https://www.scmp.com/rss/322490/feed en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Xinyi Wu,Mia Nurmamat Xinyi Wu,Mia Nurmamat China’s economy grew 5 per cent year on year in the first quarter, beating market expectations despite the global impact of the US-Israel war in Iran, which analysts said indicates the country remains on track to meet its full-year growth target without the need for near-term stimulus. The closely watched gross domestic product growth figure, released by the National Bureau of Statistics (NBS) on Thursday, beat the 4.86 per cent forecast by economists polled by financial data provider Wind. It... https://www.scmp.com/economy/economic-indicators/article/3350237/china-records-5-gdp-growth-first-quarter-track-annual-target?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3350237/china-records-5-gdp-growth-first-quarter-track-annual-target?utm_source=rss_feed Thu, 16 Apr 2026 02:00:21 +0000 Alex Lo Alex Lo A close mainland relative cried her eyes out while video-calling with my wife and me recently. Like many in China who have bought property since the late 2010s, she is sitting on a big loss with her flat outside downtown Chongqing. The city saw sales pick up around the time of the Spring Festival, traditionally an off-season. But when she tried her luck, the offers from potential buyers were brutal, and she called off the sale. Knowing that I work for an English-language newspaper in Hong Kong... https://www.scmp.com/opinion/china-opinion/article/3349327/helpful-analysts-predict-china-property-recovery-now-soon-and-much-later?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3349327/helpful-analysts-predict-china-property-recovery-now-soon-and-much-later?utm_source=rss_feed Sat, 11 Apr 2026 01:30:09 +0000 Mia Nurmamat Mia Nurmamat China’s factory-gate prices rose for the first time in more than three years in March, in an early sign that the US-Israel war on Iran is starting to affect producers in the world’s second-largest economy. The producer price index (PPI) – a measure of factory-gate prices – increased by 0.5 per cent year on year in March, according to data released by the National Bureau of Statistics on Friday. The result broke a long deflationary period stretching for 41 consecutive months, with rising global... https://www.scmp.com/economy/china-economy/article/3349582/chinas-factory-gate-prices-rise-first-time-3-years-iran-war-bites?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3349582/chinas-factory-gate-prices-rise-first-time-3-years-iran-war-bites?utm_source=rss_feed Fri, 10 Apr 2026 01:32:34 +0000 Igor Patrick Igor Patrick Brazil is set to exhaust its annual beef export quota to China by early May, industry officials said, as cattle prices hit a nominal record and Beijing’s import restrictions forced exporters across South America to scramble for alternative markets. The benchmark price for finished cattle tracked by the Centre for Advanced Studies on Applied Economics at the University of Sao Paulo reached R$365 (US$71.57) per arroba (per 11.5-15kg) on Wednesday, a gain of 12.5 per cent over the past 12 months,... https://www.scmp.com/news/china/diplomacy/article/3349571/brazil-track-fill-china-beef-export-quota-may-prices-hit-all-time-high?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3349571/brazil-track-fill-china-beef-export-quota-may-prices-hit-all-time-high?utm_source=rss_feed Thu, 09 Apr 2026 19:28:30 +0000 Frank Chen Frank Chen President Xi Jinping has signalled a renewed focus on China’s services sector, calling for a demand- and tech-led strategy to reshape growth and create jobs, as policymakers met to chart the path forward. “The focus must be on demand-driven development and reforms as well as empowerment by technologies,” Xi said in a message to a two-day conference on the sector that concluded on Wednesday, according to state-run news agency Xinhua. Highlighting the role of services in tackling some of China’s... https://www.scmp.com/economy/china-economy/article/3349415/xi-jinping-backs-services-sector-power-chinas-next-growth-phase?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3349415/xi-jinping-backs-services-sector-power-chinas-next-growth-phase?utm_source=rss_feed Wed, 08 Apr 2026 13:30:08 +0000 Xiaofei Xu Xiaofei Xu Luxury is back. Following a relatively stagnant 2025, the industry is forecast to accelerate in 2026, with China’s long-awaited recovery emerging as a pivotal factor, even as the war in Iran casts a shadow over global markets, according to analysts. Estimates vary, but HSBC, Deutsche Bank and BNP Paribas all forecast global sales growth ranging from 5.5 to 6 per cent this year. “We believe it is time to look at the sector, as we think the organic sales growth rate should further accelerate in... https://www.scmp.com/economy/global-economy/article/3348902/chinas-luxury-spending-seen-boosting-global-sales-2026-despite-headwinds?