https://www.scmp.com/rss/513037/feed China must ensure an adequate supply of energy, including coal, gas and crude oil, to support its 1.4 billion people. According to the 14th five-year plan for 2021-25, China must supply more of its own energy needs by 2025, while advocating for larger domestic oil and gas production and clean energy cooperation with other countries, including the United States. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Sylvia Ma Sylvia Ma The International Chamber of Shipping (ICS) has denounced proposed tolls in the Strait of Hormuz as a worrisome step in the wrong direction, while noting that several thousand stranded seafarers remain the international shipping community’s foremost concern. “Freedom of navigation has to be one of the pillars of free trade, and it would be a retrograde step – a really bad step,” said John Denholm, chair designate of the ICS, referring to the idea of charging vessels to transit the oil... https://www.scmp.com/economy/global-economy/article/3350067/hormuz-blockade-shipping-industry-slams-transit-fees-20000-seafarers-still-stranded?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3350067/hormuz-blockade-shipping-industry-slams-transit-fees-20000-seafarers-still-stranded?utm_source=rss_feed Wed, 15 Apr 2026 03:00:27 +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 Kandy Wong Kandy Wong As China looks to central Asia for more energy supplies to offset shipping disruptions amid the Iran war, Vice-Premier Ding Xuexiang will travel to Turkmenistan to visit local gas fields and to attend a bilateral cooperation meeting. Ding, who is China’s top-ranking vice-premier, will kick off his three-day visit on Wednesday by attending the groundbreaking ceremony for the fourth phase of the Galkynysh gas field as President Xi Jinping’s special representative, Xinhua reported. Ding will also... https://www.scmp.com/economy/global-economy/article/3350028/china-turns-central-asia-us-blockade-hormuz-chokes-global-energy-flows?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3350028/china-turns-central-asia-us-blockade-hormuz-chokes-global-energy-flows?utm_source=rss_feed Tue, 14 Apr 2026 08:30:02 +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 Carol Yang Carol Yang China’s green energy transition is expanding from a domestic security priority into a potent geopolitical asset at a time of heightened global uncertainty, according to the latest official reading of the country’s 15th five-year plan. That shift has been tested in recent weeks by the US-Israeli war in Iran and Tehran’s effective closure of the Strait of Hormuz – a chokepoint for 20 per cent of global oil and gas supplies. While Tehran signalled it would reopen the strait on Tuesday under a... https://www.scmp.com/economy/china-economy/article/3349646/why-chinas-green-energy-strategy-may-shield-it-iran-war-oil-shock?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3349646/why-chinas-green-energy-strategy-may-shield-it-iran-war-oil-shock?utm_source=rss_feed Fri, 10 Apr 2026 12:00:09 +0000 Juan Pablo Sims,Brice Tseen Fu Lee Juan Pablo Sims,Brice Tseen Fu Lee The Iran war has been framed as a Middle East crisis with global energy consequences. That is true, but incomplete. It is also reshaping China’s strategic map. The disruption in the Strait of Hormuz, the jump in oil prices and the shock to shipping and energy markets have reinforced a lesson for Beijing: vulnerability begins with concentration. When one region becomes more unstable, the value of diversified suppliers, routes and external partners rises. That is why Latin America matters more to... https://www.scmp.com/opinion/china-opinion/article/3349271/middle-east-crisis-pushing-china-deepen-latin-america-ties?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3349271/middle-east-crisis-pushing-china-deepen-latin-america-ties?utm_source=rss_feed Thu, 09 Apr 2026 21:30:08 +0000 He Huifeng He Huifeng While the world remains divided over the unresolved issue of toll collection in the Strait of Hormuz, some Chinese experts have proposed pegging fees to oil prices or using exportable digital tokens from China for settlements. If tolls were to be imposed in this strategic chokepoint for global energy trade, settlement mechanisms could be “innovative”, said Wang Yiwei, director of the Institute of International Affairs at Renmin University. “Tolls and settlements could be tied to oil prices or... https://www.scmp.com/economy/global-economy/article/3349545/hormuz-toll-debate-china-experts-propose-innovative-solutions-impasse-persists?