https://www.scmp.com/rss/511423/feed Mia Nurmamat (previously bylined as Mia Nulimaimaiti) joined the Post in August 2022. She holds a master’s degree from the University of Hong Kong and a bachelor’s from Fudan University. She interned at NBC's Asia desk before joining the Post. Her areas of focus are trade and macroeconomics. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Mia Nurmamat Mia Nurmamat On a Monday morning, Li Hangyan hurried through the doors of her shop, just as she does every day. Lately, however, the pace of work has picked up as a growing stream of customers arrives with questions about orders ahead of the 2026 Fifa World Cup. In Yiwu, a city in eastern China’s Zhejiang province about 300km (186 miles) from Shanghai and home to the world’s largest wholesale market for small commodities, foreign buyers from across the globe are once again gathering to source goods. At Li’s... https://www.scmp.com/economy/china-economy/article/3352306/how-chinese-city-netting-profits-amid-world-cup-fever?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3352306/how-chinese-city-netting-profits-amid-world-cup-fever?utm_source=rss_feed Tue, 05 May 2026 13:00:06 +0000 Mia Nurmamat Mia Nurmamat As the Middle East conflict spreads uncertainty among farmers around the world, Chinese farmers are carrying out their spring ploughing as usual and appear largely untroubled. “The supply of chemical fertilisers for spring ploughing is ample,” an official with the Ministry of Agriculture and Rural Affairs said at a news conference last month, adding that domestic fertiliser prices were “far lower than international prices” and spring sowing was proceeding as normal. While policymakers around the... https://www.scmp.com/economy/china-economy/article/3352366/how-middle-east-crisis-expanding-chinas-agrochemical-influence?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3352366/how-middle-east-crisis-expanding-chinas-agrochemical-influence?utm_source=rss_feed Mon, 04 May 2026 22:00:10 +0000 Mia Nurmamat Mia Nurmamat A strong El Nino expected later this year, together with the fallout from the US-Israeli war on Iran, may threaten China’s agricultural security as the country’s traditional small-scale farming system lacks sufficient capacity to cope with extreme weather shocks, analysts have warned. The climate phenomenon also risked disrupting China’s supply of critical commodities, such as copper – essential for renewable energy systems – potentially forcing the energy-intensive economy to lean more heavily... https://www.scmp.com/economy/china-economy/article/3352028/fallow-farms-more-coal-burning-and-copper-shortages-how-el-nino-could-affect-china?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3352028/fallow-farms-more-coal-burning-and-copper-shortages-how-el-nino-could-affect-china?utm_source=rss_feed Sun, 03 May 2026 12:00:10 +0000 Frank Chen,Mia Nurmamat Frank Chen,Mia Nurmamat China may gain from the United Arab Emirates (UAE) withdrawing from the Organisation of Petroleum Exporting Countries (Opec), benefiting from additional supply as global oil markets face growing strain three months into the US-Israeli war in Iran, analysts said. The UAE – Opec’s third-largest producer, accounting for about 12 per cent of its total output – will formally leave the bloc on May 1. UAE Energy Minister Suhail Mohamed al-Mazrouei told CNBC that it was the “right time” to exit, adding... https://www.scmp.com/economy/global-economy/article/3351849/why-china-may-benefit-uaes-opec-withdrawal-amid-iran-war-oil-crisis?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3351849/why-china-may-benefit-uaes-opec-withdrawal-amid-iran-war-oil-crisis?utm_source=rss_feed Wed, 29 Apr 2026 13:00:08 +0000 Mia Nurmamat Mia Nurmamat China’s shipyards are emerging as beneficiaries from the US-Israeli war on Iran, securing new orders as crude transport bottlenecks worsen and global demand for large oil tankers rises. With the United States and Iran effectively blockading the Strait of Hormuz – a chokepoint that handles about a quarter of the world’s seaborne oil – shipping companies are racing to expand capacity, particularly in very large crude carriers (VLCCs) capable of transporting about 2 million barrels of oil per... https://www.scmp.com/economy/global-economy/article/3350872/chinas-shipyards-secure-wave-oil-tanker-orders-iran-war-drives-demand?