https://www.scmp.com/rss/328461/feed The latest breaking economy news, budgets, spending, retail and stocks. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Daniel Ren Daniel Ren Tesla China has launched a new financing scheme to attract more budget-conscious buyers after its sales in the world’s largest electric vehicle (EV) market fell behind its domestic rivals. The US carmaker said on Wednesday that the down payment for a Shanghai-made Model 3 vehicle – priced at 235,500 yuan (US$34,672) – would be slashed to 55,900 yuan from 79,900 yuan if the buyer chose a five-year car loan offered by Tesla. “Our strong products, combined with attractive incentives for car... https://www.scmp.com/business/china-business/article/3353446/tesla-lures-budget-conscious-chinese-buyers-cheap-loans-ahead-state-visit-trump?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3353446/tesla-lures-budget-conscious-chinese-buyers-cheap-loans-ahead-state-visit-trump?utm_source=rss_feed Wed, 13 May 2026 10:44:52 +0000 Alice Li Alice Li Some European companies operating in China are shifting more production to the country as part of broader supply chain adjustments in response to the US-Israeli war on Iran, according to a new survey by the EU Chamber of Commerce in China. The flash survey of European companies found that more than a quarter of firms had adjusted their supply chain strategies in China following the Middle East conflict, as higher energy and logistics costs weigh on operations. Six in 10 chemicals and petroleum... https://www.scmp.com/economy/global-economy/article/3353423/european-firms-china-rethink-supply-chains-iran-war-drives-costs-survey-finds?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3353423/european-firms-china-rethink-supply-chains-iran-war-drives-costs-survey-finds?utm_source=rss_feed Wed, 13 May 2026 10:30:06 +0000 Xinyi Wu,Yulu Ao Xinyi Wu,Yulu Ao Senior officials from China and the United States concluded their latest round of trade talks in Seoul after less than four hours on Wednesday, the briefest session since the two countries began holding talks last year. The seventh round of negotiations – led by Chinese Vice-Premier He Lifeng and US Treasury Secretary Scott Bessent – wrapped up just hours ahead of US President Donald Trump’s scheduled arrival in Beijing. The officials ended the session without speaking to the media, a departure... https://www.scmp.com/economy/global-economy/article/3353424/leaving-so-soon-us-china-hold-briefest-trade-talks-yet-leaders-summit?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3353424/leaving-so-soon-us-china-hold-briefest-trade-talks-yet-leaders-summit?utm_source=rss_feed Wed, 13 May 2026 09:09:29 +0000 Jeffrey D. Sachs Jeffrey D. Sachs The G7 economists’ memo from March and the IMF’s April report on global imbalances arrived at the same prescription: China’s current account surplus is excessive and should be cut by boosting consumption. The diagnosis is wrong. The world economy, especially emerging markets and developing economies, benefits from China’s high saving. A current account surplus is the excess of national saving over domestic investment. The saving is not lost; it is exported abroad in the form of net capital... https://www.scmp.com/opinion/china-opinion/article/3353281/why-world-needs-china-save-more-not-less?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3353281/why-world-needs-china-save-more-not-less?utm_source=rss_feed Wed, 13 May 2026 08:30:08 +0000 Mia Nurmamat Mia Nurmamat As trade wars and deadly conflicts expose Asia’s vulnerability to geopolitical shocks, Chinese policymakers and advisers are warning of an “urgent need” for the world’s biggest trading bloc to reshape regional energy and manufacturing supply chains. Members of the Beijing-backed Asia-Pacific framework must reduce their reliance on vulnerable shipping routes and use the certainty of collaboration to offset growing geopolitical uncertainty, the experts urged at a forum in China’s southern island... https://www.scmp.com/economy/global-economy/article/3353401/reshaping-rcep-china-advisers-urge-trade-overhaul-shield-bloc-global-shocks?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3353401/reshaping-rcep-china-advisers-urge-trade-overhaul-shield-bloc-global-shocks?utm_source=rss_feed Wed, 13 May 2026 07:11:11 +0000 Xiaofei Xu Xiaofei Xu Chinese and US trade delegations meeting in South Korea today are expected to focus on locking in deliverables for this week’s summit in Beijing rather than engaging in substantive negotiations, analysts said, as both sides race through talks hours before US President Donald Trump’s planned arrival in China. The two teams, led by Vice-Premier He Lifeng and US Treasury Secretary Scott Bessent, will meet in Seoul for one day, a departure from previous rounds that stretched over two days across... https://www.scmp.com/economy/china-economy/article/3353377/china-and-us-teams-race-find-easy-summit-deliverables-meeting-seoul?