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 Xiaofei Xu Xiaofei Xu Chinese firms receive three to eight times more government subsidies than their global competitors, fuelling nearly 60 per cent of their gains in overseas market share in recent years, according to a global intergovernmental report. The findings are likely to keep Chinese companies on the radar of Western regulators as high-profile trade tensions persist, despite strong disagreement from China’s business community. The report, published on Monday by the Organisation for Economic Co-operation and... https://www.scmp.com/economy/china-economy/article/3355630/chinese-firms-overseas-expansion-fuelled-huge-government-subsidies-oecd-report?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3355630/chinese-firms-overseas-expansion-fuelled-huge-government-subsidies-oecd-report?utm_source=rss_feed Tue, 02 Jun 2026 04:11:32 +0000 Yeon Woo Lee Yeon Woo Lee As his eight-year-old son blew out the candles on his birthday cake in February, Choi Nam-joon gave him a present he hopes will keep growing long after the party ends: three shares of Samsung Electronics. The shares, worth a total of about 500,000 won (US$332) at the time, were added to the boy’s brokerage account, part of a plan the 42-year-old South Korean office worker sees as the most realistic way to help his son build wealth. Choi’s family cannot afford to buy a home in one of Seoul’s most... https://www.scmp.com/economy/global-economy/article/3355564/property-portfolios-asias-families-rethink-inheritance-investments?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3355564/property-portfolios-asias-families-rethink-inheritance-investments?utm_source=rss_feed Mon, 01 Jun 2026 22:00:06 +0000 Zhu Wenqian Zhu Wenqian China’s home prices saw a modest recovery in May, adding to growth in March and April, as positive signs of a gradually stabilising property market continued to accumulate after five years of weakness, according to analysts. In May, the average price of newly built residential properties across 100 Chinese cities stood at 17,156 yuan (US$2,534) per square metre, edging up 0.16 per cent from a month earlier and 2.03 per cent year on year, data from the China Index Academy showed on Monday. The... https://www.scmp.com/business/article/3355548/chinas-property-market-shows-more-positive-signs-price-sales-upticks?utm_source=rss_feed https://www.scmp.com/business/article/3355548/chinas-property-market-shows-more-positive-signs-price-sales-upticks?utm_source=rss_feed Mon, 01 Jun 2026 08:30:20 +0000 Mia Nurmamat Mia Nurmamat For the first time, Beijing has included the task of “telling China’s stock market narrative well” in its assessment of brokerage research, as it steps up efforts to bolster confidence in domestic equities while curbing capital outflows. In a new survey for the 2025 cycle, the Securities Association of China – an industry regulator – incorporated brokerage contributions to national strategies and industry development into its evaluation framework. Research institutes were now required to... https://www.scmp.com/economy/china-economy/article/3355286/china-pushes-brokerages-help-shape-stock-market-narrative?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3355286/china-pushes-brokerages-help-shape-stock-market-narrative?utm_source=rss_feed Fri, 29 May 2026 07:00:08 +0000 Alice Li Alice Li China has a unique window to internationalise its currency by deepening domestic financial markets, according to a former senior US central bank official who pointed to the evolution of the US dollar and the euro for lessons to be gleaned. The comments from Charles Evans, former president of the Federal Reserve Bank of Chicago, provide a fresh perspective in the growing discussion over whether and how the world’s second-largest economy can transform the yuan into a global currency. Speaking on... https://www.scmp.com/economy/global-economy/article/3355195/yuan-deeper-markets-ex-feds-evans-cites-dollar-playbook-amid-risks-criticism?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3355195/yuan-deeper-markets-ex-feds-evans-cites-dollar-playbook-amid-risks-criticism?utm_source=rss_feed Thu, 28 May 2026 14:00:13 +0000 Xinyi Wu Xinyi Wu Chinese provinces are scouring their balance sheets to revitalise idle state assets, seeking alternative revenue streams to counter intense debt pressures stemming from the prolonged property downturn. In jurisdictions such as Jilin, Sichuan and Chongqing, which are leading this fiscal drive, local authorities are doubling down on meeting aggressive regional targets to repair strained finances. Jilin’s governor, Hu Yuting, on Tuesday said the province aimed to anchor an annual target of 100... https://www.scmp.com/economy/china-economy/article/3355034/property-hunters-china-regions-mine-ledgers-dormant-riches-idle-assets?