https://www.scmp.com/rss/329250/feed en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Wang Huiyao Wang Huiyao Few developments over the past quarter century have been as consequential or widely debated as China’s ascent to global prominence as the vanguard of a rising Global South. To understand this change, we must look not only at outcomes but at the underlying drivers that made them possible. China’s development over the last 25 years did not occur by accident. It was not the result of any single policy. Rather, it was the cumulative product of farsighted design and vision as well as an evolving... https://www.scmp.com/opinion/china-opinion/article/3338103/key-lessons-chinas-ascent-over-past-25-years?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3338103/key-lessons-chinas-ascent-over-past-25-years?utm_source=rss_feed Thu, 01 Jan 2026 01:30:09 +0000 Michael Tai Michael Tai When President Xi Jinping hosted his Russian counterpart Vladimir Putin at the Shanghai Cooperation Organisation (SCO) summit in Tianjin earlier this year, the choreography was familiar: smiles, handshakes and talk of a “multipolar world order”. Yet beneath the symbolism lies an imbalance impossible to miss. China radiated the poise of a civilisation sure of its trajectory; Russia exuded the defiance of a power seeking reassurance. The meeting, intended to display Eurasian unity, instead... https://www.scmp.com/opinion/china-opinion/article/3334916/while-china-exudes-confidence-russia-held-back-yearning?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3334916/while-china-exudes-confidence-russia-held-back-yearning?utm_source=rss_feed Sun, 07 Dec 2025 21:30:08 +0000 Cui Jianchun Cui Jianchun The most important outcome of the Communist Party of China’s fourth plenum, held last month in Beijing, was the review and adoption of the “Recommendations of the CPC Central Committee on Formulating the 15th Five-Year Plan for National Economic and Social Development”. Leading the drafting team in person, Communist Party General Secretary and Chinese President Xi Jinping played a decisive role in formulating the recommendations by setting the overall vision and providing guidance throughout the... https://www.scmp.com/opinion/china-opinion/article/3332731/15th-five-year-plan-charts-course-chinas-modernisation?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3332731/15th-five-year-plan-charts-course-chinas-modernisation?utm_source=rss_feed Mon, 17 Nov 2025 12:30:09 +0000 Bernard Chan Bernard Chan The election of Zohran Mamdani as New York’s mayor has drawn worldwide attention, resonating well beyond US borders. His self-description as a “democratic socialist” has reignited familiar debates, sparking curiosity and concern. Critics have labelled him a communist and portrayed his political programme as a radical departure from the American mainstream. Meanwhile, supporters view his victory as a sign of a generational shift – a growing impatience with the inequalities present in many... https://www.scmp.com/opinion/world-opinion/article/3332499/why-zohran-mamdanis-new-york-election-win-resonates-beyond-us?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3332499/why-zohran-mamdanis-new-york-election-win-resonates-beyond-us?utm_source=rss_feed Thu, 13 Nov 2025 21:30:11 +0000 Ningrong Liu Ningrong Liu China’s 15th five-year plan is more than a policy blueprint; it is a pivotal turning point. This plan and the next one will define an era of innovation-led growth, solidifying China’s status as a major power and peer competitor to the United States. Since the reform and opening-up policy was launched, China’s economic development has had distinct phases. The 1978-1992 period marked the initial stage of opening up. Reform and opening-up was imperative in the wake of economic challenges after the... https://www.scmp.com/opinion/china-opinion/article/3330435/chinas-transition-global-powerhouse-hinges-more-innovation?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3330435/chinas-transition-global-powerhouse-hinges-more-innovation?utm_source=rss_feed Mon, 27 Oct 2025 21:30:08 +0000 Ningrong Liu Ningrong Liu As Shenzhen approaches 45 years as a special economic zone (SEZ), the importance of opening up in driving China’s progress was stressed by none other than Huawei Technologies founder Ren Zhengfei. “The more open the country becomes, the more it will drive our progress,” he told People’s Daily in a recent interview, speaking also of the importance of basic research, education and talent development. Soon after, the government outlined reforms to accelerate the development of hi-tech emerging... https://www.scmp.com/opinion/hong-kong-opinion/article/3314813/hong-kongs-research-strength-vital-chinas-third-wave-reform?