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3348902/chinas-luxury-spending-seen-boosting-global-sales-2026-despite-headwinds?utm_source=rss_feed Sun, 05 Apr 2026 10:00:11 +0000 Zhu Wenqian Zhu Wenqian Japanese retailers are scaling back in north China as fierce competition and weak pricing power erode profitability, forcing store closures in major cities and prompting calls for a sharper localisation strategy. Groups such as Aeon and Ito-Yokado have closed outlets in Chinese cities in recent years, highlighting mounting pressure from domestic rivals and shifting consumer habits in the region. Aeon said it closed three supermarkets in Tianjin and one in neighbouring Hebei province after March... https://www.scmp.com/business/article/3348978/japanese-chains-aeon-ito-yokado-retreat-north-china-instant-retail-race-heats?utm_source=rss_feed https://www.scmp.com/business/article/3348978/japanese-chains-aeon-ito-yokado-retreat-north-china-instant-retail-race-heats?utm_source=rss_feed Sun, 05 Apr 2026 03:00:07 +0000 Yulu Ao Yulu Ao Chinese toymaker Pop Mart remains under pressure despite carrying out six share buy-backs over the past few days following a sell-off after its results, raising questions over whether the weakness reflects concerns about its Labubu-led growth and valuation. The Beijing-based company has stepped up efforts to support its share price through market purchases. Pop Mart bought back 700,000 shares on Thursday at prices ranging from HK$140.90 to HK$142.30, for a total of HK$99.2 million (US$12.6... https://www.scmp.com/business/china-business/article/3348876/chinas-pop-mart-struggles-stem-slide-despite-buy-backs-amid-labubu-reliance-concerns?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3348876/chinas-pop-mart-struggles-stem-slide-despite-buy-backs-amid-labubu-reliance-concerns?utm_source=rss_feed Fri, 03 Apr 2026 04:03:57 +0000 Ralph Jennings Ralph Jennings Andrew Tilton, chief Asia-Pacific economist at Goldman Sachs, speaks to the South China Morning Post about the long-term future of China’s economy after the “two sessions” in Beijing and ahead of an expected Xi-Trump summit – all during an oil crisis sparked by the US-Israel war against Iran. SCMP Plus readers get early access to articles in the Open Questions series. What impact will the oil shock arising from the Iran war have on the growth of Asian economies this year? Asia is greatly... https://www.scmp.com/plus/economy/china-economy/article/3348772/goldman-sachs-economist-sees-iran-war-testing-chinas-self-reliance?utm_source=rss_feed https://www.scmp.com/plus/economy/china-economy/article/3348772/goldman-sachs-economist-sees-iran-war-testing-chinas-self-reliance?utm_source=rss_feed Thu, 02 Apr 2026 07:30:04 +0000 Chris Pereira Chris Pereira Against a backdrop of war and global uncertainty, Chinese Premier Li Qiang delivered a clear message at the recent China Development Forum: China is committed to being a “harbour of stability” for the world. The forum, which drew CEOs from global companies such as Siemens, Nestlé and Apple, signalled to the world that while the United States flails, China offers reliability and steady governance. Even before the US-Israeli war on Iran, however, my inbox was already telling me that something was... https://www.scmp.com/opinion/china-opinion/article/3348213/surge-global-business-interest-chinas-harbour-stability?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3348213/surge-global-business-interest-chinas-harbour-stability?utm_source=rss_feed Wed, 01 Apr 2026 08:30:08 +0000 Xinyi Wu Xinyi Wu China has sufficient leeway to cope with imported inflationary shocks from Middle East instability, a monetary-policy adviser to the People’s Bank of China said, but the country must balance those pressures with economic-growth risks. Huang Yiping, a member of the PBOC’s Monetary Policy Committee, said that China was already experiencing upwards pressure on prices. But China’s consumer price index (CPI), a key gauge of inflation, has remained below its official target of 2 per cent in recent... https://www.scmp.com/economy/china-economy/article/3348567/china-has-room-imported-inflation-economic-risks-rising-pboc-adviser?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3348567/china-has-room-imported-inflation-economic-risks-rising-pboc-adviser?utm_source=rss_feed Tue, 31 Mar 2026 13:00:08 +0000 Xinyi Wu Xinyi Wu China’s pig prices have plunged to their lowest level in nearly eight years, as the country struggles to deal with a persistent supply glut triggered by the spread of huge industrial farms and a post-holiday drop in meat consumption. Live pigs were selling for 11.05 yuan (US$1.60) per kilogram on average during the third week of March, down 2.9 per cent from the previous week and 28 per cent from a year earlier, data from China’s Ministry of Agriculture and Rural Affairs showed. Prices are now... https://www.scmp.com/economy/china-economy/article/3348423/chinas-massive-pig-farms-spark-supply-glut-hog-prices-hit-8-year-low?