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3355034/property-hunters-china-regions-mine-ledgers-dormant-riches-idle-assets?utm_source=rss_feed Wed, 27 May 2026 12:30:08 +0000 SCMP Plus SCMP Plus This report was translated from Chinese into English using Alibaba’s Qwen3, then checked and tweaked for accuracy by a South China Morning Post journalist. It is for reference only, and is not the official English version of the original Chinese document. Alibaba owns the SCMP. https://www.scmp.com/plus/economy/china-economy/article/3354850/china-expands-migrant-workers-access-public-services?utm_source=rss_feed https://www.scmp.com/plus/economy/china-economy/article/3354850/china-expands-migrant-workers-access-public-services?utm_source=rss_feed Tue, 26 May 2026 04:37:01 +0000 Daniel Ren Daniel Ren Fast-food restaurants in mainland China have found a magic bullet for both health and company profit: offering consumers meal options that limit sugar and salt and provide balanced nutrition. Lighter meals are rising in popularity in China, with an estimated consumer base of about 33 million across the country, and are becoming a game-changer in the food and drink sector, with big-name restaurant chains like KFC seeking to capitalise on the rising trend. Yum China, the owner of KFC and Pizza Hut... https://www.scmp.com/business/china-business/article/3354801/new-battlefront-kfc-and-its-chinese-rivals-lighter-meal?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3354801/new-battlefront-kfc-and-its-chinese-rivals-lighter-meal?utm_source=rss_feed Tue, 26 May 2026 01:00:16 +0000 Emma Ma Emma Ma Weak consumer spending and a crackdown on inactive accounts have led to a plunge in the number of credit cards in China, further eating into profitability of the country’s struggling banking sector. During the first quarter of 2026, the number of credit cards owned by Chinese consumers dropped to 687 million, 9 million less than the preceding three months, the People’s Bank of China (PBOC) said in a report on payment earlier this month. Since the number of accounts peaked at 807 million in... https://www.scmp.com/economy/china-economy/article/3354728/millions-chinese-consumers-ditch-their-credit-cards-amid-prudent-spending-slow-economy?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3354728/millions-chinese-consumers-ditch-their-credit-cards-amid-prudent-spending-slow-economy?utm_source=rss_feed Mon, 25 May 2026 05:00:50 +0000 Ralph Jennings Ralph Jennings Banking giant HSBC on Friday nearly halved its forecast for China’s retail sales growth in 2026, after weak April data underscored pressures in the labour market and property sector, as well as slowing momentum in Beijing’s consumer goods trade-in programme. The bank cut its forecast to 2.8 per cent from 5.2 per cent projected in March, after official April retail sales data came in below expectations at 0.2 per cent year-on-year growth – the softest reading since late 2022 during the... https://www.scmp.com/economy/china-economy/article/3354561/hsbc-cuts-china-retail-sales-forecast-nearly-half-property-and-jobs-weigh-demand?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3354561/hsbc-cuts-china-retail-sales-forecast-nearly-half-property-and-jobs-weigh-demand?utm_source=rss_feed Fri, 22 May 2026 11:17:27 +0000 Ji Siqi Ji Siqi To address widening trade imbalances across the Asia-Pacific region, surplus-heavy nations such as China should be buying more, and deficit-running economies need to bolster their competitiveness, a top Apec official said on Thursday. “China has been developing significantly in recent decades … [becoming] sort of a global producer for the whole world. But now, the next challenge is for China to become the market for the whole world,” said Carlos Kuriyama, director of the Policy Support Unit at... https://www.scmp.com/economy/global-economy/article/3354403/asia-pacific-trade-risks-loom-large-apec-official-warns-protectionism-imbalances?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3354403/asia-pacific-trade-risks-loom-large-apec-official-warns-protectionism-imbalances?utm_source=rss_feed Thu, 21 May 2026 12:30:16 +0000 Karen Tian Karen Tian Chinese listed companies have delivered strong stock returns over the past year even as net profits grew by only about 1 per cent, suggesting the gains were driven more by higher valuations than corporate earnings, according to a quarterly investor survey released by the Cheung Kong Graduate School of Business (CKGSB). Net profit growth turned positive at about 1 per cent on a trailing 12-month basis to the first quarter of 2026, while price-to-earnings ratios rose 31.2 per cent, the survey... https://www.scmp.com/economy/china-economy/article/3354353/chinas-corporate-earnings-lag-behind-stock-market-gains-survey-finds?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3354353/chinas-corporate-earnings-lag-behind-stock-market-gains-survey-finds?utm_source=rss_feed Thu, 21 May 2026 07:59:37 +0000 Carol Yang Carol Yang China needs a coordinated policy package of currency appreciation, tariff cuts and elevated labour benefits to rebalance its massive trade surplus, outspoken former Chongqing mayor Huang Qifan said on Tuesday. Speaking at this year’s Tsinghua PBCSF Global Finance Forum in Chengdu, the capital of the southwestern province of Sichuan, Huang described China’s 2025 record-breaking US$1.2 trillion merchandise trade surplus as “shocking”. That momentum has shown no signs of slowing. China’s goods... https://www.scmp.com/economy/china-economy/article/3354248/china-poised-record-trade-surplus-former-chongqing-mayor-calls-action?