https://www.scmp.com/rss/12/feed Global economy news, including budgets, stock markets and analysis. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Sylvia Ma Sylvia Ma China’s central bank has set the yuan’s daily reference rate against the US dollar at its strongest level in more than three years, as global banks turn increasingly bullish on the Chinese currency. The People’s Bank of China set the yuan’s midpoint rate, also known as the daily fixing rate, at 6.8349 to the US dollar on Thursday – the strongest showing since February 2023. The move followed a 0.22 per cent appreciation in the offshore yuan on Wednesday, after bouts of volatility over the past... https://www.scmp.com/economy/china-economy/article/3354323/chinas-yuan-hits-3-year-high-global-banks-issue-bullish-forecasts?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3354323/chinas-yuan-hits-3-year-high-global-banks-issue-bullish-forecasts?utm_source=rss_feed Thu, 21 May 2026 05:15:58 +0000 Daniel Ren,Ann Cao Daniel Ren,Ann Cao Chery Automobile, China’s largest car exporter by deliveries, expects its overseas sales of electric vehicles (EVs) to jump as much as 27 per cent this year, as a global energy crisis spurs demand for battery-powered vehicles. Zhang Guibing, the president of Chery International, said on Wednesday that pure electric and plug-in hybrid models were projected to represent as much as 70 per cent of the carmaker’s total deliveries outside the mainland in 2026. That would equate to roughly 1.05 million... https://www.scmp.com/business/china-business/article/3354280/chinas-chery-sees-its-foreign-ev-sales-topping-1-million-world-wary-energy-crisis?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3354280/chinas-chery-sees-its-foreign-ev-sales-topping-1-million-world-wary-energy-crisis?utm_source=rss_feed Wed, 20 May 2026 23:00:11 +0000 Sylvia Ma Sylvia Ma Washington would not raise future tariffs on Chinese goods above the level stipulated in a trade truce the two countries hammered out late last year, Beijing said, a commitment arising from talks in South Korea held hours before US President Donald Trump’s arrival in the Chinese capital last week. Analysts said the pledge signals a shift in relations between the world’s two largest economies – from unilateral trade shocks towards a phase of “managed competition”. “We hope the US side will honour... https://www.scmp.com/economy/china-economy/article/3354260/china-us-trade-talks-saw-washington-commit-tariff-ceiling-beijing-says?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3354260/china-us-trade-talks-saw-washington-commit-tariff-ceiling-beijing-says?utm_source=rss_feed Wed, 20 May 2026 12:00:06 +0000 Alice Li Alice Li China’s exports of rare earth permanent magnets to Japan slightly rebounded in April after slumping the previous month, but Japanese firms warn they are facing “severe” shortages as a diplomatic row between Beijing and Tokyo grinds on. Shipments of permanent magnets from China to Japan rose by 2.5 per cent in April compared with the previous month, according to Chinese customs data released on Wednesday. But the modest rise only partly offset the 17.3 per cent plunge recorded in March. The... https://www.scmp.com/economy/china-economy/article/3354236/japan-feels-squeeze-chinas-rare-earth-magnet-exports-only-partly-recover?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3354236/japan-feels-squeeze-chinas-rare-earth-magnet-exports-only-partly-recover?utm_source=rss_feed Wed, 20 May 2026 10:30:05 +0000 Xiaofei Xu Xiaofei Xu Chinese investment in Europe hit a seven-year high of €16.8 billion (US$19.5 billion) in 2025, driven by a strong rebound in mergers and acquisitions (M&A) and record greenfield completions, a new report has found. But the annual study, published on Tuesday by Rhodium Group and the Mercator Institute for China Studies, cautioned that the pipeline may be thinning, with newly announced projects falling under pressure from Beijing’s push to retain industrial capacity at home and Europe’s growing... https://www.scmp.com/economy/china-economy/article/3354235/chinese-investment-europe-surges-7-year-high-despite-rising-trade-tensions?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3354235/chinese-investment-europe-surges-7-year-high-despite-rising-trade-tensions?utm_source=rss_feed Wed, 20 May 2026 09:04:18 +0000 Carol Yang Carol Yang Products and applications compatible with BeiDou, China’s home-grown navigation system, have captured 58 per cent of the positioning, navigation and timing (PNT) market in countries that have signed up to the Belt and Road Initiative, according to an industry white paper released on Monday, as Beijing leverages the trillion-yuan sector to expand its technological footprint. There were now more than 20 BeiDou-related service centres in countries taking part in the initiative – China’s... https://www.scmp.com/economy/china-economy/article/3354103/chinas-beidou-leads-gps-other-rivals-across-belt-and-road-network-report?