China’s progress in building a modern economy, evident in its kung-fu fighting robots and self-parking cars, is hitting limits as a downturn in its housing industry drags on and young people struggle to find jobs.

By Marius Zaharia HONG KONG, March 3 (Reuters) - For more than a decade China pledged to make the consumer sector a more prominent driver of economic growth but has struggled to achieve this goal. Analysts say potential costs in the trillions of dollars and risks that reform could bring instability are making officials wary of bold policy decisions.

Kunlun, a small commercial lender controlled by China National Petroleum Corporation (CNPC), became the financial artery for China-Iran oil trade when US sanctions choked Iran's access to dollars.

Chinese leaders don’t mind seeing the US bogged down in the Middle East instead of focusing on Asia, but US-Israeli strikes on Iran bring a tough calculus for Beijing in the region.

China imports roughly half of its oil from the Middle East.

Canada to issue permits for up to 49,000 China-made EVs in 2026 under new trade deal, cutting tariffs to 6.1% from 106.1%.

The move comes as Beijing escalates a sweeping purge of military officials. Read more at straitstimes.com. Read more at straitstimes.com.

2026 growth target in focus; observers seek clues on personnel, foreign policy