https://www.scmp.com/rss/507590/feed en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Luna Sun Luna Sun China’s economy will grow 4.8 per cent in 2025 before growth moderates to 4.2 per cent in 2026 according to the latest projection by the International Monetary Fund (IMF), a sign of cautious optimism from the agency even as US-China ties remain volatile. The forecast for 2025 is unchanged from IMF’s July’s estimate, 0.8 percentage points higher than its April projection and 0.3 percentage points higher than the report from last October. The Chinese economy’s resilient performance was driven by... https://www.scmp.com/economy/china-economy/article/3328960/imf-raises-its-china-growth-forecast-despite-us-trade-war?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3328960/imf-raises-its-china-growth-forecast-despite-us-trade-war?utm_source=rss_feed Tue, 14 Oct 2025 13:00:08 +0000 Carol Yang,Sylvia Ma Carol Yang,Sylvia Ma China’s official gauge of manufacturing activity has stayed in contraction for a sixth consecutive month in September, providing more fuel for calls to step up government support amid persistent external headwinds and weak domestic demand. The manufacturing purchasing managers’ index (PMI) stood at 49.8 in September according to a Tuesday release from the National Bureau of Statistics, higher than August’s reading of 49.4 but falling short of a 50.1 projection from a survey of economists by... https://www.scmp.com/economy/economic-indicators/article/3327305/chinas-factory-activity-contracts-sixth-straight-month-september?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3327305/chinas-factory-activity-contracts-sixth-straight-month-september?utm_source=rss_feed Tue, 30 Sep 2025 01:36:59 +0000 Alice Li Alice Li As Super Typhoon Ragasa barrels down on southern China, the country’s tech and manufacturing hub has gone into emergency lockdown mode. With the highest alert level declared, officials in Shenzhen – the southern manufacturing powerhouse with a reputation as China’s Silicon Valley – sounded the alarm for “wartime readiness”. Residents responded by scrambling to stockpile supplies, boarding up or taping windows, and bracing for what forecasters are saying could be one of the most ferocious storms... https://www.scmp.com/economy/china-economy/article/3326584/wartime-readiness-shenzhen-scrambles-super-typhoon-ragasa-nears-chinas-tech-hub?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3326584/wartime-readiness-shenzhen-scrambles-super-typhoon-ragasa-nears-chinas-tech-hub?utm_source=rss_feed Tue, 23 Sep 2025 13:30:08 +0000 Sylvia Ma Sylvia Ma As the trade war between the world’s two largest economies drags on, the impact is already showing: China’s exports to the United States were down 15.5 per cent year on year in the first eight months of 2025. But US tariffs are not affecting China equally. The country is made up of more than 30 provincial-level regions, and there is a wide divergence between these areas both in terms of their exposure to the US market and the effect of the trade war. Some provinces have recorded steep drops in... https://www.scmp.com/economy/china-economy/article/3326118/which-chinese-regions-are-being-hit-hardest-us-tariffs?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3326118/which-chinese-regions-are-being-hit-hardest-us-tariffs?utm_source=rss_feed Fri, 19 Sep 2025 07:10:50 +0000 Alice Li Alice Li China’s western region of Xinjiang has recorded an extraordinary rise in merchandise shipments to the United States, despite the area being subject to Washington trade restrictions imposed over allegations of forced labour and other human rights abuses. US-bound shipments from the Xinjiang Uygur autonomous region rose 265 per cent year on year to US$2.4 billion in the first seven months of the year, Chinese customs data showed. The increase is startling given China’s overall exports to America... https://www.scmp.com/economy/china-economy/article/3325997/chinas-xinjiang-logs-265-jump-us-exports-despite-multiple-restrictions?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3325997/chinas-xinjiang-logs-265-jump-us-exports-despite-multiple-restrictions?utm_source=rss_feed Thu, 18 Sep 2025 12:00:11 +0000 Xinyi Wu,Ji Siqi Xinyi Wu,Ji Siqi China’s economy showed signs of strain in August, as sluggish domestic demand, headwinds from the US trade war and a prolonged property downturn continued to weigh on several major indicators. Retail sales, a major gauge of consumption, rose by 3.4 per cent in August from a year earlier, missing the 3.82 per cent forecast in a poll by financial data provider Wind and down from July’s 3.7 per cent growth, data from the National Bureau of Statistics (NBS) showed on Monday. Fu Linghui, spokesperson... https://www.scmp.com/economy/economic-indicators/article/3325524/chinas-economy-under-strain-august-retail-sales-industrial-output-miss-forecasts?