https://www.scmp.com/rss/519216/feed Xinyi joined the Post in 2024, starting out in Hong Kong. She previously reported on business news in Singapore and taught writing at a university in Shanghai. She graduated with a degree in anthropology from Yale-NUS College. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Xinyi Wu Xinyi Wu China is upgrading the BeiDou satellite navigation system – its home-grown alternative to the US-run Global Positioning System – as Beijing seeks to expand the network’s industrial footprint and international reach. The project will focus on replacing older satellites with newer, third-generation models and realigning their orbital paths to allow more comprehensive global coverage, according to a document released by the China Satellite Navigation Office in late March. BeiDou has already... https://www.scmp.com/economy/article/3348900/chinas-gps-rival-beidou-getting-upgrade-beijing-eyes-global-adoption?utm_source=rss_feed https://www.scmp.com/economy/article/3348900/chinas-gps-rival-beidou-getting-upgrade-beijing-eyes-global-adoption?utm_source=rss_feed Sat, 04 Apr 2026 08:00:10 +0000 Xinyi Wu Xinyi Wu Chinese airlines are mulling the introduction of higher fuel surcharges, as authorities strive to balance the impact of surging oil prices with the need to preserve airline margins and at the same time avoid dampening consumer demand. Although a formal announcement from the national regulator is pending, at least two domestic airlines released notices on Wednesday about plans for sixfold surcharge increases, after another airline rescinded a similar notice on Tuesday. According to notices put... https://www.scmp.com/economy/china-economy/article/3348653/eyes-chinese-airline-regulator-it-seeks-difficult-balance-fuel-surcharge-rises?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3348653/eyes-chinese-airline-regulator-it-seeks-difficult-balance-fuel-surcharge-rises?utm_source=rss_feed Wed, 01 Apr 2026 22:00:19 +0000 Xinyi Wu Xinyi Wu China has sufficient leeway to cope with imported inflationary shocks from Middle East instability, a monetary-policy adviser to the People’s Bank of China said, but the country must balance those pressures with economic-growth risks. Huang Yiping, a member of the PBOC’s Monetary Policy Committee, said that China was already experiencing upwards pressure on prices. But China’s consumer price index (CPI), a key gauge of inflation, has remained below its official target of 2 per cent in recent... https://www.scmp.com/economy/china-economy/article/3348567/china-has-room-imported-inflation-economic-risks-rising-pboc-adviser?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3348567/china-has-room-imported-inflation-economic-risks-rising-pboc-adviser?utm_source=rss_feed Tue, 31 Mar 2026 13:00:08 +0000 Xinyi Wu Xinyi Wu China’s pig prices have plunged to their lowest level in nearly eight years, as the country struggles to deal with a persistent supply glut triggered by the spread of huge industrial farms and a post-holiday drop in meat consumption. Live pigs were selling for 11.05 yuan (US$1.60) per kilogram on average during the third week of March, down 2.9 per cent from the previous week and 28 per cent from a year earlier, data from China’s Ministry of Agriculture and Rural Affairs showed. Prices are now... https://www.scmp.com/economy/china-economy/article/3348423/chinas-massive-pig-farms-spark-supply-glut-hog-prices-hit-8-year-low?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3348423/chinas-massive-pig-farms-spark-supply-glut-hog-prices-hit-8-year-low?utm_source=rss_feed Mon, 30 Mar 2026 11:30:08 +0000 Mia Nurmamat,Xinyi Wu Mia Nurmamat,Xinyi Wu Germany’s chemical giant BASF has launched operations at its China production base – its largest overseas investment to date – with a total outlay of €8.7 billion (US$10 billion), and the country’s first wholly foreign-owned large-scale Verbund site. The company on Thursday inaugurated the world-scale complex in Zhanjiang, Guangdong province, designed to run entirely on renewable electricity. A Verbund site is an integrated chemical complex where plants, energy use and materials are... https://www.scmp.com/business/article/3348021/basf-launches-biggest-overseas-project-china-green-powered-mega-site?utm_source=rss_feed https://www.scmp.com/business/article/3348021/basf-launches-biggest-overseas-project-china-green-powered-mega-site?utm_source=rss_feed Thu, 26 Mar 2026 14:00:12 +0000 Xinyi Wu,Ji Siqi Xinyi Wu,Ji Siqi China is still on course to overtake the United States as the world’s largest economy in the next decade, as the global balance of power pivots towards Asia and America pursues a string of “self-defeating” policies, a prominent academic has said. While the Chinese economy is undergoing a structural transition, the current challenges facing the US are more severe, according to Li Cheng, the founding director of the University of Hong Kong’s Centre on Contemporary China and the World. The US is... https://www.scmp.com/economy/china-economy/article/3347863/china-still-track-supplant-us-worlds-no-1-economy-10-years-academic?