https://www.scmp.com/rss/507593/feed en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Mandy Zuo Mandy Zuo As China drafts its 15th five-year plan – the next entry in a line of expansive blueprints that have set the tone for the country’s development over more than seven decades – we examine how these documents inform and reflect high-level policy priorities, what to expect in the coming iteration and why food security is set to remain a cornerstone in Beijing’s push for self-reliance. For more stories in this ongoing series, click here. To view SCMP Plus Factsheets on the 15th five-year plan and... https://www.scmp.com/economy/china-economy/article/3329086/why-chinas-next-5-year-plan-will-double-down-food-security?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3329086/why-chinas-next-5-year-plan-will-double-down-food-security?utm_source=rss_feed Wed, 15 Oct 2025 22:00:09 +0000 Mia Nurmamat,Mandy Zuo Mia Nurmamat,Mandy Zuo China is raising the maximum hiring age for some civil service positions from 35 to 43 amid rampant age discrimination in the job market that has left many older workers complaining of a “curse of 35”. The upper age limit for candidates in next year’s national-level civil service examinations has been increased to 43 for fresh master’s and doctoral graduates, according to a recruitment plan published by China’s central government and affiliated institutions on Tuesday. The age requirement for... https://www.scmp.com/economy/china-economy/article/3329072/china-bids-break-job-market-curse-35-it-raises-civil-service-age-cap?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3329072/china-bids-break-job-market-curse-35-it-raises-civil-service-age-cap?utm_source=rss_feed Wed, 15 Oct 2025 05:03:16 +0000 Luna Sun Luna Sun As China drafts its 15th five-year plan – the next entry in a line of expansive blueprints that have set the tone for the country’s development over more than seven decades – we examine how these documents inform and reflect high-level policy priorities, what to expect in the coming iteration and whether the private sector will receive the level of support entrepreneurs are hoping for. For more stories in this ongoing series, click here. To view SCMP Plus Factsheets on the 15th five-year-plan... https://www.scmp.com/economy/china-economy/article/3328026/china-planning-5-year-honeymoon-its-private-firms-will-they-feel-love?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3328026/china-planning-5-year-honeymoon-its-private-firms-will-they-feel-love?utm_source=rss_feed Mon, 06 Oct 2025 22:00:07 +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 Mandy Zuo Mandy Zuo A local government in China’s provincial economic powerhouse of Zhejiang has announced plans to subsidise the restaurant meals of high-value consumers, in a move that is intended to stimulate consumption but could raise questions about whether it runs contrary to the central government’s austerity drive. Shaoxing – a city known for its textile industry and a prized variety of cooking wine – will offer subsidies of up to 5,000 yuan (US$700) to banquet holders if they host five or more tables and... https://www.scmp.com/economy/china-economy/article/3324200/local-chinese-governments-stimulus-plan-entices-big-spenders-dig-while-dining-out?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3324200/local-chinese-governments-stimulus-plan-entices-big-spenders-dig-while-dining-out?utm_source=rss_feed Thu, 04 Sep 2025 00:00:14 +0000 Xinyi Wu Xinyi Wu When Wang Yuyan first heard about China’s new national child subsidy, she was happy about receiving some extra support. But the new mother’s excitement quickly faded when she realised the money was barely enough to cover the rising cost of baby diapers and milk formula. The Hangzhou resident said the diapers she buys for her 4-month-old had gone up from 143 yuan (US$19.90) to 158 yuan just in the few weeks since the government announced the new policy in July. Overall, Wang now spends nearly... https://www.scmp.com/economy/china-economy/article/3322814/chinas-new-child-subsidy-popular-will-it-actually-raise-birth-rate?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3322814/chinas-new-child-subsidy-popular-will-it-actually-raise-birth-rate?utm_source=rss_feed Sun, 24 Aug 2025 03:00:09 +0000 Alice Li Alice Li Chinese Premier Li Qiang has called for stronger policy support for the biotech industry, as part of efforts to bolster innovation in a sector that has witnessed a boom in recent years. “The biopharmaceutical industry is both a strategic emerging sector and vital to public health,” he said during an inspection in Beijing on Wednesday, as reported by the state-run Xinhua News Agency. “Efforts should be made to strengthen original innovation, address core technological challenges and mobilise... https://www.scmp.com/economy/china-economy/article/3322656/china-vows-stronger-biotech-support-deals-global-pharmaceutical-giants-surge?