https://www.scmp.com/rss/270481/feed State-owned enterprises (SOEs) are legal entities that undertake commercial activities on behalf of an owner, which is the government of the country where the firm is based and operates. In China, they contribute 60 per cent of gross domestic product, 80 per cent of urban employment and provide 90 per cent of new jobs. Critics say SOEs distort markets and do not allow for a level playing field for overseas companies. Beijing’s subsidies for its SOEs have been one of the major roadblocks to... en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Yulu Ao Yulu Ao China Resources Power (CRP), one of the largest mainland power producers listed in Hong Kong, has received approval to spin off its renewable energy arm for a separate listing in Shenzhen, marking a key step in a years-long plan to tap capital markets amid strong demand for new energy. The Shenzhen Stock Exchange’s listing committee approved the proposed A-share offering of China Resources New Energy Holdings on April 28, according to a filing by CRP. The deal, however, still required... https://www.scmp.com/business/banking-finance/article/3351785/china-resources-power-wins-shenzhen-nod-renewable-energy-units-listing?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3351785/china-resources-power-wins-shenzhen-nod-renewable-energy-units-listing?utm_source=rss_feed Wed, 29 Apr 2026 04:15:10 +0000 Xiaofei Xu,Finbarr Bermingham Xiaofei Xu,Finbarr Bermingham Chinese railway giant CRRC has been forced out of a Lisbon metro contract in favour of a Polish firm, after a European Commission investigation found that foreign subsidies allowed CRRC to underbid rivals. “The in-depth investigation confirmed these preliminary findings, revealing that the subsidies in question had indeed given the consortium an unfair competitive edge, to the detriment of other bidders taking part in the tender and the integrity of the EU’s internal market,” the European... https://www.scmp.com/economy/global-economy/article/3350912/chinas-crrc-drops-bid-lisbon-metro-deal-eu-finds-billions-subsidies-probe?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3350912/chinas-crrc-drops-bid-lisbon-metro-deal-eu-finds-billions-subsidies-probe?utm_source=rss_feed Tue, 21 Apr 2026 12:36:39 +0000 Xinyi Wu Xinyi Wu China’s state assets watchdog has established a new department to oversee foreign investments, as firms continue to expand their global footprint amid an increasingly turbulent geopolitical outlook. The new bureau, launched by the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) on Wednesday, will guide state-owned enterprises in their international operations, according to its website. It will also be responsible for helping firms optimise and... https://www.scmp.com/economy/china-economy/article/3349496/china-strengthens-oversight-state-owned-assets-overseas-amid-global-tensions?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3349496/china-strengthens-oversight-state-owned-assets-overseas-amid-global-tensions?utm_source=rss_feed Thu, 09 Apr 2026 08:00:12 +0000 Phoebe Zhang Phoebe Zhang Chinese President Xi Jinping has called for developing the Xiongan New Area into an innovation hub to drive high-quality growth. Xi made the call on Monday during his first inspection tour of the “city of the future” following the “two sessions” annual parliamentary meetings and the launch of China’s 15th five-year plan. The state-level megacity in Hebei province, about 100km (62 miles) southwest of Beijing, is Xi’s signature project aimed at taking the urban pressure off the capital. Xi visited... https://www.scmp.com/news/china/politics/article/3347690/xi-jinping-pushes-xiongan-embrace-science-and-technology-build-city-future?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3347690/xi-jinping-pushes-xiongan-embrace-science-and-technology-build-city-future?utm_source=rss_feed Tue, 24 Mar 2026 07:29:46 +0000 Kandy Wong Kandy Wong China has included two pipelines transporting natural gas from Russia in the draft of its new five-year plan, raising market debate on whether the Power of Siberia 2 – a closely watched project viewed as symbolic of bilateral relations – could be on the fast track for construction. Along with language on two other pipelines, the draft said China would “advance preparatory work for the central route of the China-Russia natural gas pipeline” in the next five years, which some market observers... https://www.scmp.com/economy/china-economy/article/3345920/more-gas-russia-china-flags-new-pipeline-links-amid-iran-energy-crisis?