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347863/china-still-track-supplant-us-worlds-no-1-economy-10-years-academic?utm_source=rss_feed Wed, 25 Mar 2026 14:00:10 +0000 Xinyi Wu Xinyi Wu China has accused Mexico of imposing trade and investment barriers through tariff hikes on its goods, a sign the friction between the two trading partners – fuelled by escalating pressure from Washington under US President Donald Trump – is continuing to build. The Ministry of Commerce announced on Wednesday that the Mexican government’s measures to raise tariffs on imports from countries not party to its free trade agreements constitute a breach of trade rules. The move primarily affects... https://www.scmp.com/economy/global-economy/article/3347881/china-says-mexicos-tariff-hikes-constitute-trade-barriers-after-probe?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3347881/china-says-mexicos-tariff-hikes-constitute-trade-barriers-after-probe?utm_source=rss_feed Wed, 25 Mar 2026 13:00:08 +0000 Xinyi Wu Xinyi Wu China has announced major discoveries of various critical minerals, including rare earths and fluorite, bolstering its reserves of the resources essential for the hi-tech, new energy and defence industries. At the Maoniuping mine in Sichuan province’s Mianning county, authorities announced the discovery of 9.7 million tonnes of rare earth oxides, bringing the site’s total proven reserves to 10.4 million tonnes, state news agency Xinhua reported on Friday. Surveys also revealed 27.1 million... https://www.scmp.com/news/china/article/3347436/china-reports-stunning-critical-minerals-finds-hi-tech-race-us-heats?utm_source=rss_feed https://www.scmp.com/news/china/article/3347436/china-reports-stunning-critical-minerals-finds-hi-tech-race-us-heats?utm_source=rss_feed Sat, 21 Mar 2026 15:00:08 +0000 Xinyi Wu Xinyi Wu China called for a halt to the “unjust war” in Iran in a phone call between top diplomats on Friday and expressed willingness to work with France to prevent other nations from being drawn into the conflict. Chinese Foreign Minister Wang Yi told Emmanuel Bonne, diplomatic adviser to the French president, that as members of the UN Security Council, the two countries should work together to firmly uphold international law and prevent the world from reverting to the “law of the jungle”. “The urgent... https://www.scmp.com/news/china/diplomacy/article/3347418/china-decries-unjust-war-iran-it-calls-immediate-ceasefire?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3347418/china-decries-unjust-war-iran-it-calls-immediate-ceasefire?utm_source=rss_feed Sat, 21 Mar 2026 11:00:18 +0000 Xinyi Wu Xinyi Wu China is set to include 12 more commercial banks under the umbrella of its central bank-backed digital currency, the latest move by Beijing to scale up adoption of the digital yuan, also known as the e-CNY, as it transitions from a cash alternative to an interest-bearing deposit instrument. The expansion comes after Beijing pledged to “steadily develop the digital yuan” in its latest five-year plan, the country’s blueprint document for socio-economic development. A draft Finance Law published on... https://www.scmp.com/economy/china-economy/article/3347351/china-adds-12-banks-digital-yuan-system-expanding-e-cnys-economic-presence?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347351/china-adds-12-banks-digital-yuan-system-expanding-e-cnys-economic-presence?utm_source=rss_feed Fri, 20 Mar 2026 15:00:14 +0000 Xinyi Wu Xinyi Wu China’s imports of discounted Russian crude oil surged in January and February, though analysts suggest volumes could moderate in the coming months as the war in Iran increases global competition for Russian oil. In the first two months of the year, Russia’s shipments of crude to China rose 40.9 per cent year on year to 21.8 million tonnes, according to Chinese customs data released on Friday. But the total import value rose just 5.8 per cent in US dollar terms. “China has been an opportunistic... https://www.scmp.com/economy/china-economy/article/3347329/chinas-russian-oil-imports-spike-early-2026-iran-war-changes-outlook?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347329/chinas-russian-oil-imports-spike-early-2026-iran-war-changes-outlook?utm_source=rss_feed Fri, 20 Mar 2026 13:00:10 +0000 Xinyi Wu Xinyi Wu China’s urban youth unemployment rate fell in February for the sixth consecutive month, though the marginal improvement provides little reprieve for jobseekers in a challenging post-holiday labour market. The jobless rate for the 16-to-24 age group, excluding students, edged down to 16.1 per cent in February from 16.3 per cent in January, according to data released by the National Bureau of Statistics on Thursday. The figure has been gradually declining since August, when a record 12.2 million... https://www.scmp.com/economy/china-economy/article/3346838/chinas-youth-unemployment-falls-sixth-consecutive-month-february?