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3325524/chinas-economy-under-strain-august-retail-sales-industrial-output-miss-forecasts?utm_source=rss_feed Mon, 15 Sep 2025 01:59:44 +0000 Sylvia Ma Sylvia Ma China’s consumer prices slipped back into decline in August, highlighting persistent deflationary pressures, while a narrower drop in factory-gate prices suggested Beijing’s “anti-involution” campaign may be starting to take hold. The national consumer price index (CPI), a key gauge of inflation, fell 0.4 per cent year on year last month, according to data released by the National Bureau of Statistics on Wednesday. The reading was worse than market expectations of a 0.2 per cent drop in a poll... https://www.scmp.com/economy/china-economy/article/3324962/chinese-consumer-prices-slip-back-decline-amid-deflationary-pressures?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3324962/chinese-consumer-prices-slip-back-decline-amid-deflationary-pressures?utm_source=rss_feed Wed, 10 Sep 2025 01:38:00 +0000 Luna Sun Luna Sun China reported sluggish factory activity in August, as fresh US tech curbs threatened to undermine Beijing’s push into advanced manufacturing. The National Bureau of Statistics said on Sunday that the official manufacturing purchasing managers’ index (PMI) for August was 49.4, edging up from 49.3 in July. The headline reading has remained below the 50-point mark that separates expansion from contraction since April, as strains persist in the industrial sector. The non-manufacturing measure of... https://www.scmp.com/economy/china-economy/article/3323806/china-still-waiting-factory-activity-lift-us-wields-new-tech-curbs?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3323806/china-still-waiting-factory-activity-lift-us-wields-new-tech-curbs?utm_source=rss_feed Sun, 31 Aug 2025 06:44:05 +0000 He Huifeng He Huifeng Thanks to its combined strengths in artificial intelligence and manufacturing, China rose two places to rank 19th out of 151 countries in the 2025 Elite Quality Index – a Swiss study that assesses the extent to which national elites create sustainable value for their nations. Singapore topped this year’s rankings, followed by the United States and Switzerland, in the annual report produced by the Foundation for Value Creation Activities in partnership with the University of St. Gallen. Asian... https://www.scmp.com/economy/china-economy/article/3322011/china-rises-elite-quality-league-table-ai-investment-booms?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3322011/china-rises-elite-quality-league-table-ai-investment-booms?utm_source=rss_feed Fri, 15 Aug 2025 13:00:08 +0000 Xinyi Wu,Ji Siqi Xinyi Wu,Ji Siqi After six months of steady improvement, China’s economy showed signs of strain in July, with several headline indicators losing momentum amid a weakening of domestic consumption, headwinds from the US trade war and a prolonged property downturn. Retail sales, a major gauge of consumption, rose by 3.7 per cent year on year in July, a drop in pace compared with the 4.8 per cent growth rate recorded in June, according to data released by the National Bureau of Statistics (NBS) on Friday. The... https://www.scmp.com/economy/economic-indicators/article/3321925/chinas-economy-shows-signs-strain-retail-sales-industrial-output-lose-momentum?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3321925/chinas-economy-shows-signs-strain-retail-sales-industrial-output-lose-momentum?utm_source=rss_feed Fri, 15 Aug 2025 02:00:06 +0000 Xinyi Wu Xinyi Wu China’s consumer prices were unchanged last month from a year ago and producer deflation persisted, suggesting that demand remains weak in the world’s second-largest economy amid trade turbulence. The national consumer price index (CPI), a key gauge of inflation, was flat in July compared to a year ago, according to data released by the National Bureau of Statistics on Saturday. The reading beat market expectations, as a poll by financial provider Wind had forecast a 0.12 per cent decline for... https://www.scmp.com/economy/economic-indicators/article/3321299/chinas-consumer-prices-flat-july-while-producer-deflation-persists?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3321299/chinas-consumer-prices-flat-july-while-producer-deflation-persists?utm_source=rss_feed Sat, 09 Aug 2025 03:55:01 +0000 Carol Yang Carol Yang China’s exports continued to accelerate in July as a fall in shipments to the United States was offset by growth in a range of markets, including Africa, Europe and Latin America, with chip exports surging by nearly 30 per cent, year on year. The world’s largest goods exporter saw outbound shipments rise last month by 7.2 per cent, year on year, to US$321.8 billion, according to customs data released on Thursday. The figure was higher than the 5.8 per cent growth rate recorded in June and beat... https://www.scmp.com/economy/china-economy/article/3321026/chinas-exports-accelerate-july-us-trade-truce-provides-boost?