https://www.scmp.com/rss/514357/feed Sylvia Ma joined the Post in 2023 as a graduate trainee and covers China's economy. She holds a master’s degree in journalism from the University of Hong Kong and a bachelor’s degree in English from Fudan University. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Sylvia Ma Sylvia Ma A leading Chinese state media outlet has run back-to-back front-page editorials over the past two days pushing back against claims that China’s economy is losing steam and that the global economy is experiencing a “China shock 2.0”. “Looking across the globe, China’s growth target stands out as second to none,” the state-run Economic Daily wrote in a Thursday editorial, noting that the country’s goal of achieving 4.5 to 5 per cent growth in 2026 was far higher than the 2.6 per cent global growth... https://www.scmp.com/economy/china-economy/article/3348787/china-shock-20-false-narrative-born-western-anxiety-chinese-media?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3348787/china-shock-20-false-narrative-born-western-anxiety-chinese-media?utm_source=rss_feed Thu, 02 Apr 2026 07:55:43 +0000 Sylvia Ma Sylvia Ma China’s top Communist Party journal has reaffirmed the country’s push to rebalance trade, saying a worsening global environment marked by rising protectionism and geopolitical tensions is adding urgency to its ongoing shift from an “unsustainable” export-driven growth model. “The underlying conditions, and both domestic and external environment shaping China’s trade balance, are undergoing profound changes, while deep-seated weaknesses in the foreign trade sector remain pronounced,” said a... https://www.scmp.com/economy/global-economy/article/3348651/qiushi-reaffirms-chinas-trade-rebalance-push-calls-old-export-led-growth-unsustainable?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3348651/qiushi-reaffirms-chinas-trade-rebalance-push-calls-old-export-led-growth-unsustainable?utm_source=rss_feed Wed, 01 Apr 2026 12:00:08 +0000 Sylvia Ma Sylvia Ma China is ramping up efforts to deeply integrate artificial intelligence (AI) into its shipping industry by 2027, targeting breakthroughs in core technologies to build a smart maritime system as global competition intensifies. A new action plan by the Ministry of Transport and three other government bodies outlined a road map that includes creating at least three comprehensive pilot zones, launching more than five trial routes, developing over 10 replicable smart-shipping use cases and deploying... https://www.scmp.com/economy/china-economy/article/3348531/china-plans-ai-powered-smart-shipping-system-2027?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3348531/china-plans-ai-powered-smart-shipping-system-2027?utm_source=rss_feed Tue, 31 Mar 2026 09:09:50 +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 Sylvia Ma Sylvia Ma China is seeing surging public interest in science fiction amid its push for technological development, with revenues reaching a record high and online search traffic more than tripling last year, according to a new report. China’s sci-fi industry saw its gross revenues reach 126.1 billion yuan (US$18.2 billion) in 2025, up 15.7 per cent year on year, according to an annual report released at the China Science Fiction Convention on Friday, as reported by Xinhua. The report also highlighted a... https://www.scmp.com/economy/china-economy/article/3348421/chinas-sci-fi-industry-rides-tech-wave-revenues-hit-record-high?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3348421/chinas-sci-fi-industry-rides-tech-wave-revenues-hit-record-high?utm_source=rss_feed Mon, 30 Mar 2026 11:02:19 +0000 Sylvia Ma Sylvia Ma People’s Daily, a mouthpiece of China’s ruling Communist Party, has warned Japan that higher military spending and what the newspaper called a looming “defence bubble” will not save an economy weakened by the falling yen and Iran war energy crisis, amid a protracted diplomatic row between Beijing and Tokyo. In a Tuesday commentary published under the “Zhong Sheng” pen name – a pseudonym used to voice Beijing’s position on global affairs – the paper said the administration of Japanese Prime... https://www.scmp.com/economy/global-economy/article/3347708/china-warns-japan-new-militarism-takaichinomics-risk-instability?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3347708/china-warns-japan-new-militarism-takaichinomics-risk-instability?utm_source=rss_feed Tue, 24 Mar 2026 11:00:14 +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 Sylvia Ma,Ji Siqi Sylvia Ma,Ji Siqi Amid growing geopolitical turbulence, international capital is increasingly seeking certainty – which China offers – a leading Chinese government adviser highlighted on Sunday, as the country’s central bank governor reiterated commitment to rolling out the welcome mat for foreign investors. Speaking on the sidelines of the China Development Forum, Zheng Yongnian, dean of the school of public policy at the Chinese University of Hong Kong, Shenzhen, noted that capital had been flowing to Hong... https://www.scmp.com/economy/china-economy/article/3347470/international-capital-flowing-china-investors-seek-certainty-during-iranian-conflict?