https://www.scmp.com/rss/517941/feed The latest news on China Communications Construction, a Chinese multinational engineering and construction company, including engineering and design industry news. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Jevans Nyabiage Jevans Nyabiage Kenya has revived construction on its multibillion-dollar Standard Gauge Railway (SGR) extension that stalled more than six years ago, replacing heavy sovereign debt with innovative financing after renegotiating its loans with China. According to Kenyan officials, China Communications Construction Company (CCCC) and its subsidiary, China Road and Bridge Corporation, will build the railway’s two remaining sections at an estimated cost of US$5.4 billion. Kenyan President William Ruto earlier this... https://www.scmp.com/news/china/diplomacy/article/3348406/china-and-kenya-partner-finish-most-consequential-rail-project?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3348406/china-and-kenya-partner-finish-most-consequential-rail-project?utm_source=rss_feed Tue, 31 Mar 2026 04:00:11 +0000 Finbarr Bermingham Finbarr Bermingham To European Commission President Ursula von der Leyen, the ribbon of rail snaking from the Democratic Republic of the Congo and Zambia across Angola to the Atlantic port of Lobito is “more than just infrastructure”. The Lobito Corridor rail upgrade is a flagship project of the EU’s €300 billion (US$346 billion) infrastructure drive, Global Gateway, launched to great fanfare in 2021 as a rival to Beijing’s own Belt and Road Initiative. It is also pivotal to the EU’s efforts to wean itself off... https://www.scmp.com/news/china/diplomacy/article/3348330/eus-flagship-africa-project-under-fire-over-ties-chinese-state-owned-firms?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3348330/eus-flagship-africa-project-under-fire-over-ties-chinese-state-owned-firms?utm_source=rss_feed Mon, 30 Mar 2026 04:00:08 +0000 Ralph Jennings Ralph Jennings Chinese railway giants look set to scout Eurasia in the years ahead to build high-speed train lines as the domestic market matures and some countries are more prepared than others for capital-intensive yet transformative ventures, analysts said. Inspired by China-invested projects such as the 142km (88-mile) Jakarta-Bandung high-speed line in Indonesia and the partly finished 350km (217-mile) Budapest-Belgrade railway, Chinese construction and engineering firms are expected to expand their... https://www.scmp.com/economy/global-economy/article/3344149/rail-ahead-high-speed-lines-saturate-china-how-far-can-their-global-reach-extend?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3344149/rail-ahead-high-speed-lines-saturate-china-how-far-can-their-global-reach-extend?utm_source=rss_feed Sat, 21 Feb 2026 08:00:12 +0000 Xiaofei Xu Xiaofei Xu Just 24 hours after abducting the former Venezuelan leader Nicolas Maduro and his wife from Caracas, US President Donald Trump had already named his next potential target for military action: Greenland. Trump has been discussing “a range of options” – including the use of armed force – to acquire the self-governed Danish territory, the White House said on Tuesday. What would a US takeover of Greenland mean for China, if it were to really happen? The Post breaks down trade relations between the... https://www.scmp.com/economy/china-economy/article/3339054/trump-says-greenland-surrounded-chinese-ships-whats-real-story?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3339054/trump-says-greenland-surrounded-chinese-ships-whats-real-story?utm_source=rss_feed Wed, 07 Jan 2026 14:30:12 +0000 Xinlu Liang Xinlu Liang The world’s longest expressway tunnel has opened to traffic in the Xinjiang Uygur autonomous region, capping five years of construction on a project designed to increase China’s links with Central Asia. The 22.13km (13.75-mile) Tianshan Shengli Tunnel, the centrepiece of the Urumqi-Yuli Expressway, officially opened on Friday, creating a 20-minute drive through the Tianshan Mountains that divide northern and southern Xinjiang. The tunnel halves the travel time between the regional capital Urumqi... https://www.scmp.com/news/china/politics/article/3337815/chinas-mega-expressway-tunnel-opens-xinjiang-halves-north-south-travel-time?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3337815/chinas-mega-expressway-tunnel-opens-xinjiang-halves-north-south-travel-time?utm_source=rss_feed Fri, 26 Dec 2025 11:00:11 +0000 William Zheng William Zheng China has boosted its strategic capacity from land reclamation to deep-sea mining and pipelines, with the successful completion of sea trials for Asia’s largest trailing suction hopper dredger (TSHD). The Tongjun – China’s first domestically designed super dredger – completed its five days of testing in the Yellow Sea off the northeastern Chinese coast on Tuesday, three months after its launch, according to state news agency Xinhua. With a hopper capacity of more than 38,000 cubic metres (1.3... https://www.scmp.com/news/china/science/article/3334215/chinas-mega-dredger-joins-ranks-worlds-largest-after-passing-sea-trials?utm_source=rss_feed