https://www.scmp.com/rss/510448/feed This topic charts China's economic recovery as it, in 2023, enters an era of slower growth, along with an ageing and shrinking workforce, weak consumer demand and a property market downturn. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Sylvia Ma Sylvia Ma China’s top Communist Party journal has reaffirmed the country’s push to rebalance trade, saying a worsening global environment marked by rising protectionism and geopolitical tensions is adding urgency to its ongoing shift from an “unsustainable” export-driven growth model. “The underlying conditions, and both domestic and external environment shaping China’s trade balance, are undergoing profound changes, while deep-seated weaknesses in the foreign trade sector remain pronounced,” said a... https://www.scmp.com/economy/global-economy/article/3348651/qiushi-reaffirms-chinas-trade-rebalance-push-calls-old-export-led-growth-unsustainable?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3348651/qiushi-reaffirms-chinas-trade-rebalance-push-calls-old-export-led-growth-unsustainable?utm_source=rss_feed Wed, 01 Apr 2026 12:00:08 +0000 Dewey Sim Dewey Sim The US-Israel war on Iran has crippled exports of fertiliser from the Persian Gulf, raising the spectre of higher food prices if the conflict drags on. The disruption could hand China – the world’s largest fertiliser producer – greater political leverage over countries already locked in disputes with Beijing, though it is unlikely to weaponise exports, according to analysts. Global fertiliser prices have soared since Iran effectively blocked shipping through the Strait of Hormuz, through which... https://www.scmp.com/news/china/diplomacy/article/3348573/why-spike-fertiliser-prices-could-boost-chinas-political-clout?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3348573/why-spike-fertiliser-prices-could-boost-chinas-political-clout?utm_source=rss_feed Tue, 31 Mar 2026 14:00:08 +0000 Ralph Jennings Ralph Jennings Flight bookings in China have grown 20 per cent year on year ahead of the annual Ching Ming Festival holiday that starts this weekend and follows public school breaks in much of the country – despite higher airfares on account of rising fuel prices. Holiday bookings had reached 2.04 million flight tickets as of Thursday, state broadcaster CCTV said, citing figures from data provider TravelSky Technology. CCTV’s Sunday report said cross-border holiday flight bookings inbound and outbound stood at... https://www.scmp.com/economy/china-economy/article/3348367/chinese-flight-bookings-rise-20-ahead-april-holiday-break-despite-soaring-airfares?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3348367/chinese-flight-bookings-rise-20-ahead-april-holiday-break-despite-soaring-airfares?utm_source=rss_feed Tue, 31 Mar 2026 02:00:13 +0000 Daniel Ren Daniel Ren Transactions of pre-owned homes in major Chinese cities led by Shanghai surged in March, fuelling expectations that the country’s embattled property sector may be stabilising. Analysts and brokers said a more active resale market pointed to a gradual return of confidence among homebuyers after a three-year downturn. In Shanghai, about 22,000 second-hand homes changed hands between March 1 and 23, up 170 per cent from the same period a month earlier, according to data from local financial outlet... https://www.scmp.com/business/banking-finance/article/3348255/rising-second-hand-home-sales-offer-tentative-signs-floor-chinas-property-slump?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3348255/rising-second-hand-home-sales-offer-tentative-signs-floor-chinas-property-slump?utm_source=rss_feed Sun, 29 Mar 2026 06:00:34 +0000 Zhu Wenqian Zhu Wenqian China’s luxury hotel sector has unlocked new avenues for business growth, fuelled by a boom in inbound tourism and a growing number of foreign business travellers and holidaymakers who favour high-end accommodation. International tourists generally spend more than domestic ones, except for wealthy Chinese travellers. Most visa-free visitors to China are from developed countries with much higher living costs. Even spending at their usual levels, they would generate considerable revenue for... https://www.scmp.com/business/china-business/article/3347704/visa-free-travel-rising-foreign-visitors-boost-luxury-hotel-growth-china?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3347704/visa-free-travel-rising-foreign-visitors-boost-luxury-hotel-growth-china?utm_source=rss_feed Wed, 25 Mar 2026 04:30:08 +0000 Zhu Wenqian Zhu Wenqian Major Chinese consumer stocks listed in Hong Kong rose immediately after reporting strong full-year earnings, but retreated on Wednesday. Analysts said the results did not point to a broad recovery in the consumer market but instead underscored structural divergence and new growth drivers in mainland China consumption. Jeweller Laopu Gold posted stronger-than-expected results for 2025, with revenues of 27.3 billion yuan (US$4 billion) last year, a 221 per cent surge year on year, while net... https://www.scmp.com/business/banking-finance/article/3347779/china-consumer-stocks-jump-strong-earnings-analysts-warn-limited-recovery?