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345920/more-gas-russia-china-flags-new-pipeline-links-amid-iran-energy-crisis?utm_source=rss_feed Mon, 09 Mar 2026 08:01:15 +0000 Ben Jiang,Wency Chen Ben Jiang,Wency Chen China has pledged to provide a range of supportive measures to promote the diffusion of advanced technology through all levels of the country’s economy, as Beijing seeks to strengthen frontier industries such as artificial intelligence amid an intensifying rivalry with the United States. In its annual work report, the government urged state-owned enterprises to take the lead in opening their vast industrial ecosystems to emerging technologies, and vowed to supply the necessary funding for all... https://www.scmp.com/tech/article/3345595/china-put-state-owned-firms-capital-work-nurturing-tech-champions?utm_source=rss_feed https://www.scmp.com/tech/article/3345595/china-put-state-owned-firms-capital-work-nurturing-tech-champions?utm_source=rss_feed Thu, 05 Mar 2026 22:00:09 +0000 Xinyi Wu Xinyi Wu Ahead of China’s annual legislative meetings – typically a window into Beijing’s top-level policy agenda – this is the fourth entry in a series examining the complex economic recalibration driving China’s growth philosophy and its wide-ranging implications for local governments, financial investors and private enterprises. China’s private businesses, many still facing cash flow problems amid a prolonged property slump, want treasury bonds and legal obligations on state-owned enterprises and... https://www.scmp.com/economy/china-economy/article/3344906/whats-wish-list-chinas-private-sector-ahead-two-sessions?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3344906/whats-wish-list-chinas-private-sector-ahead-two-sessions?utm_source=rss_feed Mon, 02 Mar 2026 03:00:10 +0000 Julie Zhang,Yulu Ao Julie Zhang,Yulu Ao Until last year, Fidelity International’s most significant cornerstone commitments on the Hong Kong initial public offering (IPO) market dated back to 2021, when Chinese short-video platform Kuaishou Technology raised US$5.4 billion and healthcare firm Medlive Technology completed a US$543.4 million listing. Then for the next four years, the asset manager went quiet. Late last year it returned to Chinese assets in force. It backed gold miner Zijin Gold International’s US$3.2 billion listing in... https://www.scmp.com/business/banking-finance/article/3344890/big-cornerstone-comeback-whats-driving-investors-back-hong-kong-ipos?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3344890/big-cornerstone-comeback-whats-driving-investors-back-hong-kong-ipos?utm_source=rss_feed Sat, 28 Feb 2026 02:00:57 +0000 Reuters Reuters An Indonesian court has jailed nine people in a major corruption case involving subsidiaries of state energy firm Pertamina, including two former chief executives of its units, which prosecutors say caused US$17 billion in state losses. The case, which centres on alleged illegal leasing of a fuel terminal and illegal imports of crude oil, among other offences, is one of the biggest launched under the administration of President Prabowo Subianto, who has vowed to eradicate corruption. The nine... https://www.scmp.com/news/asia/southeast-asia/article/3344808/pertamina-corruption-trial-9-jailed-indonesia-over-us17-billion-state-loss?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3344808/pertamina-corruption-trial-9-jailed-indonesia-over-us17-billion-state-loss?utm_source=rss_feed Fri, 27 Feb 2026 03:23:18 +0000 Vincent Chow Vincent Chow Chinese analysts and investors have expressed scepticism about a viral report by a small US research outfit that triggered a major sell-off on Wall Street, saying China could be largely immune to major artificial intelligence disruption, given the low level of digital penetration in the country’s traditional institutions. Citrini Research’s report, published on Sunday, included references to the impact of China’s AI advances. The translated version of the report was widely circulated in Chinese... https://www.scmp.com/tech/tech-trends/article/3344476/chinese-investors-and-analysts-shrug-ai-fears-after-citrini-report-sparks-us-sell?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3344476/chinese-investors-and-analysts-shrug-ai-fears-after-citrini-report-sparks-us-sell?utm_source=rss_feed Tue, 24 Feb 2026 14:15:07 +0000 Cao Li Cao Li China’s commercial real estate stress will force some Hong Kong banks with significant exposure to the sector to set aside additional reserves for potentially higher non-performing loans, which could weigh on their second-half 2025 earnings, according to Citi. In a report on Tuesday, Citi Research said Bank of China (Hong Kong) (BOCHK), the Hong Kong subsidiary of state-owned Bank of China, and Bank of East Asia (BEA) had the highest exposure to China’s commercial real estate, which is under... https://www.scmp.com/business/banking-finance/article/3343080/chinas-property-woes-likely-hurt-some-hong-kong-banks-2025-earnings-citi?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3343080/chinas-property-woes-likely-hurt-some-hong-kong-banks-2025-earnings-citi?utm_source=rss_feed Tue, 10 Feb 2026 11:28:24 +0000 Robin Hu Robin Hu I pay far less attention to China’s growth numbers today. What matters more is where fiscal capacity is flowing. China has entered a phase where population ageing, security needs and industrial upgrading all draw on the same budget. This shift follows a structural adjustment in property. Income from land sales – once a pillar of local government finance – has fallen sharply and is unlikely to return. Balance sheets will have to be reset. The question is no longer how much stimulus Beijing can... https://www.scmp.com/opinion/china-opinion/article/3342057/chinas-real-constraint-where-direct-limited-fiscal-resources?