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3348423/chinas-massive-pig-farms-spark-supply-glut-hog-prices-hit-8-year-low?utm_source=rss_feed Mon, 30 Mar 2026 11:30:08 +0000 Sylvia Ma Sylvia Ma China is seeing surging public interest in science fiction amid its push for technological development, with revenues reaching a record high and online search traffic more than tripling last year, according to a new report. China’s sci-fi industry saw its gross revenues reach 126.1 billion yuan (US$18.2 billion) in 2025, up 15.7 per cent year on year, according to an annual report released at the China Science Fiction Convention on Friday, as reported by Xinhua. The report also highlighted a... https://www.scmp.com/economy/china-economy/article/3348421/chinas-sci-fi-industry-rides-tech-wave-revenues-hit-record-high?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3348421/chinas-sci-fi-industry-rides-tech-wave-revenues-hit-record-high?utm_source=rss_feed Mon, 30 Mar 2026 11:02:19 +0000 Ji Siqi Ji Siqi As China’s property downturn drags on, foreign companies in downstream industries are revamping their business models to cope with a decline in new construction projects, but the country’s stable policy environment is helping to ease the transition, according to an executive at a leading US supplier. Lift giant Otis is looking for new growth momentum in China’s government-led urban renewal drive, which includes a push to install or upgrade lift systems in ageing apartment buildings, said Judy... https://www.scmp.com/economy/china-economy/article/3348155/chinas-property-downturn-grinds-foreign-suppliers-strive-adapt?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3348155/chinas-property-downturn-grinds-foreign-suppliers-strive-adapt?utm_source=rss_feed Sat, 28 Mar 2026 04:00:09 +0000 He Huifeng He Huifeng Meltwater from snow-capped mountains is fostering an emerging trout-farming industry thousands of kilometres from the sea in western China’s Xinjiang Uygur autonomous region. The region, famous for its cotton, is on track to become China’s top trout producer as it ramps up efforts to diversify its agricultural base following criticism of labour practices in the cotton sector that led to import bans overseas. In 2018, in response to rising domestic demand for Atlantic salmon and limited local... https://www.scmp.com/economy/china-economy/article/3347727/how-salmon-raised-landlocked-xinjiang-netting-fans-china?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347727/how-salmon-raised-landlocked-xinjiang-netting-fans-china?utm_source=rss_feed Wed, 25 Mar 2026 02:00:08 +0000 Zhu Wenqian Zhu Wenqian Major Chinese consumer stocks listed in Hong Kong rose immediately after reporting strong full-year earnings, but retreated on Wednesday. Analysts said the results did not point to a broad recovery in the consumer market but instead underscored structural divergence and new growth drivers in mainland China consumption. Jeweller Laopu Gold posted stronger-than-expected results for 2025, with revenues of 27.3 billion yuan (US$4 billion) last year, a 221 per cent surge year on year, while net... https://www.scmp.com/business/banking-finance/article/3347779/china-consumer-stocks-jump-strong-earnings-analysts-warn-limited-recovery?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3347779/china-consumer-stocks-jump-strong-earnings-analysts-warn-limited-recovery?utm_source=rss_feed Wed, 25 Mar 2026 01:39:46 +0000 Mia Nurmamat Mia Nurmamat As China undergoes a sweeping economic transition, its regions are also in the process of embracing change. The powerhouses of yesteryear must adapt or risk falling behind, as traditional industries become less reliable growth drivers and new sectors take prominence. In this series, we explore three representative areas of the country as they attempt to navigate this rapidly changing environment. After Joyce Wu moved from Hainan province to Hong Kong in 2013, she marvelled for years at the... https://www.scmp.com/economy/china-economy/article/3347581/chinas-hainan-wants-more-beach-tourism-will-new-customs-rules-cause-sea-change?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347581/chinas-hainan-wants-more-beach-tourism-will-new-customs-rules-cause-sea-change?utm_source=rss_feed Mon, 23 Mar 2026 22:00:10 +0000 Lizzi C. Lee,Huiyan Li Lizzi C. Lee,Huiyan Li During a press conference of the annual “two sessions”, National People’s Congress spokesperson Lou Qinjian referenced the grass-roots football league Suchao or Su Super League, which drew millions of spectators in Chinese stadiums last year. At a time when boosting domestic demand tops Beijing’s economic agenda, discussing an amateur sports tournament at the national podium goes beyond mere cultural commentary. It hints at something broader about how policymakers are approaching the consumption... https://www.scmp.com/opinion/china-opinion/article/3347017/china-struggles-boost-demand-no-one-size-fits-all-solution-will-work?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3347017/china-struggles-boost-demand-no-one-size-fits-all-solution-will-work?utm_source=rss_feed Fri, 20 Mar 2026 21:30:08 +0000 Lijia Zhang Lijia Zhang My grandmother kept her banknotes under the mattress. Even after savings accounts became common and the money my siblings and I gave her began to accumulate, she still preferred to hide cash away at home. She loved saving and hated spending. I thought of her when China’s leaders again emphasised the need to boost domestic consumption at this year’s “two sessions” meetings. With exports facing geopolitical headwinds and the property sector struggling, policymakers hope households will become a... https://www.scmp.com/opinion/china-opinion/article/3346765/chinas-high-household-savings-reflect-old-values-and-new-anxieties?