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3347779/china-consumer-stocks-jump-strong-earnings-analysts-warn-limited-recovery?utm_source=rss_feed Wed, 25 Mar 2026 01:39:46 +0000 Neil Denslow,Raymond Ma Neil Denslow,Raymond Ma Chinese Premier Li Qiang committed to economic opening up and described the country as a “haven of stability” as he addressed global business leaders amid concerns about surging Chinese exports and conflict in the Middle East. China will support more balanced trade, provide further access to its services sectors, and boost imports of medical and healthcare products, digital technologies and low-carbon services, Li said at the China Development Forum on Sunday. Apple CEO Tim Cook, Samsung... https://www.scmp.com/plus/economy/china-economy/article/3347584/chinas-li-pledges-economic-opening-touts-stability?utm_source=rss_feed https://www.scmp.com/plus/economy/china-economy/article/3347584/chinas-li-pledges-economic-opening-touts-stability?utm_source=rss_feed Mon, 23 Mar 2026 09:22:28 +0000 Ralph Jennings Ralph Jennings Chinese engineers have designed the country’s first tourist submersible equipped to venture as deep as 1,000 metres (3,280 feet) below the ocean surface, giving eventual new momentum to the luxury travel industry. Engineers at the China Ship Scientific Research Centre in Wuxi, a city west of Shanghai, plan to build a prototype before the end of the year and enter commercial operation by 2030 for as many as four passengers per trip, state-run media outlets said this week. Key components including... https://www.scmp.com/economy/china-economy/article/3346863/china-developing-first-tourist-submersible-trips-1000-metres-under-sea?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3346863/china-developing-first-tourist-submersible-trips-1000-metres-under-sea?utm_source=rss_feed Mon, 23 Mar 2026 02:00:09 +0000 Ann Cao Ann Cao As China undergoes a sweeping economic transition, its regions are also in the process of embracing change. The powerhouses of yesteryear must adapt or risk falling behind, as traditional industries become less reliable growth drivers and new sectors take prominence. In this series, we explore three representative areas of the country as they attempt to navigate this rapidly changing environment. After a 900km (559-mile) journey at the end of last month’s Chinese New Year holiday, 24-year-old Ma... https://www.scmp.com/economy/china-economy/article/3347381/kunshan-chinas-foxconn-nerve-centre-old-tech-tries-learn-new-tricks?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347381/kunshan-chinas-foxconn-nerve-centre-old-tech-tries-learn-new-tricks?utm_source=rss_feed Sat, 21 Mar 2026 22:00:14 +0000 He Huifeng He Huifeng As China undergoes a sweeping economic transition, its regions are also in the process of embracing change. The powerhouses of yesteryear must adapt or risk falling behind, as traditional industries become less reliable growth drivers and new sectors take prominence. In this series, we explore three representative areas of the country as they attempt to navigate this rapidly changing environment. One morning in December, Zhang Li showed up for work as normal at Everwin Toys in Dongguan to find a... https://www.scmp.com/economy/china-economy/article/3347333/how-chinas-tech-transformation-putting-worlds-factory-tough-spot?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347333/how-chinas-tech-transformation-putting-worlds-factory-tough-spot?utm_source=rss_feed Sat, 21 Mar 2026 06:00:32 +0000 Mia Nurmamat,Ji Siqi Mia Nurmamat,Ji Siqi As Hainan pushes ahead with its free-trade port, the tropical island is emerging as a potential rival to Hong Kong’s long-standing role as a regional shopping and low-tax hub – even as both sides signal interest in closer cooperation. Since launching a separate customs regime three months ago, Hainan – now a gateway to the Chinese market – has positioned itself as a “super partner” to Hong Kong across industry chains, finance, tourism and other sectors, according to officials. “Hong Kong serves... https://www.scmp.com/economy/china-economy/article/3347323/chinas-hainan-free-trade-hub-reinvents-itself-hong-kongs-rival-and-partner?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347323/chinas-hainan-free-trade-hub-reinvents-itself-hong-kongs-rival-and-partner?utm_source=rss_feed Fri, 20 Mar 2026 09:27:05 +0000 Ralph Jennings Ralph Jennings About two out of every five professionals in China expect no pay rise this year after more than half missed out on one last year, with both figures higher than the Asian average, according to survey data gathered by a recruiting firm – a trend suggesting further pessimism among an already dissatisfied workforce. London-based recruitment firm Hays found that 44 per cent of professionals in China – the highest share anywhere in Asia – anticipate no salary increase in 2026. Six per cent expect a... https://www.scmp.com/economy/china-economy/article/3347176/survey-shows-chinas-professionals-have-high-expectations-low-pay?