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3314813/hong-kongs-research-strength-vital-chinas-third-wave-reform?utm_source=rss_feed Fri, 20 Jun 2025 21:30:08 +0000 Lijia Zhang Lijia Zhang Once again, I find myself in sun-drenched Morocco, a North African country steeped in history and culture. I’ve come to bask in the warmth, balancing my days between writing and wandering – one of the joys of being able to work from anywhere. At the moment, I am perched on the roof terrace of a co-living hostel, sipping mint tea. Below, the cheerful voices of Berber children playing football echo through narrow streets, while the adhan, the Islamic call to prayer, floats in the air. In the... https://www.scmp.com/opinion/china-opinion/article/3293444/once-chinese-frog-well-im-now-living-my-travel-dreams?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3293444/once-chinese-frog-well-im-now-living-my-travel-dreams?utm_source=rss_feed Sat, 03 May 2025 01:30:09 +0000 Paul French Paul French What do you do when you’re the two best-known contemporary artists in Britain, you’re at the top of your game and you’re itching to conquer the international art world? That was the question facing the London-based duo Gilbert & George in 1993, and their answer at the time, however counter-intuitively, was China. The controversial pair had long divided British art critics as to whether they were national treasures or merely, as the London Evening Standard’s influential pundit Brian Sewell once... https://www.scmp.com/postmag/culture/article/3295898/when-brit-art-world-provocateurs-gilbert-george-went-china?utm_source=rss_feed https://www.scmp.com/postmag/culture/article/3295898/when-brit-art-world-provocateurs-gilbert-george-went-china?utm_source=rss_feed Thu, 30 Jan 2025 06:00:10 +0000 China’s engineering prowess has been nothing short of extraordinary. From world-class infrastructure and eco-friendly cities to space systems and high-speed trains, China’s impressive accumulation of state-of-the-art physical capital has played a dominant role in driving its economy. But China’s physical engineering accomplishments on the supply side have not been transferable to social engineering efforts on the demand side, especially in stimulating consumer demand. The disconnect arises out... https://www.scmp.com/opinion/china-opinion/article/3291661/why-china-will-struggle-boost-consumption?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3291661/why-china-will-struggle-boost-consumption?utm_source=rss_feed Fri, 20 Dec 2024 08:30:08 +0000 The Musk-Ramaswamy duet is gearing up for one of the most ambitious reform projects in US political history. Appointed to president-elect Donald Trump’s proposed Department of Government Efficiency, their mission is to overhaul the government, make it smaller, streamline bureaucracy and ultimately transform the way America operates. It’s a grand vision to tackle some of the country’s most entrenched problems. There might be a lesson or two to be learned from China’s rich history of reformers.... https://www.scmp.com/opinion/china-opinion/article/3290381/what-elon-musk-and-vivek-ramaswamy-can-learn-chinas-reformers?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3290381/what-elon-musk-and-vivek-ramaswamy-can-learn-chinas-reformers?utm_source=rss_feed Sun, 15 Dec 2024 01:30:07 +0000 In 2017, at its highest-level financial work conference, China stressed the need for the country’s financial affairs to be under centralised and unified party leadership. This was reaffirmed at the five-yearly conference last year, which spoke of strengthening party leadership over the financial sector. Since last year, China’s evolving financial regulatory reform has sparked widespread debate in the international media. Critics warn that heightened centralisation and political oversight could,... https://www.scmp.com/opinion/china-opinion/article/3287782/chinas-move-centralise-oversight-financial-sector-shouldnt-be-feared?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3287782/chinas-move-centralise-oversight-financial-sector-shouldnt-be-feared?utm_source=rss_feed Wed, 27 Nov 2024 08:30:11 +0000 Back in 2022, when China was in the midst of strict zero-Covid controls, which involved frequent and sudden citywide lockdowns and stay-at-home notices, I met an overseas Chinese entrepreneur, whom I deeply respect, in Tianjin during one of the rare, blissful interludes. His conglomerate is one of China’s largest foreign investors, with businesses scattered across the country. During our conversation, he offered an observation that has stuck with me. Fresh from lengthy meetings with local... https://www.scmp.com/opinion/china-opinion/article/3284893/how-can-chinas-reforms-succeed-when-officials-act-overbearing-parents?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3284893/how-can-chinas-reforms-succeed-when-officials-act-overbearing-parents?utm_source=rss_feed Mon, 04 Nov 2024 21:30:07 +0000 “Where the hills and streams end and there seems no road beyond, amid shading willows and blooming flowers, another village appears.” This quote from the great poet Lu You describes a situation in which even though things look bad, events have actually taken a turn for the better. After years of reading negative news about Confucius Institutes, I feel that it’s quite fitting to apply this line to one of China’s other outreach efforts, Luban workshops. Confucius Institutes are supposed to “tell... https://www.scmp.com/opinion/china-opinion/article/3276070/can-china-build-two-way-bridges-global-south-partners?