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3346765/chinas-high-household-savings-reflect-old-values-and-new-anxieties?utm_source=rss_feed Thu, 19 Mar 2026 21:30:08 +0000 Ralph Jennings Ralph Jennings About two out of every five professionals in China expect no pay rise this year after more than half missed out on one last year, with both figures higher than the Asian average, according to survey data gathered by a recruiting firm – a trend suggesting further pessimism among an already dissatisfied workforce. London-based recruitment firm Hays found that 44 per cent of professionals in China – the highest share anywhere in Asia – anticipate no salary increase in 2026. Six per cent expect a... https://www.scmp.com/economy/china-economy/article/3347176/survey-shows-chinas-professionals-have-high-expectations-low-pay?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347176/survey-shows-chinas-professionals-have-high-expectations-low-pay?utm_source=rss_feed Thu, 19 Mar 2026 15:00:10 +0000 Mia Nurmamat Mia Nurmamat The Formula One (F1) Chinese Grand Prix drew record crowds over the weekend, another indication the wide-ranging efforts from host city Shanghai to raise its profile as a global sports and event destination are paying off. The three-day event, which concluded on Sunday, attracted more than 230,000 cumulative spectators, the highest attendance headcount reported by the Chinese financial centre in nearly two decades. On the opening day, the number of foreign arrivals through Shanghai’s ports... https://www.scmp.com/economy/china-economy/article/3346721/shanghai-sees-massive-f1-turnout-boosting-citys-pitch-sporting-destination?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3346721/shanghai-sees-massive-f1-turnout-boosting-citys-pitch-sporting-destination?utm_source=rss_feed Mon, 16 Mar 2026 08:00:10 +0000 Carol Yang,Xinyi Wu Carol Yang,Xinyi Wu China’s economy got off to a strong start in 2026, as several indicators registered expectation-beating expansions in the first two months – though analysts cautioned the imminent energy crisis caused by the US-Israel war in Iran would present challenges for Beijing and the world at large in the months to come. Resilience in industrial output and retail sales, as well as a small expansion in fixed-asset investment, will provide a vital boost to Beijing as it strives to achieve an economic growth... https://www.scmp.com/economy/economic-indicators/article/3346697/chinas-economy-starts-2026-strongly-retail-sales-investment-rise?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3346697/chinas-economy-starts-2026-strongly-retail-sales-investment-rise?utm_source=rss_feed Mon, 16 Mar 2026 02:00:10 +0000 Luna Sun Luna Sun A budget bubble tea chain from China best known for its cheap ice creams and drinks may soon be adding roller coasters and immersive shows to its menu. Mixue, boasting more stores than McDonald’s and growing rapidly outside China, is planning to build a theme park at its headquarters in Zhengzhou, the capital of central China’s Henan province. The park will be based on its Snow King mascot, a singing snowman that has become one of Chinese retailing’s most recognisable intellectual properties... https://www.scmp.com/economy/china-economy/article/3346502/chinese-bubble-tea-chain-mixue-straps-theme-park-project?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3346502/chinese-bubble-tea-chain-mixue-straps-theme-park-project?utm_source=rss_feed Sun, 15 Mar 2026 02:00:07 +0000 Zhu Wenqian Zhu Wenqian Chow Tai Fook Jewellery Group’s recent launch of a series of high-priced gold-inlaid accessories on the mainland has sparked online debate amid China’s slowing consumer market. Last week, the Hong Kong-listed jeweller showcased several items on its official Weibo account, including a diamond-studded gold AirPods case priced at 788,800 yuan (US$115,000) and gold-inlaid hair clips costing 2,080 yuan each, containing 0.42 grams of gold. The earphone case, made with about 350 grams of gold, was... https://www.scmp.com/business/china-business/article/3346436/all-glitters-goes-viral-chow-tai-fook-unveils-us115000-gold-airpods-case?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3346436/all-glitters-goes-viral-chow-tai-fook-unveils-us115000-gold-airpods-case?utm_source=rss_feed Fri, 13 Mar 2026 05:00:09 +0000 Xinyi Wu Xinyi Wu Some Chinese lawmakers and advisers are pushing to secure higher pensions for elderly farmers, underscoring the persistent income disparity between the country’s urban and rural residents. The latest government work report, approved on Thursday, confirmed a 20-yuan (US$2.91) monthly increase to basic pension payments for a third consecutive year, bringing the national minimum to 163 yuan. However, some deputies from China’s top legislature contend that this level is inadequate. “A pension of... https://www.scmp.com/economy/china-economy/article/3346368/chinas-rural-pensions-focus-lawmakers-fight-farmers-fair-share-amid-income-gap?