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3354103/chinas-beidou-leads-gps-other-rivals-across-belt-and-road-network-report?utm_source=rss_feed Wed, 20 May 2026 01:00:11 +0000 Ji Siqi Ji Siqi Last week, US President Donald Trump landed in China aiming to secure the kind of blockbuster trade deals he championed nine years ago – spanning everything from soybeans to aircraft and energy. By the time he departed, it was clear that reality would fall far short of expectations. Despite Trump hailing a “fantastic deal”, China did not announce the massive buying spree that many had anticipated. Now, just days after Trump’s exit, Russian President Vladimir Putin is arriving in China with... https://www.scmp.com/economy/china-economy/article/3354114/putin-pushing-blockbuster-oil-and-gas-deal-china-will-he-get-it?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3354114/putin-pushing-blockbuster-oil-and-gas-deal-china-will-he-get-it?utm_source=rss_feed Tue, 19 May 2026 22:00:06 +0000 Syed Munir Khasru Syed Munir Khasru US President Donald Trump’s visit to Beijing, at a time of rising tensions over Iran, sanctions, tariffs and Taiwan, shows how far the Hormuz crisis has travelled beyond the battlefield. What began as a regional war is now touching energy markets, currency politics and the balance of influence between Washington and Beijing. The US is trying to keep Gulf and Asian partners anchored to the US dollar system, while China continues to push for wider use of the renminbi in trade transactions. Whether... https://www.scmp.com/opinion/china-opinion/article/3353360/malacca-strait-could-be-next-hinge-point-if-asia-isnt-careful?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3353360/malacca-strait-could-be-next-hinge-point-if-asia-isnt-careful?utm_source=rss_feed Tue, 19 May 2026 21:30:05 +0000 Sylvia Ma Sylvia Ma With new data suggesting a global retreat from US Treasuries in March – the first full month of the US-Israel war on Iran – market worries are on the rise over whether the sell-off could deepen, as interest rate decisions under new Federal Reserve chair Kevin Warsh, US debt sustainability and prolonged Middle East tensions raise investor concerns. Analysts are currently weighing mounting inflation pressures – which have driven Treasury yields sharply and placed the 30-year yield at its highest... https://www.scmp.com/economy/china-economy/article/3354069/world-retreats-us-treasuries-will-sell-deepen?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3354069/world-retreats-us-treasuries-will-sell-deepen?utm_source=rss_feed Tue, 19 May 2026 14:00:05 +0000 Xinyi Wu Xinyi Wu A prominent American business group in China has called for expanded energy trade between the world’s two largest economies – a move first floated by US President Donald Trump during his state visit to Beijing last week. Analysts, however, warn that uncompetitive pricing could limit Chinese demand. “Energy remains a centrepiece of the bilateral relationship,” said Markel Hubinette, who sits on the American Chamber of Commerce in China’s board of governors. Speaking at the Global Trade and... https://www.scmp.com/economy/global-economy/article/3354102/calls-grow-us-china-energy-trade-expansion-after-trumps-visit-it-feasible?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3354102/calls-grow-us-china-energy-trade-expansion-after-trumps-visit-it-feasible?utm_source=rss_feed Tue, 19 May 2026 10:00:13 +0000 Xiaofei Xu Xiaofei Xu With their domestic profits narrowing and production capacity expanding, China’s firms are continuing to widen their overseas footprints in search of new, more lucrative markets. In this series, we examine China Inc.’s next phase of “going global” and the complex, challenging international environment its companies have chosen to enter. Not long ago, plans were in motion to build an enormous battery factory in the Belgian countryside. If completed, it would have created an estimated 2,000 jobs... https://www.scmp.com/economy/china-economy/article/3353994/chinas-firms-have-glaring-weakness-they-face-barrage-eu-probes?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3353994/chinas-firms-have-glaring-weakness-they-face-barrage-eu-probes?utm_source=rss_feed Tue, 19 May 2026 01:00:10 +0000 Daniel Ren Daniel Ren The financial and commercial hub of mainland China is pinning its economic hopes on emerging industries such as autonomous driving and solid-state electric vehicle (EV) batteries to sustain growth following a robust start to 2026. Shanghai Mayor Gong Zheng said the city remained confident about achieving a 5 per cent economic expansion this year, buoyed by a strategy to attract foreign businesses and bolster local tech innovations. “We will double efforts to enlarge investment in key projects,... https://www.scmp.com/economy/china-economy/article/3353992/chinas-old-motown-shanghai-bets-robotaxis-better-batteries-gdp-bump?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3353992/chinas-old-motown-shanghai-bets-robotaxis-better-batteries-gdp-bump?utm_source=rss_feed Mon, 18 May 2026 23:30:05 +0000 Frank Tang,Sylvia Ma Frank Tang,Sylvia Ma Mainland Chinese investors shed their holdings of US Treasury bills in March, joining many overseas institutions and central banks amid uncertainties over the US-Israel war on Iran. Such reductions in Treasury holdings reflected mounting doubts in global markets, analysts said, as the escalating war in Iran fuelled concerns over inflation, energy prices and fiscal pressures, driving Treasury yields higher and overshadowing the likelihood of interest rate cuts from the US Federal Reserve. In... https://www.scmp.com/economy/china-economy/article/3354028/china-joins-global-sell-us-treasuries-march-iran-war-prompts-panic?