MANILA, June 9 (Reuters) - The Philippines' foreign ministry has undertaken appropriate diplomatic action against China in connection with the "illegal presence" of a floating structure in a disputed atoll,

Yet its economy is still weighed down by a property slump and big debts accrued by the local government since the early 2010s. The Chinese economy has slowed considerably in recent years, never fully recovering from the unpredictable and disruptive lockdowns of the covid-19 pandemic.

Beijing says the changes are needed for national security, but they could complicate efforts by Chinese companies to find growth overseas.

China’s buying of oil from overseas slumped to the lowest in more than eight years last month as the Iran war crimped supply and Beijing held off scrambling for replacement barrels.

China's foreign trade gained significant momentum in May despite heightened uncertainty due to the Iran conflict. Chinese exports rose by 19.4% year-on-year in US dollar terms, according to figures published by the customs authority in Beijing on Tuesday.

Taipei last received red pandas from a zoo in China’s Fujian province in 2014, according to the Taipei Times. The animals are endemic to China, as well as Nepal, Laos and Myanmar, among others. Taipei will send white-handed gibbons to Shanghai as part of the exchange, the Taipei Times said.

Han Lin, Managing Director and China Country Director at The Asia Group, says Beijing’s engagement with North Korea is less about achieving a breakthrough and more about maintaining strategic stability.

BEIJING, June 9 (Reuters) - China's May coal imports fell 8% from a year earlier to 33.27 million metric tons, customs data showed on Tuesday. • May imports, however, were up 1% from 33.1 million tons in April.