https://www.scmp.com/news/china/science/article/3334215/chinas-mega-dredger-joins-ranks-worlds-largest-after-passing-sea-trials?utm_source=rss_feed Wed, 26 Nov 2025 10:00:25 +0000 Ling Xin Ling Xin The world’s longest cable-stayed bridge opened to traffic in Jiangsu province, eastern China on Tuesday, connecting the cities of Changzhou and Taizhou and slashing the travel time from over an hour to just 20 minutes. The Changtai Yangtze River Bridge stretches 10.3km (6.4 miles) with a main span of 1,208 metres (3,960 feet). It is the river’s first crossing to carry an expressway, regular road and intercity railway, all on the same structure. Officials said the bridge – which took six years to... https://www.scmp.com/news/china/science/article/3325066/china-launches-record-smashing-cable-stayed-mega-bridge-over-yangtze-river?utm_source=rss_feed https://www.scmp.com/news/china/science/article/3325066/china-launches-record-smashing-cable-stayed-mega-bridge-over-yangtze-river?utm_source=rss_feed Thu, 11 Sep 2025 02:00:12 +0000 Jevans Nyabiage Jevans Nyabiage Despite Washington’s framing of a key railway network in Angola as a strategic counter to China, the CEO of the Lobito Atlantic Railway (LAR) says the company is “a purely commercial entity” with “zero geopolitical considerations”. Nicholas Fournier, the newly appointed chief executive, said in an interview with the South China Morning Post that the company was just one part of the broader Lobito Corridor, which aims to increase economic activity along the route. LAR has strong commercial ties... https://www.scmp.com/news/china/diplomacy/article/3322922/no-geopolitics-involved-angola-rail-project-not-aimed-countering-china-ceo-says?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3322922/no-geopolitics-involved-angola-rail-project-not-aimed-countering-china-ceo-says?utm_source=rss_feed Sat, 23 Aug 2025 12:00:08 +0000 Bloomberg Bloomberg China’s key construction machinery sales jumped in the first half, indicating improving demand across the economically crucial sector. Domestic excavator sales, which usually ramp up as builders prepare for projects, climbed almost 23 per cent from a year earlier during the January-June period, data compiled by the China Construction Machinery Association showed. The equipment is a key barometer of activity in the construction industry and can serve as a proxy for steel demand. The latest... https://www.scmp.com/business/article/3317678/chinas-first-half-sales-construction-equipment-surge-sign-economic-recovery?utm_source=rss_feed https://www.scmp.com/business/article/3317678/chinas-first-half-sales-construction-equipment-surge-sign-economic-recovery?utm_source=rss_feed Thu, 10 Jul 2025 07:22:19 +0000 For two decades, oil has been the crux of Sino-Angolan relations, but now, in a post-oil and post-loans era, Angola is banking on mining, agriculture and manufacturing to redefine its economic ties with China. On Friday, while hosting Angolan President Joao Lourenco for bilateral talks in Beijing, Chinese President Xi Jinping said China would help Angola “achieve agricultural modernisation, industrialisation and economic diversification”. China will help Angola strengthen cooperation in mining... https://www.scmp.com/news/china/diplomacy/article/3255766/beijing-visit-shows-china-and-angola-are-redefining-economic-relationship-post-oil-post-loans-era?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3255766/beijing-visit-shows-china-and-angola-are-redefining-economic-relationship-post-oil-post-loans-era?utm_source=rss_feed Mon, 18 Mar 2024 06:07:28 +0000 China’s increased appetite for metals and minerals to power its industries is fuelling a boom in Chinese investments and construction deals in Africa, after years of slowdown partly caused by the coronavirus pandemic. African countries that have a Belt and Road Initiative cooperation agreement with China saw a 47 per cent jump in Chinese construction contracts and a 114 per cent increase in investments last year compared with 2022, according to the China Belt and Road Initiative Investment... https://www.scmp.com/news/china/diplomacy/article/3252032/global-green-transition-re-energising-chinas-investments-africa-after-pandemic-slowdown?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3252032/global-green-transition-re-energising-chinas-investments-africa-after-pandemic-slowdown?utm_source=rss_feed Fri, 16 Feb 2024 01:00:16 +0000 The Forest City mega-project in Johor has faced years of scrutiny over project delays, low uptake and controversy. But in the see-sawing fortunes of Chinese investment in Malaysia, it is by no means the only one. The country saw billions of dollars of Chinese investments – some pledged, some real – during the tenure of jailed former prime minister Najib Razak, who sought to bolster Malaysia’s flagging fortunes by pulling in foreign funds for major infrastructure projects, chiefly via China’s... https://www.scmp.com/week-asia/economics/article/3248263/not-just-forest-city-look-malaysias-chinese-backed-projects-have-faced-uncertainty-controversy?