https://www.scmp.com/rss/323545/feed Frank Tang joined the Post in 2016 after a decade of China economy coverage and government policy analysis. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Mark Magnier,Frank Tang Mark Magnier,Frank Tang US President Donald Trump on Friday named former Federal Reserve official Kevin Warsh to be the next head of the US central bank, after teasing his choice for weeks, with Jerome Powell due to step down from the top job in May. The 55-year-old Warsh, who served as a governor of the Federal Reserve Board from 2006 to 2011, appeared to align with Trump’s bid to control the monetary policymaking institution as economic issues – from tariffs to affordability – dominate the policy agenda ahead of the... https://www.scmp.com/news/us/politics/article/3341870/trump-picks-former-federal-reserve-official-kevin-warsh-chair-us-central-bank?utm_source=rss_feed https://www.scmp.com/news/us/politics/article/3341870/trump-picks-former-federal-reserve-official-kevin-warsh-chair-us-central-bank?utm_source=rss_feed Fri, 30 Jan 2026 12:22:59 +0000 Frank Tang Frank Tang The United States is striving for a more “constructive” relationship with China after this year’s trade war and will continue to pursue a “managed” bilateral trade relationship, its chief trade envoy said, despite concerns lingering over China’s grip on critical minerals and pushback over the White House’s recent approval of H200 AI chip sales. The comments by US Trade Representative Jamieson Greer came after Beijing and Washington fought fiercely throughout the year over tariffs. The Chinese... https://www.scmp.com/news/china/article/3335970/us-seeks-constructive-reset-china-trade-tensions-ease-greer?utm_source=rss_feed https://www.scmp.com/news/china/article/3335970/us-seeks-constructive-reset-china-trade-tensions-ease-greer?utm_source=rss_feed Wed, 10 Dec 2025 19:51:45 +0000 Frank Tang Frank Tang The US central bank announced on Wednesday it would slash the benchmark interest rate by a quarter of a percentage point, though this year’s third cut has long been criticised by President Donald Trump as too late and too little. The cut decision made by the Federal Open Market Committee (FOMC), the monetary-policy organ affiliated to the Federal Reserve, was broadly in line with market expectations, but fell short of Trump’s demand of a larger cut. The benchmark interest rate after the... https://www.scmp.com/news/us/economy-trade-business/article/3335968/us-fed-delivers-quarter-point-rate-cut-trump-renews-pressure-central-bank?utm_source=rss_feed https://www.scmp.com/news/us/economy-trade-business/article/3335968/us-fed-delivers-quarter-point-rate-cut-trump-renews-pressure-central-bank?utm_source=rss_feed Wed, 10 Dec 2025 19:09:51 +0000 Frank Tang Frank Tang China’s flagship sovereign wealth fund has revealed that it opened a representative office in London shortly after Donald Trump’s victory in last year’s US presidential election, a move made amid increased scrutiny of Chinese investments in the United States. The London office was officially registered in December 2024, with the mission of “advancing the company’s overseas investment business” and “promoting cross-border investment cooperation”, China Investment Corporation (CIC) said in its... https://www.scmp.com/economy/china-economy/article/3335938/chinas-sovereign-wealth-fund-reveals-it-opened-london-office-after-trump-win?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3335938/chinas-sovereign-wealth-fund-reveals-it-opened-london-office-after-trump-win?utm_source=rss_feed Wed, 10 Dec 2025 14:00:09 +0000 Frank Tang Frank Tang Beijing and Washington held a call on Friday to discuss bilateral trade and economic ties, as a variety of practical issues – from soybean orders to computer chips – remain problematic despite the trade truce in October. Chinese Vice-Premier He Lifeng’s video call with US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer was part of a bilateral negotiation mechanism started this year to address issues between the world’s two largest economies. The two sides had... https://www.scmp.com/news/us/economy-trade-business/article/3335425/chinas-he-lifeng-holds-constructive-call-trump-officials-bessent-and-greer?utm_source=rss_feed https://www.scmp.com/news/us/economy-trade-business/article/3335425/chinas-he-lifeng-holds-constructive-call-trump-officials-bessent-and-greer?utm_source=rss_feed Fri, 05 Dec 2025 18:59:50 +0000 Frank Tang Frank Tang The United States will redouble efforts to ensure its return to the moon ahead of China and also establish an enduring presence on Earth's natural satellite to entrench the country’s presence, President Donald Trump’s pick to head the National Aeronautics and Space Administration said on Wednesday during a Senate confirmation hearing. Such a sense of urgency for the US to accelerate its pace in this “second space race” has haunted Capitol Hill, as Beijing, a strategic rival framed by Washington,... https://www.scmp.com/news/us/politics/article/3335120/trumps-nasa-pick-vows-us-will-beat-china-back-moon?utm_source=rss_feed