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3321026/chinas-exports-accelerate-july-us-trade-truce-provides-boost?utm_source=rss_feed Thu, 07 Aug 2025 03:08:41 +0000 Luna Sun Luna Sun China recorded a surprise rebound in marriage registrations in the second quarter as a new policy making it easier for couples to tie the knot kicked in, raising hopes that the government’s efforts to mitigate the country’s demographic decline may be starting to show results. But analysts cautioned that China’s population was still shrinking and that Beijing would need to follow through with even stronger pro-natal policies to foster a sustained recovery in birth numbers. A total of 3.54 million... https://www.scmp.com/economy/china-economy/article/3320956/china-records-surprise-jump-marriages-raising-hopes-births-rebound?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3320956/china-records-surprise-jump-marriages-raising-hopes-births-rebound?utm_source=rss_feed Wed, 06 Aug 2025 11:00:14 +0000 He Huifeng He Huifeng Two cities that have served as economic pillars for China’s southern province of Guangdong appear to be losing steam relative to their peers, prompting calls for stronger action to revive businesses. Tech hub Shenzhen and manufacturing centre Guangzhou reported gross domestic product growth of 5.1 and 3.8 per cent respectively in the period from January to June, both below the national average of 5.3 per cent. The simultaneous slowdown came as uncertainty grips the global supply chain and... https://www.scmp.com/economy/economic-indicators/article/3320304/guangzhou-and-shenzhen-once-chinas-growth-engines-report-gdp-underperformance?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3320304/guangzhou-and-shenzhen-once-chinas-growth-engines-report-gdp-underperformance?utm_source=rss_feed Fri, 01 Aug 2025 00:00:15 +0000 Bloomberg Bloomberg China’s factory activity unexpectedly deteriorated in July to a six-month low despite a tariff truce with the US, as early signs emerge that exports are slowing and weak domestic demand persists. The official manufacturing purchasing managers’ index was 49.3, versus 49.7 in June, the National Bureau of Statistics (NBS) said on Thursday. The median estimate of economists surveyed by Bloomberg was 49.7. A reading below 50 indicates contraction. The non-manufacturing measure of activity in... https://www.scmp.com/economy/china-economy/article/3320211/chinas-factory-activity-unexpectedly-worsens-exports-stumble?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3320211/chinas-factory-activity-unexpectedly-worsens-exports-stumble?utm_source=rss_feed Thu, 31 Jul 2025 02:32:22 +0000 Xinyi Wu Xinyi Wu The International Monetary Fund (IMF) has substantially raised its growth forecast for China this year, while also slightly revising up global estimates, as China diversifies its export partners and trade tensions between the world’s two largest economies de-escalate. The IMF now projects that China’s economy will expand by 4.8 per cent in 2025, up 0.8 percentage point from its previous forecast in April, according to its World Economic Outlook report released on Tuesday. The upwards revision... https://www.scmp.com/economy/economic-indicators/article/3320138/imf-raises-chinas-gdp-outlook-more-any-other-economy-after-strong-first-half-data?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3320138/imf-raises-chinas-gdp-outlook-more-any-other-economy-after-strong-first-half-data?utm_source=rss_feed Wed, 30 Jul 2025 09:30:08 +0000 Xinyi Wu Xinyi Wu China’s most dynamic local economies are no longer metropolises like Beijing and Shanghai, but lesser-known cities including Hangzhou and Hefei, according to a new report by the Economist Intelligence Unit. The findings reflect a growing shift in China’s economic landscape, as smaller cities emerge as a main engine of growth due to their strength in advanced manufacturing, clean energy and other emerging sectors. The annual report by the EIU ranks Chinese cities in terms of their growth... https://www.scmp.com/economy/china-economy/article/3319997/what-are-chinas-most-dynamic-cities-new-report-gives-surprising-answer?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3319997/what-are-chinas-most-dynamic-cities-new-report-gives-surprising-answer?utm_source=rss_feed Tue, 29 Jul 2025 23:30:07 +0000 Sylvia Ma,Ji Siqi Sylvia Ma,Ji Siqi China’s economy expanded by 5.2 per cent in the second quarter, keeping it broadly on track to meet this year’s growth target, but analysts cautioned that weak domestic demand and rising external uncertainties could provoke a slowdown in the second half of 2025. The closely watched gross domestic product (GDP) figures, released by the National Bureau of Statistics (NBS) on Tuesday, came in above the 5.17 per cent forecast by a poll of economists from the Chinese financial data provider Wind. The... https://www.scmp.com/economy/china-economy/article/3318214/chinas-economy-grows-52-second-quarter-us-trade-truce-offers-boost?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3318214/chinas-economy-grows-52-second-quarter-us-trade-truce-offers-boost?utm_source=rss_feed Tue, 15 Jul 2025 02:00:13 +0000 Carol Yang,Ji Siqi Carol Yang,Ji Siqi China’s exports recorded a larger-than-expected acceleration in June, as companies took advantage of a 90-day tariff truce with the United States to speed up their shipments. The world’s top merchandise exporter saw its outbound shipments rise by 5.8 per cent year on year to reach US$325.2 billion last month, according to customs data released on Monday. The figure follows a reported 4.8 per cent rise in May and eclipses the 3.6 per cent increase forecast in a market survey from Chinese... https://www.scmp.com/economy/economic-indicators/article/3318080/chinas-exports-accelerate-june-us-trade-truce-creates-opening?