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3248263/not-just-forest-city-look-malaysias-chinese-backed-projects-have-faced-uncertainty-controversy?utm_source=rss_feed Sat, 13 Jan 2024 06:00:24 +0000 In October, Vietnam’s President Vo Van Thuong attended the third Belt and Road Initiative Forum (BRF), which commemorated the 10th anniversary of the Belt and Road Initiative – a hallmark strategy that signifies China’s ascent as a global economic powerhouse. During his meetings with Chinese leaders, Thuong underscored the importance of harnessing Beijing’s infrastructure programme to enhance connectivity and trade linkages between Vietnam and China. Yet despite Vietnam’s official support for... https://www.scmp.com/week-asia/opinion/article/3245228/vietnam-rethinks-scepticism-chinas-belt-and-road-initiative-laos-cambodia-reap-benefits?utm_source=rss_feed https://www.scmp.com/week-asia/opinion/article/3245228/vietnam-rethinks-scepticism-chinas-belt-and-road-initiative-laos-cambodia-reap-benefits?utm_source=rss_feed Sun, 17 Dec 2023 02:00:26 +0000 Thirty-day visa-free travel for Chinese tourists to Malaysia is likely to bolster the country’s weak tourism numbers, but some tour operators fear the swift return of all-inclusive packages paid in China that leave little on the table for domestic businesses. The announcement on Sunday by Prime Minister Anwar Ibrahim launches Malaysia into direct competition for tourist dollars with neighbouring Thailand – which rolled out its own visa exemptions for Chinese, Indian, Russians and Kazakhs ahead... https://www.scmp.com/week-asia/economics/article/3242998/malaysia-offers-visa-free-travel-chinese-tourists-will-domestic-operators-see-benefit?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3242998/malaysia-offers-visa-free-travel-chinese-tourists-will-domestic-operators-see-benefit?utm_source=rss_feed Tue, 28 Nov 2023 00:30:17 +0000 Talks between Joe Biden and Xi Jinping in San Francisco helped to calm “the dispute for supremacy at the global level”, a senior Peruvian official said, while calling on the US and China to boost trade engagement with developing economies. Wednesday’s summit between the US and Chinese presidents took place as the Californian city hosted the annual Apec leaders’ meetings. Trade and Tourism Minister Juan Carlos Mathews of Peru – the 2024 Asia-Pacific Economic Cooperation host country – is expected... https://www.scmp.com/news/china/diplomacy/article/3242018/us-china-need-engage-more-developing-apec-economies-trade-chief-2024-host-nation-peru-says?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3242018/us-china-need-engage-more-developing-apec-economies-trade-chief-2024-host-nation-peru-says?utm_source=rss_feed Sat, 18 Nov 2023 14:00:08 +0000 When most people think of China’s Belt and Road Initiative, they picture mega ports, high-speed rail lines and billion-dollar highways. They don’t tend to picture alignment on technical standards or cooperation on customs regulations, and yet, according to Beijing, this is the sort of thing the belt and road will be focusing on in its second decade. During his keynote speech at the recently concluded Belt and Road Forum, President Xi Jinping said belt and road cooperation had already “expanded... https://www.scmp.com/comment/opinion/article/3239293/chinas-belt-and-road-will-still-focus-hard-infrastructure-whatever-beijing-says?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3239293/chinas-belt-and-road-will-still-focus-hard-infrastructure-whatever-beijing-says?utm_source=rss_feed Sun, 29 Oct 2023 21:30:08 +0000 Victoria International Container Terminal (VICT) in Melbourne has acquired two automated ship-to-shore cranes made by Chinese port equipment manufacturer Shanghai Zhenhua Heavy Industries. The cranes will allow the terminal to receive some of the biggest trade vessels coming into the country, VICT said in a statement earlier this week. VICT, a fully-automated container terminal serving large trade vessels and operational since 2017, is a subsidiary of Manila-based International Container... https://www.scmp.com/business/companies/article/3236669/philippine-owned-australian-container-terminal-vict-acquires-two-automated-cranes-chinas-shanghai?utm_source=rss_feed https://www.scmp.com/business/companies/article/3236669/philippine-owned-australian-container-terminal-vict-acquires-two-automated-cranes-chinas-shanghai?utm_source=rss_feed Sun, 08 Oct 2023 07:00:11 +0000 The Chinese humanitarian group GX Foundation was set up to provide cataract surgery, but it has also helped promote the image of China and its state-owned enterprises across the developing world. The Hong Kong-based foundation has sent Chinese medical practitioners to perform more than 3,600 eye operations, helping to clear the backlog of cataract patients in countries including Cambodia, Laos, Mauritania and Senegal. The non-governmental organisation (NGO) has also performed hundreds of... https://www.scmp.com/news/china/diplomacy/article/3231603/chinese-ngo-fixes-eyes-while-helping-state-owned-companies-build-community-ties-overseas?