https://www.scmp.com/news/us/politics/article/3335120/trumps-nasa-pick-vows-us-will-beat-china-back-moon?utm_source=rss_feed Wed, 03 Dec 2025 22:38:50 +0000 Frank Tang Frank Tang The US Supreme Court lawsuit challenging President Donald Trump’s tariff war and the recent budget fight on Capitol Hill might have dragged down – if not sunk – one of Washington’s proposed tools to spearhead its strategic competition with China. Ten months after Trump’s executive order authorising the creation of the nation’s first-ever sovereign wealth fund (SWF), there are still few clues about how it can be funded, structured and managed, leaving a giant question mark on whether it could run... https://www.scmp.com/news/us/diplomacy/article/3334968/why-trumps-sovereign-wealth-fund-brings-high-stakes-and-serious-risks?utm_source=rss_feed https://www.scmp.com/news/us/diplomacy/article/3334968/why-trumps-sovereign-wealth-fund-brings-high-stakes-and-serious-risks?utm_source=rss_feed Tue, 02 Dec 2025 19:14:37 +0000 Mark Magnier,Frank Tang Mark Magnier,Frank Tang Washington initiated the phone call between President Donald Trump and his Chinese counterpart Xi Jinping on Monday, Beijing has clarified, describing the conversation as “positive”. “According to my understanding, the call was initiated by the US side, and the atmosphere of the conversation was positive, friendly and constructive,” Mao Ning, Chinese foreign ministry spokeswoman, told a regular press conference on Tuesday. Communication between the two heads of state on issues of shared concern... https://www.scmp.com/news/china/diplomacy/article/3333998/xi-trump-hold-rare-call-taiwan-tensions-flare-after-japans-warning?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3333998/xi-trump-hold-rare-call-taiwan-tensions-flare-after-japans-warning?utm_source=rss_feed Mon, 24 Nov 2025 15:18:39 +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 into the market. This interview first appeared in SCMP... https://www.scmp.com/economy/china-economy/article/3333699/why-us-economist-nicholas-lardy-thinks-peak-china-theory-has-peaked?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3333699/why-us-economist-nicholas-lardy-thinks-peak-china-theory-has-peaked?utm_source=rss_feed Sun, 23 Nov 2025 22:00:27 +0000 Frank Tang Frank Tang Washington should tighten its export controls by adding inspection staff and plugging loopholes to slow Beijing’s chipmaking advances and curb evasion efforts with support from allies such as the Netherlands and Japan, US lawmakers and experts said on Thursday. Such actions should be deployed, including empowering the Bureau of Industry and Security (BIS) to close trade loopholes and also targeting China’s national champion firms in the semiconductor sector as well as their US subsidiaries,... https://www.scmp.com/news/us/article/3333608/us-officials-call-tougher-chip-rules-limit-chinas-gains?utm_source=rss_feed https://www.scmp.com/news/us/article/3333608/us-officials-call-tougher-chip-rules-limit-chinas-gains?utm_source=rss_feed Thu, 20 Nov 2025 22:41:13 +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 Frank Tang Frank Tang US lawmakers on Wednesday called for a change in Washington’s strategy to evade China’s chokehold on rare earth mineral supplies, arguing that new approaches are needed in parallel with President Donald Trump’s efforts to speed up domestic production. Proposals to dismantle the chokepoint – including new technologies and development of components that do not require the critical minerals as inputs – were presented during a hearing of the US House Select Committee on China. The suggestions came... https://www.scmp.com/news/us/article/3333462/us-lawmakers-press-new-tactics-challenge-chinas-grip-rare-earths?utm_source=rss_feed https://www.scmp.com/news/us/article/3333462/us-lawmakers-press-new-tactics-challenge-chinas-grip-rare-earths?utm_source=rss_feed Wed, 19 Nov 2025 22:33:24 +0000 Frank Tang Frank Tang China’s flagship sovereign wealth fund has moved three of its managing directors to new, subordinate roles, sources told the Post, with the heads of the fund’s fixed income, private equity and public relations departments all taking new non-managerial positions. All have extensive overseas work experience, and none have reached the statutory retirement age. More reorganising could be on the horizon at China Investment Corporation (CIC), the sources said on condition of anonymity, including those... https://www.scmp.com/economy/china-economy/article/3332834/chinas-sovereign-fund-sidelines-executives-amid-worries-over-us-scrutiny?