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3354248/china-poised-record-trade-surplus-former-chongqing-mayor-calls-action?utm_source=rss_feed Wed, 20 May 2026 23:30:05 +0000 Brian Rhoads,Raymond Ma Brian Rhoads,Raymond Ma China’s retail sales growth surprisingly slowed to the lowest in more than three years as higher energy costs, lower stimulus measures and rising inflation compounded weak domestic demand. Consumer spending rose by 0.2 per cent from a year earlier in April, down from 1.7 per cent growth in March, the National Bureau of Statistics said on Monday. Economists had predicted a 2 per cent increase, based on a poll by Chinese financial data provider Wind. April industrial output also only rose 4.1 per... https://www.scmp.com/plus/economy/economic-indicators/article/3353969/chinas-unexpected-retail-slowdown-shows-hormuz-strains?utm_source=rss_feed https://www.scmp.com/plus/economy/economic-indicators/article/3353969/chinas-unexpected-retail-slowdown-shows-hormuz-strains?utm_source=rss_feed Mon, 18 May 2026 09:07:31 +0000 Xinyi Wu Xinyi Wu China should raise taxes on the income and properties of high-income groups, a prominent economist has said, arguing the move would align government incentives with protecting property rights and reducing broader social inequality. Liu Shijin, a former deputy head at the Development Research Centre of the State Council, argued that China’s fiscal system should shift from its reliance on indirect taxes – levied on the circulation of goods and services – to direct taxes imposed on individual... https://www.scmp.com/economy/policy/article/3353076/china-must-raise-taxes-ultra-rich-fight-inequality-ex-adviser-says?utm_source=rss_feed https://www.scmp.com/economy/policy/article/3353076/china-must-raise-taxes-ultra-rich-fight-inequality-ex-adviser-says?utm_source=rss_feed Tue, 12 May 2026 09:30:31 +0000 Sylvia Ma Sylvia Ma China’s first-quarter marriage registrations fell to their lowest level for the same period since 2020, as the country continued to grapple with persistent demographic challenges amid a declining birth rate and a shrinking population. In the first three months of this year, 1.697 million couples in China tied the knot, down 6.24 per cent from the same period last year, according to data released by the Ministry of Civil Affairs on Saturday. The figure marked the lowest first-quarter total since... https://www.scmp.com/economy/china-economy/article/3353108/chinas-marriage-numbers-plunge-covid-era-low-population-woes-deepen?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3353108/chinas-marriage-numbers-plunge-covid-era-low-population-woes-deepen?utm_source=rss_feed Mon, 11 May 2026 06:01:39 +0000 He Huifeng He Huifeng A major benchmark of China’s factory-gate prices continued to rise last month, as the energy shock linked to the US-Israel war on Iran weighs on producers in the world’s second-largest economy. After returning to growth for the first time in more than three years the month before, the producer price index (PPI) recorded a higher-than-expected year-on-year increase of 2.8 per cent in April, according to the National Bureau of Statistics (NBS). This followed March’s 0.5 per cent year-on-year... https://www.scmp.com/economy/economic-indicators/article/3353089/chinas-producer-consumer-inflation-april-iran-war-pressures-persist?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3353089/chinas-producer-consumer-inflation-april-iran-war-pressures-persist?utm_source=rss_feed Mon, 11 May 2026 03:54:15 +0000 Tony Zhao Tony Zhao China may finally have a chance to loosen the grip of deflation. Yet, the more important question is whether it can do so without making households feel poorer first. The latest producer price index (PPI), which measures the prices factories charge, brings that possibility back into serious debate. China’s March PPI rose by 0.5 per cent year on year, ending 41 months of decline; it was up 1 per cent from February. After years of weak prices, cautious household spending and squeezed corporate... https://www.scmp.com/opinion/china-opinion/article/3352619/can-china-engineer-price-recovery-doesnt-make-people-feel-poorer?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3352619/can-china-engineer-price-recovery-doesnt-make-people-feel-poorer?utm_source=rss_feed Sun, 10 May 2026 08:30:04 +0000 Karen Tian Karen Tian Overseas-invested securities firms collectively saw income from their China businesses skyrocket in 2025, as combined net profits climbed more than fourfold from a year earlier to 2.65 billion yuan (US$390 million), according to their annual reports. However, while the industry’s bottom line surged last year – fuelled by China’s lifting of capital restrictions and a rebound in the capital market – the individual performances of firms showed a widening gap in scale. A South China Morning Post... https://www.scmp.com/economy/china-economy/article/3352912/wall-street-giants-lead-china-profit-surge-despite-market-polarisation-uneven-recovery?