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3231603/chinese-ngo-fixes-eyes-while-helping-state-owned-companies-build-community-ties-overseas?utm_source=rss_feed Sat, 19 Aug 2023 04:00:16 +0000 Philippine President Ferdinand Marcos Jnr has said all reclamation projects in Manila Bay but one have been suspended, days after the United States expressed concerns over the involvement of a Chinese firm and the impact of the activities on the environment. Marcos Jnr did not specify which of the 13 approved projects were put on hold due to problems in executing them. “All are suspended. The reclamation projects are under review except one that has been pushed through since the review was... https://www.scmp.com/week-asia/politics/article/3230498/philippines-halts-reclamation-work-amid-us-concerns-over-chinese-firm-environment-impact?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3230498/philippines-halts-reclamation-work-amid-us-concerns-over-chinese-firm-environment-impact?utm_source=rss_feed Wed, 09 Aug 2023 09:00:24 +0000 Philippine senators have heaped pressure on the Ferdinand Marcos Jnr administration to shun Chinese companies and products, in retaliation against Beijing’s increasingly hostile actions in the disputed South China Sea. Senate President Juan Miguel Zubiri said the country should cast its commerce net wide to attract other allies instead of remaining dependent on China, Manila’s largest trading partner. “Let’s also look for other trading partners where we can grow and improve our economy so that... https://www.scmp.com/week-asia/politics/article/3230398/philippines-should-secure-new-trade-deals-pivot-away-china-lawmakers-urge?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3230398/philippines-should-secure-new-trade-deals-pivot-away-china-lawmakers-urge?utm_source=rss_feed Tue, 08 Aug 2023 11:01:28 +0000 Hong Kong authorities have called for the quick resolution of a labour dispute involving construction workers of a publicly funded transitional housing project who say they are owed three months’ wages totalling HK$600,000 (US$76,880). Eight workers protested by chanting slogans and holding up banners that read “sweat with no pay” and “evil bosses have no conscience” at the construction site on Thursday. “I thought government projects would be safe [from problems]. Who knew they would stop... https://www.scmp.com/news/hong-kong/society/article/3229159/hong-kong-authorities-call-resolution-labour-dispute-transitional-housing-site-construction-workers?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3229159/hong-kong-authorities-call-resolution-labour-dispute-transitional-housing-site-construction-workers?utm_source=rss_feed Thu, 27 Jul 2023 13:02:43 +0000 China and Russia have been strengthening their Arctic collaboration, from energy and science to defence, as climate change opens up the prospect of a viable northern sea route and turns the polar region into another front for US-China rivalry. EU sanctions in the wake of the war in Ukraine forced Moscow to seek new markets for its crude oil, with the bulk of its exports now going to China and India via the long and costly southern sea route through the Suez Canal. But melting sea ice has... https://www.scmp.com/news/china/military/article/3228477/western-sanctions-and-distrust-draw-china-russia-closer-arctic?utm_source=rss_feed https://www.scmp.com/news/china/military/article/3228477/western-sanctions-and-distrust-draw-china-russia-closer-arctic?utm_source=rss_feed Tue, 25 Jul 2023 01:00:21 +0000 Italy’s position should be clearer when Prime Minister Giorgia Meloni and her fellow Group of Seven leaders meet in Japan later this month. Four years after Rome signed up for Beijing’s massive infrastructure project, the Belt and Road Initiative, Meloni will reportedly say where her country stands on the partnership. When Italy signed on in 2019, it was the first G7 country to join the initiative and did so even as the China-US rivalry began hitting its stride and wariness was emerging in the... https://www.scmp.com/news/china/diplomacy/article/3219690/where-did-chinas-belt-and-road-plans-go-wrong-italy?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3219690/where-did-chinas-belt-and-road-plans-go-wrong-italy?utm_source=rss_feed Sun, 07 May 2023 15:00:13 +0000 China has opened a hotpot restaurant on Woody Island, part of the disputed Paracels archipelago in the South China Sea. It marks the latest soft push from Beijing to consolidate its claims in the busy, strategically important waterway, most of which it claims under what it calls its historical “nine-dash line”. Woody Island, known as Yongxing in China, is the largest outcrop in the group of about 30 islands making up the Paracels. Called Xisha in Chinese, the archipelago is controlled by Beijing... https://www.scmp.com/news/china/diplomacy/article/3218912/south-china-sea-beijing-opens-hotpot-restaurant-woody-island-disputed-paracels-chain?