https://www.scmp.com/rss/39777/feed en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Daniel Ren Daniel Ren Beijing has renewed a trade-in subsidy for car purchases, at least a week ahead of schedule, in an apparent effort to prop up the country’s automotive sector amid worries of a sales slump in 2026. Buyers who replace their petrol and electric cars with new vehicles would receive a cash subsidy of up to 20,000 yuan (US$2,858) per unit, according to a circular jointly released on Monday by the National Development and Reform Commission and the Ministry of Finance. The authorities were earlier... https://www.scmp.com/business/china-business/article/3338281/beijing-renews-trade-subsidy-scheme-amid-domestic-car-markets-gloomy-outlook?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3338281/beijing-renews-trade-subsidy-scheme-amid-domestic-car-markets-gloomy-outlook?utm_source=rss_feed Wed, 31 Dec 2025 08:30:08 +0000 Cao Li Cao Li With the first wave of commercial Chinese real estate investment trusts (REITs) set to launch in the next two years, Greater Bay Area assets are likely to be in strong demand, according to Deloitte China. “GBA assets will likely be oversubscribed,” according to Ryan Wu, deputy managing partner for Hong Kong Chinese enterprises services with Deloitte China. He was speaking at the recent APREA GBA Conference on the fast-growing C-Reits market, which has recently expanded to include commercial... https://www.scmp.com/business/china-business/article/3337867/greater-bay-area-assets-poised-lead-surge-chinas-expanding-c-reit-market?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3337867/greater-bay-area-assets-poised-lead-surge-chinas-expanding-c-reit-market?utm_source=rss_feed Sun, 28 Dec 2025 03:30:11 +0000 Sylvia Ma Sylvia Ma China’s top economic planner, the National Development and Reform Commission (NDRC), confirmed last month that Beijing was setting up a new “policy-based financial instrument” worth 500 billion yuan (US$70 billion). The special financing tool was first proposed in April – when trade tensions between China and the United States were rapidly escalating – to provide an extra injection of funding to accelerate domestic innovation and support the economy. It has the potential to drive trillions of... https://www.scmp.com/economy/china-economy/article/3329244/china-has-new-500-billion-yuan-financial-instrument-how-will-it-be-used?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3329244/china-has-new-500-billion-yuan-financial-instrument-how-will-it-be-used?utm_source=rss_feed Fri, 17 Oct 2025 03:00:10 +0000 Xiaofei Xu Xiaofei Xu Chinese regulators have launched renewed efforts to tackle the phenomenon of disorderly price competition, including the potential formulation of state-sanctioned cost assessments and firm actions against below-cost bidding. The National Development and Reform Commission (NDRC) – the country’s top economic planner – and the State Administration for Market Regulation (SAMR) published a joint policy paper on Thursday outlining measures designed to limit the intense competition within some... https://www.scmp.com/economy/china-economy/article/3328465/chinese-regulators-step-efforts-target-disorderly-price-competition?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3328465/chinese-regulators-step-efforts-target-disorderly-price-competition?utm_source=rss_feed Fri, 10 Oct 2025 03:21:20 +0000 Sylvia Ma Sylvia Ma China’s top economic planner has flagged a megaproject to expand shipping capacity on the Three Gorges, slated to span the coming five-year plan, while also calling for greater investment to drive strategic initiatives. In a report submitted to the Standing Committee of the National People’s Congress on Wednesday, Zheng Shanjie, chairman of the National Development and Reform Commission (NDRC), underscored the need to push major infrastructure projects such as the new shipping channel on the... https://www.scmp.com/economy/china-economy/article/3325216/china-backs-three-gorges-megaproject-investment-push-hot-heels-giant-tibet-dam?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3325216/china-backs-three-gorges-megaproject-investment-push-hot-heels-giant-tibet-dam?utm_source=rss_feed Thu, 11 Sep 2025 11:00:24 +0000 Hannah Wang Hannah Wang An AI start-up backed by the Chinese Academy of Sciences’ Institute of Automation is seeking to promote its artificial intelligence offerings outside the mainland under a strategic partnership with Cherrypicks, the firm behind Hong Kong’s Covid-19 tracking app. Beijing-based Zhongke WengAI, whose services are used by various Chinese ministries and state media outlets, will also jointly develop with Cherrypicks – owned by Hong Kong-listed NetDragon Websoft – enterprise AI solutions for industries... https://www.scmp.com/tech/tech-trends/article/3322029/chinese-start-joins-netdragon-owned-cherrypicks-push-ai-solutions-overseas?