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3276070/can-china-build-two-way-bridges-global-south-partners?utm_source=rss_feed Fri, 30 Aug 2024 01:30:10 +0000 China concluded its third plenum last month, which came off the back of lower-than-expected second-quarter GDP growth of 4.7 per cent. The outcome of the plenary session was a disappointment, once again, for Western analysts who seem bent on pressing China for more stimulus to boost its gross domestic product. Economic development is a tenet of China’s social contract. President Xi Jinping warned, in his new year speech, that “some enterprises had a tough time”, and “some people had difficulty... https://www.scmp.com/opinion/china-opinion/article/3275350/why-chinas-gdp-growth-needs-be-read-against-its-social-contract?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3275350/why-chinas-gdp-growth-needs-be-read-against-its-social-contract?utm_source=rss_feed Sun, 25 Aug 2024 21:30:14 +0000 It is no exaggeration to say that China would scarcely exist in its current form had not Deng Xiaoping launched the country on its path to reform and opening up at the third plenum of the Communist Party in 1978. Long credited as the architect of China’s market reforms, Deng started the country on a path to modernisation that helped transform it from one of the world’s least developed economies into the powerhouse it is today. All the more reason to mark Thursday, the 120th anniversary of Deng’s... https://www.scmp.com/opinion/article/3275388/modern-powerful-china-legacy-deng-xiaoping-born-120-years-ago?utm_source=rss_feed https://www.scmp.com/opinion/article/3275388/modern-powerful-china-legacy-deng-xiaoping-born-120-years-ago?utm_source=rss_feed Wed, 21 Aug 2024 18:32:32 +0000 The Communist Party’s long-awaited third plenum seems to not have grabbed the expected amount of attention, both inside and outside China. One of the explanations is that the plenum failed to meet expectations for significant reforms. In particular, there were no announcements of any concrete measures to boost China’s low domestic consumption levels – widely acknowledged as a major problem for the country’s economy. However, the third plenum is not oriented towards solving short-term problems.... https://www.scmp.com/opinion/china-opinion/article/3274143/chinas-third-plenum-shows-its-reform-era-has-entered-new-phase?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3274143/chinas-third-plenum-shows-its-reform-era-has-entered-new-phase?utm_source=rss_feed Tue, 13 Aug 2024 08:30:11 +0000 Western media analysts often fail to grasp the significance of the reforms initiated at the third plenum of the Communist Party of China, which recently concluded in Beijing. The Communist Party typically holds seven plenary sessions during each five-year term of its Central Committee, and the third is particularly important as major policy directions and reforms are often introduced. The 1978 third plenum marked the beginning of China’s reform and opening up, a policy introduced by Deng... https://www.scmp.com/opinion/china-opinion/article/3273373/what-china-watchers-should-know-about-where-country-headed?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3273373/what-china-watchers-should-know-about-where-country-headed?utm_source=rss_feed Thu, 08 Aug 2024 08:45:08 +0000 Decentralisation of decision-making from the central government to local authorities is widely regarded as one of China’s most effective policy reforms of the past four decades. As the Communist Party’s priorities shifted from class struggle to economic development, decentralisation turned out to be a tremendous catalyst for growth. Compared to the centrally planned system, local governments were better positioned to tailor economic decisions to local conditions. Local governments were also... https://www.scmp.com/opinion/china-opinion/article/3273016/era-entrepreneurial-chinese-local-government-over?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3273016/era-entrepreneurial-chinese-local-government-over?utm_source=rss_feed Sat, 03 Aug 2024 07:15:09 +0000 In China, people are notoriously practical when it comes to selecting college majors. My personal experience illustrates that. After ranking among the top 10 students in my home province’s college entrance examination scores, I received unsolicited advice on picking majors. My parents were counselled to steer me away from journalism, as it no longer promised a decent job placement after graduation. I was also cautioned against majoring in international economics, despite my high scores, because... https://www.scmp.com/opinion/china-opinion/article/3272476/chinese-graduates-opt-government-jobs-what-private-sector?