https://www.scmp.com/rss/33705/feed Li Keqiang, born in 1955, became China's premier in March 2013. Like ex-president Hu Jintao, his power base lies with the Communist Youth League, where he was a member of the secretariat of the league’s central committee in the 1980s and later in the 1990s the secretariat’s first secretary. His regional governance experience includes a period as vice party boss, governor and party boss of Henan province between 1998 and 2003 and party boss of Liaoning province beginning in 2004. He became vice... en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com William Zheng William Zheng Tian Xuebin, a State Council veteran who worked under several former premiers, has been placed under investigation by the top anti-corruption agency of China’s ruling Communist Party. The Central Commission for Discipline Inspection (CCDI), China’s highest political disciplinary and anti-corruption agency, announced on Monday that Tian, 62, had been detained for “suspected serious violations of discipline and law”, a euphemism for corruption. He last served as vice-minister of water resources... https://www.scmp.com/news/china/politics/article/3338796/china-continues-chase-corrupt-tigers-state-council-veteran-put-under-probe?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3338796/china-continues-chase-corrupt-tigers-state-council-veteran-put-under-probe?utm_source=rss_feed Mon, 05 Jan 2026 11:04:41 +0000 Jane Cai Jane Cai A series of social media posts highlighting the economic insecurity facing ordinary Americans has triggered an intense debate in China about social problems in the United States and shattered some long-held perceptions. Many of the posts from influencers described the vulnerabilities as a “kill line”, a term used by Chinese video gamers to describe the health threshold below which a character can be instantly defeated. The term has now been repurposed to describe a financial and social tipping... https://www.scmp.com/news/china/politics/article/3338633/us-kill-line-shocks-chinese-social-media-economic-woes-shatter-illusions?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3338633/us-kill-line-shocks-chinese-social-media-economic-woes-shatter-illusions?utm_source=rss_feed Sun, 04 Jan 2026 12:00:11 +0000 SCMP SCMP This article was first published on October 29, 2015 by Cary Huang China puts an end to its one-child policy The main­land will abol­ish its dec­ades-old, con­tro­ver­sial one-child policy and allow all couples to have two chil­dren, Com­mun­ist Party lead­ers said on October 29, 2015 after they wrapped up a four-day annual poli­cy­mak­ing meeting. The fifth plenum of the party’s 18th Cent­ral Com­mit­tee also endorsed a new five-year eco­nomic plan, accord­ing to a communique released by... https://www.scmp.com/news/china/article/3330863/2015-china-announces-end-one-child-policy-scmp-archive?utm_source=rss_feed https://www.scmp.com/news/china/article/3330863/2015-china-announces-end-one-child-policy-scmp-archive?utm_source=rss_feed Thu, 30 Oct 2025 09:36:43 +0000 Phoebe Zhang Phoebe Zhang China’s Communist Party mouthpiece People’s Daily hailed the late former premier Li Keqiang for his steadfast dedication to the party and loyalty to its leadership, in an article published on Thursday to mark what would have been his 70th birthday. The article, attributed to the Institute of Party History and Literature, said Li had “dedicated all his energy to the cause of the party and the state, and made significant contributions to it”. Li was an “outstanding member of the party, time-tested... https://www.scmp.com/news/china/politics/article/3316796/chinas-communist-party-pays-tribute-late-premier-li-keqiang-70th-birth-anniversary?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3316796/chinas-communist-party-pays-tribute-late-premier-li-keqiang-70th-birth-anniversary?utm_source=rss_feed Thu, 03 Jul 2025 08:17:38 +0000 Anthony Rowley Anthony Rowley China has powered ahead of other nations in terms of industrial and export development, to the point where it is now seen by rivals (not least the US) as a threat that must be countered by trade protectionism. But most analyses of its success overlook the key role played by China’s financial system. The mirror image of that success is the failure by many Western economies to nurture savings collections and investment systems that are well attuned to promoting balanced economic growth. Fund... https://www.scmp.com/opinion/china-opinion/article/3313234/how-chinas-overlooked-financial-system-enabled-its-industrial-success?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3313234/how-chinas-overlooked-financial-system-enabled-its-industrial-success?utm_source=rss_feed Sat, 07 Jun 2025 08:30:08 +0000 China’s political elite and lawmakers will gather in March for the country’s annual legislative sessions which will set budgets and lay down Beijing’s plans for the country’s economy, diplomacy, trade and military. In the first part of the series, Vanessa Cai looks at the role of premier and how it has changed under Li Qiang. When Li Qiang was named China’s premier in March last year, the world’s second-biggest economy was just reopening its borders after three years of draconian Covid-19... https://www.scmp.com/news/china/politics/article/3253226/more-china-trips-less-diplomacy-what-does-li-qiangs-schedule-reveal-about-how-changing-role-premier?