https://www.scmp.com/rss/518012/feed The latest news on Chinese politician Gong Zheng, including political stories and updates. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Yulu Ao,Ann Cao,Wency Chen Yulu Ao,Ann Cao,Wency Chen China’s most powerful economic regions – the Yangtze River Delta and the Greater Bay Area – are racing to meet President Xi Jinping’s call for breakthroughs in core technologies including artificial intelligence, as Beijing maps out priorities for the coming 15th five-year plan during the “two sessions”. As part of the annual meeting on Friday, provincial and municipal leaders of Zhejiang province outlined an ambitious strategy to become a key area of AI development and cement the province’s... https://www.scmp.com/tech/article/3345770/chinas-zhejiang-guangdong-provinces-vie-heed-xi-jinpings-call-innovation?utm_source=rss_feed https://www.scmp.com/tech/article/3345770/chinas-zhejiang-guangdong-provinces-vie-heed-xi-jinpings-call-innovation?utm_source=rss_feed Fri, 06 Mar 2026 13:41:21 +0000 Mandy Zuo Mandy Zuo China’s economic locomotive Shanghai is aiming for a growth rate of around 5 per cent this year, after gradually rebounding since 2023 and reaching a better-than-expected 5.4 per cent growth last year. The megacity, whose economic size is comparable to that of Belgium with last year’s GDP totalling 5.67 trillion yuan (US$816.2 billion), is upgrading its role as a global financial, trade and shipping centre, Mayor Gong Zheng told the city’s annual plenary sessions on Tuesday. The government is... https://www.scmp.com/economy/china-economy/article/3342202/chinas-financial-powerhouse-shanghai-aims-5-growth-global-influence?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3342202/chinas-financial-powerhouse-shanghai-aims-5-growth-global-influence?utm_source=rss_feed Tue, 03 Feb 2026 09:00:37 +0000 Zhu Wenqian Zhu Wenqian In a move to bolster the stability of the property market, Shanghai unveiled a plan to buy second-hand homes for use as public rental housing, with the move timed to coincide with the opening of the city’s annual “two sessions” meetings. With the official launch of a pilot programme on Monday, the city aims to meet rental demand from young residents including college students and new urban arrivals. The initiative will roll out first in the downtown districts of Pudong, Jing’an and Xuhui. Backed... https://www.scmp.com/business/article/3342204/shanghai-buy-second-hand-homes-rental-housing-pilot-support-property-market?utm_source=rss_feed https://www.scmp.com/business/article/3342204/shanghai-buy-second-hand-homes-rental-housing-pilot-support-property-market?utm_source=rss_feed Tue, 03 Feb 2026 06:45:34 +0000 Alice Yan Alice Yan Street food vendors in southeastern China have donated a day’s income to a cancer-stricken colleague who is facing high medical bills. The touching move by stall holders took place on a food street near Fujian Normal University in Fuzhou, Fujian province on December 10. They are trying to help Zhang Jianwu, 50, who had been making and selling pan-fried meat cake on the street until recently when he was diagnosed with kidney cancer, according to a report by Fuzhou Daily. Zhang closed his stall... https://www.scmp.com/news/people-culture/trending-china/article/3336588/china-eatery-owners-use-cancer-hit-business-rivals-payment-qr-code-day-raise-funds?utm_source=rss_feed https://www.scmp.com/news/people-culture/trending-china/article/3336588/china-eatery-owners-use-cancer-hit-business-rivals-payment-qr-code-day-raise-funds?utm_source=rss_feed Mon, 22 Dec 2025 10:00:09 +0000 Daniel Ren Daniel Ren Relaxed visa rules, arts and cultural events, alongside landmark tourist destinations, have become new drivers for Shanghai’s economy as a surge in inbound travellers bolsters retail sales. The financial and commercial hub of mainland China attracted 5.5 million overseas tourists between January and August, up 37 per cent year on year, offering a much-needed boost to the city’s gross domestic product (GDP), which outpaced national growth for the first time in nearly a decade. Zhang Yina,... https://www.scmp.com/business/china-business/article/3330709/how-shanghai-leverages-arts-and-events-fuel-tourism-and-power-economic-growth?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3330709/how-shanghai-leverages-arts-and-events-fuel-tourism-and-power-economic-growth?utm_source=rss_feed Wed, 29 Oct 2025 04:30:08 +0000 Daniel Ren Daniel Ren Mainland China’s commercial and financial hub Shanghai has pledged to remove all regulatory hurdles for foreign investors to set up manufacturing businesses, as authorities move to shore up confidence in the local and national economies despite rising US-China trade tensions. Mayor Gong Zheng said on Sunday that deepened reforms had been carried out to grant overseas companies in the fields of electric vehicles, value-added telecommunications services, biotechnology and hospitals full access to... https://www.scmp.com/business/china-business/article/3328710/shanghai-scrap-all-foreign-investment-limits-manufacturing-facilities?