https://www.scmp.com/rss/519716/feed Government policies and strategies have profound influences on economy, shaping the goal of economic development and the direction of activities. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com David Tingxuan Zhang David Tingxuan Zhang For years, China’s embattled real estate sector has been framed as a terminal drag on the economy – a deflating bubble that policymakers are unwilling to rescue but unable to ignore. That framing misses what is happening. The absence of a large bailout is not so much a sign of the leadership’s indifference as a deliberate choice. It points to something more consequential than short-term market stabilisation: a systemic effort to redesign the sector’s role in the macroeconomy. The old development... https://www.scmp.com/opinion/china-opinion/article/3347891/reinflate-property-sector-no-china-wants-ambitious-redesign?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3347891/reinflate-property-sector-no-china-wants-ambitious-redesign?utm_source=rss_feed Wed, 01 Apr 2026 21:30:07 +0000 Chris Pereira Chris Pereira Against a backdrop of war and global uncertainty, Chinese Premier Li Qiang delivered a clear message at the recent China Development Forum: China is committed to being a “harbour of stability” for the world. The forum, which drew CEOs from global companies such as Siemens, Nestlé and Apple, signalled to the world that while the United States flails, China offers reliability and steady governance. Even before the US-Israeli war on Iran, however, my inbox was already telling me that something was... https://www.scmp.com/opinion/china-opinion/article/3348213/surge-global-business-interest-chinas-harbour-stability?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3348213/surge-global-business-interest-chinas-harbour-stability?utm_source=rss_feed Wed, 01 Apr 2026 08:30:08 +0000 Marco Vicenzino Marco Vicenzino Geopolitical competition has long been understood in territorial terms. Power was measured by control over land, resources and populations. Rivalry was expressed through military confrontation, alliance formation and the defence of borders. As economic interdependence deepened in the 20th century, globalisation was seen as an arena within which states competed, but not itself the object of competition. That assumption no longer holds. Increasingly, the infrastructure of globalisation is becoming... https://www.scmp.com/opinion/china-opinion/article/3347953/age-us-china-rivalry-supply-chain-statecraft-counts?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3347953/age-us-china-rivalry-supply-chain-statecraft-counts?utm_source=rss_feed Tue, 31 Mar 2026 08:30:09 +0000 Ji Siqi Ji Siqi Chinese government advisers are calling for government-set “red lines” in artificial intelligence development and applications, as mounting threats of job displacement and data security challenges spark concerns in the country. Jiang Xiaojuan, former deputy secretary general of the State Council, said at the Boao Forum for Asia annual conference in Hainan province that precaution was needed when using AI simply to reduce labour costs. “Those that do not improve service quality or promote... https://www.scmp.com/economy/china-economy/article/3347940/job-fears-security-risks-spark-call-chinese-government-red-lines-ai-applications?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347940/job-fears-security-risks-spark-call-chinese-government-red-lines-ai-applications?utm_source=rss_feed Thu, 26 Mar 2026 09:00:08 +0000 Wang Huiyao Wang Huiyao For much of the post-war era, the architecture of global governance rested on the simple assumption that the United States would support the systems it largely designed and uphold the rules it helped to create. The first Trump administration was no isolated incident. Now, from the vantage point of 2026, amid the US-Israel attack on Iran and the subsequent closing of the Strait of Hormuz, it is quite clear that there is little sign of an appetite in Washington for the US to once again safeguard... https://www.scmp.com/opinion/world-opinion/article/3346975/middle-powers-are-taking-mantle-multilateral-leadership?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3346975/middle-powers-are-taking-mantle-multilateral-leadership?utm_source=rss_feed Wed, 25 Mar 2026 12:30:07 +0000 Emma Zang Emma Zang China is betting artificial intelligence will solve its labour shortage, as policymakers ramp up a nationwide push to deploy AI and robotics across the economy. But it may be worsening a different problem: the erosion of stable jobs for young workers. China’s push has accelerated investment in industrial automation, installing more than half of the world’s robots in 2024 alone and doubling down on AI-enabled production. The strategy is presented as a necessary response to the demographic... https://www.scmp.com/opinion/china-opinion/article/3347386/why-chinas-ai-automation-push-risky-social-experiment?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3347386/why-chinas-ai-automation-push-risky-social-experiment?utm_source=rss_feed Mon, 23 Mar 2026 12:30:10 +0000 Ji Siqi Ji Siqi China has pledged to strengthen artificial intelligence (AI) security, including through a new data property rights framework, at a time when users and businesses are rapidly adopting the highly coveted but controversial OpenClaw. On Monday, Liu Liehong, head of the National Data Administration, said security and compliance had become core challenges as AI spread across industry and daily life. Speaking at the China Development Forum, Liu cited challenges ranging from copyright disputes over... https://www.scmp.com/economy/china-economy/article/3347604/china-vows-stricter-ai-safeguards-openclaw-sparks-security-fears?