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3322029/chinese-start-joins-netdragon-owned-cherrypicks-push-ai-solutions-overseas?utm_source=rss_feed Fri, 15 Aug 2025 23:00:09 +0000 Xiaofei Xu Xiaofei Xu China has signalled growing support for the private sector, as the head of the government department that oversees economic reform sat down with representatives of the tech industry to gather input ahead of Beijing’s next five-year development blueprint, analysts said. Zheng Shanjie, chairman of the National Development and Reform Commission (NDRC), met leaders from five private enterprises to “gather opinions and suggestions for the scientific formulation of the ‘15th Five-Year Plan’, with a... https://www.scmp.com/economy/china-economy/article/3314001/ai-chips-china-courts-private-tech-firms-help-drive-next-5-year-plan?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3314001/ai-chips-china-courts-private-tech-firms-help-drive-next-5-year-plan?utm_source=rss_feed Wed, 11 Jun 2025 09:30:13 +0000 China has updated its market access negative list, reducing the number of sectors that restrict or prohibit investment or operation by private firms, the country’s top economic planner announced on Thursday. The latest list released by the National Development and Reform Commission (NDRC) features 106 restricted areas, down from 117 in the previous version issued in 2022, heralding a further liberalisation of the business environment for private enterprises. Which industries have been removed or... https://www.scmp.com/economy/china-economy/article/3307731/chinas-latest-market-access-negative-list-opens-new-sectors-private-firms?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3307731/chinas-latest-market-access-negative-list-opens-new-sectors-private-firms?utm_source=rss_feed Thu, 24 Apr 2025 07:00:12 +0000 The Chinese economic miracle occurred on a far greater scale than even the most experienced observers could have imagined. It transformed a country with a gross domestic product of US$361 billion in 1990 into an international financial powerhouse and market leader in several technology-related areas. By 2023, its GDP had risen to US$17.8 trillion, an increase of over 4,800 per cent. This economic transformation lifted over 800 million people from poverty, vastly expanded the middle class and led... https://www.scmp.com/opinion/china-opinion/article/3293929/china-will-rein-vicious-competition-root-its-overcapacity?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3293929/china-will-rein-vicious-competition-root-its-overcapacity?utm_source=rss_feed Thu, 09 Jan 2025 12:30:09 +0000 Iris Deng Iris Deng Apple’s latest iPhone models are mostly excluded from China’s new subsidy scheme for boosting domestic consumption, giving domestic smartphone makers the opportunity to lift sales on the back of the stimulus measure. China will offer a 15 per cent subsidy for purchases of smartphones, tablets and smartwatches that cost under 6,000 yuan (US$818), in line with the government’s expanded trade-in scheme for consumer goods, according to a notice on Wednesday by the National Development and Reform... https://www.scmp.com/tech/big-tech/article/3293944/apples-pricey-iphones-out-chinas-new-subsidy-scheme-ceiling-capped-us818?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3293944/apples-pricey-iphones-out-chinas-new-subsidy-scheme-ceiling-capped-us818?utm_source=rss_feed Wed, 08 Jan 2025 13:00:18 +0000 Beijing has sent new olive branches to private enterprises, offering them improved access to state research facilities and national projects, as the world’s second-largest economy seeks more private investment to shore up its economic growth and stabilise the job market. The National Development and Reform Commission (NDRC) pledged at a meeting in the southwestern city of Chengdu on Thursday to support private firms with strong innovation capabilities to take the lead in carrying out major... https://www.scmp.com/economy/china-economy/article/3283822/beijing-offers-private-firms-more-access-national-projects-and-research?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3283822/beijing-offers-private-firms-more-access-national-projects-and-research?utm_source=rss_feed Fri, 25 Oct 2024 07:00:19 +0000 The window for a fiscal expansion to aid in China’s economic recovery might be narrower than previously thought, analysts said, as any new round of stimulus would need to be approved by the nation’s top legislature – a body whose governing committee has a meeting scheduled for later this month. Officials of the National Development and Reform Commission (NDRC), the country’s foremost economic planner, said on Tuesday they would speed up government spending while largely reiterating plans to... https://www.scmp.com/economy/policy/article/3281546/chinas-space-fiscal-stimulus-could-be-limited-amid-debt-woes-analysts?utm_source=rss_feed https://www.scmp.com/economy/policy/article/3281546/chinas-space-fiscal-stimulus-could-be-limited-amid-debt-woes-analysts?utm_source=rss_feed Wed, 09 Oct 2024 00:30:09 +0000 China’s top economic planner relayed a constructive, pro-growth tone at a closely watched press conference on Tuesday – a message echoed by the country’s premier in meetings held the same day – though capital markets were disappointed by an absence of specific stimulus measures to buoy earlier gains. Analysts, however, took some positives from the event’s attendance sheet – National Development and Reform Commission (NDRC) chairman Zheng Shanjie spoke alongside his four deputies – as well as its... https://www.scmp.com/economy/china-economy/article/3281586/china-sets-upbeat-tone-high-profile-meetings-despite-lack-supercharged-stimulus?