https://www.scmp.com/rss/510837/feed Beijing has launched wide-ranging regulatory crackdowns in sectors such as technology, education and entertainment. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Kandy Wong Kandy Wong Beijing’s decision to block Meta Platforms’ proposed acquisition of artificial intelligence firm Manus should not be seen as a restriction on foreign investment, Chinese state media said, urging companies in the sector to “go global when ready” and “pursue partnerships where appropriate”. “What stands out from Meta’s Manus deal is that the AI industry is transcending simple commercial logic,” Yuyuan Tantian, the influential social media account run by state broadcaster CCTV, said on Wednesday in... https://www.scmp.com/economy/china-economy/article/3352005/chinas-manus-block-warning-other-ai-firms-global-ambitions?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3352005/chinas-manus-block-warning-other-ai-firms-global-ambitions?utm_source=rss_feed Thu, 30 Apr 2026 15:00:10 +0000 Xinlu Liang Xinlu Liang A senior Chinese financial regulator and former graft fighter has been placed under investigation for corruption, officials announced on Tuesday, marking one of the highest-profile purges among China’s financial regulatory apparatus in recent years. Zhou Liang, vice-chairman of the National Financial Regulatory Administration (NFRA), is under investigation for “serious violations of discipline and law”, a euphemism for corruption, bribery and abuse of power, according to an announcement by the... https://www.scmp.com/news/china/politics/article/3347731/senior-chinese-financial-regulator-and-ex-graft-fighter-zhou-liang-under-corruption-probe?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3347731/senior-chinese-financial-regulator-and-ex-graft-fighter-zhou-liang-under-corruption-probe?utm_source=rss_feed Tue, 24 Mar 2026 10:58:44 +0000 Ji Siqi Ji Siqi China has pledged to strengthen artificial intelligence (AI) security, including through a new data property rights framework, at a time when users and businesses are rapidly adopting the highly coveted but controversial OpenClaw. On Monday, Liu Liehong, head of the National Data Administration, said security and compliance had become core challenges as AI spread across industry and daily life. Speaking at the China Development Forum, Liu cited challenges ranging from copyright disputes over... https://www.scmp.com/economy/china-economy/article/3347604/china-vows-stricter-ai-safeguards-openclaw-sparks-security-fears?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347604/china-vows-stricter-ai-safeguards-openclaw-sparks-security-fears?utm_source=rss_feed Mon, 23 Mar 2026 12:00:08 +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 Cao Li Cao Li The top executive of Wuliangye Yibin – China’s second-largest liquor producer – has come under investigation for suspected corruption. Zeng Congqin, 57, chairman and party secretary of the state-owned liquor giant, is suspected of serious violations of party discipline and law – a typical reference to corruption – the provincial anti-corruption body, Sichuan Discipline Inspection Commission, announced on Saturday night. Zeng is being investigated by authorities in Yibin, a major city in the... https://www.scmp.com/business/article/3345009/chairman-chinas-second-largest-liquor-producer-under-corruption-probe?utm_source=rss_feed https://www.scmp.com/business/article/3345009/chairman-chinas-second-largest-liquor-producer-under-corruption-probe?utm_source=rss_feed Sun, 01 Mar 2026 06:10:34 +0000 Carol Yang Carol Yang China has expanded its list of domestic systemically important banks (D-SIBs) – institutions subject to tighter regulatory standards – as authorities step up macroprudential oversight to safeguard financial stability amid high exposure to property sector debt. China Zheshang Bank, a joint-stock lender in east China’s Zhejiang province with total assets of 3.35 trillion yuan (US$485 billion), was added to the list released on Friday by the People’s Bank of China and the National Financial... https://www.scmp.com/economy/china-economy/article/3343580/china-expands-oversight-major-banks-amid-property-sector-risks?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3343580/china-expands-oversight-major-banks-amid-property-sector-risks?utm_source=rss_feed Sun, 15 Feb 2026 09:00:08 +0000 Luna Sun Luna Sun AstraZeneca’s former China head has been formally charged with medical insurance fraud, illegal trading and unlawful collection of personal information, more than a year after he first came under investigation – casting a shadow over the Swedish-British drug maker’s expansion in its second-largest market. The pharmaceutical giant confirmed to the Financial Times and Reuters that Leon Wang was one of two individuals indicted, as referenced in its latest earnings report published on Tuesday. The... https://www.scmp.com/economy/china-economy/article/3343522/china-charges-former-astrazeneca-executive-what-it-means-global-pharmaceutical-firms?