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3354028/china-joins-global-sell-us-treasuries-march-iran-war-prompts-panic?utm_source=rss_feed Mon, 18 May 2026 23:19:39 +0000 Frank Chen Frank Chen China is stepping up economic engagement with Russia by hosting the 10th edition of a major bilateral expo ahead of Russian President Vladimir Putin’s expected trip to Beijing this week – just days after his American counterpart, Donald Trump, visited there last week. The back-to-back visits to the Chinese capital by two of the world’s most influential leaders highlight an uptick in diplomatic activity as Beijing seeks to stabilise relations with Washington while deepening coordination with... https://www.scmp.com/economy/global-economy/article/3353980/china-and-russia-hold-trade-expo-putin-and-trump-visits-draw-global-attention?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3353980/china-and-russia-hold-trade-expo-putin-and-trump-visits-draw-global-attention?utm_source=rss_feed Mon, 18 May 2026 12:30:08 +0000 Nicholas Spiro Nicholas Spiro Last year, investment in Japanese multifamily properties reached US$6.3 billion. While this accounted for 16 per cent of commercial real estate transaction volumes in Japan, it constituted almost half of the investment in institutional-grade rental housing in the whole of the Asia-Pacific. As the largest developed economy in the region, Japan has long dominated the investible rental housing market. According to LaSalle, “Japan’s multifamily sector is similarly mature to its US counterpart or UK... https://www.scmp.com/opinion/asia-opinion/article/3353926/why-asias-rental-housing-markets-outside-japan-are-luring-investors?utm_source=rss_feed https://www.scmp.com/opinion/asia-opinion/article/3353926/why-asias-rental-housing-markets-outside-japan-are-luring-investors?utm_source=rss_feed Mon, 18 May 2026 08:30:05 +0000 Frank Chen Frank Chen Japanese airlines’ lucrative European routes could become a victim of simmering tensions between China and Japan because access to airspace is a potential lever for Beijing, aviation professionals have warned. However, they said outright closure of Chinese airspace remained unlikely because it would snarl regional air traffic and embroil Chinese carriers. Aviation observers in China have recently discussed the likelihood of Beijing restricting or forbidding Japanese carriers from overflying the... https://www.scmp.com/economy/china-economy/article/3353718/could-china-limit-japanese-airlines-access-its-airspace-ties-sour?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3353718/could-china-limit-japanese-airlines-access-its-airspace-ties-sour?utm_source=rss_feed Mon, 18 May 2026 01:00:11 +0000 Yuanyue Dang Yuanyue Dang China has agreed to buy at least US$17 billion in US agricultural products annually through 2028, the White House said on Sunday. The commitment resulted from the summit between US President Donald Trump and Chinese President Xi Jinping last week and will be in addition to soybean purchase commitments that were made in October 2025, according to a fact sheet released by the White House. Trump concluded his highly-anticipated state visit to China on Friday, during which he discussed topics... https://www.scmp.com/news/china/diplomacy/article/3353903/china-will-buy-least-us17-billion-us-farm-goods-annually-white-house-says?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3353903/china-will-buy-least-us17-billion-us-farm-goods-annually-white-house-says?utm_source=rss_feed Sun, 17 May 2026 19:50:48 +0000 Xiaofei Xu,Ji Siqi,Xinyi Wu Xiaofei Xu,Ji Siqi,Xinyi Wu China and the United States have agreed to establish trade and investment councils, committing in principle to match each other’s tariff cuts on a reciprocal basis. “The two sides will use the Trade Council as a forum to discuss issues such as tariff reductions on specific products,” China’s Ministry of Commerce said in a statement on Saturday, without providing further details. The world’s two largest economies also made progress on agricultural trade and aircraft, the statement added. The two... https://www.scmp.com/economy/global-economy/article/3353840/china-and-us-agree-establish-trade-and-investment-councils-after-xi-trump-summit?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3353840/china-and-us-agree-establish-trade-and-investment-councils-after-xi-trump-summit?utm_source=rss_feed Sat, 16 May 2026 15:05:04 +0000 Mandy Zuo Mandy Zuo China’s purchase of “double-digit billions” in American agricultural products touted by US officials following President Donald Trump’s state visit to Beijing appears to be a marginal addition after factoring in previous commitments, analysts said, adding that new orders could reduce the country’s reliance on Brazil for soybeans and other items. US Trade Representative Jamieson Greer said on ‌Friday that he expects to see China buy a 10-figure sum in agricultural products annually over the next... https://www.scmp.com/economy/global-economy/article/3353803/soybean-counters-scope-china-us-farm-deal-depends-math-analysts-say?