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3353377/china-and-us-teams-race-find-easy-summit-deliverables-meeting-seoul?utm_source=rss_feed Wed, 13 May 2026 04:59:47 +0000 Xinyi Wu,Yulu Ao Xinyi Wu,Yulu Ao Senior officials from China and the United States have started a new round of trade talks in Seoul, South Korea, hours ahead of US President Donald Trump’s scheduled arrival in Beijing. The delegations – led by Chinese Vice-Premier He Lifeng and US Treasury Secretary Scott Bessent – arrived at Terminal 1 of Incheon Airport around noon on Wednesday Seoul time. The two officials had both paid courtesy calls to South Korean President Lee Jae Myung in the morning. This is the seventh round of... https://www.scmp.com/economy/global-economy/article/3353224/china-us-trade-talks-kick-seoul-ahead-high-profile-leaders-summit?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3353224/china-us-trade-talks-kick-seoul-ahead-high-profile-leaders-summit?utm_source=rss_feed Wed, 13 May 2026 03:34:15 +0000 Coco Feng,Ji Siqi Coco Feng,Ji Siqi Nvidia CEO Jensen Huang has joined US President Donald Trump on his trip to China this week – boarding Air Force One during a stop en route to Beijing – with Trump dismissing earlier reports that the tech leader had been snubbed as “incorrect”. The White House confirmed that Huang had boarded Air Force One during a refuelling stop in Anchorage, Alaska. It added that Tesla and SpaceX CEO Elon Musk was also travelling on the presidential plane. “Jensen is attending the summit at the invitation of... https://www.scmp.com/economy/china-economy/article/3353346/nvidias-jensen-huang-joins-trumps-trip-china-after-all?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3353346/nvidias-jensen-huang-joins-trumps-trip-china-after-all?utm_source=rss_feed Wed, 13 May 2026 02:06:44 +0000 Alex Lo Alex Lo After the Louisiana Purchase from France in 1803, which almost doubled the size of the United States’ territory, US president Thomas Jefferson commissioned the legendary Lewis and Clark expedition, which surveyed new routes from the Missouri river to the Pacific coast. It also carried out work in agriculture, ethnography (with indigenous peoples) and geography. Throughout the 19th and early 20th centuries, that was the kind of science the US government was willing to pay for – practical,... https://www.scmp.com/opinion/china-opinion/article/3353088/us-scientific-self-harm-will-only-help-china?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3353088/us-scientific-self-harm-will-only-help-china?utm_source=rss_feed Wed, 13 May 2026 01:30:05 +0000 Kandy Wong Kandy Wong Australia’s mining giants are aiding China’s push to internationalise its currency and reduce the dominance of the US dollar, as they gradually shift towards using the yuan for financing and settlements, analysts said. China has been using its heft as the world’s dominant iron ore buyer to push global mining companies to adopt the yuan. And several firms are already making the switch, with China’s relatively low interest rates becoming an added incentive. BHP, the world’s largest mining company,... https://www.scmp.com/economy/china-economy/article/3353274/how-australias-mining-giants-are-helping-china-globalise-yuan?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3353274/how-australias-mining-giants-are-helping-china-globalise-yuan?utm_source=rss_feed Wed, 13 May 2026 01:00:14 +0000 Sylvia Ma,Kandy Wong Sylvia Ma,Kandy Wong US President Donald Trump’s landmark visit to China comes as the US-Iran war disrupts global energy supplies, fuels economic uncertainty and adds fresh strain to Washington-Beijing ties. In this story, part of a series examining how rivalry, interdependence and geopolitical crises are reshaping the relationship between the two powers, we explore how the countries’ standing in the world has changed – mostly to China’s benefit – since Trump’s previous trip. When US President Donald Trump unleashed... https://www.scmp.com/economy/global-economy/article/3353264/after-nearly-9-years-trump-landing-totally-different-china-he-ready?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3353264/after-nearly-9-years-trump-landing-totally-different-china-he-ready?utm_source=rss_feed Tue, 12 May 2026 22:00:13 +0000 Kandy Wong,Ji Siqi,Ralph Jennings Kandy Wong,Ji Siqi,Ralph Jennings Beyond high-profile names like Apple’s Tim Cook, a number of lesser-known CEOs joining US President Donald Trump on his trip to China this week represent industries caught in the crossfire of the trade war, analysts said, and are expected to push for deeper engagement rather than risk becoming a “geopolitical football”. Seventeen American CEOs have been invited in total, according to a list released by the White House on Monday – a smaller business delegation than in 2017, when 27 high-profile... https://www.scmp.com/economy/global-economy/article/3353312/trumps-cadre-ceos-hunts-wins-china-soybeans-semiconductors?