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3318080/chinas-exports-accelerate-june-us-trade-truce-creates-opening?utm_source=rss_feed Mon, 14 Jul 2025 03:09:03 +0000 Mia Nulimaimaiti Mia Nulimaimaiti Major Chinese cities have reported a surge in purchases of tax-refundable goods by foreign tourists in recent months, as new duty-free rules designed to boost tourism spending begin to pay off. China has introduced a string of measures to make it easier for international tourists to buy goods duty-free in recent months, with visitors now often able to claim sales tax refunds immediately in stores rather than having to queue at the airport. The scheme is part of China’s broader drive to attract... https://www.scmp.com/economy/china-economy/article/3317706/china-sees-surge-sales-duty-free-goods-amid-inbound-tourism-boom?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3317706/china-sees-surge-sales-duty-free-goods-amid-inbound-tourism-boom?utm_source=rss_feed Thu, 10 Jul 2025 08:46:51 +0000 Sylvia Ma Sylvia Ma China’s consumer prices rose for the first time in five months in June, but the modest gain still pointed to persistent weak demand in the world’s second-largest economy amid an unprecedented trade war with the United States. The national consumer price index (CPI), a key gauge of inflation, rose 0.1 per cent year on year last month, according to data released by the National Bureau of Statistics on Wednesday. The reading came in above a forecast of a 0.03 per cent drop provided by the financial... https://www.scmp.com/economy/china-economy/article/3317472/chinas-consumer-prices-rise-june-deflation-worries-persist?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3317472/chinas-consumer-prices-rise-june-deflation-worries-persist?utm_source=rss_feed Wed, 09 Jul 2025 01:34:01 +0000 Xiaofei Xu Xiaofei Xu Hopes for a long-awaited recovery of factory activity in Europe’s manufacturing powerhouse were uplifted this week as a key indicator of the sector’s health surged to a 34-month high in Germany. But the fact that the country’s manufacturing purchasing managers’ index for June still remained at 49.0 – when a reading below 50 suggests a contraction in the sector – underscores the uphill challenge that Germany is facing in trying to regain growth and past glory in its manufacturing activities. The... https://www.scmp.com/economy/global-economy/article/3316955/china-eu-eye-warmer-ties-brussels-seeks-protect-its-crown-jewel-manufacturing?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3316955/china-eu-eye-warmer-ties-brussels-seeks-protect-its-crown-jewel-manufacturing?utm_source=rss_feed Fri, 04 Jul 2025 08:00:57 +0000 Ralph Jennings Ralph Jennings Factory activity in China edged upwards in June but stayed in contractionary territory for a third straight month, as the country battles soft demand and the effects of a trade war with the United States. China’s official purchasing managers’ index (PMI) – a gauge of manufacturing activity – rose to 49.7 in June from 49.5 in May and 49.0 in April, the National Bureau of Statistics announced on Monday. Scores above 50 indicate growth in manufacturing while readings under 50 suggest a... https://www.scmp.com/economy/china-economy/article/3316321/chinas-factory-activity-rebounds-june-us-trade-tensions-ease?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3316321/chinas-factory-activity-rebounds-june-us-trade-tensions-ease?utm_source=rss_feed Mon, 30 Jun 2025 03:36:22 +0000 Ralph Jennings Ralph Jennings China’s industrial profits fell by more than 9 per cent in May over the same month of 2024, according to data released on Friday, reflecting what analysts said was weak domestic demand for minerals and motor vehicles, coupled with ramifications of the US-China tariff dispute. The National Bureau of Statistics said profits for industrial companies making more than 20 million yuan a year in revenue dropped in May by 9.1 per cent, year on year. Industrial profits fell 9.7 per cent in May over... https://www.scmp.com/economy/economic-indicators/article/3316125/china-industrial-profits-sink-9-may-weak-demand-us-trade-dispute?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3316125/china-industrial-profits-sink-9-may-weak-demand-us-trade-dispute?utm_source=rss_feed Fri, 27 Jun 2025 09:51:45 +0000 June Xia June Xia China’s youth unemployment rate fell for the third consecutive month in May, but remained higher than at the same point last year, suggesting the job market is still under intense pressure ahead of a critical graduation season. The youth jobless rate, which covers those aged 16 to 24 living in urban areas, excluding students, stood at 14.9 per cent last month, down from 15.8 per cent the previous month, according to data released by the National Bureau of Statistics (NBS) on Wednesday. But the... https://www.scmp.com/economy/china-economy/article/3315028/chinas-youth-unemployment-stays-stubbornly-high-ahead-crunch-summer?