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3353803/soybean-counters-scope-china-us-farm-deal-depends-math-analysts-say?utm_source=rss_feed Sat, 16 May 2026 13:00:06 +0000 Anthony Rowley Anthony Rowley As economist Paul Sheard noted in his book The Power of Money, money is created not only by the fiat of governments or central banks but also by commercial banks. Relatively few people are aware of this fact, but fewer still realise that stock markets also can create “money” in the form of purchasing power. Thus, any collapse in stock prices of the kind which appears increasingly imminent now represents both the destruction of “paper wealth” and of real wealth that supports economic activity.... https://www.scmp.com/opinion/world-opinion/article/3353549/global-stock-markets-are-bubbling-along-unjustified-optimism?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3353549/global-stock-markets-are-bubbling-along-unjustified-optimism?utm_source=rss_feed Sat, 16 May 2026 08:30:04 +0000 Mia Nurmamat,Ralph Jennings Mia Nurmamat,Ralph Jennings US President Donald Trump’s landmark visit to China comes as the US-Iran war disrupts global energy supplies, fuels economic uncertainty and adds fresh strain to Washington-Beijing ties. In the latest instalment of a series examining how rivalry, interdependence and geopolitical crises are reshaping the relationship between the two powers, we explore the massive upswing in capital expenditures across Asia that is driving a broad shift in economic power. When US President Donald Trump made his... https://www.scmp.com/economy/article/3353399/trump-and-his-ceos-want-chinas-business-has-asia-moved?utm_source=rss_feed https://www.scmp.com/economy/article/3353399/trump-and-his-ceos-want-chinas-business-has-asia-moved?utm_source=rss_feed Fri, 15 May 2026 22:00:07 +0000 Daniel Ren Daniel Ren Peugeot and Jeep, owned by French-Italian automotive group Stellantis, have committed to fresh investments to build electric cars with its partner Dongfeng Motor, as more international marques join the fight against Chinese rivals in the world’s largest car market. Stellantis announced on Friday that four electric vehicles (EVs) under the two storied auto brands would roll off the production lines in 2027 as the European carmaker leverages Chinese technologies to assemble best-class cars for the... https://www.scmp.com/business/china-business/article/3353767/peugeot-jeep-take-chinese-rivals-new-models-using-local-ev-technologies?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3353767/peugeot-jeep-take-chinese-rivals-new-models-using-local-ev-technologies?utm_source=rss_feed Fri, 15 May 2026 14:20:02 +0000 Frank Chen,Xiaofei Xu Frank Chen,Xiaofei Xu US President Donald Trump said China has agreed to purchase at least 200 commercial aircraft from Boeing, and up to 750 if certain conditions are met – a commitment which would end a nearly decade-long order drought – following a state visit to Beijing, where Trump said a purchase of up to 450 aircraft engines from General Electric was also agreed upon. “We made a lot of great trade deals, including over 200 planes for Boeing, with a promise of 750 planes, which would be by far the largest order... https://www.scmp.com/economy/global-economy/article/3353749/trump-touting-deal-says-china-buy-200-boeing-jets-promise-more?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3353749/trump-touting-deal-says-china-buy-200-boeing-jets-promise-more?utm_source=rss_feed Fri, 15 May 2026 12:24:59 +0000 Sylvia Ma Sylvia Ma Stephen Miran’s departure from the US Federal Reserve Board of Governors will smooth the leadership transition to incoming chair Kevin Warsh, but his exit is unlikely to alter the central bank’s policy trajectory, analysts said. The move is also sparking speculation about what comes next for Miran – a former top economic adviser to US President Donald Trump – with market watchers debating whether he will return to the White House or re-enter the private sector. Miran submitted his resignation as... https://www.scmp.com/economy/global-economy/article/3353705/stephen-miran-trumps-economic-guru-leaving-fed-what-happens-now?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3353705/stephen-miran-trumps-economic-guru-leaving-fed-what-happens-now?utm_source=rss_feed Fri, 15 May 2026 12:00:05 +0000 Daniel Ren Daniel Ren Chinese electric vehicle (EV) makers, from BYD to Leapmotor, are voraciously seeking out manufacturing assets in Europe as the global energy crisis creates surging demand for battery-powered vehicles. Their pursuit of idled European assembly facilities owned by big names like Stellantis and Volkswagen is disrupting the pecking order in the global automotive industry, as the Chinese carmakers’ design and manufacturing heft sees them morph into international players. “China’s EV assemblers are... https://www.scmp.com/business/china-business/article/3353722/chinese-ev-makers-hunt-idled-plants-europe-they-expand-global-influence?