Xiamen Tungsten New Energy Kicks Off $3.15 Billion Cathode Material Precursor Project in France with Orano PCAM

[Ministry of Commerce: China Never Deliberately Pursues Trade Surplus; Overall, Current Account Surplus as a Share of GDP Is Within Internationally Recognized Reasonable Range] On July 28, the Ministry of Commerce released a document titled "China’s Position on the So-called 'Overcapacity' Issue," pointing out that China never deliberately pursues a trade surplus. China’s export growth stems from economies of scale and enhanced innovation capacity, as well as demand from other countries' green transition and industrialization. For example, China's export growth to Europe is mainly concentrated in PV, NEVs, lithium batteries, and chemical products, largely reflecting the demand for energy products driven by the green transition, and the energy crisis has raised production costs in European industries such as chemicals. China also never deliberately pursues export share in labor-intensive products; the share of such product exports dropped from 20.7% in 2012 to 15.1% in 2025. In terms of trade benefit distribution, "the surplus is in China, but the benefits are shared by all." In 2025, foreign-invested enterprises accounted for 27% of China's exports and 16% of its surplus, with both surplus and profit growth faster than those of domestic enterprises. From the perspective of the overall balance of payments, although China has a sizable surplus in goods trade, it runs deficits in services trade and investment income. Overall, the current account surplus accounts for about 3.7% of GDP, which is within the internationally recognized reasonable range.

Chinese Commerce Minister Wang Wentao held a video call with the UK's new Trade Secretary Reynolds to exchange views on bilateral economic and trade relations. China expressed willingness to strengthen cooperation with the UK in trade in services, green transition, and renewable energy, promoting balanced growth in bilateral trade.

On July 29, the solid-state battery concept rose intraday, with Jinlongyu hitting the daily limit and Lingpai Technology gaining over 10%. According to the news, on July 21, 2026, Gotion Holding Group's 20,000-ton/year solid-state battery key material project was officially launched in Anqing, Anhui. It is the industry's first 10,000-ton-class high-purity lithium sulfide mass-production line, with pilot construction slated for completion by end-2026 and full mass production in 2027.