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3315028/chinas-youth-unemployment-stays-stubbornly-high-ahead-crunch-summer?utm_source=rss_feed Thu, 19 Jun 2025 06:00:15 +0000 Luna Sun Luna Sun China’s export growth slowed last month, weighed down by fewer US orders being made before the two countries came to a 90-day tariff truce. And while June’s prospects look poised to improve, China’s manufacturing and trade sectors remain under strain, according to economists, who also point to lingering uncertainties over American tariffs. China’s May exports were up by 4.8 per cent, year on year, to US$316.1 billion, customs data showed on Monday. The figure followed April’s 8.1 per cent growth... https://www.scmp.com/economy/global-economy/article/3313592/china-trade-data-may-misses-expectations-export-growth-slows-imports-dip?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3313592/china-trade-data-may-misses-expectations-export-growth-slows-imports-dip?utm_source=rss_feed Mon, 09 Jun 2025 03:16:17 +0000 Sylvia Ma,Leopold Chen Sylvia Ma,Leopold Chen China’s consumer prices declined for a fourth straight month in May, highlighting persistent deflationary pressures driven by sluggish demand and trade tensions with the United States, which are compounding inventory strains for manufacturers. The national consumer price index (CPI), a key gauge of inflation, fell 0.1 per cent year on year last month, according to data released by the National Bureau of Statistics on Monday. The figure beat market expectations after a poll by financial provider... https://www.scmp.com/economy/china-economy/article/3313581/chinas-consumer-prices-fall-fourth-month-may-amid-weak-demand-trade-tensions?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3313581/chinas-consumer-prices-fall-fourth-month-may-amid-weak-demand-trade-tensions?utm_source=rss_feed Mon, 09 Jun 2025 02:06:33 +0000 Leopold Chen Leopold Chen China’s large industrial enterprises posted modest but accelerating growth in April, despite an unprecedented trade war with the United States that drove up tariffs on both sides and intensified economic uncertainty. Industrial profits among larger firms, with an annual income of 20 million yuan ($US2.78 million) or above generated from their main businesses, recorded a 3 per cent year-on-year increase last month, the National Bureau of Statistics (NBS) announced on Tuesday, up from 2.6 per cent... https://www.scmp.com/economy/china-economy/article/3311925/chinas-industrial-profits-grow-april-despite-us-trade-war?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3311925/chinas-industrial-profits-grow-april-despite-us-trade-war?utm_source=rss_feed Tue, 27 May 2025 06:00:14 +0000 Luna Sun Luna Sun A former senior economic planner has called for China’s annual growth target to be lowered for the next five years, factoring in the likelihood of a protracted rivalry with the United States and the need to solve deep-rooted structural problems in China. Xu Lin, who helped draft Beijing’s five-year plan for decades while an official at the National Development and Reform Commission, made the comments as the world’s second-largest economy is increasingly relying on economic planning for continued... https://www.scmp.com/economy/china-economy/article/3311765/china-should-mull-4-gdp-target-focus-jobs-debts-next-5-years-former-official?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3311765/china-should-mull-4-gdp-target-focus-jobs-debts-next-5-years-former-official?utm_source=rss_feed Mon, 26 May 2025 02:12:17 +0000 Leopold Chen Leopold Chen China’s youth unemployment rate eased in April as the nation braces for a crunch job-hunting season that will see a record number of fresh graduates enter the recruitment market. The urban jobless rate among those aged 16 to 24 – excluding students – fell to 15.8 per cent last month, down from 16.5 per cent in March, according to data released by the National Bureau of Statistics on Tuesday. That is the lowest youth unemployment rate China has recorded so far this year, with the metric peaking... https://www.scmp.com/economy/china-economy/article/3311152/chinas-youth-unemployment-rate-falls-ahead-crunch-graduation-season?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3311152/chinas-youth-unemployment-rate-falls-ahead-crunch-graduation-season?utm_source=rss_feed Wed, 21 May 2025 02:36:10 +0000 Sylvia Ma Sylvia Ma China slashed a key reference rate for mortgage loans by 10 basis points on Tuesday amid efforts to stabilise the property market, but analysts said the moderate cut was still insufficient to revive a sector mired in a downturn. The five-year loan prime rate (LPR), which commercial banks use as a benchmark for their mortgage rates, was lowered from 3.6 per cent to 3.5 per cent, according to the People’s Bank of China. The one-year loan prime rate, the reference rate for corporate loans, was also... https://www.scmp.com/economy/china-economy/article/3311030/china-cuts-key-mortgage-rate-spur-property-market-rebound-sight?