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3272476/chinese-graduates-opt-government-jobs-what-private-sector?utm_source=rss_feed Fri, 02 Aug 2024 01:30:11 +0000 In China, people are notoriously practical when it comes to selecting college majors. My personal experience illustrates that. After ranking among the top 10 students in my home province’s college entrance examination scores, I received unsolicited advice on picking majors. My parents were counselled to steer me away from journalism, as it no longer promised a decent job placement after graduation. I was also cautioned against majoring in international economics, despite my high scores, because... https://www.scmp.com/plus/article/3272599/chinese-graduates-opt-public-posts-what-private-sector?utm_source=rss_feed https://www.scmp.com/plus/article/3272599/chinese-graduates-opt-public-posts-what-private-sector?utm_source=rss_feed Wed, 31 Jul 2024 06:50:30 +0000 The Communist Party of China is about to hold its much-delayed third plenum, traditionally a time for unveiling major economic strategies for the next five to 10 years. The second of a six-part preview series looks at the likelihood of any major reforms to open up rural land ownership, amid the glut of real estate stock and the economic downturn. In 1978, 18 farmers in a small village in China met in secret to sign an agreement that they would divide their village’s collectively owned land... https://www.scmp.com/economy/china-economy/article/3267338/calls-chinese-rural-land-reform-get-louder-will-beijing-take-soft-approach?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3267338/calls-chinese-rural-land-reform-get-louder-will-beijing-take-soft-approach?utm_source=rss_feed Fri, 21 Jun 2024 22:00:10 +0000 Zhong Shanshan, China’s bottled water king, remains the richest man in China, according to the Hurun Global Rich List 2024. But few people in China, it seems, are in the mood for congratulations. The rich list came out last month, right after Zhong, the founder of Nongfu Spring, found himself caught in the eye of an internet storm. A large number of nationalist internet users in China had attacked him, accusing his firm of, among other things, having pictures of Japanese religious buildings on... https://www.scmp.com/opinion/china-opinion/article/3257473/why-nongfu-springs-online-attackers-are-no-chinese-patriots?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3257473/why-nongfu-springs-online-attackers-are-no-chinese-patriots?utm_source=rss_feed Thu, 04 Apr 2024 01:30:22 +0000 China must put the economic onus on better implementation and coordination in reforms to address deep-rooted issues and energise growth, according to fresh calls in state media. Effective and targeted reforms are essential to stimulate the vitality of all market participants, the state-run Economic Daily said in a front-page commentary on Monday, signalling Beijing’s amped-up emphasis on reform to bolster the nation’s economy. The calls came amid market expectations for new policies on further... https://www.scmp.com/economy/china-economy/article/3252456/chinas-economic-reforms-hinge-creative-and-courageous-changes-state-media-says-warning-wasted?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3252456/chinas-economic-reforms-hinge-creative-and-courageous-changes-state-media-says-warning-wasted?utm_source=rss_feed Tue, 20 Feb 2024 01:00:20 +0000 China’s former paramount leader Deng Xiaoping died on February 19, 1997. The country’s mourning reached a peak a week later when a memorial service was held in Beijing. As a high school student watching the live broadcast on a tiny classroom television, I saw then Chinese president Jiang Zemin tearfully deliver Deng’s eulogy. Twenty-seven years have passed since Deng’s death, but it seems that today there are different interpretations about his legacy. It is disappointing and worrying to see the... https://www.scmp.com/comment/article/3252444/chinese-government-must-stop-chipping-away-deng-xiaopings-economic-legacy?utm_source=rss_feed https://www.scmp.com/comment/article/3252444/chinese-government-must-stop-chipping-away-deng-xiaopings-economic-legacy?utm_source=rss_feed Mon, 19 Feb 2024 23:00:10 +0000 Ten years ago, the Third Plenum of the Communist Party Central Committee aimed to allow the market to play a decisive role in resource allocation. In contrast, the recent central financial work conference emphasised upholding party leadership and keeping finance people-oriented. This change in policy, with the state taking precedence over the market, sets the tone for the next plenary meeting. The reform promises of 2013 have been unevenly implemented over the past decade. For example, consider... https://www.scmp.com/comment/opinion/article/3240464/chinas-economic-woes-cry-out-zhu-rongjis-spirit-bold-reform?