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3349545/hormuz-toll-debate-china-experts-propose-innovative-solutions-impasse-persists?utm_source=rss_feed Thu, 09 Apr 2026 15:00:11 +0000 Marco Vicenzino Marco Vicenzino The two-week ceasefire between the United States and Iran is a real diplomatic breakthrough. It has reopened the Strait of Hormuz, triggered a relief rally in global markets and eased the immediate fear of a spiralling energy shock. But its strategic significance lies less in the relief it has produced than in the uncertainty it leaves behind. The truce is time-limited, tied to negotiations and built around temporary safe passage rather than a settled regional order. The ceasefire terms and... https://www.scmp.com/opinion/asia-opinion/article/3349425/asia-us-iran-ceasefire-offers-little-relief-and-much-uncertainty?utm_source=rss_feed https://www.scmp.com/opinion/asia-opinion/article/3349425/asia-us-iran-ceasefire-offers-little-relief-and-much-uncertainty?utm_source=rss_feed Thu, 09 Apr 2026 14:30:10 +0000 Kandy Wong,Ji Siqi Kandy Wong,Ji Siqi China’s exports of energy storage equipment are expected to keep rising as the US-Israeli war in Iran renews global calls for energy independence, industry insiders and analysts said. The total export value of Chinese inverters – key components in energy storage systems – jumped 57 per cent year on year to US$1.66 billion for the first two months of 2026, Chinese customs data showed. Inverters convert electricity generated from batteries and solar panels into usable power for homes, businesses... https://www.scmp.com/economy/global-economy/article/3349515/chinas-energy-storage-tech-exports-buffer-against-iran-war-oil-shock?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3349515/chinas-energy-storage-tech-exports-buffer-against-iran-war-oil-shock?utm_source=rss_feed Thu, 09 Apr 2026 09:00:17 +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 Göktuğ Çalışkan Göktuğ Çalışkan The first tankers that turned away from the Strait of Hormuz did not just redraw shipping maps. They redrew grocery lists, too. After Iran’s partial closure of the strait disrupted a chokepoint that carries roughly 20 per cent of the world’s oil, traders priced in something they know too well: war is not only about missiles; it’s about the bill that lands on kitchen tables months later. Brent crude climbing back above US$100 a barrel, and touching roughly US$120 on the worst days, is already... https://www.scmp.com/opinion/world-opinion/article/3349221/war-premiums-hit-groceries-china-deals-give-africa-room-breathe?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3349221/war-premiums-hit-groceries-china-deals-give-africa-room-breathe?utm_source=rss_feed Wed, 08 Apr 2026 12:30:08 +0000 Frank Chen Frank Chen China has implemented a new regulation on supply chain security that hands officials the power to punish any entities deemed to threaten the country’s access to vital resources and the free flow of goods, as Beijing confronts an increasingly turbulent global outlook. The 18-point regulation – which was passed and became effective on March 31, but the full text of which was only published on Tuesday – elevates safeguarding China’s industrial and supply chains to a national security issue. The new... https://www.scmp.com/economy/china-economy/article/3349351/china-enforces-new-security-rules-defend-supply-chains-global-threats?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3349351/china-enforces-new-security-rules-defend-supply-chains-global-threats?utm_source=rss_feed Wed, 08 Apr 2026 09:30:09 +0000 Shi Jiangtao Shi Jiangtao China and Australia should intensify exchanges on energy security amid complex global geopolitics, Canberra said on Tuesday as spillover from the US-Israel war against Iran continued to endanger the world economy. In a phone conversation on Tuesday, Australian Prime Minister Anthony Albanese and Chinese Premier Li Qiang discussed the importance of energy security “in light of the current global challenges” and agreed to increase government-to-government communication to support regional energy... https://www.scmp.com/news/china/diplomacy/article/3349341/neighbours-matter-more-ever-china-australia-vow-more-contact-amid-global-tension?