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3353312/trumps-cadre-ceos-hunts-wins-china-soybeans-semiconductors?utm_source=rss_feed Tue, 12 May 2026 13:34:22 +0000 Sylvia Ma,Ann Cao Sylvia Ma,Ann Cao When US President Donald Trump’s delegation touches down in Beijing on Wednesday night, he looks to be flanked by a cadre of corporate executives, headlined by a man seen by much of the Chinese public as the most familiar American entrepreneur of his generation: Elon Musk. The Tesla and SpaceX chief’s presence alongside Trump for meetings with President Xi Jinping adds a distinctive commercial and personal layer to a diplomatically delicate trip. “Musk’s inclusion in Trump’s China delegation has... https://www.scmp.com/economy/global-economy/article/3353293/elon-musk-joins-trumps-beijing-delegation-natural-bridge-trade?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3353293/elon-musk-joins-trumps-beijing-delegation-natural-bridge-trade?utm_source=rss_feed Tue, 12 May 2026 13:30:07 +0000 Karen Tian Karen Tian German companies in China have grown more optimistic about the country’s economic outlook, even as the Iran war and persistent trade tensions continue to weigh on their operations, according to the German Chamber of Commerce in China. In a survey released on Tuesday, the chamber found that 37 per cent of respondents expected China’s economy to improve over the next six months. That was up 22 percentage points from last year, with only 17 per cent anticipating a deterioration – a sharp reversal... https://www.scmp.com/economy/china-economy/article/3353294/german-firms-china-more-upbeat-about-economy-despite-iran-war-trade-headwinds-survey?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3353294/german-firms-china-more-upbeat-about-economy-despite-iran-war-trade-headwinds-survey?utm_source=rss_feed Tue, 12 May 2026 11:01:04 +0000 Xinyi Wu Xinyi Wu China should raise taxes on the income and properties of high-income groups, a prominent economist has said, arguing the move would align government incentives with protecting property rights and reducing broader social inequality. Liu Shijin, a former deputy head at the Development Research Centre of the State Council, argued that China’s fiscal system should shift from its reliance on indirect taxes – levied on the circulation of goods and services – to direct taxes imposed on individual... https://www.scmp.com/economy/policy/article/3353076/china-must-raise-taxes-ultra-rich-fight-inequality-ex-adviser-says?utm_source=rss_feed https://www.scmp.com/economy/policy/article/3353076/china-must-raise-taxes-ultra-rich-fight-inequality-ex-adviser-says?utm_source=rss_feed Tue, 12 May 2026 09:30:31 +0000 Ralph Jennings Ralph Jennings European airlines are adding flights to China despite costly airspace barriers over Russia to capture surging tourism demand and vie with Chinese carriers, analysts said. The frequency of direct China-Europe flights will climb from 3,011 this month to a per-month maximum of 4,151 in August at the height of summer, British aviation intelligence firm OAG said on Sunday. The same span of time last year saw a similar flight frequency in May, but an increase to only 3,393 flights by that... https://www.scmp.com/economy/china-economy/article/3353110/european-airlines-adding-china-flights-despite-russian-airspace-barrier?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3353110/european-airlines-adding-china-flights-despite-russian-airspace-barrier?utm_source=rss_feed Tue, 12 May 2026 06:00:05 +0000 Alice Li Alice Li With a fragile US-Iran ceasefire barely holding, the Strait of Hormuz still blockaded, and all eyes on the upcoming Trump-Xi meeting, investors are embracing a new market narrative: “Nacho”. The acronym – short for “Not a chance Hormuz opens” – reflects a growing bet on prolonged gridlock and high oil prices. This marks a sharp pivot from last year’s dominant trade tactic, “Taco” – “Trump always chickens out”, which was born in the chaos of Trump’s tariff blitz and relied on the assumption that... https://www.scmp.com/economy/china-economy/article/3353215/taco-nacho-new-buzzword-wall-street-amid-trumps-trip-china?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3353215/taco-nacho-new-buzzword-wall-street-amid-trumps-trip-china?utm_source=rss_feed Tue, 12 May 2026 03:09:49 +0000 Karen Tian Karen Tian Pakistan is poised to become the latest partner in a China-centred trading network, known as the Belt and Road Initiative, to sell “panda bonds”. Islamabad seeks to raise as much as US$250 million through its first-ever sale of the bonds – yuan-denominated debt instruments sold by foreign entities in mainland China’s onshore market – as early as this week. Finance Minister Muhammad Aurangzeb confirmed on Saturday that Islamabad was preparing to access Chinese capital markets with the sale – the... https://www.scmp.com/economy/global-economy/article/3353149/panda-power-pakistan-tap-china-debt-market-first-sale-yuan-priced-notes?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3353149/panda-power-pakistan-tap-china-debt-market-first-sale-yuan-priced-notes?utm_source=rss_feed Tue, 12 May 2026 02:00:14 +0000 Ann Cao,Ji Siqi Ann Cao,Ji Siqi US President Donald Trump’s landmark visit to China comes as the US-Iran war disrupts global energy supplies, fuels economic uncertainty and adds fresh strain to Washington-Beijing ties. In this story, part of a series examining how rivalry, interdependence and geopolitical crises are reshaping the relationship between the two powers, we examine how artificial intelligence (AI), chip controls and competing technology ecosystems are redefining US-China rivalry. Nvidia CEO Jensen Huang was the... https://www.scmp.com/economy/global-economy/article/3353180/chinas-ai-ascent-leaves-trump-stark-choice-escalate-or-relax-chip-controls?