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3332834/chinas-sovereign-fund-sidelines-executives-amid-worries-over-us-scrutiny?utm_source=rss_feed Fri, 14 Nov 2025 14:00:15 +0000 Frank Tang Frank Tang One of the architects of former US President Joe Biden’s tech export controls warned on Thursday that Washington needs better coordination with allies to deny China access to high-end chips and cutting-edge products, criticising a plan by US President Donald Trump’s administration to allow sales of certain Nvidia chips. Citing Beijing’s massive spending on efforts to establish China’s technological leadership, former commerce secretary Gina Raimondo said in a panel discussion at the Council on... https://www.scmp.com/news/us/diplomacy/article/3332714/china-must-not-be-sold-latest-cutting-edge-technology-says-former-us-commerce-secretary?utm_source=rss_feed https://www.scmp.com/news/us/diplomacy/article/3332714/china-must-not-be-sold-latest-cutting-edge-technology-says-former-us-commerce-secretary?utm_source=rss_feed Thu, 13 Nov 2025 23:37:19 +0000 Frank Tang Frank Tang US President Donald Trump’s administration on Wednesday disclosed further details about its agreement with China on the control of fentanyl precursors, key ingredients in the production of the drug that kills tens of thousands of Americans each year. Federal Bureau of Investigation Director Kash Patel said in a regular White House briefing that China has agreed to control seven chemical subsidiaries that are used to produce the lethal drug, after Beijing’s export control decision announced on... https://www.scmp.com/news/china/article/3332557/us-outlines-china-plan-curb-fentanyl-chemicals?utm_source=rss_feed https://www.scmp.com/news/china/article/3332557/us-outlines-china-plan-curb-fentanyl-chemicals?utm_source=rss_feed Wed, 12 Nov 2025 21:20:26 +0000 Frank Tang Frank Tang The prolonged US federal government shutdown has been affecting the release of key data that policymakers need to assess the trade war’s effects and gauge price and labour market trends, further complicating ongoing rate decision disputes between US President Donald Trump and the Federal Reserve. Speaking at the Brookings Institution on Monday, US Federal Reserve Governor Lisa Cook joined other colleagues to warn how the lack of government data has challenged their decision-making at the US... https://www.scmp.com/news/us/diplomacy/article/3331545/us-government-shutdown-stops-flow-key-economic-data-latest-impact-trumps-tariffs?utm_source=rss_feed https://www.scmp.com/news/us/diplomacy/article/3331545/us-government-shutdown-stops-flow-key-economic-data-latest-impact-trumps-tariffs?utm_source=rss_feed Tue, 04 Nov 2025 19:26:53 +0000 Frank Tang Frank Tang The Beijing-headquartered Asian Infrastructure Investment Bank (AIIB) has confirmed that it will open a hub office in Hong Kong – a move that will enhance its offshore financing capabilities and the city’s role as a global financial centre. Preparatory work is in the pipeline and progressing well, the Post has learned from the bank. A formal announcement is expected to be made by AIIB President Jin Liqun, who is scheduled to address Hong Kong FinTech Week on Monday. The AIIB’s second office... https://www.scmp.com/economy/global-economy/article/3331013/asian-infrastructure-investment-bank-confirms-plan-hong-kong-office-next-year?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3331013/asian-infrastructure-investment-bank-confirms-plan-hong-kong-office-next-year?utm_source=rss_feed Sun, 02 Nov 2025 14:00:13 +0000 Frank Tang Frank Tang US President Donald Trump’s administration needs to reverse the destructive policies undercutting America’s ability to compete with China in strategic hi-tech sectors or see Beijing race ahead, a leading member of the hardline US House Select Committee on China said on Wednesday. China’s commitment to the progress of tech innovation has caused unease in the United States, with Beijing’s continued investment in the industry standing in sharp contrast to the US government’s current shutdown and... https://www.scmp.com/news/us/diplomacy/article/3330828/trump-must-do-more-win-us-china-tech-race-says-us-house-select-committee-member?utm_source=rss_feed https://www.scmp.com/news/us/diplomacy/article/3330828/trump-must-do-more-win-us-china-tech-race-says-us-house-select-committee-member?utm_source=rss_feed Wed, 29 Oct 2025 20:32:13 +0000 Frank Tang Frank Tang If the US hopes to rebuild a competitive shipbuilding industry and narrow China’s commanding lead, it should adopt some lessons from Beijing – emphasising long-term planning, steady government funding and policy consistency, witnesses told a US Senate hearing this week. China’s phenomenal rise in the global shipbuilding sector has caught the attention of Washington’s policymakers who are keen to restore the nation’s commercial fleet and production capacity, leading many to blame China for... https://www.scmp.com/news/china/article/3330819/american-lawmakers-told-us-must-learn-china-revive-shipbuilding?utm_source=rss_feed https://www.scmp.com/news/china/article/3330819/american-lawmakers-told-us-must-learn-china-revive-shipbuilding?utm_source=rss_feed Wed, 29 Oct 2025 16:09:27 +0000 Frank Tang Frank Tang The administration of US President Donald Trump on Tuesday tightened the rules on the importation, marketing and sales of new Chinese telecoms gear in the United States, a move set to