Chinese Economy: General News, Updates and Discussions

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China to cut domestic retail gasoline, diesel prices from June 5

China will lower domestic retail price caps on gasoline and diesel from Friday in its second cut since the beginning of the Iran war, which has constrained global energy supplies and boosted global oil prices.

www.thestandard.com.hk

China will lower domestic retail price caps on gasoline and diesel from Friday in its second cut since the beginning of the Iran war, which has constrained global energy supplies and boosted global oil prices.

Retail gasoline and diesel ceiling prices will fall by 525 yuan (HK$607.78) and 505 yuan per metric ton respectively, state planner the National Development and Reform Commission said on Thursday.

China to cut domestic flight fuel surcharge from June 5

The surcharge will be cut to 80 yuan ($11.73) per segment for routes of 800 km or less, and 150 yuan for longer routes.

www.chinadailyasia.com

BEIJING – China's airlines will slash fuel surcharges for mainland routes on tickets sold from June 5, Air China and other airlines disclosed on Tuesday.

 

[Nan Yang]

Digital Payment Systems: The Invisible Infrastructure​

Walk into any major Beijing, Shanghai, or Guangzhou attraction and you'll notice something remarkable: foreign visitors are seamlessly using Alipay and WeChat Pay alongside traditional cards. This wasn't accidental.

China deployed biometric systems at major entry points and standardized digital payment adoption across hospitality sectors. For a Canadian traveler booking a hotpot dinner in Chengdu or an American visitor purchasing temple admission in Xi'an, the experience is frictionless. No currency exchange lines. No confusion. Just tap and go.

This infrastructure advantage compounds across multiple touchpoints, shaping the travel experience long before visitors board their flights home.

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I use Malaysian "Touch N Go" cashless payment while I was in Xian. No need to setup anything. I can use the moment I arrive in China. Heck I can even pay someone in China from Malaysia. He just need to send a picture of his QR quote.

Also the rate is very good.

This is the exchange rate at our local money changer before I left for China
I bought some RMB just in case.
The rate is 100 CNY = 57 MYR which is 1 MYR = 1.754 CNY


The "Touch N Go" rate is 1 MYR = 1.710