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3346368/chinas-rural-pensions-focus-lawmakers-fight-farmers-fair-share-amid-income-gap?utm_source=rss_feed Fri, 13 Mar 2026 00:00:11 +0000 Ann Cao,Ben Jiang Ann Cao,Ben Jiang China’s OpenClaw craze has taken an ironic turn, with social media platforms now flooded with paid services offering to uninstall the artificial intelligence (AI) agent after users initially paid to have it installed. On Xianyu, the second-hand marketplace under Alibaba, the keyword “uninstall OpenClaw” was trending on Thursday, based on a search by the South China Morning Post. Records showed that a Shanghai-based seller named “mojito lime water” charged 299 yuan ($43.55) to uninstall the agent... https://www.scmp.com/tech/big-tech/article/3346397/chinas-openclaw-users-paid-install-viral-ai-agent-now-they-spend-remove-it?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3346397/chinas-openclaw-users-paid-install-viral-ai-agent-now-they-spend-remove-it?utm_source=rss_feed Thu, 12 Mar 2026 12:00:14 +0000 Mia Nurmamat Mia Nurmamat China has pledged to raise grain output to record levels over the next five years, as part of efforts to guarantee food security for its vast population amid geopolitical shocks and supply-chain uncertainties. Under the nation’s 15th five-year plan unveiled during the “two sessions” parliamentary meetings, Beijing set a target to raise annual grain production capacity to 725 million tonnes by 2030, driven by wider use of high-end agricultural machinery and advanced breeding technologies. As in... https://www.scmp.com/economy/global-economy/article/3346235/china-targets-record-food-security-push-shadow-us-israeli-war-iran?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3346235/china-targets-record-food-security-push-shadow-us-israeli-war-iran?utm_source=rss_feed Thu, 12 Mar 2026 06:00:08 +0000 Carol Yang Carol Yang US President Donald Trump says the war on Iran may not last much longer. But across Asia, government actions are racing to shield themselves from the fallout – revealing a region gripped by anxiety that an energy shock could revive the spectre of stagflation. Under mounting economic pressure and record oil market volatility, Trump said on Monday that the US-Israeli war on Iran could be over “very soon”, though not within the coming week. The most exposed Asian economies – including South Korea... https://www.scmp.com/economy/global-economy/article/3346129/us-israeli-war-iran-threatens-global-energy-how-asia-preparing?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3346129/us-israeli-war-iran-threatens-global-energy-how-asia-preparing?utm_source=rss_feed Wed, 11 Mar 2026 02:00:14 +0000 Kun Tian Kun Tian China’s annual parliamentary “two sessions” have been framed as a show of resilience in a turbulent world. That framing is not wrong but it is incomplete. Beijing’s deliberately lower 2026 economic growth target is less an admission of weakness than a signal that the growth playbook is being rewritten. For Hong Kong, this is not background noise. It is a test of whether policy alignment can be converted into institutional credibility. When Premier Li Qiang delivered the government work report... https://www.scmp.com/opinion/hong-kong-opinion/article/3345773/why-chinas-economic-reset-credibility-test-hong-kong?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3345773/why-chinas-economic-reset-credibility-test-hong-kong?utm_source=rss_feed Tue, 10 Mar 2026 01:30:07 +0000 Luna Sun Luna Sun China’s consumer prices rose during the first two months of the year as a longer-than-usual Chinese New Year holiday drove a surge in spending, though analysts cautioned that Beijing might need to implement stronger measures to boost demand to sustain the recovery. The national consumer price index (CPI), a crucial gauge of inflation, rose by 0.8 per cent year on year during the January-February period, according to data released by the National Bureau of Statistics (NBS) on Monday. Readings for... https://www.scmp.com/economy/china-economy/article/3345926/chinas-consumer-prices-keep-rising-after-holiday-spending-surge?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345926/chinas-consumer-prices-keep-rising-after-holiday-spending-surge?utm_source=rss_feed Mon, 09 Mar 2026 04:08:13 +0000 Zhu Wenqian Zhu Wenqian For Steven Zhou, a 40-year-old Beijing office worker, suburban outlet stores offer a better shopping experience than urban malls, allowing him to escape the city, park his car without frustration and, most importantly, find good deals. “Outlets offer a wide selection of brands, with attractive discounts, especially on sportswear,” Zhou said. Across the mainland, outlets are expanding while traditional and luxury malls face high vacancy rates. Offering well-known brands at discounted prices,... https://www.scmp.com/business/article/3345736/chinas-shoppers-head-suburban-outlets-bright-spot-retail-property?utm_source=rss_feed