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3281586/china-sets-upbeat-tone-high-profile-meetings-despite-lack-supercharged-stimulus?utm_source=rss_feed Tue, 08 Oct 2024 12:30:15 +0000 Zhou Xin Zhou Xin China’s latest stock market rally has quickly turned retail investors’ mood across the country from extremely bearish to very bullish, as domestic social media fans a growing sentiment of FOMO – the fear of missing out – even though another round of volatility could be just down the road. After Beijing on September 24 announced a slew of measures described as the “most significant stimulus package since the early days of the pandemic”, major stock indices on the mainland and in Hong Kong saw... https://www.scmp.com/tech/tech-trends/article/3281396/chinas-stock-market-frenzy-reflects-social-medias-growing-influence-retail-investors?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3281396/chinas-stock-market-frenzy-reflects-social-medias-growing-influence-retail-investors?utm_source=rss_feed Mon, 07 Oct 2024 23:00:13 +0000 Yuke Xie Yuke Xie China’s top economic planner is encouraging more mainland companies to leverage Hong Kong’s international financial platform for cross-border financing activities to fund projects at home or expansion overseas. Asia’s leading financial hub – the biggest offshore yuan centre – can help onshore companies broaden their funding channels and optimise their financing structures, according to a top official at the National Development and Reform Commission (NDRC). “Hong Kong serves not only as the... https://www.scmp.com/business/banking-finance/article/3279799/chinas-ndrc-urges-firms-use-hong-kong-financing-local-projects-overseas-plans?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3279799/chinas-ndrc-urges-firms-use-hong-kong-financing-local-projects-overseas-plans?utm_source=rss_feed Tue, 24 Sep 2024 13:30:07 +0000 Chinese e-commerce giant JD.com is investing more than 6.5 billion yuan (US$900 million) with partners to bolster this year’s nationwide trade-in programme for home appliances and consumer goods, part of Beijing’s efforts to energise the country’s post-pandemic economic recovery. Most of that investment will be used to subsidise consumers for trading in their home appliances and consumer electronics goods that include personal computers and various communications devices, JD.com’s Lei Sun, an... https://www.scmp.com/tech/big-tech/article/3262809/jdcom-commits-us900-million-support-nationwide-trade-programme-home-appliances-consumer-goods?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3262809/jdcom-commits-us900-million-support-nationwide-trade-programme-home-appliances-consumer-goods?utm_source=rss_feed Wed, 15 May 2024 12:00:20 +0000 The Chinese leadership’s advocacy for measures to support and spur growth in the private sector economy has intensified in 2023. A few months ago, China created a new government agency called the private economy development bureau, under the oversight of the National Development and Reform Commission, with the mandate to coordinate a raft of support policies that would boost the growth momentum of private companies across the nation. The bureau was born in a political atmosphere that encourages... https://www.scmp.com/business/china-business/article/3243783/china-should-rely-rule-law-instead-flimsy-political-promises-spur-growth-nations-private-sector?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3243783/china-should-rely-rule-law-instead-flimsy-political-promises-spur-growth-nations-private-sector?utm_source=rss_feed Mon, 04 Dec 2023 23:00:13 +0000 The establishment of China’s new National Data Administration (NDA) agency underscores Beijing’s ambitions to develop the digital economy and strengthen regulation of the country’s vast and fast-growing data pool, observers say. According to analysts, the rapid growth of artificial intelligence is another key driver behind the agency, inaugurated last month as Beijing seeks to outpace Washington and other Western countries in setting norms and standards for data governance. The potential dangers... https://www.scmp.com/news/china/politics/article/3242067/china-launches-new-data-agency-ambitions-ai-and-digital-economy-soar?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3242067/china-launches-new-data-agency-ambitions-ai-and-digital-economy-soar?utm_source=rss_feed Sun, 19 Nov 2023 22:00:15 +0000 China’s Big Tech companies are ramping up plans for potential new acquisitions and accelerating recruitment initiatives after a wave of lay-offs last year, as Beijing’s pledge to give the green light on more technology deals and the end of a 32-month regulatory crackdown have put the industry back in expansion mode. The country’s major internet platform operators “are now in a position to keep investing in new development programmes”, said Zhuang Shuai, founder and chief analyst at market... https://www.scmp.com/tech/big-tech/article/3229620/chinas-big-tech-companies-revive-expansion-plans-after-beijing-vows-give-green-light-more-deals-ends?