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347470/international-capital-flowing-china-investors-seek-certainty-during-iranian-conflict?utm_source=rss_feed Sun, 22 Mar 2026 08:24:20 +0000 Ji Siqi,Sylvia Ma Ji Siqi,Sylvia Ma Beijing has urged global commitment to opening up, while pledging to create more blue ocean markets in a world engulfed by protectionism. Delivering the opening address to the China Development Forum on Sunday, Chinese Premier Li Qiang said, “protectionism is by no means a panacea for solving problems”, instead calling for opening up and technological progress to drive new market growth. “[Now,] power politics is running rampant, acting with impunity; at the same time, calls to uphold fairness... https://www.scmp.com/economy/china-economy/article/3347456/premier-li-qiang-calls-global-pledge-open-while-power-politics-runs-rampant?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347456/premier-li-qiang-calls-global-pledge-open-while-power-politics-runs-rampant?utm_source=rss_feed Sun, 22 Mar 2026 01:36:02 +0000 Sylvia Ma Sylvia Ma Huang Yiping, a veteran Chinese economist, has attended countless policy forums and high-level summits over his long career. But one event at Peking University a decade ago stands out. Academic debates are often niche, sparsely attended affairs, but that afternoon in November 2016 was different. Seats in the auditorium were snatched up in minutes as people piled in to witness a showdown that had attracted nationwide attention. The public frenzy centred on a rare face-to-face clash between two... https://www.scmp.com/economy/china-economy/article/3346238/pivot-how-china-turbocharged-its-industrial-policy-and-remade-global-economy?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3346238/pivot-how-china-turbocharged-its-industrial-policy-and-remade-global-economy?utm_source=rss_feed Wed, 11 Mar 2026 22:00:08 +0000 Sylvia Ma Sylvia Ma Beijing aims to promote traditional Chinese medicine (TCM) around the world, saying it hopes it will help address global health challenges, particularly in developing countries. “We will bring Chinese traditional medicine and its culture more to the international community, while promoting mutual learning among traditional medicines,” Lei Haichao, head of the National Health Commission, said on the sidelines of the “two sessions” on Saturday. China would expand the global pool of medicinal... https://www.scmp.com/economy/china-economy/article/3345819/china-launch-tcm-global-health-mission-over-next-5-years?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345819/china-launch-tcm-global-health-mission-over-next-5-years?utm_source=rss_feed Sat, 07 Mar 2026 11:00:14 +0000 Sylvia Ma,Carol Yang Sylvia Ma,Carol Yang Beijing has pledged to expand imports and use its vast market to help other countries boost exports to the world’s second-largest economy – a move that could help balance global trade at a time when China’s export machine faces growing scrutiny. Beijing also planned to diversify markets and nurture new trade drivers such as artificial intelligence, seeking to stabilise trade as global supply chains come under mounting pressure from geopolitical conflicts, officials said. Commerce Minister Wang... https://www.scmp.com/economy/china-economy/article/3345772/beijing-vows-expand-imports-amid-china-shock-fears?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345772/beijing-vows-expand-imports-amid-china-shock-fears?utm_source=rss_feed Fri, 06 Mar 2026 14:10:26 +0000 Xinyi Wu,Sylvia Ma Xinyi Wu,Sylvia Ma Achieving this year’s inflation target would be one of China’s top economic tasks, a prominent economist and government adviser said, as it was pivotal to accomplishing other government priorities such as boosting consumption, raising incomes and achieving the required headline growth figures. “The inflation target corresponds to a state of relative equilibrium between supply and demand,” Zhang Bin, deputy director of the Institute of World Economics and Politics at the Chinese Academy of Social... https://www.scmp.com/economy/china-economy/article/3345690/hitting-inflation-target-key-chinas-other-economic-goals-adviser-says?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345690/hitting-inflation-target-key-chinas-other-economic-goals-adviser-says?utm_source=rss_feed Fri, 06 Mar 2026 07:00:16 +0000 Sylvia Ma,Carol Yang Sylvia Ma,Carol Yang China will set priorities for technological innovation, economic security, public well-being and carbon reduction over the next five years, vowing to lay a solid foundation for its 2035 target of doubling per capita gross domestic product from 2020 levels. The world’s second-largest economy will release 20 growth targets, including both binding and non-binding ones, in areas covering the economy, technology, healthcare and economic security, Premier Li Qiang said when outlining the broad strokes... https://www.scmp.com/economy/china-economy/article/3345525/china-step-tech-energy-and-decarbonisation-efforts-next-5-year-plan?