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3218912/south-china-sea-beijing-opens-hotpot-restaurant-woody-island-disputed-paracels-chain?utm_source=rss_feed Sun, 30 Apr 2023 07:59:48 +0000 China is developing a record-breaking dredger 50 per cent more powerful than its existing “super island builder”, the project’s chief engineer said. The new self-propelled suction dredger being developed will feature a 10,000kW reamer, the first in the world, according to Qin Bin, chief engineer of the Tianjin Waterway Bureau, a subsidiary of the state-owned China Communications Construction Company (CCCC). In comparison, its predecessor the Tian Jing – the main vessel involved in building... https://www.scmp.com/news/china/diplomacy/article/3213206/china-develops-dredger-more-powerful-artificial-island-builder-south-china-sea?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3213206/china-develops-dredger-more-powerful-artificial-island-builder-south-china-sea?utm_source=rss_feed Sat, 11 Mar 2023 22:00:17 +0000 Chinese President Xi Jinping made a veiled criticism of the United States amid the row over an alleged spy balloon, saying the country would never accept hegemonic behaviour. Xi made the comments during a meeting with Cambodian Prime Minister Hun Sen in Beijing on Friday, where he also told his guest: “Development is not the right of only a few countries.” “Engaging in ideological confrontation, politicising and weaponising economic, trade and scientific exchanges, pushing for decoupling,... https://www.scmp.com/news/china/diplomacy/article/3209823/chinese-president-xi-jinping-takes-veiled-swipe-us-hegemony-wake-spy-balloon-row?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3209823/chinese-president-xi-jinping-takes-veiled-swipe-us-hegemony-wake-spy-balloon-row?utm_source=rss_feed Fri, 10 Feb 2023 12:55:29 +0000 Chinese banks and authorities are ramping up aid to ease private developers’ liquidity woes following the official release of Beijing’s rescue plan for the sector. Stocks of Chinese developers jumped on the news as banks rushed to provide credit lines to several struggling home builders. A Bank of China representative said the bank is expected to offer support to more developers, without providing details, after the lender on Wednesday signed an agreement with China Vanke, the nation’s... https://www.scmp.com/business/banking-finance/article/3200816/chinese-banks-pledge-billions-credit-support-help-struggling-developers-after-beijing-confirms?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3200816/chinese-banks-pledge-billions-credit-support-help-struggling-developers-after-beijing-confirms?utm_source=rss_feed Thu, 24 Nov 2022 05:41:19 +0000 Shares of Chinese state-owned companies surged on Tuesday after the country’s most senior financial regulator pledged to build “a capital market with Chinese characteristics” to better reflect the valuation of listed companies. “Valuation directly reflects the market recognition of a listed company,” Yi Huiman, chairman of the China Securities Regulatory Commission, said in a keynote speech in Beijing on Monday. “We will build a capital market with Chinese characteristics so the market can... https://www.scmp.com/business/china-business/article/3200583/state-owned-companies-surge-chinas-top-regulator-pledges-build-capital-market-chinese?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3200583/state-owned-companies-surge-chinas-top-regulator-pledges-build-capital-market-chinese?utm_source=rss_feed Tue, 22 Nov 2022 10:49:08 +0000 Importers were forced to transport their cargo via Kenya’s Standard Gauge Railway (SGR) because of a deal signed by its previous government with the Export-Import Bank of China, documents show. The agreement required Kenya Ports Authority, which owns the port of Mombasa, to guarantee a certain amount of cargo traffic to the SGR, funded and built by China. China given advantages in loan for Kenyan rail project, contract shows Failure to do so would require payment of the difference from its... https://www.scmp.com/news/china/diplomacy/article/3199217/china-rail-loan-terms-behind-kenya-ban-road-freight-deal-shows?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3199217/china-rail-loan-terms-behind-kenya-ban-road-freight-deal-shows?utm_source=rss_feed Sat, 12 Nov 2022 10:00:17 +0000 The Nairobi Expressway built and financed by the state-owned China Road and Bridge Corporation has officially opened for public use, reflecting a new financing model for Beijing and its trade-focused Belt and Road Initiative in Africa. Kenyan President Uhuru Kenyatta on Sunday officiated the commissioning of the expressway, which links the country’s main airport to the capital city Nairobi. The road spans 27.1km (16.8 miles) and was financed for US$668 million by the state-owned China... https://www.scmp.com/news/china/diplomacy/article/3187354/china-backed-nairobi-expressway-opens-kenya-paving-way-more?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3187354/china-backed-nairobi-expressway-opens-kenya-paving-way-more?utm_source=rss_feed Mon, 01 Aug 2022 23:00:25 +0000 Hong Kong’s stock benchmark slumped to the lowest in more than six weeks amid a surge in coronavirus cases in Shanghai as China’s zero-Covid policy and tech-sector crackdown continue to subject any market recovery to sudden shocks. The Hang Seng Index retreated 1.3 per cent to 20,844.74 at the close of Tuesday trading, the lowest level since May 27. The Tech Index lost 2.1 per cent, while the Shanghai Composite Index fell 1 per cent. Alibaba Group Holding, the owner of this newspaper, sank 5.4... https://www.scmp.com/business/china-business/article/3184951/alibaba-byd-drag-hong-kong-stocks-three-week-low-covid-19?