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3352912/wall-street-giants-lead-china-profit-surge-despite-market-polarisation-uneven-recovery?utm_source=rss_feed Fri, 08 May 2026 12:00:15 +0000 Ralph Jennings Ralph Jennings China’s railway network broke passenger records during the long May Day holiday as millions hit the rails. Meanwhile, a shift towards budget-conscious destinations such as the African coast, coupled with rising fuel costs, signalled a cautious consumer landscape despite the surge in mobility. China’s Ministry of Transport said on Wednesday that “cross-regional” trips during the holiday reached nearly 1.52 billion, a 3.49 per cent increase over the 2025 break, and a record high for the... https://www.scmp.com/economy/china-economy/article/3352618/chinas-may-day-travel-surges-spending-chases-value-budget-conscious-pivot?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3352618/chinas-may-day-travel-surges-spending-chases-value-budget-conscious-pivot?utm_source=rss_feed Wed, 06 May 2026 12:00:08 +0000 Ji Siqi Ji Siqi Four years after Shanghai’s harsh citywide lockdown, there are signs the city’s expatriate population – which thinned significantly during the pandemic – is starting to rebound, though with a notably different demographic profile. The sound of English, Korean and French is once again often heard drifting through the plane-tree-lined streets of Shanghai’s former French Concession – widely seen as the heart of the city’s international community. And local residents point to a gradual, though... https://www.scmp.com/economy/china-economy/article/3352494/4-years-after-lockdown-shanghais-expat-community-recovering-and-changing?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3352494/4-years-after-lockdown-shanghais-expat-community-recovering-and-changing?utm_source=rss_feed Tue, 05 May 2026 10:00:16 +0000 Frank Chen Frank Chen China’s top tech hub, Shenzhen, saw retail sales grow by just 0.5 per cent year on year in the first quarter after reporting gross domestic product growth of 5.8 per cent for the same period, casting a spotlight on its unbalanced development as mortgage and living costs weigh heavily on residents’ sentiment. A policy analyst said the city, in southern China’s Guangdong province, could have already seen retail sales decline if not for the rising number of bargain-hunters from Hong Kong crossing... https://www.scmp.com/economy/china-economy/article/3352367/shenzhens-retail-sales-flatline-export-boom-fails-benefit-residents?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3352367/shenzhens-retail-sales-flatline-export-boom-fails-benefit-residents?utm_source=rss_feed Mon, 04 May 2026 14:00:09 +0000 He Huifeng He Huifeng Chinese citizens are facing growing inequality in wages and wealth, constraining the country’s “common prosperity” agenda at a time of slowing economic growth, a prominent economist has warned. Offering a rare glimpse into economic distribution beyond official statistics, research by Li Shi, dean of the Institute for Common Prosperity and Development at Zhejiang University, showed that China’s wealth Gini coefficient – a measure of inequality – rose from 0.45 in 1995 to above 0.7 in 2023. The... https://www.scmp.com/economy/china-economy/article/3352248/chinas-common-prosperity-push-faces-reality-check-inequality-rises-study?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3352248/chinas-common-prosperity-push-faces-reality-check-inequality-rises-study?utm_source=rss_feed Mon, 04 May 2026 04:00:11 +0000 Sylvia Ma Sylvia Ma Bai Chongen is a prominent Chinese economist and government adviser. He is the dean of Tsinghua University’s School of Economics and Management and serves concurrently as vice-chairman of the All-China Federation of Industry and Commerce. From 2015 to 2018, he was a member of the Chinese central bank’s monetary policy committee. Here, he discusses how China can avoid “Japanification”, what Beijing can do to help cultivate the next Elon Musk, and why the “China shock 2.0” phenomenon is often... https://www.scmp.com/economy/china-economy/article/3352022/bai-chongen-chinas-new-economic-paradigm-and-closing-us-tech-gap?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3352022/bai-chongen-chinas-new-economic-paradigm-and-closing-us-tech-gap?utm_source=rss_feed Sun, 03 May 2026 22:00:15 +0000 Sylvia Ma Sylvia Ma Dianjiang, a small county tucked away in southwestern China’s Chongqing, was transformed into a bustling live music hub in April as fans flocked to a concert headlined by Mandopop stars, including Jeff Chang. Such scenes are no longer unusual. Once the preserve of megacities like Beijing, Shanghai and Guangzhou, high-profile concerts are now breathing life into lesser-known venues. As China endeavours to make consumption its main growth driver and targets untapped markets, entertainment spending... https://www.scmp.com/economy/china-economy/article/3352052/chinas-live-music-boom-spreads-smaller-cities-consumption-drive-expands?