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China economy

China economy
Breaking news and analysis on China’s economy, including its opening up, the US-China trade war, the impact of tariffs and trade talks, growth rates and other key economic data, the Belt and Road Initiative, and Greater Bay Area plan.
China recorded a record trade surplus last year despite facing US tariffs, helping the country hit its annual growth target of “about 5 per cent”. Photo: Xinhua
China GDP

Developing | China’s GDP rises 5% in 2025 as US trade war fails to knock economy off course

China hit its annual growth target of ‘around 5 per cent’ as exports surged despite US tariffs, but data also highlights domestic challenges.

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China’s private sector

China’s drug and medical device sector fuels growth with record licensing deals

China stock market

China’s advances in AI fuel tech stock boom, help it shake off economic malaise

China property

Hotel conversions gain traction in China’s office market amid high vacancies

In Hangzhou, one office building now houses around 10 hotels, alongside restaurants, photography studios and second-hand luxury stores.

Hotel operators are seeking lower-cost, well-located space, and office landlords are looking to reduce vacancy, says James Macdonald, head of research for China at Savills. Photo: Handout
China energy security

China’s AI and EV boom drives record power demand, widening energy gap with US

The main drivers of the growth are the tertiary sector – covering services including AI cloud services – and residential use.

Banking & finance

In wake of Trump post, calls mount for China to impose rate cap on online loans

Beijing tightened oversight of China’s online lending market last year, but many are still borrowing, especially those of younger generations.

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US-China trade war

Trump shrugs off concerns over Canada-China EV deal, calls it a ‘good thing’

Despite Trump’s support for landmark accord, US Trade Representative Jamieson Greer said Ottawa may regret its decision ‘in the long run’.

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While US President Donald Trump said on Friday it’s a “good thing” that Canadian Prime Minister Mark Carney has signed a trade deal with China, his trade chief cautioned that Canada could regret the decision. Photo: AP
US-China relations

Tesla’s defeat, Harvard’s success, Beijing’s shock: 7 US-China relations reads

From China’s EV power to Hegseth’s new threat, here are highlights from the SCMP’s overseas correspondents in the first half of January 2026.

US-China relations

China dumps more US debt, buys other assets as Trump targets Powell

Beijing’s Treasury holdings hit a September 2008 low, and analysts point to fears over Fed independence and debt sustainability, while gold’s appeal rises.

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China trade

Canada, China hit reset button on relations with tariff agreement

Canadian Prime Minister Mark Carney announced the deal, which features a mutual reduction in tariffs on goods, including Chinese EVs.

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Canada’s Prime Minister Mark Carney speaks to the media at Ritan Park in Beijing. Photo: Reuters
China-Canada relations

China-Canada accord, US-Taiwan chips deal, GDP slowdown

This week: China and Canada to cut tariffs, Taiwan agrees chips and tariff deal with US, China trade surplus hits record, and PBOC cuts relending rates. Next week, China economic growth may hit post-Covid low, Trump attends Davos, DeepSeek reaches first anniversary, and more.

Canadian Prime Minister Mark Carney and Chinese President Xi Jinping. Photo: Reuters
China technology

Opinion | China’s economy is struggling – even as its hi-tech sector booms

China’s pivot to a tech-driven economy is thrilling, but its success will be judged by how it improves people’s everyday lives.

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US-China trade war

China’s slowing growth, bilateral tensions top US business concerns

Survey by American Chamber of Commerce in China finds that expectations for Sino-US ties have ‘improved significantly’.

China stock market

China pushes slow bull run with tightened margin financing rules

‘Investors should reduce their leverage levels to guard against the risk of volatility,’ BOC International’s Wang Jun says.

The tightened margin trading rules’ immediate impact was to cool market sentiment. Photo: Shutterstock
China education

Opinion | Too few Chinese finish secondary school to sustain growth

To shift to a new growth model, China must redirect its focus from skyscrapers and infrastructure to raising educational attainment.

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Students study at a high school in Renxian county, Hebei province, on May 7, 2015. Photo: Xinhua
Electric & new energy vehicles

China’s subsidy change adds to EV makers’ stress, while petrol cars gain

Typical subsidy on an EV drops by around US$1,150, changing buyer calculations and exacerbating the sector’s profitability woes.

China’s crackdowns

China targets wealthy influencers with audits, fines as fiscal pressures rise

Big data is used to flag income gaps for top online stars and overseas earners, as regulators recover billions in unpaid levies amid slumping land sales and value-added tax revenue decline.

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Banking & finance

China to cut relending rates, widen credit support for private sector and tech

Beyond the central bank’s rate cuts that take effect Monday, authorities will work to lower the minimum down payment for commercial property purchase loans to 30 per cent.

Paramilitary police officers stand guard in front of the headquarters of the People’s Bank of China in Beijing. Photo: Reuters
China airliners

Exclusive | European test pilots put China’s C919 airliner through paces in Shanghai

European Union Aviation Safety Agency test flights a crucial step in acquiring certification needed for global operation.

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China society

Opinion | Without pension reform, China is leaving its rural elderly out in the cold

What looks like a side-effect of ‘coal-to-gas’ heating programmes is really a structural issue: rural pensions are not enough to live on.

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Electric & new energy vehicles

China-EU tariff consensus on EVs will cut shipments but boost profits

Agreement on price floors will allow mainland carmakers to avoid price wars and nurture brand reputation, analysts say.

People view BYD cars during the Brussels Motor Show in Brussels, Belgium, on January 10, 2026. Photo: Xinhua
US-China trade war

Trump sets 180-day deadline to counter China’s control of critical minerals

US government warns global suppliers to negotiate agreements to secure reliable, diversified supplies for the US or face new trade hurdles.

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In a proclamation signed on Wednesday, US President Donald Trump declared that the US’ reliance on foreign-processed critical minerals poses a national security threat. Photo: Reuters
China consumption

Why mortgage subsidies could be key to getting China’s consumers spending

Beijing is striving to boost household spending amid an economic slowdown. But first it needs to stabilise the housing market, scholars say.

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China trade

China trade surplus hits US$1.2 trillion even with Trump tariffs

Chinese exporters brushed off the US trade war in 2025, partly by finding new markets, while lower oil prices and investments in renewable power kept imports flat amid economic growth.

Banking & finance

Growth in sovereign investors’ China exposure slows amid political tensions

Inflows fall 58 per cent as sovereign wealth funds grow cautious, yet outlook signals selective opportunities ahead, experts say.

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Sovereign investment activity has become increasingly politicised, forcing some Western state-owned investors to avoid major deals in China, according to a data platform. Photo: EPA
Mainland China

Opinion | China’s new property pivot is coming. Expect full stabilisation ahead

As property curbs to boost spending hit practical limits, a push to stabilise assets is now being seen as a prerequisite for consumer confidence.

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Home buyers shop at a pre-sale property in Yangxin county, Binzhou city, in eastern China’s Shandong province, on February 23. Photo: CFOTO/Future Publishing via Getty Images
China travel

‘Structurally hurt’: why are Chinese tourists spending less abroad than before?

China’s outbound travel sector has bounced back from the pandemic, but the era of duty-free shopping sprees appears to be over.

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China trade

China’s US$1.2 trillion trade surplus

China posted its first trade surplus above US$1 trillion in 2025 as exporters reshaped operations to weather the US trade war and imports stagnated amid lower oil prices.

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