haunt bilateral relations ahead of the summit of the top leaders later this week. The US Federal Communications Commission (FCC) voted to block new approvals for devices with parts from companies on its “Covered List“ and also to allow it to bar previously approved equipment in certain cases. It means that devices... https://www.scmp.com/news/china/article/3330692/us-bans-new-chinese-telecoms-gear-citing-national-security-risks?utm_source=rss_feed https://www.scmp.com/news/china/article/3330692/us-bans-new-chinese-telecoms-gear-citing-national-security-risks?utm_source=rss_feed Tue, 28 Oct 2025 21:47:44 +0000 Frank Tang,Khushboo Razdan Frank Tang,Khushboo Razdan Beijing’s top envoy in Washington has emphasised the need for “shared prosperity”, framing a possible summit between US President Donald Trump and Chinese President Xi Jinping next week in South Korea as an opportunity for cooperation rather than confrontation. Speaking at an event on Friday, China’s ambassador to the United States, Xie Feng, said that China and the US, as the world’s two largest economies, should improve communication and manage their differences. “In this chaotic world, we... https://www.scmp.com/news/china/diplomacy/article/3330299/chinese-envoy-calls-shared-prosperity-possible-xi-trump-summit-approaches?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3330299/chinese-envoy-calls-shared-prosperity-possible-xi-trump-summit-approaches?utm_source=rss_feed Sat, 25 Oct 2025 04:41:10 +0000 Frank Tang Frank Tang Washington should focus its industrial policy on strategic, cutting-edge technologies rather than trying to bring back manufacturing wholesale, particularly in areas where the US has little competitive advantage, said members of the former Joe Biden administration. This comes at a time when US policy circles are debating whether the nation should borrow some of China’s playbook as the bilateral competition intensifies and how far it should go as China’s state-led system makes a big bet on... https://www.scmp.com/news/us/article/3329993/biden-era-officials-urge-focus-hi-tech-strategy-not-us-manufacturing-revival?utm_source=rss_feed https://www.scmp.com/news/us/article/3329993/biden-era-officials-urge-focus-hi-tech-strategy-not-us-manufacturing-revival?utm_source=rss_feed Wed, 22 Oct 2025 21:04:45 +0000 Frank Tang Frank Tang China is in talks with Japan and South Korea – both US allies – about a possible trilateral currency swap to bolster the region’s financial safety net and deepen economic cooperation amid US President Donald Trump’s trade war, according to a source familiar with the issue. Pan Gongsheng, governor of the People’s Bank of China (PBOC), touched on the issue with his South Korean and Japanese counterparts, Rhee Chang-yong and Kazuo Ueda, on the sidelines of the IMF-World Bank annual meetings in... https://www.scmp.com/news/china/money-wealth/article/3329849/china-eyes-3-way-currency-swap-japan-and-south-korea-amid-trumps-tariff-war-source?utm_source=rss_feed https://www.scmp.com/news/china/money-wealth/article/3329849/china-eyes-3-way-currency-swap-japan-and-south-korea-amid-trumps-tariff-war-source?utm_source=rss_feed Tue, 21 Oct 2025 16:23:46 +0000 Frank Tang Frank Tang A senior Panamanian official said on Monday that Panama will remain flexible and potentially reach an agreement with CK Hutchison as the Latin American country navigates the geopolitical rivalry between the United States and China. “We are working on a plan in case that [Panama’s Supreme Court] ruling goes against the extension of the contract” for CK Hutchison, said Jose Ramon Icaza, Panama’s minister of canal affairs. “In that case, we have to step in as the Panama Maritime Authority to take... https://www.scmp.com/news/us/diplomacy/article/3329723/panama-ports-deal-ck-hutchison-gets-encouraging-signs-panamanian-government?utm_source=rss_feed https://www.scmp.com/news/us/diplomacy/article/3329723/panama-ports-deal-ck-hutchison-gets-encouraging-signs-panamanian-government?utm_source=rss_feed Mon, 20 Oct 2025 22:39:00 +0000 Frank Tang Frank Tang Hong Kong will successfully navigate protracted geopolitical tensions, serving as a supply chain hub while providing financial services and innovation, the finance chief has said after a visit to the United States where he promoted the city. Financial Secretary Paul Chan Mo-po offered the upbeat assessment in an interview with the Post at the end of his first visit to Washington since 2019, with a fresh phase of the US-China trade war looming and Hong Kong caught up in the rivalry. “Geopolitical... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3329492/hong-kong-navigate-trade-war-supply-chains-says-paul-chan-us?