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3328710/shanghai-scrap-all-foreign-investment-limits-manufacturing-facilities?utm_source=rss_feed Sun, 12 Oct 2025 12:30:10 +0000 Ann Cao Ann Cao Nvidia CEO Jensen Huang said losing China’s artificial intelligence (AI) market would be a huge loss, with the market poised for significant growth in the coming years, as the chip designer faces tightening export restrictions from Washington. China’s AI market is likely to grow to US$50 billion in the next two to three years, Huang said in an interview with US broadcaster CNBC on Tuesday. “It would be a tremendous loss not to be able to address it as an American company,” he said. Selling to... https://www.scmp.com/tech/tech-war/article/3309360/nvidias-jensen-huang-says-losing-china-would-be-tremendous-loss-amid-us-china-ai-race?utm_source=rss_feed https://www.scmp.com/tech/tech-war/article/3309360/nvidias-jensen-huang-says-losing-china-would-be-tremendous-loss-amid-us-china-ai-race?utm_source=rss_feed Wed, 07 May 2025 06:00:12 +0000 Ann Cao Ann Cao Artificial intelligence (AI) chip supplier Nvidia has denied a report that it is planning to set up a Chinese joint venture to maintain its business presence on the mainland, as it copes with US export restrictions on its graphics processing units (GPUs). Taiwanese tech media Digitimes reported on Monday that Nvidia’s CEO Jensen Huang was considering establishing a joint venture in mainland China to maintain the operations of the company’s CUDA computing platform, as well as other business... https://www.scmp.com/tech/tech-war/article/3308377/nvidia-denies-china-joint-venture-report-after-ceos-whirlwind-visit-beijing-shanghai?utm_source=rss_feed https://www.scmp.com/tech/tech-war/article/3308377/nvidia-denies-china-joint-venture-report-after-ceos-whirlwind-visit-beijing-shanghai?utm_source=rss_feed Tue, 29 Apr 2025 13:00:23 +0000 Following months of mounting complaints from China’s struggling businesses, several teams of investigators will be dispatched to hear their concerns directly – part of a nationwide fact-finding mission launched by the country’s cabinet to address persistent problems and take appropriate action. Coming hot on the heels of a promise-laden government work report at Beijing’s recent “two sessions” parliamentary gatherings that ordered local-level governments to effectively respond to business... https://www.scmp.com/economy/china-economy/article/3255569/china-vows-punishments-if-business-gripes-are-verified-state-councils-coming-investigation?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3255569/china-vows-punishments-if-business-gripes-are-verified-state-councils-coming-investigation?utm_source=rss_feed Fri, 15 Mar 2024 10:12:22 +0000 Owners of commercial properties in Shanghai are under pressure to cut rents to support restaurants and retailers facing the daunting task of sustaining their businesses amid lacklustre consumer demand. Shopping centres and retail outlets based in the city’s non-central business district (CBD) areas are likely to see a rise in vacancy rates due to the closure of unprofitable businesses, according to developers and property brokers. A senior executive with a major state-owned commercial property... https://www.scmp.com/business/china-business/article/3251667/shanghais-commercial-property-landlords-face-pressure-lower-rents-help-tenants-businesses-amid-weak?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3251667/shanghais-commercial-property-landlords-face-pressure-lower-rents-help-tenants-businesses-amid-weak?utm_source=rss_feed Mon, 12 Feb 2024 01:30:14 +0000 Ant Group and the Shanghai municipal government have struck a partnership that would see the two parties deepen their collaboration in fields such as blockchain and artificial intelligence (AI). Under the partnership, Ant Group, the fintech affiliate of Alibaba Group Holding, will “actively participate in building [an] artificial intelligence industry ecosystem and blockchain innovation platform in Shanghai”, according to a statement published on Wednesday. Alibaba owns the South China Morning... https://www.scmp.com/tech/big-tech/article/3250566/ant-group-inks-strategic-partnership-shanghai-help-citys-ai-ambitions?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3250566/ant-group-inks-strategic-partnership-shanghai-help-citys-ai-ambitions?utm_source=rss_feed Thu, 01 Feb 2024 11:00:21 +0000 Foreign companies including American electric car manufacturer Tesla and Porsche’s China sales arm are among the firms being sought for their input as Shanghai steps up implementation of a three-tiered cross-border data flow regime amid efforts to reel in and retain international businesses. Officials in China’s prominent industrial and commercial hub are striving to put in place by March lists of data permitted to flow abroad without restrictions, and of data that must receive further... https://www.scmp.com/economy/china-economy/article/3250187/tesla-porsche-chip-shanghai-seeks-fix-sore-point-foreign-firms-3-tier-cross-border-data-flow-rules?