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3229620/chinas-big-tech-companies-revive-expansion-plans-after-beijing-vows-give-green-light-more-deals-ends?utm_source=rss_feed Tue, 01 Aug 2023 11:00:14 +0000 A Chinese space scientist has revealed more details about China’s 13,000-satellite project, which aims to compete with SpaceX’s Starlink. Project GW is “forging ahead in an orderly manner”, according to Qu Wei, an aerothermal expert from the China Academy of Aerospace Aerodynamics in Beijing. GW refers to Guowang, or national network. Qu said the project was launched by the National Development and Reform Commission, a powerful central government agency overseeing the implementation of major... https://www.scmp.com/news/china/science/article/3229451/forging-ahead-china-boosts-its-project-gw-satellite-rival-compete-elon-musks-starlink?utm_source=rss_feed https://www.scmp.com/news/china/science/article/3229451/forging-ahead-china-boosts-its-project-gw-satellite-rival-compete-elon-musks-starlink?utm_source=rss_feed Mon, 31 Jul 2023 14:30:09 +0000 China’s top leaders pledged fresh support to the country’s Big Tech sector in Monday’s Politburo meeting chaired by President Xi Jinping, reinforcing efforts to reverse the government’s previous regulatory crackdown that kneecapped the nation’s influential and best-performing technology companies to thwart “the irrational expansion of capital”. The Chinese Communist Party’s seven-member Politburo Standing Committee, the country’s highest policymaking body, said the nation will “promote the... https://www.scmp.com/tech/big-tech/article/3228870/chinas-first-us1-trillion-tech-firm-beijings-top-leaders-offer-fresh-backing-countrys-big-tech?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3228870/chinas-first-us1-trillion-tech-firm-beijings-top-leaders-offer-fresh-backing-countrys-big-tech?utm_source=rss_feed Tue, 25 Jul 2023 13:30:17 +0000 China’s proposed National Data Bureau, a new agency to be formed as part of a sweeping overhaul of government institutions under the State Council, is expected to become a powerful tool for Beijing to promote development of the country’s digital economy, according to analysts. The bureau, which will be under China’s top economic planning authority the National Development and Reform Commission (NDRC), will be responsible for “coordinating and promoting the construction of data infrastructure,... https://www.scmp.com/tech/policy/article/3212823/chinas-proposed-national-data-bureau-become-powerful-tool-beijing-ratchet-development-digital?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3212823/chinas-proposed-national-data-bureau-become-powerful-tool-beijing-ratchet-development-digital?utm_source=rss_feed Wed, 08 Mar 2023 13:00:10 +0000 Online shopping across mainland China is expected to record significant growth during this Lunar New Year holiday, according to a report by Alibaba Group Holding, as Beijing bets on domestic consumption to help revive the economy after lifting most Covid-19 restrictions last month. Sales of nianhuo – Lunar New Year specialities that include gift boxes and alcoholic drinks – have already surged 30 per cent year on year on both Tmall and Taobao Marketplace, Alibaba’s two main Chinese online retail... https://www.scmp.com/tech/tech-trends/article/3207426/chinese-consumers-online-shopping-activities-surge-back-lunar-new-year-holiday-demand-alibaba-report?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3207426/chinese-consumers-online-shopping-activities-surge-back-lunar-new-year-holiday-demand-alibaba-report?utm_source=rss_feed Thu, 19 Jan 2023 23:30:12 +0000 China’s top economic planner will tighten supervision of iron ore pricing after the steelmaking ingredient’s surge in recent months. The National Development and Reform Commission (NDRC) said in a statement on Sunday it would crack down on illegal activities including spreading false information, hoarding and price gouging to keep the iron ore market stable. Some information providers were summoned by the NDRC over publication of old or false news that confused the public and had an adverse... https://www.scmp.com/economy/china-economy/article/3206886/china-crack-down-iron-ore-price-gouging-market-rallies-post-pandemic-hopes?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3206886/china-crack-down-iron-ore-price-gouging-market-rallies-post-pandemic-hopes?utm_source=rss_feed Sun, 15 Jan 2023 08:17:20 +0000 Building a market for trading data represents a “key measure” for China to move forward its “common prosperity” strategy, according to the country’s top economic planning body, as Beijing boosts efforts to develop the nation’s digital economy by applying commercial rules to information exchange. “The idea that data should play a role in wealth distribution is a major theory innovation and breakthrough by the Chinese Communist Party,” the National Development and Reform Commission (NDRC) wrote in... https://www.scmp.com/tech/policy/article/3205599/chinas-creation-market-trading-data-help-achieve-common-prosperity-goal-countrys-top-economic?