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3329492/hong-kong-navigate-trade-war-supply-chains-says-paul-chan-us?utm_source=rss_feed Sat, 18 Oct 2025 02:56:48 +0000 Frank Tang,Khushboo Razdan Frank Tang,Khushboo Razdan US President Donald Trump’s administration vowed on Wednesday to work with its allies and other countries to get an upper hand in its trade talks with China, claiming Beijing’s recent rare earth control as a sign of being an “unreliable partner” that threatens global supply chains. The remarks marked the latest in a series of threatened countermeasures, as Trump officials have previously announced 100 per cent tariffs on Chinese goods from November 1 and also struck back on such targets like... https://www.scmp.com/news/china/article/3329166/us-rallies-allies-confront-china-over-rare-earth-curbs?utm_source=rss_feed https://www.scmp.com/news/china/article/3329166/us-rallies-allies-confront-china-over-rare-earth-curbs?utm_source=rss_feed Wed, 15 Oct 2025 16:57:16 +0000 Frank Tang Frank Tang China on Saturday announced an anti-dumping probe into imported American analogue integrated circuit (IC) chips and also initiated an anti-discrimination investigation over Washington’s handling of Chinese semiconductors. The decisions come just one day ahead of a scheduled meeting between Chinese and US trade delegations in Madrid, Spain. The Ministry of Commerce said in a notice posted on its website that the anti-dumping investigation was initiated upon request from the Jiangsu provincial... https://www.scmp.com/economy/global-economy/article/3325445/china-declares-anti-dumping-probe-us-analog-chips?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3325445/china-declares-anti-dumping-probe-us-analog-chips?utm_source=rss_feed Sat, 13 Sep 2025 12:17:34 +0000 Frank Tang Frank Tang This is the third story in a three-part series exploring how China is betting on regional hubs to counter global trade risks and reshape its economy. In this piece, we focus on Guizhou’s transformation from one of China’s poorest provinces into a strategic pillar of trade war resilience. The 2025 trade war launched by the United States is shaping up to become a watershed moment for Chinese policymakers. While the country’s economic resilience and role at the centre of global supply chains helped... https://www.scmp.com/economy/china-economy/article/3317235/chinas-trade-war-strategy-bet-guizhou-long-one-its-poorest-provinces?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3317235/chinas-trade-war-strategy-bet-guizhou-long-one-its-poorest-provinces?utm_source=rss_feed Mon, 07 Jul 2025 22:00:15 +0000 Ji Siqi,Frank Tang Ji Siqi,Frank Tang The Beijing-headquartered Asian Infrastructure Investment Bank will open an office in Hong Kong to enhance the multilateral development lender’s fundraising power and expand its global presence, the Post has learned from sources familiar with the matter. The new office would come as a publicity victory for Hong Kong as the city redoubles its efforts to consolidate its status as an international financial centre. Negotiations with the Hong Kong government are ongoing and the final decision is... https://www.scmp.com/economy/global-economy/article/3315947/aiib-expand-global-footprint-20-member-office-hong-kong?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3315947/aiib-expand-global-footprint-20-member-office-hong-kong?utm_source=rss_feed Thu, 26 Jun 2025 11:00:17 +0000 Frank Tang Frank Tang China’s central bank is launching a new connect programme with Hong Kong to facilitate cross-border payments – Beijing’s latest move to open up its financial sector and also leverage the southern financial centre to better connect with the rest of the world. The Payment Connect programme will link the mainland’s Internet Banking Payment System and Hong Kong’s Faster Payment System (FPS), allowing users to make payments and wire money faster and more conveniently. The programme will begin on... https://www.scmp.com/economy/china-economy/article/3315208/mainland-china-hong-kong-launch-payment-connect-scheme-facilitate-capital-flows?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3315208/mainland-china-hong-kong-launch-payment-connect-scheme-facilitate-capital-flows?utm_source=rss_feed Fri, 20 Jun 2025 07:43:44 +0000 Ji Siqi,Frank Tang Ji Siqi,Frank Tang Welcome to Open Dialogue, a new series from the Post where we bring together leading voices to discuss the stories and subjects occupying international headlines. In this inaugural edition, we invited prominent economists from both sides of the Pacific to reflect on the recent turmoil in global trade, the diminishing role of the US dollar and whether China’s yuan could – or should – take its place. Professor Kenneth Rogoff of Harvard University has repeatedly warned the US dollar is approaching... https://www.scmp.com/economy/global-economy/article/3313340/kenneth-rogoff-and-yu-yongding-trump-dollar-and-rise-yuan?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3313340/kenneth-rogoff-and-yu-yongding-trump-dollar-and-rise-yuan?utm_source=rss_feed Sun, 08 Jun 2025 22:00:19 +0000 China appointed a new international trade representative at the Ministry of Commerce (Mofcom) on Wednesday amid an unprecedented trade war with the United States. Li Chenggang will replace 59-year-old Wang Shouwen, who took part in negotiations over the 2020 trade deal between the world’s two largest economies, according to a government statement. Li, 58, has decades of experience handling international negotiations at Mofcom, and also served as China’s ambassador to the Geneva-based World Trade... https://www.scmp.com/economy/china-economy/article/3306713/china-appoints-new-trade-representative-us-trade-war-heats?