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3343522/china-charges-former-astrazeneca-executive-what-it-means-global-pharmaceutical-firms?utm_source=rss_feed Fri, 13 Feb 2026 12:00:12 +0000 Sylvia Ma Sylvia Ma Authorities in the southern Chinese city of Shenzhen have warned gold market operators not to use exaggerated slogans such as “get rich by buying gold”, barring them from making inflated promises to retail investors after two trading platforms failed amid sharp price swings in global markets. Ten government departments – including the local financial regulatory bureau and the Shenzhen branch of the People’s Bank of China – issued a notice on Friday to “prevent and defuse market risks, protect... https://www.scmp.com/economy/economic-indicators/article/3343471/china-tightens-gold-trading-rules-shenzhen-after-platforms-collapse?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3343471/china-tightens-gold-trading-rules-shenzhen-after-platforms-collapse?utm_source=rss_feed Fri, 13 Feb 2026 10:05:11 +0000 Luna Sun Luna Sun A senior executive at one of China’s major policy banks has been placed under investigation, becoming the latest target in a sweeping official anti-corruption drive across the financial sector. Xu Yiding, vice-president of the Agricultural Development Bank of China (ADBC) and member of its Communist Party committee, is suspected of “serious violations of party discipline and the law”, according to the Central Commission for Discipline Inspection and the National Supervisory Commission. The two... https://www.scmp.com/economy/china-economy/article/3342816/farmers-son-banker-xu-yiding-under-investigation-chinas-anti-corruption-watchdog?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3342816/farmers-son-banker-xu-yiding-under-investigation-chinas-anti-corruption-watchdog?utm_source=rss_feed Sun, 08 Feb 2026 15:00:14 +0000 He Huifeng He Huifeng Following the sudden demise of a major gold trading platform in the southern Chinese city of Shenzhen, another retail-focused operator has suffered a run, stoking fears of contagion in China’s private market for the precious metal. The platform, Ydd007, is the latest to face trouble. On Sunday, it told investors that it had experienced three “severe runs” in recent days amid mounting industry panic. It also acknowledged a significant funding shortfall, according to Chengdu.cn, part of the... https://www.scmp.com/economy/china-economy/article/3342258/chinas-gold-trading-hub-rattled-second-platform-faces-payment-crisis?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3342258/chinas-gold-trading-hub-rattled-second-platform-faces-payment-crisis?utm_source=rss_feed Tue, 03 Feb 2026 12:02:49 +0000 Alice Li Alice Li China has ramped up audits involving online influencers and high-wage earners, as part of broader efforts to expand tax revenue and refine the taxation system. The State Taxation Administration on Wednesday spotlighted two fresh cases involving influencers in the centrally administered city of Chongqing and in Gansu province. In Chongqing, authorities ordered an influencer surnamed Peng – who has 30 million followers and works in online video production and commercial advertising – to pay 4.15... https://www.scmp.com/economy/china-economy/article/3340007/china-targets-wealthy-influencers-audits-fines-fiscal-pressures-rise?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3340007/china-targets-wealthy-influencers-audits-fines-fiscal-pressures-rise?utm_source=rss_feed Thu, 15 Jan 2026 12:00:09 +0000 William Zheng William Zheng The mainland Chinese military’s Eastern Theatre Command, the corruption-hit division that oversees Taiwan, appears to be headed by two recent additions to the command. The appointments will enable the command to maintain continuity of operations despite the corruption cases among its leadership, according to an analyst. PLA Air Force Lieutenant General Yang Zhibin, 62, and Lieutenant General Zhang Jichun, 57, stood alongside other senior officials at mainland China’s annual commemoration of the... https://www.scmp.com/news/china/military/article/3336778/pla-division-overseeing-taiwan-sees-newcomers-charge?utm_source=rss_feed https://www.scmp.com/news/china/military/article/3336778/pla-division-overseeing-taiwan-sees-newcomers-charge?utm_source=rss_feed Wed, 17 Dec 2025 09:49:35 +0000 Mia Nurmamat Mia Nurmamat China’s tax authorities have told internet platforms to avoid passing tax obligations onto gig workers, tightening industry oversight while stepping up a crackdown on tax-dodging internet influencers. “Platforms should not disguise additional fees during tax withholding and remittance processes, nor should they use such processes to shift tax obligations and increase gig workers’ burdens,” officials from the State Taxation Administration said at a press conference on Monday. As regulation of the... https://www.scmp.com/economy/china-economy/article/3335634/china-warns-internet-platforms-not-shift-tax-burden-gig-workers?