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3353722/chinese-ev-makers-hunt-idled-plants-europe-they-expand-global-influence?utm_source=rss_feed Fri, 15 May 2026 09:50:14 +0000 Ralph Jennings Ralph Jennings Australia’s trade minister will visit China in an effort to shore up fuel supplies that have run short this year because of bottlenecks in the Strait of Hormuz during the US–Israeli war in Iran. Australian Trade and Tourism Minister Don Farrell told a press conference that he would travel to China to meet Commerce Minister Wang Wentao after a stop in Japan on Monday. “Very much the topic of the day will be how do we continue to ensure reliable fuel supplies into this country,” Farrell said,... https://www.scmp.com/economy/global-economy/article/3353673/australian-trade-minister-visit-china-secure-fuel-during-iran-war-crunch?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3353673/australian-trade-minister-visit-china-secure-fuel-during-iran-war-crunch?utm_source=rss_feed Fri, 15 May 2026 07:30:05 +0000 Ji Siqi,Zhang Shidong Ji Siqi,Zhang Shidong While US President Donald Trump concluded his three-day state visit to Beijing by hailing “fantastic trade deals”, an immediate lack of specifics left some investors wondering if the high-stakes meeting delivered more theatre than substance. China’s benchmark CSI 300 Index dropped 1.1 per cent on Friday for a second straight day of declines, with investors taking profits from a record-setting rally in tech stocks after Trump wrapped up his tour. For the week, the gauge slipped 0.3 per cent. The... https://www.scmp.com/economy/global-economy/article/3353655/trump-hails-fantastic-china-trade-deals-signalling-boeing-oil-sales?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3353655/trump-hails-fantastic-china-trade-deals-signalling-boeing-oil-sales?utm_source=rss_feed Fri, 15 May 2026 04:51:59 +0000 Kandy Wong,Ji Siqi Kandy Wong,Ji Siqi US President Donald Trump’s landmark visit to China comes as the US-Iran war disrupts global energy supplies, fuels economic uncertainty and adds fresh strain to Washington-Beijing ties. In the latest instalment of a series examining how rivalry, interdependence and geopolitical crises are reshaping the relationship between the two powers, we explore the intensifying US-China legal arms race. For years, global businesses have been struggling to navigate rising trade tensions between the United... https://www.scmp.com/economy/china-economy/article/3353567/us-china-trade-war-entering-worrying-new-phase-legal-arms-race?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3353567/us-china-trade-war-entering-worrying-new-phase-legal-arms-race?utm_source=rss_feed Thu, 14 May 2026 22:00:18 +0000 Sylvia Ma Sylvia Ma Kevin Warsh’s confirmation as the next chair of the United States Federal Reserve has fuelled debate over whether potential policy compromises with the administration of US President Donald Trump could undermine American financial credibility and inadvertently strengthen Chinese assets. The Senate confirmed Warsh as the 17th chair of the Fed on Wednesday in a 54-45 vote, mostly along bipartisan lines. He succeeds Jerome Powell, whose term expires on Friday, following a sustained pressure... https://www.scmp.com/economy/global-economy/article/3353558/china-set-benefit-new-us-fed-chair-kevin-warshs-policy-vision?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3353558/china-set-benefit-new-us-fed-chair-kevin-warshs-policy-vision?utm_source=rss_feed Thu, 14 May 2026 15:00:05 +0000 Nicholas Spiro Nicholas Spiro When US President Donald Trump last met President Xi Jinping in Busan, South Korea, on October 30 last year, the US Federal Reserve had just embarked on a monetary easing cycle. At the end of 2025, bond investors were betting that the Fed would continue reducing interest rates this year. Fast forward to today and the financial landscape is markedly different. While investors were still anticipating cuts in borrowing costs just before the war in Iran erupted at the end of February, they are now... https://www.scmp.com/opinion/world-opinion/article/3353499/trump-xi-summit-puts-us-vulnerabilities-display?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3353499/trump-xi-summit-puts-us-vulnerabilities-display?utm_source=rss_feed Thu, 14 May 2026 12:30:04 +0000 Xiaofei Xu,Frank Chen Xiaofei Xu,Frank Chen “Large Boeing orders” are expected as part of US President Donald Trump’s state visit to Beijing, Treasury Secretary Scott Bessent said on Thursday, adding that China and the US would discuss establishing a joint “board of trade” to manage commercial ties. When asked about the potential for deals in what have come to be known as the “three Bs” ­– Chinese purchases of beans, beef and Boeing aircraft ­– Bessent told CNBC: “I think we’re going to see the large Boeing orders.” The agreement, if... https://www.scmp.com/economy/global-economy/article/3353578/boeing-nears-large-china-orders-trump-and-xi-forge-new-trade-board-bessent?