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345525/china-step-tech-energy-and-decarbonisation-efforts-next-5-year-plan?utm_source=rss_feed Thu, 05 Mar 2026 05:54:25 +0000 Sylvia Ma Sylvia Ma In the run-up to this year’s ‘two sessions’ – the annual meetings of China’s top legislature and political advisory body – high-level policymakers have reiterated the need to defuse financial risks and root out political corruption, two of President Xi Jinping’s long-term priorities. In this series, we take stock of how those efforts have progressed, and what remains to be done. The iron ore trade between Australian miners and Chinese buyers has long followed a familiar, bruising pattern. Tense... https://www.scmp.com/economy/china-economy/article/3345155/can-chinas-roaring-trade-engine-power-yuans-challenge-us-dollar?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345155/can-chinas-roaring-trade-engine-power-yuans-challenge-us-dollar?utm_source=rss_feed Mon, 02 Mar 2026 22:00:09 +0000 Sylvia Ma Sylvia Ma With China’s currency having steadily strengthened in recent months, the central bank has rolled out a pair of measures to lower foreign exchange hedging costs and support cross-border yuan financing. In a notice on Thursday, the People’s Bank of China refined the framework for domestic banks to conduct cross-border yuan interbank financing, explicitly endorsing their role in providing stable yuan liquidity to offshore markets through regulated channels. The move comes as Beijing has been... https://www.scmp.com/economy/china-economy/article/3344894/yuan-sizzles-chinas-central-bank-deploys-double-barrelled-policy-tweak?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3344894/yuan-sizzles-chinas-central-bank-deploys-double-barrelled-policy-tweak?utm_source=rss_feed Fri, 27 Feb 2026 10:36:47 +0000 Sylvia Ma Sylvia Ma China should leverage bilateral and multilateral deals to accelerate the adoption of its cross-border payment system, a prominent political adviser has urged, as concerns deepen over the potential for intensified “financial weaponisation” in a global payment system centred around the US dollar. “Given escalating geopolitical conflicts, frequent financial sanctions and a growing trend of financial weaponisation, the risk of ‘payment chain disruptions’ caused by excessive reliance on external... https://www.scmp.com/economy/china-economy/article/3344727/whats-next-chinas-yuan-payment-system-adviser-banks-close-trade-partners?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3344727/whats-next-chinas-yuan-payment-system-adviser-banks-close-trade-partners?utm_source=rss_feed Thu, 26 Feb 2026 12:00:09 +0000 Sylvia Ma Sylvia Ma The International Monetary Fund (IMF) has called on China to make the shift to a consumption-led growth model an “overarching priority”, while urging the country to curb what it called “unwarranted industrial policy” amid mounting external imbalances. The IMF staff’s recommendations, issued ahead of Beijing’s annual parliamentary meetings, joined increasingly loud calls for economic rebalancing, particularly after China’s record trade surplus last year. “China needs to move decisively towards... https://www.scmp.com/economy/china-economy/article/3344557/imf-urges-china-prioritise-consumption-led-rebalancing-curb-industrial-policy?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3344557/imf-urges-china-prioritise-consumption-led-rebalancing-curb-industrial-policy?utm_source=rss_feed Wed, 25 Feb 2026 08:47:38 +0000 Sylvia Ma Sylvia Ma China’s yuan has strengthened to its highest level against the US dollar in nearly three years, with its official fixing rate also firming amid growing uncertainty over the American currency. On Wednesday afternoon, the offshore yuan traded at 6.867 per US dollar, its strongest level since April 2023. The same day, the People’s Bank of China set the yuan’s midpoint rate – also known as the daily fixing – at 6.9321 per US dollar, also the strongest since May 2023. The currency has appreciated... https://www.scmp.com/economy/china-economy/article/3344582/chinas-yuan-strengthens-near-3-year-high-us-dollar-uncertainty-grows?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3344582/chinas-yuan-strengthens-near-3-year-high-us-dollar-uncertainty-grows?utm_source=rss_feed Wed, 25 Feb 2026 08:15:05 +0000 Sylvia Ma Sylvia Ma With Hong Kong set to unveil its annual budget, economists have said the city should strengthen its role in pushing the internationalisation of the Chinese yuan as Beijing presses ahead with financial opening while keeping stability firmly in view. From expanding offshore yuan products to using its stablecoin regulations as a sandbox for potential cross-border payment channels, the experts said that Hong Kong could help realise the nation’s vision of becoming a “financial powerhouse”, especially... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3344264/should-hong-kongs-next-budget-make-room-taking-yuan-global-experts-weigh?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3344264/should-hong-kongs-next-budget-make-room-taking-yuan-global-experts-weigh?utm_source=rss_feed Mon, 23 Feb 2026 00:00:30 +0000 Sylvia Ma Sylvia Ma The Australian frigate HMAS Toowoomba sailed through the Taiwan Strait on Friday and Saturday, monitored closely by the People’s Liberation Army, which remained on alert throughout the transit, according to a mainland Chinese media report. The Global Times, a nationalist newspaper affiliated with the Communist Party mouthpiece People’s Daily, reported the vessel’s passage on Saturday, citing a Chinese military source. Citing a military fan site that monitors airspace activities around the... https://www.scmp.com/news/china/military/article/3344247/beijing-monitors-australian-frigate-hmas-toowoombas-passage-through-taiwan-strait?utm_source=rss_feed https://www.scmp.com/news/china/military/article/3344247/beijing-monitors-australian-frigate-hmas-toowoombas-passage-through-taiwan-strait?utm_source=rss_feed Sun, 22 Feb 2026 07:59:54 +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 Sylvia Ma Sylvia Ma China’s central bank set the yuan’s daily fixing rate at its strongest level since mid-2023 on Wednesday, as the Chinese currency extended gains with investors increasingly rotating out of US dollar assets amid concerns over the Federal Reserve’s independence and US debt sustainability. The People’s Bank of China set the yuan’s midpoint rate – also known as the daily fixing rate – at 6.9438 to the US dollar, which marked the strongest level in 33 months. The move followed months of steady... https://www.scmp.com/economy/china-economy/article/3343174/china-lets-yuan-rise-strongest-level-years-de-dollarisation-trend-grows?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3343174/china-lets-yuan-rise-strongest-level-years-de-dollarisation-trend-grows?utm_source=rss_feed Wed, 11 Feb 2026 08:11:12 +0000 Kandy Wong,Sylvia Ma Kandy Wong,Sylvia Ma The sudden death of a top fund manager in Shanghai – the latest in a string of similar cases – has raised alarm in China’s financial sector, as worries grow over the health risks posed by the industry’s intense work culture. Shen Xianbing, a founding partner of the private fund Qilin Investment, died on Monday at the age of 40, the company announced the same day, without explaining the cause of his death. The former University of Science and Technology of China graduate had served as a founding... https://www.scmp.com/business/banking-finance/article/3342225/chinas-finance-sector-rocked-another-sudden-death-amid-overwork-fears?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3342225/chinas-finance-sector-rocked-another-sudden-death-amid-overwork-fears?utm_source=rss_feed Tue, 03 Feb 2026 08:32:08 +0000 Sylvia Ma Sylvia Ma US President Donald Trump’s nomination of Kevin Warsh to head the Federal Reserve is unlikely to support a sustained rebound in the US dollar despite the possibility of short-term relief, Chinese economists said. Persistent doubts about the Fed’s autonomy during Trump’s second term could cap any durable recovery, as policy appeared increasingly geared towards domestic goals at the expense of the US dollar’s role as a global public good, they added. Concerns over the central bank’s independence... https://www.scmp.com/economy/global-economy/article/3342106/america-first-fed-chinese-economists-doubt-trumps-chair-nominee-can-shore-us-dollar?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3342106/america-first-fed-chinese-economists-doubt-trumps-chair-nominee-can-shore-us-dollar?utm_source=rss_feed Mon, 02 Feb 2026 11:00:15 +0000 Sylvia Ma Sylvia Ma Interest in de-dollarisation has spiked in Chinese academic and policy circles, as Beijing grows increasingly wary of the United States’ potential to weaponise its currency. The surge has been most visible in the volume of research. A search by the South China Morning Post on China National Knowledge Infrastructure (CNKI), one of the country’s largest academic research databases, showed the number of papers on the subject more than doubled from 2023 to 2025 compared with the preceding three... https://www.scmp.com/economy/global-economy/article/3341876/trade-war-global-instability-push-de-dollarisation-chinas-academic-mainstream?