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3250187/tesla-porsche-chip-shanghai-seeks-fix-sore-point-foreign-firms-3-tier-cross-border-data-flow-rules?utm_source=rss_feed Mon, 29 Jan 2024 14:00:24 +0000 The municipal government of Shanghai has pledged to offer financing and land-use support to foreign investors, as mainland China’s financial and commercial hub further opens up the local economy amid a sluggish property market and weak consumer sentiment. Shanghai Mayor Gong Zheng said on Saturday that greater foreign direct investments, which hit an all-time high last year in the city, would effectively buttress the municipal government’s economic recovery efforts in 2024. “We will give more... https://www.scmp.com/business/china-business/article/3250008/shanghai-offers-financing-and-land-use-support-foreign-investors-city-commits-meet-5-cent-economic?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3250008/shanghai-offers-financing-and-land-use-support-foreign-investors-city-commits-meet-5-cent-economic?utm_source=rss_feed Sat, 27 Jan 2024 08:19:32 +0000 Blossoms Shanghai, Hong Kong filmmaker Wong Kar-wai’s hit about the heady opportunities and possibilities during the early 1990s in China’s financial hub, has captured the collective nostalgia of an entire nation, in more ways than one. Fans of the wildly popular 30-episode drama have been flocking to the restaurants, bars and clubs featured and visited by the show’s protagonist since its release on December 27. His Huanghe Road neighbourhood, a hub for Shanghai’s Xiao Long Bao (dumplings with a... https://www.scmp.com/business/china-business/article/3249945/wilting-fortunes-wong-kar-wais-blossoms-shanghai-drama-series-offers-stock-investors-painful-reality?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3249945/wilting-fortunes-wong-kar-wais-blossoms-shanghai-drama-series-offers-stock-investors-painful-reality?utm_source=rss_feed Sat, 27 Jan 2024 02:00:16 +0000 Shanghai, mainland China’s economic locomotive, failed to achieve its growth target for 2023 amid slumbering exports, which stayed flat even after the country’s reopening after the Covid-19 pandemic. The city’s gross domestic product (GDP) expanded 5 per cent to 4.72 trillion yuan (US$664.5 billion) last year as the global economy turned out to be weaker than expected, Mayor Gong Zheng told an annual session of the Shanghai People’s Congress on Tuesday. The growth pace fell short of a goal of... https://www.scmp.com/business/china-business/article/3249475/shanghai-failed-achieve-55-cent-economic-growth-target-2023-amid-complex-and-severe-external?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3249475/shanghai-failed-achieve-55-cent-economic-growth-target-2023-amid-complex-and-severe-external?utm_source=rss_feed Tue, 23 Jan 2024 08:00:06 +0000 Chinese Premier Li Qiang was among the top Chinese leaders who paid tribute at a memorial on Tuesday to Tang Xiao’ou, a leading expert on facial recognition, and the mastermind behind the US-sanctioned artificial intelligence giant SenseTime. The ceremony for Tang, who died on Friday from an undisclosed illness at the age of 55, featured an unusually high-profile list of mourners for a private citizen in China. Li and Vice-Premier Ding Xuexiang, both members of the seven-member Politburo... https://www.scmp.com/news/china/politics/article/3245786/chinas-premier-among-top-officials-pay-tribute-late-ai-visionary-tang-xiaoou?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3245786/chinas-premier-among-top-officials-pay-tribute-late-ai-visionary-tang-xiaoou?utm_source=rss_feed Wed, 20 Dec 2023 14:00:09 +0000 The municipal government of Shanghai, which is trying to model the city into China’s pre-eminent tech hub, has named 40 businesses in its first batch of tech champions, including US-sanctioned artificial intelligence (AI) firm SenseTime and video gaming studio miHoYo. US-sanctioned Shanghai Micro Electronics Equipment (SMEE), China’s best hope of producing advanced semiconductor machine tools, along with Jaka Robotics, Xiaodu Technology and Bilibili are also on the list, which means they are... https://www.scmp.com/tech/policy/article/3243954/shanghai-names-genshin-impact-creator-mihoyo-and-us-sanctioned-ai-firm-sensetime-among-citys-40-tech?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3243954/shanghai-names-genshin-impact-creator-mihoyo-and-us-sanctioned-ai-firm-sensetime-among-citys-40-tech?utm_source=rss_feed Tue, 05 Dec 2023 12:00:25 +0000 Hong Kong Chief Executive John Lee Ka-chiu has urged the strengthening of economic ties between Shanghai and Hong Kong as he envisions building world-class technology start-ups by tapping talent pools in both cities. On his first visit to mainland China’s commercial and financial hub since becoming Hong Kong’s top official in July 2022, Lee expressed confidence in the prospects of creating synergies between both cities to bolster technological innovation. “Hong Kong has our own advantages in... https://www.scmp.com/business/china-business/article/3240422/ciie-2023-hong-kong-leader-john-lee-pursues-stronger-economic-ties-shanghai-saying-two-cities?