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3253226/more-china-trips-less-diplomacy-what-does-li-qiangs-schedule-reveal-about-how-changing-role-premier?utm_source=rss_feed Mon, 26 Feb 2024 22:00:26 +0000 Chinese Premier Li Qiang, meeting with Irish President Michael Higgins in Dublin on Wednesday, called for more mutually beneficial cooperation with Ireland as he continued to push for better relations with Europe. Li, the No 2 Chinese leader, offered to deepen cooperation in trade and investment, green development and technological innovations as well as educational and cultural exchanges. “Our two countries should jointly safeguard a free and open international trade system, maintain the... https://www.scmp.com/news/china/diplomacy/article/3248833/chinese-premier-li-qiang-meeting-irish-president-dublin-calls-increased-bilateral-relations?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3248833/chinese-premier-li-qiang-meeting-irish-president-dublin-calls-increased-bilateral-relations?utm_source=rss_feed Wed, 17 Jan 2024 17:03:03 +0000 Chinese President Xi Jinping led top Communist Party and state leaders to pay last tributes to former premier Li Keqiang as flags flew at half mast across the country, according to state news agency Xinhua. The ceremony for Li, who was 68, was held at the Babaoshan Revolutionary Cemetery in Beijing on Thursday morning, a week after his body was moved to the capital city following his sudden death from a heart attack in the early hours of last Friday morning in Shanghai. Li’s body was cremated on... https://www.scmp.com/news/china/politics/article/3240070/chinas-president-xi-jinping-pays-final-tribute-former-premier-li-keqiang-cremation-ceremony-set?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3240070/chinas-president-xi-jinping-pays-final-tribute-former-premier-li-keqiang-cremation-ceremony-set?utm_source=rss_feed Thu, 02 Nov 2023 07:14:53 +0000 Japan’s political and business worlds have expressed their sorrow at the sudden death on October 27 of former Chinese premier Li Keqiang, one of the few senior Communist Party leaders in the last decade that Tokyo perceived to be open to more constructive trade and political links. Li’s political star had waned in recent years before his exit from office in March, coinciding with Sino-Japanese relations deteriorating over issues ranging from territorial disputes, the arrest of Japanese... https://www.scmp.com/week-asia/politics/article/3239989/japan-laments-loss-ex-china-premier-li-keqiang-go-between-mend-frosty-ties?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3239989/japan-laments-loss-ex-china-premier-li-keqiang-go-between-mend-frosty-ties?utm_source=rss_feed Thu, 02 Nov 2023 04:00:18 +0000 Hong Kong mourned the death of former Chinese premier Li Keqiang by lowering flags to half mast at several sites on Thursday, ahead of a cremation ceremony to be held in the nation’s capital. The city and country flags were flying at half-mast at Tamar in Admiralty, Government House in Central, the Hong Kong International Airport and all border crossings. But an Education Bureau notice obtained by the Post indicates schools have been asked to fly both flags as usual. In a reply to the Post, the... https://www.scmp.com/news/hong-kong/politics/article/3239992/hong-kong-mourns-former-chinese-premier-li-keqiangs-death-flags-lowered-half-mast-ahead-cremation?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/3239992/hong-kong-mourns-former-chinese-premier-li-keqiangs-death-flags-lowered-half-mast-ahead-cremation?utm_source=rss_feed Thu, 02 Nov 2023 00:00:13 +0000 Feel strongly about these letters, or any other aspects of the news? Share your views by emailing us your Letter to the Editor at letters@scmp.com or filling in this Google form. Submissions should not exceed 400 words, and must include your full name and address, plus a phone number for verification. It is with great sadness that we mourn the passing of former premier Li Keqiang on October 27. His remarkable qualities of humility and pragmatism have left a lasting impact, particularly on... https://www.scmp.com/comment/letters/article/3239680/former-chinese-premier-li-keqiangs-legacy-four-areas-deserves-attention?utm_source=rss_feed https://www.scmp.com/comment/letters/article/3239680/former-chinese-premier-li-keqiangs-legacy-four-areas-deserves-attention?utm_source=rss_feed Tue, 31 Oct 2023 03:30:13 +0000 Flags across China, including in the special administrative regions of Hong Kong and Macau, will fly at half mast on Thursday, when the body of former premier Li Keqiang will be cremated, according to state media. The requirement for official flags to be flown at half mast applies to all government buildings, as well as to Chinese embassies overseas. The protocol for Li’s mourning puts him on a par with previous premier Li Peng who died in 2019. Li, Keqiang who retired as China’s premier earlier... https://www.scmp.com/news/china/politics/article/3239758/china-honour-late-premier-li-keqiang-who-will-be-cremated-thursday?