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3346838/chinas-youth-unemployment-falls-sixth-consecutive-month-february?utm_source=rss_feed Thu, 19 Mar 2026 07:57:31 +0000 Xinyi Wu Xinyi Wu China’s recent changes to the rules governing its global payment system could pave the way for turning it into a genuine alternative to Western networks, according to a new report. Beijing now appears to be moving towards building the Cross-border Interbank Payment System (CIPS) into a global platform compliant with multicurrency settlements and other foreign payment channels, said the study led by Ju Jiandong, a chair professor at Tsinghua University’s PBC School of Finance. Beijing recently... https://www.scmp.com/economy/china-economy/article/3347053/how-china-opened-door-creating-direct-rival-us-payment-systems?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347053/how-china-opened-door-creating-direct-rival-us-payment-systems?utm_source=rss_feed Thu, 19 Mar 2026 02:00:07 +0000 Xinyi Wu,Wency Chen,Coco Feng Xinyi Wu,Wency Chen,Coco Feng The cloud-computing units of Alibaba Group Holding and Baidu are raising prices for certain services by as much as 34 per cent, following similar moves by their American peers earlier this year as artificial intelligence demand and infrastructure costs rise. Starting April 18, Alibaba Cloud’s services running on its AI chips – such as the T-Head Zhengwu 810E unveiled in late January – would cost between 5 and 34 per cent more, the company said in a statement on Wednesday. The price of its Cloud... https://www.scmp.com/tech/article/3347030/alibaba-and-baidu-lift-cloud-prices-34-amid-ai-demand-surge?utm_source=rss_feed https://www.scmp.com/tech/article/3347030/alibaba-and-baidu-lift-cloud-prices-34-amid-ai-demand-surge?utm_source=rss_feed Wed, 18 Mar 2026 10:30:08 +0000 Xinyi Wu,Ji Siqi Xinyi Wu,Ji Siqi Beijing is launching a pilot programme to expand industrial use of hydrogen energy, at a time when war in the Middle East is exposing the risks of global reliance on fossil fuels. Iran’s effective blockade of the Strait of Hormuz amid its war with the United States and Israel – now in its third week – has disrupted oil and gas supplies, prompting some nations to re-examine their energy mix, with renewables emerging as a potential hedge against volatility. In a Monday notice, the Ministry of... https://www.scmp.com/economy/china-economy/article/3346850/china-targets-hydrogen-push-strait-hormuz-crisis-jolts-energy-markets?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3346850/china-targets-hydrogen-push-strait-hormuz-crisis-jolts-energy-markets?utm_source=rss_feed Tue, 17 Mar 2026 06:03:05 +0000 Carol Yang,Xinyi Wu Carol Yang,Xinyi Wu China’s economy got off to a strong start in 2026, as several indicators registered expectation-beating expansions in the first two months – though analysts cautioned the imminent energy crisis caused by the US-Israel war in Iran would present challenges for Beijing and the world at large in the months to come. Resilience in industrial output and retail sales, as well as a small expansion in fixed-asset investment, will provide a vital boost to Beijing as it strives to achieve an economic growth... https://www.scmp.com/economy/economic-indicators/article/3346697/chinas-economy-starts-2026-strongly-retail-sales-investment-rise?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3346697/chinas-economy-starts-2026-strongly-retail-sales-investment-rise?utm_source=rss_feed Mon, 16 Mar 2026 02:00:10 +0000 Xinyi Wu,Carol Yang Xinyi Wu,Carol Yang Ships near the Strait of Hormuz are broadcasting Chinese affiliations in an apparent bid to avoid attack, at a time when Iran’s new supreme leader vows to keep the strategic waterway closed. The crews of at least 11 vessels sitting in the Gulf of Oman and the Persian Gulf had their transponders set to announce Chinese links on Friday afternoon, according to Kpler’s MarineTraffic data platform. The broadcasts were a defensive measure, said Cui Shoujun, director of the Institute of International... https://www.scmp.com/economy/global-economy/article/3346542/strait-hormuz-transiting-ships-flash-china-owner-signals-evade-iran-blockade?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3346542/strait-hormuz-transiting-ships-flash-china-owner-signals-evade-iran-blockade?utm_source=rss_feed Fri, 13 Mar 2026 12:45:56 +0000 Xinyi Wu Xinyi Wu Some Chinese lawmakers and advisers are pushing to secure higher pensions for elderly farmers, underscoring the persistent income disparity between the country’s urban and rural residents. The latest government work report, approved on Thursday, confirmed a 20-yuan (US$2.91) monthly increase to basic pension payments for a third consecutive year, bringing the national minimum to 163 yuan. However, some deputies from China’s top legislature contend that this level is inadequate. “A pension of... https://www.scmp.com/economy/china-economy/article/3346368/chinas-rural-pensions-focus-lawmakers-fight-farmers-fair-share-amid-income-gap?