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3342057/chinas-real-constraint-where-direct-limited-fiscal-resources?utm_source=rss_feed Tue, 03 Feb 2026 08:30:38 +0000 Mia Nurmamat Mia Nurmamat China is tightening approvals for intercity railways and urban metro projects – long-standing pillars of fixed-asset investment – as policymakers pay closer attention to debt risks while shifting the growth model towards consumption. The move comes as President Xi Jinping has specifically flagged operational strains at some high-speed rail stations and subway lines – a sign that the old growth driver may be further curtailed in the coming years. According to an online statement on Sunday by the... https://www.scmp.com/economy/china-economy/article/3341412/china-tightens-rail-approvals-xi-warns-overbuilding-waste-and-operational-trouble?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3341412/china-tightens-rail-approvals-xi-warns-overbuilding-waste-and-operational-trouble?utm_source=rss_feed Tue, 27 Jan 2026 10:00:10 +0000 Khushboo Razdan Khushboo Razdan In 2025, even as US President Donald Trump sought to stabilise trade ties with Beijing, two Republican-led states were moving in the opposite direction, securing nearly US$50 billion in federal lawsuits for what they say was economic damage caused by China’s deliberate stripping of US hospitals and businesses of essential Covid-19 supplies. Using a new reading of the “commercial activity” exception to a 50-year-old US law that generally blocks lawsuits against foreign governments, a federal... https://www.scmp.com/news/china/diplomacy/article/3339384/why-lawsuits-wont-cure-pandemics-financial-ills-between-us-states-and-chinese-government?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3339384/why-lawsuits-wont-cure-pandemics-financial-ills-between-us-states-and-chinese-government?utm_source=rss_feed Fri, 09 Jan 2026 15:59:08 +0000 Daniel Ren Daniel Ren Beijing has given the green light to an asset-restructuring deal involving the country’s largest oil refiner and a leading distributor of jet fuel, continuing efforts to streamline operations of major state-owned juggernauts. China Petroleum and Chemical Corp, better known as Sinopec, and China National Aviation Fuel Group (CNAF) will conduct a revamp of their assets after receiving the nod from the State Council, the State-owned Assets Supervision and Administration Commission (SASAC) said in a... https://www.scmp.com/business/banking-finance/article/3339225/chinas-oil-giants-sinopec-cnaf-undergo-consolidation-creating-energy-powerhouse?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3339225/chinas-oil-giants-sinopec-cnaf-undergo-consolidation-creating-energy-powerhouse?utm_source=rss_feed Thu, 08 Jan 2026 13:34:35 +0000 Mark Andrews Mark Andrews China’s car industry is expected to stagnate this year as it tries to catch its breath after years of growth. New energy vehicles (NEVs) are likely to continue increasing their market share but growth will be much lower than in recent years, with the penetration rate reaching around 60 per cent. “Involution” was the major theme last year, and despite efforts by the government and manufacturers, the situation is unlikely to improve until the second half of the year, due to a tepid economy and a... https://www.scmp.com/opinion/china-opinion/article/3338636/innovation-and-exports-will-winnow-chinas-car-industry-2026?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3338636/innovation-and-exports-will-winnow-chinas-car-industry-2026?utm_source=rss_feed Tue, 06 Jan 2026 08:30:09 +0000 Aileen Chuang Aileen Chuang China’s mergers and acquisitions (M&A) market is poised for another year of growth as investors regain confidence in the country’s assets and long-term growth prospects, and look beyond geopolitical and economic headwinds, according to industry experts. Investor optimism in 2026 would build on a deeper understanding of risks associated with regulatory restrictions, improved market conditions and success stories in the past year, said Kevin Yu Zhe, Shanghai-based partner at Zhong Lun Law... https://www.scmp.com/business/banking-finance/article/3338262/chinas-ma-market-poised-2026-expansion-investors-regain-confidence-assets?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3338262/chinas-ma-market-poised-2026-expansion-investors-regain-confidence-assets?utm_source=rss_feed Fri, 02 Jan 2026 00:30:09 +0000 Daniel Ren Daniel Ren Stellantis-backed Zhejiang Leapmotor Technology has become the first Chinese electric vehicle (EV) manufacturer to receive investment from a state-owned enterprise amid the strong popularity of its affordable intelligent cars. FAW Group, mainland China’s oldest carmaker, has agreed to acquire a 5 per cent stake in the Hong Kong-listed EV assembler for 3.74 billion yuan (US$534 million) by buying an additional 74.8 million shares at HK$55.29 apiece, according to a stock exchange filing by... https://www.scmp.com/business/china-evs/article/3338006/chinas-faw-buys-us534-million-stake-leapmotor-ev-firm-sees-deliveries-jump-2026?