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3240464/chinas-economic-woes-cry-out-zhu-rongjis-spirit-bold-reform?utm_source=rss_feed Tue, 07 Nov 2023 07:30:10 +0000 China has failed to achieve some major economic goals set a decade ago and needs to press on with reforms to reach them, a prominent pro-market researcher said on the weekend amid concerns about the increasingly state-led economy. Calling for bolder changes to boost the country’s lacklustre post-Covid growth, Chi Fulin, president of the Hainan-based China Institute for Reform and Development, said there had been a lack of substantial progress in goals set out in a national strategy in 2013,... https://www.scmp.com/economy/china-economy/article/3239575/chinas-future-economic-growth-rests-realising-decade-old-reform-goals-think-tank-chief-says?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3239575/chinas-future-economic-growth-rests-realising-decade-old-reform-goals-think-tank-chief-says?utm_source=rss_feed Mon, 30 Oct 2023 00:00:15 +0000 Members of the public gathered in cities with ties to Li Keqiang to pay tribute to the former premier on the weekend, laying masses of yellow and white flowers at landmarks associated with his life, according to footage posted online. Li, an advocate of economic reform, died suddenly on Friday morning in Shanghai. His body was flown to Beijing but there has been no official announcement of arrangements for his funeral. In Zhengzhou, the provincial capital of Henan, bunches of flowers mounted in... https://www.scmp.com/news/china/politics/article/3239598/li-keqiangs-heartland-flood-floral-tributes-chinas-former-premier?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3239598/li-keqiangs-heartland-flood-floral-tributes-chinas-former-premier?utm_source=rss_feed Sun, 29 Oct 2023 15:00:22 +0000 The phrase “opening up” has rich implications in China. Its original meaning was about Deng Xiaoping’s policy of welcoming foreign investment and technology, but it also has a strong ideological undertone of accepting new ideas. Economic liberalisation and tolerance of new views have been mutually reinforcing over the past few decades, pushing forward China’s development, and it is hard to say which is more important. To some extent, China’s economic growth in the last four decades would not... https://www.scmp.com/comment/opinion/article/3236510/chinas-opening-policy-risks-becoming-empty-promise-without-going-beyond-simple-business-deals?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3236510/chinas-opening-policy-risks-becoming-empty-promise-without-going-beyond-simple-business-deals?utm_source=rss_feed Mon, 02 Oct 2023 23:00:17 +0000 It is sometimes puzzling to find that many of the people who benefited a lot from China’s economic liberalisation still have strong feelings about the word “capital”, using it interchangeably with terms such as “greed”, “exploitation” or “evil”, depending on the context. While the country officially regards capital as one of the production factors in its socialist economy along with land, technology and data, private capital is still sometimes seen as a source of social problems, such as income... https://www.scmp.com/comment/opinion/article/3231782/entrepreneurs-are-hope-chinas-economic-future-so-stop-making-capital-dirty-word?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3231782/entrepreneurs-are-hope-chinas-economic-future-so-stop-making-capital-dirty-word?utm_source=rss_feed Mon, 21 Aug 2023 23:00:12 +0000 I have been a congenital China optimist for most of the past 25 years. I first came to that view in the depths of the Asian financial crisis in 1997-98. The so-called East Asian growth miracle was in tatters and China was widely portrayed as the final domino that would fall in what was then viewed as the first crisis of globalisation. Having shuttled back and forth to the region during that period as Morgan Stanley’s chief economist, I had quickly come to appreciate the power of China’s... https://www.scmp.com/comment/opinion/article/3204383/how-xi-jinpings-focus-security-and-control-punctures-decades-china-optimism?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3204383/how-xi-jinpings-focus-security-and-control-punctures-decades-china-optimism?utm_source=rss_feed Sat, 24 Dec 2022 00:15:18 +0000 Beijing’s overly “draconian” strings attached to investment policies, while giving the cold shoulder to existing foreign investors in China, threaten to undermine its goal of drumming up more inbound investment, according to a survey from an independent multinational think tank. The findings come as Beijing emphasised this week, during its 20th party congress, that China remains committed to further opening up – a commitment made amid growing concerns that the world’s second-largest economy is... https://www.scmp.com/economy/china-economy/article/3196643/chinas-vows-support-inbound-investment-fail-convince-foreign-firms-already-country-survey-finds?