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3353180/chinas-ai-ascent-leaves-trump-stark-choice-escalate-or-relax-chip-controls?utm_source=rss_feed Mon, 11 May 2026 22:00:12 +0000 Carol Yang Carol Yang China’s shipyards have mounted an astonishing comeback after facing down US efforts to curb their dominance last year, as they saw orders for new vessels nearly double in the first quarter of 2026. Chinese shipbuilders received 59.53 million deadweight tonnes in new orders during the first three months of the year, a staggering 195.2 per cent increase compared with the same period last year, according to data released by the China Association of the National Shipbuilding Industry on... https://www.scmp.com/economy/china-economy/article/3353147/china-tightens-its-grip-global-shipbuilding-grabbing-85-new-orders?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3353147/china-tightens-its-grip-global-shipbuilding-grabbing-85-new-orders?utm_source=rss_feed Mon, 11 May 2026 14:30:06 +0000 Xinyi Wu Xinyi Wu The next round of US-China trade talks appears to be a rushed precursor intended to set the stage for President Donald Trump’s state visit to Beijing, according to analysts who expect only modest deliverables from the negotiations. Chinese Vice-Premier He Lifeng will meet US Treasury Secretary Scott Bessent in South Korea this week, both sides have confirmed, marking the latest in a series of diplomatic sprints intended to stabilise the world’s most consequential economic relationship. The... https://www.scmp.com/economy/global-economy/article/3353174/us-china-negotiations-seek-quick-seoul-search-deals-ahead-trumps-visit?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3353174/us-china-negotiations-seek-quick-seoul-search-deals-ahead-trumps-visit?utm_source=rss_feed Mon, 11 May 2026 13:00:09 +0000 Daniel Ren Daniel Ren The pace of electrification on western Europe’s roads is likely to fire up sales of Chinese-developed smart cars, where they could command a 20 per cent share of the regional market in 2028 at the expense of local peers, according to a JPMorgan forecast. Chinese carmakers from BYD, the world’s largest electric vehicle (EV) builder, to Stallentis-backed Leapmotor, were expected to deliver 2.5 million cars to customers in countries like Germany, Italy, France and the United Kingdom in 2028, a... https://www.scmp.com/business/china-business/article/3353170/chinese-smart-cars-set-control-20-western-european-market-2028-jpmorgan?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3353170/chinese-smart-cars-set-control-20-western-european-market-2028-jpmorgan?utm_source=rss_feed Mon, 11 May 2026 11:56:52 +0000 Neil Denslow,Raymond Ma Neil Denslow,Raymond Ma Chinese Vice-Premier He Lifeng and US Treasury Secretary Scott Bessent will meet for trade talks in Seoul on Wednesday, probably to iron out final details before a presidential summit in Beijing the following day. The discussions would focus on “economic and trade issues of mutual concern”, China’s Ministry of Commerce said on Sunday. The country also confirmed that US President Donald Trump will make a state visit from Wednesday to Friday, the first by a US president in almost nine years. Trump... https://www.scmp.com/plus/economy/china-economy/article/3353144/china-readies-trump-visit-amid-rebound-trade-growth?utm_source=rss_feed https://www.scmp.com/plus/economy/china-economy/article/3353144/china-readies-trump-visit-amid-rebound-trade-growth?utm_source=rss_feed Mon, 11 May 2026 09:03:07 +0000 Sylvia Ma Sylvia Ma China’s first-quarter marriage registrations fell to their lowest level for the same period since 2020, as the country continued to grapple with persistent demographic challenges amid a declining birth rate and a shrinking population. In the first three months of this year, 1.697 million couples in China tied the knot, down 6.24 per cent from the same period last year, according to data released by the Ministry of Civil Affairs on Saturday. The figure marked the lowest first-quarter total since... https://www.scmp.com/economy/china-economy/article/3353108/chinas-marriage-numbers-plunge-covid-era-low-population-woes-deepen?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3353108/chinas-marriage-numbers-plunge-covid-era-low-population-woes-deepen?utm_source=rss_feed Mon, 11 May 2026 06:01:39 +0000 He Huifeng He Huifeng A major benchmark of China’s factory-gate prices continued to rise last month, as the energy shock linked to the US-Israel war on Iran weighs on producers in the world’s second-largest economy. After returning to growth for the first time in more than three years the month before, the producer price index (PPI) recorded a higher-than-expected year-on-year increase of 2.8 per cent in April, according to the National Bureau of Statistics (NBS). This followed March’s 0.5 per cent year-on-year... https://www.scmp.com/economy/economic-indicators/article/3353089/chinas-producer-consumer-inflation-april-iran-war-pressures-persist?