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3338006/chinas-faw-buys-us534-million-stake-leapmotor-ev-firm-sees-deliveries-jump-2026?utm_source=rss_feed Mon, 29 Dec 2025 07:31:46 +0000 Carol Yang Carol Yang President Xi Jinping has instructed central state-owned enterprises (SOEs) to serve as the bedrock of national development, urging them to drive industrial upgrading and secure critical technologies in the next phase of China’s growth. “Central SOEs must fully recognise the responsibilities and missions they shoulder and better serve the overall priorities of the party and the state,” he stressed in remarks conveyed to a meeting of central SOE leaders in Beijing on Monday and Tuesday, though he... https://www.scmp.com/economy/china-economy/article/3337577/chinas-xi-urges-state-giants-be-pillars-national-development?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3337577/chinas-xi-urges-state-giants-be-pillars-national-development?utm_source=rss_feed Wed, 24 Dec 2025 04:48:15 +0000 Mandy Zuo Mandy Zuo While China continues to produce many young self-made billionaires, showcasing its economic dynamism, observers have urged the creation of a more supportive environment, saying that innovation is still being held back. About 98 per cent of the super-rich in mainland China, with assets valued at US$1 billion or more, are relatively young first-generation entrepreneurs, reflecting the vitality and wealth-creation power of its economy, Swiss bank UBS said in a recent report. However, Beijing’s... https://www.scmp.com/economy/china-economy/article/3336231/chinas-growing-young-billionaire-class-masks-innovation-hurdles-analysts-say?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3336231/chinas-growing-young-billionaire-class-masks-innovation-hurdles-analysts-say?utm_source=rss_feed Sun, 14 Dec 2025 03:00:17 +0000 Kun Tian Kun Tian China’s latest credit figures have raised eyebrows, but they need not raise alarm. New bank lending, aggregate social financing and total credit growth all came in weaker than expected for October, marking their softest readings in more than a year. For markets conditioned to expect Beijing to counter every slowdown with a surge of liquidity, the numbers may suggest a worrying loss of momentum. But that reading misses the broader structural shift under way. The data reflects not a collapse, but... https://www.scmp.com/opinion/china-opinion/article/3334138/chinas-shrinking-credit-reflects-financial-reset-not-collapse?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3334138/chinas-shrinking-credit-reflects-financial-reset-not-collapse?utm_source=rss_feed Wed, 03 Dec 2025 08:30:09 +0000 Mia Nurmamat Mia Nurmamat China’s state-asset watchdog has urged the country’s state-owned enterprises (SOEs) to act as an anchor for strategic industries, while also calling for a predictable, level playing field for private firms – a combination it said was essential for building world-class businesses. Zhang Yuzhuo, chairman of China’s State-owned Assets Supervision and Administration Commission (SASAC), outlined Beijing’s latest push to strengthen both the state and private sectors in an article published on Monday... https://www.scmp.com/economy/china-economy/article/3334750/beijing-aims-harness-state-private-sectors-build-world-class-firms?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3334750/beijing-aims-harness-state-private-sectors-build-world-class-firms?utm_source=rss_feed Mon, 01 Dec 2025 07:53:27 +0000 Carol Yang Carol Yang China has announced plans to consolidate the cruise operations of four central state-owned enterprises into a single entity that will reportedly operate the largest fleet in Asia, as part of a broader efficiency drive. China Tourism Group – one of the four companies – was designated as the operator of the venture at a signing ceremony hosted by China’s state-owned enterprises watchdog on Friday, according to state broadcaster CCTV. After the deal goes through, the venture will operate Asia’s... https://www.scmp.com/economy/china-economy/article/3333950/chinas-cruise-industry-makes-waves-new-deal-creates-asias-largest-fleet?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3333950/chinas-cruise-industry-makes-waves-new-deal-creates-asias-largest-fleet?utm_source=rss_feed Tue, 25 Nov 2025 00:00:17 +0000 Andrew Sheng Andrew Sheng In 2004, Joshua Cooper Ramo, now co-CEO of Kissinger Associates, coined the term “Beijing Consensus” as an alternative to the Washington Consensus, the neoliberal framework of economic policies devised in the 1980s by the International Monetary Fund, World Bank and US Treasury. China had just joined the World Trade Organization and, within the country, there was considerable scepticism that a Beijing Consensus existed. Come 2007, and as the global financial crisis broke out – first with the US... https://www.scmp.com/opinion/china-opinion/article/3333564/rise-beijing-led-global-south-consensus?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3333564/rise-beijing-led-global-south-consensus?utm_source=rss_feed Fri, 21 Nov 2025 21:30:08 +0000 Ralph Jennings Ralph Jennings China’s lending since the turn of the century has been “vastly” larger than previously understood, with loans and grants increasingly going to developed countries including the United States – the largest recipient – according to a new report by an American university research team. Of the US$2.2 trillion disbursed by China’s “official sector” between 2000 and 2023, nearly US$202 billion went to projects in the US, the AidData research lab at Virginia-based university William & Mary found. “Our... https://www.scmp.com/economy/china-economy/article/3333569/china-has-lent-more-us-any-other-country-2000-report-finds?