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347176/survey-shows-chinas-professionals-have-high-expectations-low-pay?utm_source=rss_feed Thu, 19 Mar 2026 15:00:10 +0000 He Huifeng He Huifeng Shanghai certified 30 new regional headquarters of multinational corporations and 15 research and development centres funded by overseas entities on Wednesday – a sign of continued interest in the Chinese financial hub despite an overall decline in the country’s foreign direct investment (FDI). Of the companies whose headquarters and R&D centres were certified this week in a ceremony hosted by the city’s mayor, Gong Zheng, eight are on the Fortune 500 list, according to a statement from the... https://www.scmp.com/economy/china-economy/article/3347178/shanghai-certifies-30-overseas-offices-amid-chinas-investment-sales-pitch?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347178/shanghai-certifies-30-overseas-offices-amid-chinas-investment-sales-pitch?utm_source=rss_feed Thu, 19 Mar 2026 10:30:09 +0000 Xinyi Wu Xinyi Wu China’s urban youth unemployment rate fell in February for the sixth consecutive month, though the marginal improvement provides little reprieve for jobseekers in a challenging post-holiday labour market. The jobless rate for the 16-to-24 age group, excluding students, edged down to 16.1 per cent in February from 16.3 per cent in January, according to data released by the National Bureau of Statistics on Thursday. The figure has been gradually declining since August, when a record 12.2 million... https://www.scmp.com/economy/china-economy/article/3346838/chinas-youth-unemployment-falls-sixth-consecutive-month-february?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3346838/chinas-youth-unemployment-falls-sixth-consecutive-month-february?utm_source=rss_feed Thu, 19 Mar 2026 07:57:31 +0000 Mia Nurmamat Mia Nurmamat The United Nations has warned the conflict in the Middle East is sending shock waves from the fertiliser industry to food prices, as countries across the northern hemisphere – including China – enter their spring planting seasons. If the conflict lasts longer than three months, the impact would become “significantly more serious”, affecting input costs in agriculture and disrupting the next planting season with longer-term consequences, chief economist of the Food and Agriculture Organization of... https://www.scmp.com/economy/china-economy/article/3347036/prolonged-iran-war-could-have-serious-impact-food-prices-says-uns-fao?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347036/prolonged-iran-war-could-have-serious-impact-food-prices-says-uns-fao?utm_source=rss_feed Thu, 19 Mar 2026 06:00:03 +0000 Carol Yang,Xinyi Wu Carol Yang,Xinyi Wu China’s economy got off to a strong start in 2026, as several indicators registered expectation-beating expansions in the first two months – though analysts cautioned the imminent energy crisis caused by the US-Israel war in Iran would present challenges for Beijing and the world at large in the months to come. Resilience in industrial output and retail sales, as well as a small expansion in fixed-asset investment, will provide a vital boost to Beijing as it strives to achieve an economic growth... https://www.scmp.com/economy/economic-indicators/article/3346697/chinas-economy-starts-2026-strongly-retail-sales-investment-rise?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3346697/chinas-economy-starts-2026-strongly-retail-sales-investment-rise?utm_source=rss_feed Mon, 16 Mar 2026 02:00:10 +0000 Raymond Ma,Neil Denslow Raymond Ma,Neil Denslow United States and Chinese trade negotiators will meet in Paris on Sunday and Monday, seeking to ready a deal ahead of US President Donald Trump’s visit to Beijing at the end of the month. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer will meet Chinese Vice Premier He Lifeng, according to US and Chinese government statements. Neither side gave specific details about the discussions. The sixth round of Bessent-He trade talks comes amid volatility in oil markets due to... https://www.scmp.com/plus/economy/china-economy/article/3346494/trade-talks-raising-lobsters-tech-earnings?utm_source=rss_feed https://www.scmp.com/plus/economy/china-economy/article/3346494/trade-talks-raising-lobsters-tech-earnings?utm_source=rss_feed Fri, 13 Mar 2026 09:00:59 +0000 Xinyi Wu Xinyi Wu Some Chinese lawmakers and advisers are pushing to secure higher pensions for elderly farmers, underscoring the persistent income disparity between the country’s urban and rural residents. The latest government work report, approved on Thursday, confirmed a 20-yuan (US$2.91) monthly increase to basic pension payments for a third consecutive year, bringing the national minimum to 163 yuan. However, some deputies from China’s top legislature contend that this level is inadequate. “A pension of... https://www.scmp.com/economy/china-economy/article/3346368/chinas-rural-pensions-focus-lawmakers-fight-farmers-fair-share-amid-income-gap?