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3239758/china-honour-late-premier-li-keqiang-who-will-be-cremated-thursday?utm_source=rss_feed Tue, 31 Oct 2023 02:21:53 +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 Some Chinese universities have told students not to organise private commemoration activities for former premier Li Keqiang, in an apparent bid to avoid social turmoil. Li – who was premier for a decade until he stepped down in March – died of a heart attack at the age of 68 in the early hours of Friday morning in Shanghai, according to official media. His sudden death has shocked the nation, with many paying tribute to him online after the news emerged. In downtown Hefei, capital of... https://www.scmp.com/news/china/politics/article/3239537/chinese-university-students-told-avoid-private-memorial-events-former-premier-li-keqiang?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3239537/chinese-university-students-told-avoid-private-memorial-events-former-premier-li-keqiang?utm_source=rss_feed Sat, 28 Oct 2023 11:33:14 +0000 The sudden, shocking death of former Chinese premier Li Keqiang has robbed the country of a genial, skilled technocrat, but his support for scientific research will continue to inspire generations. While best known for steering the world’s second-largest economy for a decade, Li had also been an advocate throughout for basic research and scientific development to support national growth. Li died early on Friday following a heart attack, seven months after stepping down from the political stage.... https://www.scmp.com/news/china/science/article/3239523/li-keqiang-former-premier-who-gave-scientific-research-rock-star-status-china?utm_source=rss_feed https://www.scmp.com/news/china/science/article/3239523/li-keqiang-former-premier-who-gave-scientific-research-rock-star-status-china?utm_source=rss_feed Sat, 28 Oct 2023 08:00:32 +0000 Hong Kong’s leader has offered his condolences over the death of former Chinese premier Li Keqiang, saying the late official’s comments about developing the city’s economy to address livelihood issues have always remained on his mind. Chief Executive John Lee Ka-chiu on Saturday also said his administration would closely follow any announcements made by Beijing regarding commemorations for Li, and then decide on the city’s next steps. “I express deep sorrow over the passing of former premier Li... https://www.scmp.com/news/hong-kong/politics/article/3239514/hong-kong-leader-john-lee-expresses-deep-sympathy-over-death-li-keqiang-recalls-former-premiers?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/3239514/hong-kong-leader-john-lee-expresses-deep-sympathy-over-death-li-keqiang-recalls-former-premiers?utm_source=rss_feed Sat, 28 Oct 2023 04:00:43 +0000 Chinese official media’s handling of the announcement of former premier Li Keqiang’s death seemed to indicate that the tragedy had come as a total surprise to Beijing, analysts said. State news agency Xinhua only managed to run a very brief official message on Friday morning, with a special note saying the official obituary would come later. Li had “passed away on Friday in Shanghai” following a “sudden heart attack” the previous night, “after all rescue measures failed”, the short announcement... https://www.scmp.com/news/china/politics/article/3239493/former-premier-li-keqiangs-sudden-death-total-surprise-chinas-top-leaders?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3239493/former-premier-li-keqiangs-sudden-death-total-surprise-chinas-top-leaders?utm_source=rss_feed Sat, 28 Oct 2023 00:00:17 +0000 Li Keqiang, who retired as China’s premier earlier this year, died of a heart attack at the age of 68 in Shanghai early on Friday morning. In an official obituary, state media hailed Li as “an outstanding leader of the party and the state” and described his death as a “huge loss” for China. It did not elaborate on the circumstances or exact cause of his death. The sudden passing of the soft-spoken leader, whom many called “the people’s premier”, shocked the nation. Within hours of the news... https://www.scmp.com/news/china/politics/article/3239502/li-keqiang-former-premier-had-fatal-heart-attack-during-swim-shanghai-sources-say?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3239502/li-keqiang-former-premier-had-fatal-heart-attack-during-swim-shanghai-sources-say?utm_source=rss_feed Fri, 27 Oct 2023 15:33:21 +0000 China is poorer for the loss of Li Keqiang, the former premier or No 2 to President Xi Jinping for 10 years, who has died after an apparent heart attack. The death at 68 of the man known as the “people’s premier” comes as a shock. It coincides with a critical juncture in the affairs of a nation that relied on his economic knowledge and calm counsel. Economic growth is at a crossroads. The ministers of defence and foreign affairs have been sacked without explanation just as the all important... https://www.scmp.com/comment/opinion/article/3239499/continuing-down-reformist-path-best-way-remember-li-keqiang?