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3184951/alibaba-byd-drag-hong-kong-stocks-three-week-low-covid-19?utm_source=rss_feed Tue, 12 Jul 2022 02:45:17 +0000 As a Chinese-built and financed tollway opens in Kenyan capital Nairobi, its most remarkable feature may be that it is an example of Beijing’s attempt to retool the financing behind its Belt and Road Initiative in Africa. The China Road and Bridge Corporation (CRBC) built the 27.1km (16.8 miles) Nairobi Expressway linking the country’s main airport and the capital. The US$668 million project was financed by the state-owned China Communications Construction Company, CRBC’s parent company. A... https://www.scmp.com/news/china/diplomacy/article/3177766/nairobi-tollway-example-chinas-new-belt-and-road-financing?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3177766/nairobi-tollway-example-chinas-new-belt-and-road-financing?utm_source=rss_feed Sat, 14 May 2022 12:30:24 +0000 Signs of economic slowdown caused by China’s uncompromising Covid policy have elevated the significance of the Communist Party’s Politburo meeting this week as traders look for a cure to end US$2 trillion stock rout this year. The monthly meeting, which typically reviews the state of the economy and sets the policy tone and direction for industries, comes into sharper focus amid factory closures and supply-chain disruptions caused by the citywide pandemic lockdown in Shanghai and curbs... https://www.scmp.com/business/markets/article/3175667/stock-investors-turn-politburo-surprises-meeting-gains?utm_source=rss_feed https://www.scmp.com/business/markets/article/3175667/stock-investors-turn-politburo-surprises-meeting-gains?utm_source=rss_feed Wed, 27 Apr 2022 07:05:41 +0000 Real estate investment trusts (Reits) are becoming China’s latest stock market darlings, as investors whiplashed by roller-coaster rides in the equity market seek buffers that still deliver consistent returns in the industry. The 11 pioneer infrastructure-backed Reits traded in Shenzhen and Shanghai have risen by 30 per cent on average since their debuts from as early as June last year. That included a 5.2 per cent advance this year, while benchmark stock indices in Shanghai and Hong Kong fell... https://www.scmp.com/business/banking-finance/article/3174768/reits-are-chinas-latest-market-darlings-quality-income?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3174768/reits-are-chinas-latest-market-darlings-quality-income?utm_source=rss_feed Tue, 19 Apr 2022 09:22:39 +0000 A top Chinese lender has imposed “aggressive” repayment terms on a US$200 million loan to expand Uganda’s international airport, US-based research lab AidData said Monday, criticising the bank for forcing the government to repay its debt before funding public services. Chinese state banks are the biggest source of infrastructure funding to Africa, and have been criticised for their predatory lending practices although details of contracts are rarely made public. Under the loan from China’s Exim... https://www.scmp.com/news/china/diplomacy/article/3168719/chinese-bank-imposes-aggressive-terms-over-uganda-airport-debt?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3168719/chinese-bank-imposes-aggressive-terms-over-uganda-airport-debt?utm_source=rss_feed Mon, 28 Feb 2022 12:59:53 +0000 Senior US diplomatic and military officials have visited Equatorial Guinea, reportedly to convince it to reject China’s plan to build a military base on the Central African nation’s Atlantic Coast. Molly Phee, the US assistant secretary of state for African affairs, was hosted by President Teodoro Obiang Nguema Mbasogo on Tuesday “to discuss issues of bilateral interest, how to work together to combat trafficking, and how to address climate change to ensure greater prosperity and security”, said... https://www.scmp.com/news/china/diplomacy/article/3167448/us-sends-officials-equatorial-guinea-it-tussles-china?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3167448/us-sends-officials-equatorial-guinea-it-tussles-china?utm_source=rss_feed Thu, 17 Feb 2022 15:00:23 +0000 In the last two years, some of Malaysia’s biggest export earners from the glove making and palm oil industries have seen their goods banned by the US government over allegations of forced labour. The A-listers sanctioned by Washington include Sime Darby and FGV Holdings, among the world’s biggest palm oil producers, with other buyers reportedly blocking them from their own supply chains as well. Top Glove, the world’s largest medical glove maker was banned by the US in July 2020 over... https://www.scmp.com/week-asia/economics/article/3163999/malaysias-track-record-labour-rights-under-scrutiny-investors?