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3322656/china-vows-stronger-biotech-support-deals-global-pharmaceutical-giants-surge?utm_source=rss_feed Thu, 21 Aug 2025 09:00:09 +0000 Alice Li Alice Li As China’s top leaders enjoy their summer retreat at the northern beach resort of Beihaihe, analysts are poring over the guest list for clues about Beijing’s priorities ahead of October’s crucial plenary meeting to agree on China’s next five-year plan. The list of invitees to the annual gathering, as reported by state media, suggests that China’s leaders are placing a heavy emphasis on science, innovation and entrepreneurship, as they seek to accelerate China’s development and application of... https://www.scmp.com/economy/china-economy/article/3321721/what-does-beidaihe-guest-list-tell-us-about-chinas-economic-priorities?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3321721/what-does-beidaihe-guest-list-tell-us-about-chinas-economic-priorities?utm_source=rss_feed Wed, 13 Aug 2025 15:00:17 +0000 Xinyi Wu Xinyi Wu China will waive tuition fees for children in their final year at public kindergartens from this autumn, as the country intensifies efforts to address its plummeting birth rate. The move, part of a phased plan to make preschool education free, aims to “effectively lower education costs and improve the level of basic public education services”, the State Council, China’s cabinet, said on Tuesday. Children enrolled in approved private kindergartens will also have their tuition fees reduced, with... https://www.scmp.com/economy/china-economy/article/3320954/will-free-year-preschool-entice-parents-procreate-beijing-bids-boost-births?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3320954/will-free-year-preschool-entice-parents-procreate-beijing-bids-boost-births?utm_source=rss_feed Wed, 06 Aug 2025 10:00:22 +0000 Ji Siqi Ji Siqi This is the first story in a three-part series exploring the domestic economic challenges China faces as it navigates an unprecedented trade war with the United States. In this piece, we explore Beijing’s drive to rein in wasteful government spending – and its unintended consequences. Wang, a civil servant from a small town in northeastern China, is too scared to go to restaurants these days. He even skipped his niece’s wedding due to his fear of being seen at a banquet. An avid foodie, the... https://www.scmp.com/economy/china-economy/article/3317362/china-told-its-officials-tighten-their-belts-did-they-go-notch-too-far?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3317362/china-told-its-officials-tighten-their-belts-did-they-go-notch-too-far?utm_source=rss_feed Tue, 08 Jul 2025 22:00:17 +0000 June Xia June Xia She seldom visits the same suburban cafe twice. Asa Jin has her cuppa, takes in the view, snaps her share of pictures for social, and then considers which among the rising number of coffee shops she will visit next. “Most rural cafes are leaning into a trendy, influencer-driven vibe, but it’s not sustainable,” said the 37-year-old freelancer from Hangzhou, Zhejiang province, explaining that many shops try to lure customers with “unique natural settings” – perfect for coffee-sipping social media... https://www.scmp.com/economy/china-economy/article/3316395/chinas-coffee-lovers-skip-urban-grind-rural-buzz-cafe-craze-sustainable?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3316395/chinas-coffee-lovers-skip-urban-grind-rural-buzz-cafe-craze-sustainable?utm_source=rss_feed Tue, 01 Jul 2025 00:00:11 +0000 June Xia June Xia Big city lights? Too dull, say bright-eyed Chinese travellers who prefer to dream of far-flung locales – areas more likely to drain their life alongside their bank account. And oh, what a thrill. Chinese tourists eyeing overseas excursions are increasingly turning their gaze to remote areas – generally away from urban settings and run-of-the-mill tourist destinations that comprise the photo posts of more traditional travellers, and towards off-the-beaten-path locations that, in many cases, wowed... https://www.scmp.com/economy/china-economy/article/3315249/chinas-thrill-seekers-splash-out-adventure-tourism-social-media-lures-them-grid?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3315249/chinas-thrill-seekers-splash-out-adventure-tourism-social-media-lures-them-grid?utm_source=rss_feed Sun, 22 Jun 2025 03:00:11 +0000 Mandy Zuo Mandy Zuo Subsidising men’s participation in household chores and childcare could help reverse declining global birth rates, according to a new study, offering a fresh approach to deepening demographic challenges in countries like China. The study, co-authored by researchers from Fudan University and the University of Hong Kong (HKU), argued that subsidies for fathers produce significantly higher long-term fertility gains than solely subsidising mothers. The findings came as the world’s second-largest... https://www.scmp.com/economy/china-economy/article/3313355/chinas-demographic-crisis-could-ease-male-childcare-subsidies-new-research-suggests?