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3353089/chinas-producer-consumer-inflation-april-iran-war-pressures-persist?utm_source=rss_feed Mon, 11 May 2026 03:54:15 +0000 Fan Hou,Haining Gao Fan Hou,Haining Gao – https://www.scmp.com/plus/economy/article/3353080/sino-japanese-relations?utm_source=rss_feed https://www.scmp.com/plus/economy/article/3353080/sino-japanese-relations?utm_source=rss_feed Mon, 11 May 2026 02:23:28 +0000 Tony Zhao Tony Zhao China may finally have a chance to loosen the grip of deflation. Yet, the more important question is whether it can do so without making households feel poorer first. The latest producer price index (PPI), which measures the prices factories charge, brings that possibility back into serious debate. China’s March PPI rose by 0.5 per cent year on year, ending 41 months of decline; it was up 1 per cent from February. After years of weak prices, cautious household spending and squeezed corporate... https://www.scmp.com/opinion/china-opinion/article/3352619/can-china-engineer-price-recovery-doesnt-make-people-feel-poorer?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3352619/can-china-engineer-price-recovery-doesnt-make-people-feel-poorer?utm_source=rss_feed Sun, 10 May 2026 08:30:04 +0000 Frank Chen Frank Chen China’s flagship civilian aircraft maker is planning to upgrade the cabin capacity of its C919 narrowbody airliner to improve passenger experience and boost the plane’s chances of challenging the Boeing-Airbus duopoly, a source with knowledge of the plans said. Bigger overhead luggage compartments and drip-proof air conditioning outlets are among the design upgrades being sketched out by the Commercial Aircraft Corporation of China (Comac). “Comac has realised it must make passengers as... https://www.scmp.com/economy/china-economy/article/3352901/chinas-comac-looking-upgrade-c919-flying-experience-more-cabin-luggage-capacity?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3352901/chinas-comac-looking-upgrade-c919-flying-experience-more-cabin-luggage-capacity?utm_source=rss_feed Sun, 10 May 2026 08:00:12 +0000 Christine Loh Christine Loh There is growing unease in how we describe political systems today. Words that once seemed clear no longer illuminate as they should. “Free”, “democratic”, “liberal” and “authoritarian” are among the most commonly used terms in political discourse, yet their meanings have become increasingly blurred and contested. This is not simply a matter of semantics. It reflects a deeper mismatch between the language we use and the realities we are trying to describe. The problem is not new. In George... https://www.scmp.com/opinion/china-opinion/article/3352499/rise-china-complicates-authoritarian-vs-democratic-binary?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3352499/rise-china-complicates-authoritarian-vs-democratic-binary?utm_source=rss_feed Sun, 10 May 2026 01:30:05 +0000 Yeon Woo Lee Yeon Woo Lee China wants artificial intelligence to become a new engine of growth, powering everything from factory upgrades to scientific discovery. But outside the country’s technology hubs, the economic benefits promised by AI may be harder to realise. Recent studies suggest that AI will widen regional divides. Big cities with deep pools of talent, capital and innovative firms are best placed to adopt the technology, while smaller cities and rural areas may struggle to keep up. According to analysts, the... https://www.scmp.com/economy/china-economy/article/3352918/chinas-ai-drive-seen-widening-wealth-gap-testing-common-prosperity-push?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3352918/chinas-ai-drive-seen-widening-wealth-gap-testing-common-prosperity-push?utm_source=rss_feed Sun, 10 May 2026 00:00:09 +0000 Karen Tian Karen Tian China’s trade with the United States has declined this year, official data shows, as US President Donald Trump heads to Beijing next week for a high-stakes visit that could determine the future of economic relations between the two superpowers. China’s merchandise exports to the US fell 10.2 per cent year on year to US$133.4 billion in the first four months of 2026, according to data released on Saturday by the General Administration of Customs. Imports from the US also declined 10.9 per cent to... https://www.scmp.com/economy/global-economy/article/3352992/not-decoupling-what-us-china-trade-data-signals-ahead-xi-trump-summit?