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3341876/trade-war-global-instability-push-de-dollarisation-chinas-academic-mainstream?utm_source=rss_feed Mon, 02 Feb 2026 00:00:10 +0000 Sylvia Ma Sylvia Ma The United States has urged China to allow the yuan to appreciate, accusing Beijing of a lack of transparency and describing the currency as “substantially undervalued”. “It is important that the Chinese authorities allow the RMB exchange rate to strengthen in a timely and orderly manner in line with market pressure and macroeconomic fundamentals,” the US Treasury said in a report released on Thursday. China’s exchange-rate policies stood out among major US trading partners for their “relative... https://www.scmp.com/economy/global-economy/article/3341801/us-presses-china-let-yuan-strengthen-avoids-currency-manipulator-label?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3341801/us-presses-china-let-yuan-strengthen-avoids-currency-manipulator-label?utm_source=rss_feed Fri, 30 Jan 2026 07:01:09 +0000 Sylvia Ma Sylvia Ma Gold’s blistering rally to start 2026 – surging past US$5,500 an ounce – has already eclipsed many full-year price targets, forcing analysts to upgrade their outlooks. And for some, the US$6,000 threshold is now in view. The buying spree has prompted some Chinese funds to suspend new purchases, with one warning investors of “the risk of trading at a premium in the secondary market”. As of midday Thursday, spot gold stood at about US$5,540 per ounce, easing from an earlier high of US$5,598... https://www.scmp.com/economy/global-economy/article/3341653/runaway-gold-why-even-wall-street-cant-keep-metals-record-ascent?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3341653/runaway-gold-why-even-wall-street-cant-keep-metals-record-ascent?utm_source=rss_feed Thu, 29 Jan 2026 06:48:57 +0000 Sylvia Ma Sylvia Ma For decades, the US dollar has served as the currency of global reserve, the de facto anchor for the vast majority of international exchanges. Consequently, United States government debt – most commonly in the form of Treasury assets such as bonds, notes and bills – has long been regarded as a safe haven by investors, prized for its unmatched liquidity and deep market penetration. That faith has remained strong in the past, even amid global financial crises. But the events of recent weeks... https://www.scmp.com/economy/global-economy/article/3341391/age-trump-are-safe-haven-us-assets-not-so-safe-any-more?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3341391/age-trump-are-safe-haven-us-assets-not-so-safe-any-more?utm_source=rss_feed Tue, 27 Jan 2026 22:00:13 +0000 Sylvia Ma Sylvia Ma With domestic margins shrinking and global trade risks rising, China’s commerce authorities are unveiling a state-backed business resource aimed at helping companies navigate and accelerate their global expansions. A national-level service platform will serve as a centralised full-service hub addressing companies’ common needs, including policy consultation, business services, country-specific information, resource matching and risk management, according to Wang Ya, an official heading the... https://www.scmp.com/economy/global-economy/article/3341281/beyond-borders-beijing-equips-chinese-firms-global-stage-amid-trade-jitters?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3341281/beyond-borders-beijing-equips-chinese-firms-global-stage-amid-trade-jitters?utm_source=rss_feed Mon, 26 Jan 2026 12:30:14 +0000 Sylvia Ma Sylvia Ma China’s central bank has strengthened the yuan’s daily fixing rate to break through the psychologically important level of 7 per US dollar for the first time since May 2023, as the American currency weakens amid concerns over recent US attempts to gain control of Greenland. The People’s Bank of China set the yuan’s midpoint rate – also known as the daily fixing rate – at 6.9929 to the US dollar on Friday, after weeks of keeping the benchmark just on the weaker side of the 7 mark. The move came... https://www.scmp.com/economy/china-economy/article/3340929/china-sets-yuan-strongest-rate-years-greenland-furore-affects-us-dollar?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3340929/china-sets-yuan-strongest-rate-years-greenland-furore-affects-us-dollar?utm_source=rss_feed Fri, 23 Jan 2026 04:00:48 +0000 Sylvia Ma Sylvia Ma China should leverage its massive buying power to boost imports settled in yuan and shift towards a more balanced trade structure, to accelerate the currency’s global use, according to a former central bank adviser. The proposal signals a potential opportunity for the yuan’s internationalisation, years after Beijing kicked off the process in 2009 by allowing selected exporters to be paid in the Chinese currency. “China is the world’s largest goods exporter, but the yuan’s international standing... https://www.scmp.com/economy/china-economy/article/3340653/china-should-leverage-buying-power-boost-yuans-use-trade-former-pboc-adviser?