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3239499/continuing-down-reformist-path-best-way-remember-li-keqiang?utm_source=rss_feed Fri, 27 Oct 2023 15:06:42 +0000 At the annual gathering of the national legislature in March 2005, I went to cover the panel discussion of Liaoning province in the hope of meeting a potential political rising star, the province’s then Communist Party boss Li Keqiang. Back then, Li was halfway through his term in Liaoning and journalists were allowed to roam the Great Hall of the People during the sessions and doorstop senior officials. Some provincial officials were even willing to speak to journalists and Li was one of... https://www.scmp.com/news/china/politics/article/3239494/li-keqiang-decades-diligence-chinas-economic-front-lines?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3239494/li-keqiang-decades-diligence-chinas-economic-front-lines?utm_source=rss_feed Fri, 27 Oct 2023 14:18:02 +0000 Former premier Li Keqiang has been fondly remembered for his economic tactics, known as “Likonomics” that featured efforts on deleveraging, structural reform and restrained stimulus, at a time when China’s economy has yet to secure a solid post-pandemic recovery. Li died in Shanghai on Friday morning at the age of 68, with state broadcaster CCTV reporting that he suffered a heart attack a day earlier. Serving as premier from 2013-23, Li faced far more challenges than his predecessors, including... https://www.scmp.com/economy/china-economy/article/3239471/li-keqiang-chinas-charismatic-truth-telling-former-premier-mourned-deep-reforms-and-likonomics-hang?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3239471/li-keqiang-chinas-charismatic-truth-telling-former-premier-mourned-deep-reforms-and-likonomics-hang?utm_source=rss_feed Fri, 27 Oct 2023 10:59:48 +0000 Hong Kong politicians have paid tribute to former Chinese premier Li Keqiang following his death, describing him as an “amiable” leader who strongly backed the city to strengthen its economic integration with mainland China and its status as an international financial hub. Li, who was 68, died suddenly in Shanghai in the early hours of Friday morning following a heart attack the day before, according to state broadcaster CCTV. He last visited Hong Kong in an official capacity in 2011 when he was... https://www.scmp.com/news/hong-kong/politics/article/3239449/hong-kong-politicians-remember-amicable-ex-chinese-premier-li-keqiang-after-sudden-death-praising?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/3239449/hong-kong-politicians-remember-amicable-ex-chinese-premier-li-keqiang-after-sudden-death-praising?utm_source=rss_feed Fri, 27 Oct 2023 09:20:05 +0000 The Chinese public reacted with shock and grief at the sudden death of former premier Li Keqiang, while foreign diplomats, business leaders and China watchers around the world offered their condolences. Li was pronounced dead early on Friday shortly after midnight after suffering a heart attack. The news was broken by the state broadcaster CGTN. Further details about his death have not been made public. The former premier, who was born in Anhui province, was visiting Shanghai. At 68, Li was... https://www.scmp.com/news/china/politics/article/3239393/li-keqiang-chinese-and-foreign-admirers-share-condolences-grief-and-memories-warm-capable-former?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3239393/li-keqiang-chinese-and-foreign-admirers-share-condolences-grief-and-memories-warm-capable-former?utm_source=rss_feed Fri, 27 Oct 2023 05:55:48 +0000 This story has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. China’s former premier Li Keqiang, who died at the age of 68 on Friday, has been hailed as an “outstanding leader of party and state” by the Communist Party and was praised for his contributions to China’s economy and his support for President Xi Jinping. An official obituary published by state broadcaster CCTV on Friday night – almost 10 hours after the news... https://www.scmp.com/news/china/politics/article/3239355/li-keqiang-former-premier-china-dead?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3239355/li-keqiang-former-premier-china-dead?utm_source=rss_feed Fri, 27 Oct 2023 00:27:15 +0000 When his first press conference as premier was over on Monday morning, Li Qiang’s foreign policy footprint appeared even smaller than that of his predecessor Li Keqiang. During the 1½-hour highly choreographed gathering of domestic and international media after the close of the National People’s Congress’ annual session, Li Qiang answered just one question on diplomacy – a query about US-China relations from an Uzbek journalist. Li did not touch on challenging questions such as security or... https://www.scmp.com/news/china/politics/article/3213382/chinese-premier-li-qiang-stays-close-home-his-first-big-turn-national-stage?