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3333569/china-has-lent-more-us-any-other-country-2000-report-finds?utm_source=rss_feed Thu, 20 Nov 2025 22:00:17 +0000 Frank Tang Frank Tang Nicholas Lardy is a non-resident senior fellow at the Peterson Institute for International Economics and a member of the Council on Foreign Relations, both Washington-based think tanks. He has studied the Chinese economy extensively, publishing several books on its growth and development since the late 1970s. His most recent, 2019’s The State Strikes Back, posits a rollback of Beijing’s economic reforms via renewed government intervention in the market. SCMP Plus readers get early access to... https://www.scmp.com/plus/article/3333495/nicholas-lardy-chinas-unique-economic-advantage?utm_source=rss_feed https://www.scmp.com/plus/article/3333495/nicholas-lardy-chinas-unique-economic-advantage?utm_source=rss_feed Thu, 20 Nov 2025 05:15:08 +0000 Mia Nurmamat Mia Nurmamat Amid a heated diplomatic row between Beijing and Tokyo which has shown no signs of cooling off, several employees of China’s state-owned enterprises have been advised to scrap their immediate travel plans to Japan, they told the Post on condition of anonymity. One of them, an engineer at a state-owned firm in the central Chinese city of Wuhan, received an unexpected phone call on Tuesday. It was his company’s administrative office, urging him to cancel his coming holiday. Like employees at many... https://www.scmp.com/economy/china-economy/article/3333417/chinese-soes-ask-workers-cancel-their-japan-holidays-amid-diplomatic-row?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3333417/chinese-soes-ask-workers-cancel-their-japan-holidays-amid-diplomatic-row?utm_source=rss_feed Wed, 19 Nov 2025 11:00:11 +0000 Resty Woro Yuniar Resty Woro Yuniar Indonesia’s anti-corruption watchdog has launched a preliminary investigation into the construction of the US$7.3 billion Jakarta–Bandung High-speed Railway that analysts say could implicate senior figures in the administration of former president Joko Widodo. The Corruption Eradication Commission (KPK) confirmed last week that it was gathering evidence related to alleged irregularities in how the China-funded project, popularly known as “Whoosh”, was awarded and managed. “The investigation into... https://www.scmp.com/week-asia/economics/article/3331489/indonesias-china-funded-whoosh-railway-faces-corruption-probe?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3331489/indonesias-china-funded-whoosh-railway-faces-corruption-probe?utm_source=rss_feed Tue, 04 Nov 2025 10:30:09 +0000 Xinyi Wu,Carol Yang Xinyi Wu,Carol Yang Xiongan, China’s “city of the future” – a project years in the making, championed by President Xi Jinping – is slowly coming to life, as major state-owned enterprises (SOEs) begin relocating to the new metropolis in Hebei province. Sinochem Holdings and China Huaneng Group are among the latest to officially relocate their headquarters to Xiongan this month, each bringing about 1,000 employees, according to local authorities. They join other SOEs like Beijing-Tianjin-Hebei Railway Company, which... https://www.scmp.com/economy/china-economy/article/3329950/chinas-soes-breathe-life-xi-jinpings-city-future-xiongan?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3329950/chinas-soes-breathe-life-xi-jinpings-city-future-xiongan?utm_source=rss_feed Wed, 22 Oct 2025 14:00:09 +0000 Resty Woro Yuniar Resty Woro Yuniar Indonesia is opening the door for foreigners to lead state-owned enterprises (SOEs), a landmark move that President Prabowo Subianto has said will bring international expertise to the country’s corporate sector, even as critics warn about a lack of oversight and accountability. Speaking during the Forbes Global CEO Conference in Jakarta last week, Prabowo said a law on SOEs had been revised to allow non-Indonesians to assume top positions in the sector with roughly 1,000 state firms. “I’ve... https://www.scmp.com/week-asia/economics/article/3329954/can-foreigners-lead-indonesias-state-firms-and-make-them-world-beaters?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3329954/can-foreigners-lead-indonesias-state-firms-and-make-them-world-beaters?utm_source=rss_feed Wed, 22 Oct 2025 10:20:43 +0000 Vincent Chow Vincent Chow State-owned telecom giant China Mobile announced plans to use only homegrown chips for the nation’s largest artificial intelligence computing network by 2028, accelerating China’s efforts to become a leader in AI and reduce its reliance on foreign technology. China Mobile chairman Yang Jie outlined the ambitious target at the company’s Global Partners Conference in Guangzhou on Saturday. The telco, he said, planned to double its investment in AI and explore the construction of a computing... https://www.scmp.com/business/article/3328842/china-mobile-aims-triple-ai-computing-power-using-homegrown-chips-2028?utm_source=rss_feed https://www.scmp.com/business/article/3328842/china-mobile-aims-triple-ai-computing-power-using-homegrown-chips-2028?utm_source=rss_feed Mon, 13 Oct 2025 13:00:08 +0000 Luna Sun Luna Sun As China drafts its 15th five-year plan – the next entry in a line of expansive blueprints that have set the tone for the country’s development over more than seven decades – we examine how these documents inform and reflect high-level policy priorities, what to expect in the coming iteration and whether the private sector will receive the level of support entrepreneurs are hoping for. For more stories in this ongoing series, click here. To view SCMP Plus Factsheets on the 15th five-year-plan... https://www.scmp.com/economy/china-economy/article/3328026/china-planning-5-year-honeymoon-its-private-firms-will-they-feel-love?