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3350872/chinas-shipyards-secure-wave-oil-tanker-orders-iran-war-drives-demand?utm_source=rss_feed Wed, 22 Apr 2026 00:00:20 +0000 Mia Nurmamat Mia Nurmamat China’s trade with Iran and Gulf countries fell sharply in March as restrictions on the Strait of Hormuz tightened amid the US-Israeli war on Iran. Newly released data by Chinese customs showed imports from Iran plunged 48 per cent year on year last month, while exports to the country dropped 90 per cent. Across the broader Middle East, exports to eight Persian Gulf economies – including Saudi Arabia and Qatar – fell by 57 per cent, while imports declined by nearly 33 per cent. The disruption... https://www.scmp.com/economy/china-economy/article/3350703/chinas-trade-iran-gulf-states-plunges-strait-hormuz-crisis-hits-energy-flows?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3350703/chinas-trade-iran-gulf-states-plunges-strait-hormuz-crisis-hits-energy-flows?utm_source=rss_feed Mon, 20 Apr 2026 08:06:21 +0000 Mia Nurmamat Mia Nurmamat Qiu has been scouring Shanghai’s labour agencies for a job for her 58-year-old father – a former mechanic from neighbouring Jiangsu province caught in a frustrating limbo. While he is still years away from the official retirement age for rural migrants, his struggle to find work underscores a paradox in China’s financial hub: even as the city desperately needs more workers to counter a shrinking population, ageing jobseekers are being met with high fees and physical exhaustion. His search... https://www.scmp.com/economy/china-economy/article/3350484/more-jobs-elderly-shanghai-eyes-senior-labour-force-amid-china-demographic-crisis?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3350484/more-jobs-elderly-shanghai-eyes-senior-labour-force-amid-china-demographic-crisis?utm_source=rss_feed Sun, 19 Apr 2026 08:00:13 +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 Mia Nurmamat Mia Nurmamat China’s food supply could be vulnerable to global price spikes triggered by extreme weather or global conflict, as international bodies warn the US-Israel war on Iran is worsening food insecurity worldwide. The country has sufficient staple grain supplies, but Beijing said the nation’s food sector still faced structural challenges, including a weak processing industry and a lack of high-quality crop varieties in some areas. These weaknesses could pose problems for China if global food markets... https://www.scmp.com/economy/china-economy/article/3350320/china-warns-food-security-risks-iran-war-threatens-global-supplies?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3350320/china-warns-food-security-risks-iran-war-threatens-global-supplies?utm_source=rss_feed Fri, 17 Apr 2026 02:00:23 +0000 Xinyi Wu,Mia Nurmamat Xinyi Wu,Mia Nurmamat China’s economy grew 5 per cent year on year in the first quarter, beating market expectations despite the global impact of the US-Israel war in Iran, which analysts said indicates the country remains on track to meet its full-year growth target without the need for near-term stimulus. The closely watched gross domestic product growth figure, released by the National Bureau of Statistics (NBS) on Thursday, beat the 4.86 per cent forecast by economists polled by financial data provider Wind. It... https://www.scmp.com/economy/economic-indicators/article/3350237/china-records-5-gdp-growth-first-quarter-track-annual-target?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3350237/china-records-5-gdp-growth-first-quarter-track-annual-target?utm_source=rss_feed Thu, 16 Apr 2026 02:00:21 +0000 Mia Nurmamat Mia Nurmamat The US-Israeli war on Iran and the current Iranian and American blockades of shipping through the Strait of Hormuz are likely to overshadow China’s first-quarter economic performance, analysts said, with questions looming large about how the world’s second-largest economy will handle their impact. Many observers said they expect the leadership in Beijing will adopt a wait-and-see approach, with little likelihood of an immediate stimulus to guarantee the country’s annual economic target is... https://www.scmp.com/economy/economic-indicators/article/3350181/analysts-doubt-iran-war-will-prompt-china-stimulus-tip-solid-first-quarter-gdp-growth?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3350181/analysts-doubt-iran-war-will-prompt-china-stimulus-tip-solid-first-quarter-gdp-growth?utm_source=rss_feed Wed, 15 Apr 2026 13:00:24 +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 Mia Nurmamat Mia Nurmamat As the US imposes its own blockade on shipping through the Strait of Hormuz following the collapse of talks with Iran at the weekend, we take a look at how major economies in Asia and Europe could be affected by further restrictions on passage through one of the world’s most critical choke points for energy supplies. Who is most vulnerable in this energy crisis? According to a recent report by Japanese investment bank Nomura, the regions most exposed to the tensions in the Persian Gulf are Asian... https://www.scmp.com/economy/global-economy/article/3350051/which-countries-are-most-vulnerable-us-imposes-its-own-blockade-persian-gulf?