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3352992/not-decoupling-what-us-china-trade-data-signals-ahead-xi-trump-summit?utm_source=rss_feed Sat, 09 May 2026 11:00:05 +0000 Anthony Rowley Anthony Rowley In the 1980s, then Malaysian prime minister Mahathir Mohamad launched his “Look East” policy, urging his country and others in Southeast Asia to emulate the state-led economic development models of Japan, South Korea and Taiwan, rather than those of market-dominated Western nations. China subsequently emerged as a prime example of state-led development, but Japan is now leaning again towards a more dirigiste model under the administration of Japanese Prime Minister Sanae Takaichi, not only in... https://www.scmp.com/opinion/asia-opinion/article/3352752/how-japans-new-economic-model-could-inspire-others-look-east?utm_source=rss_feed https://www.scmp.com/opinion/asia-opinion/article/3352752/how-japans-new-economic-model-could-inspire-others-look-east?utm_source=rss_feed Sat, 09 May 2026 08:30:06 +0000 Carol Yang Carol Yang Online content writer Phoebe Zhao is packing her bags to leave Beijing after two years in the Chinese capital. But the 26-year-old is not heading back to her hometown in northeastern China’s Heilongjiang province. She is opting instead to pursue postgraduate study in Shanghai, hoping it will serve as a springboard to career opportunities in the surrounding Yangtze River Delta. People born in northern China in the 1980s and ’90s used to consider Beijing the best place to build a career. But for... https://www.scmp.com/economy/china-economy/article/3352898/why-gen-z-abandoning-beijing-greener-fields-elsewhere-china?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3352898/why-gen-z-abandoning-beijing-greener-fields-elsewhere-china?utm_source=rss_feed Sat, 09 May 2026 08:00:10 +0000 Carol Yang Carol Yang China’s export sector showed strong resilience last month, with the total value of outbound shipments hitting a monthly record even as the Strait of Hormuz crisis during the US-Israeli war in Iran showed little sign of abating after driving up energy and shipping costs. The value of China’s exports rose in April by 14.1 per cent, year on year, to US$359.44 billion, according to data released by the General Administration of Customs on Saturday. The reading was above the 6.96 per cent growth... https://www.scmp.com/economy/economic-indicators/article/3352970/china-trade-growth-resilient-april-despite-hormuz-crisis-inflating-costs?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3352970/china-trade-growth-resilient-april-despite-hormuz-crisis-inflating-costs?utm_source=rss_feed Sat, 09 May 2026 02:52:59 +0000 Ralph Jennings Ralph Jennings China has moved early to help Laos plan its longest highway, the latest project in Beijing’s push to expand transport connectivity in Southeast Asia. The initiative underscores Beijing’s broader effort to strengthen its economic footprint in the region through roads and railway infrastructure, as it seeks alternative trade routes amid a fractious relationship with the United States. Laos is conducting route surveys for an expressway linking the capital Vientiane to its northeastern border with... https://www.scmp.com/economy/global-economy/article/3352896/how-china-backed-highway-may-turn-landlocked-laos-trade-gateway?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3352896/how-china-backed-highway-may-turn-landlocked-laos-trade-gateway?utm_source=rss_feed Fri, 08 May 2026 23:00:11 +0000 Daniel Ren Daniel Ren Leapmotor, one of China’s strongest-performing electric vehicle (EV) makers this year, has taken a major step towards building cars locally for European customers after agreeing with shareholder Stellantis to add a line at a Spanish plant previously earmarked for Opel. The Hangzhou-based company and Stellantis, owner of Peugeot, Fiat and Jeep, would jointly build Opel’s new fully electric C-sport utility vehicles (SUVs) and B10 models at the Figueruelas plant in Zaragoza, according to a... https://www.scmp.com/business/china-business/article/3352948/chinese-ev-maker-leapmotor-taps-stellantis-spanish-plant-eu-production?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3352948/chinese-ev-maker-leapmotor-taps-stellantis-spanish-plant-eu-production?utm_source=rss_feed Fri, 08 May 2026 13:40:59 +0000 Carol Yang Carol Yang China’s shipping giants are bracing for a harsh new reality of persistent global volatility, as the closure of the Strait of Hormuz shifts from being a problem of transit delays to a hard volume shock. With the crucial energy corridor still paralysed as the US-Israel war on Iran drags on with no clear end in sight, China’s state-backed shipping majors are doubling down on long-term contracts and creating new multimodal routes in an attempt to hedge against future shocks. Cosco Shipping Holdings,... https://www.scmp.com/economy/china-economy/article/3352902/chinas-shipping-firms-brace-new-era-chaos-iran-war-drags?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3352902/chinas-shipping-firms-brace-new-era-chaos-iran-war-drags?utm_source=rss_feed Fri, 08 May 2026 13:30:06 +0000 Karen Tian Karen Tian Overseas-invested securities firms collectively saw income from their China businesses skyrocket in 2025, as combined net profits climbed more than fourfold from a year earlier to 2.65 billion yuan (US$390 million), according to their annual reports. However, while the industry’s bottom line surged last year – fuelled by China’s lifting of capital restrictions and a rebound in the capital market – the individual performances of firms showed a widening gap in scale. A South China Morning Post... https://www.scmp.com/economy/china-economy/article/3352912/wall-street-giants-lead-china-profit-surge-despite-market-polarisation-uneven-recovery?