https://www.scmp.com/rss/330250/feed Cissy joined the Post in 2019. Prior to that, she has been a producer at BBC News and investigative reporter at CaiXin Media. She is interested in China's politics and economy. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com The booming and controversial solar industry in China’s far-west Xinjiang region has weathered many storms. Despite tariffs, rising production costs and human rights sanctions, it pumps out almost half of the world’s polysilicon, the shiny material that lets solar panels turn sunlight into electricity. The region has almost everything it needs to do the job as fast and as cheaply as possible, from mines to factories to labour – except for one crucial raw material that exists in just a handful of... https://www.scmp.com/news/china/article/3153656/rare-form-quartz-key-xinjiangs-solar-boom-and-almost-all-it-us?utm_source=rss_feed https://www.scmp.com/news/china/article/3153656/rare-form-quartz-key-xinjiangs-solar-boom-and-almost-all-it-us?utm_source=rss_feed Mon, 25 Oct 2021 19:00:41 +0000 Some factories and industries in China will benefit from the Biden administration’s upcoming “targeted tariff-exclusion process”, but US policy is still more focused on supporting American companies than it is on strengthening bilateral trade, according to analysts. In a speech on Monday outlining Washington’s vision for trade ties with China, US Trade Representative (USTR) Katherine Tai also said that the Biden administration will “keep open the potential for additional exclusion processes”, as... https://www.scmp.com/economy/china-economy/article/3151257/us-china-trade-who-will-targeted-tariff-exclusion-process?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3151257/us-china-trade-who-will-targeted-tariff-exclusion-process?utm_source=rss_feed Tue, 05 Oct 2021 16:00:24 +0000 This is the first in a series of stories looking at China’s Xinjiang province and how the far-western region is coping economically under a series of US sanctions over alleged human rights violations and the widespread use of forced labour. Nine months ago, when the United States banned cotton and tomato products from Xinjiang over alleged human rights violations and the widespread use of forced labour in the region, cotton farmers in particular in the far-west region feared the worst. But with... https://www.scmp.com/economy/china-economy/article/3150751/how-xinjiangs-economy-holding-amid-us-sanctions-and-can-china?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3150751/how-xinjiangs-economy-holding-amid-us-sanctions-and-can-china?utm_source=rss_feed Fri, 01 Oct 2021 03:00:07 +0000 With China’s coal-fired power stations reeling from record coal prices that make electricity generation unprofitable – resulting in blackouts across the country and mounting social concerns about adequate heating this winter – Beijing vowed on Wednesday to import more coal and let electricity rates reflect supply and demand. But although authorities did not confirm whether they will lift the cap on state-controlled prices, that is exactly what analysts are saying needs to be done. It is an... https://www.scmp.com/economy/china-economy/article/3150634/chinas-power-crisis-beijing-vows-increase-coal-imports-and?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3150634/chinas-power-crisis-beijing-vows-increase-coal-imports-and?utm_source=rss_feed Wed, 29 Sep 2021 22:00:14 +0000 In past years, when the calendar turned to September, China’s power-generation groups set out to replenish their coal inventories ahead of the cold winter months. This year, coal is so scarce that they are struggling to merely keep the lights on. And some are failing even at that. As of September 21, the total stockpile of thermal coal – used to generate electricity – held by the nation’s six major power-generation groups stood at just 11.31 million tonnes – which is capable of meeting demand... https://www.scmp.com/economy/china-economy/article/3150457/china-power-crisis-thermal-coal-inventory-nears-record-low?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3150457/china-power-crisis-thermal-coal-inventory-nears-record-low?utm_source=rss_feed Tue, 28 Sep 2021 16:00:16 +0000 Non-negotiable carbon reduction targets have forced many local provincial governments in China to impose rushed measures such as widespread power cuts, although an urgent shortage of coal has also emerged as a likely reason for the power supply crunch that is sweeping the nation. China’s power supply crisis ratcheted up a notch over the past week with more than half of the country enduring power cuts, making it one of the most extreme examples of energy rationing in the nation’s history,... https://www.scmp.com/economy/china-economy/article/3150313/what-has-caused-chinas-electricity-shortages-and-beijings?