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3313355/chinas-demographic-crisis-could-ease-male-childcare-subsidies-new-research-suggests?utm_source=rss_feed Sun, 08 Jun 2025 03:00:15 +0000 Alice Li Alice Li With e-commerce platforms gearing up for one of China’s biggest shopping festivals of the year, some local governments have suddenly paused subsidies offered for certain goods through a national trade-in programme, upending expectations that the offerings would continue all year. As of Thursday, consumers in Guangzhou, the capital of the southern provincial powerhouse of Guangdong, found that they could no longer claim vouchers for home-remodelling products such as doors, ceramic tiles and... https://www.scmp.com/economy/china-economy/article/3313217/local-governments-halt-some-subsidies-purchases-ahead-chinas-618-shopping-festival?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3313217/local-governments-halt-some-subsidies-purchases-ahead-chinas-618-shopping-festival?utm_source=rss_feed Fri, 06 Jun 2025 00:00:18 +0000 Luna Sun Luna Sun Even a master’s degree from a top Hong Kong university and a string of impressive internships have not been enough to help Jethro Chen land a decent graduate job. The final-year marketing student sent out dozens of applications to Chinese internet and consumer goods companies last year, but got nothing back except a folder full of polite rejection emails. With his attempts to land a marketing internship in Hong Kong also ending in failure, Chen has been forced to push back his graduation from... https://www.scmp.com/economy/china-economy/article/3312261/china-already-had-graduate-jobs-crisis-trade-war-making-it-worse?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3312261/china-already-had-graduate-jobs-crisis-trade-war-making-it-worse?utm_source=rss_feed Thu, 29 May 2025 22:00:13 +0000 Leopold Chen Leopold Chen China’s Xinjiang – an ethnically diverse region that still faces Western sanctions over a slew of human-rights issues – plans to open up to more foreign visitors, as the local government strives to boost tourism and diversify the regional economy. The Xinjiang Uygur autonomous region, which stretches over a vast tract of land in western China, has become a hugely popular destination among domestic tourists in recent years, receiving a record 302 million visits last year. Now, local officials... https://www.scmp.com/economy/china-economy/article/3311842/chinas-xinjiang-plans-open-more-tourists-including-foreigners?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3311842/chinas-xinjiang-plans-open-more-tourists-including-foreigners?utm_source=rss_feed Tue, 27 May 2025 01:00:08 +0000 Alice Li Alice Li China’s Communist Party mouthpiece has run an editorial arguing that regulators must act decisively to prevent the spread of vicious “neijuan-style” competition in the economy, as a frenzied battle for control of the country’s vast food delivery sector stirs controversy. Chinese authorities have repeatedly vowed to clamp down on neijuan – a term referring to a self-defeating cycle of excessive competition – in recent months, as businesses in a slew of industries launch intense price wars to win... https://www.scmp.com/economy/china-economy/article/3311794/chinas-regulators-must-act-quickly-stamp-out-price-wars-peoples-daily?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3311794/chinas-regulators-must-act-quickly-stamp-out-price-wars-peoples-daily?utm_source=rss_feed Mon, 26 May 2025 07:00:09 +0000 Luna Sun Luna Sun For many young people in China, the government’s call to prepare for retirement decades in advance feels out of touch with reality. With rising job uncertainty amid a slowing economy, stagnant wages and mounting pressures around housing and marriage, most young employees interviewed by the Post said they were too preoccupied with present circumstances to think about old age – and that retirement was simply too distant to prioritise in a rapidly changing world. “There’s no point constantly... https://www.scmp.com/economy/china-economy/article/3311564/young-chinese-put-retirement-plans-hold-amid-slowing-economy-demographic-crisis?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3311564/young-chinese-put-retirement-plans-hold-amid-slowing-economy-demographic-crisis?utm_source=rss_feed Sat, 24 May 2025 06:00:13 +0000 As China’s youth express reluctance to have children, and those with one child less than enthusiastic over the prospect of more, one densely populated region in the southern province of Guangdong is bucking the trend – but its reasons for doing so appear difficult or downright impossible to replicate nationwide. In Chaoshan, in the east of the province, ancestral halls dot villages and lineage is fiercely honoured. Chen Jiahui, a 28-year-old from the region, said many of her older cousins have... https://www.scmp.com/economy/china-economy/article/3307453/chinas-birth-rates-drop-has-guangdong-become-countrys-golden-child?