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3346368/chinas-rural-pensions-focus-lawmakers-fight-farmers-fair-share-amid-income-gap?utm_source=rss_feed Fri, 13 Mar 2026 00:00:11 +0000 Xinyi Wu Xinyi Wu Chinese firms should prioritise regional political stability when they make overseas investment decisions, as mounting geopolitical tensions and currency fluctuations increase the risks of doing business abroad, a prominent Chinese entrepreneur has warned. “The current unrest in the Middle East, fluctuations of the US dollar and international complexities serve as a reminder for firms expanding abroad: we must go to locations that offer relative stability,” said Liu Yonghao, founder and chairman... https://www.scmp.com/economy/china-economy/article/3346370/chinese-firms-should-focus-investing-politically-stable-regions-entrepreneur?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3346370/chinese-firms-should-focus-investing-politically-stable-regions-entrepreneur?utm_source=rss_feed Thu, 12 Mar 2026 14:00:08 +0000 Xinyi Wu Xinyi Wu China’s surge in crude imports early this year has strengthened its stockpiles against a backdrop of rising Middle East tensions and global supply risks. China imported 96.93 million tonnes of crude in January and February, up 15.8 per cent from the same period in 2025, according to customs data released on Tuesday. The value of those imports, meanwhile, fell 5.2 per cent from last year in US dollar terms. “China was accumulating oil and gas stockpiles [earlier this year], with the market... https://www.scmp.com/economy/global-economy/article/3346121/bolstering-oil-stockpile-chinas-import-surge-seen-creating-120-day-shock-shield?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3346121/bolstering-oil-stockpile-chinas-import-surge-seen-creating-120-day-shock-shield?utm_source=rss_feed Tue, 10 Mar 2026 11:00:14 +0000 Xinyi Wu,Ji Siqi Xinyi Wu,Ji Siqi China’s new five-year plan targets both industrial innovation and “people-oriented” livelihoods for all, according to officials with the country’s top economic planner. “The draft outline of the plan … focuses on consolidating and expanding strengths, removing bottlenecks and constraints, and addressing weaknesses and shortcomings,” Zheng Bei, deputy director of the National Development and Reform Commission (NDRC), said in Beijing on the sidelines of the “two sessions” on Saturday. The draft of... https://www.scmp.com/economy/china-economy/article/3345822/innovation-plus-livelihoods-twin-tracks-chinas-5-year-plan?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345822/innovation-plus-livelihoods-twin-tracks-chinas-5-year-plan?utm_source=rss_feed Sat, 07 Mar 2026 12:30:13 +0000 Xinyi Wu Xinyi Wu Beijing has stressed that it does not intend to rely on a weaker yuan for trade gains, amid a recent rally in the currency and mounting pressure from trade partners to allow it to strengthen. “China has neither the need nor the intention to gain competitive advantages in trade through currency depreciation,” said Pan Gongsheng, governor of the central bank, at a press conference of the country’s top economic officials on Friday. The comments came ahead of a new round of trade talks between China... https://www.scmp.com/economy/china-economy/article/3345755/china-fires-back-currency-depreciation-claims-denies-using-weak-yuan-boost-exports?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345755/china-fires-back-currency-depreciation-claims-denies-using-weak-yuan-boost-exports?utm_source=rss_feed Fri, 06 Mar 2026 12:00:09 +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 Xinyi Wu Xinyi Wu Rising energy costs driven by Middle Eastern geopolitical tensions may provide some relief to China’s years-long struggle with weak prices, but analysts warn that a spike in oil prices could spark a scenario in which stagnant economic growth collides with rising inflation, hindering the nation’s economic recovery. “Rising oil prices [could] lead to stagflation, which helps increase the inflation rate but also leads to a decline in economic growth and an increase in unemployment,” said Su Jian,... https://www.scmp.com/economy/global-economy/article/3345420/mideast-oil-crisis-revives-stagflation-spectre-haunting-chinas-deflation-battle?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3345420/mideast-oil-crisis-revives-stagflation-spectre-haunting-chinas-deflation-battle?utm_source=rss_feed Wed, 04 Mar 2026 10:00:40 +0000 Xinyi Wu Xinyi Wu China’s sovereign debt is emerging as a strategic alternative to US Treasuries as global investors look for geopolitical hedges, though greater market liquidity and deeper yuan internationalisation are still needed to cement its status as a global safe haven, an economist at a Chinese government think tank has said. “[These bonds] circumvent the restrictions of the non-convertibility of the renminbi,” said Xu Qiyuan, deputy director of the American Studies Institute at the Chinese Academy of... https://www.scmp.com/economy/china-economy/article/3345378/chinas-sovereign-debt-becoming-strategic-alternative-us-treasuries-economist?