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3150313/what-has-caused-chinas-electricity-shortages-and-beijings?utm_source=rss_feed Tue, 28 Sep 2021 01:00:26 +0000 Australia said it would not be willing to negotiate China’s application to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) unless Beijing removes retaliatory tariffs on Australian goods, as other member countries also flagged caution over Beijing’s application to join the mega trade bloc. Beijing’s new trade minister Wang Wentao on Thursday lodged a long-awaited application to join the 11-member CPTPP with member country New Zealand’s trade minister Damien... https://www.scmp.com/economy/china-economy/article/3149204/china-must-prove-track-record-compliance-free-open-trade-if?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3149204/china-must-prove-track-record-compliance-free-open-trade-if?utm_source=rss_feed Sat, 18 Sep 2021 04:15:21 +0000 If the decoupling between the world’s two largest economies were to continue gradually – with supply chains rearranged rather than completely severed – the consequences would be much more disruptive to the China bloc than to the United States bloc, according to a new report by Capital Economics. This is largely because most of the global economy rests in the US bloc. Based on bilateral relationships involving all 217 global economies recognised by the World Bank, plus Taiwan, a total of 114 are... https://www.scmp.com/economy/china-economy/article/3149027/us-china-decoupling-if-it-comes-down-us-bloc-vs-china-bloc?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3149027/us-china-decoupling-if-it-comes-down-us-bloc-vs-china-bloc?utm_source=rss_feed Thu, 16 Sep 2021 13:15:22 +0000 The Chinese Ministry of Education issued a decree on Wednesday that said it would close loopholes used by some companies to circumvent the recent crackdown on the private tutoring industry. The edicts were posted on the ministry’s website and said the government would “clean up unlicensed organisations or individuals who are providing after-school tutoring by calling their services ‘consulting’, ‘home economics’, ‘live-in teachers’ or ‘crowdfunded private tutors’”. The announcement also said... https://www.scmp.com/news/people-culture/social-welfare/article/3148151/chinese-government-crack-down-underground?utm_source=rss_feed https://www.scmp.com/news/people-culture/social-welfare/article/3148151/chinese-government-crack-down-underground?utm_source=rss_feed Thu, 09 Sep 2021 09:42:59 +0000 Japanese electronic giant Toshiba has confirmed it will cease production at its Dalian facility by the end of September, and the liquidation process will begin next month, ending its 30-year presence as an economic force in the city. Established as a manufacturing base focusing on industrial motors and broadcast transmitters, Toshiba Dalian was brought to Liaoning province’s second-largest city in 1991 by then deputy mayor Bo Xilai, an infamous politician now serving life in prison for... https://www.scmp.com/economy/china-economy/article/3148036/japans-toshiba-closing-chinese-facility-once-considered-pearl?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3148036/japans-toshiba-closing-chinese-facility-once-considered-pearl?utm_source=rss_feed Wed, 08 Sep 2021 12:30:12 +0000 China’s coal supply looks to remain tight and prices will stay elevated in the next six months as the country’s own production – coupled with curtailed imports such as those from Australia – will be unable to meet China’s rising demand for the raw material, according to analysts. And that demand is raising questions about how long China can afford to continue banning coal from Australia. Even as China’s steel production has cooled down in the past two months, the price of coking coal – which is... https://www.scmp.com/economy/china-economy/article/3147774/china-australia-relations-demand-coal-surges-how-long-can?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3147774/china-australia-relations-demand-coal-surges-how-long-can?utm_source=rss_feed Mon, 06 Sep 2021 20:30:17 +0000 When Chinese student Ding Xueliang was studying in the US city of Boston in the late 1980s, one of the biggest lessons he learned occurred outside the classroom. Ding crossed paths with a number of other Chinese students who had arrived in the United States fresh from taking part in protests that had gripped several cities in eastern China, including Shanghai, for a month from December 1986. The demonstrators took to the streets in frustration at corruption, eventually expanding their demands to... https://www.scmp.com/economy/china-economy/article/3145940/chinas-coming-era-common-prosperity-and-what-it-means-rich?