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3328026/china-planning-5-year-honeymoon-its-private-firms-will-they-feel-love?utm_source=rss_feed Mon, 06 Oct 2025 22:00:07 +0000 Reuters Reuters The US Supreme Court declined on Monday to hear another bid by Turkey’s state-owned lender Halkbank to avoid fraud, money laundering and conspiracy charges in the United States for allegedly helping Iran evade American economic sanctions. The justices turned away Halkbank’s appeal of a lower court’s ruling that let the criminal case brought by the US government proceed, allowing that decision to stand. Halkbank shares closed 10 per cent lower in Istanbul after the news. The Supreme Court in 2023... https://www.scmp.com/news/world/united-states-canada/article/3328054/us-supreme-court-rejects-challenge-turkeys-halkbank-prosecution?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3328054/us-supreme-court-rejects-challenge-turkeys-halkbank-prosecution?utm_source=rss_feed Mon, 06 Oct 2025 18:22:46 +0000 Coco Feng Coco Feng Huawei Technologies founder and CEO Ren Zhengfei this week met Yang Qing, chairman of state-owned Dongfeng Motor, in Shenzhen with the goal of deepening collaboration in China’s electric vehicle (EV) sector. The meeting on Monday between Ren, 80, and Yang involved an exchange of “views on industry competition dynamics and corporate mechanism innovation”, according to a statement released on Tuesday by Dongfeng – founded in 1969 and based in Wuhan, the capital of central Hubei province. During... https://www.scmp.com/tech/big-tech/article/3326556/huaweis-ren-zhengfei-dongfeng-motors-yang-qing-discuss-deeper-collaboration-evs?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3326556/huaweis-ren-zhengfei-dongfeng-motors-yang-qing-discuss-deeper-collaboration-evs?utm_source=rss_feed Tue, 23 Sep 2025 12:00:11 +0000 Carol Yang Carol Yang From giant dams to sprawling railways, Beijing has pledged to step up investments along the so-called roof of the world, led by state-owned enterprises, as China marks the 60th anniversary of the Tibet autonomous region’s establishment. The State-owned Assets Supervision and Administration Commission (Sasac), China’s top state asset regulator, is calling for more targeted measures to boost industries, with more capital flowing into grass-roots projects and a greater promotion of cultural and... https://www.scmp.com/economy/china-economy/article/3323352/china-elevates-infrastructure-push-tibet-aiming-raise-investments-worlds-roof?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3323352/china-elevates-infrastructure-push-tibet-aiming-raise-investments-worlds-roof?utm_source=rss_feed Wed, 27 Aug 2025 10:00:18 +0000 Ben Jiang Ben Jiang Kylin Software, a unit of state-owned China Electronics Corp, on Tuesday unveiled V11, the latest version of its operating system (OS) that features AI capabilities and extensive support for locally designed semiconductors. V11 provided deep artificial intelligence integration that brought out a “smart and efficient” experience for office use, while delivering expanded compatibility with a range of Chinese-designed and developed integrated circuits, the company said during its product launch at... https://www.scmp.com/tech/tech-war/article/3323222/tech-war-kylin-upgrades-operating-system-ai-support-chinese-semiconductors?utm_source=rss_feed https://www.scmp.com/tech/tech-war/article/3323222/tech-war-kylin-upgrades-operating-system-ai-support-chinese-semiconductors?utm_source=rss_feed Tue, 26 Aug 2025 12:00:17 +0000 He Huifeng He Huifeng China has released a breakdown of the subsidy settlements for new-energy vehicle (NEV) companies from 2016 to 2020, along with the allocation plan for 2021 to 2022, and the data helps illustrate how the industry landscape shifted during those years. According to data released by the Ministry of Industry and Information Technology (MIIT) earlier this month, over the seven years from 2016 to 2022, subsidies gradually moved from traditional state-owned enterprises to leading carmakers and emerging... https://www.scmp.com/economy/china-economy/article/3322666/china-reveals-past-ev-subsidies-tesla-state-giants-where-did-money-go?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3322666/china-reveals-past-ev-subsidies-tesla-state-giants-where-did-money-go?utm_source=rss_feed Thu, 21 Aug 2025 11:30:09 +0000 Daniel Ren Daniel Ren FAW Group, mainland China’s oldest carmaker, plans to acquire a 10 per cent stake in Stellantis-backed electric vehicle (EV) maker Leapmotor, as the state-owned automotive giant looks to enhance its competitiveness in the segment, according to Cailian, a Shanghai-based financial news outlet. The investment would pave the way for the two companies to jointly develop new EV models, fine-tune supply-chain management and bolster overseas expansion, the report said. Leapmotor declined to comment,... https://www.scmp.com/business/china-business/article/3322527/faw-chinas-oldest-carmaker-eyes-10-leapmotor-boost-stake-ev-surge?