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3346368/chinas-rural-pensions-focus-lawmakers-fight-farmers-fair-share-amid-income-gap?utm_source=rss_feed Fri, 13 Mar 2026 00:00:11 +0000 SCMP Editorial SCMP Editorial The “two sessions” of China’s top legislative and political advisory bodies have concluded with the passage of major resolutions. A number of things set it apart. One is the endorsement by lawmakers of the nation’s 15th five-year plan – a road map with which Hong Kong is aligning its development. The other is that despite the distractions of war in the Middle East between rival power the United States and economic partner Iran, and the roller-coaster impact on the price of oil, China’s... https://www.scmp.com/opinion/comment/article/3346385/chinas-two-sessions-passes-smoothly-despite-global-turmoil?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3346385/chinas-two-sessions-passes-smoothly-despite-global-turmoil?utm_source=rss_feed Thu, 12 Mar 2026 23:15:10 +0000 Karman Lucero Karman Lucero For observers accustomed to a market economy, China’s can look like a contradiction. On the one hand, it is an unstoppable juggernaut, a manufacturing superpower with a US$1 trillion-plus trade surplus demonstrating its prowess and leverage across supply chains. China is also moving up the value chain, producing steel and widgets while also leading the world in solar panels, electric vehicles and the batteries that power them, industrial robots and more. China is even close behind or on par with... https://www.scmp.com/opinion/china-opinion/article/3346108/more-abundance-less-prosperity-why-2-chinas-are-emerging?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3346108/more-abundance-less-prosperity-why-2-chinas-are-emerging?utm_source=rss_feed Wed, 11 Mar 2026 21:30:11 +0000 Kun Tian Kun Tian China’s annual parliamentary “two sessions” have been framed as a show of resilience in a turbulent world. That framing is not wrong but it is incomplete. Beijing’s deliberately lower 2026 economic growth target is less an admission of weakness than a signal that the growth playbook is being rewritten. For Hong Kong, this is not background noise. It is a test of whether policy alignment can be converted into institutional credibility. When Premier Li Qiang delivered the government work report... https://www.scmp.com/opinion/hong-kong-opinion/article/3345773/why-chinas-economic-reset-credibility-test-hong-kong?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3345773/why-chinas-economic-reset-credibility-test-hong-kong?utm_source=rss_feed Tue, 10 Mar 2026 01:30:07 +0000 Frank Chen Frank Chen China will develop a new financial law and a dedicated financial stability law this year, as Beijing works to defuse risks and prevent new ones as part of its ambition to become a financial superpower. In its work report delivered on Monday, the National People’s Congress Standing Committee, the country’s top legislative body, said it would also amend existing laws, including the People’s Bank of China Law and the Banking Supervision and Management Law. The work report outlined a broad... https://www.scmp.com/economy/china-economy/article/3345973/chinas-financial-superpower-ambitions-get-legal-backing-two-sessions?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345973/chinas-financial-superpower-ambitions-get-legal-backing-two-sessions?utm_source=rss_feed Tue, 10 Mar 2026 00:00:10 +0000 He Huifeng He Huifeng Companies in southern China are feeling growing confidence in the state of US-China relations and are reinvesting cautiously in the country, according to a survey by a US business lobby group. The American Chamber of Commerce in South China (AmCham South China) – a mix of foreign and domestic firms – generally expects bilateral ties to stabilise in the year ahead, but is also adapting to geopolitical friction as China shifts from assembling Western goods to supplying industrial parts to emerging... https://www.scmp.com/economy/china-economy/article/3345955/china-us-trade-relations-may-reach-tactical-truce-slowing-down-economic-decoupling?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345955/china-us-trade-relations-may-reach-tactical-truce-slowing-down-economic-decoupling?utm_source=rss_feed Mon, 09 Mar 2026 20:00:08 +0000 Fan Hou Fan Hou To see every province-level region’s growth target, view this Quick Digest. https://www.scmp.com/plus/economy/china-economy/article/3345931/two-sessions-2026?utm_source=rss_feed https://www.scmp.com/plus/economy/china-economy/article/3345931/two-sessions-2026?utm_source=rss_feed Mon, 09 Mar 2026 05:16:08 +0000 Luna Sun Luna Sun China’s consumer prices rose during the first two months of the year as a longer-than-usual Chinese New Year holiday drove a surge in spending, though analysts cautioned that Beijing might need to implement stronger measures to boost demand to sustain the recovery. The national consumer price index (CPI), a crucial gauge of inflation, rose by 0.8 per cent year on year during the January-February period, according to data released by the National Bureau of Statistics (NBS) on Monday. Readings for... https://www.scmp.com/economy/china-economy/article/3345926/chinas-consumer-prices-keep-rising-after-holiday-spending-surge?