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3349341/neighbours-matter-more-ever-china-australia-vow-more-contact-amid-global-tension?utm_source=rss_feed Wed, 08 Apr 2026 06:27:41 +0000 He Huifeng He Huifeng China has broken ground on a 50-megawatt concentrated solar power plant in Tibet at an altitude of 4,550 metres (14,900 feet), making it the world’s highest-altitude parabolic trough solar thermal facility. The project, located in Dangxiong County, incorporates a 400-megawatt photovoltaic system and is scheduled for full operation by 2027, Xinhua reported. Preparatory digging at the site began on Monday. Global energy supplies have grown increasingly volatile in recent years, due to climate... https://www.scmp.com/economy/china-economy/article/3349255/china-starts-work-solar-plant-built-under-extreme-conditions-amid-global-energy-crisis?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3349255/china-starts-work-solar-plant-built-under-extreme-conditions-amid-global-energy-crisis?utm_source=rss_feed Tue, 07 Apr 2026 10:58:07 +0000 Frank Chen Frank Chen From controlling the weight of aircraft to sending more flights to Europe via Russian airspace, Chinese airlines have adopted a range of measures in response to the surge in oil prices resulting from the Middle East conflict that threatens to crimp their razor-thin margins. A number of carriers, including China Eastern Airlines, have been enforcing more precise and complex cost management measures in recent weeks to save fuel, according to industry insiders. They include stricter load and weight... https://www.scmp.com/economy/china-economy/article/3348919/chinese-airlines-shed-weight-add-flights-over-russia-trim-fuel-costs-amid-iran-war?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3348919/chinese-airlines-shed-weight-add-flights-over-russia-trim-fuel-costs-amid-iran-war?utm_source=rss_feed Fri, 03 Apr 2026 07:02:09 +0000 Junjie Wang Junjie Wang – https://www.scmp.com/plus/economy/article/3348877/strait-hormuz-crisis?utm_source=rss_feed https://www.scmp.com/plus/economy/article/3348877/strait-hormuz-crisis?utm_source=rss_feed Fri, 03 Apr 2026 04:26:39 +0000 Hao Nan Hao Nan A month into the Iran war, Washington still says it expects to achieve its objectives in weeks, not months. That may prove optimistic. The terms on offer from the United States and Iran barely overlap, and markets remain unconvinced a durable settlement is close. But one fact is clear: the war’s most consequential effects may be felt not only in the Middle East but across East Asia. It would be a mistake to see this as only an oil story. It is also about hierarchy. In East Asia, the war is... https://www.scmp.com/opinion/china-opinion/article/3348429/how-east-asia-being-quietly-reordered-us-war-iran?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3348429/how-east-asia-being-quietly-reordered-us-war-iran?utm_source=rss_feed Thu, 02 Apr 2026 12:30:07 +0000 Ralph Jennings Ralph Jennings Andrew Tilton, chief Asia-Pacific economist at Goldman Sachs, speaks to the South China Morning Post about the long-term future of China’s economy after the “two sessions” in Beijing and ahead of an expected Xi-Trump summit – all during an oil crisis sparked by the US-Israel war against Iran. SCMP Plus readers get early access to articles in the Open Questions series. What impact will the oil shock arising from the Iran war have on the growth of Asian economies this year? Asia is greatly... https://www.scmp.com/plus/economy/china-economy/article/3348772/goldman-sachs-economist-sees-iran-war-testing-chinas-self-reliance?utm_source=rss_feed https://www.scmp.com/plus/economy/china-economy/article/3348772/goldman-sachs-economist-sees-iran-war-testing-chinas-self-reliance?utm_source=rss_feed Thu, 02 Apr 2026 07:30:04 +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 Xinyi Wu Xinyi Wu Chinese airlines are mulling the introduction of higher fuel surcharges, as authorities strive to balance the impact of surging oil prices with the need to preserve airline margins and at the same time avoid dampening consumer demand. Although a formal announcement from the national regulator is pending, at least two domestic airlines released notices on Wednesday about plans for sixfold surcharge increases, after another airline rescinded a similar notice on Tuesday. According to notices put... https://www.scmp.com/economy/china-economy/article/3348653/eyes-chinese-airline-regulator-it-seeks-difficult-balance-fuel-surcharge-rises?