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3196643/chinas-vows-support-inbound-investment-fail-convince-foreign-firms-already-country-survey-finds?utm_source=rss_feed Fri, 21 Oct 2022 08:00:13 +0000 Politics and China have long been a tedious combination, requiring the delicate application of subtlety and ambiguity to straddle an omnipresent gap. The lengths required to keep one foot planted firmly on either side have now become so great that those attempting to maintain balance see that even the slightest wobble could result in a devastatingly steep fall, in terms of both career and personal relationships. The four decades following China’s exploration into reform and opening up saw levels... https://www.scmp.com/comment/opinion/article/3196198/china-closed-rest-world-loss-everyone?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3196198/china-closed-rest-world-loss-everyone?utm_source=rss_feed Mon, 17 Oct 2022 19:30:09 +0000 China’s progress in implementing market reforms has become “stagnated” in key areas, including competitiveness and openness to investment, according to findings outlined in an updated assessment of China’s economic development. Although the country’s progress has been “undeniable” by specific metrics, headwinds from the US-China trade war and fears over an exodus of foreign investment have dampened outlooks, according to the latest China Pathfinder report published by the Atlantic Council and... https://www.scmp.com/economy/china-economy/article/3195717/despite-chinas-vows-market-reform-progress-remains-stagnated?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3195717/despite-chinas-vows-market-reform-progress-remains-stagnated?utm_source=rss_feed Wed, 12 Oct 2022 16:00:14 +0000 Since the days of Deng Xiaoping, economic growth has mattered more than anything for China’s leaders. The 10 per cent annualised growth from 1980 to 2010 was seen as the antidote to the relative stasis of the Mao Zedong era, when the economy grew by only about 6 per cent. But under President Xi Jinping, the pendulum has swung back, with 6.6 per cent average growth from 2013 to 2021, closer to the trajectory under Mao than Deng. Some of the slowdown was inevitable as small economies are better... https://www.scmp.com/comment/opinion/article/3189971/how-china-sacrificed-economic-growth-altar-xi-jinping-thought?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3189971/how-china-sacrificed-economic-growth-altar-xi-jinping-thought?utm_source=rss_feed Wed, 24 Aug 2022 17:30:19 +0000 The chief of China’s top advisory body has moved to allay fears and quell suggestions that authorities are not doing enough to support the nation’s private companies, in Beijing’s latest attempt to reassure the jittery sector that is struggling amid pandemic lockdowns and regulatory crackdowns. The country will stick to its reform and opening-up policies, while the promise of “unswervingly” encouraging, supporting and guiding the development of the non-public sector will not change, and neither... https://www.scmp.com/economy/china-economy/article/3169576/two-sessions-2022-small-business-concerns-persist-chinas-no-4?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3169576/two-sessions-2022-small-business-concerns-persist-chinas-no-4?utm_source=rss_feed Mon, 07 Mar 2022 22:15:17 +0000 In the last two months, staff at subway stations in the Chinese capital Beijing and the neighbouring city of Tianjin have been on a mission. Signs and route maps with English names at the stations have come down and been replaced with ones with pinyin, or romanised, transliterations of the Chinese characters. Instead of maps pointing out the stop for Tianjin Binhai International Airport, the directions are now to Binhai Guo Ji Ji Chang. Beijing Railway Station is now referred to as Beijing Zhan,... https://www.scmp.com/news/china/diplomacy/article/3166246/deglobalisation-writing-wall-how-china-reversing-cultural?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3166246/deglobalisation-writing-wall-how-china-reversing-cultural?utm_source=rss_feed Tue, 08 Feb 2022 23:00:11 +0000 China’s ambitious plan to build a more open economic system in Shenzhen will present neighbouring Hong Kong with an opportunity to benefit from regional reform in the Greater Bay Area and also to serve as a model city that Shenzhen can learn from, according to analysts. Some argue that Shenzhen still has a lot of growing and developing to do as it strives to be a world-class city, and the new blueprint released this week addresses that by doubling down on the southern Chinese metropolis’s... https://www.scmp.com/economy/economic-indicators/article/3165178/chinas-big-shenzhen-plans-aim-transform-greater-bay?