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3145940/chinas-coming-era-common-prosperity-and-what-it-means-rich?utm_source=rss_feed Sun, 22 Aug 2021 22:00:23 +0000 The White House’s excessive politicisation of policies on China will limit the ability of the next US ambassador to improve relations between the two countries, according to Chinese analysts. US President Joe Biden said on Friday that he would nominate career diplomat Nicholas Burns as the United States’ next envoy to China. Now a professor at the Harvard Kennedy School, Burns worked at the State Department for more than three decades, serving as the US ambassador to Nato from 2001 to 2005 under... https://www.scmp.com/news/china/diplomacy/article/3145904/china-us-ties-not-much-room-move-next-american-ambassador?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3145904/china-us-ties-not-much-room-move-next-american-ambassador?utm_source=rss_feed Sat, 21 Aug 2021 15:00:08 +0000 The Communist Party boss of a major city in eastern China is under investigation for alleged “serious violations of discipline and law”, the party’s anti-corruption watchdog said on Saturday night. The Central Commission for Discipline Inspection did not say why Hangzhou party secretary Zhou Jiangyong was under investigation. Zhou is the most senior official in Zhejiang to be investigated in recent years. The announcement came just a day after Zhou, 54, chaired a meeting on coal consumption and... https://www.scmp.com/news/china/politics/article/3145905/chinas-anticorruption-watchdog-investigates-hangzhou-communist?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3145905/chinas-anticorruption-watchdog-investigates-hangzhou-communist?utm_source=rss_feed Sat, 21 Aug 2021 14:43:09 +0000 Mainland China’s success in combating the coronavirus pandemic increases the likelihood that free public health care, similar to Hong Kong, will be provided for the nation’s 1.4 billion-strong population, says a leading expert on the country’s medical care reform. “China’s success in containing transmission of the virus last year was largely due to the up-to-the-minute free testing and treatment, the result was very good with an affordable price,” said Li Ling, a professor at the National School... https://www.scmp.com/economy/china-economy/article/3144957/chinas-coronavirus-success-could-see-hong-kong-style?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3144957/chinas-coronavirus-success-could-see-hong-kong-style?utm_source=rss_feed Sat, 14 Aug 2021 04:00:07 +0000 With China intent on sticking to a zero-tolerance Covid-19 elimination strategy, debate is swirling over the long-term economic impact of sealing the country off from the outside world and imposing severe domestic restrictions. China believes its handling of the pandemic has been superior to Western democracies and the ruling Communist Party sees it as a major political achievement. But some leading epidemiologists and economists have suggested the country may need to prepare to “live with the... https://www.scmp.com/economy/china-economy/article/3144790/chinas-zero-covid-19-approach-sparks-debate-about-long-term?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3144790/chinas-zero-covid-19-approach-sparks-debate-about-long-term?utm_source=rss_feed Thu, 12 Aug 2021 22:00:18 +0000 Although Chinese regulators say they are determined to rein in the nation’s education sector, it remains to be seen how extensively local governments will implement new restrictive policies. And then there’s the fact that similar, but more vague, administrative regulations – passed nearly a quarter-century ago – have been basically ignored and never strictly enforced. Last month’s crackdown on private test-prep firms also raised a litany of concerns and unanswerable questions among schools and... https://www.scmp.com/economy/china-economy/article/3143974/chinas-education-crackdown-only-scratched-surface-whats-come?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3143974/chinas-education-crackdown-only-scratched-surface-whats-come?utm_source=rss_feed Fri, 06 Aug 2021 04:00:12 +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 Deadly floods in the central Chinese province of Henan will have an inevitable impact on the supply of non-ferrous metals, with lead and aluminium the most severely hit, according to analysts. The flooding, which has been described by local authorities as a “one in one thousand year event”, has killed at least 73 people and affected more than 13 million residents, or 13 per cent of the province’s total population. The disaster has also tangled supply chains for key materials and products. The... https://www.scmp.com/economy/china-economy/article/3142889/chinese-floods-snarl-supply-chains-lead-and-aluminium-amid?