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3311030/china-cuts-key-mortgage-rate-spur-property-market-rebound-sight?utm_source=rss_feed Tue, 20 May 2025 09:00:12 +0000 Mia Nulimaimaiti Mia Nulimaimaiti US tariffs have begun to take a visible toll on China’s export activity, according to new economic data from multiple sources. Weekly container bookings from China to the United States in the week of April 21 have plummeted 48.6 per cent year on year to 90,831 TEU, according to latest data from supply chain intelligence firm Vizion, which marks a slight improvement from the previous low of 81,239 after slumping for three consecutive weeks. The decline “highlights the severity of the market’s... https://www.scmp.com/economy/china-economy/article/3308670/trumps-trade-war-starts-bite-chinas-cargo-shipments-slump?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3308670/trumps-trade-war-starts-bite-chinas-cargo-shipments-slump?utm_source=rss_feed Thu, 01 May 2025 14:00:08 +0000 China’s economy beat expectations to expand by 5.4 per cent in the first quarter, keeping it broadly on track to meet this year’s official target even as uncertainty remains high over how the economy will fare amid an unprecedented trade war with the United States. The closely watched gross domestic product (GDP) figures, released by the National Bureau of Statistics (NBS) on Wednesday, came in above the 5.16 per cent forecast by economists polled by Chinese financial data provider Wind. The... https://www.scmp.com/economy/economic-indicators/article/3306696/chinas-economy-grows-54-first-quarter-ahead-full-blown-us-trade-war?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3306696/chinas-economy-grows-54-first-quarter-ahead-full-blown-us-trade-war?utm_source=rss_feed Wed, 16 Apr 2025 02:00:23 +0000 Each spring, China’s policymakers and state media customarily toss around an idiom to bid the economy an auspicious start: kai men hong – literally, “open door red”. It is an expression commonly used when a new restaurant or shop opens, as it conveys an enthusiastic desire for a prosperous beginning. But in tough economic times, when prosperity takes a back seat to lethargy, by the time summer rolls around and temperatures rise, momentum has a tendency to fizzle. Some years, enthusiasm downright... https://www.scmp.com/economy/china-economy/article/3306478/open-door-red-summer-blue-will-second-quarter-slam-chinas-gdp-again?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3306478/open-door-red-summer-blue-will-second-quarter-slam-chinas-gdp-again?utm_source=rss_feed Mon, 14 Apr 2025 22:00:12 +0000 China’s massive export machine could be looking at its “final hurrah” in March, analysts said, as shipments surged in advance of tariff increases from the United States as well as countermeasures Beijing pledged to “strictly enforce”. Outbound merchandise shipments rose by 12.4 per cent from a year earlier to US$313.9 billion, compared to the 2.3 per cent growth recorded for January and February and the 3.53 per cent rise forecast in a poll from financial data provider Wind. “But shipments are... https://www.scmp.com/economy/economic-indicators/article/3306385/chinas-exports-124-march-calm-tariff-storm?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3306385/chinas-exports-124-march-calm-tariff-storm?utm_source=rss_feed Mon, 14 Apr 2025 03:06:25 +0000 As a wave of tariff hikes from US President Donald Trump washes on China’s shores – with a combined 125 per cent in import duties placed on all Chinese goods – Beijing has reported a drop in consumer prices while many exporters look inward to find new sources of revenue. The national consumer price index (CPI), a key gauge of inflation, fell 0.1 per cent year on year last month, according to data released by the National Bureau of Statistics on Thursday. That was a slightly smaller drop than the... https://www.scmp.com/economy/economic-indicators/article/3305914/chinas-consumer-prices-fall-march-trade-war-reaches-fever-pitch?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3305914/chinas-consumer-prices-fall-march-trade-war-reaches-fever-pitch?utm_source=rss_feed Thu, 10 Apr 2025 01:35:43 +0000 China has launched a series of policies aimed at boosting domestic consumption in recent months as officials look to shore up the economy amid an intensifying trade war with the United States. This miniseries examines whether those efforts are paying off, with the second story exploring China’s moves to ease credit restrictions. The first story can be read here. Eric Liu, who works a white-collar job in Shanghai, is no stranger to consumer loans. The 30-year-old is currently paying in... https://www.scmp.com/economy/china-economy/article/3305526/why-china-struggling-convince-consumers-borrow-im-not-attracted?