Chinese domestic planemaker, Comac, is set to ramp up production of its C919 jets this year, aiming to sell 28 units or more, reports the South China Morning Post. Last year it delivered 15, well short of the 75 planned.

While setbacks forced Commercial Aircraft Corporation of China (Comac) to cut back on its delivery targets last year, a manager briefed on the state-owned giant’s plans said it expected supply chain improvements to continue in the new year.

“Things started to improve substantially in the last quarter with the arrival of more engines and other parts … It’s reasonable to expect more deliveries this year but Comac’s management is prudent [on the outlook],” the manager told SCMP, requesting anonymity. “Two units have taken shape since the start of the new year and are undergoing delivery procedures. If that can become the norm, then Comac can produce one C919 every 10 to 15 days this year.”

China is set to ramp up imports of Russian oil in January, absorbing barrels that would have previously gone to India and Turkey, reports Reuters. This comes as tougher Western sanctions force Moscow to redirect flows, LSEG data and traders said.

China is due to receive nearly 1.5 million barrels per day (bpd) of Russian oil by sea this month, compared with 1.1 million bpd in December, according to preliminary LSEG data. 

Beijing, already a key consumer of Russian Far East ESPO Blend, also boosted imports of Russian Urals oil to a record high of 405,000 bpd in January, the highest since mid-2023, data provided by energy consultancy Kpler showed.

The week was dominated by an event that China did not attend in any substantive way — the World Economic Forum in Davos. Mr Xi has attended in the past, but not this year. But they were a player anyway by implication. Mr Trump of course was there and gave a performance, and there were some solid speeches from others. The upshot of it is that the basic alliance between the United States and the countries of Western Europe, which has been the cornerstone of global peace and stability for the past 80 years, no longer exists. And that has major implications for the rest of the world, including China.

The key thought comes from Canadian Prime Minister Mr Carney, which is that the big powers are moving away from a rules-based approach, and are operating increasingly on the basis of “might is right”, and middle powers, including Canada and the countries of Western Europe, need to acknowledge the change, and unite to address the big powers, because if they address the big powers individually they will always lose. He was implying more the US, but the same applies to all big powers, and the relationship of other countries to them.

These are dangerous times. Mr Carney recently visited Beijing, following France’s Macron and South Korea’s President Lee, and preceding a string of others due to visit soon, including the leaders of the UK and Germany. Getting the relationship right with China is imperative in this new era with the US no longer necessarily backing them up. But Carney’s point on the need for united action is well-said and appropriate in all such contexts.

The Trump approach to Greenland went in just a couple of days from absolute certainty that the US would take military action to achieve his goal of control of Greenland to: we now have a “concept of a deal” that will solve the problem without military action. What all this means is anyone’s guess, and it could change again tomorrow. But the inconsistency of it, to be restrained, provides Those in Command with an opportunity that they will no doubt seize with relish.

Meanwhile the economy continues to get worse, and the prediction for GDP growth this year was announced on Friday as a range between 4.5 to 5%. This is the first time the number 4 has appeared in a GDP announcement. And it seems like only yesterday that Wen Jiabao was saying “Protect 8″—that is 8% GDP growth, back in the days of the Global Financial Crisis.

Anyway, ups and downs. This is a volatile era, but hopefully a peaceful and enjoyable weekend for all.

China’s government is likely to set this year’s economic growth target in a range between 4.5 and 5%, reports the South China Morning Post, citing to three sources briefed on the matter.

The range, if confirmed, would serve as another indication of a tilt towards economic rebalancing and stability, both highly valued in the first year of a new five-year plan and even more so in advance of the ruling Communist Party’s next national congress, expected to take place in late 2027.

China has set and met an annual GDP growth of “about 5%” for three consecutive years. The growth rate was 5.2% in 2023 and 5% in each of the past two years, says the SCMP.

China’s trade surplus with the continent surged by 64.5% to a record US$102 billion, reports the South China Morning Post, citing China customs figures.

The jump in the trade gap–up from US$62 billion the previous year–was driven by a 25.8% surge in Chinese exports to the continent to $225 billion, far outpacing the 5.4% growth in African shipments to China to $123 billion, according to the latest data from China’s General Administration of Customs.

Lauren Johnston, a China-Africa specialist and senior research fellow at the AustChina Institute, told the Post that the sharp increase in China-Africa trade might be driven by pressure on China’s exports to other regions. In particular, tensions with the US, the world’s largest importer, were propelling Chinese firms to find new export markets, she said.