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3142889/chinese-floods-snarl-supply-chains-lead-and-aluminium-amid?utm_source=rss_feed Wed, 28 Jul 2021 12:15:10 +0000 China has reaffirmed its support for small and medium-sized enterprises (SMEs), the country’s biggest employers, but some entrepreneurs have turned their noses up at the gesture, saying Beijing’s recent regulatory crackdowns have added pressure on them. On Tuesday, Chinese Vice-Premier Liu He told an SME forum in Changsha, the capital of central Hunan province, that the government would create a sound business environment to nurture growth among smaller firms, and urged business owners to be... https://www.scmp.com/economy/china-economy/article/3142847/china-pledges-support-small-business-some-smes-see-doom-and?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3142847/china-pledges-support-small-business-some-smes-see-doom-and?utm_source=rss_feed Wed, 28 Jul 2021 07:32:33 +0000 For Chinese director Zhang Yimou and well-known actor Ni Dahong, track suits were the attire of choice for a red carpet premiere in late April, although as this came just a month after a nationwide boycott of H&M, Adidas and Nike, the decision behind the wardrobe selection was viewed as more than just a fashion statement. With fellow cast members from the sky thriller Cliff Walkers choosing for more traditional suits, blazers and ties, Zhang opted for an Anta track suit with the Chinese flag... https://www.scmp.com/economy/china-economy/article/3142815/chinas-domestic-brands-boom-fuelled-nationalism-li-ning-anta?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3142815/chinas-domestic-brands-boom-fuelled-nationalism-li-ning-anta?utm_source=rss_feed Wed, 28 Jul 2021 05:30:18 +0000 Even at 24 years old, Jack Yang is wary about entering his 30s while working in China’s cutthroat tech sector. Yang, who would only use his English first name due to the sensitivity of the topic, said his department recently laid off an employee above 35 on the grounds of poor performance. But everyone in the office knew better. “When you reach 35 years old, if you are not promoted, you will have to leave,” said the young programmer who is interning for one of China’s biggest e-commerce... https://www.scmp.com/economy/china-economy/article/3142226/chinas-looming-population-crisis-throws-spotlight-workplace?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3142226/chinas-looming-population-crisis-throws-spotlight-workplace?utm_source=rss_feed Sat, 24 Jul 2021 06:00:12 +0000 Emergency workers in the central Chinese city of Zhengzhou said they expected to pump out a flooded road tunnel, where many cars were reportedly trapped, by Saturday night. The authorities have not released an official death toll from the tunnel, but news portal ThePaper.cn quoted an unnamed official in charge of rescue operations as saying that his team had checked all of the cars at the site, and found four dead. The rescuers were continuing to pump water out of the tunnel but no other victims... https://www.scmp.com/news/china/politics/article/3142360/china-floods-more-75-million-people-henan-now-affected?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3142360/china-floods-more-75-million-people-henan-now-affected?utm_source=rss_feed Sat, 24 Jul 2021 03:22:15 +0000 Chinese manufacturers in Vietnam are struggling amid the country’s worst coronavirus outbreak so far, with one business in the hard-hit south “losing tens of thousands of US dollars” a day. Fuelled by the fast-spreading Delta variant, cases have surged in the Southeast Asian nation in recent months, hitting another record high of 6,194 new infections on Thursday. Authorities in Ho Chi Minh City, the country’s financial and economic hub, and neighbouring industrial provinces like Dong Nai and... https://www.scmp.com/economy/china-economy/article/3142287/chinese-manufactures-forced-halt-production-vietnam?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3142287/chinese-manufactures-forced-halt-production-vietnam?utm_source=rss_feed Fri, 23 Jul 2021 13:00:21 +0000 The Chinese city of Zhengzhou started the slow process of recovery on Wednesday after devastating floods that killed at least 25 people and displaced around 1.24 million. The heavy rains, which started late last week, caused havoc across Henan province and almost paralysed Zhengzhou, the provincial capital, cutting off electricity and water supplies on Tuesday. The worst-affected area in the city of around 12.5 million was between Haitansi and Shakoulu stations on Line 5 of the subway, where at... https://www.scmp.com/news/china/politics/article/3141889/13-dead-100000-displaced-flooding-rains-hit-central-china?