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3306713/china-appoints-new-trade-representative-us-trade-war-heats?utm_source=rss_feed Wed, 16 Apr 2025 03:38:22 +0000 China will impose additional 50 per cent tariffs on all American imports in response to a similar level of tariff increases on its goods from US President Donald Trump, marking what threatens to be an end to normalised trade relations between the world’s two biggest economies. At the same time, the world’s second-largest economy pledged to release new supportive policies in a timely manner amid external shocks. Beijing’s move marked a clear signal that it would resolutely defend its interests... https://www.scmp.com/economy/china-economy/article/3305873/china-fires-back-stern-rebuke-trumps-tariff-escalation?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3305873/china-fires-back-stern-rebuke-trumps-tariff-escalation?utm_source=rss_feed Wed, 09 Apr 2025 11:06:15 +0000 When Vivian Wu, a university student from Shanghai, planned a trip to Seoul to attend a concert in BTS band member J-Hope’s Hope on the Stage tour in early March, many of her family and friends urged her to reconsider. It was only two months after the deadly Jeju Air plane crash and street protests were still taking place across the South Korean capital following the impeachment of President Yoon Suk-yeol. But Wu insisted on going – and she was not alone. Snatches of Chinese conversation could... https://www.scmp.com/economy/china-economy/article/3303346/hope-stage-china-south-korea-move-closer-amid-trump-tariffs?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3303346/hope-stage-china-south-korea-move-closer-amid-trump-tariffs?utm_source=rss_feed Sat, 22 Mar 2025 22:00:12 +0000 As Washington steels itself for a battle with China over critical minerals and Brussels struggles to beat back a flood of Chinese electric vehicles, Saudi Arabia has offered to help Beijing ride out its growing trade disputes. Bandar Alkhorayef, Saudi minister of industry and mineral resources, said his country welcomed Chinese products and investments – and urged Chinese investors “not to miss the opportunities” to access the largest economy in the Middle East. “We would like to see investments... https://www.scmp.com/economy/global-economy/article/3295976/davos-saudi-arabia-pitches-itself-new-hub-chinese-investment?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3295976/davos-saudi-arabia-pitches-itself-new-hub-chinese-investment?utm_source=rss_feed Thu, 23 Jan 2025 12:00:08 +0000 Beijing’s relations with Washington have arrived at a new crossroads as Donald Trump’s “America first” approach dominates preparations for his second presidential term, a former senior Chinese official said, while adding that the challenges could also present opportunities. Zhu Xian, a former World Bank vice-president and a former deputy head of the Shanghai-headquartered New Development Bank (NDB), said China’s response will demand not only a strong domestic market but also engagement with all... https://www.scmp.com/economy/china-economy/article/3287642/development-finance-veteran-urges-multilateral-response-trump-challenges?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3287642/development-finance-veteran-urges-multilateral-response-trump-challenges?utm_source=rss_feed Fri, 22 Nov 2024 04:30:13 +0000 China’s top legislative body reviewed a bill covering local debt swaps on Monday, the first of several actions expected to be taken this week to reduce fiscal risks and shore up the national economy. Finance minister Lan Foan delivered the proposal – an increase to the local government debt quota that would then be used to convert implicit liabilities – to the National People’s Congress (NPC) Standing Committee, the official Xinhua News Agency reported. The committee’s activities are being... https://www.scmp.com/economy/policy/article/3285145/chinas-top-legislative-body-reviews-debt-swap-plan-markets-await-stimulus-news?utm_source=rss_feed https://www.scmp.com/economy/policy/article/3285145/chinas-top-legislative-body-reviews-debt-swap-plan-markets-await-stimulus-news?utm_source=rss_feed Mon, 04 Nov 2024 10:29:06 +0000 With arms wide open to Global South nations, Beijing is growing increasingly louder in calling for a bigger role in multilateral financial architecture, analysts say as they point to China’s slow progress in securing a bigger voice in the Western-dominated World Bank and International Monetary Fund. Their assessments were underpinned by President Xi Jinping’s strongly worded speech on Wednesday at a Brics summit in Kazan, Russia, where he spoke out against stalled reform of the global governance... https://www.scmp.com/economy/global-economy/article/3283697/chinas-call-global-financial-reform-loud-message-west-global-south-analysts?