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3240422/ciie-2023-hong-kong-leader-john-lee-pursues-stronger-economic-ties-shanghai-saying-two-cities?utm_source=rss_feed Mon, 06 Nov 2023 00:30:29 +0000 China’s commerce minister has voiced support for Hong Kong’s green trade and professional services at a forum in Shanghai, urging the financial hub to better use its strengths to help mainland firms expand globally. Wang Wentao was addressing a forum on Sunday on the theme “Channelling global business through Hong Kong” held alongside the China International Import Expo, an annual trade fair. Chinese Premier Li Qiang toured an expo exhibition area where a record-high 300 booths of Hong Kong... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3240405/hong-kongs-role-gateway-mainland-chinese-firms-eyeing-global-market-become-more-important-amid?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3240405/hong-kongs-role-gateway-mainland-chinese-firms-eyeing-global-market-become-more-important-amid?utm_source=rss_feed Sun, 05 Nov 2023 09:45:56 +0000 Shanghai’s economy, rocked by mainland China’s troubled property sector and the nation’s tumbling stock market this year, has better growth prospects in 2024 when the US is widely expected to begin its interest rate-cutting cycle, according to an economic adviser to the local government. Yang Jianwen, a researcher at the Shanghai Academy of Social Sciences, told the Post on Monday that stability should be given a priority by the city government, which runs the local economy, as a slowdown in the... https://www.scmp.com/business/china-business/article/3238919/shanghais-economy-under-pressure-weak-property-and-stock-markets-home-banks-external-demand-drivers?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3238919/shanghais-economy-under-pressure-weak-property-and-stock-markets-home-banks-external-demand-drivers?utm_source=rss_feed Mon, 23 Oct 2023 23:00:16 +0000 Admitting economic turbulence ahead, Shanghai Mayor Gong Zheng exuded confidence after the city beat its growth target for the year, amid stepped-up efforts to draw foreign investment. The mayor said more landmark deals similar to Tesla’s Megapack energy-storage plant and Boston Scientific’s biotech factory are in the pipeline, which will bolster the local economy and burnish Shanghai’s image as an investment magnet. “Global investors are constantly increasing investment, delivering votes of... https://www.scmp.com/business/china-business/article/3238024/shanghai-mayor-vows-attract-even-more-foreign-business-after-tesla-and-boston-scientific-factories?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3238024/shanghai-mayor-vows-attract-even-more-foreign-business-after-tesla-and-boston-scientific-factories?utm_source=rss_feed Sun, 15 Oct 2023 13:30:21 +0000 Taipei Mayor Wayne Chiang Wan-an called for peace and dialogue between Taiwan and the Chinese mainland as he led a delegation to Shanghai on Tuesday for a three-day visit aimed at easing cross-strait hostilities. The visit by the great grandson of the late Kuomintang (KMT) leader Chiang Kai-shek – one of the few city-level official exchanges between the two sides – came as Beijing stepped up its warnings to Taipei not to ally with the United States to counter the mainland. “The cross-strait... https://www.scmp.com/news/china/politics/article/3232696/taipei-mayor-leads-delegation-shanghai-beijing-ramps-pressure-taiwan?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3232696/taipei-mayor-leads-delegation-shanghai-beijing-ramps-pressure-taiwan?utm_source=rss_feed Tue, 29 Aug 2023 09:42:25 +0000 Shanghai could be positioned to exert its influence as the “dragon’s head” of China’s economy, amid the city’s new charm offensive to lure global investors, with both the economic hub and nation as a whole struggling to attract multinational companies. Seen as being at the forefront of China’s bid to regain the confidence of foreign investors since its economic reopening, Shanghai is inviting overseas businesses to invest in high-quality projects through an enhanced “global investment partner”... https://www.scmp.com/economy/china-economy/article/3224907/chinas-economic-hub-urged-show-dragons-head-investor-push-shanghai-seeks-global-partners?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3224907/chinas-economic-hub-urged-show-dragons-head-investor-push-shanghai-seeks-global-partners?utm_source=rss_feed Thu, 22 Jun 2023 00:00:15 +0000 Singapore’s No 2 leader Lawrence Wong’s five-day visit to China offered airtime between emerging leaders and allowed Beijing to deepen ties with the city state amid growing wariness from the West, analysts said. Wong, who is deputy prime minister and finance chief, had on Tuesday met Chinese Premier Li Qiang, where they took stock of bilateral cooperation and discussed ways to further collaboration in areas including energy and sustainability. Both sides “reaffirmed the long-standing and strong... https://www.scmp.com/week-asia/politics/article/3220889/singapores-no-2-leader-lawrence-wong-cements-ties-chinas-emerging-leaders-timely-visit?