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3305526/why-china-struggling-convince-consumers-borrow-im-not-attracted?utm_source=rss_feed Tue, 08 Apr 2025 04:00:10 +0000 China has launched a series of policies aimed at boosting domestic consumption in recent months as officials look to shore up the economy amid an intensifying trade war with the United States. This miniseries examines whether those efforts are paying off, with the first story offering an overview of consumer sentiment in China this year. Linda Wang, a 45-year-old corporate manager in Shanghai, had to take drastic measures to curtail her spending last year, effectively banning herself from... https://www.scmp.com/economy/china-economy/article/3305099/chinas-consumers-are-finally-starting-spend-again-will-it-last?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3305099/chinas-consumers-are-finally-starting-spend-again-will-it-last?utm_source=rss_feed Mon, 07 Apr 2025 02:00:08 +0000 China may be making waves in a slew of emerging industries – from robotics to electric cars – but an official Chinese research body has placed the country only 10th in its latest global innovation league table. The report, released on Monday by the Academy of Science and Technology for Development (CASTED), evaluated the innovation capabilities of 40 countries that collectively account for over 85 per cent of the world’s gross domestic product. China has risen up the rankings faster than any... https://www.scmp.com/economy/china-economy/article/3304716/china-ranks-itself-10th-new-global-innovation-league-table?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3304716/china-ranks-itself-10th-new-global-innovation-league-table?utm_source=rss_feed Tue, 01 Apr 2025 07:08:51 +0000 China’s factory activity expanded at its fastest pace in four months in March, buoyed by stronger demand and robust export orders, a private-sector survey showed on Tuesday, though an escalating trade war with the United States clouds the outlook. The Caixin/S&P Global manufacturing PMI climbed to 51.2 in March from 50.8 in the previous month, surpassing analyst expectations of 51.1. The 50-mark separates growth from contraction. The rebound broadly aligned with the official PMI, which was... https://www.scmp.com/economy/economic-indicators/article/3304678/chinas-factory-activity-speeds-export-boost-caixin-pmi-shows?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3304678/chinas-factory-activity-speeds-export-boost-caixin-pmi-shows?utm_source=rss_feed Tue, 01 Apr 2025 04:21:50 +0000 China’s factory activity hit a 12-month high in March, as the country ramped up measures to boost the economy in the face of an escalating tariff war with the United States. The official manufacturing purchasing managers’ index (PMI) – an indicator of factory activity – rose from 50.2 in February to 50.5 in March, according to data released by the National Bureau of Statistics (NBS) on Monday. The two months of expansion followed a reading of 49.1 in January, when China celebrated the Lunar New... https://www.scmp.com/economy/china-economy/article/3304522/chinas-factory-activity-accelerates-march-even-us-ramps-tariffs?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3304522/chinas-factory-activity-accelerates-march-even-us-ramps-tariffs?utm_source=rss_feed Mon, 31 Mar 2025 04:09:22 +0000 In a high-profile meeting with representatives of the international business community on Friday, President Xi Jinping took aim at forces seeking to politicise trade while reassuring that “China will remain fertile land for foreign investment for a long time to come”. His meeting was Beijing’s latest salvo in its charm offensive directed at bringing more foreign operations – and economy-driving cash – back to China, and it also represented Beijing’s pushback against external forces weighing on... https://www.scmp.com/economy/china-economy/article/3304208/chinas-xi-meets-international-business-reps-beijing-turns-charm?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3304208/chinas-xi-meets-international-business-reps-beijing-turns-charm?utm_source=rss_feed Fri, 28 Mar 2025 03:28:55 +0000 Profits at China’s industrial firms contracted at the start of 2025, flashing a worrying sign for the economy as higher US tariffs loom. Industrial profits fell 0.3 per cent in the first two months compared to the same period last year, according to data released on Thursday by the National Bureau of Statistics. The decline showed an earnings rebound in December was short-lived. Bloomberg Economics had forecast an increase of 9 per cent year on year in the January-February period. The setback in... https://www.scmp.com/economy/china-economy/article/3304047/chinas-industrial-profits-unexpectedly-fall-ominous-sign-economy?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3304047/chinas-industrial-profits-unexpectedly-fall-ominous-sign-economy?utm_source=rss_feed Thu, 27 Mar 2025 02:55:43 +0000 Morgan Stanley has become the latest organisation to upgrade China’s 2025 economic growth forecast, citing a fast start to the year’s economic activities despite new US tariffs. The revision on Monday, up by 50 basis points to 4.5 per cent, followed similar moves by HSBC and the Organisation for Economic Co-operation and Development (OECD) last week. According to Morgan Stanley’s chief China economist, Robin Xing, the change was made because of a “stronger-than-expected starting point” plus... https://www.scmp.com/economy/china-economy/article/3303604/what-tariffs-another-china-gdp-forecast-rises-fast-start-capital-outlays?