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3352052/chinas-live-music-boom-spreads-smaller-cities-consumption-drive-expands?utm_source=rss_feed Sat, 02 May 2026 09:00:08 +0000 Zhang Shidong Zhang Shidong Chinese property stocks are poised for a comeback, as investors believe that a rebound in tier-one city home prices is a sign that the sector’s years-long woes are nearing an end. The pickup in home prices in mega cities such as Beijing and Shanghai has coincided with a spike in transaction volumes, indicating that buyers are piling in after prices have fallen to more affordable levels. In March, more than 30,000 lived-in homes were sold in Shanghai, the highest in five years, after the city... https://www.scmp.com/business/china-business/article/3352031/battered-chinese-property-stocks-primed-comeback-industry-shows-signs-turning?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3352031/battered-chinese-property-stocks-primed-comeback-industry-shows-signs-turning?utm_source=rss_feed Fri, 01 May 2026 04:30:09 +0000 Ralph Jennings Ralph Jennings One of the world’s largest online travel agencies expects to attract 200 million visitor arrivals to China over the next five years, helping to boost economic growth and reduce the country’s services trade deficit, according to domestic media reports. James Liang, board chairman of online travel agency Trip.com, said the projected influx would help turn China into the world’s top tourism destination, according to reports published on Wednesday. He was quoted as saying that inbound tourism could... https://www.scmp.com/economy/china-economy/article/3352025/tripcom-aims-bring-200-million-tourists-china-over-5-years-buoying-gdp-growth?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3352025/tripcom-aims-bring-200-million-tourists-china-over-5-years-buoying-gdp-growth?utm_source=rss_feed Fri, 01 May 2026 00:00:17 +0000 Sylvia Ma Sylvia Ma Bai Chongen is a prominent Chinese economist and government adviser. He is the dean of Tsinghua University’s School of Economics and Management and serves concurrently as vice-chairman of the All-China Federation of Industry and Commerce. From 2015 to 2018, he was a member of the Chinese central bank’s monetary policy committee. Here, he discusses how China can avoid “Japanification”, what Beijing can do to help cultivate the next Elon Musk, and why the “China shock 2.0” phenomenon is often... https://www.scmp.com/plus/economy/china-economy/article/3351947/how-china-can-avoid-repeat-japans-lost-decades-eyes-top-economist?utm_source=rss_feed https://www.scmp.com/plus/economy/china-economy/article/3351947/how-china-can-avoid-repeat-japans-lost-decades-eyes-top-economist?utm_source=rss_feed Thu, 30 Apr 2026 05:15:08 +0000 Carol Yang Carol Yang China is flexing its dominance over the global supply chain – claiming the world’s largest reserves of 14 essential minerals, including rare earths and graphite – while preparing to ramp up exploration through the end of the decade. The Ministry of Natural Resources disclosed the information at a monthly media briefing on Wednesday, vowing that China would continue accelerating its search for minerals during the 15th five-year plan period spanning 2026 to 2030. The message underscores Beijing’s... https://www.scmp.com/economy/china-economy/article/3351864/trumps-visit-china-touts-mineral-dominance-fortifies-resource-security?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3351864/trumps-visit-china-touts-mineral-dominance-fortifies-resource-security?utm_source=rss_feed Wed, 29 Apr 2026 11:00:09 +0000 Brian Rhoads,Raymond Ma Brian Rhoads,Raymond Ma BYD and Geely Auto, vying to be China’s biggest carmaker, both rose in Hong Kong stock trading as higher exports offset concerns about domestic price competition. Electric-vehicle giant BYD climbed 4.4 per cent on Wednesday even after reporting a 55 per cent drop in first-quarter net income to 4.09 billion yuan (US$590 million), the lowest quarterly profit in three years. Geely gained 2.6 per cent, overcoming a 27 per cent decline in earnings to 4.2 billion yuan. BYD sold 46 per cent of its... https://www.scmp.com/plus/business/china-evs/article/3351847/byd-geely-tap-global-ev-demand-escape-china-price-wars?utm_source=rss_feed https://www.scmp.com/plus/business/china-evs/article/3351847/byd-geely-tap-global-ev-demand-escape-china-price-wars?utm_source=rss_feed Wed, 29 Apr 2026 09:13:34 +0000 Xinyi Wu Xinyi Wu China’s top market regulator is intensifying its crackdown on debt-laden “zombie companies” – rolling out a pilot programme in seven economic hubs to facilitate the forced exit of unprofitable firms often propped up by government subsidies or bank loans. The move signals a broadening of Beijing’s campaign against local protectionism and the low-quality vicious competition that officials say results in neijuan, or “involution”. With a change to China’s Company Law, the State Administration for... https://www.scmp.com/economy/china-economy/article/3351794/china-targets-zombies-regulatory-headshots-kill-subsidised-laggards?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3351794/china-targets-zombies-regulatory-headshots-kill-subsidised-laggards?utm_source=rss_feed Wed, 29 Apr 2026 05:30:08 +0000 Frank Chen Frank Chen The economic divide between the United States and China is projected to widen to US$11 trillion by the end of the decade, yet escalating geopolitics – specifically the war in Iran and the ongoing Strait of Hormuz crisis – could inadvertently act as a stabilising force for bilateral ties, according to a prominent global strategist. Kishore Mahbubani, former president of the UN Security Council and once a top diplomat from Singapore, has forecast that the gross-domestic-product disparity between... https://www.scmp.com/economy/global-economy/article/3351732/us-economic-gap-over-china-widen-iran-might-bring-them-closer-former-un-official?