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3352912/wall-street-giants-lead-china-profit-surge-despite-market-polarisation-uneven-recovery?utm_source=rss_feed Fri, 08 May 2026 12:00:15 +0000 Alice Li Alice Li China’s rapid technological gains and aggressive pricing are making it increasingly difficult for South Korean firms to find profitable areas of industrial synergy with their Chinese counterparts, according to experts. Speakers at a recent forum in Beijing urged firms from both countries to pivot towards building more interdependent ecosystems in high-growth sectors such as batteries and artificial intelligence, while also calling for the advancement of negotiations towards an upgraded... https://www.scmp.com/economy/global-economy/article/3352913/how-chinas-sharper-tech-edge-forces-south-korea-rethink-decades-industrial-ties?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3352913/how-chinas-sharper-tech-edge-forces-south-korea-rethink-decades-industrial-ties?utm_source=rss_feed Fri, 08 May 2026 10:30:13 +0000 Raymond Ma,Neil Denslow Raymond Ma,Neil Denslow US President Donald Trump will bring a scaled-back group of chief executive officers with him on a trip to Beijing next week, reflecting limited expectations for a summit that may be overshadowed by the war on Iran. The White House considered inviting about a dozen business leaders on the May 14-15 trip, compared with the 29 high-profile executives on Trump’s last visit in 2017, Reuters said, citing unidentified people briefed on preparations. Nvidia, Apple and Boeing are among the companies... https://www.scmp.com/plus/news/china/diplomacy/article/3352886/trumps-beijing-trip-iran-war-diplomacy-tech-earnings?utm_source=rss_feed https://www.scmp.com/plus/news/china/diplomacy/article/3352886/trumps-beijing-trip-iran-war-diplomacy-tech-earnings?utm_source=rss_feed Fri, 08 May 2026 09:00:11 +0000 Kandy Wong,Frank Chen Kandy Wong,Frank Chen The administration of US President Donald Trump is inviting American CEOs from Boeing, Mastercard, Citigroup and other major corporations to join his delegation to China next week, according to multiple sources. Trump is visiting China on May 14 and 15 after his scheduled visit for March 31 was postponed following the US-Israeli strikes on Iran. Boeing, Mastercard and Citigroup declined to comment, but sources said several CEOs had received invitations from the White House. A full list of... https://www.scmp.com/economy/global-economy/article/3352883/trump-invites-boeing-mastercard-ceos-join-china-trip-next-week-sources?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3352883/trump-invites-boeing-mastercard-ceos-join-china-trip-next-week-sources?utm_source=rss_feed Fri, 08 May 2026 08:31:53 +0000 David Dodwell David Dodwell Even as “China shock 2.0” is roiling Western manufacturers, we must, it seems, brace for “China shock 3.0” – to the global food economy – as President Xi Jinping doubles down on the imperative that has obsessed Beijing for decades: food security. “China’s Food Future”, a consultation paper by Systemiq funded by the California-based Gordon and Betty Moore Foundation, warns that China is poised to “reshape global agricultural commodity supply chains”. It suggests China is set to apply to... https://www.scmp.com/opinion/china-opinion/article/3352799/prepare-china-shock-30-global-food-economy?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3352799/prepare-china-shock-30-global-food-economy?utm_source=rss_feed Fri, 08 May 2026 08:30:05 +0000 Xiaofei Xu Xiaofei Xu As the world held its breath over the fate of the Middle East this week, France has been gripped by a very different story: a scandal over a chewy rubber giraffe. Sophie la Girafe, the country’s national toy, has long been a symbol of “made in France” craftsmanship, sold as a gift to newborns across the country. But this week, it was revealed the beloved toy has secretly been manufactured in China for the past decade. Vulli, the company behind the toy, quietly began moving production to China as... https://www.scmp.com/economy/global-economy/article/3352872/fury-france-national-toy-revealed-be-secretly-made-china?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3352872/fury-france-national-toy-revealed-be-secretly-made-china?utm_source=rss_feed Fri, 08 May 2026 07:56:14 +0000 Daniel Ren Daniel Ren Tesla’s Shanghai factory reported a big year-on-year rise in deliveries last month as it benefited from local governments’ subsidies and increasing interest in electric vehicles (EVs) amid the global energy shock. The US carmaker said in a statement that the so-called Gigafactory delivered 74,478 units in April, up 36 per cent from the same period in 2025. The number comprises sales in mainland China and exports to overseas markets. However, on a month-to-month basis the factory’s sales in April... https://www.scmp.com/business/china-business/article/3352856/tesla-china-posts-36-sales-rise-local-rivals-new-models-nip-heels?