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3220889/singapores-no-2-leader-lawrence-wong-cements-ties-chinas-emerging-leaders-timely-visit?utm_source=rss_feed Wed, 17 May 2023 10:40:25 +0000 Shanghai, the financial and commercial hub of China, has pledged to roll out more relief measures to support ailing small businesses hit hard by past pandemic curbs, as the metropolis pursues a consumption-led economic recovery this year. That commitment was made on Sunday by Mayor Gong Zheng, who said economic sweeteners like tax cuts and government subsidies are in the works in line with the city’s goal this year to achieve a gross domestic product (GDP) growth rate of 5.5 per cent. “Local... https://www.scmp.com/business/china-business/article/3206904/shanghai-pledges-tax-cuts-government-subsidies-ailing-small-businesses-city-sharpens-focus-economic?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3206904/shanghai-pledges-tax-cuts-government-subsidies-ailing-small-businesses-city-sharpens-focus-economic?utm_source=rss_feed Sun, 15 Jan 2023 13:15:43 +0000 Shanghai, China’s commercial and financial hub, will strive to achieve gross domestic product growth of 5.5 per cent in 2023 on the back of a consumption-led recovery, despite the headwinds buffeting the global economy, according to Mayor Gong Zheng. “We will align the tasks of expanding domestic demand and deepening the supply-side reform to pursue healthy growth with stable employment and consumer prices,” he said in a report to the local legislature on Wednesday. “Considering all factors, we... https://www.scmp.com/business/china-business/article/3206385/shanghai-targets-55-cent-consumption-led-gdp-growth-2023-it-looks-recover-ground-lost-covid-lockdown?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3206385/shanghai-targets-55-cent-consumption-led-gdp-growth-2023-it-looks-recover-ground-lost-covid-lockdown?utm_source=rss_feed Wed, 11 Jan 2023 07:30:35 +0000 Shanghai, China’s primary commercial and financial hub, is banking on an electronic shopping coupon lottery to revive consumer spending and reclaim its pride as the mainland’s key economic growth engine. The municipal government is pinning hopes on 1 billion yuan (US$140.5 million) worth of retail vouchers to encourage its 25 million residents to buy goods and services. The coupons will be doled out in a lottery system in three rounds through November, it announced in August. The size of the... https://www.scmp.com/business/china-business/article/3194673/can-peanuts-save-shanghais-covid-ravaged-retail-sales-and?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3194673/can-peanuts-save-shanghais-covid-ravaged-retail-sales-and?utm_source=rss_feed Tue, 04 Oct 2022 04:30:08 +0000 The Communist Party is set to hold its 20th national congress in mid-October, a gathering that will usher in a new line-up of the party’s leadership. In the third piece in a three-part series exploring the rules of the personnel reshuffle, Mimi Lau looks at the shared traits among those likely to be promoted to key national positions. In February 2020, the Communist Party faced one of its worst crises in three decades as the deadly coronavirus, first detected in the central Chinese province of... https://www.scmp.com/news/china/politics/article/3193290/what-does-it-take-get-promoted-chinese-politics-and-comers?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3193290/what-does-it-take-get-promoted-chinese-politics-and-comers?utm_source=rss_feed Wed, 21 Sep 2022 22:00:10 +0000 Shanghai has called off the city’s most important financial forum the day before it was scheduled to start after the city detected a new Covid-19 infection for the first time in a week. The Lujiazui Forum, which was scheduled for Wednesday and Thursday, is delayed, not cancelled, officials with the Shanghai Information Office told the Post. However, another government official said the annual event might not be held this year, citing outbreak concerns and the availability of several senior... https://www.scmp.com/business/china-business/article/3191542/shanghais-lujiazui-financial-forum-falls-victim-covid-19?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3191542/shanghais-lujiazui-financial-forum-falls-victim-covid-19?utm_source=rss_feed Tue, 06 Sep 2022 09:43:21 +0000 China kicked off its biggest artificial intelligence (AI) forum on Thursday, promoting potential applications of the technology in China’s huge market, although the gathering comes amid an intensifying US-China technology war. The World Artificial Intelligence Conference, held annually in Shanghai since 2018, attracts China’s leading tech firms such as e-commerce leader Alibaba Group Holding, gaming and social media giant Tencent Holdings, search engine Baidu.com, and telecoms national champion... https://www.scmp.com/tech/big-tech/article/3191026/chinas-biggest-ai-forum-kicks-shanghai-under-cloud-latest-us-export?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3191026/chinas-biggest-ai-forum-kicks-shanghai-under-cloud-latest-us-export?utm_source=rss_feed Thu, 01 Sep 2022 12:08:41 +0000 Half of China’s provinces are sticking to their commitments on regional economic growth targets for this year, even as Beijing has softened its tone on achieving the broader national target. Meanwhile, analysts are pointing out how difficult of a challenge this could be for local bureaucrats to achieve. As bolstering economic growth has moved higher on the political agenda in the lead-up to this autumn’s once-a-decade leadership reshuffle, China’s largest economies are doing everything they can... https://www.scmp.com/economy/china-economy/article/3188189/half-chinas-provinces-still-say-2022-economic-growth-goals?