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3163999/malaysias-track-record-labour-rights-under-scrutiny-investors?utm_source=rss_feed Thu, 20 Jan 2022 00:30:17 +0000 China is building its first scientific research wharf in the southern island of Hainan, in its latest effort to boost exploration in the resource-rich South China Sea amid lingering distrust among Southeast Asian neighbours regarding the aims. The Nanshan Port Public Scientific Research Wharf, the first of its kind in China, is now under construction in Yazhou district in Hainan province’s southernmost city of Sanya, according to industry publication China Shipping News. Yazhou is home to... https://www.scmp.com/news/china/diplomacy/article/3155703/chinese-research-wharf-being-built-near-largest-fishing-port?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3155703/chinese-research-wharf-being-built-near-largest-fishing-port?utm_source=rss_feed Thu, 11 Nov 2021 12:00:23 +0000 India’s concerns over China’s growing influence in Sri Lanka have been exacerbated after the approval of controversial legislation governing a Chinese-funded US$1.4 billion project to build a special economic zone (SEZ) next to the main port in Colombo. The Colombo Port City Economic Commission Bill was passed by Sri Lanka’s 225-member parliament last month. Among other things, it empowers a seven-member body appointed by the president with complete control over all decisions related to the... https://www.scmp.com/week-asia/economics/article/3136486/indias-concerns-over-chinas-rising-influence-sri-lanka-grow?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3136486/indias-concerns-over-chinas-rising-influence-sri-lanka-grow?utm_source=rss_feed Tue, 08 Jun 2021 13:30:07 +0000 Sri Lanka’s parliament on Thursday passed a law installing a powerful economic commission to administer a huge Chinese luxury oceanside development after altering elements of the bill ruled unconstitutional by the country’s top court. The bill to create the Colombo Port City Economic Commission passed with a 149-58 vote in Sri Lanka’s 225-member Parliament. The CHEC Port City Colombo company, a unit of China Communications Construction Company, invested US$1.4 billion for reclamation of land and... https://www.scmp.com/news/asia/south-asia/article/3134280/sri-lanka-moves-ahead-major-port-project-amid-fears-chinas?utm_source=rss_feed https://www.scmp.com/news/asia/south-asia/article/3134280/sri-lanka-moves-ahead-major-port-project-amid-fears-chinas?utm_source=rss_feed Thu, 20 May 2021 23:17:24 +0000 Sri Lanka’s top court has ruled that some provisions of a bill to set up a powerful economic commission in a Chinese-built port city violate the constitution and require approval by a public referendum to become law. At the centre of the dispute are fears that the US$1.4 billion port city, part of China’s sweeping Belt and Road Infrastructure initiative, could become a virtual Chinese outpost or colony. Sri Lanka’s government is looking to the project as a lifeline for an economy wrecked by the... https://www.scmp.com/news/asia/south-asia/article/3134006/china-built-port-needs-public-approval-set-board-says-sri?utm_source=rss_feed https://www.scmp.com/news/asia/south-asia/article/3134006/china-built-port-needs-public-approval-set-board-says-sri?utm_source=rss_feed Wed, 19 May 2021 04:03:34 +0000 A seaport built by a Chinese company on the Kenyan island of Lamu will go into operation in June as Beijing aims to recreate an ancient Silk Road more than 600 years after Ming dynasty admiral Zheng He visited the area. According to historians, Zheng’s fleet paid four visits to the Kenyan coast, starting at the town of Malindi in 1418. Centuries later, China is trying to connect this history with several projects in Africa. The Kenya Ports Authority (KPA) said China Communications Construction... https://www.scmp.com/news/china/diplomacy/article/3129966/china-looks-recreate-ancient-silk-road-network-african-ports?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3129966/china-looks-recreate-ancient-silk-road-network-african-ports?utm_source=rss_feed Sun, 18 Apr 2021 10:00:12 +0000 Malaysia said on Monday that it had accepted an increase of nearly 14 per cent in the estimated construction cost for the proposed East Coast Rail Link (ECRL), part of China’s Belt and Road Initiative, as the length of the route would be slightly longer. The Malaysian unit of China Communications Construction Co Ltd, CCC-ECRL, is contracted to build the line. First proposed in 2017, the project linking the east and west coast of the Malaysian peninsula was suspended a year later after an... https://www.scmp.com/news/asia/southeast-asia/article/3128367/malaysia-agrees-cost-increase-china-backed-east-coast-rail?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3128367/malaysia-agrees-cost-increase-china-backed-east-coast-rail?utm_source=rss_feed Mon, 05 Apr 2021 09:17:21 +0000 Kenya is terminating its contract with Chinese-owned Africa Star Railway Operation Company (Afristar) for the operation of the Standard Gauge Railway, a move expected to save the country more than US$120 million in annual fees. The East African nation announced that it would assume all the functions of the railway by May next year, five years earlier than originally planned. Under the initial contract that China Road and Bridge Corporation (CRBC) signed with the Kenyan government, the Chinese... https://www.scmp.com/news/china/diplomacy/article/3125329/belt-and-road-initiative-end-line-chinas-afristar-rail-firm?