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345926/chinas-consumer-prices-keep-rising-after-holiday-spending-surge?utm_source=rss_feed Mon, 09 Mar 2026 04:08:13 +0000 Xiaofei Xu,Mia Nurmamat,Coco Feng Xiaofei Xu,Mia Nurmamat,Coco Feng China has outlined a basket of measures to support its technology sector, from creating a more flexible and inclusive fundraising ecosystem to boosting demand for hi-tech products. During a high-profile press conference in Beijing, the country’s top economic officials laid out plans to deepen reforms to ChiNext – China’s board for start-ups – and make it easier and quicker for companies to refinance. “Technological innovation requires high investment, long cycles, and carries significant risks,”... https://www.scmp.com/economy/china-economy/article/3345764/china-pledges-full-support-tech-sector-broad-range-new-policies?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345764/china-pledges-full-support-tech-sector-broad-range-new-policies?utm_source=rss_feed Fri, 06 Mar 2026 13:05:08 +0000 Xinyi Wu Xinyi Wu Beijing has stressed that it does not intend to rely on a weaker yuan for trade gains, amid a recent rally in the currency and mounting pressure from trade partners to allow it to strengthen. “China has neither the need nor the intention to gain competitive advantages in trade through currency depreciation,” said Pan Gongsheng, governor of the central bank, at a press conference of the country’s top economic officials on Friday. The comments came ahead of a new round of trade talks between China... https://www.scmp.com/economy/china-economy/article/3345755/china-fires-back-currency-depreciation-claims-denies-using-weak-yuan-boost-exports?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345755/china-fires-back-currency-depreciation-claims-denies-using-weak-yuan-boost-exports?utm_source=rss_feed Fri, 06 Mar 2026 12:00:09 +0000 Mandy Zuo Mandy Zuo China’s top economic officials held a press conference on the sidelines of the “two sessions” – the annual meetings of China’s top legislature and advisory body – in Beijing on Friday. The briefing, which came a day after Beijing unveiled its economic goals for 2026 and a draft outline for its 15th five-year plan, offered fresh insights into China’s agenda for trade, investment and technological development. Here are the main takeaways from the meeting: Exchange rate Pan Gongsheng, governor of... https://www.scmp.com/economy/china-economy/article/3345737/8-takeaways-economic-briefing-chinas-two-sessions?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345737/8-takeaways-economic-briefing-chinas-two-sessions?utm_source=rss_feed Fri, 06 Mar 2026 10:57:01 +0000 SCMP Reporters SCMP Reporters This live blog is freely available to our registered users. Please log in or create an account below. For full coverage of the 15th five-year plan, including policy and economic shifts plus Trump’s visit, subscribe with our China Super March offer now. China’s top economic officials held a press conference on Friday as part of the “two sessions”, the country’s annual policymaking meetings. The leaders of the National Development and Reform Commission – Beijing’s top economic planner – the... https://www.scmp.com/economy/china-economy/article/3345694/two-sessions-2026-china-lays-out-its-economic-agenda-press-conference?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345694/two-sessions-2026-china-lays-out-its-economic-agenda-press-conference?utm_source=rss_feed Fri, 06 Mar 2026 06:55:23 +0000 Mandy Zuo Mandy Zuo China will allocate more of its fiscal spending this year towards human capital and social safety nets, as Beijing seeks to boost domestic demand and unlock new growth through “investing in people”. “Efforts must be sustained to optimise the expenditure structure, with greater emphasis on supporting the boosting of consumption, investing in people, and safeguarding people’s livelihoods,” Premier Li Qiang said in his annual work report, delivered during the opening session of the National... https://www.scmp.com/economy/china-economy/article/3345615/china-pivots-investing-people-strategy-growth-engine-switches-gears?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345615/china-pivots-investing-people-strategy-growth-engine-switches-gears?utm_source=rss_feed Fri, 06 Mar 2026 05:00:08 +0000 Ji Siqi Ji Siqi With local governments in China struggling to replenish their treasuries while facing growing public service obligations, Beijing is setting its sights on securing more tax revenue as a major reform goal for 2026 and the four years beyond. Compared with the previous five-year plan period’s emphasis on “tax and fee cuts”, the language in the draft of the full 15th five-year plan – released on Thursday – emphasised “maintaining a reasonable macro tax burden”. The document also pledged to... https://www.scmp.com/economy/china-economy/article/3345619/chinas-new-5-year-plan-targets-tax-reform-local-governments-face-fiscal-strain?