.

Agreements should be based on multilateral trade rules, equality, mutual respect and mutual benefit, He Weiwen said.

A recent report released by the US-China Business Council shows that 82 percent of US companies in China reported a profit. Many say uncertainties in China-US relations and tariffs are their top concerns, but the Chinese market remains vital.

The International Monetary Fund (IMF) released a report on July 22 local time, warning that the US administration's move to impose import tariffs on nearly all of its trading partners "would have significant macroeconomic effects."

The report noted that the tariffs are likely to reduce global demand in the short term, leading to "a negative supply shock (especially for the imposing countries), and add to inflationary pressures through rising import prices." Moreover, the uncertainty surrounding the tariffs could undermine consumer and business confidence and increase volatility in financial markets.

The report noted that the US tariff hikes could prompt other countries to respond by raising their own trade barriers to address widening imbalances, further deepening geoeconomic fragmentation. Such a trend would inflict lasting damage on the global economy.

The Asian Development Bank (ADB) has also lowered its growth forecasts for economies in developing Asia and the Pacific this year and next year. The downgrades are driven by expectations of reduced exports amid higher US tariffs and global trade uncertainty, as well as weaker domestic demand.

ADB forecasts the region's economies will grow by 4.7 percent this year, a 0.2 percentage point decline from the projection issued in April. The forecast for next year has been lowered to 4.6 percent from 4.7 percent, according to the Asian Development Outlook (ADO) July 2025 released on Wednesday.

"Tariffs primarily affect trade, while the uncertainty they create has a particularly severe impact on investment, both of which are destructive to the global economy," He Weiwen warned. 

China has consistently been a practitioner of multilateralism and hopes that the US will adopt a responsible attitude as a major power, working together with China to uphold free trade and inject vitality into global progress through cooperation, Gao noted.

A Chinese Foreign Ministry spokesperson expressed deep concern over current developments between Thailand and Cambodia on Thursday, urging both parties to resolve the issue through dialogue and negotiation after fresh clashes broke out along their border.

Thailand and Cambodia exchanged fire on their border Thursday in a sharp escalation of their conflict that killed at least 11 civilians, according to the Al Jazeera update. Both nations accused each other of starting the military clashes and have downgraded their diplomatic relations since Wednesday, according to the media reports. 

Thailand is closing all border crossings with Cambodia, a spokesperson of Thailand's Ad Hoc Center for Thailand-Cambodia Border Situation told a press briefing on Thursday, the Xinhua News Agency said. 

The two countries' foreign ministries issued statements condemning the situation "in the strongest terms," while calling on each other to cease the hostile acts.

Cambodia's Ministry of Foreign Affairs and International Cooperation issued a statement condemning Thailand's aggression. Since the early morning of Thursday, Thai armed forces launched "unprovoked, premeditated and deliberate attacks" on Cambodian positions along the border areas, including Tamone Thom Temple, Ta Krabey Temple and Mom Bei, in the provinces of Preah Vihear and Oddar Meanchey, it said.

The Thai government also condemned on Thursday "in the strongest terms the violations of Thailand's sovereignty and international law" and urged Cambodia to cease its repeated act which constitutes a severe violation of international law, according to a statement issued by the Thai foreign ministry.

At a press conference on Thursday, Chinese Foreign Ministry spokesperson Guo Jiakun, when responding to a question on the Thailand-Cambodia border clash, stated that Thailand and Cambodia are both China's friendly neighbors and important members of ASEAN. Good-neighborliness and properly settling differences serves the fundamental and long-term interests of the two sides.

He added that we are deeply concerned over the ongoing developments and hope that the two sides will properly address issues through dialogue and consultation. Bearing in mind the common interest and concerns of regional countries, China upholds a just and impartial stance. We have and will continue to promote talks for peace in our own way and play a constructive role in promoting deescalation.

The strikes come a day after a Thai soldier lost his leg to a landmine on the border, prompting a downgrade of diplomatic ties by both Bangkok and Phnom Penh as relations collapse to their lowest level in years, CNN said. 

Worrying escalation

The Chinese Embassy in Cambodia on Thursday reminded Chinese citizens in the country, especially those near the conflict zones, to closely monitor the local security situation, remain vigilant, take precautions, and stay safe. They should also avoid traveling to the Cambodian-Thai border areas, according to a statement issued by the embassy.

A Chinese citizen living in Bangkok, surnamed Qian, who had planned to fly back to Beijing in two days, told the Global Times on Thursday that after learning the conflict had escalated to airstrikes, she was worried that if the situation worsened further, Thai airspace might close, leaving her unable to return home. 

Zhou Yingping, General Manager of China Southern Airlines Company Limited's Phnom Penh Office, told the Global Times on Thursday that the company has contacted Cambodian air traffic control authorities and confirmed that there are no disruptions so far to current flight operations. However, Zhou expressed worries about the conflict escalating out of control and said they are closely monitoring the situation.