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3213382/chinese-premier-li-qiang-stays-close-home-his-first-big-turn-national-stage?utm_source=rss_feed Mon, 13 Mar 2023 13:00:15 +0000 Hong Kong’s chief executive will lead a high-level delegation to Beijing on Sunday for a week-long trip to discuss how the city can better integrate its economic development with the rest of the country’s as it more closely aligns itself with the nation’s goals. The eight officials joining Chief Executive John Lee Ka-chiu include ministers overseeing finance, education, innovation and technology, health and culture affairs, Lee’s office on Friday said. “Lee will visit various central ministries... https://www.scmp.com/news/hong-kong/article/3213042/hong-kongs-john-lee-travel-beijing-sunday-discuss-economic-integration-gearing-national-plans?utm_source=rss_feed https://www.scmp.com/news/hong-kong/article/3213042/hong-kongs-john-lee-travel-beijing-sunday-discuss-economic-integration-gearing-national-plans?utm_source=rss_feed Fri, 10 Mar 2023 04:16:23 +0000 Just two weeks after Linda Xiong started posting online about her street-vending experience, around 900 like-minded netizens joined the group chats she created on Xiaohongshu, China’s Instagram-like platform. Discussing ideal locations to set up street stalls, and popular goods among passers-by, some hoped to take on a side hustle after work, while others were looking to be full-time street vendors. “I really don’t want to go back to work in the office,” one said. “I just lost my job,” another... https://www.scmp.com/economy/china-economy/article/3212271/china-jobs-street-vending-returns-popular-and-sometimes-lucrative-side-hustle?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3212271/china-jobs-street-vending-returns-popular-and-sometimes-lucrative-side-hustle?utm_source=rss_feed Thu, 09 Mar 2023 03:00:11 +0000 After its somewhat perplexing slowdown in growth last month, consumer inflation in China is expected to edge up over the coming months, in line with the nation’s economic recovery following its zero-Covid exit, according to analysts who say weak demand and falling food prices cooled costs in February. The consumer price index (CPI) fell short of expectations and rose by just 1 per cent in February from a year earlier, down from 2.1 per cent growth in January, the National Bureau of Statistics... https://www.scmp.com/economy/economic-indicators/article/3212876/china-inflation-consumer-prices-eased-february-producer-prices-remained-deflation?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3212876/china-inflation-consumer-prices-eased-february-producer-prices-remained-deflation?utm_source=rss_feed Thu, 09 Mar 2023 01:37:17 +0000 China’s moderate economic growth target for 2023 sets the tone for more debt-control measures among local governments amid a growing chorus of concerns over default risks and uncertainties surrounding China’s economic recovery, according to analysts. Premier Li Keqiang’s final work report to the annual National People’s Congress (NPC) on Sunday highlighted the heightened risks from monetary debt at local levels of government across the country. And while calling for the curtailing of incremental... https://www.scmp.com/economy/china-economy/article/3212834/chinas-two-sessions-2023-how-debt-saddled-local-governments-underscore-beijings-moderate-gdp-target?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3212834/chinas-two-sessions-2023-how-debt-saddled-local-governments-underscore-beijings-moderate-gdp-target?utm_source=rss_feed Wed, 08 Mar 2023 17:00:23 +0000 Beijing’s representative in Hong Kong made an impression with the political class when he delivered his debut speech as head of the liaison office at the annual sessions of the country’s top legislature and political advisory body over the weekend. In his remarks delivered at a closed-door meeting attended by key mainland Chinese officials and Hong Kong politicians, Zheng Yanxiong, the director of the central government’s liaison office, proffered the usual warnings about national sovereignty.... https://www.scmp.com/news/hong-kong/politics/article/3212726/chinas-two-sessions-2023-why-did-beijings-top-man-hong-kong-laud-citys-strengths?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/3212726/chinas-two-sessions-2023-why-did-beijings-top-man-hong-kong-laud-citys-strengths?utm_source=rss_feed Wed, 08 Mar 2023 00:30:11 +0000 A pivotal reform plan for the State Council – China’s cabinet – and a new leadership line-up are expected to be officially unveiled later this week, as the country’s top legislative body holds its key annual session. The changes were part of President Xi Jinping’s efforts to strengthen the ruling Communist Party’s role in top-level decision making, and tighten its control over the crucial finance and technology sectors, observers said. State Council secretary general Xiao Jie will brief... https://www.scmp.com/news/china/politics/article/3212453/chinas-two-sessions-xi-jinping-seen-tighten-communist-party-grip-state-council-reform-choice-new?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3212453/chinas-two-sessions-xi-jinping-seen-tighten-communist-party-grip-state-council-reform-choice-new?utm_source=rss_feed Mon, 06 Mar 2023 22:00:12 +0000 After delivering his last government work report as Chinese premier on Sunday, Li Keqiang gave a customary bow to the audience in the Great Hall of the People and leaders on the rostrum. It was the opening of the annual parliament in Beijing and marked the end of Li’s two five-year terms – the maximum allowed under China’s constitution for premiership. Li, 67, who will retire at the end of this week, delivered his swan song flatly, revealing nothing of himself. He devoted most of his time at the... https://www.scmp.com/news/china/politics/article/3212490/what-ever-happened-likonomics-chinese-premier-li-keqiang-heads-exit?