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3188189/half-chinas-provinces-still-say-2022-economic-growth-goals?utm_source=rss_feed Mon, 08 Aug 2022 23:00:22 +0000 Shanghai, walloped by a two-month Covid-19 lockdown, is pinning its hopes on infrastructure construction and fresh fixed-asset investment to get the local economy back on track following a woeful first-half performance. Mega projects ranging from metro lines, museums and theatres to data centres and research institutes are set to create a cascade of demand for industrial products that can help support the employment rate and help manufacturers sustain profitability, said company bosses. “We hope... https://www.scmp.com/business/companies/article/3186285/shanghai-bets-infrastructure-fixed-asset-investment-claw-back?utm_source=rss_feed https://www.scmp.com/business/companies/article/3186285/shanghai-bets-infrastructure-fixed-asset-investment-claw-back?utm_source=rss_feed Fri, 22 Jul 2022 12:00:18 +0000 Shanghai unveiled a comprehensive 50-point plan to repair its US$637 billion economy as the city prepares to exit from two months of lockdown after new Covid-19 cases fell to the lowest level since mid-March, government officials said. The plan covers eight major aspects, from helping enterprises reduce operating costs and incentives to prevent job losses to broader reopening measures, they said at a media briefing and on an official WeChat account on Sunday. The move is in line with Premier Li... https://www.scmp.com/business/china-business/article/3179595/shanghais-covid-cases-drop-new-low-city-edges-closer?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3179595/shanghais-covid-cases-drop-new-low-city-edges-closer?utm_source=rss_feed Sun, 29 May 2022 04:00:14 +0000 Shanghai authorities have pledged to boost the local economy based on instructions from Premier Li Keqiang this week, while doubling down on the “dynamic zero” Covid-19 policy as the city prepares to end its two-month lockdown on June 1. New daily infections fell 35.6 per cent to 170 cases on Friday, the seventh consecutive day of decline, according to data released on Saturday. Cases showing symptoms also dipped 13.3 per cent to 39, the fourth day that the number held below 50, while not a... https://www.scmp.com/business/china-business/article/3179530/daily-cases-drop-new-low-shanghai-city-government-vows?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3179530/daily-cases-drop-new-low-shanghai-city-government-vows?utm_source=rss_feed Sat, 28 May 2022 03:56:43 +0000 The Communist Party of China will undergo a major leadership shake-up at its party congress in the second half of 2022. In this series, the South China Morning Post looks at what the party’s next generation of leaders might look like. China-watchers are keeping a close watch on the rise of politicians born in the 1970s, as the Communist Party’s next generation of leaders is likely to come from this group. President Xi Jinping is widely expected to secure a third term as the party’s general... https://www.scmp.com/news/china/politics/article/3178687/chinas-children-seventies-come-fore-next-generation-leaders?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3178687/chinas-children-seventies-come-fore-next-generation-leaders?utm_source=rss_feed Sun, 22 May 2022 22:00:27 +0000 New Covid-19 cases in Shanghai fell for the fifth consecutive day, plunging to a 24-day low and prompting city officials to work on plans for restarting manufacturing, public transport, and retail in the mainland’s financial capital. Authorities detected 10,622 infections over the last 24 hours, 21.7 per cent fewer than a day earlier, according to data released on Thursday. Symptomatic cases fell 19.6 per cent to 1,292, also the fifth straight day of decline, while 47 patients died. Cumulative... https://www.scmp.com/business/china-business/article/3175770/coronavirus-shanghai-officials-eye-reopening-manufacturing?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3175770/coronavirus-shanghai-officials-eye-reopening-manufacturing?utm_source=rss_feed Thu, 28 Apr 2022 03:09:39 +0000 Shanghai recorded its lowest daily number of new Covid-19 cases in more than three weeks as the city government pledged to ease lockdown measures while supporting manufacturing businesses to ramp up resumption of production. The financial hub reported a 20 per cent drop in new cases over the last 24 hours, marking its fourth consecutive day of declines, official figures released on Wednesday showed. New case count of 13,562 is the lowest since April 5, and new cases have fallen on nine of the... https://www.scmp.com/business/china-business/article/3175631/coronavirus-shanghais-covid-19-cases-drop-fourth-day?