The producer price index, or PPI, rose to 9% in May from a year earlier, up from a gain of 6.8% in April.

This is the highest since 2008.

Data from the National Bureau of Statistics also shows China’s consumer price index, or CPI, rose 1.3% in May from a year earlier.

What does it mean for China’s economy when there’s gap between the CPI and PPI growth rates?

For more on this, we spoke to Andy Mok, senior research fellow at the Center for China and Globalization.

China’s imports and exports all grew at a fast pace in the first five months of the year.

Customs data shows that China's foreign trade soared to nearly 15 trillion yuan, or 2.2 trillion U.S. dollars, in the first five months of this year.

Imports in dollar terms jumped by 51.1% to around $218 billion year-on-year, while exports soared 30% to more than eight trillion yuan between January and May.

The Association of Southeast Asian Nations remained China's top trading partner, followed by the EU and U.S.

How do you read all these trade figures? What do they tell us about the momentum of the economic recovery?

For more on this, we spoke with Wang Dan, chief economist of Hang Seng Bank China.

Google and Facebook welcomed a deal by the G7 nations that would require multinational companies - including tech giants - to pay more tax.

Finance ministers from the G7 nations, who have been meeting in London, agreed on a historic deal to set a global minimum rate of corporation tax of 15 percent on large firms.

Many major firms have set up bases in jurisdictions with lower tax rates, which the group said it wanted to crack down upon.

Huawei has launched its self-developed operating system across a slew of devices, including smartphones.

The Chinese technology giant has looked to pivot to software and focus on other consumer electronics like wearables and tablets to boost revenue, as U.S. sanctions have hurt other businesses.

Huawei bills HarmonyOS as an operating system that can work across many Internet-connected devices from smartphones to wearables and TVs, to differentiate from Google and Apple.

Oil prices hit multi-year highs above $70 a barrel after OPEC and its allies forecast higher demand and boosted output.

The Organization for Economic Co-operation and Development (OECD) raised its 2021 global GDP growth forecast, but warned that "too many headwinds persist".

The OECD said that the world economy will expand by 5.8% this year, the highest since 1973 and up from a previous estimate of 5.6%.

It forecasts that China's economy will grow 8.5% this year, and 5.8% in 2022.

It says most economies should return to their 2019, pre-pandemic levels next year.

U.S. President Joe Biden has released his first annual budget - a $6tn spending plan that would ramp up domestic spending and raise taxes on corporations and the rich.

The proposal is the biggest budget in recent history, reflecting the massive government spending plans Biden rolled out this spring.

But it needs approval from Congress, where some Republican senators treat it as "extremely expensive".

Under the plan, debt would reach 117% of GDP by 2031, surpassing levels during World War II.

China has overtaken Germany to become the United Kingdom's biggest import market for the first time.

The UK Office for National Statistics says goods imported from China rose about 66 percent from the start of 2018 in the first quarter.

The G7 economies are reportedly close to a deal on the corporate taxation of multinationals. A G7 pack could possibly pave the way for a global deal later this year on imposing corporate taxes on the largest companies in the world. Andy Mok, Senior Research Fellow at the Center for China and Globalization, offers his analysis.

Chinese fund managers are rapidly embracing machine learning and other types of artificial intelligence to boost efficiency and bolster returns.