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3141889/13-dead-100000-displaced-flooding-rains-hit-central-china?utm_source=rss_feed Wed, 21 Jul 2021 01:52:41 +0000 The resumption of formal high level economic talks between China and the United States seems “infinitely far away”, according to Chinese experts, following reports the Biden administration has no plans to resurrect the regular communication channel that ground to a halt under former president Donald Trump. The US-China Strategic and Economic Dialogue (S&ED) mechanism was created in 2009 by the Obama administration as an upgrade to the Strategic Economic Dialogue that was initiated by the... https://www.scmp.com/economy/china-economy/article/3141700/us-china-economic-talks-infinitely-far-away-emphasis?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3141700/us-china-economic-talks-infinitely-far-away-emphasis?utm_source=rss_feed Mon, 19 Jul 2021 14:00:12 +0000 American businesses in China have expressed confusion and concern about a new advisory from the Biden administration on their Xinjiang supply chains, saying compliance will require a significant amount of time and effort. The immediate reaction underscores how difficult – and costly – it will be for US companies to fully extricate themselves from production lines that contain Xinjiang-made products, while potentially acting as a deterrent for American companies to establish operations in the... https://www.scmp.com/economy/china-economy/article/3141219/us-firms-china-confused-new-biden-warning-xinjiang-supply?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3141219/us-firms-china-confused-new-biden-warning-xinjiang-supply?utm_source=rss_feed Thu, 15 Jul 2021 15:00:23 +0000 China is prepared for more sanctions after the US added 23 Chinese entities to its export blacklist last week, but Beijing will be cautious in responding given its reluctance to encourage full-scale technology decoupling, Chinese experts and government advisers say. The Biden administration’s latest action follows the addition of a handful of Chinese polysilicon producers to its “entity list” last month as part of efforts to hold China accountable for alleged human rights abuses in Xinjiang... https://www.scmp.com/economy/global-economy/article/3140815/us-sanctions-china-will-continue-beijing-unlikely-escalate?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3140815/us-sanctions-china-will-continue-beijing-unlikely-escalate?utm_source=rss_feed Mon, 12 Jul 2021 14:30:17 +0000 China’s government regulators suspect the initial public offering by Didi Chuxing in New York on June 30 was a deliberate act of deceit, a characterisation that underscores the severity of the fundraising exercise and the potential storm to come, according to four sources familiar with the matter. The Beijing-based ride-hailing service raised US$4.4 billion in a stock sale in the United States even as its core business is in China – where it dominates 90 per cent of the market. Some officials... https://www.scmp.com/tech/policy/article/3140471/chinas-regulators-suspect-didis-us-listing-was-deliberate-act-deceit?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3140471/chinas-regulators-suspect-didis-us-listing-was-deliberate-act-deceit?utm_source=rss_feed Fri, 09 Jul 2021 10:00:16 +0000 Three years after the US and China began a tit-for-tat trade war, the tariffs imposed by the Trump administration remain in place on most Chinese goods, and bilateral tensions have extended beyond trade to encompass a range of geopolitical and human rights issues under US President Joe Biden. Since the signing of the phase one deal in January last year, Beijing has repeatedly urged the US to roll back its punitive tariffs on Chinese products and called on the American business community to help... https://www.scmp.com/economy/china-economy/article/3140047/us-china-trade-war-hits-third-anniversary-no-sign-biden?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3140047/us-china-trade-war-hits-third-anniversary-no-sign-biden?utm_source=rss_feed Tue, 06 Jul 2021 14:15:15 +0000 China’s economic growth is expected to decelerate in the second half of the year due to softer export demand, property tightening measures, higher commodity prices and Beijing’s carbon neutral campaign, economists said. Economists from Nomura believe China’s economy will grow by 8.9 per cent this year, up from the 2.3 per cent growth seen during a coronavirus-hit 2020. Standard Chartered economists forecast the country’s growth will reach 8 per cent this year due to a fading base effect,... https://www.scmp.com/economy/china-economy/article/3140006/chinas-economic-growth-cool-end-year-weighed-down-slowing?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3140006/chinas-economic-growth-cool-end-year-weighed-down-slowing?utm_source=rss_feed Tue, 06 Jul 2021 09:30:08 +0000 The death of renowned economic reformer Gao Shangquan, who was also instrumental in Hong Kong’s handover from Britain to China, is a major loss to the pro-market camp within the Communist Party, a faction whose influence has been waning in recent years, experts said. Gao, the former president of China Society of Economic Reform and one of the minds behind the country’s reform and opening up from the late 1970s onwards, died on Sunday in Beijing, aged 92. One of China’s earliest advocates for a... https://www.scmp.com/economy/china-economy/article/3139198/chinese-economist-gao-shangquans-death-blow-pro-market-voice?