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3351732/us-economic-gap-over-china-widen-iran-might-bring-them-closer-former-un-official?utm_source=rss_feed Wed, 29 Apr 2026 01:00:18 +0000 Frank Chen Frank Chen The long-standing rivalry between China’s two largest economic heavyweights – with each boasting a gross domestic product comparable to Group of Seven members Italy and Canada – reflects the regional dynamism and shifting economic gravity within the world’s second-biggest economy. Jiangsu has been threatening to end Guangdong’s uninterrupted reign as China’s largest provincial economy since the late 1980s, and the latest economic data reveals the gap between the two narrowed further in the first... https://www.scmp.com/economy/global-economy/article/3351572/guangdongs-rule-chinas-gdp-king-faces-unprecedented-threat-crown?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3351572/guangdongs-rule-chinas-gdp-king-faces-unprecedented-threat-crown?utm_source=rss_feed Mon, 27 Apr 2026 12:30:14 +0000 He Huifeng He Huifeng Profit growth at China’s industrial firms accelerated to a six-month high in March, as long-suppressed factory-gate prices turned positive amid disruptions from the Iran war. Total profits for China’s major industrial enterprises – those with annual revenues greater than 20 million yuan (US$2.93 million) – grew by 15.8 per cent last month, the fastest rate since September, according to data released by the National Bureau of Statistics (NBS) on Monday. Profits in the first quarter reached 1.696... https://www.scmp.com/economy/china-economy/article/3351565/china-industrial-profits-hit-6-month-high-amid-iran-war-factory-gate-prices-rebound?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3351565/china-industrial-profits-hit-6-month-high-amid-iran-war-factory-gate-prices-rebound?utm_source=rss_feed Mon, 27 Apr 2026 10:00:24 +0000 Yeon Woo Lee Yeon Woo Lee Once a niche destination, Central Asia is quickly emerging as a key market for Chinese travellers, supported by robust traffic growth, expanding air links and deeper economic ties under Beijing’s Belt and Road Initiative, according to analysts. Data from the Civil Aviation Administration of China showed that passenger traffic to Central Asia grew 59.3 per cent in 2025 from a year earlier, marking one of the fastest growth rates among all regions tracked, said Mayur Patel, commercial and industry... https://www.scmp.com/economy/china-economy/article/3351340/chinese-travellers-flock-central-asia-flight-bookings-soar-120-pre-covid-levels?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3351340/chinese-travellers-flock-central-asia-flight-bookings-soar-120-pre-covid-levels?utm_source=rss_feed Sun, 26 Apr 2026 08:00:11 +0000 Xinyi Wu Xinyi Wu As one of the world’s largest automotive glass producers, and the subject of an Oscar-winning documentary, Fuyao Glass is a familiar name in the United States. Now, its founder has warned he is prepared to shut down his American plants if trade friction and tariffs cause severe losses. Responding to questions regarding geopolitical risks at the company’s annual general meeting, Cao Dewang said that the company would not engage in loss-making ventures. “How much in duties you want to impose is... https://www.scmp.com/economy/china-economy/article/3351347/billionaire-behind-american-factory-firm-warns-us-exit-amid-trade-friction-china?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3351347/billionaire-behind-american-factory-firm-warns-us-exit-amid-trade-friction-china?utm_source=rss_feed Sat, 25 Apr 2026 13:00:09 +0000 Ralph Jennings Ralph Jennings With bad loans and repayment collateral in focus, Chinese banks are increasingly using satellites to evaluate their clients’ terrestrial assets, mounting a hi-tech offensive to safeguard against rising credit risks. China Merchants Bank and Shanghai Pudong Development Bank started making use of satellites this year, following a 2022 launch by Ping An Bank and a 2020 move into satellite remote-sensing technology by Zhejiang E-Commerce Bank. Furthering the trend, the Postal Savings Bank of China... https://www.scmp.com/economy/china-economy/article/3351315/default-our-stars-chinas-banks-use-satellites-track-assets-sky-high-scrutiny?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3351315/default-our-stars-chinas-banks-use-satellites-track-assets-sky-high-scrutiny?utm_source=rss_feed Sat, 25 Apr 2026 02:00:11 +0000 He Huifeng He Huifeng Beijing is intensifying its enforcement against tax evasion, extending its reach into consumption taxes, which have been positioned as a critical source of stabilising local government finances that have been hit hard by the nation’s prolonged property crisis. Earlier this month, the State Taxation Administration (STA) released details of eight tax-violation cases involving sectors such as gold jewellery, alcoholic beverages and refined oil. The enforcement actions spanned multiple regions,... https://www.scmp.com/economy/china-economy/article/3351320/china-ramps-hunt-tax-evaders-frames-consumption-levies-fiscal-lifelines?