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3322527/faw-chinas-oldest-carmaker-eyes-10-leapmotor-boost-stake-ev-surge?utm_source=rss_feed Wed, 20 Aug 2025 11:00:08 +0000 An excerpt An excerpt The First Fools: B-Sides of Lee Kuan Yew’s A-Team is a new anthology about Singapore’s founding leaders. In this excerpt, author Aaron Low spotlights Goh Keng Swee – widely remembered as Singapore’s first finance minister and economic architect – whose lesser-known role as one of the country’s most influential businessmen saw him create a network of state-linked firms that helped define Brand Singapore. Entrepreneurs start businesses for many reasons. Some do it because of the firm belief that... https://www.scmp.com/week-asia/people/article/3320482/how-singapores-economic-architect-goh-keng-swee-shaped-its-state-linked-giants?utm_source=rss_feed https://www.scmp.com/week-asia/people/article/3320482/how-singapores-economic-architect-goh-keng-swee-shaped-its-state-linked-giants?utm_source=rss_feed Sun, 03 Aug 2025 02:00:17 +0000 Wency Chen Wency Chen China’s humanoid robots took centre stage at the World Artificial Intelligence Conference (WAIC) in Shanghai, where leading manufacturers, component suppliers and AI firms showed the country’s grand ambitions in the fast-developing robotics industry. WAIC’s exhibition, which concluded on Tuesday, featured robots engaged in various activities, built by some of the country’s major manufacturers including AgiBot, Unitree Robotics, Fourier Intelligence, Keenon Robotics, Galbot, Deep Robotics,... https://www.scmp.com/tech/big-tech/article/3320016/waic-shanghai-chinas-humanoid-robots-put-show-teslas-optimus-kept-behind-glass?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3320016/waic-shanghai-chinas-humanoid-robots-put-show-teslas-optimus-kept-behind-glass?utm_source=rss_feed Tue, 29 Jul 2025 13:00:10 +0000 Resty Woro Yuniar Resty Woro Yuniar Indonesia must tighten oversight of Chinese-funded infrastructure projects to maximise their economic benefits while guarding against debt risk, environmental harm and lack of transparency, according to a new report by leading policy researchers. The study by US-based AidData and Indonesian think tank Foreign Policy Talks draws on more than two decades of investment data and urges Jakarta to play a more assertive role in ensuring that such projects deliver long-term public benefit. While the... https://www.scmp.com/week-asia/economics/article/3318306/how-indonesia-can-maximise-benefits-chinese-investments?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3318306/how-indonesia-can-maximise-benefits-chinese-investments?utm_source=rss_feed Wed, 16 Jul 2025 03:00:12 +0000 Wency Chen Wency Chen Unitree Robotics’ founder and CEO Wang Xingxing on Tuesday said that China’s humanoid robots have seized the attention of “people from around the world” who are now willing to buy them. The 35-year-old Wang shared his assessment of the industry at a government-hosted press conference in Beijing, where he forecast China’s robotics sector would expand at a rapid pace this year. He added that Unitree – one of the six “Little Dragons” from tech hub Hangzhou, capital of eastern Zhejiang province –... https://www.scmp.com/tech/policy/article/3318333/chinese-humanoid-robot-maker-unitree-sees-significant-delivery-growth-2025?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3318333/chinese-humanoid-robot-maker-unitree-sees-significant-delivery-growth-2025?utm_source=rss_feed Tue, 15 Jul 2025 13:00:11 +0000 Coco Feng Coco Feng China’s fast-developing humanoid robot market segment is seeing demand from enterprises gather speed, as prominent start-ups AgiBot and Unitree Robotics have landed orders totalling 124 million yuan (US$17.3 million) from state-owned China Mobile, the world’s largest telecommunications firm by number of subscribers. That order from China Mobile’s subsidiary in Hangzhou, capital of eastern Zhejiang province, involves the supply of 78 million yuan worth of full-size humanoid robots from AgiBot and... https://www.scmp.com/tech/tech-trends/article/3318152/robot-makers-agibot-unitree-and-ubtech-land-more-orders-chinese-enterprises?