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3212490/what-ever-happened-likonomics-chinese-premier-li-keqiang-heads-exit?utm_source=rss_feed Mon, 06 Mar 2023 10:00:21 +0000 Foreign financial institutions such as Fidelity International and Neuberger Berman have accelerated the launch of mutual funds and wholly-owned units in mainland China to tap its 26 trillion yuan (US$3.7 trillion) mutual-fund market, as Beijing vowed to further open its services industry during its annual “two sessions” parliamentary meetings. Fidelity is set to launch its first mutual-fund product in China on April 3, becoming the third foreign asset manager to expand in China’s mutual-fund... https://www.scmp.com/business/banking-finance/article/3212491/fidelity-neuberger-berman-latest-foreign-entrants-chinas-us37-trillion-mutual-fund-market?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3212491/fidelity-neuberger-berman-latest-foreign-entrants-chinas-us37-trillion-mutual-fund-market?utm_source=rss_feed Mon, 06 Mar 2023 06:32:05 +0000 While acknowledging that external demand will be relatively weak this year, Beijing is sending strong signals that it intends to better integrate into global trade while steadfastly vowing to enhance China’s appeal to foreign investors. Leadership also still has its sights set on China joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a high-end trade and investment pact, in line with efforts to counter challenges resulting from external containment... https://www.scmp.com/economy/china-economy/article/3212438/chinas-two-sessions-2023-outgoing-premier-vows-even-greater-business-opportunities-foreign?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3212438/chinas-two-sessions-2023-outgoing-premier-vows-even-greater-business-opportunities-foreign?utm_source=rss_feed Mon, 06 Mar 2023 01:00:23 +0000 Beijing aims to balance economic growth with risk management this year as it shakes off three years of pandemic controls and mounting challenges at home and abroad. That was the message Premier Li Keqiang sent on Sunday when he delivered the annual government report to the National People’s Congress (NPC). “We are giving priority to ensuring stable growth, employment, and prices, to realise a steady economic recovery,” Li said, presenting his last report as premier and the first of Xi’s third... https://www.scmp.com/news/china/politics/article/3212442/chinas-two-sessions-2023-premier-li-keqiang-bows-out-appeal-economic-recovery?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3212442/chinas-two-sessions-2023-premier-li-keqiang-bows-out-appeal-economic-recovery?utm_source=rss_feed Sun, 05 Mar 2023 15:00:08 +0000 Chinese Premier Li Keqiang pledged Beijing would support Hong Kong’s economic growth and maintain its long-term prosperity as he highlighted the promotion of the Greater Bay Area as part of efforts to ensure the global financial centre was “set to thrive” while delivering his final work report on Sunday. The outgoing leader also underscored the need to uphold the constitutional order in Hong Kong and the principle of patriots administering local affairs, after noting Beijing had exercised... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3212444/hong-kong-set-thrive-chinese-premier-says-he-pledges-beijings-support-and-points-greater-bay-area?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3212444/hong-kong-set-thrive-chinese-premier-says-he-pledges-beijings-support-and-points-greater-bay-area?utm_source=rss_feed Sun, 05 Mar 2023 14:52:49 +0000 In gauging how China’s economy will fare this year, Beijing has set a relatively moderate growth target that will allow for more leeway to focus on resolving long-term challenges facing the world’s second-largest economy, according to analysts. They point to a number of stubborn issues facing China’s incoming economic leadership, including weak confidence in the private sector, curtailed household consumption, technological bottlenecks and the need to plan to counter long-term obstacles. The... https://www.scmp.com/economy/china-economy/article/3212426/china-2023-gdp-why-beijing-set-moderate-target-and-what-it-signifies-economic-growth?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3212426/china-2023-gdp-why-beijing-set-moderate-target-and-what-it-signifies-economic-growth?utm_source=rss_feed Sun, 05 Mar 2023 13:00:13 +0000 China will increase its defence budget to boost combat readiness while also striving to maintain friendly overseas ties, its top legislative assembly heard on Sunday. Funding for the People’s Liberation Army will increase by 7.2 per cent to about 1.55 trillion yuan (US$224.3 billion), after a 7.1 per cent hike last year, according to the government budget tabled at the opening session of the annual National People’s Congress. While the defence spending was in line with analysts’ expectations,... https://www.scmp.com/news/china/diplomacy/article/3212421/china-two-sessions-pla-budget-set-top-us224-billion-focus-peaceful-foreign-policy-remains?