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3205599/chinas-creation-market-trading-data-help-achieve-common-prosperity-goal-countrys-top-economic?utm_source=rss_feed Wed, 04 Jan 2023 23:00:12 +0000 Shenzhen has doubled down on efforts to advance China’s hi-tech self-sufficiency drive by establishing an international sourcing platform for semiconductors and other electronics components amid US trade restrictions. The Electronic Components and Integrated Circuits International Trading Centre Co, based in the city’s Qianhai economic zone, has registered at local market authorities and received its business licence on December 30, according to announcements made on Tuesday by several... https://www.scmp.com/tech/big-tech/article/3205560/us-china-tech-war-shenzhen-set-become-international-sourcing-hub-semiconductors-electronics-new?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3205560/us-china-tech-war-shenzhen-set-become-international-sourcing-hub-semiconductors-electronics-new?utm_source=rss_feed Wed, 04 Jan 2023 10:14:48 +0000 Chinese authorities will impose a strict review of data processing, cross-border data transfers, and mergers and acquisitions (M&A) activities involving foreign capital that could affect national security, as Beijing moves to safeguard what it considers as sensitive information. That approach forms part of new policy guidelines released on Monday by the Central Committee of the Chinese Communist Party and the State Council, the country’s cabinet. The guidelines aim to boost the country’s data... https://www.scmp.com/tech/policy/article/3204022/china-imposes-national-security-review-data-merger-deals-involving-foreign-capital-beijing-tightens?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3204022/china-imposes-national-security-review-data-merger-deals-involving-foreign-capital-beijing-tightens?utm_source=rss_feed Tue, 20 Dec 2022 23:00:13 +0000 China’s top economic planning agency has ramped up positive rhetoric about the economy on the sidelines of the 20th party congress, saying that growth “rebounded significantly” in the third quarter and remained “outstanding” when compared with the rest of the world. The comments came as China was expected to release its third-quarter economic data on Tuesday. But according to the National Bureau of Statistics (NBS), the release of the data, which was expected to include the gross domestic... https://www.scmp.com/economy/china-economy/article/3196228/chinas-gdp-rebounded-significantly-third-quarter-state?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3196228/chinas-gdp-rebounded-significantly-third-quarter-state?utm_source=rss_feed Mon, 17 Oct 2022 08:01:00 +0000 China has drafted new guidelines for the commercial use of fully autonomous vehicles in public transport, helping pave the way for the development and deployment of new fleets of self-driving taxis, buses and trucks nationwide. The country’s Ministry of Transport, which published the draft guidelines on Monday, said in a statement that the rules would enable the country “to adapt to the development of autonomous driving technologies and encourage the regulated application of self-driving... https://www.scmp.com/tech/policy/article/3188314/china-steps-autonomous-driving-development-new-guidelines-operating?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3188314/china-steps-autonomous-driving-development-new-guidelines-operating?utm_source=rss_feed Tue, 09 Aug 2022 14:30:18 +0000 China is doubling down on self-reliance and import diversification to safeguard energy security in the latest blueprint for the sector, though closer cooperation with Russia is predicted following its invasion of Ukraine. The country is in a “critical stage” of ensuring energy security as new and old risks become “intertwined”, according to the 14th five-year plan for 2021-25 that was published on Tuesday. The plan said China must supply more of its own energy needs by 2025, while advocating for... https://www.scmp.com/economy/china-economy/article/3171566/china-energy-blueprint-pushes-independence-opportunities?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3171566/china-energy-blueprint-pushes-independence-opportunities?utm_source=rss_feed Wed, 23 Mar 2022 16:00:13 +0000 China aims to establish a complete hydrogen industry covering transport, energy storage and industrial sectors, and “significantly improve” the portion of the gas in its energy mix by 2035, according to a plan released by the National Development and Reform Commission (NDRC) on Wednesday. By 2025, China hopes to produce between 100,000 tonnes and 200,000 tonnes of green hydrogen annually, and have about 50,000 hydrogen-fuelled vehicles on the road. This would help to reduce carbon dioxide... https://www.scmp.com/business/china-business/article/3171578/climate-change-china-sets-green-hydrogen-targets-it-shifts?