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3340653/china-should-leverage-buying-power-boost-yuans-use-trade-former-pboc-adviser?utm_source=rss_feed Wed, 21 Jan 2026 05:36:24 +0000 Sylvia Ma,Xinyi Wu Sylvia Ma,Xinyi Wu China has confirmed that it achieved its annual growth target last year as the economy weathered an unprecedented trade war with the United States, but growth slowed to a three-year low in the final quarter, dragged down by a series of domestic headwinds. Analysts expressed concern about China’s “lopsided” growth – with robust exports contrasting with soft internal demand – but pointed to the services sector as a “bright spot” as Beijing looks to shore up the economy heading into a new five-year... https://www.scmp.com/economy/economic-indicators/article/3340360/chinas-gdp-rises-5-2025-us-trade-war-fails-knock-economy-course?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3340360/chinas-gdp-rises-5-2025-us-trade-war-fails-knock-economy-course?utm_source=rss_feed Mon, 19 Jan 2026 01:59:48 +0000 Sylvia Ma Sylvia Ma US President Donald Trump’s call for American credit card interest rates to be capped at 10 per cent for a year has sparked a debate in China about whether Beijing should impose a similar limit on online loans. The discussion comes as many in China – especially younger people – are being enticed by credit offers amid a weak job market and a boom in online loan services. “Apps now keep luring young people into borrowing,” a finance blogger with nearly 500,000 followers wrote in a social media... https://www.scmp.com/economy/china-economy/article/3340182/trump-urges-cap-credit-card-rates-could-china-follow-suit-online-loans?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3340182/trump-urges-cap-credit-card-rates-could-china-follow-suit-online-loans?utm_source=rss_feed Sat, 17 Jan 2026 11:00:09 +0000 Ji Siqi,Sylvia Ma,Dewey Sim Ji Siqi,Sylvia Ma,Dewey Sim China and Canada have agreed to remove the triple-digit tariffs imposed on each other’s imports – a major thaw in relations after years of icy diplomatic and trade ties – as Canadian Prime Minister Mark Carney wrapped up his state visit in Beijing. Canada will remove the additional 100 per cent in tariffs it had levied on Chinese electric vehicle (EV) imports – imposed in 2024 following a similar move from the United States – while China will lower its tariffs on Canadian canola, Carney said on... https://www.scmp.com/economy/global-economy/article/3340160/canada-remove-100-tariffs-chinese-ev-imports-prime-minister?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3340160/canada-remove-100-tariffs-chinese-ev-imports-prime-minister?utm_source=rss_feed Fri, 16 Jan 2026 09:08:04 +0000 Ji Siqi,Sylvia Ma Ji Siqi,Sylvia Ma China’s central bank is looking to pump 900 billion yuan (US$129.2 billion) worth of additional funds into private and technology firms, alongside slashing key policy relending rates by a quarter of a percentage point, in a fresh round of monetary easing designed to shore up the economy. The new plan includes an extra 500 billion yuan for agriculture and small businesses, said Zou Lan, a deputy governor of the bank, at a press conference in Beijing on Thursday. The bank will also expand its... https://www.scmp.com/economy/china-economy/article/3339992/china-cut-key-policy-lending-rates?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3339992/china-cut-key-policy-lending-rates?utm_source=rss_feed Thu, 15 Jan 2026 07:17:43 +0000 Sylvia Ma Sylvia Ma The so-called China Shock 2.0 narrative is incomplete, analysts argued, as they noted that domestic macroeconomic forces in China and the West, particularly the United States, are at play in driving their growing external trade imbalance. The term, coined to describe new global ramifications of China’s manufacturing dominance – a phenomenon echoing the trade shock of the early 2000s – has been under renewed debate, particularly as China recorded a goods trade surplus of more than US$1 trillion... https://www.scmp.com/economy/china-economy/article/3339017/fears-over-chinas-trade-surplus-misplaced-us-europe-also-driving-trend-analysts?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3339017/fears-over-chinas-trade-surplus-misplaced-us-europe-also-driving-trend-analysts?utm_source=rss_feed Tue, 13 Jan 2026 12:00:11 +0000 Sylvia Ma Sylvia Ma China’s central bank strengthened the yuan’s daily fixing for a third consecutive session to a nearly 16-month high, as the currency also held firm in offshore markets despite recent US dollar strength. On Tuesday, the People’s Bank of China set the yuan’s midpoint rate, also known as the daily fixing rate, at 7.0103 to the US dollar – the strongest showing since the end of September 2024, when the rate was set at 7.0074. That official midpoint rate, however, was still weaker than that of the... https://www.scmp.com/economy/china-economy/article/3339699/chinas-central-bank-sets-onshore-yuan-fixing-strongest-point-nearly-16-months?