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3307453/chinas-birth-rates-drop-has-guangdong-become-countrys-golden-child?utm_source=rss_feed Wed, 23 Apr 2025 01:00:08 +0000 Around 400,000 postdoctoral students have trained in China over the past four decades, with annual enrolment more than tripling in 12 years amid an intensifying global talent race, according to latest figures from the Chinese government. With over 8,800 postdoctoral research- and workstations across the country, the number of new recruits reached a record 42,000 last year, the Ministry of Human Resources and Social Security said on Wednesday. That represents a more than threefold surge compared... https://www.scmp.com/economy/china-economy/article/3306950/chinas-post-phd-students-hit-record-levels-global-talent-race-heats?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3306950/chinas-post-phd-students-hit-record-levels-global-talent-race-heats?utm_source=rss_feed Thu, 17 Apr 2025 12:30:12 +0000 Enough is enough. I have reached saturation point with the uncountable words written recently on tariffs, most not worth the space they are printed on. I am weary of Tyrannosaurus Trump and his flat-earth efforts to explain or justify a clearly stupid global tariff regime, and of the thousands of commentators and analysts speculating forlornly on the implications of the unexplainable and unknowable. All we need to know is first, that the plan is nonsensical and likely unworkable; and second,... https://www.scmp.com/opinion/china-opinion/article/3306018/cities-power-growth-china-has-more-megacities-anyone-else?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3306018/cities-power-growth-china-has-more-megacities-anyone-else?utm_source=rss_feed Fri, 11 Apr 2025 21:30:07 +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 further solidified its decade-long social credit initiative by unveiling 23 new guidelines, including plans for government and enterprise credit ratings, along with rewards and punishments. The document, issued by the State Council on Monday, is designed to create a “fair and orderly competitive market environment”, building on the social credit system first outlined in 2014. Compared with traditional financial creditworthiness, the concept of social credit encompasses a much broader... https://www.scmp.com/economy/article/3304748/chinas-complex-social-credit-system-evolves-23-new-guidelines-beijing?utm_source=rss_feed https://www.scmp.com/economy/article/3304748/chinas-complex-social-credit-system-evolves-23-new-guidelines-beijing?utm_source=rss_feed Tue, 01 Apr 2025 09:12:42 +0000 China should step up the reform of its pension system by improving its sustainability, balancing its funding sources and narrowing gaps in benefits for people from different regions and sectors, former banking officials urged during the Boao Forum for Asia. In 2024, the average monthly basic pension payment for urban and rural residents was about 240 yuan (US$33), “far from enough to cover basic living expenses” according to Guo Shuqing, former chairman of the China Banking and Insurance... https://www.scmp.com/economy/policy/article/3304122/former-officials-call-parity-reform-chinas-pension-system?utm_source=rss_feed https://www.scmp.com/economy/policy/article/3304122/former-officials-call-parity-reform-chinas-pension-system?utm_source=rss_feed Thu, 27 Mar 2025 09:30:08 +0000 When Tang Tang, a mother from Tianmen in central China, gave birth to her second child in December, it brought her family untold joy – and a thick wad of cash. Within months of leaving hospital, the local government paid Tang a 6,500-yuan (US$897) reward for having two children as part of a new birth subsidy scheme introduced last year. She will also receive an 800-yuan allowance every month until her new baby turns three. For a family in Tianmen, where income levels are far lower than in... https://www.scmp.com/economy/china-economy/article/3303756/why-china-betting-birth-subsidies-solve-its-population-crisis?