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3352856/tesla-china-posts-36-sales-rise-local-rivals-new-models-nip-heels?utm_source=rss_feed Fri, 08 May 2026 06:34:44 +0000 Carol Yang Carol Yang China’s rapidly growing low-altitude economy has reached a new milestone, with the first four domestically trained commercial airship pilots receiving their licences – a step officials believe could help address a critical talent shortage in the sector. Issued by the Civil Aviation Administration of China (CAAC), the licences “signify a breakthrough that addresses the vacuum”, the state-owned Aviation Industry Corporation of China (AVIC) said in a statement this week. AVIC said the achievement... https://www.scmp.com/economy/china-economy/article/3352833/china-marks-milestone-first-home-certified-airship-pilots?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3352833/china-marks-milestone-first-home-certified-airship-pilots?utm_source=rss_feed Fri, 08 May 2026 03:00:31 +0000 Sylvia Ma Sylvia Ma China is poised to leverage the humanoid and robotics market to consolidate its dominance over global manufacturing – a move that echoes its decade-long rise to the top of the electric vehicle (EV) sector, according to a new report. “Looking ahead, humanoids and robots will be the next key driver of China’s export machinery over the coming 5 to 10 years,” analysts from Morgan Stanley said in a note. “Indeed, we see parallels between the development of the humanoids and robots industry and that... https://www.scmp.com/economy/global-economy/article/3352781/humanoids-robots-drive-next-chapter-chinas-manufacturing-dominance-morgan-stanley?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3352781/humanoids-robots-drive-next-chapter-chinas-manufacturing-dominance-morgan-stanley?utm_source=rss_feed Fri, 08 May 2026 01:11:22 +0000 Daniel Ren Daniel Ren Beijing’s tighter oversight of vicious price competition in the automotive sector is expected to increase borrowing pressure on mainland carmakers and accelerate the exit of weaker, debt-laden players amid softening consumer demand, according to S&P Global Ratings. The warning is likely to deepen bearish sentiment surrounding mainland China’s more than 100 car assemblers, many of which have been at the forefront of global electric vehicle (EV) technology and production. “Financially fragile... https://www.scmp.com/business/china-business/article/3352760/chinas-move-cut-ev-payment-cycles-may-push-weaker-carmakers-out-sp?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3352760/chinas-move-cut-ev-payment-cycles-may-push-weaker-carmakers-out-sp?utm_source=rss_feed Thu, 07 May 2026 23:00:11 +0000 Frank Chen Frank Chen US President Donald Trump’s landmark visit to China comes as the US-Iran war disrupts global energy supplies, fuels economic uncertainty and adds fresh strain to Washington-Beijing ties. In this series examining how rivalry, interdependence and geopolitical crises are reshaping the relationship between the two powers, we weigh the odds of a major deal for Boeing aircraft after nearly a decade without a significant order from Chinese airlines. Shanghai Airlines was flying high in 2018. One year... https://www.scmp.com/economy/china-economy/article/3352756/wrapped-boeing-will-trumps-china-visit-include-another-aircraft-deal?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3352756/wrapped-boeing-will-trumps-china-visit-include-another-aircraft-deal?utm_source=rss_feed Thu, 07 May 2026 22:00:07 +0000 Dominik Mierzejewski Dominik Mierzejewski As Beijing increasingly sees the country as a chessboard, the central government is no longer simply asking every province to grow faster; it wants them to grow differently. Reporting on the end of the 14th five-year plan and preparation for the 15th five-year plan frames provinces and cities as specialised implementation units, reflecting a territorial division of labour. The central government wants provinces to find their rightful place in national development and act in accordance with their... https://www.scmp.com/opinion/china-opinion/article/3352501/why-beijing-wants-provinces-find-their-own-productive-forces?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3352501/why-beijing-wants-provinces-find-their-own-productive-forces?utm_source=rss_feed Thu, 07 May 2026 12:30:05 +0000 Xiaofei Xu Xiaofei Xu Beijing says it firmly opposes the European Commission’s decision to cut EU funding for clean energy projects that use Chinese inverters, denouncing the move as “unfair and discriminatory” and vowing to take action to defend the interests of its firms. “Without any substantive evidence, the European side has for the first time designated China as a so-called ‘high-risk country’ … this constitutes a smearing of China,” the Ministry of Commerce said in a statement on Thursday. It warned that... https://www.scmp.com/economy/global-economy/article/3352796/china-vows-action-after-eu-cuts-funding-green-projects-using-chinese-inverters?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3352796/china-vows-action-after-eu-cuts-funding-green-projects-using-chinese-inverters?utm_source=rss_feed Thu, 07 May 2026 12:28:05 +0000