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3125329/belt-and-road-initiative-end-line-chinas-afristar-rail-firm?utm_source=rss_feed Sun, 14 Mar 2021 08:00:13 +0000 A Philippine province has cancelled its award of a US$10 billion airport deal south of the capital, among the biggest projects involving a Chinese firm under President Rodrigo Duterte who has pursued warmer ties with Beijing since taking office in 2016. China Communications Construction Co (CCCC) and Filipino firm MacroAsia Corp won the auction in 2019 to partner with the Cavite provincial government to upgrade the Sangley airport. “The notice of selection and award for the Sangley Point... https://www.scmp.com/news/asia/southeast-asia/article/3119462/philippine-province-cancels-award-chinese-firms-us10?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3119462/philippine-province-cancels-award-chinese-firms-us10?utm_source=rss_feed Wed, 27 Jan 2021 08:57:49 +0000 The Trump administration stepped up efforts in its final days to crack down on China with new additions to a military blacklist, new sanctions aimed at pushing back on Beijing’s claims in the South China Sea and the addition of another Chinese corporate behemoth to its exports blacklist. The Defence Department added nine more firms on Thursday to its list of companies that it says have ties with the Chinese military, rounding out the total to 44. The firms include smartphone manufacturer Xiaomi... https://www.scmp.com/news/china/article/3117814/us-adds-chinese-oil-giant-chinese-national-overseas-oil-corporation?utm_source=rss_feed https://www.scmp.com/news/china/article/3117814/us-adds-chinese-oil-giant-chinese-national-overseas-oil-corporation?utm_source=rss_feed Thu, 14 Jan 2021 18:17:21 +0000 China promised to continue to support Myanmar’s peace talks with ethnic minority groups and to boost its coronavirus aid on the first stop of the foreign minister’s six-day tour of Southeast Asia. During Monday’s meetings with President Win Myint and State Counsellor Aung San Suu Kyi, Wang Yi also urged Myanmar to speed up construction work on the China-Myanmar Economic Corridor – a key element of the country’s Belt and Road Initiative. “China will support the new Myanmar government in... https://www.scmp.com/news/china/diplomacy/article/3117408/china-promises-support-myanmar-peace-talks-rebel-groups?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3117408/china-promises-support-myanmar-peace-talks-rebel-groups?utm_source=rss_feed Tue, 12 Jan 2021 10:30:12 +0000 As the Biden administration takes the reins in Washington, the stakes have never been higher for the US relationship with China and the rest of Asia. In the latest in a post-election series, Jodi Xu Klein explores the challenges facing US-listed Chinese companies. When large indices provider MSCI increased China shares a year ago to the highest single country weight in its emerging market benchmark, the Trump administration lent support for legislation to cut off corporate China from American... https://www.scmp.com/news/china/diplomacy/article/3114689/under-joe-biden-tapping-us-capital-markets-will-get-even?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3114689/under-joe-biden-tapping-us-capital-markets-will-get-even?utm_source=rss_feed Sun, 20 Dec 2020 14:00:10 +0000 MSCI, a major US investment index compiler, said on Tuesday that it would remove Chinese securities that President Donald Trump has blacklisted because of suspected ties with Chinese military. The securities being deleted are stocks listed in Hong Kong and Shanghai by Semiconductor Manufacturing International Corp (SMIC), China Communications Construction Co, China Spacesat, China Railway Construction, CRRC Corp, Hangzhou Hikvision and Dawning Information Industry. The securities will be removed... https://www.scmp.com/news/china/article/3114106/msci-remove-10-chinese-securities-its-indices-after-us-blacklist?utm_source=rss_feed https://www.scmp.com/news/china/article/3114106/msci-remove-10-chinese-securities-its-indices-after-us-blacklist?utm_source=rss_feed Wed, 16 Dec 2020 00:01:53 +0000 S&P Dow Jones Indices said it would remove 21 Chinese companies from its global stock and bond benchmarks after the Trump administration accused the companies of having ties to the Chinese military and barred US investors from trading or owning their securities. The index provider, an arm of S&P Global, said it would remove 10 companies, including surveillance camera maker Hangzhou Hikvision, supercomputer manufacturer Dawning Information (also known as Sugon), and Semiconductor Manufacturing... https://www.scmp.com/business/banking-finance/article/3113303/sp-dow-jones-indices-remove-21-chinese-companies-its?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3113303/sp-dow-jones-indices-remove-21-chinese-companies-its?utm_source=rss_feed Thu, 10 Dec 2020 03:20:17 +0000