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3350051/which-countries-are-most-vulnerable-us-imposes-its-own-blockade-persian-gulf?utm_source=rss_feed Wed, 15 Apr 2026 00:00:17 +0000 Mia Nurmamat,Xinyi Wu Mia Nurmamat,Xinyi Wu China is feeling the economic pain of Iran war shocks, with export growth softening and imports surging considerably in March as disruptions in the Strait of Hormuz pushed up transport, commodity and energy costs. However, analysts said China was likely to weather the impact better than other countries this year, thanks to its huge domestic market and its complete and efficient manufacturing base. Exports rose 2.5 per cent year on year to US$321.03 billion in March, according to data released by... https://www.scmp.com/economy/china-economy/article/3349849/chinas-imports-surge-march-exports-soften-amid-hormuz-blockade?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3349849/chinas-imports-surge-march-exports-soften-amid-hormuz-blockade?utm_source=rss_feed Tue, 14 Apr 2026 03:04:25 +0000 Ralph Jennings,Mia Nurmamat,He Huifeng Ralph Jennings,Mia Nurmamat,He Huifeng As the Strait of Hormuz reopened and closed again this week, manufacturers across China are navigating a roller coaster of concerns rooted in supply and pricing volatilities. Soaring oil prices have already filtered through to processed fuel and petroleum-based raw materials that help power China’s manufacturing sector – the world’s largest – and a fragile two-week ceasefire between Iran and the United States is unlikely to restore pre-conflict stability in the near term, according to industry... https://www.scmp.com/economy/global-economy/article/3349653/cancelling-orders-china-how-hormuz-oil-crisis-hitting-transport-manufacturing?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3349653/cancelling-orders-china-how-hormuz-oil-crisis-hitting-transport-manufacturing?utm_source=rss_feed Sat, 11 Apr 2026 05:00:11 +0000 Mia Nurmamat Mia Nurmamat China’s factory-gate prices rose for the first time in more than three years in March, in an early sign that the US-Israel war on Iran is starting to affect producers in the world’s second-largest economy. The producer price index (PPI) – a measure of factory-gate prices – increased by 0.5 per cent year on year in March, according to data released by the National Bureau of Statistics on Friday. The result broke a long deflationary period stretching for 41 consecutive months, with rising global... https://www.scmp.com/economy/china-economy/article/3349582/chinas-factory-gate-prices-rise-first-time-3-years-iran-war-bites?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3349582/chinas-factory-gate-prices-rise-first-time-3-years-iran-war-bites?utm_source=rss_feed Fri, 10 Apr 2026 01:32:34 +0000 Mia Nurmamat Mia Nurmamat China has completed one of Southeast Asia’s largest solar power projects in Laos, at a time when regional economies are stepping up efforts to reduce reliance on fossil fuels amid global energy disruptions in the Persian Gulf. The initial phase of the 1 gigawatt (GW) solar project was officially connected to the grid on Tuesday, becoming the country’s first large-scale mountainous photovoltaic installation. Located in northern Laos, the installation is expected to generate about 1.65 billion... https://www.scmp.com/economy/global-economy/article/3349382/china-backed-solar-project-powers-laos-amid-iran-war-energy-shock?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3349382/china-backed-solar-project-powers-laos-amid-iran-war-energy-shock?utm_source=rss_feed Thu, 09 Apr 2026 00:00:12 +0000 Mia Nurmamat Mia Nurmamat Once dubbed the world’s tallest abandoned skyscraper, Goldin Finance 117 in northern China appears to be in the homestretch of a marathon construction effort – after nearly a decade of dormancy and a year of resumed work – even as the nation’s property market struggles to leg out a sustained recovery. Late last month, workers began installing a diamond-shaped crown on top of the building – designed to be 596 metres (1,955 feet) tall upon completion – in the port city of Tianjin, according to... https://www.scmp.com/economy/china-economy/article/3348901/chinas-long-delayed-skyscraper-goldin-finance-117-nears-completion-amid-property-woes?