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3165178/chinas-big-shenzhen-plans-aim-transform-greater-bay?utm_source=rss_feed Sat, 29 Jan 2022 04:15:24 +0000 In just four decades, China’s economy has achieved an unprecedented level of wealth and development, and, until recently, its upwards trajectory of economic growth and prosperity seemed set to continue. But as political pressures and the coronavirus push many countries – particularly the United States – to embrace more nationalist policies, the heyday of globalisation could soon be replaced by a post-pandemic era shaped by national security concerns and border controls. This is not good news for... https://www.scmp.com/comment/opinion/article/3160237/why-china-holds-advantage-over-america-even-amid-deglobalisation?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3160237/why-china-holds-advantage-over-america-even-amid-deglobalisation?utm_source=rss_feed Sun, 19 Dec 2021 06:30:25 +0000 China remains on top of international investors’ agenda as they continue to pour billions of dollars into Chinese bonds and equities despite the pandemic and political tension between Washington and Beijing, according to the boss of Hong Kong’s bourse operator. This will further strengthen Hong Kong’s role as a connector between mainland China and the global markets, Nicolas Aguzin, chief executive of Hong Kong Exchanges and Clearing (HKEX), said on Wednesday. “We’re not seeing a decoupling at... https://www.scmp.com/business/china-business/article/3158916/international-investors-firmly-focused-chinas-market?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3158916/international-investors-firmly-focused-chinas-market?utm_source=rss_feed Wed, 08 Dec 2021 14:00:16 +0000 A new history book out on Monday tells the story of Hong Kong’s role in China’s economic reform and opening up since 1978, and how both have gained in the decades since, but the 1989 Tiananmen Square crackdown is a conspicuous absence in its chronology of related events. The city played a “vital, critical and decisive” role in China’s economic miracle, said one of the book’s chief editors, Professor Edward Chen Kwan-yiu. “It is possible that China would not have achieved its current status and... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3158587/new-book-hong-kong-chronicles-institute-records?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3158587/new-book-hong-kong-chronicles-institute-records?utm_source=rss_feed Mon, 06 Dec 2021 03:24:54 +0000 The regulatory storm sweeping across China’s economy has raised concerns about the scale of government intervention in local markets, while some analysts question whether the changes are enough to boost innovation and ensure “quality growth” amid an increasingly challenging external environment. In recent weeks, Beijing has unleashed a flurry of new regulations for internet-oriented tech companies, private education firms and overseas listings, disrupting global markets and triggering huge... https://www.scmp.com/economy/china-economy/article/3145764/chinas-economy-inflection-point-xi-jinping-embarks-sweeping?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3145764/chinas-economy-inflection-point-xi-jinping-embarks-sweeping?utm_source=rss_feed Sun, 22 Aug 2021 12:00:21 +0000 When the representatives of several after-school tutoring giants were called in for a meeting with China’s Ministry of Education in March, they were told that their teaching materials and content would be treated as publications – subject to advanced censorship. Those who attended the meeting said the representatives agreed to fully cooperate but explained that they could not simply change the handouts overnight. The proposal also would not be an easy task for education authorities, as it would... https://www.scmp.com/economy/china-economy/article/3143551/why-china-cracked-down-education-and-upended-us70-billion?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3143551/why-china-cracked-down-education-and-upended-us70-billion?utm_source=rss_feed Mon, 02 Aug 2021 22:00:16 +0000 Last year was a milestone for China as it become the world’s largest recipient of foreign direct investment for the first time. Foreign investment in China reached US$144.37 billion. Recent data speaks to China’s growing appeal for foreign investment. According to the Ministry of Commerce, the actual use of foreign investment nationwide from January to June this year was 607.84 billion yuan (US$94.1 billion), a 28.7 per cent year-on-year increase and 27.1 per cent over the same period in... https://www.scmp.com/comment/opinion/article/3143457/how-creating-better-business-environment-can-boost-foreign?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3143457/how-creating-better-business-environment-can-boost-foreign?utm_source=rss_feed Mon, 02 Aug 2021 08:28:27 +0000 Beijing has showcased the rapid development of Shenzhen, a hi-tech hub neighbouring Hong Kong, as a model for economic growth in China, but getting a precise handle on its demographic make up remains elusive. The city, which China plans to turn into a “core engine” of reform that will power growth and innovation in the Greater Bay Area, was praised by President Xi Jinping as a “trailblazer” in October and is home to some of the country’s most valuable tech companies. But analysts have long... https://www.scmp.com/economy/china-economy/article/3111332/shenzhens-population-size-key-gauging-economic-development?