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3303756/why-china-betting-birth-subsidies-solve-its-population-crisis?utm_source=rss_feed Tue, 25 Mar 2025 22:00:09 +0000 As a growing trade surplus highlights the need for China to boost its domestic demand, scholars at a Peking University seminar suggested enhancing the country’s social safety net and increasing investment in public service to build a foundation for higher consumption. Beijing has unveiled several initiatives to encourage demand, including a 30-point plan published on Sunday, to counteract tariffs and export restrictions levied by the US to correct the surplus its president and other officials... https://www.scmp.com/economy/policy/article/3302690/chinese-economists-call-wider-social-safety-net-nurture-consumption?utm_source=rss_feed https://www.scmp.com/economy/policy/article/3302690/chinese-economists-call-wider-social-safety-net-nurture-consumption?utm_source=rss_feed Tue, 18 Mar 2025 00:00:13 +0000 The top organs of the Chinese government and the ruling Communist Party jointly released a 30-point plan to boost domestic consumption on Sunday. The strategy, which analysts have described as Beijing’s most comprehensive policy to stimulate consumption since the 1970s, tackles a broad range of issues that will need to be addressed if China is to shift its economy onto a consumption-driven growth model. Below we offer a closer look at the key measures listed in the plan. Which measures are... https://www.scmp.com/economy/china-economy/article/3302718/what-actually-chinas-new-plan-boost-consumer-spending?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3302718/what-actually-chinas-new-plan-boost-consumer-spending?utm_source=rss_feed Mon, 17 Mar 2025 13:30:08 +0000 China’s newly announced consumption action plan is the most comprehensive package of policies for boosting consumer spending that the country has released in over four decades, analysts said. From increasing workers’ incomes to improving the consumption environment, the policy strategy released on Sunday covers a slew of underlying issues that will need to be addressed if China is to shift its economy onto a consumption-driven growth model. The 30-point plan, jointly released by top organs of... https://www.scmp.com/economy/china-economy/article/3302645/chinas-latest-plan-boost-consumption-most-comprehensive-1970s?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3302645/chinas-latest-plan-boost-consumption-most-comprehensive-1970s?utm_source=rss_feed Mon, 17 Mar 2025 06:04:44 +0000 As China’s political elite gather for the country’s annual legislative sessions in March, we examine the broader forces likely to influence policies for the coming year – and how decision-makers will respond to the unpredictable second term of US President Donald Trump. In the sixth part of a series, Frank Chen reports on China’s first privately owned high-speed railways and how they reflect the wider challenges facing the private sector. When the first bullet train roared along a new high-speed... https://www.scmp.com/economy/china-economy/article/3301338/two-sessions-2025-how-can-china-get-its-private-sector-back-track?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3301338/two-sessions-2025-how-can-china-get-its-private-sector-back-track?utm_source=rss_feed Fri, 07 Mar 2025 06:02:46 +0000 As rapidly evolving artificial intelligence (AI) technologies reshape the workforce and increasingly displace menial jobs, China should establish dedicated insurance to protect those at risk of unemployment due to AI, an entrepreneur suggested in the lead-up to Beijing’s agenda-setting parliamentary meetings. “China should pilot a special AI-unemployment insurance programme, adopting a government-led, commercially operated model,” said Liu Qingfeng, a National People’s Congress representative... https://www.scmp.com/economy/china-economy/article/3301016/ai-disrupts-china-jobs-could-dedicated-insurance-fund-protect-workers?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3301016/ai-disrupts-china-jobs-could-dedicated-insurance-fund-protect-workers?utm_source=rss_feed Tue, 04 Mar 2025 11:30:08 +0000 Proposals to provide families with access to free preschool education appear to be gaining political momentum in China, as the country intensifies its efforts to convince couples to have more children by creating a “birth-friendly society”. The idea was formally proposed by a deputy to the National People’s Congress (NPC) ahead of the annual meeting of China’s top legislature this week. The proposal – which involves expanding free public education in China from the current nine years to 12... https://www.scmp.com/economy/china-economy/article/3300846/bold-new-proposal-solving-chinas-birth-crisis-free-kindergarten?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3300846/bold-new-proposal-solving-chinas-birth-crisis-free-kindergarten?utm_source=rss_feed Mon, 03 Mar 2025 10:30:08 +0000 China has officially banned urban residents from buying rural homes and barred retired officials from building houses on rural land, as the government pumps the brakes on its recent land reform drive. Beijing outlined the restrictions in its latest “No 1 document” – an annual policy statement on rural affairs released soon after the Lunar New Year – which was unveiled by the official Xinhua News Agency on Sunday. The move signals the government’s intention to proceed cautiously with its land... https://www.scmp.com/economy/china-economy/article/3299911/china-hits-brakes-rural-land-reform-major-policy-release?