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3353578/boeing-nears-large-china-orders-trump-and-xi-forge-new-trade-board-bessent?utm_source=rss_feed Thu, 14 May 2026 10:35:16 +0000 Xinyi Wu Xinyi Wu The business executives accompanying US President Donald Trump on his state visit to Beijing this week are the wealthiest such delegation to visit China – holding a combined personal net worth of over US$1 trillion – an indication of continued interest in the country’s lucrative market despite strained bilateral ties. With Nvidia CEO Jensen Huang’s last-minute addition to the delegation, 17 executives from the technology, finance, aerospace and semiconductor sectors have joined Trump, who landed... https://www.scmp.com/economy/china-economy/article/3353490/trumps-trillion-dollar-business-delegation-looking-make-deals-china?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3353490/trumps-trillion-dollar-business-delegation-looking-make-deals-china?utm_source=rss_feed Thu, 14 May 2026 01:57:44 +0000 Alice Li Alice Li Some European companies operating in China are shifting more production to the country as part of broader supply chain adjustments in response to the US-Israeli war on Iran, according to a new survey by the EU Chamber of Commerce in China. The flash survey of European companies found that more than a quarter of firms had adjusted their supply chain strategies in China following the Middle East conflict, as higher energy and logistics costs weigh on operations. Six in 10 chemicals and petroleum... https://www.scmp.com/economy/global-economy/article/3353423/european-firms-china-rethink-supply-chains-iran-war-drives-costs-survey-finds?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3353423/european-firms-china-rethink-supply-chains-iran-war-drives-costs-survey-finds?utm_source=rss_feed Wed, 13 May 2026 10:30:06 +0000 Xinyi Wu,Yulu Ao Xinyi Wu,Yulu Ao Senior officials from China and the United States concluded their latest round of trade talks in Seoul after less than four hours on Wednesday, the briefest session since the two countries began holding talks last year. The seventh round of negotiations – led by Chinese Vice-Premier He Lifeng and US Treasury Secretary Scott Bessent – wrapped up just hours ahead of US President Donald Trump’s scheduled arrival in Beijing. The officials ended the session without speaking to the media, a departure... https://www.scmp.com/economy/global-economy/article/3353424/leaving-so-soon-us-china-hold-briefest-trade-talks-yet-leaders-summit?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3353424/leaving-so-soon-us-china-hold-briefest-trade-talks-yet-leaders-summit?utm_source=rss_feed Wed, 13 May 2026 09:09:29 +0000 Jeffrey D. Sachs Jeffrey D. Sachs The G7 economists’ memo from March and the IMF’s April report on global imbalances arrived at the same prescription: China’s current account surplus is excessive and should be cut by boosting consumption. The diagnosis is wrong. The world economy, especially emerging markets and developing economies, benefits from China’s high saving. A current account surplus is the excess of national saving over domestic investment. The saving is not lost; it is exported abroad in the form of net capital... https://www.scmp.com/opinion/china-opinion/article/3353281/why-world-needs-china-save-more-not-less?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3353281/why-world-needs-china-save-more-not-less?utm_source=rss_feed Wed, 13 May 2026 08:30:08 +0000 Mia Nurmamat Mia Nurmamat As trade wars and deadly conflicts expose Asia’s vulnerability to geopolitical shocks, Chinese policymakers and advisers are warning of an “urgent need” for the world’s biggest trading bloc to reshape regional energy and manufacturing supply chains. Members of the Beijing-backed Asia-Pacific framework must reduce their reliance on vulnerable shipping routes and use the certainty of collaboration to offset growing geopolitical uncertainty, the experts urged at a forum in China’s southern island... https://www.scmp.com/economy/global-economy/article/3353401/reshaping-rcep-china-advisers-urge-trade-overhaul-shield-bloc-global-shocks?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3353401/reshaping-rcep-china-advisers-urge-trade-overhaul-shield-bloc-global-shocks?utm_source=rss_feed Wed, 13 May 2026 07:11:11 +0000 Xiaofei Xu Xiaofei Xu Chinese and US trade delegations meeting in South Korea today are expected to focus on locking in deliverables for this week’s summit in Beijing rather than engaging in substantive negotiations, analysts said, as both sides race through talks hours before US President Donald Trump’s planned arrival in China. The two teams, led by Vice-Premier He Lifeng and US Treasury Secretary Scott Bessent, will meet in Seoul for one day, a departure from previous rounds that stretched over two days across... https://www.scmp.com/economy/china-economy/article/3353377/china-and-us-teams-race-find-easy-summit-deliverables-meeting-seoul?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3353377/china-and-us-teams-race-find-easy-summit-deliverables-meeting-seoul?utm_source=rss_feed Wed, 13 May 2026 04:59:47 +0000 Xinyi Wu,Yulu Ao Xinyi Wu,Yulu Ao Senior officials from China and the United States have started a new round of trade talks in Seoul, South Korea, hours ahead of US President Donald Trump’s scheduled arrival in Beijing. The delegations – led by Chinese Vice-Premier He Lifeng and US Treasury Secretary Scott Bessent – arrived at Terminal 1 of Incheon Airport around noon on Wednesday Seoul time. The two officials had both paid courtesy calls to South Korean President Lee Jae Myung in the morning. This is the seventh round of... https://www.scmp.com/economy/global-economy/article/3353224/china-us-trade-talks-kick-seoul-ahead-high-profile-leaders-summit?