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3171578/climate-change-china-sets-green-hydrogen-targets-it-shifts?utm_source=rss_feed Wed, 23 Mar 2022 11:38:14 +0000 China’s plan to build a national computing network to improve capacity is now under the spotlight at the country’s annual political gala, with the project generating speculation of an investment boom. The plan to channel computing resources from the country’s eastern regions to more impoverished western regions, was rolled out by China’s top state planner, the National Development and Reform Commission (NDRC) last month, aimed at increasing the country’s computing capacity. There will be eight... https://www.scmp.com/tech/policy/article/3169999/two-sessions-2022-chinas-blueprint-national-computing-network-takes?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3169999/two-sessions-2022-chinas-blueprint-national-computing-network-takes?utm_source=rss_feed Fri, 11 Mar 2022 01:00:21 +0000 China’s government plans to cut the cost of energy storage systems by 2025 to help local industries leapfrog the world as the vanguard of novel energy storage technology five years later. The production cost of large chemicals-based systems will be cut by 30 per cent by 2025, while compressed air energy-storage technology would realise “engineering applications” in units with 100 megawatts of capacity, according to a five-year plan drafted by the National Development and Reform Commission (NDRC)... https://www.scmp.com/business/article/3168078/climate-change-china-slash-costs-energy-storage-systems-industry-leapfrog?utm_source=rss_feed https://www.scmp.com/business/article/3168078/climate-change-china-slash-costs-energy-storage-systems-industry-leapfrog?utm_source=rss_feed Thu, 24 Feb 2022 00:30:18 +0000 Chinese on-demand delivery services providers, led by Meituan and Ele.me, face gloomy prospects after Beijing directed these internet platforms to cut the fees they charge restaurants, which has put a cap on their profit margins, according to analysts. “Since food delivery accounts for a big proportion of these platforms’ revenue, the reduced commission fee would have an impact [on their revenue],” said Zhang Yi, chief executive of market research firm iiMedia. Beijing-based Meituan, operator of... https://www.scmp.com/tech/policy/article/3167870/china-tech-crackdown-meituan-eleme-other-demand-delivery-providers-face?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3167870/china-tech-crackdown-meituan-eleme-other-demand-delivery-providers-face?utm_source=rss_feed Mon, 21 Feb 2022 13:31:47 +0000 China will develop an international sourcing platform for semiconductors and other electronic components in Shenzhen – known as the country’s Silicon Valley and the richest city in southern Guangdong province – in a bid to advance the nation’s hi-tech self-sufficiency drive amid a race between Beijing and Washington to overcome the global chip shortage. The goal is to engage various companies involved in the semiconductor and electronics industries around the world, including manufacturers and... https://www.scmp.com/tech/policy/article/3164794/us-china-tech-war-shenzhen-establish-international-sourcing-platform?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3164794/us-china-tech-war-shenzhen-establish-international-sourcing-platform?utm_source=rss_feed Wed, 26 Jan 2022 11:00:27 +0000 China’s overseer of offshore bonds has swung into action, promising easier access to foreign exchange to enable the borrowers of overseas debt to fulfil their obligations, as a string of missed payments turns the final quarter of 2021 into another record period of defaults. In a meeting with several of the biggest offshore bond issuers,the National Development and Reform Commission (NDRC) said it would smooth the way to meet borrowers’ “reasonable needs” in debt swaps, registering dollar bonds... https://www.scmp.com/business/china-business/article/3153842/chinas-offshore-bonds-watchdog-promises-easier-funds?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3153842/chinas-offshore-bonds-watchdog-promises-easier-funds?utm_source=rss_feed Wed, 27 Oct 2021 06:05:51 +0000 Coco Feng Coco Feng China’s top economic planner is seeking to eliminate cryptocurrency mining activity in the country, months after a government crackdown that turned dozens of companies from model energy consumers into pariahs in the world’s second-largest economy. The National Development and Reform Commission (NDRC) on Thursday added mining of bitcoin and other digital tokens to a blacklist of industrial activities that must be abandoned, as the country pushes to reach carbon neutrality by 2060. It was the sole... https://www.scmp.com/tech/policy/article/3153311/china-puts-cryptocurrency-mining-industrial-blacklist-final-step?