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3348653/eyes-chinese-airline-regulator-it-seeks-difficult-balance-fuel-surcharge-rises?utm_source=rss_feed Wed, 01 Apr 2026 22:00:19 +0000 Kandy Wong Kandy Wong China’s exports of jet fuel have declined sharply in recent weeks amid the US-Israel war on Iran, leaving countries including Australia and Japan facing a supply crunch and scrambling to find alternative sellers. China is Asia-Pacific’s largest jet fuel and kerosene exporter, but shipments from the country fell nearly 40 per cent month on month in March to 204,000 barrels per day, figures from trade data provider Kpler showed. The cutback is likely to hit hardest in Australia and Japan, which... https://www.scmp.com/economy/china-economy/article/3348642/australia-and-japan-face-jet-fuel-supply-crunch-china-cuts-exports?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3348642/australia-and-japan-face-jet-fuel-supply-crunch-china-cuts-exports?utm_source=rss_feed Wed, 01 Apr 2026 07:22:29 +0000 Dewey Sim Dewey Sim The US-Israel war on Iran has crippled exports of fertiliser from the Persian Gulf, raising the spectre of higher food prices if the conflict drags on. The disruption could hand China – the world’s largest fertiliser producer – greater political leverage over countries already locked in disputes with Beijing, though it is unlikely to weaponise exports, according to analysts. Global fertiliser prices have soared since Iran effectively blocked shipping through the Strait of Hormuz, through which... https://www.scmp.com/news/china/diplomacy/article/3348573/why-spike-fertiliser-prices-could-boost-chinas-political-clout?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3348573/why-spike-fertiliser-prices-could-boost-chinas-political-clout?utm_source=rss_feed Tue, 31 Mar 2026 14:00:08 +0000 Xinyi Wu Xinyi Wu China has sufficient leeway to cope with imported inflationary shocks from Middle East instability, a monetary-policy adviser to the People’s Bank of China said, but the country must balance those pressures with economic-growth risks. Huang Yiping, a member of the PBOC’s Monetary Policy Committee, said that China was already experiencing upwards pressure on prices. But China’s consumer price index (CPI), a key gauge of inflation, has remained below its official target of 2 per cent in recent... https://www.scmp.com/economy/china-economy/article/3348567/china-has-room-imported-inflation-economic-risks-rising-pboc-adviser?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3348567/china-has-room-imported-inflation-economic-risks-rising-pboc-adviser?utm_source=rss_feed Tue, 31 Mar 2026 13:00:08 +0000 Mandy Zuo,Carol Yang Mandy Zuo,Carol Yang As global energy supplies are put under strain by Iranian disruption to shipping through the Strait of Hormuz, state-owned Chinese oil giant PetroChina has said its overall operations remain stable because most of its imports do not pass through the strait. However, the company’s investment operations in the Middle East had been “impacted to varying degrees”, as crude oil and natural gas imported through the strait accounted for about 10 per cent of its total operating volume, PetroChina... https://www.scmp.com/economy/china-economy/article/3348534/3-chinese-ships-exit-strait-hormuz-petrochina-stresses-operations-stable?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3348534/3-chinese-ships-exit-strait-hormuz-petrochina-stresses-operations-stable?utm_source=rss_feed Tue, 31 Mar 2026 11:00:12 +0000 Sylvia Ma Sylvia Ma Oil prices have surged amid the US-Israel conflict with Iran, with attacks having disrupted shipping through the Strait of Hormuz – a critical chokepoint that roughly one-fifth of the world’s daily oil consumption moves through. With memories of 1970s stagflation still lingering, many are asking whether this is the start of another major oil crisis. Below is a concise look at prior shocks and what history suggests today. What happened during the 1970s oil shocks The first oil crisis in 1973-74... https://www.scmp.com/economy/global-economy/article/3348425/how-hormuz-attacks-stoke-oil-shock-fears-and-memories-1970s-stagflation?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3348425/how-hormuz-attacks-stoke-oil-shock-fears-and-memories-1970s-stagflation?utm_source=rss_feed Mon, 30 Mar 2026 12:30:14 +0000 Genevieve Donnellon-May Genevieve Donnellon-May Amid turmoil in the Middle East, including the effective closure of the Strait of Hormuz, through which roughly a quarter of the world’s seaborne oil passes, Beijing is pressing ahead with its Zhuri (sun-chasing) project to build solar power stations in space. Chinese Academy of Engineering academician and senior rocket scientist Long Lehao likened this space-based solar power programme to putting the Three Gorges Dam into geostationary orbit, underscoring its extraordinary scale and ambition.... https://www.scmp.com/opinion/china-opinion/article/3347692/why-chinas-space-based-solar-power-next-frontier-green-energy?