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3351320/china-ramps-hunt-tax-evaders-frames-consumption-levies-fiscal-lifelines?utm_source=rss_feed Fri, 24 Apr 2026 14:00:14 +0000 He Huifeng He Huifeng Shortly after the doors opened each day at the ongoing Canton Fair, every corner of the robotics and drone halls quickly filled to capacity, while the new energy pavilion remained densely packed with overseas buyers. Foreign buyers moved slowly between booths, live streaming their encounters with new tech products to social media, queuing to try out the latest devices and in some cases, purchasing samples on the spot at the event, which started last Wednesday. The scenes reflect a broader shift... https://www.scmp.com/economy/china-economy/article/3350820/chinas-canton-fair-defies-global-trends-overseas-customers-flock-buy-robots-drones?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3350820/chinas-canton-fair-defies-global-trends-overseas-customers-flock-buy-robots-drones?utm_source=rss_feed Thu, 23 Apr 2026 02:00:08 +0000 Carol Yang Carol Yang China is embarking on a sweeping overhaul of its industrial architecture, aiming to fuse software and steel as part of a 100-trillion-yuan (US$14.7 trillion) undertaking to modernise its service sector while pushing manufacturing into the future. The State Council’s blueprint, unveiled on Tuesday, said the valuation target for the service sector was achievable by 2030 as advanced manufacturing increasingly becomes fused with specialised technical support. Analysts say Beijing’s plan will help... https://www.scmp.com/economy/china-economy/article/3351021/china-fuse-software-and-steel-us14tr-sector-fix-weak-links-worlds-factory?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3351021/china-fuse-software-and-steel-us14tr-sector-fix-weak-links-worlds-factory?utm_source=rss_feed Wed, 22 Apr 2026 11:00:15 +0000 Sylvia Ma Sylvia Ma The West’s narrative of Chinese “overcapacity” is a double standard, said a former chief economist of the World Bank as he urged advanced economies to draw on “Eastern wisdom” rather than protectionism to navigate the rise of hi-tech competition. Justin Lin Yifu, a prominent advocate of Beijing’s industrial policy, dismissed claims that China’s auto-export surge was a sign of industrial imbalance. Speaking at Hong Kong Chu Hai College, Lin drew a contrast with Germany to expose a logical... https://www.scmp.com/economy/china-economy/article/3350885/economist-justin-lin-urges-west-adopt-eastern-wisdom-china-moves-value-chain?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3350885/economist-justin-lin-urges-west-adopt-eastern-wisdom-china-moves-value-chain?utm_source=rss_feed Tue, 21 Apr 2026 13:00:12 +0000 Xinyi Wu Xinyi Wu Despite China’s stronger-than-expected first-quarter economic growth, young jobseekers found little respite as March brought a rise in youth unemployment across urban areas, snapping six straight months of decline. The jobless rate for the 16-to-24 age group, excluding students, edged up to 16.9 per cent in March from 16.1 per cent in February, according to data released by the National Bureau of Statistics on Tuesday. The job market, weighed down by deflationary pressures and external... https://www.scmp.com/economy/china-economy/article/3350813/chinas-youth-unemployment-crunch-deepens-record-graduation-season-looms?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3350813/chinas-youth-unemployment-crunch-deepens-record-graduation-season-looms?utm_source=rss_feed Tue, 21 Apr 2026 03:53:36 +0000 Ralph Jennings Ralph Jennings China’s central bank chief has urged the IMF to serve as a bulwark against “rising unilateralism”, at a time when escalating trade restrictions and an intensified Middle East conflict threaten energy and food security. The International Monetary Fund should “take a clear stand against protectionism and defend multilateralism”, People’s Bank of China governor Pan Gongsheng said in a statement to the fund’s International Monetary and Financial Committee, for its 53rd meeting, held on Thursday and... https://www.scmp.com/economy/global-economy/article/3350718/china-presses-imf-quota-reform-better-surveillance-advanced-economies?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3350718/china-presses-imf-quota-reform-better-surveillance-advanced-economies?utm_source=rss_feed Mon, 20 Apr 2026 09:05:04 +0000 Mia Nurmamat Mia Nurmamat Property tycoon Pan Shiyi issued a rare critique of China’s real estate sector, describing its development model as a “Ponzi scheme” and urging the industry to restore integrity and better protect homebuyers, just days after a fraud trial saw a guilty plea from the founder of China Evergrande – the US$300 billion debt juggernaut whose 2021 collapse triggered a systemic property meltdown. Writing from the United States on Thursday via his personal WeChat account, Pan reflected on the trajectory... https://www.scmp.com/economy/china-economy/article/3350448/tycoon-pan-shiyi-slams-china-property-ponzi-evergrande-boss-pleads-guilty?