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3348901/chinas-long-delayed-skyscraper-goldin-finance-117-nears-completion-amid-property-woes?utm_source=rss_feed Sun, 05 Apr 2026 06:00:11 +0000 Mia Nurmamat Mia Nurmamat As global supply volatility intensifies, Premier Li Qiang has called for faster development of a “new-type power system” to accelerate the green transition and expand the use of artificial intelligence (AI) in the sector. During a three-day visit to the southwestern province of Sichuan, Li stressed the need to expand green electricity supply and optimise the energy mix to bolster security and support economic growth. He urged market players to explore new grid architectures, improve system-wide... https://www.scmp.com/economy/china-economy/article/3348764/premier-li-qiang-pushes-ai-powered-next-gen-energy-system-amid-global-shocks?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3348764/premier-li-qiang-pushes-ai-powered-next-gen-energy-system-amid-global-shocks?utm_source=rss_feed Thu, 02 Apr 2026 06:10:42 +0000 Mia Nurmamat Mia Nurmamat As the country with the world’s largest cohort of billionaires, China is no stranger to wealthy elites engaging in luxurious leisure activities, but one common pastime in the West does not seem to have attracted a commensurate level of interest across the Pacific – yachting. While Chinese e-commerce billionaire Richard Liu recently announced a multibillion-dollar investment in a new yacht company, regulatory hurdles and infrastructure gaps have kept China’s wealthiest individuals from fully... https://www.scmp.com/economy/china-economy/article/3346817/chinas-high-end-yacht-owners-say-industry-growth-stifled-structural-gaps?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3346817/chinas-high-end-yacht-owners-say-industry-growth-stifled-structural-gaps?utm_source=rss_feed Sun, 29 Mar 2026 08:00:10 +0000 Mia Nurmamat Mia Nurmamat China’s market regulator has told companies including electric vehicle maker BYD and battery giant Contemporary Amperex Technology Ltd (CATL) to compete healthily when expanding overseas, amid mounting accusations of unfair competition, subsidies and dumping levelled at Chinese companies in global markets. Chinese firms should standardise their competitive behaviour and “build a healthy competition ecosystem” in their overseas expansion, the State Administration for Market Regulation said in an... https://www.scmp.com/economy/china-economy/article/3348163/chinese-market-regulator-tells-firms-focus-healthy-competition-overseas?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3348163/chinese-market-regulator-tells-firms-focus-healthy-competition-overseas?utm_source=rss_feed Fri, 27 Mar 2026 13:00:09 +0000 Mia Nurmamat Mia Nurmamat The Guangdong-Hong Kong-Macau Greater Bay Area (GBA) is lagging behind China’s national average in basic research, despite showing strong potential in sectors such as semiconductors and smart manufacturing, according to Deloitte. The cluster of cities in southern China, which included Shenzhen, spent about 28.9 billion yuan (US$4.2 billion) on basic research in 2024, accounting for just 5.67 per cent of total spending in research and development (R&D), the consulting firm said in a report... https://www.scmp.com/tech/big-tech/article/3347992/greater-bay-area-trails-peers-basic-research-despite-strong-tech-potential-deloitte?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3347992/greater-bay-area-trails-peers-basic-research-despite-strong-tech-potential-deloitte?utm_source=rss_feed Thu, 26 Mar 2026 23:00:08 +0000 Mia Nurmamat,Xinyi Wu Mia Nurmamat,Xinyi Wu Germany’s chemical giant BASF has launched operations at its China production base – its largest overseas investment to date – with a total outlay of €8.7 billion (US$10 billion), and the country’s first wholly foreign-owned large-scale Verbund site. The company on Thursday inaugurated the world-scale complex in Zhanjiang, Guangdong province, designed to run entirely on renewable electricity. A Verbund site is an integrated chemical complex where plants, energy use and materials are... https://www.scmp.com/business/article/3348021/basf-launches-biggest-overseas-project-china-green-powered-mega-site?utm_source=rss_feed https://www.scmp.com/business/article/3348021/basf-launches-biggest-overseas-project-china-green-powered-mega-site?utm_source=rss_feed Thu, 26 Mar 2026 14:00:12 +0000 Mia Nurmamat Mia Nurmamat China is urging companies to release their fertiliser reserves in time for the crucial spring planting season, as the US-Israel war on Iran strains supplies of key raw materials to the world’s largest grain producer. Beijing is also expected to keep export restrictions on some fertiliser ingredients in place beyond the spring, as it strives to ensure Chinese farmers retain uninterrupted access to vital agrichemicals at reasonable prices despite the Middle East conflict. Tehran’s effective... https://www.scmp.com/economy/china-economy/article/3347964/china-rushes-stabilise-fertiliser-market-iran-war-chokes-imports?