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3347692/why-chinas-space-based-solar-power-next-frontier-green-energy?utm_source=rss_feed Fri, 27 Mar 2026 21:30:08 +0000 Xiaofei Xu Xiaofei Xu Britain’s decision to block a £1.5 billion (US$2 billion) plan by Chinese clean energy giant Mingyang to build the UK’s largest wind turbine factory in Scotland highlights the mounting challenges of doing business with China in an era of deepening global mistrust, analysts said. The move was likely the result of direct pressure from Washington, a source familiar with the matter said on Thursday. The US-Israeli war in Iran and the subsequent energy crisis had raised hopes for the project to be... https://www.scmp.com/economy/global-economy/article/3348039/uk-blocks-china-wind-turbine-project-national-security-amid-tense-business-climate?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3348039/uk-blocks-china-wind-turbine-project-national-security-amid-tense-business-climate?utm_source=rss_feed Thu, 26 Mar 2026 13:30:04 +0000 Andy Xie Andy Xie The Iran war’s oil shock has dramatically increased the security risk for oil-dependent countries, incentivising a turn towards renewable energy. This impact will outlast the war and oil price spikes because the world knows this war will recur. China will be the biggest beneficiary and its exports are likely to do very well this year, offsetting losses from buying higher-priced oil. A fifth of the global supply of oil and liquefied natural gas plus a third of seaborne fertilisers traditionally... https://www.scmp.com/opinion/china-opinion/article/3347634/oil-shocked-world-turns-renewables-china-will-reap-rewards?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3347634/oil-shocked-world-turns-renewables-china-will-reap-rewards?utm_source=rss_feed Thu, 26 Mar 2026 12:30:07 +0000 Ji Siqi Ji Siqi While China appears better prepared than other countries to deal with the shocks brought by the US-Israel war on Iran, its economy would still come under pressure in the short term if its regional partners suffer, an executive with a global consultancy has said. “China might be more resilient, but China is not resilient to a demand shock,” said Denis Depoux, a global managing director at consultancy Roland Berger. “For example, if the economy is slowing down in Southeast Asia, if people stop... https://www.scmp.com/economy/china-economy/article/3347932/demand-shock-china-cannot-escape-impact-long-iran-war-analyst-warns?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347932/demand-shock-china-cannot-escape-impact-long-iran-war-analyst-warns?utm_source=rss_feed Thu, 26 Mar 2026 08:00:09 +0000 Ralph Jennings Ralph Jennings The US-Israeli war in Iran could weaken the US dollar’s historic dominance in the oil-rich Middle East and bolster a “petroyuan” alternative backed by China’s currency, according to analysts at a leading European bank. Fallout from the nearly month-long conflict was testing the “foundations of the petrodollar regime”, while damage to Gulf economies “could encourage an unwind in their foreign asset savings”, Deutsche Bank analysts said in a research note published on Tuesday. “If the Gulf moves... https://www.scmp.com/economy/global-economy/article/3347893/iran-war-could-boost-chinas-petroyuan-and-weaken-us-dollar-dominance-analysts-say?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3347893/iran-war-could-boost-chinas-petroyuan-and-weaken-us-dollar-dominance-analysts-say?utm_source=rss_feed Thu, 26 Mar 2026 00:00:41 +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 Neil Denslow,Raymond Ma Neil Denslow,Raymond Ma Chinese petrol prices rose the most since 2000, even after unprecedented government intervention, as the war in Iran upends global oil markets. Petrol went up by 1,160 yuan (US$169) per tonne at the end of Monday and diesel prices rose by 1,115 yuan, according to the National Development and Reform Commission (NDRC). The increases would have been about twice as high had the usual pricing rules been followed, it said. The roughly 11 per cent increases, the fifth this year, came after Iran closed... https://www.scmp.com/plus/economy/china-economy/article/3347712/china-ev-makers-gain-iran-war-drives-fuel-costs?utm_source=rss_feed