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3175631/coronavirus-shanghais-covid-19-cases-drop-fourth-day?utm_source=rss_feed Wed, 27 Apr 2022 03:10:38 +0000 Shanghai reported on Saturday a sharp rebound in the daily numbers of new Covid-19 cases, ending a five-day declining streak and dashing hopes of an imminent end to the citywide lockdown that started on April 1. A total of 23,370 new infections were recorded in the previous 24 hours, up 32.6 per cent from a day earlier, according to government data, taking the city’s cumulative cases since March 1 to about 466,000. Symptomatic cases rose 41.7 per cent to 2,736, while 11 patients died, bringing... https://www.scmp.com/business/china-business/article/3175277/coronavirus-shanghais-new-cases-rebound-after-five-day?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3175277/coronavirus-shanghais-new-cases-rebound-after-five-day?utm_source=rss_feed Sat, 23 Apr 2022 06:00:15 +0000 Shanghai’s struggles to contain the current Covid-19 outbreak and get back to normal have not only greatly embarrassed the city’s leaders but have also cast a shadow over their prospects ahead of a major shake-up of the Chinese Communist Party leadership. The country’s financial capital has been in effective citywide lockdown for almost three weeks, causing serious disruption to its 25 million residents and the economy. The latest wave of infections in Shanghai – with 270,000 recorded since... https://www.scmp.com/news/china/politics/article/3174560/why-shanghais-covid-crisis-could-have-wider-political?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3174560/why-shanghais-covid-crisis-could-have-wider-political?utm_source=rss_feed Sun, 17 Apr 2022 14:00:22 +0000 Shanghai’s authorities ordered several districts in China’s commercial hub into partial lockdowns, as health officials sealed off neighbourhoods including the area around ByteDance’s head office to contain an outbreak of the Omicron variant of the Covid-19 pandemic. Dozens of neighbourhoods across Shanghai’s 16 administrative districts had been cordoned off, and residents ordered to undergo mandatory tests. Only Chongming island and Jinshan in the southwestern corner of the city of almost 25... https://www.scmp.com/business/article/3170011/bytedances-shanghai-tower-under-lockdown-city-seals-dozens-areas-hold?utm_source=rss_feed https://www.scmp.com/business/article/3170011/bytedances-shanghai-tower-under-lockdown-city-seals-dozens-areas-hold?utm_source=rss_feed Thu, 10 Mar 2022 12:50:45 +0000 Shanghai should prepare for Covid-19 outbreaks to become five to 10 times bigger, a health expert leading the Chinese megacity’s coronavirus battle has warned. Infectious diseases expert Zhang Wenhong said the high transmissibility of the Omicron variant and surge in global cases meant that Shanghai, as one of China’s major international gateways, should gear up for a rise in imported infections and stretched hospitals. This came as the city on Monday reported 22 imported cases and one local... https://www.scmp.com/news/china/science/article/3164551/covid-19-outbreaks-could-get-10-times-bigger-shanghai-disease?utm_source=rss_feed https://www.scmp.com/news/china/science/article/3164551/covid-19-outbreaks-could-get-10-times-bigger-shanghai-disease?utm_source=rss_feed Mon, 24 Jan 2022 10:40:10 +0000 Shanghai, home to Tesla’s largest production base, wants to expand manufacturing capacity for automotive chips to support the rapid growth of smart electric vehicles (EVs). The mayor of Shanghai, Gong Zheng, said after the annual session of the city’s legislature on Sunday that the local government is pinning hopes on the new-energy vehicle (NEV) sector to drive its economy, and that “allocating resources for increasing the capacity of automotive chips” would help that goal. “We hope the issue... https://www.scmp.com/business/china-business/article/3164446/shanghai-mayor-wants-more-chip-production-facilities?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3164446/shanghai-mayor-wants-more-chip-production-facilities?utm_source=rss_feed Mon, 24 Jan 2022 00:30:24 +0000 Shanghai, China’s financial capital, is seeking a greater role in artificial intelligence (AI) and virtual reality (VR) and is encouraging companies to step up research in these sectors. At a conference to set up the city’s economic agenda for next year, the government said it will guide firms to step up research on “important platforms for the interaction between the virtual world and real society”. Li Qiang, Shanghai’s Communist Party secretary, and Gong Zheng, its mayor, attended the meeting... https://www.scmp.com/business/china-business/article/3160734/shanghai-encourage-ai-vr-development-it-eyes-bigger-role?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3160734/shanghai-encourage-ai-vr-development-it-eyes-bigger-role?utm_source=rss_feed Wed, 22 Dec 2021 23:30:14 +0000 The annual Taipei-Shanghai Twin-City Forum kicked off with the Shanghai mayor offering assurances of a sound investment environment for Taiwanese investors amid recent warnings by Beijing authorities against businesses that backed separatist forces. Shanghai Mayor Gong Zheng noted that people from both sides of the Taiwan Strait shared the same roots and bond and were from one family, adding that his administration would continue to take care of the interests of Taiwanese in Shanghai. “We will... https://www.scmp.com/news/china/politics/article/3158066/shanghai-mayor-pledges-safe-investment-environment-taiwan-firms?