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3299911/china-hits-brakes-rural-land-reform-major-policy-release?utm_source=rss_feed Mon, 24 Feb 2025 09:30:12 +0000 China has published a new action plan for boosting consumption that focuses on eliminating fraud, shoddy goods and other issues that discourage consumers from spending, as it aims to shore up economic growth amid an intensifying trade war with the United States. The 19-point plan, jointly issued by five government bodies, aims to create a healthier “consumption environment” that will boost confidence and encourage consumers to open their wallets. The authorities pledged to tackle issues ranging... https://www.scmp.com/economy/china-economy/article/3299385/china-issues-new-plan-boost-consumption-creating-healthier-market-environment?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3299385/china-issues-new-plan-boost-consumption-creating-healthier-market-environment?utm_source=rss_feed Thu, 20 Feb 2025 03:31:05 +0000 A number of major Chinese cities have reported worrisome deficits in their government-run health insurance funds, as rising medical costs and a rapidly ageing population put greater strain on the system. As a result, some analysts warn that the trend could become unsustainable in the long run, while significant reforms are needed to restore financial balance. In 2024, Beijing and Tianjin reported big shortfalls in their urban and rural residents’ basic medical insurance (BMI) funds. Beijing’s... https://www.scmp.com/economy/china-economy/article/3298401/chinas-richest-cities-say-medical-costs-are-bleeding-dry-health-insurance-funds?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3298401/chinas-richest-cities-say-medical-costs-are-bleeding-dry-health-insurance-funds?utm_source=rss_feed Wed, 12 Feb 2025 10:00:03 +0000 China’s total lottery sales surpassed 600 billion yuan (US$82 billion) last year for the first time in its 40-year history, according to fresh figures from the Ministry of Finance. Total sales for 2024 hit a record high of 623.5 billion yuan, marking year-on-year growth of 7.6 per cent. The single-digit growth continued the upward momentum over the past three years that has provided a high comparison base. Guizhou province, for example, saw the nation’s largest-ever lottery payout last February,... https://www.scmp.com/economy/china-economy/article/3298082/chinas-lottery-sales-see-biggest-year-ever-games-become-more-fun?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3298082/chinas-lottery-sales-see-biggest-year-ever-games-become-more-fun?utm_source=rss_feed Mon, 10 Feb 2025 10:30:07 +0000 Even for China’s richest man, it was a bold investment. Last month, beverage magnate Zhong Shanshan raised eyebrows when he announced plans to spend 40 billion yuan (US$5.5 billion) over the next decade to set up a private university called Qiantang University. Zhong, the founder of bottled drinks giant Nongfu Spring, said the new institution would have a clear vision: to advance scientific research, drive the application of new technologies and cultivate top-tier talent in strategic fields. His... https://www.scmp.com/economy/china-economy/article/3297788/why-chinas-super-rich-are-spending-billions-set-universities?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3297788/why-chinas-super-rich-are-spending-billions-set-universities?utm_source=rss_feed Sun, 09 Feb 2025 06:00:21 +0000 Crystals – shimmering stones believed to carry “healing powers” and “fortune-boosting energy” – are captivating consumers worldwide. On TikTok, the hashtag #crystal has attracted more than 1.5 million video posts, many of which have hundreds of thousands of likes. Celebrities from Adele to Kim Kardashian have spoken about the supposed healing effects of crystals. The crystal fever has also spread to China, where young consumers are turning to gemstones as a source of psychological comfort as... https://www.scmp.com/economy/china-economy/article/3297792/out-luck-how-global-downturn-took-shine-chinas-crystal-industry?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3297792/out-luck-how-global-downturn-took-shine-chinas-crystal-industry?utm_source=rss_feed Sat, 08 Feb 2025 06:00:16 +0000 Lunar New Year, arguably China’s biggest annual holiday, can be seen as a barometer for the country’s economy. As more than a billion people travel, shop, eat and give gifts to family and friends, their preferences and habits paint a picture of the nation’s consumption over a few festive weeks. This is the last story in a nine-part series. As Chinese celebrate the Lunar New Year – a time steeped in traditions of luck and prosperity – crystals have captured attention for their promise of healing... https://www.scmp.com/economy/china-economy/article/3296597/chinas-crystal-industry-shimmers-little-luxuries-curb-anxiety-quell-economic-unease?