https://www.scmp.com/plus/economy/china-economy/article/3347712/china-ev-makers-gain-iran-war-drives-fuel-costs?utm_source=rss_feed Tue, 24 Mar 2026 09:17:11 +0000 Sylvia Ma Sylvia Ma As the Iran war fuels global fears of stagflation, a debate is intensifying over whether the crisis poses an immediate risk to China’s sources of external demand or a strategic opening for its exporters. Mirroring the supply chain upheavals of the pandemic era, the crisis has prompted new questions about whether China will be able to leverage its industrial base and supply-side resilience if a prolonged conflict further fractures global supply chains. “China’s economy looks strong on the surface... https://www.scmp.com/economy/china-economy/article/3347606/iran-conflict-prompts-questions-about-chinas-export-power-amid-fractured-supply-chains?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347606/iran-conflict-prompts-questions-about-chinas-export-power-amid-fractured-supply-chains?utm_source=rss_feed Mon, 23 Mar 2026 13:00:16 +0000 Ralph Jennings Ralph Jennings Chinese engineers have designed the country’s first tourist submersible equipped to venture as deep as 1,000 metres (3,280 feet) below the ocean surface, giving eventual new momentum to the luxury travel industry. Engineers at the China Ship Scientific Research Centre in Wuxi, a city west of Shanghai, plan to build a prototype before the end of the year and enter commercial operation by 2030 for as many as four passengers per trip, state-run media outlets said this week. Key components including... https://www.scmp.com/economy/china-economy/article/3346863/china-developing-first-tourist-submersible-trips-1000-metres-under-sea?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3346863/china-developing-first-tourist-submersible-trips-1000-metres-under-sea?utm_source=rss_feed Mon, 23 Mar 2026 02:00:09 +0000 Albert Bakhtizin Albert Bakhtizin War in Iran disrupting established trade flows raises an important question: how serious could the consequences be, and for whom will they be most severe? To answer this, it is useful to look at history. During the fifth and fourth centuries BC, Athens, a major centre, depended heavily on grain imports. Whenever routes were blocked during wars, Athens almost immediately faced the threat of a food crisis. In the Middle Ages, Venice became one of Europe’s richest cities and a crucial hub linking... https://www.scmp.com/opinion/world-opinion/article/3346896/hormuz-crisis-underlines-vulnerability-global-trade-chokepoints?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3346896/hormuz-crisis-underlines-vulnerability-global-trade-chokepoints?utm_source=rss_feed Sun, 22 Mar 2026 12:30:09 +0000 Xinyi Wu Xinyi Wu China’s imports of discounted Russian crude oil surged in January and February, though analysts suggest volumes could moderate in the coming months as the war in Iran increases global competition for Russian oil. In the first two months of the year, Russia’s shipments of crude to China rose 40.9 per cent year on year to 21.8 million tonnes, according to Chinese customs data released on Friday. But the total import value rose just 5.8 per cent in US dollar terms. “China has been an opportunistic... https://www.scmp.com/economy/china-economy/article/3347329/chinas-russian-oil-imports-spike-early-2026-iran-war-changes-outlook?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347329/chinas-russian-oil-imports-spike-early-2026-iran-war-changes-outlook?utm_source=rss_feed Fri, 20 Mar 2026 13:00:10 +0000 Carol Yang Carol Yang Global concerns are rising over the fate of ships and crews trapped in the Strait of Hormuz amid the intensifying Middle East conflict, as reports spread that Iran is rolling out screening processes and steep transit fees for vessels using the waterway. The International Maritime Organisation (IMO) called for the establishment of a “safe maritime framework” to ensure the swift evacuation of merchant ships confined within the Persian Gulf, after holding a special session on the Middle East... https://www.scmp.com/economy/china-economy/article/3347337/strait-hormuz-tensions-flare-iran-tightens-grip-over-shipping-traffic?