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347964/china-rushes-stabilise-fertiliser-market-iran-war-chokes-imports?utm_source=rss_feed Thu, 26 Mar 2026 07:00:08 +0000 Mia Nurmamat Mia Nurmamat China Mobile has invested nearly HK$10 billion (US$1.28 billion) over five years to help turn Hong Kong into a global computing hub, integrating the city into China’s national network. The world’s largest telecoms operator by subscribers on Wednesday opened a new data centre in northern Hong Kong and said it would step up investment in next-generation submarine cables. The state-owned group aims to bring Hong Kong into China’s national computing network, which has the world’s second-largest... https://www.scmp.com/business/companies/article/3347877/china-mobile-bets-hong-kong-gateway-global-computing-flows?utm_source=rss_feed https://www.scmp.com/business/companies/article/3347877/china-mobile-bets-hong-kong-gateway-global-computing-flows?utm_source=rss_feed Wed, 25 Mar 2026 11:30:08 +0000 Mia Nurmamat,Carol Yang Mia Nurmamat,Carol Yang The second Chinese-owned liquefied petroleum gas (LPG) carrier has transited the Strait of Hormuz since the outbreak of the US-Israeli war with Iran, according to industry sources and vessel-tracking data, amid conflicting claims over access to the vital trade corridor. Tehran has largely blocked the strategic waterway in retaliation for Washington and Tel Aviv’s strikes, causing widespread disruption to global shipping – though Iranian officials have recently promised safe passage for vessels... https://www.scmp.com/economy/global-economy/article/3347860/china-owned-vessel-secures-rare-strait-hormuz-transit-iran-war-grinds?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3347860/china-owned-vessel-secures-rare-strait-hormuz-transit-iran-war-grinds?utm_source=rss_feed Wed, 25 Mar 2026 09:00:35 +0000 Mia Nurmamat Mia Nurmamat The disruption to shipping traffic along the Strait of Hormuz is starting to bite in China, where some manufacturers are reducing production due to soaring energy, raw material and freight costs. Zhao, who runs a bicycle factory in Guangzhou serving clients in the United States, Middle East and Europe, has already put most export business on hold. “We also cancelled all orders from Iran,” he said. “The cost of aluminium, a key raw material for bicycle production, has risen by 30 per... https://www.scmp.com/economy/china-economy/article/3347808/chinas-consumer-goods-factories-cut-output-iran-war-sends-costs-soaring?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347808/chinas-consumer-goods-factories-cut-output-iran-war-sends-costs-soaring?utm_source=rss_feed Wed, 25 Mar 2026 05:23:59 +0000 Mia Nurmamat Mia Nurmamat 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 Joyce Wu moved from Hainan province to Hong Kong in 2013, she marvelled for years at the... https://www.scmp.com/economy/china-economy/article/3347581/chinas-hainan-wants-more-beach-tourism-will-new-customs-rules-cause-sea-change?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347581/chinas-hainan-wants-more-beach-tourism-will-new-customs-rules-cause-sea-change?utm_source=rss_feed Mon, 23 Mar 2026 22:00:10 +0000 Ralph Jennings,Mia Nurmamat Ralph Jennings,Mia Nurmamat China has cut exports of two metals used in military technology to Japan while increasing shipments of rare earth magnets, in what could signal a muted warning after geopolitical tensions between the two Asian economies flared last year. Exports of gallium to Japan registered zero volume in the first two months of the year, compared with 8,007kg (17,652 pounds) in the same period of 2025, customs data showed. Germanium exports were also at zero in January and February, compared with 400kg (882... https://www.scmp.com/economy/global-economy/article/3347567/china-cuts-exports-two-hi-tech-metals-japan-increases-rare-earth-shipments?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3347567/china-cuts-exports-two-hi-tech-metals-japan-increases-rare-earth-shipments?utm_source=rss_feed Mon, 23 Mar 2026 08:00:15 +0000 Mia Nurmamat Mia Nurmamat China’s exports of rare earth permanent magnets to the United States continue to fall, at a time when Washington and its allies are stepping up efforts to reduce reliance on the country’s critical mineral supply chains. Shipments of permanent magnets to the US totalled 994 tonnes in January and February, down nearly 22.5 per cent year on year, according to data released on Friday by China’s General Administration of Customs. This marked the seventh consecutive month of decline. Over the two... https://www.scmp.com/economy/global-economy/article/3347326/chinas-rare-earth-magnet-exports-us-keep-falling-europe-gains?