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3296597/chinas-crystal-industry-shimmers-little-luxuries-curb-anxiety-quell-economic-unease?utm_source=rss_feed Sat, 01 Feb 2025 02:00:13 +0000 Lunar New Year, arguably China’s biggest annual holiday, can be seen as a barometer for the country’s economy. As more than a billion people travel, shop, eat and give gifts to family and friends, their preferences and habits paint a picture of the nation’s consumption over a few festive weeks. This is the first story in a nine-part series. China’s economic difficulties and mounting external pressures have redefined employees’ bonus expectations this year, with a more pessimistic mood dominating... https://www.scmp.com/economy/china-economy/article/3296183/chinas-viral-year-end-bonus-buzz-takes-more-pessimistic-tone?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3296183/chinas-viral-year-end-bonus-buzz-takes-more-pessimistic-tone?utm_source=rss_feed Sat, 25 Jan 2025 10:00:13 +0000 China should prepare to see its birth numbers tumble again this year, as 2024’s slight uptick is likely to prove just a temporary blip in an inevitable process of long-term population decline, demographers warned. Last year, births in China rose for the first time since 2017, reaching 9.54 million, up from 9.02 million the previous year. Experts attributed the rebound to a rise in marriages in 2023 and the fact that 2024 was the auspicious Year of the Dragon in the Chinese zodiac, with some... https://www.scmp.com/economy/economic-indicators/article/3296164/chinas-birth-figures-likely-tumble-again-2025-demographers-warn?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3296164/chinas-birth-figures-likely-tumble-again-2025-demographers-warn?utm_source=rss_feed Fri, 24 Jan 2025 12:00:09 +0000 Shanghai is poised to up its game in the battle for tourists amid intensified competition in the region, with talks under way for a Harry Potter-themed area. The eastern metropolis plans to remodel an existing theme park, and when the sprawling area reopens in two years, it looks to give Harry Potter fans a chance to play out their “wizarding world” fantasies. A local district government and a state-owned tourism conglomerate in the city are in discussions with US-based Warner Bros, the producer... https://www.scmp.com/economy/china-economy/article/3295995/will-new-harry-potter-park-spell-success-shanghai-it-tries-enchant-tourists?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3295995/will-new-harry-potter-park-spell-success-shanghai-it-tries-enchant-tourists?utm_source=rss_feed Fri, 24 Jan 2025 00:00:13 +0000 As deflationary pressures persist across China amid weak domestic demand and knock-on effects from industrial overcapacity, Beijing appears hard-pressed to lower the national inflation-control target for the first time in four years. The vast majority of Chinese provinces have already slashed their consumer price index (CPI) targets to about 2 per cent for 2025 – markedly down from last year’s norm of 3 per cent. The adjustments came after China’s national CPI grew by a mere 0.2 per cent last... https://www.scmp.com/economy/economic-indicators/article/3295660/deflation-risks-see-most-chinese-provinces-shy-away-legacy-3-cpi-target?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3295660/deflation-risks-see-most-chinese-provinces-shy-away-legacy-3-cpi-target?utm_source=rss_feed Tue, 21 Jan 2025 10:30:08 +0000 Mandy Zuo Mandy Zuo Many Chinese travellers planning to visit Thailand for the upcoming Lunar New Year have expressed concerns on social media this week and posed blunt questions. Is Chiang Mai safe? How can I convince the travel agency to refund expenses if I want to cancel my trip to Thailand? The anxiety has been fuelled by a recent incident involving Chinese actor Wang Xing, who went missing upon arriving in Thailand for work last Friday. Wang, a relatively unknown actor in China until his disappearance went... https://www.scmp.com/economy/global-economy/article/3294093/chinese-cancel-thai-holidays-actor-wang-xings-kidnapping-fuels-safety-fears?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3294093/chinese-cancel-thai-holidays-actor-wang-xings-kidnapping-fuels-safety-fears?utm_source=rss_feed Fri, 10 Jan 2025 01:00:12 +0000 This is the first in a three-part series looking at efforts by Chinese companies to step out of their comfort zone and expand abroad amid mounting domestic competition, and how this has resulted in learning curves, labour scandals and more diverse supply chains. Long working hours, beds without mattresses, a communal lavatory shared by dozens of people – these are often axiomatic elements in the life of a Chinese construction worker. But they are considered unacceptable “slavery-like conditions”... https://www.scmp.com/economy/global-economy/article/3293923/china-ev-giant-byd-hits-skids-brazil-slavery-claims-run-over-labour-force?