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345619/chinas-new-5-year-plan-targets-tax-reform-local-governments-face-fiscal-strain?utm_source=rss_feed Fri, 06 Mar 2026 03:00:13 +0000 Coco Feng,Mia Nurmamat,Ann Cao Coco Feng,Mia Nurmamat,Ann Cao China’s policymakers want the digital economy to account for 12.5 per cent of gross domestic product by 2030, as Beijing accelerates its push to build a modern industrial system anchored in advanced manufacturing. The goal represents a significant increase from the 10.5 per cent share achieved in 2025, which was announced on Thursday during the annual “two sessions” parliamentary meetings and exceeded the initial target. A large part of China’s digital economy – activities facilitated by data,... https://www.scmp.com/business/china-business/article/3345611/china-bets-ai-manufacturing-integration-narrow-digital-economy-gap-us?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3345611/china-bets-ai-manufacturing-integration-narrow-digital-economy-gap-us?utm_source=rss_feed Fri, 06 Mar 2026 01:00:12 +0000 Vincent Chow,Wency Chen,Enoch Yiu Vincent Chow,Wency Chen,Enoch Yiu Beijing has emphasised the safe and orderly development of artificial intelligence amid growing global anxiety about the disruptive impact of the rapidly advancing technology, as the country’s leaders put the final stamp of approval on China’s next five-year plan at this year’s “two sessions”. The 15th five-year plan elevates China’s AI Plus initiative as a top national priority, according to a draft version of the document submitted for review to the National People’s Congress, China’s top... https://www.scmp.com/tech/policy/article/3345586/chinas-five-year-plan-emphasises-orderly-ai-development-amid-global-tech-volatility?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3345586/chinas-five-year-plan-emphasises-orderly-ai-development-amid-global-tech-volatility?utm_source=rss_feed Thu, 05 Mar 2026 15:30:08 +0000 Jane Cai Jane Cai Beijing has set a relatively cautious yet pragmatic economic growth target for 2026 amid persistent domestic headwinds and escalating external pressures. A 4.5 to 5 per cent GDP growth target – the lowest since 1991 – was announced by Premier Li Qiang on Thursday at the opening session of the National People’s Congress (NPC), China’s top legislature. In delivering his annual government work report, Li reaffirmed Beijing’s aim for stronger economic growth where conditions allowed. He emphasised... https://www.scmp.com/news/china/diplomacy/article/3345621/china-targets-lowest-growth-range-1991-realistic-move-pressures-rise?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3345621/china-targets-lowest-growth-range-1991-realistic-move-pressures-rise?utm_source=rss_feed Thu, 05 Mar 2026 14:30:20 +0000 Carol Yang Carol Yang As the United States grapples with mounting debt, China is doubling down on efforts to clean up its own balance sheet, vowing to tackle risks with “iron discipline”. The pledge came as the world’s second-largest economy weathers a years-long real estate slump and cooling domestic demand. Beijing faces growing pressure to balance short-term growth targets with longer-term deleveraging, as it seeks to transition to a more sustainable economy. In the government work report delivered on Thursday to... https://www.scmp.com/economy/china-economy/article/3345587/china-pledges-iron-discipline-tackle-debt-risks-us-borrowing-under-trump-surges?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345587/china-pledges-iron-discipline-tackle-debt-risks-us-borrowing-under-trump-surges?utm_source=rss_feed Thu, 05 Mar 2026 11:00:11 +0000 Brian Rhoads,Raymond Ma Brian Rhoads,Raymond Ma China set the lowest economic growth target since 1991 as the country contends with global trade tensions, weak domestic demand and rising debt from white elephant investments. A target range for growth of 4.5 to 5 per cent, “while striving for better in practice” was announced by Premier Li Qiang as he delivered the annual government work report on the opening day of the National People’s Congress (NPC), the annual legislative gathering. That marks a reduction from “around 5 per cent” in each... https://www.scmp.com/plus/economy/china-economy/article/3345566/chinas-growth-target-cut-reflects-pragmatism-amid-challenges?utm_source=rss_feed https://www.scmp.com/plus/economy/china-economy/article/3345566/chinas-growth-target-cut-reflects-pragmatism-amid-challenges?utm_source=rss_feed Thu, 05 Mar 2026 09:45:18 +0000 Sylvia Ma,Carol Yang Sylvia Ma,Carol Yang China will set priorities for technological innovation, economic security, public well-being and carbon reduction over the next five years, vowing to lay a solid foundation for its 2035 target of doubling per capita gross domestic product from 2020 levels. The world’s second-largest economy will release 20 growth targets, including both binding and non-binding ones, in areas covering the economy, technology, healthcare and economic security, Premier Li Qiang said when outlining the broad strokes... https://www.scmp.com/economy/china-economy/article/3345525/china-step-tech-energy-and-decarbonisation-efforts-next-5-year-plan?