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3339699/chinas-central-bank-sets-onshore-yuan-fixing-strongest-point-nearly-16-months?utm_source=rss_feed Tue, 13 Jan 2026 06:00:15 +0000 Sylvia Ma Sylvia Ma China’s industry regulator has pledged to provide more fiscal support for small-scale innovative firms in specialised industries – such as the country’s “little giants” – as part of a basket of measures designed to boost the country’s technological self-reliance and upgrade key industries. Li Lecheng, the head of China’s Ministry of Industry and Information Technology, told Xinhua that central authorities would implement a fresh round of fiscal support policies for small and medium-sized firms... https://www.scmp.com/economy/china-economy/article/3339608/china-vows-more-support-little-giant-firms-amid-self-sufficiency-push?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3339608/china-vows-more-support-little-giant-firms-amid-self-sufficiency-push?utm_source=rss_feed Mon, 12 Jan 2026 12:30:20 +0000 Alice Li,Sylvia Ma Alice Li,Sylvia Ma China has vowed to deepen cooperation in new energy and green minerals with the nations in the Global South, saying the move is in line with their industrial goals and a step towards further advancing Beijing’s economic opening-up, according to the latest front-page commentary in the Communist Party’s official newspaper. “Amid profound changes in the global environment, [China’s commitment to further opening up] underscores our confidence and responsibility in upholding openness and win-win... https://www.scmp.com/economy/global-economy/article/3339569/china-pledges-green-energy-push-global-south-signals-wider-market-opening?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3339569/china-pledges-green-energy-push-global-south-signals-wider-market-opening?utm_source=rss_feed Mon, 12 Jan 2026 07:05:24 +0000 Sylvia Ma,Alice Li Sylvia Ma,Alice Li A mouthpiece for China’s ruling Communist Party has warned against conflicting economic measures, urging officials to better guide market expectations in a front-page commentary highlighting Beijing’s growing focus on policy coordination. “The more policies there are, the greater the risk they will be working at odds,” the People’s Daily editorial said on Friday, pointing to China’s increasingly complex economic environment, “with more and more policy dilemmas emerging and greater demands on... https://www.scmp.com/economy/china-economy/article/3339364/china-cautions-against-compound-errors-clashing-policies?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3339364/china-cautions-against-compound-errors-clashing-policies?utm_source=rss_feed Fri, 09 Jan 2026 12:30:18 +0000 Ji Siqi,Sylvia Ma Ji Siqi,Sylvia Ma China has launched a market competition probe and assessment for its food delivery platforms, the State Council announced on Friday, a move analysts said was an affirmation of the country’s determination to continue to combat self-defeating competition. “Recently, issues such as excessive subsidies, price wars and control over traffic flow in the online food delivery platform service industry have become prominent,” according to a statement issued by the Anti-Monopoly and Anti-Unfair Competition... https://www.scmp.com/economy/china-economy/article/3339342/china-probe-food-delivery-platforms-under-anti-monopoly-law?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3339342/china-probe-food-delivery-platforms-under-anti-monopoly-law?utm_source=rss_feed Fri, 09 Jan 2026 09:17:12 +0000 Sylvia Ma,Alice Li Sylvia Ma,Alice Li China’s economy has successfully weathered mounting shocks, including US tariffs and technology curbs, and continues to innovate despite a challenging environment, according to the mouthpiece of the ruling Communist Party. “Practice has fully demonstrated that China’s economic fundamentals are solid and its resilience strong, and that it is fully capable of withstanding rough waters and even stormy waves,” the People’s Daily said in an editorial on Thursday, published at the start of the first... https://www.scmp.com/economy/china-economy/article/3339170/china-says-us-trade-war-tech-curbs-have-spurred-independent-innovation?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3339170/china-says-us-trade-war-tech-curbs-have-spurred-independent-innovation?utm_source=rss_feed Thu, 08 Jan 2026 08:08:27 +0000 Alice Li,Sylvia Ma Alice Li,Sylvia Ma As the period covered by China’s next five-year plan begins, the official newspaper of the country’s ruling Communist Party urged local governments to curb the herd behaviour that could fuel “involution” – the fierce competition that has driven down prices and undermined sustainable growth within several industries. “China has a vast territory, and the imbalances between regions and between urban and rural areas remain significant. There is no one-size-fits-all solution for high-quality... https://www.scmp.com/economy/china-economy/article/3339062/china-discourages-trend-chasing-among-officials-warning-involution?