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3293923/china-ev-giant-byd-hits-skids-brazil-slavery-claims-run-over-labour-force?utm_source=rss_feed Wed, 08 Jan 2025 22:00:18 +0000 In the near future, China’s rapidly ageing population could find that much care in their twilight years comes from humanoid robots, under new top-level policy plans aimed at tackling the nation’s mounting demographic challenges. Authorities intend to boost the research and development of such robots, as well as brain-computer interfaces and artificial intelligence, to support elderly care across the country, the State Council said in a directive issued on Tuesday, making China among the first... https://www.scmp.com/economy/economic-indicators/article/3293883/chinas-calling-humanoid-robots-care-granny-needs-elderly-outpace-workers?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3293883/chinas-calling-humanoid-robots-care-granny-needs-elderly-outpace-workers?utm_source=rss_feed Wed, 08 Jan 2025 08:00:16 +0000 China should strive to improve its unemployment statistics, as these are key to better capturing the country’s economic reality and would go a long way toward better implementing leadership’s job-priority strategy in 2025, a scholar has urged. The suggestion by Zhu Changzheng, co-founder of the privately run Changping Economic Forum, came amid lingering controversy surrounding China’s urban-unemployment metrics, particularly the jobless rate among the youngest class of workers. “The current... https://www.scmp.com/economy/economic-indicators/article/3293766/chinas-controversial-jobless-rate-needs-be-reformed-scholar-urges?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3293766/chinas-controversial-jobless-rate-needs-be-reformed-scholar-urges?utm_source=rss_feed Tue, 07 Jan 2025 22:00:08 +0000 South Koreans are making a beeline for China, especially top urban centres such as Shanghai, as overseas travellers take advantage of China’s visa exemptions. But localities may need to address common complaints to sustain the momentum. Shanghai appears to have become the new darling for Koreans on a weekend getaway to escape work stress and political turmoil at home, as they swarm the city’s glitzy streets and back alleys. Koreans, speaking their language and donning haircuts and outfits... https://www.scmp.com/economy/global-economy/article/3293685/shanghai-draws-s-koreans-droves-chinas-visa-free-entry-entices-travellers?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3293685/shanghai-draws-s-koreans-droves-chinas-visa-free-entry-entices-travellers?utm_source=rss_feed Tue, 07 Jan 2025 03:39:25 +0000 If the top bun of a hamburger were to represent her company’s executives – most being members of Gen X – and the bottom bun represented their Gen Z subordinates, then Grace He would describe her team as being sandwiched in the middle, almost uncomfortably so, but an essential part of the burger. A millennial herself at 37 years old, He is the administrative director at a Guangdong-based advertising firm. And she says it serves, in part, as a necessary role in the modern workplace, by helping to... https://www.scmp.com/economy/china-economy/article/3293308/chinas-gen-z-giving-bosses-headaches-and-rattling-corporate-cage-surveys-find?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3293308/chinas-gen-z-giving-bosses-headaches-and-rattling-corporate-cage-surveys-find?utm_source=rss_feed Mon, 06 Jan 2025 01:00:15 +0000 A middle school in eastern China has been thrust into the centre of a national debate about Chinese society’s “worship” of elite universities, after revealing that nearly all its newly hired teachers had graduated from the same two institutions. Suzhou Middle School, a well-known institution in Jiangsu province, recently announced that it had hired 13 teachers, 10 of whom had attended China’s two most prestigious universities: Tsinghua University and Peking University, according to domestic... https://www.scmp.com/economy/china-economy/article/3293323/degree-worship-china-middle-school-sparks-debate-elitist-hiring-policy?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3293323/degree-worship-china-middle-school-sparks-debate-elitist-hiring-policy?utm_source=rss_feed Sun, 05 Jan 2025 02:00:13 +0000 China will subsidise consumers who purchase new smartphones this year, in the latest attempt to elevate the country’s sluggish domestic consumption as external uncertainties are set to mount. The country’s nationwide consumer trade-in programme, funded by sovereign bonds, will be expanded to personal digital products, including smartphones and tablets, as well as smartwatches and bracelets, its top economic planner announced on Friday. Yuan Da, deputy secretary general of the National... https://www.scmp.com/economy/china-economy/article/3293299/calling-all-smartphone-seekers-china-subsidise-personal-devices-expand-trade-push?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3293299/calling-all-smartphone-seekers-china-subsidise-personal-devices-expand-trade-push?utm_source=rss_feed Fri, 03 Jan 2025 09:30:08 +0000