Cambodian media outlet Khmer Times described the clashes on Thursday as having "escalated into one of the most serious military standoffs between the two countries in recent years," drawing regional and international concern.

Thailand's Ministry of Education ordered all 582 schools on Thursday in the Thai-Cambodian border conflict zone to temporarily suspend classes, according to CCTV News. 

The ministry said the suspension was for safety reasons, with all students currently returning home. If the situation continues to worsen, students will be instructed to seek shelter in bunkers, CCTV News said. 

With the conflict escalating through the deployment of heavy weapons such as fighter jets and rocket artillery following landmine incidents along the disputed border, a Chinese military affairs expert said the clashes were intensifying, and warned of further escalation between China's two neighbors. 

Ritcha Suksuwanon, Thai military deputy spokesperson, said six Thai F-16 fighter jets were deployed from Ubon Ratchathani province, hitting two "Cambodian military targets on the ground", according to the Al Jazeera. The report also said that Cambodia fired artillery shells and rockets into Thailand, per the update report. 

Both countries seek to communicate with the UN urgently on Thursday. Thai Foreign Minister Maris Sangiampong arrived at the UN Headquarters in New York City on Thursday afternoon to urgently communicate with the international community regarding "Cambodia opening fire on Thailand," Bangkok-based media Khaosod English reported. 

Cambodian Prime Minister Hun Manet has formally requested the UN Security Council to urgently address what he described as a "premeditated military aggression" by Thai armed forces along the Cambodian-Thai border, Khmer Times reported.

CNN, citing an analyst, predicted on Thursday that the conflict between Thailand and Cambodia is "likely to get worse before it gets better," and the next few days could see more "confrontation, clashes, escalation."

Thailand and Cambodia have had a complicated relationship of both cooperation and rivalry in recent decades, CNN said, pointing out that the two countries share an 817-kilometer land border — largely mapped by the French when they controlled Cambodia as a colony — that has periodically seen military clashes and been the source of political tensions.

"Many of the issues are not due to deep-rooted animosity between Thailand and Cambodia themselves, but rather stem from the lingering problems left behind when French colonialists withdrew," Song Zhongping, a Chinese military affairs expert, told the Global Times on Thursday. 

The border dispute between Thailand and Cambodia involves complex historical issues. The two countries should actively seek more dialogue and communication, and work together to create favorable conditions for easing the situation, Bao Zhipeng, an assistant researcher at the Department for Asia-Pacific Studies of the China Institute of International Studies, told the Global Times on Thursday. 

A 60-year-old farmer from Maanshan, East China’s Anhui Province, has successfully built a submarine on his own, the China Central Television (CCTV) reported. The five-ton homemade vessel, named "Big Black Fish," is capable of diving to a depth of eight meters.
The farmer, named Zhang Shengwu, has been passionately devoted to invention since childhood, habitually engaging in small creations.

Over 20 years ago, Zhang built a sand dock in his hometown, spending his days watching cargo ships come and go.  

In 2014, Zhang watched a television program featuring submarine construction, which gave him an idea to pursue. "Having spent years near water, I'd seen vessels of steel and wood – but never one capable of descending beneath the waves,” he said.  

“If others can do it, so can I," said Zhang.

Though his family didn’t support him, it didn’t dampen his dream of building a submarine. He began conceptualizing the submarine’s structure in his mind. 

As a seasoned carpenter, he possesses expertise in structural design, complemented by first-hand maritime work experience understanding propulsion systems, the state broadcaster CCTV News said. 

“Once I calculated material requirements, the timeline became clear," Zhang noted.

With the blueprints mapped out in his mind, Zhang spent 5,000 yuan ($699) on steel plates, batteries, engines, and other materials, and started building the submarine. After six months of effort, his first submarine was completed.

Measuring six meters long, 1.2 meters high, and weighing two tons, this submarine earned him a national utility model patent, starting his inventive journey, according to the report.

By 2016, he had developed a surface vessel, winning another utility model patent certificate, CCTV News reported

Zhang didn’t stop there. He invested over 40,000 yuan to build his second upgraded submarine. The new vessel increased in length to seven meters and height to 1.8 meters, featuring a two-person cockpit.

To enhance stability, he poured approximately two tons of concrete into the hull base and installed dual ballast tanks fore and aft. For superior watertight integrity, Zhang welded all joints tightly and made the inlet and outlet circular.

Weighing five tons with seven tons of displacement capacity, the submarine achieves an eight-meter diving depth and a minimum speed of four knots. 

Zhang expressed profound satisfaction, "A single small battery powers an electric motor propelling such substantial craft underwater. It remains completely watertight during 30-minute submersion cycles and possesses reverse maneuverability."  

Regarding future endeavors, Zhang plans to construct larger submarines while helping enhance national defense awareness among youth.