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3339062/china-discourages-trend-chasing-among-officials-warning-involution?utm_source=rss_feed Wed, 07 Jan 2026 12:00:12 +0000 Sylvia Ma Sylvia Ma China’s central bank has reiterated its commitment to a “moderately loose” policy stance in 2026, pledging stronger countercyclical and cross-cycle adjustments and signalling flexible and efficient use of reserve requirement ratio (RRR) cuts and interest rate reductions to support a strong start to the 15th five-year plan. At a work conference outlining priorities for the coming year, the People’s Bank of China also highlighted goals including a reasonable recovery in prices, mitigating... https://www.scmp.com/economy/china-economy/article/3339018/chinas-central-bank-signals-reserve-ratio-interest-rate-cuts-2026?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3339018/chinas-central-bank-signals-reserve-ratio-interest-rate-cuts-2026?utm_source=rss_feed Wed, 07 Jan 2026 08:30:27 +0000 Sylvia Ma Sylvia Ma Safe-haven assets, including gold and the US dollar, gained further traction after the United States’ abduction of Venezuelan leader Nicolas Maduro, while the Chinese yuan remained relatively resilient despite the stronger dollar. The spot gold price rose to more than US$4,420 per ounce early on Monday morning, before edging down to US$4,402 per ounce by midday, according to financial data provider Wind. Meanwhile, the US dollar index rose to 98.76 from 98.41 at the start of trading on... https://www.scmp.com/economy/china-economy/article/3338727/us-dollar-gold-rise-after-maduro-seizure-investors-seek-safe-havens?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3338727/us-dollar-gold-rise-after-maduro-seizure-investors-seek-safe-havens?utm_source=rss_feed Mon, 05 Jan 2026 04:44:55 +0000 Sylvia Ma Sylvia Ma China aims to expand its west-to-east power transmission network to more than 420 gigawatts (GW) by 2030, increasing the share of renewables to about 30 per cent of total electricity output as it pursues a greener transition and a more reliable power supply. The targets were outlined in guidelines issued by the National Development and Reform Commission, the country’s top economic planner, together with the National Energy Administration. In addition to strengthening long-distance transmission... https://www.scmp.com/economy/china-economy/article/3338522/china-vows-ramp-west-east-power-output-ai-hi-tech-manufacturing-fuel-demand?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3338522/china-vows-ramp-west-east-power-output-ai-hi-tech-manufacturing-fuel-demand?utm_source=rss_feed Sat, 03 Jan 2026 02:00:20 +0000 Sylvia Ma,Kandy Wong Sylvia Ma,Kandy Wong Recent data on China’s external accounts presents a conundrum: while the country’s trade surplus has broken records, surpassing the US$1 trillion benchmark in the first 11 months of the year, growth in its official foreign exchange reserves has lagged. This seeming paradox prompts a question – where did the money go? Analysts said the gap reflects how much of the surplus has flowed back overseas through asset investment, largely made by private-sector players, leaving China’s external accounts... https://www.scmp.com/economy/china-economy/article/3338034/china-has-logged-us1-trillion-trade-surplus-where-all-money-going?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3338034/china-has-logged-us1-trillion-trade-surplus-where-all-money-going?utm_source=rss_feed Mon, 29 Dec 2025 13:00:10 +0000 Sylvia Ma Sylvia Ma China’s central bank has set the yuan’s daily reference rate at its strongest level in 15 months, as the currency strengthened in offshore trading and briefly broke through the closely watched seven-per-US-dollar threshold. The People’s Bank of China set the yuan’s midpoint, or daily fixing rate, at 7.0331 to the US dollar on Monday – its strongest showing since early October 2024. The move followed a recent rally in the Chinese currency, with the offshore yuan briefly breaching the benchmark... https://www.scmp.com/economy/economic-indicators/article/3337988/china-sets-yuan-fixing-rate-15-month-high-amid-offshore-gains?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3337988/china-sets-yuan-fixing-rate-15-month-high-amid-offshore-gains?utm_source=rss_feed Mon, 29 Dec 2025 05:00:07 +0000 Sylvia Ma Sylvia Ma The yuan has strengthened in recent months, with the offshore rate hitting its highest level against the US dollar in more than a year, fuelling forecasts that it could reach as high as 6.8 in 2026. The currency’s international profile has also inched upwards as Beijing pushes for wider global use. In this explainer, the Post reviews the yuan’s progress across several fronts, drawing on a recent analysis by Betty Wang, head of North Asia research at Oxford Economics. How far has the yuan... https://www.scmp.com/economy/china-economy/article/3337438/what-chinas-yuan-internationalisation-push-looks-and-what-may-hold-it-back?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3337438/what-chinas-yuan-internationalisation-push-looks-and-what-may-hold-it-back?utm_source=rss_feed Tue, 23 Dec 2025 06:00:45 +0000