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3303604/what-tariffs-another-china-gdp-forecast-rises-fast-start-capital-outlays?utm_source=rss_feed Mon, 24 Mar 2025 08:00:13 +0000 China’s southern tech hub Shenzhen recorded a sharp decline in exports during the first two months of the year, with analysts pointing to rising geopolitical tensions and a high base effect. Exports from enterprises in Shenzhen plunged 16.6 per cent year on year to 367.3 billion yuan (US$50.8 billion) in January and February, according to municipal customs data released on Tuesday – a stark contrast with the 2.3 per cent growth in exports recorded nationwide over that period. The slump was led... https://www.scmp.com/economy/china-economy/article/3303011/chinese-tech-hub-shenzhen-sees-exports-slump-over-16-trade-war-fears-rise?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3303011/chinese-tech-hub-shenzhen-sees-exports-slump-over-16-trade-war-fears-rise?utm_source=rss_feed Wed, 19 Mar 2025 10:00:16 +0000 China has reported a 4 per cent growth in consumption in the first two months of 2025, a modest increase that keeps the pressure on policymakers as China strives to achieve its ambitious annual economic growth target of “around 5 per cent”. The 4 per cent jump in retail sales for January and February, released by the National Bureau of Statistics (NBS) on Monday, was up from the 3.7 per cent growth recorded in December and below the 4.5 per cent forecast by Chinese financial data provider Wind.... https://www.scmp.com/economy/economic-indicators/article/3302608/chinas-2025-starts-rising-retail-sales-consumption-takes-centre-stage?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3302608/chinas-2025-starts-rising-retail-sales-consumption-takes-centre-stage?utm_source=rss_feed Mon, 17 Mar 2025 02:00:45 +0000 Mandy Zuo Mandy Zuo Chinese agricultural scientists are developing new strains of protein-rich corn that can serve as a substitute for soybeans in animal feed, a potential game-changer for China’s drive to reduce its reliance on overseas grain. China has been forced to import soybeans in huge quantities in recent years to fuel its expanding livestock industry, as Chinese consumers adopt an increasingly meat and dairy-heavy diet. Beijing sees the growing dependence on foreign agricultural products as a threat to the... https://www.scmp.com/economy/china-economy/article/3302096/china-develops-new-high-protein-corn-replace-foreign-soybeans?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3302096/china-develops-new-high-protein-corn-replace-foreign-soybeans?utm_source=rss_feed Wed, 12 Mar 2025 23:00:12 +0000 China’s technology hubs of Shenzhen and Hangzhou posted strong population growth in 2024, as the cities bucked the country’s broader demographic decline by attracting a wave of migrants. However, several provinces in central and western China saw their populations shrink amid an intensifying inter-regional talent war driven by the country’s ongoing population crisis. Local governments across China are beginning to release their population data for 2024, with Shenzhen and the eastern province of... https://www.scmp.com/economy/china-economy/article/3301768/chinas-workers-flock-shenzhen-and-hangzhou-talent-war-heats?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3301768/chinas-workers-flock-shenzhen-and-hangzhou-talent-war-heats?utm_source=rss_feed Mon, 10 Mar 2025 08:00:08 +0000 To reverse a worrisome trend of deaths outpacing births in China, central authorities are being urged to look beyond merely trying to convince adults to procreate – the attention, leaders are now being told, should be on educating children. A top political adviser and leading demographer has proposed that China take action to protect fertility from the earliest stages of a person’s development, by making sexual-health education mandatory for school kids amid a demographic crisis that has... https://www.scmp.com/economy/policy/article/3301540/china-its-time-talk-sex-education-urged-children-adults-balk-babies?utm_source=rss_feed https://www.scmp.com/economy/policy/article/3301540/china-its-time-talk-sex-education-urged-children-adults-balk-babies?utm_source=rss_feed Fri, 07 Mar 2025 13:30:08 +0000 China’s export growth slowed in the first two months of 2025 compared to the end of 2024, a slackening observed after a late-year rush to front-load shipments ahead of additional tariffs from the United States that have since been enacted. Exports rose by 2.3 per cent from a year earlier to US$539.94 billion in the combined figures for January and February, according to customs data released on Friday. This represented a significant drop from the 10.7 per cent recorded in December and the 7.1... https://www.scmp.com/economy/economic-indicators/article/3301402/chinas-export-growth-slows-us-tariffs-bite?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3301402/chinas-export-growth-slows-us-tariffs-bite?utm_source=rss_feed Fri, 07 Mar 2025 03:11:09 +0000