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3335634/china-warns-internet-platforms-not-shift-tax-burden-gig-workers?utm_source=rss_feed Mon, 08 Dec 2025 11:30:16 +0000 William Zheng William Zheng Another senior official in Xinjiang has been placed under investigation amid Beijing’s vow to resolutely “eradicate the soil for corruption”. Chen Weijun, executive vice-chairman of Xinjiang Uygur autonomous region, was “under disciplinary review and supervisory investigation” for suspected “serious violations of discipline and law”, China’s top anti-graft agency said on Sunday, referencing a euphemism for corruption. The announcement from the Central Commission for Discipline Inspection (CCDI)... https://www.scmp.com/news/china/politics/article/3334793/no-soil-corruption-chen-weijun-joins-list-senior-xinjiang-officials-investigated?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3334793/no-soil-corruption-chen-weijun-joins-list-senior-xinjiang-officials-investigated?utm_source=rss_feed Mon, 01 Dec 2025 11:25:10 +0000 Sylvie Zhuang Sylvie Zhuang Grass-roots enthusiasm has played the main role in shaping China’s online nationalist narrative and has pushed celebrities to follow, according to a study published in the American peer-reviewed journal Science Advances last week. Contrary to the common perception that nationalism on Chinese social media space is more top down and that Beijing uses such platforms to influence or control public opinion, the study jointly done by researchers from leading universities in the United States and... https://www.scmp.com/news/china/politics/article/3332870/are-chinas-stars-leading-fans-be-more-nationalist-or-other-way-round?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3332870/are-chinas-stars-leading-fans-be-more-nationalist-or-other-way-round?utm_source=rss_feed Sat, 15 Nov 2025 04:00:14 +0000 Danielle Popov Danielle Popov China’s cyberspace regulator has issued warnings to ByteDance’s news aggregator Jinri Toutiao and Alibaba Group Holding’s internet browser operator UCWeb for inadequate content moderation, adding to a series of recent crackdowns targeting trending topics in online platforms. In separate statements issued on Tuesday, the Cyberspace Administration of China (CAC) accused both companies of “damaging the online ecosystem”. The regulator said Toutiao displayed “unhealthy content” on its hot search... https://www.scmp.com/tech/policy/article/3326658/china-warns-bytedance-alibaba-platforms-latest-crackdown-trending-topic-violations?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3326658/china-warns-bytedance-alibaba-platforms-latest-crackdown-trending-topic-violations?utm_source=rss_feed Wed, 24 Sep 2025 07:35:09 +0000 Ben Jiang Ben Jiang The operator of China’s second-most popular short video app, Kuaishou Technology, and microblogging platform Weibo came under scrutiny from the nation’s top internet regulator for allegedly “damaging the online ecosystem” due to lax content control. Kuaishou and Weibo had failed to manage content effectively, allowing celebrity gossip to infiltrate their trending topics, according to two notices published on the Cyberspace Administration of China (CAC)’s WeChat public account on Saturday. The... https://www.scmp.com/tech/big-tech/article/3326376/china-warns-kuaishou-weibo-over-celebrity-gossip-amid-crackdown-online-content?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3326376/china-warns-kuaishou-weibo-over-celebrity-gossip-amid-crackdown-online-content?utm_source=rss_feed Mon, 22 Sep 2025 10:00:17 +0000 Xinlu Liang Xinlu Liang Chinese authorities have announced new rules targeting the rapid expansion of medical science accounts on social media and other unofficial channels, to stop the spread of false and misleading medical information online. The Cyberspace Administration of China (CAC), the National Health Commission (NHC), the State Administration for Market Regulation (SAMR), and the National Administration of Traditional Chinese Medicine (NATCM) jointly issued a notice about the new regulatory framework on August... https://www.scmp.com/news/china/politics/article/3322803/china-cracks-down-fake-medical-advice-new-rules-health-influencers?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3322803/china-cracks-down-fake-medical-advice-new-rules-health-influencers?utm_source=rss_feed Fri, 22 Aug 2025 08:46:06 +0000 Carol Yang Carol Yang Chinese shipments of urea – a major fertiliser and chemical used to reduce emissions – have surged after Beijing reportedly eased an export ban imposed last year to curb domestic prices and maintain food security. Analysts said exports of the chemical – a type of nitrogen used in agriculture as well as to curb diesel and industrial emissions – may continue rising in August and September, as a large portion of the quota remained unused and shipments to India might resume. China exported 567,184... https://www.scmp.com/economy/china-economy/article/3322622/chinas-shipments-major-fertiliser-surge-600-signalling-softer-export-curbs?