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3158066/shanghai-mayor-pledges-safe-investment-environment-taiwan-firms?utm_source=rss_feed Wed, 01 Dec 2021 12:57:37 +0000 The collapse of Blackstone Group’s US$3.06 billion deal for Soho China, known for the Leeza Soho and other office buildings that give Beijing its futuristic skyline, comes at a fraught time for China’s real estate industry and could raise questions about how attractive the sector remains for foreign investment, particularly as China places greater scrutiny on foreign deals, according to market observers. Commercial rents dropped by 1.5 per cent in Beijing in the first half of the year and are... https://www.scmp.com/business/banking-finance/article/3148722/will-collapse-blackstones-soho-china-deal-foreshadow?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3148722/will-collapse-blackstones-soho-china-deal-foreshadow?utm_source=rss_feed Tue, 14 Sep 2021 11:30:20 +0000 Pony Ma Huateng, the founder and CEO of Tencent Holdings, China’s most valuable internet conglomerate, said technology can be used for good in an appearance at an artificial intelligence conference (AI) in Shanghai on Thursday, avoiding any mention of Beijing’s recent crackdown on Big Tech. In a speech delivered remotely by audio, delegates at the World Artificial Intelligence Conference in Shanghai on Thursday heard Ma talk about the collaboration between his company and the National... https://www.scmp.com/tech/policy/article/3140321/tencent-boss-pony-ma-promotes-tech-good-shanghai-ai-conference-china?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3140321/tencent-boss-pony-ma-promotes-tech-good-shanghai-ai-conference-china?utm_source=rss_feed Thu, 08 Jul 2021 07:59:13 +0000 Shanghai’s authorities have unveiled a grand plan to develop new townships out of five suburban districts to relieve the population density in the sprawling megapolis of almost 25 million people. Five new towns will be developed in the Qingpu, Fengxian, Jiading, Nanhui and Songjiang districts, where Shanghai mayor Gong Zheng had promised to build major industrial projects with high-quality public infrastructure and comprehensive transport hubs. The grand plan is already attracting early... https://www.scmp.com/business/china-business/article/3129329/shanghai-looks-five-suburbs-reduce-population-density?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3129329/shanghai-looks-five-suburbs-reduce-population-density?utm_source=rss_feed Wed, 14 Apr 2021 01:45:12 +0000 Shanghai, the mainland’s commercial and financial capital, riding high on the success of Tesla’s Gigafactory 3, is on the lookout for more foreign direct investment (FDI) projects to achieve ambitious growth and employment targets the city has set this year. Mayor Gong Zheng told a press conference on Wednesday that Shanghai remained the top choice for global investors looking to secure a foothold in the mainland, and FDI projects would continue to be a major growth driver for the country’s... https://www.scmp.com/business/companies/article/3119517/shanghai-banks-big-ticket-foreign-direct-investments-achieve?utm_source=rss_feed https://www.scmp.com/business/companies/article/3119517/shanghai-banks-big-ticket-foreign-direct-investments-achieve?utm_source=rss_feed Thu, 28 Jan 2021 00:30:16 +0000 Masha Borak,Coco Feng Masha Borak,Coco Feng Beijing, Shanghai and Guangdong, China’s wealthiest province, all made new commitments over the weekend to testing the digital yuan, as the country moves closer to becoming the first in the world to launch a central bank digital currency (CBDC). Beijing Mayor Chen Jining and Shanghai Mayor Gong Zheng both pledged in work reports that their cities would offer new pilot programmes this year for the Digital Currency Electronic Payment (DCEP), as the digital yuan is officially known. Neither of the... https://www.scmp.com/tech/policy/article/3119120/chinas-digital-currency-beijing-shanghai-and-guangdong-commit-new?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3119120/chinas-digital-currency-beijing-shanghai-and-guangdong-commit-new?utm_source=rss_feed Mon, 25 Jan 2021 14:00:14 +0000 Shanghai on Tuesday appointed Gong Zheng as the city’s new mayor, who faces the challenge of reviving the city’s coronavirus-hit economy. The 60-year-old from Jiangsu was confirmed by the city’s legislature after a four-month delay following his transfer from the eastern province of Shandong, where he was governor. In a speech, he told the legislature that it was important to turn the crisis into opportunity, an apparent reference to the economic slowdown brought by the Covid-19 pandemic. Gong... https://www.scmp.com/news/china/politics/article/3094137/shanghai-appoints-new-mayor-who-talks-turning-crisis?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3094137/shanghai-appoints-new-mayor-who-talks-turning-crisis?utm_source=rss_feed Tue, 21 Jul 2020 23:00:15 +0000