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3350448/tycoon-pan-shiyi-slams-china-property-ponzi-evergrande-boss-pleads-guilty?utm_source=rss_feed Fri, 17 Apr 2026 09:00:22 +0000 Mark Magnier Mark Magnier China has crafted markets, mechanisms and incentives as the world’s largest buyer of commodities in a bid to free itself from its dependence on the US dollar, but the biggest threat to Washington’s global dollar dominance may well be Washington itself, witnesses said in testimony on Thursday before a key advisory committee to the US Congress. Economic sanctions and access to US-led global banking systems are a powerful US tool that can be used to great effect, said experts before the US-China... https://www.scmp.com/news/us/economy-trade-business/article/3350382/why-biggest-threat-us-global-dollar-dominance-may-well-be-washington-itself?utm_source=rss_feed https://www.scmp.com/news/us/economy-trade-business/article/3350382/why-biggest-threat-us-global-dollar-dominance-may-well-be-washington-itself?utm_source=rss_feed Thu, 16 Apr 2026 23:42:50 +0000 Xinyi Wu Xinyi Wu Beijing has raised the limit on banks’ overseas lending – a move that analysts say will support Chinese firms in outbound investment expansions while helping to stabilise the yuan. Regulators raised the overseas-loan leverage ratio for foreign banks in China and their joint ventures with Chinese lenders from 0.5 to 1.5 on Wednesday, according to a statement published by the central bank and the foreign exchange regulator. In a separate statement, the regulators said that the new rules would... https://www.scmp.com/economy/china-economy/article/3350350/chinas-pboc-raises-leverage-ratios-foreign-lenders-support-outbound-investment?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3350350/chinas-pboc-raises-leverage-ratios-foreign-lenders-support-outbound-investment?utm_source=rss_feed Thu, 16 Apr 2026 12:30:13 +0000 Neil Denslow,Raymond Ma Neil Denslow,Raymond Ma China’s economy grew 5 per cent in the first quarter, surpassing expectations, as the nation weathered supply disruptions and higher oil prices caused by the US-Israeli war in Iran. Expansion accelerated from 4.5 per cent in the last three months of 2025, and beat the 4.9 per cent forecast among economists polled by Chinese financial data provider Wind. The number, announced on Thursday, hit the top end of the full-year growth target of 4.5-5 per cent. Quicker-than-expected growth reflected a... https://www.scmp.com/plus/economy/china-economy/article/3350304/chinas-economic-boom-masks-iran-war-slowdown?utm_source=rss_feed https://www.scmp.com/plus/economy/china-economy/article/3350304/chinas-economic-boom-masks-iran-war-slowdown?utm_source=rss_feed Thu, 16 Apr 2026 09:00:46 +0000 He Huifeng He Huifeng Rising tensions in the Middle East cast a fresh shadow over the opening of China’s largest trade fair, at a time when the impact of geopolitical shocks is being reflected in the nation’s trade figures. In conversations across sprawling exhibition halls after the Canton Fair opened its doors on Wednesday in China’s manufacturing hub of Guangzhou, domestic exporters and foreign buyers sounded each other out, trying to gauge how far those shocks might ripple through global trade. The threat of US... https://www.scmp.com/economy/global-economy/article/3350200/canton-fair-under-middle-east-cloud-sets-records-high-costs-hit-chinas-exporters?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3350200/canton-fair-under-middle-east-cloud-sets-records-high-costs-hit-chinas-exporters?utm_source=rss_feed Thu, 16 Apr 2026 00:00:13 +0000 Mia Nurmamat Mia Nurmamat China’s central government has publicly criticised several local authorities – including a relatively poor county in Sichuan province – for “imprudent” fiscal spending for the first time in an ongoing campaign urging officials to adopt a “correct view” of political performance. Among those named was a county in the southwestern province of Sichuan once ranked among the country’s poorest. Zhaojue county was said to have used transfer payments from higher-level governments to fund three tourism... https://www.scmp.com/economy/china-economy/article/3350133/sour-note-china-criticises-local-governments-imprudent-spending?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3350133/sour-note-china-criticises-local-governments-imprudent-spending?utm_source=rss_feed Wed, 15 Apr 2026 08:00:24 +0000 Xinyi Wu Xinyi Wu Faltering confidence in the US dollar has handed China a “golden window of opportunity” to promote the global use of its currency, according to a former head of the Chinese central bank. “The core driving force behind the current changes in the international monetary system is the United States’ own policy choices,” Zhou Xiaochuan was quoted as saying in a report published on Sunday by the New Economist, a Chinese think tank. He cited the broad application of American tariffs, the frequent use... https://www.scmp.com/economy/global-economy/article/3349868/yuans-golden-window-open-former-pboc-governor-says-us-dollar-credibility-teeters?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3349868/yuans-golden-window-open-former-pboc-governor-says-us-dollar-credibility-teeters?utm_source=rss_feed Mon, 13 Apr 2026 06:59:34 +0000