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3322622/chinas-shipments-major-fertiliser-surge-600-signalling-softer-export-curbs?utm_source=rss_feed Thu, 21 Aug 2025 06:01:54 +0000 Ji Siqi Ji Siqi Beijing has signalled stronger action against price wars, convening a high-level symposium of enterprises and regulators – including many left out of previous meetings – to tackle cutthroat competition in the solar sector. Authorities vowed to tighten oversight of new project investments, phasing out outdated capacity through market-based and rule-of-law approaches, according to the Ministry of Industry and Information Technology (MIIT), one of the meeting’s hosts. “Efforts will focus on... https://www.scmp.com/economy/china-economy/article/3322512/china-expands-regulatory-arsenal-fight-against-solar-industry-price-wars?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3322512/china-expands-regulatory-arsenal-fight-against-solar-industry-price-wars?utm_source=rss_feed Wed, 20 Aug 2025 09:30:09 +0000 Alice Li Alice Li With e-commerce platforms locked in fierce competition for China’s instant retail market, a prominent Chinese economist has called for government guidance that balances regulatory oversight with innovation and a push for new growth drivers. Wang Yiming, a central bank adviser, said “quick commerce” – involving the rapid delivery of food and essential goods, often within 30 minutes – creates new opportunities for consumption, which could be vital for long-term growth. He urged officials to guide... https://www.scmp.com/economy/china-economy/article/3321478/china-urged-curb-excessive-cash-burn-not-competition-fight-neijuan?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3321478/china-urged-curb-excessive-cash-burn-not-competition-fight-neijuan?utm_source=rss_feed Tue, 12 Aug 2025 02:00:09 +0000 Alice Li Alice Li China’s debt relief campaign for local governments, launched last year, has delivered its first major success story after Inner Mongolia exited the central government’s high-risk list. The autonomous region was among 12 province-level jurisdictions flagged by Beijing for risky debt levels, with its exit revealed in a local budget review discussed internally in late July but only released to the public earlier this week. “[We must] consolidate the progress made in exiting the list of key... https://www.scmp.com/economy/china-economy/article/3320917/chinas-campaign-ease-local-government-debt-scores-first-big-win-inner-mongolia?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3320917/chinas-campaign-ease-local-government-debt-scores-first-big-win-inner-mongolia?utm_source=rss_feed Wed, 06 Aug 2025 06:16:04 +0000 Ralph Jennings Ralph Jennings Chinese authorities have tightened oversight of imported Vietnamese durians this year after finding “excessive levels” of two potentially harmful substances in the popular, high-value fruit. The General Administration of Customs of China now requires enhanced pre-export safety checks and compliance testing before shipments leave the source country, with “qualified” test reports to be attached to durians, a customs official told the Post, requesting anonymity due to internal rules. She said the... https://www.scmp.com/economy/china-economy/article/3320379/china-toughens-import-rules-vietnamese-durians-after-detecting-health-risks?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3320379/china-toughens-import-rules-vietnamese-durians-after-detecting-health-risks?utm_source=rss_feed Sat, 02 Aug 2025 04:00:13 +0000 Ji Siqi Ji Siqi Beijing has further institutionalised its export-control regime on critical minerals – widely considered a trump card held by Chinese authorities in trade negotiations with the US – as officials intensify crackdowns on smuggling. In the two months since China launched a campaign to combat illegal exports of strategic minerals, authorities have identified attempts by “a small number of lawbreakers” to circumvent regulations through various means, leading to escalating risks of illegal technology... https://www.scmp.com/economy/global-economy/article/3319473/china-steps-protect-trade-war-edge-rare-earth-smugglers-get-creative?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3319473/china-steps-protect-trade-war-edge-rare-earth-smugglers-get-creative?utm_source=rss_feed Thu, 24 Jul 2025 14:00:08 +0000 June Xia June Xia Stimulating consumer demand and encouraging sustainable innovation are vital to China’s efforts to combat excessive competition – termed neijuan in Chinese, or “involution” - and could even help turn the trend into a virtuous cycle, analysts said. Top-down macroeconomic policies are also crucial, as actions taken by enterprises alone are insufficient, they added. “The essence of ‘involutional’ competition is inefficient competition in a limited market space,” analysts from China International... https://www.scmp.com/economy/china-economy/article/3319009/china-urged-curb-neijuan-boosting-domestic-consumption-innovation-led-growth?