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3139198/chinese-economist-gao-shangquans-death-blow-pro-market-voice?utm_source=rss_feed Tue, 29 Jun 2021 10:55:45 +0000 Hawkish British politicians and an American industrial lobby group have called on Western allies to form a “Nato for trade” to counter China’s “weaponisation of policy tools to punish any nation that does not kowtow to Beijing”. The proposal is for democratic nations to create a trade-based alliance along the lines of the North Atlantic military grouping formed to counter the Soviet Union in 1949. Under Nato rules, members agree to defend any one of them that comes under attack. Similarly,... https://www.scmp.com/news/china/diplomacy/article/3138948/british-us-china-hawks-call-nato-trade-against-beijing?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3138948/british-us-china-hawks-call-nato-trade-against-beijing?utm_source=rss_feed Sun, 27 Jun 2021 23:00:19 +0000 An almost complete skull found in northeastern China promises to shed light on human evolution for many years to come even as researchers debate whether the find represents an entirely new species, according to scientists involved in the study. In a series of scientific papers, a group of scientists from China and Britain said the skull – found by a farmer in Harbin, Heilongjiang province, in the 1930s and buried in a well for the next 85 years – did not belong to any existing branch of the... https://www.scmp.com/news/china/science/article/3138883/chinas-dragon-man-new-branch-human-family-tree?utm_source=rss_feed https://www.scmp.com/news/china/science/article/3138883/chinas-dragon-man-new-branch-human-family-tree?utm_source=rss_feed Sat, 26 Jun 2021 15:02:09 +0000 China’s central government has expressed strong support for Hong Kong joining the Regional Comprehensive Economic Partnership (RCEP), after its financial secretary said the city intended to become a member of the 15-nation trade bloc in what could be a boost to its flagging logistics sector. The China-backed RCEP was signed in November and includes the 10 members of the Association of Southeast Asian Nations (Asean) plus China, Japan, South Korea, Australia and New Zealand. By eliminating... https://www.scmp.com/economy/china-economy/article/3138789/china-backs-hong-kong-join-rcep-trade-deal-potential-boost?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3138789/china-backs-hong-kong-join-rcep-trade-deal-potential-boost?utm_source=rss_feed Fri, 25 Jun 2021 10:59:08 +0000 Earlier this month, after US President Joe Biden expanded a Trump-era ban on investments in companies linked to China’s state security apparatus, the White House declared that it would “not hesitate” to block US capital from flowing to certain parts of China’s economy if they threaten human rights and US national security. The 59 blacklisted corporations include Chinese oil companies, aerospace firms and telecommunications giants, part of a broader crackdown in Washington that increasingly sees... https://www.scmp.com/news/china/article/3138668/exclusive-windfall-xinjiang-huge-us-mutual-funds-invest-millions-its?utm_source=rss_feed https://www.scmp.com/news/china/article/3138668/exclusive-windfall-xinjiang-huge-us-mutual-funds-invest-millions-its?utm_source=rss_feed Thu, 24 Jun 2021 17:59:35 +0000 The US ban on imports and restricted exports involving five Chinese companies will not have an outsized impact on them, because producers can simply change the production origin by shifting orders elsewhere in the country, according to a Chinese analyst. The Biden administration confirmed on Thursday that it has banned US imports of metallurgical-grade silicon, as well as products made from it, from Hoshine Silicon Industry, over forced-labour allegations in China’s far-west Xinjiang Uygur... https://www.scmp.com/economy/china-economy/article/3138639/xinjiang-firms-blacklisted-us-seen-shifting-orders-within?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3138639/xinjiang-firms-blacklisted-us-seen-shifting-orders-within?utm_source=rss_feed Thu, 24 Jun 2021 12:46:54 +0000 The coronavirus outbreak in Guangdong province has placed “huge” psychological pressure on small and medium-sized enterprises across China’s manufacturing hub, and some fear they might lose orders to other factories across the country. This comes as parts of the province, which accounts for about 10 per cent of China’s economic output, have recently been ravaged by a confluence of setbacks – surging commodity prices and shipping fees; an electricity shortage; and troublesome lockdowns associated... https://www.scmp.com/economy/china-economy/article/3138473/coronavirus-impact-chinas-exports-may-have-been?