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345378/chinas-sovereign-debt-becoming-strategic-alternative-us-treasuries-economist?utm_source=rss_feed Wed, 04 Mar 2026 08:00:09 +0000 Xinyi Wu Xinyi Wu From Venezuela to Iran, a wave of military interventions by the United States threatens to disrupt China’s oil supplies – and could accelerate Beijing’s transition away from fossil fuels, according to analysts. “Geopolitical tensions often serve as a reminder that heavy dependence on imported fossil fuels represents a structural vulnerability,” said Shen Xinyi, a researcher at the Centre for Research on Energy and Clean Air. The current turmoil could reinforce Beijing’s growing emphasis on... https://www.scmp.com/economy/global-economy/article/3345297/us-iran-war-threatens-global-energy-markets-will-china-speed-its-green-transition?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3345297/us-iran-war-threatens-global-energy-markets-will-china-speed-its-green-transition?utm_source=rss_feed Tue, 03 Mar 2026 12:00:11 +0000 Xinyi Wu Xinyi Wu China’s rapid push into artificial intelligence and its simultaneous energy transition are central to overtaking the United States in technological supremacy, according to a former finance vice-minister. Competition in the field of AI has shifted from purely a technological sprint to a broader contest over application scenarios and regulatory frameworks, led by the world’s two largest economies, Zhu Guangyao explained. “China’s leading position in energy transition has laid a solid foundation... https://www.scmp.com/economy/global-economy/article/3345106/chinas-ai-power-play-beijing-banks-clean-energy-boom-triumph-over-us?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3345106/chinas-ai-power-play-beijing-banks-clean-energy-boom-triumph-over-us?utm_source=rss_feed Mon, 02 Mar 2026 07:00:03 +0000 Xinyi Wu Xinyi Wu Ahead of China’s annual legislative meetings – typically a window into Beijing’s top-level policy agenda – this is the fourth entry in a series examining the complex economic recalibration driving China’s growth philosophy and its wide-ranging implications for local governments, financial investors and private enterprises. China’s private businesses, many still facing cash flow problems amid a prolonged property slump, want treasury bonds and legal obligations on state-owned enterprises and... https://www.scmp.com/economy/china-economy/article/3344906/whats-wish-list-chinas-private-sector-ahead-two-sessions?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3344906/whats-wish-list-chinas-private-sector-ahead-two-sessions?utm_source=rss_feed Mon, 02 Mar 2026 03:00:10 +0000 Ji Siqi,Coco Feng,Xinyi Wu Ji Siqi,Coco Feng,Xinyi Wu On a day typically considered one of the happiest on the calendar for Chinese workers – the eve of Chinese New Year, when families gather for dinner in the midst of an extended public holiday – the annual Spring Festival Gala, the world’s most-watched television programme, left some in the viewing audience with a sense of profound disillusionment. As a troupe of humanoid robots break-danced, flipped, swung swords and performed comedy sketches at the gala, domestic AI brands occupied the show’s... https://www.scmp.com/economy/china-economy/article/3344920/iron-rice-bowl-vs-algorithm-why-chinas-economy-may-better-withstand-ai-shock?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3344920/iron-rice-bowl-vs-algorithm-why-chinas-economy-may-better-withstand-ai-shock?utm_source=rss_feed Sat, 28 Feb 2026 22:00:19 +0000 Xinyi Wu Xinyi Wu China has vowed to refine its energy strategy and ramp up major engineering projects over the next five years, placing energy security at the heart of its new development blueprint. The National Energy Administration announced on Monday that it would introduce a new development framework this year, together with a series of sector-specific plans, as Beijing enters its latest five-year plan period. “The internal and external environment for building China’s new energy system is undergoing... https://www.scmp.com/economy/china-economy/article/3344485/chinas-new-energy-strategy-aims-shield-economy-shocks-and-meet-climate-targets?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3344485/chinas-new-energy-strategy-aims-shield-economy-shocks-and-meet-climate-targets?utm_source=rss_feed Tue, 24 Feb 2026 14:00:08 +0000 Xinyi Wu Xinyi Wu China is reviewing its trade countermeasures against the United States as Washington’s new global tariffs take effect, following a Supreme Court ruling that struck down the Trump administration’s sweeping levies imposed last year. The Ministry of Commerce on Tuesday also confirmed that Beijing would soon hold a new round of high-level trade talks with Washington, expected to pave the way for US President Donald Trump’s state visit to the country in late March. “China has consistently opposed... https://www.scmp.com/economy/china-economy/article/3344491/china-weighs-response-trump-imposes-new-global-tariff-after-court-ruling?