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3319009/china-urged-curb-neijuan-boosting-domestic-consumption-innovation-led-growth?utm_source=rss_feed Mon, 21 Jul 2025 11:30:07 +0000 Xiaofei Xu Xiaofei Xu China's top leaders have raised concerns about excessive competition in the domestic market in recent weeks, signalling a shift in policy priorities. In a meeting chaired by President Xi Jinping on July 1, the Central Finance and Economic Affairs Commission said Beijing needs to “focus on key and difficult issues, regulate enterprises’ disorderly and low-price competition” and “guide enterprises to improve product quality and promote the orderly exit of outdated production capacity”. The... https://www.scmp.com/economy/china-economy/article/3318110/why-chinas-fight-against-excessive-competition-different-past-reforms?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3318110/why-chinas-fight-against-excessive-competition-different-past-reforms?utm_source=rss_feed Mon, 14 Jul 2025 05:57:19 +0000 June Xia June Xia Catering at luxury hotels typically involves high-end banquets and formal entertainment, with exquisite decor and masterfully crafted dishes often seen as worth the high price tag. But for many consumers in China, that is changing. In July, the five-star Zhongwu Hotel in Changzhou, Jiangsu province – ranked second among 10 luxury hotels in the city on Trip.com – surprised observers when it launched a street vendor service offering budget meal boxes prepared by its catering team. “You must first... https://www.scmp.com/economy/china-economy/article/3317876/chinas-luxury-hotels-sell-street-food-survive-tough-business-climate?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3317876/chinas-luxury-hotels-sell-street-food-survive-tough-business-climate?utm_source=rss_feed Sun, 13 Jul 2025 08:00:11 +0000 Xiaofei Xu Xiaofei Xu The European Union is facing growing calls to act against Beijing’s dominance over rare earth supply chains, highlighting persistent tensions just weeks before the coming EU-China summit. “Europe faces dual coercion: Trump’s tariffs and more threateningly, China’s strategic chokehold on rare earth exports,” said Bart Groothuis, MEP for Renew Europe, a centrist group in the European Parliament led by French President Emmanuel Macron’s Renaissance party. “This is not collateral damage from the... https://www.scmp.com/economy/global-economy/article/3317683/chinas-rare-earth-export-curbs-spark-eu-concerns-ahead-beijing-summit?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3317683/chinas-rare-earth-export-curbs-spark-eu-concerns-ahead-beijing-summit?utm_source=rss_feed Thu, 10 Jul 2025 08:00:12 +0000 Xiaofei Xu Xiaofei Xu China is expected to maintain a strategic edge over the United States in the rare earth industry, thanks to Beijing’s long-term investments in advanced mining and processing technologies. In contrast, the US is paying the price for decades of underinvestment, obsolete policies and the absence of a coherent strategy, according to a report by the New York-based business intelligence firm Strategy Risks. The warning came as Beijing increasingly leverages its dominance in the global rare earth... https://www.scmp.com/economy/china-economy/article/3317546/chinas-rare-earth-dominance-continue-us-investment-lags-analysts?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3317546/chinas-rare-earth-dominance-continue-us-investment-lags-analysts?utm_source=rss_feed Wed, 09 Jul 2025 09:30:09 +0000 Kandy Wong Kandy Wong Beijing’s recent export controls on rare earths have spurred a flurry of international efforts to diversify supply chains and reduce China’s long-standing dominance in critical minerals. In June, the Ministry of Commerce announced that it would approve qualified export applications and was open to discussions with other countries regarding the restrictions. But as rare earths emerge as a new front in the US-China rivalry, companies worldwide have announced plans for a string of projects designed... https://www.scmp.com/economy/china-economy/article/3317330/chinas-rare-earth-dominance-faces-global-pushback-beijing-has-strong-hand-analysts?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3317330/chinas-rare-earth-dominance-faces-global-pushback-beijing-has-strong-hand-analysts?utm_source=rss_feed Tue, 08 Jul 2025 06:00:19 +0000 Zhou Xin Zhou Xin Education department authorities of China’s Inner Mongolia autonomous region did an unusual thing over the weekend. They opened the 2008 files of the gaokao, the national college entrance exam, to determine if rising mainland actress Nashi had committed fraud to enrol in the prestigious Shanghai Theatre Academy (STA). That investigation was initiated after the 35-year-old Nashi caused an outcry on Chinese social media when the actress hinted online that she had not “played fair” in her exam 17... https://www.scmp.com/opinion/china-opinion/article/3315513/china-just-society-economic-woes-erode-public-perception-fairness?