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3347326/chinas-rare-earth-magnet-exports-us-keep-falling-europe-gains?utm_source=rss_feed Fri, 20 Mar 2026 13:30:09 +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 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 Mandy Zuo,Mia Nurmamat Mandy Zuo,Mia Nurmamat A Shanghai-based start-up claims to have mastered a technique for producing synthetic petroleum at low cost from air and water, as China intensifies efforts to develop alternatives to traditional fossil fuels amid the US-Israel war against Iran. Carbonology announced it had created a process for converting carbon dioxide extracted from air and water into artificial fuel using solar and wind energy, Chinese media outlet Cailianshe reported on Tuesday. The company – co-founded by a former... https://www.scmp.com/economy/china-economy/article/3346892/unlimited-gas-chinese-firm-claims-it-can-produce-petroleum-air-and-water?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3346892/unlimited-gas-chinese-firm-claims-it-can-produce-petroleum-air-and-water?utm_source=rss_feed Tue, 17 Mar 2026 10:00:16 +0000 Mia Nurmamat,Carol Yang Mia Nurmamat,Carol Yang Maritime tracking data showed that no ships passed through the Strait of Hormuz on Saturday, marking the first full day without any confirmed commercial traffic in either direction since February 28, when the US and Israel began military strikes on Iran. Crossings dropped to zero, below the previous seven-day average of 2.57 daily transits, according to maritime analytics firm Windward. Although no vessels entered the waterway that day, about 400 ships sailed in the Gulf of Oman on Friday, it... https://www.scmp.com/economy/global-economy/article/3346755/no-ships-cross-strait-hormuz-first-time-conflict-began-data-shows?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3346755/no-ships-cross-strait-hormuz-first-time-conflict-began-data-shows?utm_source=rss_feed Mon, 16 Mar 2026 09:30:14 +0000 Mia Nurmamat Mia Nurmamat The Formula One (F1) Chinese Grand Prix drew record crowds over the weekend, another indication the wide-ranging efforts from host city Shanghai to raise its profile as a global sports and event destination are paying off. The three-day event, which concluded on Sunday, attracted more than 230,000 cumulative spectators, the highest attendance headcount reported by the Chinese financial centre in nearly two decades. On the opening day, the number of foreign arrivals through Shanghai’s ports... https://www.scmp.com/economy/china-economy/article/3346721/shanghai-sees-massive-f1-turnout-boosting-citys-pitch-sporting-destination?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3346721/shanghai-sees-massive-f1-turnout-boosting-citys-pitch-sporting-destination?utm_source=rss_feed Mon, 16 Mar 2026 08:00:10 +0000 Mia Nurmamat Mia Nurmamat Apple announced a reduction in the App Store commissions it charges developers in China ahead of the annual World Consumer Rights Day, drawing approval from the country’s biggest gaming companies Tencent Holdings and NetEase. The US tech company said it would reduce the commission for standard in-app purchases and paid app transactions on iPhone and iPad to 25 per cent, from the current 30 per cent, according to a statement on its website on Thursday. Meanwhile, the commission rate for... https://www.scmp.com/tech/big-tech/article/3346470/apple-reduces-app-store-commissions-china-move-applauded-tencent-netease?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3346470/apple-reduces-app-store-commissions-china-move-applauded-tencent-netease?utm_source=rss_feed Fri, 13 Mar 2026 07:02:07 +0000 Mia Nurmamat Mia Nurmamat China has pledged to raise grain output to record levels over the next five years, as part of efforts to guarantee food security for its vast population amid geopolitical shocks and supply-chain uncertainties. Under the nation’s 15th five-year plan unveiled during the “two sessions” parliamentary meetings, Beijing set a target to raise annual grain production capacity to 725 million tonnes by 2030, driven by wider use of high-end agricultural machinery and advanced breeding technologies. As in... https://www.scmp.com/economy/global-economy/article/3346235/china-targets-record-food-security-push-shadow-us-israeli-war-iran?