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3212421/china-two-sessions-pla-budget-set-top-us224-billion-focus-peaceful-foreign-policy-remains?utm_source=rss_feed Sun, 05 Mar 2023 10:35:09 +0000 Beijing will ramp up efforts to restore exchanges and economic ties with Taiwan, with Premier Li Keqiang taking a conciliatory tone on the island as he delivered the government work report on Sunday. Li reiterated that Beijing would take resolute steps to oppose “Taiwan independence” and promote “reunification” with the island. “As we Chinese on both sides of the Taiwan Strait are one family bound by blood, we should advance economic and cultural exchanges and cooperation … and improve the... https://www.scmp.com/news/china/politics/article/3212412/beijing-takes-conciliatory-tone-taiwan-call-advance-exchanges?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3212412/beijing-takes-conciliatory-tone-taiwan-call-advance-exchanges?utm_source=rss_feed Sun, 05 Mar 2023 06:51:47 +0000 Chinese Premier Li Keqiang has been making a farewell tour of government ministries, promoting the need for economic reform as he prepares to step down from a position he has held for a decade. Footage of Li visiting the State Council and government offices, including the Ministry of Finance, started appearing online last week. Many of the videos have been heavily censored on Chinese social media, with most of them circulating outside the “Great Firewall”. In some videos, the premier is seen... https://www.scmp.com/news/china/politics/article/3212356/chinese-premier-li-keqiang-renews-call-economic-reform-last-days-office?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3212356/chinese-premier-li-keqiang-renews-call-economic-reform-last-days-office?utm_source=rss_feed Sat, 04 Mar 2023 08:34:56 +0000 Chinese Premier Li Keqiang on Wednesday said China was willing to “constructively” participate in multilateral efforts to help debt-laden countries, state news agency Xinhua reported. In a phone call with International Monetary Fund (IMF) managing director Kristalina Georgieva, Li said addressing the debt problems of low-income countries required the participation of all creditors. China, the largest bilateral creditor to the world’s poorest states, has been in disputes with multilateral lenders... https://www.scmp.com/news/china/diplomacy/article/3212040/china-willing-join-multilateral-debt-relief-efforts-help-poor-nations-li-keqiang-tells-imf-head?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3212040/china-willing-join-multilateral-debt-relief-efforts-help-poor-nations-li-keqiang-tells-imf-head?utm_source=rss_feed Thu, 02 Mar 2023 04:59:00 +0000 This year’s “two sessions” – the annual meetings of the legislature and political advisory body – begin on Saturday and will complete a twice-a-decade leadership transition, with a reshuffle of top government jobs including the premier, and Xi Jinping set to secure a third term as president. In the third of a six-part series on what to expect from this key event, Frank Tang and Daniel Ren look at the rapid political rise of Li Qiang. With Li Qiang poised to take the premiership baton that will... https://www.scmp.com/economy/china-economy/article/3211953/chinas-two-sessions-2023-how-will-li-qiangs-pro-business-past-and-pragmatism-help-tackle-chinas?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3211953/chinas-two-sessions-2023-how-will-li-qiangs-pro-business-past-and-pragmatism-help-tackle-chinas?utm_source=rss_feed Wed, 01 Mar 2023 22:00:11 +0000 Li Yining, an eminent reform economist and mentor of Chinese Premier Li Keqiang, died at the age of 92 on Monday in Beijing, according to Peking University, where he was a long-time professor. As one of the first in China to introduce the concept of joint-stock company, and to reform state-owned enterprises, Li helped drive the country’s transformation from a planned economy to a market-oriented one. He also contributed to the establishment of China’s stock markets three decades ago, winning him... https://www.scmp.com/economy/china-economy/article/3211856/renowned-chinese-economist-li-yinings-death-comes-his-notions-reform-still-serve-valuable-lessons?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3211856/renowned-chinese-economist-li-yinings-death-comes-his-notions-reform-still-serve-valuable-lessons?utm_source=rss_feed Tue, 28 Feb 2023 12:30:14 +0000 A high-profile appearance by senior financial cadres and He Lifeng, the head of China’s top economic planner, has reinforced market beliefs that he is poised to succeed Vice-Premier Liu He and help oversee the world’s second-largest capital market. Expectations are rife that He Lifeng will be appointed vice-premier during Beijing’s annual parliamentary meetings in March. This has raised speculations about whether the move would usher in major policy changes, as he has not publicly commented on... https://www.scmp.com/economy/china-economy/article/3208749/chinas-next-economic-tsar-central-bank-visit-he-lifeng-ramps-public-profile?