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3138473/coronavirus-impact-chinas-exports-may-have-been?utm_source=rss_feed Wed, 23 Jun 2021 10:30:58 +0000 This is the seventh in a series about China’s plans to reopen its borders amid the Covid-19 pandemic. Here, Josephine Ma, Cissy Zhou and Jevans Nyabiage look into how China’s trade and diplomacy have been affected by the lack of face-to-face interactions. Like many countries, virtual meetings have been vitally important for China – the world’s second-largest economy – to keep trade and diplomacy alive after it closed its borders in March last year. But videoconferencing does not always cut it,... https://www.scmp.com/news/china/diplomacy/article/3138279/coronavirus-how-chinas-closed-borders-have-hit-trade-and?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3138279/coronavirus-how-chinas-closed-borders-have-hit-trade-and?utm_source=rss_feed Wed, 23 Jun 2021 03:00:00 +0000 Booming commodity markets are fuelling debate in China about the potential impact of a commodities supercycle, which could saddle producers with high costs for years and pose a major threat to the country’s economic recovery from the coronavirus pandemic. Commodities fell slightly last week from recent record highs after the US dollar strengthened and Chinese authorities took steps to intervene in the market, but raw material prices are expected to remain buoyant until at least the end of the... https://www.scmp.com/economy/china-economy/article/3138322/commodities-supercycle-looming-and-what-risks-does-it-pose?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3138322/commodities-supercycle-looming-and-what-risks-does-it-pose?utm_source=rss_feed Tue, 22 Jun 2021 11:30:00 +0000 The prevalence of infertility in China has increased at a faster-than-expected rate in the past decade, dealing yet another blow to a nation that is finding it harder and harder to get people to have children, according to a leading reproductive specialist. The world’s second-largest economy saw its infertility rate rise from 12 per cent in 2007 to 18 per cent in 2020, meaning that one out of every 5.6 couples of childbearing age faces difficulties making a baby, according to the latest national... https://www.scmp.com/economy/china-economy/article/3137724/china-population-infertility-rate-rising-faster-expected-new?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3137724/china-population-infertility-rate-rising-faster-expected-new?utm_source=rss_feed Thu, 17 Jun 2021 12:30:41 +0000 China’s efforts to carve out global market share for its narrow body C919 passenger plane face a fresh hurdle after the United States and the European Union (EU) agreed to a truce in their near 17-year conflict over aircraft subsidies, analysts say. The US and EU announced on Tuesday a five-year suspension of tariffs and plan to establish a working group to address “non-market practices” in other countries, most notably China.  China has spent tens of billions of dollars to develop the C919 jet,... https://www.scmp.com/economy/china-economy/article/3137549/chinas-c919-faces-new-hurdle-after-us-europe-aviation-deal?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3137549/chinas-c919-faces-new-hurdle-after-us-europe-aviation-deal?utm_source=rss_feed Wed, 16 Jun 2021 14:00:00 +0000 This is the second in a series about China’s plans to reopen its borders to the world amid the Covid-19 pandemic. China’s practice of quickly clamping down on even the smallest coronavirus outbreaks – by imposing aggressive restrictions on movement and mandating widespread testing – has for the most part kept the pandemic at bay since the initial lockdowns in January 2020. But this unorthodox approach, including effectively closing the nation’s border to visitors, is having a knock-on effect of... https://www.scmp.com/economy/china-economy/article/3137181/chinas-closed-borders-real-problem-foreign-business?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3137181/chinas-closed-borders-real-problem-foreign-business?utm_source=rss_feed Tue, 15 Jun 2021 02:00:00 +0000 US efforts to combat unfair trade practices with a new strike force and provide government support for American businesses highlight the Biden administration’s “more aggressive” stance towards China, as well as its willingness to implement “industrial policy” to maintain international dominance, analysts say. The White House announced on Tuesday that the Biden administration will establish a trade strike force, led by the US Trade Representative Katherine Tai, to halt the “hollowing out” of... https://www.scmp.com/economy/global-economy/article/3136617/us-china-relations-bidens-trade-strike-force-sees-us-turn?