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3153311/china-puts-cryptocurrency-mining-industrial-blacklist-final-step?utm_source=rss_feed Fri, 22 Oct 2021 13:00:08 +0000 Prices for major industrial commodities have begun to fall from their recent historic highs thanks in part to Beijing’s intervention to boost domestic supply and curb speculation. But the central government’s moves have also raised questions about excessive price interference and raised concern about market distortions as the country accelerates its push towards carbon neutrality in 2060. At a recent event organised by the China Finance 40 Forum, a Beijing-based group of financial officials and... https://www.scmp.com/economy/china-economy/article/3135079/china-warned-excessive-market-intervention-commodity-prices?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3135079/china-warned-excessive-market-intervention-commodity-prices?utm_source=rss_feed Thu, 27 May 2021 10:15:26 +0000 China has stepped up efforts to curb skyrocketing raw material costs that pose a threat to economic recovery, summoning representatives of its metal industry at the weekend to warn them against any moves that would bid up prices. The National Development and Reform Commission vowed on Sunday to show “zero tolerance” for illegal activity, including price fixing, spreading false information, hoarding or any speculative activity, according to a statement released after the meeting with the key... https://www.scmp.com/economy/china-economy/article/3134665/china-warns-metal-industry-zero-tolerance-speculation?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3134665/china-warns-metal-industry-zero-tolerance-speculation?utm_source=rss_feed Mon, 24 May 2021 13:00:14 +0000 China has increased efforts to curb the massive production capacity of its domestic steel industry, a sector central to trade disputes with the United States and the European Union (EU), but also one of the nation’s largest sources of air pollution. The planned production cuts come after a government-stimulated building boom helped the Chinese economy rebound from the damage caused by the coronavirus pandemic early last year. Steel output to support the construction boom has caused iron ore... https://www.scmp.com/economy/china-economy/article/3132666/china-targets-air-pollution-steel-overcapacity-new-curbs?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3132666/china-targets-air-pollution-steel-overcapacity-new-curbs?utm_source=rss_feed Sat, 08 May 2021 08:00:12 +0000 China’s move to suspend high-level trade dialogue with Canberra will formalise the breakdown in communications between the two governments already locked in a year-long conflict and could set back any hope of reconciliation, former Australian trade minister Andrew Robb said. On Thursday, China’s top economic planner, the National Development and Reform Commission (NDRC) “indefinitely suspended” the China-Australia Strategic Economic Dialogue and all activities under the initiative citing ongoing... https://www.scmp.com/economy/china-economy/article/3132484/china-australia-relations-suspended-talks-unfortunate-tit-tat?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3132484/china-australia-relations-suspended-talks-unfortunate-tit-tat?utm_source=rss_feed Thu, 06 May 2021 09:15:11 +0000 Chinese President Xi Jinping has vowed to use a development plan for the prosperous Yangtze River Delta region to showcase his “dual-circulation” strategy, which will focus on making the domestic economy more resilient while continuing to support exports. The development blueprint includes Shanghai and the neighbouring provinces of Anhui, Jiangsu and Zhejiang – an area which accounts for a quarter of China’s gross domestic product. In a speech last week, Xi highlighted the need to break down... https://www.scmp.com/economy/china-economy/article/3098621/china-use-yangtze-river-delta-development-showcase-dual?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3098621/china-use-yangtze-river-delta-development-showcase-dual?utm_source=rss_feed Mon, 24 Aug 2020 12:00:09 +0000 China’s top economic planner said it would cut the production and use of plastic over the next five years, helping reduce one of the world’s biggest sources of plastic pollution. By the end of this year, non-degradable plastic bags will be banned in places such as supermarkets and shopping malls in major cities, as well as in the country’s ubiquitous food delivery services, according to a plan released by the National Development and Reform Commission on Sunday. China will significantly reduce... https://www.scmp.com/news/china/society/article/3046760/china-unveils-plan-reduce-single-use-plastic-2025?utm_source=rss_feed https://www.scmp.com/news/china/society/article/3046760/china-unveils-plan-reduce-single-use-plastic-2025?utm_source=rss_feed Sun, 19 Jan 2020 16:56:34 +0000 China may see a building boom of football pitches, as the government steps up its programme to provide facilities, financing and other aid to nurture talent and revitalise one of the nation’s favourite spectator sports. The central government will provide cash subsidies of up to 2 million yuan (US$290,543) toward the construction of every standard 11-a-side playing field, while smaller pitches for five-a-side and seven-a-side games will get 1 million yuan each, according