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3208749/chinas-next-economic-tsar-central-bank-visit-he-lifeng-ramps-public-profile?utm_source=rss_feed Wed, 01 Feb 2023 12:30:09 +0000 Not that long ago, when China’s economic growth defied gravity and the population headed towards 1.5 billion, 3 per cent annual growth coupled with population decline within a decade seemed incredible. The reality, amid a hardline Covid policy that held fourth-quarter growth to 2.9 per cent, is that last year’s figure, the second lowest in 46 years, is close to expectations. Three per cent is well short of Premier Li Keqiang’s initial target of “around 5.5 per cent”. That will trigger a lot of... https://www.scmp.com/comment/opinion/article/3207904/vibrant-private-sector-can-put-china-back-path-growth?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3207904/vibrant-private-sector-can-put-china-back-path-growth?utm_source=rss_feed Tue, 24 Jan 2023 21:23:23 +0000 China is letting the world’s trade and financial leaders know that it is already embarking on a steady economic recovery, and that it will embrace more international exchanges, days after recalibrating its zero-Covid strategy. The world’s second-largest economy will also be able to safeguard global supply chains and continue to be investor-friendly, Premier Li Keqiang vowed on Friday at the 1+6 Roundtable, an annual dialogue between China and six major international organisations. “We’ll further... https://www.scmp.com/economy/global-economy/article/3202773/premier-li-tells-worlds-trade-finance-leaders-chinas-doors-will-be-opened-wider?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3202773/premier-li-tells-worlds-trade-finance-leaders-chinas-doors-will-be-opened-wider?utm_source=rss_feed Fri, 09 Dec 2022 12:55:58 +0000 China’s economic growth will recover steadily along with Beijing’s relaxation of its coronavirus policy, Premier Li Keqiang told the visiting heads of international organisations on Thursday. The outgoing premier also pledged cooperation to address debt and climate change challenges to the heads of the World Bank, World Trade Organization and International Monetary Fund (IMF) in Huangshan, Anhui province. Li’s optimistic expectations came as the world’s second-largest economy has pivoted its... https://www.scmp.com/economy/economic-indicators/article/3202594/china-premier-li-keqiang-promises-imf-wto-world-bank-heads-steady-economic-growth-despite?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3202594/china-premier-li-keqiang-promises-imf-wto-world-bank-heads-steady-economic-growth-despite?utm_source=rss_feed Thu, 08 Dec 2022 13:00:44 +0000 Chinese President Xi Jinping told European Council President Charles Michel that people protesting against the country’s strict Covid-19 measures are “mainly students” who are “frustrated” after three years of the pandemic, according to senior EU officials. They said he made the comments during a three-hour meeting in Beijing on Thursday. Top Beijing university officials seek to temper students’ zero-Covid fury Publicly, Beijing has not acknowledged the protests, which in some cases included... https://www.scmp.com/news/china/diplomacy/article/3201901/chinese-president-xi-jinping-believes-frustrated-students-are-behind-covid-protests-eu-officials-say?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3201901/chinese-president-xi-jinping-believes-frustrated-students-are-behind-covid-protests-eu-officials-say?utm_source=rss_feed Fri, 02 Dec 2022 13:13:21 +0000 China is willing to step up economic cooperation with Japan and offer a fair environment for Japanese investors, Premier Li Keqiang told business leaders, echoing the consensus reached between leaders of the two countries following their meeting in Thailand earlier this month. Li addressed the 8th China-Japan Business Leader and Former High-Level Government Official Dialogue via video link on Monday, stressing the importance of respect and treating each other “as equals”. “Maintaining the sound... https://www.scmp.com/news/china/diplomacy/article/3201395/china-seeks-economic-cooperation-japan-welcomes-investment-li-keqiang-says?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3201395/china-seeks-economic-cooperation-japan-welcomes-investment-li-keqiang-says?utm_source=rss_feed Tue, 29 Nov 2022 08:47:00 +0000 Beijing is doubling down on its efforts to boost infrastructure and equipment renovation, while also relaxing property financing, in an apparent bid to offset the mounting pressure caused by record-high coronavirus infections amid an unwavering zero-Covid policy. The State Council will dispatch inspection teams before the end of November to enhance the local-level implementations of economic-stabilisation policies, given that the fourth quarter is “key to economic recovery” and “very important”... https://www.scmp.com/economy/china-economy/article/3200864/china-dispatch-economic-inspectors-ensure-beijings-policies-are-fully-implemented-warnings-mount?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3200864/china-dispatch-economic-inspectors-ensure-beijings-policies-are-fully-implemented-warnings-mount?utm_source=rss_feed Thu, 24 Nov 2022 10:00:39 +0000