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3111332/shenzhens-population-size-key-gauging-economic-development?utm_source=rss_feed Thu, 26 Nov 2020 00:00:19 +0000 Vice-Premier Liu He, the top economic adviser to President Xi Jinping, has reiterated that China’s new focus on its domestic market and technological independence does not mean it is cutting links with the rest of the world. Beijing’s “dual circulation” strategy, which will concentrate on domestic demand for future growth and work to promote indigenous technology innovation, has fanned speculation China is trying to reduce its interaction with the outside world. Chinese leaders, including Xi,... https://www.scmp.com/economy/china-economy/article/3111333/chinas-liu-he-vows-beijing-will-not-give-economic-opening?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3111333/chinas-liu-he-vows-beijing-will-not-give-economic-opening?utm_source=rss_feed Wed, 25 Nov 2020 12:15:18 +0000 A series of defaults on bonds issued by Chinese state-backed companies has sent shock waves through the world’s second largest debt market in recent days, raising questions about local government guarantees and the credibility of domestic ratings. Since last week, China’s bond market has seen defaults by a mine operator, an integrated circuit maker and a car manufacturer. The non-payments have rocked investor confidence as the bonds were issued by state-controlled firms, which are usually seen... https://www.scmp.com/economy/china-economy/article/3110233/china-debt-defaults-stoke-unease-about-broader-market?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3110233/china-debt-defaults-stoke-unease-about-broader-market?utm_source=rss_feed Tue, 17 Nov 2020 10:30:13 +0000 China’s economy deepened its integration with the rest of the world in October, with foreign investment increasing amid strong spending in R&D and the tech sector, even as the Trump administration ramped up efforts to decouple the country from the United States. The pattern of investment mirrors ongoing changes in the world’s second biggest economy, notably a push by Beijing to accelerate innovation driven growth and gain technological independence in the face of pressure from... https://www.scmp.com/economy/china-economy/article/3110182/chinas-rd-tech-investment-inflows-show-deepening-global?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3110182/chinas-rd-tech-investment-inflows-show-deepening-global?utm_source=rss_feed Tue, 17 Nov 2020 09:00:28 +0000 They weren’t movers and shakers or big tycoons, but they shared the stage with President Xi Jinping on Wednesday to celebrate Shenzhen’s achievements over the past four decades. Chen Zhilie, who set up a computer company with four other researchers in the southern city 27 years ago, spoke of his experience. “What has come along with the Shenzhen special economic zone in the past 40 years is generations of entrepreneurs who dared to make their dreams come true through experimentation and... https://www.scmp.com/news/china/politics/article/3105567/personal-stories-shenzhen-miracle-drive-home-beijings-message?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3105567/personal-stories-shenzhen-miracle-drive-home-beijings-message?utm_source=rss_feed Wed, 14 Oct 2020 16:30:19 +0000 President Xi Jinping is pinning his hopes on Shenzhen to set an example for the rest of China by renewing Deng Xiaoping’s success of experimenting with the city and applying it elsewhere, which helped turn the country from an economic backwater to the world’s second largest economy. In an hour-long speech on Wednesday, China’s most powerful leader in decades said the country was facing new challenges and called on the city to make “greater contributions” to national prosperity – noting it had... https://www.scmp.com/economy/china-economy/article/3105537/chinas-xi-jinping-praises-shenzhen-economic-model-country?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3105537/chinas-xi-jinping-praises-shenzhen-economic-model-country?utm_source=rss_feed Wed, 14 Oct 2020 12:00:14 +0000 Chinese President Xi Jinping has charged the southern metropolis Shenzhen with taking China’s innovation and economic reforms to a higher level at a time when the world had entered a time of “turmoil and changes.” In a wide-ranging speech to mark the 40th anniversary of the establishment of the Shenzhen Special Economic Zone, Xi also called on the municipality to better integrate the two economies of Hong Kong and Macau into the Greater Bay Area and to attract young people from Hong Kong to... https://www.scmp.com/business/xi-jinping-wants-city-lead-china-out-trouble/article/3105532?utm_source=rss_feed https://www.scmp.com/business/xi-jinping-wants-city-lead-china-out-trouble/article/3105532?utm_source=rss_feed Wed, 14 Oct 2020 11:10:49 +0000