to a proposal announced... https://www.scmp.com/business/money/money-news/article/3020800/will-chinas-subsidies-unleash-building-boom-football?utm_source=rss_feed https://www.scmp.com/business/money/money-news/article/3020800/will-chinas-subsidies-unleash-building-boom-football?utm_source=rss_feed Wed, 31 Jul 2019 10:00:08 +0000 There was little fanfare last month when China’s central planning agency quietly had its remit expanded to govern whether inward investments threaten national security. However, experts are suggesting that the new powers, together with a new article in its foreign investment law, gives China a legitimate platform to make a strong legal case against US firms investing in the country, as the trade war escalates. The National Development and Reform Commission (NDRC) is now charged with reviewing... https://www.scmp.com/economy/global-economy/article/3010002/china-tightens-national-security-review-foreign-investments?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3010002/china-tightens-national-security-review-foreign-investments?utm_source=rss_feed Mon, 13 May 2019 10:30:12 +0000 Plans to liquidate China’s thousands of “zombie” companies are underway in several of its provinces, according to state media, as the government moves towards an aggressive target of eliminating such firms by 2020. In December, the Chinese government set a goal of closing zombie state-owned enterprises by the end of 2020. On February 1, the Economic Information Daily, a newspaper owned by the Xinhua News Agency, reported that various arms of the government, including regional authorities and the... https://www.scmp.com/economy/china-economy/article/2185186/china-steps-efforts-close-failed-zombie-companies-2020-faces?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/2185186/china-steps-efforts-close-failed-zombie-companies-2020-faces?utm_source=rss_feed Thu, 07 Feb 2019 01:32:57 +0000 China’s top energy price regulator has launched antitrust investigations on 17 firms including a unit of the nation’s largest natural gas supplier, and slapped fines on at least four gas and heat suppliers for flouting price rules amid winter shortages. The move highlights Beijing’s reluctance to let market forces determine demand and supply of energy products at times of surging prices and shortages despite having partially liberalised energy prices. Natural gas is a key winter commodity in a... https://www.scmp.com/business/commodities/article/2125766/china-opens-antitrust-probe-gas-suppliers-shortage-drives?utm_source=rss_feed https://www.scmp.com/business/commodities/article/2125766/china-opens-antitrust-probe-gas-suppliers-shortage-drives?utm_source=rss_feed Wed, 27 Dec 2017 02:56:34 +0000 China’s government has tapped 14 strategic investors, including a who’s who of the country’s largest technology companies and private enterprises, to anchor an ambitious plan to shake up the ownership structure of the second-biggest domestic telecommunications network operator. China United Network Communications, the Shanghai-based holding company of Hong Kong-traded China Unicom, will sell a 35.2 per cent stake for about 78 billion yuan (US$11.7 billion) to a consortium of... https://www.scmp.com/tech/article/2106982/unicom-shares-halted-speculation-mounts-new-investors-its-parent-company?utm_source=rss_feed https://www.scmp.com/tech/article/2106982/unicom-shares-halted-speculation-mounts-new-investors-its-parent-company?utm_source=rss_feed Wed, 16 Aug 2017 04:00:45 +0000 Property developers say the seemingly arbitrary way in which regulators have been approving – and refusing to approve – offshore bond sales is causing them problems when it comes to fundraising. Several homebuilders have told the South China Morning Post that the National Development and Reform Commission (NDRC), which approves corporate debt issuance, had blocked all sales of new bonds by real estate companies since April in an apparent bid to cool the property market by tightening... https://www.scmp.com/business/companies/article/2100389/confusing-bond-sale-rules-are-giving-chinese-developers-headache?utm_source=rss_feed https://www.scmp.com/business/companies/article/2100389/confusing-bond-sale-rules-are-giving-chinese-developers-headache?utm_source=rss_feed Wed, 28 Jun 2017 09:24:01 +0000 China’s state planner released a blueprint on Friday for developing the Yangtze River Delta cities into a “globally influential” cluster of metropolises by 2030. The blueprint also includes for the first time cities in Anhui province in the delta’s development, along with Shanghai and other big cities in Jiangsu and Zhejiang provinces. Better transport will connect Shanghai and its neighbouring cities, making coordinated development within the region much easier Xu Mingqi, Shanghai Academy of... https://www.scmp.com/news/china/policies-politics/article/1964289/china-rolls-out-blueprint-yangtze-global-city-cluster?utm_source=rss_feed https://www.scmp.com/news/china/policies-politics/article/1964289/china-rolls-out-blueprint-yangtze-global-city-cluster?utm_source=rss_feed Fri, 03 Jun 2016 18:02:30 +0000