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3315513/china-just-society-economic-woes-erode-public-perception-fairness?utm_source=rss_feed Mon, 23 Jun 2025 23:00:15 +0000 Alice Li Alice Li China’s top cybersecurity watchdog, in coordination with financial regulators, has shut down over a dozen social media accounts for spreading false financial information, illegally touting stocks, and promoting speculative cryptocurrency trading. The Cyberspace Administration of China (CAC) said on Saturday that the accounts had operated on China’s most popular social media platforms, including Weibo, Douyin, RedNote and WeChat. The CAC said some accounts had spread false or misleading... https://www.scmp.com/economy/china-economy/article/3311664/chinas-internet-watchdog-cracks-down-false-financial-claims-stock-touting-online?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3311664/chinas-internet-watchdog-cracks-down-false-financial-claims-stock-touting-online?utm_source=rss_feed Sat, 24 May 2025 09:13:22 +0000 Kandy Wong Kandy Wong Chinese authorities have pledged to crack down on critical minerals smuggling in a detailed plan that builds upon recent restrictions on rare earths amid a trade war with the United States. Officials from the Commerce Ministry, Public Security Ministry, General Administration of Customs and Supreme People’s Court among others gathered in Shenzhen on Friday to discuss export controls on the strategic resources tied to national security and developmental interests, according to an official... https://www.scmp.com/economy/china-economy/article/3309773/china-targets-smugglers-strengthen-export-controls-critical-minerals?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3309773/china-targets-smugglers-strengthen-export-controls-critical-minerals?utm_source=rss_feed Fri, 09 May 2025 11:30:10 +0000 Beijing has further tightened its management of rural government workers with revised anti-corruption supervision rules for grass-roots officials. The changes mean that after more than a decade of anti-corruption campaigns, China’s system for supervising rural officials has finally been defined, according to one scholar. The revised Regulations on the Honest Performance of Duties by Rural Grass-roots Officials came into force on March 28, state news agency Xinhua reported last week. The document... https://www.scmp.com/news/china/politics/article/3308082/china-extends-anti-corruption-rules-village-chiefs-and-other-grass-roots-officials?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3308082/china-extends-anti-corruption-rules-village-chiefs-and-other-grass-roots-officials?utm_source=rss_feed Sun, 27 Apr 2025 10:00:12 +0000 Bloomberg Bloomberg Beijing Smart Walnut Education Technology, a provider of services that help children learn to code, is one of several Chinese firms considering initial public offerings (IPOs) in the United States, despite market turmoil and friction between Washington and Beijing, according to people familiar with the matter. Walnut Coding, as the firm is known, could seek to raise about US$100 million in a US listing, the people said, asking not to be identified because the deliberations are private. Other... https://www.scmp.com/tech/tech-trends/article/3307452/chinese-tech-companies-eye-us-listings-amid-market-turmoil-trade-war?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3307452/chinese-tech-companies-eye-us-listings-amid-market-turmoil-trade-war?utm_source=rss_feed Tue, 22 Apr 2025 09:23:37 +0000 China’s policymakers are increasingly lauding online platforms as an important driver of consumption and job creation, in another sign of the government’s shifting attitude towards the sector. Top officials have made a string of supportive comments in recent months as Beijing mounts a charm offensive aimed at shoring up economic growth, attracting investment and boosting domestic demand amid an intensifying trade war with the United States. Vice-Premier Zhang Guoqing called on tech platforms to... https://www.scmp.com/economy/china-economy/article/3303977/china-mends-fences-big-tech-consumption-employment-push?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3303977/china-mends-fences-big-tech-consumption-employment-push?utm_source=rss_feed Wed, 26 Mar 2025 11:00:09 +0000 China’s securities association has published new draft guidelines that will penalise companies whose staff flaunt their wealth and privilege, as Beijing continues its drive to remould an industry once known for its lavish lifestyle. In the proposed revisions to its rules, the Securities Association of China has added tougher points deductions for firms that “offer questionable pay incentives”, or whose staff “flaunt wealth” and indulge in “excessive luxury”, Chinese financial media outlet... https://www.scmp.com/economy/china-economy/article/3301523/stop-flaunting-wealth-chinese-bankers-told-new-guidelines?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3301523/stop-flaunting-wealth-chinese-bankers-told-new-guidelines?utm_source=rss_feed Mon, 10 Mar 2025 01:00:18 +0000 British-Swedish pharmaceutical giant AstraZeneca endured a torrid time in China last year, as it underwent several investigations and saw one of its senior executives detained by authorities. But there are signs the company may be on the road to redemption amid Beijing’s push to attract foreign investment and boost confidence in the private sector. On Thursday, an official from China’s Ministry of Industry and Information Technology (MIIT) singled out AstraZeneca’s new small-molecule drug... https://www.scmp.com/economy/china-economy/article/3299615/signs-relief-astrazeneca-china-courts-foreign-investors?