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3353224/china-us-trade-talks-kick-seoul-ahead-high-profile-leaders-summit?utm_source=rss_feed Wed, 13 May 2026 03:34:15 +0000 Coco Feng,Ji Siqi Coco Feng,Ji Siqi Nvidia CEO Jensen Huang has joined US President Donald Trump on his trip to China this week – boarding Air Force One during a stop en route to Beijing – with Trump dismissing earlier reports that the tech leader had been snubbed as “incorrect”. The White House confirmed that Huang had boarded Air Force One during a refuelling stop in Anchorage, Alaska. It added that Tesla and SpaceX CEO Elon Musk was also travelling on the presidential plane. “Jensen is attending the summit at the invitation of... https://www.scmp.com/economy/china-economy/article/3353346/nvidias-jensen-huang-joins-trumps-trip-china-after-all?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3353346/nvidias-jensen-huang-joins-trumps-trip-china-after-all?utm_source=rss_feed Wed, 13 May 2026 02:06:44 +0000 Kandy Wong Kandy Wong Australia’s mining giants are aiding China’s push to internationalise its currency and reduce the dominance of the US dollar, as they gradually shift towards using the yuan for financing and settlements, analysts said. China has been using its heft as the world’s dominant iron ore buyer to push global mining companies to adopt the yuan. And several firms are already making the switch, with China’s relatively low interest rates becoming an added incentive. BHP, the world’s largest mining company,... https://www.scmp.com/economy/china-economy/article/3353274/how-australias-mining-giants-are-helping-china-globalise-yuan?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3353274/how-australias-mining-giants-are-helping-china-globalise-yuan?utm_source=rss_feed Wed, 13 May 2026 01:00:14 +0000 Sylvia Ma,Kandy Wong Sylvia Ma,Kandy Wong US President Donald Trump’s landmark visit to China comes as the US-Iran war disrupts global energy supplies, fuels economic uncertainty and adds fresh strain to Washington-Beijing ties. In this story, part of a series examining how rivalry, interdependence and geopolitical crises are reshaping the relationship between the two powers, we explore how the countries’ standing in the world has changed – mostly to China’s benefit – since Trump’s previous trip. When US President Donald Trump unleashed... https://www.scmp.com/economy/global-economy/article/3353264/after-nearly-9-years-trump-landing-totally-different-china-he-ready?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3353264/after-nearly-9-years-trump-landing-totally-different-china-he-ready?utm_source=rss_feed Tue, 12 May 2026 22:00:13 +0000 Kandy Wong,Ji Siqi,Ralph Jennings Kandy Wong,Ji Siqi,Ralph Jennings Beyond high-profile names like Apple’s Tim Cook, a number of lesser-known CEOs joining US President Donald Trump on his trip to China this week represent industries caught in the crossfire of the trade war, analysts said, and are expected to push for deeper engagement rather than risk becoming a “geopolitical football”. Seventeen American CEOs have been invited in total, according to a list released by the White House on Monday – a smaller business delegation than in 2017, when 27 high-profile... https://www.scmp.com/economy/global-economy/article/3353312/trumps-cadre-ceos-hunts-wins-china-soybeans-semiconductors?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3353312/trumps-cadre-ceos-hunts-wins-china-soybeans-semiconductors?utm_source=rss_feed Tue, 12 May 2026 13:34:22 +0000 Sylvia Ma,Ann Cao Sylvia Ma,Ann Cao When US President Donald Trump’s delegation touches down in Beijing on Wednesday night, he looks to be flanked by a cadre of corporate executives, headlined by a man seen by much of the Chinese public as the most familiar American entrepreneur of his generation: Elon Musk. The Tesla and SpaceX chief’s presence alongside Trump for meetings with President Xi Jinping adds a distinctive commercial and personal layer to a diplomatically delicate trip. “Musk’s inclusion in Trump’s China delegation has... https://www.scmp.com/economy/global-economy/article/3353293/elon-musk-joins-trumps-beijing-delegation-natural-bridge-trade?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3353293/elon-musk-joins-trumps-beijing-delegation-natural-bridge-trade?utm_source=rss_feed Tue, 12 May 2026 13:30:07 +0000 Alice Li Alice Li With a fragile US-Iran ceasefire barely holding, the Strait of Hormuz still blockaded, and all eyes on the upcoming Trump-Xi meeting, investors are embracing a new market narrative: “Nacho”. The acronym – short for “Not a chance Hormuz opens” – reflects a growing bet on prolonged gridlock and high oil prices. This marks a sharp pivot from last year’s dominant trade tactic, “Taco” – “Trump always chickens out”, which was born in the chaos of Trump’s tariff blitz and relied on the assumption that... https://www.scmp.com/economy/china-economy/article/3353215/taco-nacho-new-buzzword-wall-street-amid-trumps-trip-china?