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347337/strait-hormuz-tensions-flare-iran-tightens-grip-over-shipping-traffic?utm_source=rss_feed Fri, 20 Mar 2026 11:00:24 +0000 Zhang Shidong Zhang Shidong Chinese stocks have emerged as outperformers in the latest oil shock, reversing their reputation as laggards, as crude takes a back seat to renewable fuels in the world’s second-largest economy. The CSI 300 Index of stocks trading on the mainland’s exchanges has dropped 3.1 per cent since the US and Israel began attacks on Iran on February 28, outperforming the S&P 500, the Euro Stoxx 50 and Japan’s Nikkei 225, which have all slid at least 4 per cent during the period. This marked a turnaround... https://www.scmp.com/business/china-business/article/3347296/chinese-stocks-shake-laggard-image-amid-oil-shock-green-transition-pays?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3347296/chinese-stocks-shake-laggard-image-amid-oil-shock-green-transition-pays?utm_source=rss_feed Fri, 20 Mar 2026 08:15:30 +0000 Fan Chen Fan Chen China has pledged to work with Southeast Asian countries on energy security as the war in the Middle East continued to take its toll on global oil and gas supplies. “China stands ready to strengthen cooperation and coordination with Southeast Asian countries and jointly address energy security issues,” Chinese foreign ministry spokesman Lin Jian told a regular press conference on Thursday. Lin also called for an end to the conflict, saying: “Relevant countries need to stop military operations at... https://www.scmp.com/news/china/diplomacy/article/3347199/china-offers-help-southeast-asia-counter-impact-middle-east-war-energy-supplies?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3347199/china-offers-help-southeast-asia-counter-impact-middle-east-war-energy-supplies?utm_source=rss_feed Thu, 19 Mar 2026 12:25:05 +0000 Kandy Wong Kandy Wong With the US-Israel war on Iran entering its third week, the world faces the risk of a more severe oil shock as military strikes expand to major energy infrastructure, heightening fears of a prolonged conflict. In this explainer, the South China Morning Post examines the latest developments and factors driving oil price volatility and assesses the potential impact on the global economy. Energy infrastructure: what is the latest? An Israeli air strike hit energy facilities on Wednesday at Iran’s... https://www.scmp.com/economy/global-economy/article/3347193/if-iran-war-takes-oil-above-us120-barrel-how-bad-could-shock-get?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3347193/if-iran-war-takes-oil-above-us120-barrel-how-bad-could-shock-get?utm_source=rss_feed Thu, 19 Mar 2026 12:00:13 +0000 Neil Denslow,Raymond Ma Neil Denslow,Raymond Ma Oil prices surged about 10 per cent and Chinese stocks fell on Thursday as widening conflict in the Middle East created new concerns about global energy supplies. Brent crude, the global benchmark, touched US$117 a barrel, having risen 60 per cent since the US and Israel first attacked Iran on February 28. Hong Kong’s Hang Seng Index and the mainland CSI 300 both fell about 2 per cent. Prices of crude oil and gas jumped after Israel bombed Iran’s huge South Pars gas field and Iran responded by... https://www.scmp.com/plus/news/world/middle-east/article/3347165/iran-war-prompts-global-energy-rethink-favours-china?utm_source=rss_feed https://www.scmp.com/plus/news/world/middle-east/article/3347165/iran-war-prompts-global-energy-rethink-favours-china?utm_source=rss_feed Thu, 19 Mar 2026 09:19:48 +0000 Nicholas Spiro Nicholas Spiro As the war in Iran rages and the consequences of the shock to commodity markets become clearer, the vulnerability of Asia’s economies tops the list of concerns in the research reports of investment banks. The region’s reliance on energy imports from the Gulf has come under scrutiny. The facts speak for themselves. Three-quarters of the oil supplies that passed through the Strait of Hormuz before Iran effectively closed the waterway were destined for China, India, Japan and South Korea. While... https://www.scmp.com/opinion/china-opinion/article/3347108/china-weathering-iran-war-oil-shock-better-others-asia?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3347108/china-weathering-iran-war-oil-shock-better-others-asia?utm_source=rss_feed Thu, 19 Mar 2026 08:30:08 +0000 Carol Yang Carol Yang Saudi Arabia is activating its Red Sea “Plan B” to divert crude via the port of Yanbu, allowing tankers – including Chinese very large crude carriers (VLCCs) – to bypass the Strait of Hormuz, though analysts warn the route has limited capacity. The move comes after Iran effectively closed the strait in response to United States and Israeli military strikes, a conflict now in its third week that has rattled global energy markets. New Vista, a VLCC owned by China Merchants Energy Shipping, had... https://www.scmp.com/economy/global-economy/article/3347045/red-sea-fix-china-bound-oil-tankers-tap-saudi-plan-bypass-strait-hormuz?