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3344491/china-weighs-response-trump-imposes-new-global-tariff-after-court-ruling?utm_source=rss_feed Tue, 24 Feb 2026 13:00:11 +0000 Xinyi Wu Xinyi Wu When the results of China’s gruelling National Higher Education Entrance Examination – or gaokao – were released last summer, Lin Gangming was surprised to learn that he had scored high enough to attend some of the country’s top universities. But instead of chasing prestige, the student from Yangjiang, a small coastal city in Guangdong province, chose a different path: Shenzhen Polytechnic University – a public undergraduate vocational college in the province. Stories like Lin’s, covered by the... https://www.scmp.com/economy/china-economy/article/3344145/chinas-vocational-degrees-rising-students-seek-skills-over-prestigious-universities?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3344145/chinas-vocational-degrees-rising-students-seek-skills-over-prestigious-universities?utm_source=rss_feed Sun, 22 Feb 2026 02:00:09 +0000 Xinyi Wu Xinyi Wu China has defended the World Trade Organization’s non-discrimination principle after the United States and the European Union recently proposed reforms that could weaken it – though analysts say the rule would likely remain despite deepening divisions within the global trading system. Beijing called for “most-favoured nation treatment” to remain the “bedrock” of the WTO, in a new position paper on reforming the international body. The rule mandates that any trade advantage granted to one country... https://www.scmp.com/economy/global-economy/article/3344156/china-defends-wtos-most-favoured-nation-principle-after-us-eu-challenge-rule?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3344156/china-defends-wtos-most-favoured-nation-principle-after-us-eu-challenge-rule?utm_source=rss_feed Fri, 20 Feb 2026 13:00:09 +0000 Xinyi Wu Xinyi Wu In the latest sign of China’s push to channel private capital into infrastructure, several local governments have begun actively seeking private investors for two major ultra-high-voltage power line projects – the first schemes of their kind to open up to non-state funding since a Beijing directive encouraging the practice last November. China is building a series of vast power lines to funnel clean energy from its resource-rich but sparsely populated western regions to power-hungry industrial... https://www.scmp.com/economy/china-economy/article/3343495/chinese-power-line-projects-seek-private-capital-sign-infrastructure-shift?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3343495/chinese-power-line-projects-seek-private-capital-sign-infrastructure-shift?utm_source=rss_feed Fri, 13 Feb 2026 13:00:11 +0000 Xinyi Wu Xinyi Wu China’s consumer prices rose for the fourth consecutive month in January – although at a slower pace – while the decline in factory-gate prices continued to narrow, in a tentative sign that deflationary pressures in the Chinese economy may be starting to let up. But analysts said a clearer picture of the outlook for inflation would only emerge in the coming months due to distortions caused by the Lunar New Year holiday, which typically brings a surge in demand that drives up prices. The national... https://www.scmp.com/economy/economic-indicators/article/3343143/chinas-consumer-price-growth-cools-inflation-outlook-remains-unclear?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3343143/chinas-consumer-price-growth-cools-inflation-outlook-remains-unclear?utm_source=rss_feed Wed, 11 Feb 2026 03:54:09 +0000 Xinyi Wu Xinyi Wu As dwindling domestic profits push more Chinese firms onto the global stage, industry titans – forerunners who know what such a shift entails – are offering crucial advice for navigating challenges abroad. “The most important thing is to become a local company,” said Zhu Lei, chief marketing officer for air conditioner giant Gree Electric Appliances, which was among the first Chinese companies to enter the Latin American market. The advice comes as Chinese firms are expected to ramp up their... https://www.scmp.com/economy/global-economy/article/3341852/new-rules-expansion-chinese-firms-urged-go-local-they-chase-sales-abroad?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3341852/new-rules-expansion-chinese-firms-urged-go-local-they-chase-sales-abroad?utm_source=rss_feed Sun, 01 Feb 2026 13:00:12 +0000 Xinyi Wu Xinyi Wu Chinese authorities have signalled a new wave of measures to bolster domestic demand and hi-tech industries in the coming year, as Beijing seeks to rebalance growth and shore up momentum during its next five-year plan. On Tuesday, China’s top economic planner announced initiatives to boost consumption and technology investments, while the finance ministry unveiled programmes offering financial support to individuals and small businesses, following mixed economic data for 2025 released the day... https://www.scmp.com/economy/china-economy/article/3340573/china-targets-hi-tech-industries-domestic-demand-2026-new-policy-package?