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3346235/china-targets-record-food-security-push-shadow-us-israeli-war-iran?utm_source=rss_feed Thu, 12 Mar 2026 06:00:08 +0000 Mia Nurmamat Mia Nurmamat Logistics companies in China are feeling the strain from the US-Israeli war on Iran, as volatile crude prices and disrupted transport routes ripple through global supply chains. With e-commerce cargo stranded in the Middle East and freight rates skyrocketing, industry insiders said they expect the fallout to last months, even as US President Donald Trump signalled the war could end soon. While some saw opportunities in alternative Central Asian corridors, Chinese businesses reliant on the region... https://www.scmp.com/economy/china-economy/article/3346241/iran-war-hits-trade-hubs-chinas-logistics-firms-scramble-alternatives?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3346241/iran-war-hits-trade-hubs-chinas-logistics-firms-scramble-alternatives?utm_source=rss_feed Wed, 11 Mar 2026 15:00:09 +0000 Mia Nurmamat Mia Nurmamat The escalating conflict in the Middle East is having a direct impact on China’s access to sulphur – a raw material for producing fertiliser – just as the country enters its vital spring planting season. With China sourcing a large chunk of its sulphur from the Persian Gulf, the effective closure of the Strait of Hormuz is already sending prices for the chemical shooting upwards as Chinese buyers complain of tightening supplies. China relies on imports for 47 per cent of its sulphur supply,... https://www.scmp.com/economy/china-economy/article/3345761/iran-war-hits-chinas-sulphur-imports-economic-fallout-conflict-grows?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345761/iran-war-hits-chinas-sulphur-imports-economic-fallout-conflict-grows?utm_source=rss_feed Sun, 08 Mar 2026 09:00:08 +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 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 Mia Nurmamat,Ben Jiang Mia Nurmamat,Ben Jiang In an unprecedented Chinese New Year marketing blitz, Alibaba Group Holding, Baidu, ByteDance and Tencent Holdings spent an estimated 8 billion yuan (US$1.1 billion) to turn their artificial intelligence assistants into household names, according to Morgan Stanley. Now the dust is settling. A week after the holiday ended, early data offers a first glimpse into how China’s AI landscape is evolving and which players gained lasting traction from the spending spree. Morgan Stanley said all platforms... https://www.scmp.com/business/article/3345301/chinas-ai-red-packet-battle-burns-through-us1-billion-will-users-stick-around?utm_source=rss_feed https://www.scmp.com/business/article/3345301/chinas-ai-red-packet-battle-burns-through-us1-billion-will-users-stick-around?utm_source=rss_feed Tue, 03 Mar 2026 13:00:11 +0000 Ji Siqi,Mia Nurmamat Ji Siqi,Mia Nurmamat The escalating conflict in the Middle East – which is sending oil prices soaring and disrupting shipping traffic along the Strait of Hormuz – should not pose an immediate threat to China’s crude supply, but will add urgency to the country’s energy security drive, analysts said. Since the United States and Israel launched strikes against Iran over the weekend, commercial traffic has largely come to a standstill along the Strait of Hormuz – a waterway linking the Persian Gulf with the Indian Ocean... https://www.scmp.com/economy/china-economy/article/3345135/iran-conflict-will-accelerate-chinas-push-become-energy-powerhouse-analysts-say?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345135/iran-conflict-will-accelerate-chinas-push-become-energy-powerhouse-analysts-say?utm_source=rss_feed Mon, 02 Mar 2026 12:00:08 +0000 Mia Nurmamat Mia Nurmamat Global debt climbed to a record high in 2025, rising at the fastest pace since the pandemic, with China and the United States accounting for a large share of the increase, according to a new report. Total global debt surged to US$348 trillion last year, with nearly US$29 trillion of new debt added over the year, the Institute of International Finance (IIF) said. Government borrowing accounted for more than US$10 trillion of the increase, with the United States, China and the euro zone together... https://www.scmp.com/economy/china-economy/article/3344903/global-debt-soars-us29-trillion-us-china-drive-rapid-build-report?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3344903/global-debt-soars-us29-trillion-us-china-drive-rapid-build-report?utm_source=rss_feed Fri, 27 Feb 2026 12:00:17 +0000 Mia Nurmamat Mia Nurmamat Premier Li Qiang has called for deeper technological cooperation with Germany and highlighted opportunities under China’s latest five-year plan – a move that could help ease tensions with the EU over the war in Ukraine and years of trade disputes. “We support bilateral flows of innovation resources between enterprises and research institutions in both countries,” Li told a symposium attended by German Chancellor Friedrich Merz and more than 60 business representatives from both sides. “We can... https://www.scmp.com/economy/china-economy/article/3344735/china-eu-trade-ties-are-crossroads-could-tech-bridge-divide?