https://www.scmp.com/business/article/3345736/chinas-shoppers-head-suburban-outlets-bright-spot-retail-property?utm_source=rss_feed Sun, 08 Mar 2026 00:30:08 +0000 Mandy Zuo Mandy Zuo China’s top economic officials held a press conference on the sidelines of the “two sessions” – the annual meetings of China’s top legislature and advisory body – in Beijing on Friday. The briefing, which came a day after Beijing unveiled its economic goals for 2026 and a draft outline for its 15th five-year plan, offered fresh insights into China’s agenda for trade, investment and technological development. Here are the main takeaways from the meeting: Exchange rate Pan Gongsheng, governor of... https://www.scmp.com/economy/china-economy/article/3345737/8-takeaways-economic-briefing-chinas-two-sessions?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345737/8-takeaways-economic-briefing-chinas-two-sessions?utm_source=rss_feed Fri, 06 Mar 2026 10:57:01 +0000 SCMP Reporters SCMP Reporters This live blog is freely available to our registered users. Please log in or create an account below. For full coverage of the 15th five-year plan, including policy and economic shifts plus Trump’s visit, subscribe with our China Super March offer now. China’s top economic officials held a press conference on Friday as part of the “two sessions”, the country’s annual policymaking meetings. The leaders of the National Development and Reform Commission – Beijing’s top economic planner – the... https://www.scmp.com/economy/china-economy/article/3345694/two-sessions-2026-china-lays-out-its-economic-agenda-press-conference?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345694/two-sessions-2026-china-lays-out-its-economic-agenda-press-conference?utm_source=rss_feed Fri, 06 Mar 2026 06:55:23 +0000 Mandy Zuo Mandy Zuo China will allocate more of its fiscal spending this year towards human capital and social safety nets, as Beijing seeks to boost domestic demand and unlock new growth through “investing in people”. “Efforts must be sustained to optimise the expenditure structure, with greater emphasis on supporting the boosting of consumption, investing in people, and safeguarding people’s livelihoods,” Premier Li Qiang said in his annual work report, delivered during the opening session of the National... https://www.scmp.com/economy/china-economy/article/3345615/china-pivots-investing-people-strategy-growth-engine-switches-gears?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345615/china-pivots-investing-people-strategy-growth-engine-switches-gears?utm_source=rss_feed Fri, 06 Mar 2026 05:00:08 +0000 SCMP Reporter SCMP Reporter China’s National Development and Reform Commission unveiled its 2026 draft report focused on domestic demand, industrial upgrading and tech self-reliance. Key funding projects include: 250 billion yuan from ultra-long-term special treasury bonds to support consumer goods trade-in programmes 200 billion yuan from ultra-long-term special treasury bonds to support large-scale equipment upgrades 100-billion-yuan special fiscal-financial coordination fund to boost domestic consumption NDRC... https://www.scmp.com/plus/economy/china-economy/article/3345513/chinas-economic-development-draft-report-2026?utm_source=rss_feed https://www.scmp.com/plus/economy/china-economy/article/3345513/chinas-economic-development-draft-report-2026?utm_source=rss_feed Thu, 05 Mar 2026 04:36:25 +0000 Frank Chen Frank Chen Ahead of China’s annual legislative meetings – typically a window into Beijing’s top-level policy agenda – this is the second 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. Beijing’s campaign to purge the bureaucracy of a growth-at-all-costs mindset has caught some local officials off guard, triggering a mix of confusion and contradictory... https://www.scmp.com/economy/china-economy/article/3344887/chinas-pivot-gdp-obsession-sparks-cadre-confusion-testing-local-governance?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3344887/chinas-pivot-gdp-obsession-sparks-cadre-confusion-testing-local-governance?utm_source=rss_feed Sat, 28 Feb 2026 02:00:49 +0000 Carol Yang Carol Yang China’s leadership has stressed the need for a more proactive macroeconomic stance to support the country’s new five-year plan, ahead of next week’s annual “two sessions” – one of the country’s most important political events. Chaired by President Xi Jinping, the Politburo – a major decision-making body of the ruling Communist Party – met on Friday and set a decisive tone for policy direction, highlighting the need to expand domestic demand and strengthen new growth drivers. In an official... https://www.scmp.com/economy/china-economy/article/3344917/chinas-politburo-signals-decisive-macroeconomic-direction-ahead-two-sessions?