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3340573/china-targets-hi-tech-industries-domestic-demand-2026-new-policy-package?utm_source=rss_feed Tue, 20 Jan 2026 11:00:42 +0000 Xinyi Wu Xinyi Wu As China struggles to boost consumer spending, a professor at one of the country’s top universities has argued that authorities first need to overcome a psychological barrier: a deep-seated “luxury-phobia” that has taken hold among the Chinese public. The suggestion by Su Jian, a professor at Peking University, comes amid a debate in Chinese policy circles about how to revive the country’s sluggish demand, with retail sales slowing despite government efforts to rebalance the economy towards a... https://www.scmp.com/economy/china-economy/article/3340525/chinas-consumers-refuse-open-their-wallets-luxury-phobia-problem?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3340525/chinas-consumers-refuse-open-their-wallets-luxury-phobia-problem?utm_source=rss_feed Tue, 20 Jan 2026 07:00:33 +0000 Vincent Chow,Xinyi Wu Vincent Chow,Xinyi Wu The CEO of Chinese artificial intelligence company MiniMax met Premier Li Qiang on Monday, becoming the second representative from a foundational AI model developer to meet with the national leader after Liang Wenfeng, founder of DeepSeek, a year ago. The appearance of 36-year-old Yan Junjie along with eight other leading figures from China’s business, culture and education spheres underscored the rapid ascent of the newly minted billionaire, who steered his company founded just four years ago... https://www.scmp.com/tech/policy/article/3340515/china-signals-global-ai-push-minimax-ceo-joins-meeting-premier-li-qiang?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3340515/china-signals-global-ai-push-minimax-ceo-joins-meeting-premier-li-qiang?utm_source=rss_feed Tue, 20 Jan 2026 06:17:18 +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 Xinyi Wu Xinyi Wu China trimmed its holdings of US Treasuries in November to the lowest level since 2008, diverging from a global trend that saw total foreign ownership of the debt instruments hit a record high. Analysts say the prospect of a politicised Federal Reserve chairmanship under Donald Trump’s presidency has deepened Beijing’s concerns over its exposure to American debt, with more cuts expected. Beijing’s stockpile fell to US$682.6 billion in November, down from US$688.7 billion in October, according to... https://www.scmp.com/economy/global-economy/article/3340164/china-dumps-more-us-debt-buys-other-assets-trump-targets-powell?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3340164/china-dumps-more-us-debt-buys-other-assets-trump-targets-powell?utm_source=rss_feed Fri, 16 Jan 2026 13:00:09 +0000 Xinyi Wu Xinyi Wu China’s exports soared to record highs in 2025, defying trade tensions with Washington as Beijing’s diversification strategy successfully mitigated a decline in US-bound shipments. However, that resilience could face a new test this year, analysts warned. Full-year exports for 2025 climbed 5.5 per cent from a year earlier to US$3.77 trillion, according to customs data released on Wednesday, higher than the 5 per cent growth projected by financial data provider Wind. Imports for the same period... https://www.scmp.com/economy/economic-indicators/article/3339811/china-records-us119-trillion-trade-surplus-2025-exports-jump-55?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3339811/china-records-us119-trillion-trade-surplus-2025-exports-jump-55?utm_source=rss_feed Wed, 14 Jan 2026 03:18:18 +0000 Kandy Wong,Ralph Jennings,Xinyi Wu Kandy Wong,Ralph Jennings,Xinyi Wu Washington’s secondary sanctions on countries trading with Iran are likely to push up China’s oil import costs in the short term and send a dire warning to Beijing’s policymakers, who analysts said need to urgently find ways to protect the country’s strategic interests abroad. The shock waves arrived on Monday, when US President Donald Trump said a 25 per cent tariff would be imposed immediately on all goods and services imported from any country that “does business” with Iran, linking the... https://www.scmp.com/economy/china-economy/article/3339731/will-trumps-iran-tariffs-force-china-reshape-its-trade-tehran?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3339731/will-trumps-iran-tariffs-force-china-reshape-its-trade-tehran?utm_source=rss_feed Tue, 13 Jan 2026 11:00:11 +0000 Xinyi Wu Xinyi Wu China has made strengthening export control rules and safeguarding supply-chain resilience top priorities this year, as officials move to secure the nation’s economic interests amid rising geopolitical friction. The Ministry of Commerce said it would enhance legal frameworks and risk prevention and tighten the “safety net for opening up” as one of eight core work areas, according to a statement released on Sunday after its annual work conference in Beijing. China has increasingly used export... https://www.scmp.com/economy/china-economy/article/3339612/china-prioritises-export-controls-supply-chain-security-shield-economy-2026?