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3347045/red-sea-fix-china-bound-oil-tankers-tap-saudi-plan-bypass-strait-hormuz?utm_source=rss_feed Wed, 18 Mar 2026 14:00:08 +0000 Ralph Jennings Ralph Jennings China is offering solar energy to Cuba, an old ally left without power amid the US oil embargo, in a show of strength for Chinese renewable-energy credentials and a sign of Beijing’s economic footprint in Latin America. Beijing’s ambassador to Cuba, Hua Xin, on Monday outlined joint energy projects in progress as part of an effort to ease a “complex power situation” in the Caribbean nation, the Cuban Ministry of Foreign Affairs said. “China has always maintained that Latin America and the... https://www.scmp.com/economy/china-economy/article/3346978/china-help-cuba-solar-energy-amid-us-oil-blockade-and-total-power-outage?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3346978/china-help-cuba-solar-energy-amid-us-oil-blockade-and-total-power-outage?utm_source=rss_feed Wed, 18 Mar 2026 11:30:08 +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 Xinyi Wu,Ji Siqi Xinyi Wu,Ji Siqi Beijing is launching a pilot programme to expand industrial use of hydrogen energy, at a time when war in the Middle East is exposing the risks of global reliance on fossil fuels. Iran’s effective blockade of the Strait of Hormuz amid its war with the United States and Israel – now in its third week – has disrupted oil and gas supplies, prompting some nations to re-examine their energy mix, with renewables emerging as a potential hedge against volatility. In a Monday notice, the Ministry of... https://www.scmp.com/economy/china-economy/article/3346850/china-targets-hydrogen-push-strait-hormuz-crisis-jolts-energy-markets?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3346850/china-targets-hydrogen-push-strait-hormuz-crisis-jolts-energy-markets?utm_source=rss_feed Tue, 17 Mar 2026 06:03:05 +0000 Ryan Ip,David Yu Chak-wai Ryan Ip,David Yu Chak-wai The war in Iran, culminating in the de facto closure of the Strait of Hormuz, has again exposed the world’s energy and maritime sector to acute vulnerabilities. The spike in oil prices and surging freight rates may grab headlines, but beneath these shocks lie fundamental questions about Asia’s – and Hong Kong’s – energy security, the resilience of shipping risk management and the urgent need to transform our maritime industry for a greener future. The Strait of Hormuz is not just a geopolitical... https://www.scmp.com/opinion/hong-kong-opinion/article/3346529/iran-war-shows-urgency-hong-kongs-green-shipping-transition?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3346529/iran-war-shows-urgency-hong-kongs-green-shipping-transition?utm_source=rss_feed Mon, 16 Mar 2026 21:30:07 +0000 Neil Denslow,Raymond Ma Neil Denslow,Raymond Ma US President Donald Trump said he may put off a planned visit to Beijing as he sought to press China and other nations into helping reopen the Strait of Hormuz amid the war in Iran. “We may delay” the trip, he told the Financial Times on Sunday, without saying for how long. The visit, scheduled for March 31 to April 2, includes a summit with Chinese President Xi Jinping. Trump has “demanded” that about seven countries help to reopen the Strait of Hormuz, he told reporters on Sunday, as the... https://www.scmp.com/plus/news/china/diplomacy/article/3346744/china-may-snub-trump-plea-help-strait-hormuz?utm_source=rss_feed https://www.scmp.com/plus/news/china/diplomacy/article/3346744/china-may-snub-trump-plea-help-strait-hormuz?utm_source=rss_feed Mon, 16 Mar 2026 09:04:14 +0000 Ji Siqi Ji Siqi Despite its heavy reliance on oil and gas imports, China’s “national strength” insulates its energy security from short-term geopolitical shocks, a prominent petroleum geologist said. Jin Zhijun, dean of the Institute of Energy at Peking University, said that China – as a large country – could ensure its energy security amid a volatile international energy trading landscape, with multiple contingency plans in place. They included tapping more domestic resources by increasing oil and gas... https://www.scmp.com/economy/china-economy/article/3346173/chinas-size-strength-insulates-its-energy-security-amid-geopolitical-shocks-lawmaker?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3346173/chinas-size-strength-insulates-its-energy-security-amid-geopolitical-shocks-lawmaker?utm_source=rss_feed Wed, 11 Mar 2026 04:30:15 +0000