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3344917/chinas-politburo-signals-decisive-macroeconomic-direction-ahead-two-sessions?utm_source=rss_feed Fri, 27 Feb 2026 12:30:14 +0000 SCMP Reporters SCMP Reporters This document was translated from Chinese into English using Alibaba’s Qwen3.5-Plus and edited for accuracy by a Post journalist. It is for reference only and is not the official English version. Alibaba owns the South China Morning Post. https://www.scmp.com/plus/economy/china-economy/article/3344891/chinas-february-politburo-readout?utm_source=rss_feed https://www.scmp.com/plus/economy/china-economy/article/3344891/chinas-february-politburo-readout?utm_source=rss_feed Fri, 27 Feb 2026 10:16:25 +0000 Frank Chen Frank Chen Ahead of China’s annual legislative meetings – typically a window into Beijing’s top-level policy agenda – this is the first 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. Beijing’s forceful campaign to instil a “correct” understanding of tenure performance among party cadres may signal Chinese leaders’ determination to downplay headline growth... https://www.scmp.com/economy/china-economy/article/3344723/china-shifts-cadre-appraisal-metrics-away-pure-gdp-growth-resetting-mindsets?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3344723/china-shifts-cadre-appraisal-metrics-away-pure-gdp-growth-resetting-mindsets?utm_source=rss_feed Thu, 26 Feb 2026 22:00:09 +0000 Ralph Jennings Ralph Jennings China logged an overall increase in travel during the just-concluded Chinese New Year break compared with last year’s holiday period, but analysts said spending per capita stayed flat. The country saw 596 million domestic trips over the extended public holiday that ended on Monday, a year-on-year increase of 95 million, Xinhua reported. About 17.8 million cross-border trips were logged over the same period, it added. Chinese New Year is a crucial period for the travel sector as hundreds of... https://www.scmp.com/economy/china-economy/article/3344699/china-sees-rise-chinese-new-year-travel-capita-spending-remains-flat?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3344699/china-sees-rise-chinese-new-year-travel-capita-spending-remains-flat?utm_source=rss_feed Thu, 26 Feb 2026 06:08:27 +0000 Sylvia Ma Sylvia Ma The International Monetary Fund (IMF) has called on China to make the shift to a consumption-led growth model an “overarching priority”, while urging the country to curb what it called “unwarranted industrial policy” amid mounting external imbalances. The IMF staff’s recommendations, issued ahead of Beijing’s annual parliamentary meetings, joined increasingly loud calls for economic rebalancing, particularly after China’s record trade surplus last year. “China needs to move decisively towards... https://www.scmp.com/economy/china-economy/article/3344557/imf-urges-china-prioritise-consumption-led-rebalancing-curb-industrial-policy?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3344557/imf-urges-china-prioritise-consumption-led-rebalancing-curb-industrial-policy?utm_source=rss_feed Wed, 25 Feb 2026 08:47:38 +0000 Mia Nurmamat Mia Nurmamat China’s Lunar New Year box office slid to its weakest level since 2020, weighed down by the absence of major breakout films, despite the country leading global single-market takings so far this year. Cinemas generated 5.75 billion yuan (US$831 million) over the nine-day holiday that ended on Monday, according to box-office tracker Dengta Data – a drop of nearly 40 per cent from last year’s record 9.51 billion yuan haul. The result marked the lowest Lunar New Year takings since 2020, when... https://www.scmp.com/economy/china-economy/article/3344458/chinas-lunar-new-year-box-office-hits-6-year-low-releases-fall-flat?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3344458/chinas-lunar-new-year-box-office-hits-6-year-low-releases-fall-flat?utm_source=rss_feed Tue, 24 Feb 2026 09:30:50 +0000 Brian Rhoads,Raymond Ma Brian Rhoads,Raymond Ma Chinese consumers boosted their spending by 8.6 per cent in the first four days of this year’s extended Lunar New Year break amid government stimulus measures. Traffic increased 4.5 per cent at 78 key shopping streets in the first three days of the Spring Festival compared with last year’s break, while revenue rose 4.8 per cent, according to the Ministry of Commerce. The nine-day holiday, which finished on Monday, also set records for domestic and overseas travel. The increase in holiday... https://www.scmp.com/plus/economy/china-economy/article/3344452/chinas-weak-consumption-gets-lunar-new-year-boost?utm_source=rss_feed https://www.scmp.com/plus/economy/china-economy/article/3344452/chinas-weak-consumption-gets-lunar-new-year-boost?utm_source=rss_feed Tue, 24 Feb 2026 09:05:59 +0000 Mia Nurmamat Mia Nurmamat Consumer spending during China’s Lunar New Year rose modestly this year, according to early official data, as authorities extended the holiday and stepped up stimulus measures to support domestic demand. Average daily sales at major retail and catering firms rose 8.6 per cent year on year over the first four days of the break, Ministry of Commerce data showed. Across 78 pedestrian shopping streets and commercial districts monitored by the ministry, foot traffic and sales revenue grew 4.5 per... https://www.scmp.com/economy/china-economy/article/3344352/chinas-lunar-new-year-sees-modest-rise-consumer-spending-early-data-shows?