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3318152/robot-makers-agibot-unitree-and-ubtech-land-more-orders-chinese-enterprises?utm_source=rss_feed Mon, 14 Jul 2025 12:00:12 +0000 Xinmei Shen Xinmei Shen The Shanghai branch of the regulator overseeing the assets of state-owned enterprises (SOEs) called on these organisations to explore the potential role of stablecoins and other digital assets in trade. The State-owned Assets Supervision and Administration Commission (SASAC) in Shanghai said SOEs must “maintain a keen awareness of emerging technologies” and strengthen research on digital currencies, according to the agency’s statement on Friday. The statement followed SASAC’s study session on... https://www.scmp.com/tech/blockchain/article/3317902/chinas-state-asset-watchdog-explores-potential-role-stablecoins-other-digital-assets?utm_source=rss_feed https://www.scmp.com/tech/blockchain/article/3317902/chinas-state-asset-watchdog-explores-potential-role-stablecoins-other-digital-assets?utm_source=rss_feed Fri, 11 Jul 2025 13:00:08 +0000 David Tingxuan Zhang David Tingxuan Zhang Amid a prolonged economic transition, China’s growth engine is shedding its old gears. The heyday of real estate expansion is over. Urban home prices have lost their relentless upwards march and local governments, once flush with land revenues, are confronting fiscal strain. It is tempting to declare this the end of the land finance era, a long-anticipated turning point that will force Beijing to adopt a more sustainable fiscal model. Yet such a conclusion would be premature. For all the... https://www.scmp.com/opinion/china-opinion/article/3317446/why-land-and-property-remain-core-chinas-economic-transition?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3317446/why-land-and-property-remain-core-chinas-economic-transition?utm_source=rss_feed Thu, 10 Jul 2025 21:30:07 +0000 Coco Feng Coco Feng Unitree Robotics and artificial intelligence (AI) firm DeepSeek hosted Zhang Yuzhuo, director of China’s State-owned Assets Supervision and Administration Commission (SASAC), during his tour of the two privately-owned start-ups on Thursday. As part of his two-day visit to east Zhejiang province, where the two companies are based, Zhang aimed to learn from the two companies about “how enterprises effectively gather innovative resources and stimulate vitality in the field of AI”, according to an... https://www.scmp.com/tech/policy/article/3317707/deepseek-unitree-robotics-host-head-chinas-state-owned-firm-regulator-zhejiang-tour?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3317707/deepseek-unitree-robotics-host-head-chinas-state-owned-firm-regulator-zhejiang-tour?utm_source=rss_feed Thu, 10 Jul 2025 11:00:08 +0000 Resty Woro Yuniar Resty Woro Yuniar A Qatari firm has pledged a US$2.5 billion investment to help Indonesia realise an ambitious affordable housing push, with plans to build 1 million homes over five years – a major contribution to President Prabowo Subianto’s broader pledge to construct 3 million new dwellings during his term. The initiative is expected to face complex challenges – from securing land and managing construction costs to integrating housing with urban infrastructure – but officials and experts say these could be... https://www.scmp.com/week-asia/economics/article/3315983/indonesias-3-million-homes-push-gets-us25-billion-boost-qatar?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3315983/indonesias-3-million-homes-push-gets-us25-billion-boost-qatar?utm_source=rss_feed Fri, 27 Jun 2025 04:00:08 +0000 Igor Patrick Igor Patrick Senior Chinese energy executives have called on Brazil to fix its regulatory framework and provide long-term predictability, warning that delays could hamper billions of dollars in green investment. The requests for transparency came on Thursday during a panel discussion at the Energy Summit in Rio de Janeiro, where representatives from the State Power Investment Corporation (SPIC) and China Energy Engineering Corporation (CEEC) said that Brazil risked falling behind unless it acted quickly to... https://www.scmp.com/news/china/article/3315998/chinese-energy-firms-say-brazil-must-clarify-regulations-or-face-loss-investments?utm_source=rss_feed https://www.scmp.com/news/china/article/3315998/chinese-energy-firms-say-brazil-must-clarify-regulations-or-face-loss-investments?utm_source=rss_feed Thu, 26 Jun 2025 17:31:12 +0000 Zhou Xin Zhou Xin Education department authorities of China’s Inner Mongolia autonomous region did an unusual thing over the weekend. They opened the 2008 files of the gaokao, the national college entrance exam, to determine if rising mainland actress Nashi had committed fraud to enrol in the prestigious Shanghai Theatre Academy (STA). That investigation was initiated after the 35-year-old Nashi caused an outcry on Chinese social media when the actress hinted online that she had not “played fair” in her exam 17... https://www.scmp.com/opinion/china-opinion/article/3315513/china-just-society-economic-woes-erode-public-perception-fairness?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3315513/china-just-society-economic-woes-erode-public-perception-fairness?utm_source=rss_feed Mon, 23 Jun 2025 23:00:15 +0000 He Huifeng He Huifeng Hunan has become the first province in China to use the proceeds of special-purpose bonds to guarantee government payments to enterprises, with 20 billion yuan (US$2.78 billion) allocated for this year. The inland province made the adjustment to its annual fiscal budget last month, marking the first time the bonds – typically earmarked for revenue-generating construction projects – will be used to cover government arrears. Proceeds will be distributed based on eligible outstanding debts from... https://www.scmp.com/economy/china-economy/article/3315075/word-bonds-chinas-provinces-use-special-purpose-funds-pay-debts?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3315075/word-bonds-chinas-provinces-use-special-purpose-funds-pay-debts?utm_source=rss_feed Fri, 20 Jun 2025 01:00:10 +0000