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345525/china-step-tech-energy-and-decarbonisation-efforts-next-5-year-plan?utm_source=rss_feed Thu, 05 Mar 2026 05:54:25 +0000 Victoria Bela Victoria Bela Artificial intelligence will be a focal point of the scientific agenda at Beijing’s annual legislative meeting and coming five-year plan, as China and the US pursue divergent AI paths putting their tech ecosystems at odds. Just over a year ago, Chinese start-up DeepSeek released an open-source AI model that changed how the world viewed the country’s AI capabilities and ambitions. Chinese companies have embraced an open-source approach to AI development, which has rapidly scaled usage of their... https://www.scmp.com/news/china/science/article/3345440/two-sessions-two-paths-china-prioritises-ai-integration-amid-us-tech-rivalry?utm_source=rss_feed https://www.scmp.com/news/china/science/article/3345440/two-sessions-two-paths-china-prioritises-ai-integration-amid-us-tech-rivalry?utm_source=rss_feed Wed, 04 Mar 2026 15:55:08 +0000 Xinyi Wu Xinyi Wu Rising energy costs driven by Middle Eastern geopolitical tensions may provide some relief to China’s years-long struggle with weak prices, but analysts warn that a spike in oil prices could spark a scenario in which stagnant economic growth collides with rising inflation, hindering the nation’s economic recovery. “Rising oil prices [could] lead to stagflation, which helps increase the inflation rate but also leads to a decline in economic growth and an increase in unemployment,” said Su Jian,... https://www.scmp.com/economy/global-economy/article/3345420/mideast-oil-crisis-revives-stagflation-spectre-haunting-chinas-deflation-battle?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3345420/mideast-oil-crisis-revives-stagflation-spectre-haunting-chinas-deflation-battle?utm_source=rss_feed Wed, 04 Mar 2026 10:00:40 +0000 Zhang Tong Zhang Tong New Tsinghua University data this week reveals a nearly 20 per cent rise in graduates joining the manufacturing and energy sectors, signalling a major shift in career pursuits in China. The sharp rise seen in Tsinghua’s class of 2025 indicates a renewed interest in traditional industrial sectors among top-tier talent as well as the pull of national strategic priorities. As some of China’s brightest minds enter these fields, the country is poised to intensify its competitive challenge to Western... https://www.scmp.com/news/china/science/article/3345299/manufacturing-talent-boom-why-chinas-smartest-students-are-factory-bound?utm_source=rss_feed https://www.scmp.com/news/china/science/article/3345299/manufacturing-talent-boom-why-chinas-smartest-students-are-factory-bound?utm_source=rss_feed Wed, 04 Mar 2026 04:00:14 +0000 Cao Li Cao Li Ahead of China’s annual legislative meetings – typically a window into Beijing’s top-level policy agenda – this is the seventh entry in a series examining the complex economic recalibration driving China’s growth philosophy and its wide-ranging implications for local governments, financial investors and private enterprises. Investors and policy watchers will be looking to this week’s meetings of China’s national legislature and top political advisory body – also known as the “two sessions” – for... https://www.scmp.com/business/article/3345261/investors-watch-chinas-two-sessions-clues-property-overhaul?utm_source=rss_feed https://www.scmp.com/business/article/3345261/investors-watch-chinas-two-sessions-clues-property-overhaul?utm_source=rss_feed Tue, 03 Mar 2026 23:30:07 +0000 Wang Xiangwei Wang Xiangwei As China’s leaders convene for the annual “two sessions” starting this week, the eyes of the world will be fixed on Beijing. This gathering is no ordinary policy meeting. Beyond setting the economic growth target for 2026, it will finalise the 15th five-year plan (2026–2030), a blueprint that will define the nation’s economic and social priorities for the second half of this decade. In an era of intensifying great-power competition, particularly with the United States, these decisions will shape... https://www.scmp.com/opinion/china-opinion/article/3344883/now-time-china-show-its-serious-about-opening?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3344883/now-time-china-show-its-serious-about-opening?utm_source=rss_feed Sun, 01 Mar 2026 21:30:08 +0000 Cao Li Cao Li China’s major sportswear makers have shrugged off soft consumer spending and a warm winter, according to analysts. Retail sales in China’s sportswear sector picked up in the first two months of 2026 and beat expectations, helped by fresh policy support and Chinese New Year demand, analysts said. Separately, Chinese households also tuned into the Winter Olympics, where domestic sportswear giants Li Ning and Anta had high visibility. “We are turning more positive on the China sportswear industry... https://www.scmp.com/business/article/3345011/warm-winter-no-match-chinas-sportswear-sector-posts-surprise-growth?utm_source=rss_feed https://www.scmp.com/business/article/3345011/warm-winter-no-match-chinas-sportswear-sector-posts-surprise-growth?utm_source=rss_feed Sun, 01 Mar 2026 10:00:18 +0000 Frank Chen Frank Chen Ahead of China’s annual legislative meetings – typically a window into Beijing’s top-level policy agenda – this is the second entry in a series examining the complex economic recalibration driving China’s growth philosophy and its wide-ranging implications for local governments, financial investors and private enterprises. Beijing’s campaign to purge the bureaucracy of a growth-at-all-costs mindset has caught some local officials off guard, triggering a mix of confusion and contradictory... https://www.scmp.com/economy/china-economy/article/3344887/chinas-pivot-gdp-obsession-sparks-cadre-confusion-testing-local-governance?