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3344352/chinas-lunar-new-year-sees-modest-rise-consumer-spending-early-data-shows?utm_source=rss_feed Mon, 23 Feb 2026 11:00:51 +0000 Ralph Jennings Ralph Jennings Chinese travellers are outspending their Asian peers at the region’s airports in search of gifts, food and luxury purchases, a trade association has found. Passengers from China have led the recovery in Asia’s airport retail since the Covid-19 pandemic, spending twice the regional average on luxury goods, according to a study by the Airports Council International (ACI) Asia-Pacific and Middle East released earlier this month. China’s travellers have logged the “highest spend per passenger of any... https://www.scmp.com/economy/china-economy/article/3344297/chinese-shoppers-are-asias-biggest-airport-spenders-study-finds?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3344297/chinese-shoppers-are-asias-biggest-airport-spenders-study-finds?utm_source=rss_feed Mon, 23 Feb 2026 06:00:12 +0000 Yeon Woo Lee Yeon Woo Lee A surge in South Korean visitors wanting to play golf in Guangzhou, fuelled by China’s visa-free travel policy and the city’s warm climate, is keeping Quan Yulan busier than ever at the travel agency where she has worked for 12 years. Compared with 2023, when international travel began recovering after the coronavirus pandemic, Korean bookings surged by more than 300 per cent last year, said Quan, who is of Korean descent, adding that the Guangzhou-based agency expected even stronger growth this... https://www.scmp.com/economy/china-economy/article/3343744/how-did-chinas-guangzhou-tee-surge-south-korean-tourists?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3343744/how-did-chinas-guangzhou-tee-surge-south-korean-tourists?utm_source=rss_feed Thu, 19 Feb 2026 02:00:08 +0000 Mandy Zuo Mandy Zuo China is gearing up to harness the extended Lunar New Year holiday to attract more spending by international tourists, as the country looks to shake off a recent economic slowdown and pivot towards consumption-driven growth. In a rare joint initiative by nine central government departments, Beijing announced plans earlier this month to turn the holiday – which this year began on Sunday and runs through February 23 – into a “consumption feast that links regions and engages everyone”. The move... https://www.scmp.com/economy/china-economy/article/3343743/china-targets-foreign-tourists-lunar-new-year-consumption-feast?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3343743/china-targets-foreign-tourists-lunar-new-year-consumption-feast?utm_source=rss_feed Wed, 18 Feb 2026 13:00:10 +0000 Zhu Wenqian Zhu Wenqian In the run-up to Lunar New Year, Chinese consumers were busy choosing gold jewellery, a traditional gift with deep cultural connotations, as strong market sentiment overshadowed sharp fluctuations in gold prices and assessments of the sector’s outlook by investment banks remained upbeat. Jewellers offered small discounts to boost holiday sales. For example, Chow Tai Fook Jewellery Group, China’s largest retailer by store count, launched an 80 yuan (US$12) discount per gram on gold items in its... https://www.scmp.com/business/commodities/article/3343782/strong-lunar-new-year-demand-fuels-chinas-gold-jewellery-market?utm_source=rss_feed https://www.scmp.com/business/commodities/article/3343782/strong-lunar-new-year-demand-fuels-chinas-gold-jewellery-market?utm_source=rss_feed Tue, 17 Feb 2026 06:00:15 +0000 Zhu Wenqian Zhu Wenqian US warehouse retailer Sam’s Club has gained traction among Chinese shoppers by strengthening localisation and launching more China-tailored products, continuing to expand even as many foreign retailers have scaled back their mainland operations or exited the market. Instead of replicating its US model, Walmart-owned Sam’s Club has introduced products catering to local tastes, including copper gourd ornaments, ginseng and some traditional food items in the days leading up to the Lunar New Year... https://www.scmp.com/business/china-business/article/3343683/walmarts-sams-club-cracks-china-market-formula-even-foreign-retailers-shut-shop?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3343683/walmarts-sams-club-cracks-china-market-formula-even-foreign-retailers-shut-shop?utm_source=rss_feed Tue, 17 Feb 2026 04:30:07 +0000 Frank Chen Frank Chen President Xi Jinping has deemed the acceleration of consumption and innovation, particularly in artificial intelligence, an essential task as the world’s second-largest economy seeks to overcome challenges in 2026. The president’s priorities, officially laid out before the year began, were revealed to the public in a speech excerpt published on Monday by the ruling Communist Party’s leading theoretical journal. Xi emphasised the need to boost domestic demand, giving it the lion’s share of... https://www.scmp.com/economy/china-economy/article/3343726/chinas-xi-prioritises-ai-plus-and-consumer-spending-counter-economic-headwinds?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3343726/chinas-xi-prioritises-ai-plus-and-consumer-spending-counter-economic-headwinds?utm_source=rss_feed Mon, 16 Feb 2026 07:58:18 +0000