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3283697/chinas-call-global-financial-reform-loud-message-west-global-south-analysts?utm_source=rss_feed Thu, 24 Oct 2024 12:30:15 +0000 China should take unconventional action to prevent a worst-case scenario in which the economy could “fall off a cliff”, as there are signs of a fundamental shift in Beijing’s understanding of debt and deficits as well as in policymakers’ mindset on macroeconomic risks and stimulus packages, according to a prominent economist with close ties to the finance ministry. The comments by Liu Shangxi, head of the Chinese Academy of Fiscal Sciences, affiliated with the Ministry of Finance, came after the... https://www.scmp.com/economy/policy/article/3282799/china-stimulus-should-absolutely-surpass-10-trillion-yuan-government-economist-says?utm_source=rss_feed https://www.scmp.com/economy/policy/article/3282799/china-stimulus-should-absolutely-surpass-10-trillion-yuan-government-economist-says?utm_source=rss_feed Thu, 17 Oct 2024 22:00:14 +0000 While the market keeps mulling over the size of Beijing’s economic stimulus, policymakers have already undertaken a significant reshuffle of the country’s financial and fiscal system, with plans to curb risks while cultivating long-term sustainability amid outsized uncertainties. As the question of “how much is enough” persists among financial investors, some analysts contend that Beijing actually has “more than sufficient” ammunition to deal with potential economic challenges – more firepower... https://www.scmp.com/economy/economic-indicators/article/3282485/how-big-beijings-war-chest-and-why-does-headline-stimulus-figure-remain-elusive?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3282485/how-big-beijings-war-chest-and-why-does-headline-stimulus-figure-remain-elusive?utm_source=rss_feed Tue, 15 Oct 2024 13:00:12 +0000 China’s central bank on Thursday officially launched a new swap tool to “promote the healthy development of the capital markets”, with an initial size of 500 billion yuan (US$70.7 billion). The new swap facility would enable qualified securities, mutual funds and insurance companies to swap government bonds or central bank bills with their holdings of corporate bonds, stocks or exchange-traded funds as collateral, according to a statement released on the website of the People’s Bank of... https://www.scmp.com/economy/policy/article/3281769/china-unveils-us70-billion-swap-tool-enhance-stock-market-liquidity?utm_source=rss_feed https://www.scmp.com/economy/policy/article/3281769/china-unveils-us70-billion-swap-tool-enhance-stock-market-liquidity?utm_source=rss_feed Thu, 10 Oct 2024 01:08:51 +0000 This live blog has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. Get faster notifications on the latest updates by downloading our app. China’s top economic planner, the National Development and Reform Commission (NDRC), held a press conference on Tuesday morning. NDRC chairman Zheng Shanjie, as well as deputy heads Liu Sushe, Zhao Chenxin, Li Chunlin and Zheng Bei, unveiled a wide-ranging action plan. Timed for the... https://www.scmp.com/economy/policy/article/3281464/chinas-top-economic-planner-set-unveil-wide-ranging-action-plan?utm_source=rss_feed https://www.scmp.com/economy/policy/article/3281464/chinas-top-economic-planner-set-unveil-wide-ranging-action-plan?utm_source=rss_feed Tue, 08 Oct 2024 01:50:20 +0000 In the more than 10 years since its inception, the Asian Infrastructure Investment Bank (AIIB) – a Beijing-headquartered multilateral development lender representing 110 member states – has proved critics “100 per cent wrong”, a senior executive said, adding its door will “always” be open to new entrants as well as private capital. Danny Alexander – who moved to Beijing in February 2016 to serve as the bank’s vice-president – called the AIIB a “remarkable” institution in an interview during the... https://www.scmp.com/economy/china-economy/article/3280568/vp-china-based-aiib-says-bank-has-proven-doubters-100-cent-wrong?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3280568/vp-china-based-aiib-says-bank-has-proven-doubters-100-cent-wrong?utm_source=rss_feed Mon, 30 Sep 2024 12:30:15 +0000 The Beijing-headquartered Asian Infrastructure Investment Bank (AIIB) on Thursday welcomed its 110th member amid its efforts to take on a bigger role in helping some of the world’s poorest countries discover innovative ways of financing. Following its launch in January 2016, the bank has moved to open its doors wider to the private sector, as well as nations from the Global South – a term for a loose grouping of developing nations. And Nauru, a Micronesian island of around 12,000 people in... https://www.scmp.com/economy/global-economy/article/3280059/aiib-adds-new-member-development-bank-emarks-grand-global-mission?