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3344887/chinas-pivot-gdp-obsession-sparks-cadre-confusion-testing-local-governance?utm_source=rss_feed Sat, 28 Feb 2026 02:00:49 +0000 SCMP Reporters SCMP Reporters This document was translated from Chinese into English using Alibaba’s Qwen3.5-Plus and edited for accuracy by a Post journalist. It is for reference only and is not the official English version. Alibaba owns the South China Morning Post. https://www.scmp.com/plus/economy/china-economy/article/3344891/chinas-february-politburo-readout?utm_source=rss_feed https://www.scmp.com/plus/economy/china-economy/article/3344891/chinas-february-politburo-readout?utm_source=rss_feed Fri, 27 Feb 2026 10:16:25 +0000 Raymond Ma,Neil Denslow Raymond Ma,Neil Denslow Chinese lawmakers gather next week for the annual “two sessions” legislative meetings, where they will approve the 15th five-year plan and likely see a shift towards less emphasis on economic growth. Premier Li Qiang will summarise the new five-year plan and announce the 2026 GDP target on March 5, the first day of meetings for the National People’s Congress, the country’s legislature. Lawmakers will likely give near-unanimous support to the plan, which runs through 2030, when the meeting... https://www.scmp.com/plus/news/china/politics/article/3344851/two-sessions-trump-tariffs-jdcom-earnings?utm_source=rss_feed https://www.scmp.com/plus/news/china/politics/article/3344851/two-sessions-trump-tariffs-jdcom-earnings?utm_source=rss_feed Fri, 27 Feb 2026 09:00:08 +0000 Fan Hou Fan Hou Twenty-one of China’s 31 provincial-level regions have set lower annual growth targets ahead of the unveiling of the national goal on March 5. Guangdong, the most populous region, cut its target for 2026 to a range of 4.5 per cent to 5 per cent, versus “around 5 per cent” last year. Tianjin, Hebei and Shanxi are also among provinces with lower economic targets. Jiangxi is the only region with an increase. The national goal may be reduced to 4.5 per cent to 5 per cent from “around 5 per cent”,... https://www.scmp.com/plus/economy/china-economy/article/3344825/chinese-regions-cut-growth-targets-2026?utm_source=rss_feed https://www.scmp.com/plus/economy/china-economy/article/3344825/chinese-regions-cut-growth-targets-2026?utm_source=rss_feed Fri, 27 Feb 2026 04:50:43 +0000 Ralph Jennings Ralph Jennings China logged an overall increase in travel during the just-concluded Chinese New Year break compared with last year’s holiday period, but analysts said spending per capita stayed flat. The country saw 596 million domestic trips over the extended public holiday that ended on Monday, a year-on-year increase of 95 million, Xinhua reported. About 17.8 million cross-border trips were logged over the same period, it added. Chinese New Year is a crucial period for the travel sector as hundreds of... https://www.scmp.com/economy/china-economy/article/3344699/china-sees-rise-chinese-new-year-travel-capita-spending-remains-flat?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3344699/china-sees-rise-chinese-new-year-travel-capita-spending-remains-flat?utm_source=rss_feed Thu, 26 Feb 2026 06:08:27 +0000 Luna Sun Luna Sun Richard Liu, founder of China’s retail giant JD.com, has launched a nautical brand to build out the country’s yacht industry, riding a wave of policy support to tap a fast-growing domestic market and make the vessels – traditionally associated with affluence and luxury – accessible to “everyday consumers”. Liu’s brand, Sea Expandary, signed a strategic framework agreement on Tuesday with the coastal cities of Shenzhen and Zhuhai in Guangdong, China’s southern powerhouse province, for a high-end... https://www.scmp.com/economy/china-economy/article/3344583/boat-every-dock-chinese-billionaire-unveils-plan-mass-yacht-production?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3344583/boat-every-dock-chinese-billionaire-unveils-plan-mass-yacht-production?utm_source=rss_feed Wed, 25 Feb 2026 10:30:07 +0000 Sylvia Ma Sylvia Ma The International Monetary Fund (IMF) has called on China to make the shift to a consumption-led growth model an “overarching priority”, while urging the country to curb what it called “unwarranted industrial policy” amid mounting external imbalances. The IMF staff’s recommendations, issued ahead of Beijing’s annual parliamentary meetings, joined increasingly loud calls for economic rebalancing, particularly after China’s record trade surplus last year. “China needs to move decisively towards... https://www.scmp.com/economy/china-economy/article/3344557/imf-urges-china-prioritise-consumption-led-rebalancing-curb-industrial-policy?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3344557/imf-urges-china-prioritise-consumption-led-rebalancing-curb-industrial-policy?utm_source=rss_feed Wed, 25 Feb 2026 08:47:38 +0000