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3299615/signs-relief-astrazeneca-china-courts-foreign-investors?utm_source=rss_feed Fri, 21 Feb 2025 08:10:08 +0000 Coco Feng Coco Feng Chinese start-up Manycore Tech, operator of the world’s largest spatial design platform, has applied for an initial public offering (IPO) in Hong Kong, three years after its attempt to list on the Nasdaq stock exchange lapsed. The company – based in Hangzhou, capital of eastern Zhejiang province – is recognised as one of the city’s “Six Little Dragons” that includes artificial intelligence (AI) company DeepSeek, Black Myth: Wukong developer Game Science, humanoid robot maker Unitree,... https://www.scmp.com/tech/tech-trends/article/3298839/chinese-spatial-design-firm-manycore-tech-files-ipo-hong-kong?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3298839/chinese-spatial-design-firm-manycore-tech-files-ipo-hong-kong?utm_source=rss_feed Sat, 15 Feb 2025 11:16:41 +0000 The deputy head of a major state-owned ordnance equipment manufacturer has become the latest defence boss targeted by China’s far-reaching anti-corruption campaign. The Central Commission for Discipline Inspection (CCDI) announced on Wednesday that Liu Weidong, deputy general manager of China South Industries Group Corporation (CSGC), was under investigation on suspicion of “serious violations of Communist Party discipline and the law” – which is usually a reference to corruption. CSGC, also... https://www.scmp.com/news/china/military/article/3298417/chinese-defence-industry-exec-liu-weidong-under-investigation-alleged-corruption?utm_source=rss_feed https://www.scmp.com/news/china/military/article/3298417/chinese-defence-industry-exec-liu-weidong-under-investigation-alleged-corruption?utm_source=rss_feed Wed, 12 Feb 2025 12:19:14 +0000 Several state-backed financial institutions in China have already placed annual salary caps on their senior executives, the Post has learned, as Beijing pushes forward with a campaign to narrow the wealth gap. The finance sector has been one of the main targets of China’s “common prosperity” drive, which has seen the industry hit with stricter regulatory supervision, rampant pay cuts and even some lay-offs in the past year. The Post previously reported that China’s state-backed financial... https://www.scmp.com/economy/china-economy/article/3295952/salary-caps-spread-chinas-finance-sector-amid-common-prosperity-drive?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3295952/salary-caps-spread-chinas-finance-sector-amid-common-prosperity-drive?utm_source=rss_feed Thu, 23 Jan 2025 07:55:35 +0000 Zhejiang, one of China’s richest provinces, has vowed to achieve “common prosperity” by 2035 – a marquee policy goal of President Xi Jinping that sparked extensive debate upon its unveiling, but has been a less frequent subject of official rhetoric since. The manufacturing powerhouse and innovation hub in eastern China has laid out a four-phase road map to prosperity for all its people in a decade’s time, according to a press conference held on Monday by the provincial government. Referring to a... https://www.scmp.com/economy/policy/article/3293748/chinas-powerhouse-province-renews-common-prosperity-pledge-2035?utm_source=rss_feed https://www.scmp.com/economy/policy/article/3293748/chinas-powerhouse-province-renews-common-prosperity-pledge-2035?utm_source=rss_feed Tue, 07 Jan 2025 09:05:27 +0000 Alice Yan Alice Yan The recent announcement that famous Chinese actress Vicki Zhao Wei had divorced her husband Huang Youlong years ago has sparked a heated discussion on why she revealed the news at the time she did. The 48-year-old star who was a household name in China and was dubbed a “national Goddess”, due to the popularity of TV drama series My Fair Princess in which she starred. Zhao was effectively blacklisted for “having misdeeds” by the Chinese authorities in 2021, with all the TV series and films she... https://www.scmp.com/news/people-culture/china-personalities/article/3292872/speculation-surrounds-china-actress-zhao-weis-divorce-debt-ridden-husband?utm_source=rss_feed https://www.scmp.com/news/people-culture/china-personalities/article/3292872/speculation-surrounds-china-actress-zhao-weis-divorce-debt-ridden-husband?utm_source=rss_feed Thu, 02 Jan 2025 06:00:09 +0000 Beijing has stripped two more generals in the People’s Liberation Army of their lawmaker status, as China continues a wider anti-corruption drive into the country’s military. In a notice on Wednesday, the Standing Committee of the National People’s Congress (NPC) confirmed that Lieutenant General You Haitao, former deputy commander of China’s army, and Vice-Admiral Li Pengcheng, former naval commander of the PLA Southern Theatre Command, had been removed from the country’s top legislature. A... https://www.scmp.com/news/china/military/article/3292317/2-more-chinese-generals-fall-after-anti-graft-campaign-delivers-big-changes-military?utm_source=rss_feed