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3280059/aiib-adds-new-member-development-bank-emarks-grand-global-mission?utm_source=rss_feed Fri, 27 Sep 2024 03:00:14 +0000 Beijing should take action to address the European Union’s concerns over China’s overseas projects, products and technology, as open discussions are vital to managing differences and tensions, former Finnish prime minister Mari Kiviniemi said on Wednesday. “I’m very worried about these tensions – and geopolitical tensions,” Kiviniemi told the Post on the sidelines of the annual conference of the Asian Infrastructure Investment Bank (AIIB) in Samarkand, Uzbekistan. “Because, from my background, I... https://www.scmp.com/economy/global-economy/article/3280068/amid-china-eu-tensions-former-finnish-prime-minister-warns-societal-harm-tariffs?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3280068/amid-china-eu-tensions-former-finnish-prime-minister-warns-societal-harm-tariffs?utm_source=rss_feed Thu, 26 Sep 2024 10:00:25 +0000 China has been resetting its financial regulatory structure and monetary mechanism, while also reshuffling its 476 trillion yuan (US$67 trillion) financial industry, as President Xi Jinping released a grand ambition of turning the country into a financial superpower. And in Pan Gongsheng’s first year of governor of the People’s Bank of China, having replaced Yi Gang in July 2023, China’s central bank has conducted at least three large monetary adjustments to fulfil Xi’s vision and try to make... https://www.scmp.com/economy/china-economy/article/3277021/chinas-3-monetary-pivots-under-first-year-central-bank-governor-pan-gongsheng?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3277021/chinas-3-monetary-pivots-under-first-year-central-bank-governor-pan-gongsheng?utm_source=rss_feed Wed, 04 Sep 2024 03:00:09 +0000 French economist Marc Uzan is executive director and founder of the Reinventing Bretton Woods Committee, a non-profit organisation established in 1994 to address issues related to the world’s financial architecture. He has been working closely with central banks and finance ministries around the world, as well as international organisations such as the International Monetary Fund and the Group of 20, to bring stakeholders together to attempt to fix the system. In this latest interview in the... https://www.scmp.com/economy/china-economy/article/3276609/french-economist-marc-uzan-how-china-can-help-reshape-global-financial-system?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3276609/french-economist-marc-uzan-how-china-can-help-reshape-global-financial-system?utm_source=rss_feed Sun, 01 Sep 2024 22:00:20 +0000 China’s central bank has conducted its first treasury bond trade in nearly two decades in open markets, debuting a long-awaited monetary tool to help manage the domestic bond market and stabilise the economy. In an online statement published Friday afternoon, the People’s Bank of China said it bought short-term treasury bonds from primary dealers and sold long-term bonds – a net purchase of 100 billion yuan (US$14.1 billion) – to “fulfil requirements set out at the central financial work... https://www.scmp.com/economy/china-economy/article/3276594/chinas-central-bank-tries-new-tool-100-billion-yuan-net-purchase-treasury-bonds?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3276594/chinas-central-bank-tries-new-tool-100-billion-yuan-net-purchase-treasury-bonds?utm_source=rss_feed Fri, 30 Aug 2024 09:30:24 +0000 This latest interview in the Open Questions series features Marc Uzan, whose non-profit organisation Reinventing Bretton Woods Committee is observing its 30th anniversary this year, a half-century after the establishment of the original Bretton Woods economic order. The French economist founded the organisation to address issues related to the international financial architecture and to convene discussions about new policy directives. Uzan has edited several volumes on international finance... https://www.scmp.com/plus/article/3276362/marc-uzan-argues-better-imf-gives-china-more-influence-financial-system?utm_source=rss_feed https://www.scmp.com/plus/article/3276362/marc-uzan-argues-better-imf-gives-china-more-influence-financial-system?utm_source=rss_feed Thu, 29 Aug 2024 06:15:51 +0000 China needs to provide “clear direction and an anchor” during the upcoming third plenum to revive market confidence, while a market mechanism and structural reforms are also required, a senior economics professor said ahead of this month’s key conclave. “We’re hopeful that the [upcoming third plenum] document will speak to some of the issues … maybe strengthening property rights surrounding entrepreneurship and putting local government finances on sounder footing,” Alfred Schipke, director of... https://www.scmp.com/economy/china-economy/article/3269163/chinas-third-plenum-needs-provide-clear-direction-anchor-reforms-economist?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3269163/chinas-third-plenum-needs-provide-clear-direction-anchor-reforms-economist?utm_source=rss_feed Fri, 05 Jul 2024 00:00:11 +0000