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3344735/china-eu-trade-ties-are-crossroads-could-tech-bridge-divide?utm_source=rss_feed Thu, 26 Feb 2026 10:00:13 +0000 Mia Nurmamat Mia Nurmamat Xiaomi is doubling down on its five-year plan for core technologies including chips, artificial intelligence and operating systems, aiming to position itself as a deep-tech player amid China’s self-reliance push, while peers such as Li Auto and Xpeng accelerate moves into humanoid robotics. Lei Jun, founder, chairman and CEO of the Beijing-based smartphone and electric vehicle giant, on Tuesday said private technology firms must deepen investment in core technologies and speed up the... https://www.scmp.com/tech/big-tech/article/3344572/xiaomi-deepens-push-chips-and-ai-peers-race-humanoid-robotics?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3344572/xiaomi-deepens-push-chips-and-ai-peers-race-humanoid-robotics?utm_source=rss_feed Wed, 25 Feb 2026 07:29:56 +0000 Mia Nurmamat Mia Nurmamat China’s Lunar New Year box office slid to its weakest level since 2020, weighed down by the absence of major breakout films, despite the country leading global single-market takings so far this year. Cinemas generated 5.75 billion yuan (US$831 million) over the nine-day holiday that ended on Monday, according to box-office tracker Dengta Data – a drop of nearly 40 per cent from last year’s record 9.51 billion yuan haul. The result marked the lowest Lunar New Year takings since 2020, when... https://www.scmp.com/economy/china-economy/article/3344458/chinas-lunar-new-year-box-office-hits-6-year-low-releases-fall-flat?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3344458/chinas-lunar-new-year-box-office-hits-6-year-low-releases-fall-flat?utm_source=rss_feed Tue, 24 Feb 2026 09:30:50 +0000 Mia Nurmamat Mia Nurmamat Consumer spending during China’s Lunar New Year rose modestly this year, according to early official data, as authorities extended the holiday and stepped up stimulus measures to support domestic demand. Average daily sales at major retail and catering firms rose 8.6 per cent year on year over the first four days of the break, Ministry of Commerce data showed. Across 78 pedestrian shopping streets and commercial districts monitored by the ministry, foot traffic and sales revenue grew 4.5 per... https://www.scmp.com/economy/china-economy/article/3344352/chinas-lunar-new-year-sees-modest-rise-consumer-spending-early-data-shows?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3344352/chinas-lunar-new-year-sees-modest-rise-consumer-spending-early-data-shows?utm_source=rss_feed Mon, 23 Feb 2026 11:00:51 +0000 Mia Nurmamat Mia Nurmamat Iran partially and temporarily closed the strategic Strait of Hormuz during a military drill on Tuesday, thrusting the vital shipping route under the global spotlight once again. The hours-long suspension was the first time Tehran had restricted traffic through the strait since US President Donald Trump’s warning last month that Washington could take military action over Iran’s nuclear programme, with tensions still high between the two sides despite recent bilateral talks in Geneva. Here, we... https://www.scmp.com/economy/global-economy/article/3344137/what-would-blocking-strait-hormuz-mean-global-oil-and-lng-shipments?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3344137/what-would-blocking-strait-hormuz-mean-global-oil-and-lng-shipments?utm_source=rss_feed Fri, 20 Feb 2026 09:15:11 +0000 Mia Nurmamat Mia Nurmamat China’s trade with some South American nations is accelerating after the opening of Peru’s Chancay port, underscoring Beijing's push to secure resources and bolster industrial supply chains under the Belt and Road Initiative, analysts said. The surge in two-way trade builds on years of Chinese investment and comes as the United States seeks to roll back Beijing’s influence in the region under a strategy US President Donald Trump has called the “Donroe” doctrine – invoking a 19th-century policy... https://www.scmp.com/economy/china-economy/article/3342512/trumps-south-america-threats-fizzle-chinas-trade-surges-powered-peru-port?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3342512/trumps-south-america-threats-fizzle-chinas-trade-surges-powered-peru-port?utm_source=rss_feed Thu, 05 Feb 2026 23:30:07 +0000