https://www.scmp.com/news/china/military/article/3292317/2-more-chinese-generals-fall-after-anti-graft-campaign-delivers-big-changes-military?utm_source=rss_feed Thu, 26 Dec 2024 06:03:54 +0000 China’s engineering prowess has been nothing short of extraordinary. From world-class infrastructure and eco-friendly cities to space systems and high-speed trains, China’s impressive accumulation of state-of-the-art physical capital has played a dominant role in driving its economy. But China’s physical engineering accomplishments on the supply side have not been transferable to social engineering efforts on the demand side, especially in stimulating consumer demand. The disconnect arises out... https://www.scmp.com/opinion/china-opinion/article/3291661/why-china-will-struggle-boost-consumption?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3291661/why-china-will-struggle-boost-consumption?utm_source=rss_feed Fri, 20 Dec 2024 08:30:08 +0000 The Communist Party chief of Shanghai’s Pudong New Area, Zhu Zhisong, is under investigation on suspicion of corruption. The Central Commission for Discipline Inspection (CCDI) said on Wednesday that Zhu, 55, an aerospace veteran, was suspected of committing “serious violations of discipline and law” – a euphemism for corruption. Zhu is the first party chief of Shanghai’s Pudong New Area to come under investigation since the district, a major testing ground for China’s economic reforms, was... https://www.scmp.com/news/china/politics/article/3288357/china-investigates-shanghai-free-trade-zone-party-chief-corruption?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3288357/china-investigates-shanghai-free-trade-zone-party-chief-corruption?utm_source=rss_feed Wed, 27 Nov 2024 09:02:29 +0000 Some local-level authorities across China appear to be stepping up crackdowns on tax evasion among internet streamers, as flagging tax revenue has weighed heavy on local economies, and analysts expect such investigations to be more common in the near future. On Friday, China’s State Taxation Administration announced three cases of tax evasion from 2020-23 involving live-streaming influencers, and hefty fines were imposed, according to a statement on its official website. In one case, Sichuan... https://www.scmp.com/economy/china-economy/article/3286793/chinas-tax-man-coming-live-streamers-who-evade-taxes-local-economies-struggle?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3286793/chinas-tax-man-coming-live-streamers-who-evade-taxes-local-economies-struggle?utm_source=rss_feed Fri, 15 Nov 2024 14:00:09 +0000 Zhou Xin Zhou Xin China’s newly published draft private-economy promotion law should be welcomed by investors, as it shows that Beijing is genuinely concerned about its private sector and is determined to stop local authorities from their dirty tricks against private businesses. Some people may argue that in a mature market economy where property rights are enshrined in the law, an additional law designed to protect the private economy would be redundant. But in China’s environment, it has become not only... https://www.scmp.com/opinion/china-opinion/article/3282248/china-shows-determination-shore-business-confidence-unusual-private-economy-law?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3282248/china-shows-determination-shore-business-confidence-unusual-private-economy-law?utm_source=rss_feed Mon, 14 Oct 2024 23:00:09 +0000 China is cracking down on behaviours from law enforcement seen as detrimental to the ordinary function of private businesses, a crucial step in restoring confidence as the country embarks on a whole-of-government effort to ensure a steady, sustainable economic recovery. Jurisdiction-breaking trips by officers to detain suspects, arbitrary fines and disparities in the punishments meted out to private and public entities have all been areas of frustration for China’s enterprises. As Beijing... https://www.scmp.com/economy/china-economy/article/3281899/china-curbs-excessive-law-enforcement-quest-quell-private-sector-doubts?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3281899/china-curbs-excessive-law-enforcement-quest-quell-private-sector-doubts?utm_source=rss_feed Fri, 11 Oct 2024 01:00:20 +0000 Reading publications with “serious political problems” has become an increasingly common accusation levelled at disgraced officials by China’s anti-corruption agencies, who cite it as proof of disloyalty. Among them is Li Bin, a former vice-director of the municipal legislature of Mudanjiang in northeastern Heilongjiang province. He was expelled from the Communist Party on suspicions of corruption late last month. However, municipal corruption inspectors did not lead with claims of corrupt... https://www.scmp.com/news/china/politics/article/3280483/china-throws-book-more-corruption-suspects-hit-claims-illicit-reading?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3280483/china-throws-book-more-corruption-suspects-hit-claims-illicit-reading?utm_source=rss_feed Mon, 07 Oct 2024 04:00:09 +0000