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3353215/taco-nacho-new-buzzword-wall-street-amid-trumps-trip-china?utm_source=rss_feed Tue, 12 May 2026 03:09:49 +0000 Karen Tian Karen Tian Pakistan is poised to become the latest partner in a China-centred trading network, known as the Belt and Road Initiative, to sell “panda bonds”. Islamabad seeks to raise as much as US$250 million through its first-ever sale of the bonds – yuan-denominated debt instruments sold by foreign entities in mainland China’s onshore market – as early as this week. Finance Minister Muhammad Aurangzeb confirmed on Saturday that Islamabad was preparing to access Chinese capital markets with the sale – the... https://www.scmp.com/economy/global-economy/article/3353149/panda-power-pakistan-tap-china-debt-market-first-sale-yuan-priced-notes?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3353149/panda-power-pakistan-tap-china-debt-market-first-sale-yuan-priced-notes?utm_source=rss_feed Tue, 12 May 2026 02:00:14 +0000 Ann Cao,Ji Siqi Ann Cao,Ji Siqi US President Donald Trump’s landmark visit to China comes as the US-Iran war disrupts global energy supplies, fuels economic uncertainty and adds fresh strain to Washington-Beijing ties. In this story, part of a series examining how rivalry, interdependence and geopolitical crises are reshaping the relationship between the two powers, we examine how artificial intelligence (AI), chip controls and competing technology ecosystems are redefining US-China rivalry. Nvidia CEO Jensen Huang was the... https://www.scmp.com/economy/global-economy/article/3353180/chinas-ai-ascent-leaves-trump-stark-choice-escalate-or-relax-chip-controls?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3353180/chinas-ai-ascent-leaves-trump-stark-choice-escalate-or-relax-chip-controls?utm_source=rss_feed Mon, 11 May 2026 22:00:12 +0000 Carol Yang Carol Yang China’s shipyards have mounted an astonishing comeback after facing down US efforts to curb their dominance last year, as they saw orders for new vessels nearly double in the first quarter of 2026. Chinese shipbuilders received 59.53 million deadweight tonnes in new orders during the first three months of the year, a staggering 195.2 per cent increase compared with the same period last year, according to data released by the China Association of the National Shipbuilding Industry on... https://www.scmp.com/economy/china-economy/article/3353147/china-tightens-its-grip-global-shipbuilding-grabbing-85-new-orders?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3353147/china-tightens-its-grip-global-shipbuilding-grabbing-85-new-orders?utm_source=rss_feed Mon, 11 May 2026 14:30:06 +0000 Xinyi Wu Xinyi Wu The next round of US-China trade talks appears to be a rushed precursor intended to set the stage for President Donald Trump’s state visit to Beijing, according to analysts who expect only modest deliverables from the negotiations. Chinese Vice-Premier He Lifeng will meet US Treasury Secretary Scott Bessent in South Korea this week, both sides have confirmed, marking the latest in a series of diplomatic sprints intended to stabilise the world’s most consequential economic relationship. The... https://www.scmp.com/economy/global-economy/article/3353174/us-china-negotiations-seek-quick-seoul-search-deals-ahead-trumps-visit?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3353174/us-china-negotiations-seek-quick-seoul-search-deals-ahead-trumps-visit?utm_source=rss_feed Mon, 11 May 2026 13:00:09 +0000 Daniel Ren Daniel Ren The pace of electrification on western Europe’s roads is likely to fire up sales of Chinese-developed smart cars, where they could command a 20 per cent share of the regional market in 2028 at the expense of local peers, according to a JPMorgan forecast. Chinese carmakers from BYD, the world’s largest electric vehicle (EV) builder, to Stallentis-backed Leapmotor, were expected to deliver 2.5 million cars to customers in countries like Germany, Italy, France and the United Kingdom in 2028, a... https://www.scmp.com/business/china-business/article/3353170/chinese-smart-cars-set-control-20-western-european-market-2028-jpmorgan?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3353170/chinese-smart-cars-set-control-20-western-european-market-2028-jpmorgan?utm_source=rss_feed Mon, 11 May 2026 11:56:52 +0000 Frank Chen Frank Chen China’s flagship civilian aircraft maker is planning to upgrade the cabin capacity of its C919 narrowbody airliner to improve passenger experience and boost the plane’s chances of challenging the Boeing-Airbus duopoly, a source with knowledge of the plans said. Bigger overhead luggage compartments and drip-proof air conditioning outlets are among the design upgrades being sketched out by the Commercial Aircraft Corporation of China (Comac). “Comac has realised it must make passengers as... https://www.scmp.com/economy/china-economy/article/3352901/chinas-comac-looking-upgrade-c919-flying-experience-more-cabin-luggage-capacity?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3352901/chinas-comac-looking-upgrade-c919-flying-experience-more-cabin-luggage-capacity?utm_source=rss_feed Sun, 10 May 2026 08:00:12 +0000