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3339612/china-prioritises-export-controls-supply-chain-security-shield-economy-2026?utm_source=rss_feed Mon, 12 Jan 2026 11:30:10 +0000 Xinyi Wu Xinyi Wu Foreign direct investment (FDI) has been a crucial pillar of China’s economy since it opened up, drawing in trillions and helping fuel its rise as the “world’s factory”. But outbound direct investment (ODI) has expanded rapidly over the past two decades, transforming the country into a major exporter of capital. Today, China’s outbound investments exceed inflows, and the country has consistently ranked among the top three global investors in recent years. In this explainer, the Post examines the... https://www.scmp.com/economy/global-economy/article/3339333/how-chinas-global-investment-model-changing-and-what-it-means-yuan?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3339333/how-chinas-global-investment-model-changing-and-what-it-means-yuan?utm_source=rss_feed Sat, 10 Jan 2026 06:00:19 +0000 Xinyi Wu Xinyi Wu The US takeover of Venezuela has placed billions of dollars in Chinese oil-for-loan debts at risk, analysts say, though they expect Venezuelan crude to continue flowing to China as the new government seeks immediate revenue. The abduction of former Venezuelan leader Nicolas Maduro by US forces has left Beijing’s outstanding exposure in the South American nation – estimated at about US$10 billion, according to the research lab AidData – in a state of limbo. An optimistic scenario would involve a... https://www.scmp.com/economy/china-economy/article/3339138/chinas-massive-oil-loan-debts-risk-post-maduro-venezuela-analysts?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3339138/chinas-massive-oil-loan-debts-risk-post-maduro-venezuela-analysts?utm_source=rss_feed Thu, 08 Jan 2026 05:59:49 +0000 Xinyi Wu Xinyi Wu Amid prolonged international sanctions imposed on Venezuela, Chinese enterprises stood out as some of the few willing to pour resources into the South American country’s turbulent economy. However, Saturday’s capture of Venezuelan President Nicolas Maduro by US forces – just hours after Maduro met with Chinese diplomats to reaffirm their strategic partnership – raises concerns about the future of such investments. In this explainer, we examine the portfolio of Chinese assets in Venezuela and how... https://www.scmp.com/economy/global-economy/article/3338807/what-assets-does-china-have-venezuela-and-what-could-happen-maduro-gone?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3338807/what-assets-does-china-have-venezuela-and-what-could-happen-maduro-gone?utm_source=rss_feed Mon, 05 Jan 2026 14:30:11 +0000 Xinyi Wu Xinyi Wu More Chinese travellers are pivoting from mass-market sightseeing to bespoke adventures to ring in the new year, fuelling a surge in demand for pet-friendly itineraries and winter excursions as service consumption defies a broader economic gloom. “Tailored travel is gaining traction,” online travel platform Fliggy said in a December 23 statement, citing a shift towards immersive “experiences that go beyond sightseeing”, favouring more memorable moments and personalisation. In particular,... https://www.scmp.com/economy/china-economy/article/3338357/chinas-service-sector-shines-holidaymakers-embrace-pet-travel-and-bespoke-adventures?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3338357/chinas-service-sector-shines-holidaymakers-embrace-pet-travel-and-bespoke-adventures?utm_source=rss_feed Thu, 01 Jan 2026 06:00:22 +0000 Xinyi Wu,Ji Siqi Xinyi Wu,Ji Siqi China is kicking off 2026 with a three-year import quota for beef shipments from major trading partners, in a move aimed at protecting its struggling domestic industry over the coming years. Effective Thursday, a 55 per cent tariff will be levied on over-quota beef from countries including Brazil, Argentina, Australia, Uruguay, New Zealand and the United States, the Ministry of Commerce announced on Wednesday. “The objective of these safeguard measures on imported beef is to help the domestic... https://www.scmp.com/economy/global-economy/article/3338320/china-imposes-beef-import-quota-slaps-over-quota-tariffs-shield-local-industry?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3338320/china-imposes-beef-import-quota-slaps-over-quota-tariffs-shield-local-industry?utm_source=rss_feed Wed, 31 Dec 2025 13:00:14 +0000 Xinyi Wu Xinyi Wu China’s factory activity returned to expansionary territory in December – beating market expectations to end an eight-month contraction – but analysts said it might be premature to view the rebound as a sign of sustained stabilisation. The manufacturing purchasing managers’ index (PMI) stood at 50.1 in December, up from 49.2 the previous month, according to data released on Wednesday by the National Bureau of Statistics. The reading exceeded a projection of 49.6 from economists polled by the... https://www.scmp.com/economy/china-economy/article/3338015/chinas-factory-activity-breaks-8-month-contraction-headwinds-persist?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3338015/chinas-factory-activity-breaks-8-month-contraction-headwinds-persist?utm_source=rss_feed Wed, 31 Dec 2025 04:26:10 +0000