Goldman Sachs raises U.S. inflation forecasts as tariffs weaken dollar

Official data shows that China's foreign trade has maintained resilience and stable growth since the beginning of this year.Foreign trade expanded 5.6 percent in April, with exports growing 9.3 percent, beating expectations.

Goldman Sachs has revised its U.S. inflation forecasts upward for 2025 and 2026, citing a weaker dollar following the Trump administration’s tariff announcements.

President Xi says China is ready to work with Russia to uphold the authority of the United Nations, and defend the rights and interests of both nations as well as those of developing countries in the face of unilateralism and bullying.

France and Germany have vowed to strengthen cooperation in defense and other key areas.

In a signed article published in Russian media, President Xi called on the two sides to safeguard the post-war international order and continue to promote a multipolar world and economic globalization.

China's financial authorities have explained a package of measures to stabilize the market. As part of the efforts, the country's central bank said it will cut the reserve requirement ratio by 0.5 percentage points.

Authorities say Chinese travelers took an estimated 314 million domestic trips during the five-day May Day holiday. The figure represents a 6.4-percent increase from the previous year.

China's Zhao Xintong has become the first Asian player to win the Snooker World Championship. This came after the 28-year-old defeated veteran Mark Williams 18-12 on Monday.

Israel says it has approved a plan to capture the entire Gaza Strip, and retain control for an unspecified length of time.

Monday marks the final day of China's five-day Labor Day holiday. More than 20 million passenger trips are expected on railways.