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3136617/us-china-relations-bidens-trade-strike-force-sees-us-turn?utm_source=rss_feed Wed, 09 Jun 2021 07:21:22 +0000 Manufacturers in Guangdong are expecting export orders to slow in the second half of the year, due in part to skyrocketing cargo costs as well as shipping delays caused by the recent coronavirus outbreaks in southern China. Severe congestion at Shenzhen’s Yantian port is spreading to Nansha port in Guangzhou following the discovery of several asymptomatic cases linked to international freight shipping operations late last month. Yantian and Nansha are among world’s busiest container ports, with... https://www.scmp.com/economy/china-economy/article/3136088/chinas-manufacturers-braced-drop-orders-coronavirus-outbreak?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3136088/chinas-manufacturers-braced-drop-orders-coronavirus-outbreak?utm_source=rss_feed Sat, 05 Jun 2021 02:15:06 +0000 When Beijing announced early this week it would allow couples to have up to three children each, even seasoned Chinese demographers were caught off guard. “I was surprised,” said Yang Chenggang, vice-president of the China Population Association, which is affiliated with the National Health Commission (NHC). “None of the demographers were expecting a policy like that, we never proposed that.” The policy overhaul came just weeks after the latest census revealed the number of births in China... https://www.scmp.com/economy/china-economy/article/3136061/china-population-why-did-beijing-opt-three-child-policy-when?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3136061/china-population-why-did-beijing-opt-three-child-policy-when?utm_source=rss_feed Fri, 04 Jun 2021 12:00:06 +0000 In more than 10 years in the logistics business, David Sun says he has never seen shipping fees climb as high or quickly as they have this year. “It’s unprecedented,” he said on the phone from Yiwu, a central Chinese city known as the world’s largest trading centre for small commodities. Ocean freight fees are three to five times higher than the same period last year. The cost of moving a 40-foot sea container from China to Dubai is normally less than US$1,000, but it now costs about... https://www.scmp.com/economy/china-economy/article/3135852/coronavirus-shipping-rates-stay-unprecedented-levels-until?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3135852/coronavirus-shipping-rates-stay-unprecedented-levels-until?utm_source=rss_feed Thu, 03 Jun 2021 08:00:20 +0000 Given Beijing’s stimulus measures to support the economy, Chinese credit risks appear to be on the decline, but there is still considerable exposure in China’s construction and energy sectors, according to a new survey. Although fewer companies experienced payment delays in 2020 compared with 2019, the proportion of firms in both the construction and energy sectors that reported payment delays longer than 180 days on invoices totalling more than 10 per cent of their annual turnover doubled to... https://www.scmp.com/economy/china-economy/article/3134794/chinas-credit-risks-are-down-most-sectors-payment-delays?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3134794/chinas-credit-risks-are-down-most-sectors-payment-delays?utm_source=rss_feed Wed, 26 May 2021 03:30:14 +0000 China’s central bank has no plans to alter its exchange rate mechanism, one of its deputy governors said on Sunday, dismissing speculation that the yuan might be allowed to move more freely against other currencies. The existing “managed floating exchange rate” system was “an institutional arrangement fit for China at present and in the foreseeable future”, Liu Guoqiang said in a brief statement published on the People’s Bank of China’s (PBOC) website. His comments came after Zhou Chengjun, the... https://www.scmp.com/economy/china-economy/article/3134546/chinas-central-bank-says-it-has-no-plans-ease-exchange-rate?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3134546/chinas-central-bank-says-it-has-no-plans-ease-exchange-rate?utm_source=rss_feed Sun, 23 May 2021 13:00:12 +0000 Five people died on Saturday when a man drove his car at high speed into a crowd of pedestrians in the city of Dalian in northeast China. A 32-year-old suspect, identified only as Liu, has been detained, police said. He is reported to have said that he was upset because of a failed investment and wanted to “take revenge on society”. The incident happened at 11.40am in a downtown area of the city. Footage caught on CCTV and mobile phones showed a black sedan car accelerating into a group of... https://www.scmp.com/news/china/article/3134558/five-killed-hit-and-run-driver-takes-revenge-failed-investment?utm_source=rss_feed https://www.scmp.com/news/china/article/3134558/five-killed-hit-and-run-driver-takes-revenge-failed-investment?utm_source=rss_feed Sun, 23 May 2021 11:10:15 +0000