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347604/china-vows-stricter-ai-safeguards-openclaw-sparks-security-fears?utm_source=rss_feed Mon, 23 Mar 2026 12:00:08 +0000 Nicholas Spiro Nicholas Spiro Last week, the energy shock caused by the war in Iran showed signs of becoming a full-blown financial and economic crisis. The attacks on energy infrastructure across the Middle East, coupled with soaring prices of crucial refined petroleum products such as diesel and jet fuel, forced investors to start pricing in a prolonged disruption to supply and a contraction in demand. Even if the Strait of Hormuz reopens sooner than anticipated, the scale of the damage to energy assets in the Persian Gulf... https://www.scmp.com/opinion/asia-opinion/article/3347540/war-induced-interest-rate-shocks-unlikely-upset-asias-property-markets?utm_source=rss_feed https://www.scmp.com/opinion/asia-opinion/article/3347540/war-induced-interest-rate-shocks-unlikely-upset-asias-property-markets?utm_source=rss_feed Mon, 23 Mar 2026 08:30:09 +0000 Cui Jianchun Cui Jianchun With the conclusion of China’s parliamentary “two sessions”, the approval of the 2026 government work report and 15th five-year plan – together with the foreign minister’s press conference – has sent a clear signal of China pursuing steady and quality-driven growth while projecting a firm and timely voice on the world stage. In the work report, Premier Li Qiang noted that China’s gross domestic product grew by 5 per cent last year, surpassing 140 trillion yuan (US$20.3 trillion). This year’s... https://www.scmp.com/opinion/china-opinion/article/3347213/china-charts-new-course-hong-kong-writes-its-next-chapter?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3347213/china-charts-new-course-hong-kong-writes-its-next-chapter?utm_source=rss_feed Sun, 22 Mar 2026 21:30:08 +0000 Lizzi C. Lee,Huiyan Li Lizzi C. Lee,Huiyan Li During a press conference of the annual “two sessions”, National People’s Congress spokesperson Lou Qinjian referenced the grass-roots football league Suchao or Su Super League, which drew millions of spectators in Chinese stadiums last year. At a time when boosting domestic demand tops Beijing’s economic agenda, discussing an amateur sports tournament at the national podium goes beyond mere cultural commentary. It hints at something broader about how policymakers are approaching the consumption... https://www.scmp.com/opinion/china-opinion/article/3347017/china-struggles-boost-demand-no-one-size-fits-all-solution-will-work?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3347017/china-struggles-boost-demand-no-one-size-fits-all-solution-will-work?utm_source=rss_feed Fri, 20 Mar 2026 21:30:08 +0000 David Dodwell David Dodwell If there is a thread that provides coherence to Donald Trump’s mad emperorship, it is the frenetic invention of new, evermore dramatic diversions: no week can be allowed to pass without new melodrama that erases the chaotic melodramas of weeks past. Nor can a week be allowed to pass without the seeds being sown for next week’s melodramas. This week it is Iran, and the computer-gaming unreality of a scorched-earth US-Israeli bombardment that has generated convulsions across economies in the... https://www.scmp.com/opinion/world-opinion/article/3347181/us-section-301-tariffs-set-trigger-fresh-wave-trade-disruption?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3347181/us-section-301-tariffs-set-trigger-fresh-wave-trade-disruption?utm_source=rss_feed Fri, 20 Mar 2026 08:30:08 +0000 Lijia Zhang Lijia Zhang My grandmother kept her banknotes under the mattress. Even after savings accounts became common and the money my siblings and I gave her began to accumulate, she still preferred to hide cash away at home. She loved saving and hated spending. I thought of her when China’s leaders again emphasised the need to boost domestic consumption at this year’s “two sessions” meetings. With exports facing geopolitical headwinds and the property sector struggling, policymakers hope households will become a... https://www.scmp.com/opinion/china-opinion/article/3346765/chinas-high-household-savings-reflect-old-values-and-new-anxieties?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3346765/chinas-high-household-savings-reflect-old-values-and-new-anxieties?utm_source=rss_feed Thu, 19 Mar 2026 21:30:08 +0000 He Huifeng He Huifeng Shanghai certified 30 new regional headquarters of multinational corporations and 15 research and development centres funded by overseas entities on Wednesday – a sign of continued interest in the Chinese financial hub despite an overall decline in the country’s foreign direct investment (FDI). Of the companies whose headquarters and R&D centres were certified this week in a ceremony hosted by the city’s mayor, Gong Zheng, eight are on the Fortune 500 list, according to a statement from the... https://www.scmp.com/economy/china-economy/article/3347178/shanghai-certifies-30-overseas-offices-amid-chinas-investment-sales-pitch?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347178/shanghai-certifies-30-overseas-offices-amid-chinas-investment-sales-pitch?utm_source=rss_feed Thu, 19 Mar 2026 10:30:09 +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 Ralph Jennings Ralph Jennings China announced visa-free entry for Canadian and British nationals on February 17, allowing citizens of the two countries to cross the border and stay for up to 30 days with no more than a passport. The move was just the latest expansion of China’s visa-free policies, which have eased entry rules for citizens of dozens of nations over the past few years as part of an effort to boost tourism. Immigration officials now allow travellers from dozens of countries to stay without a visa for up to 10... https://www.scmp.com/economy/china-economy/article/3346504/here-are-5-ways-enter-china-without-visa-land-sea-or-air?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3346504/here-are-5-ways-enter-china-without-visa-land-sea-or-air?utm_source=rss_feed Sat, 14 Mar 2026 08:00:09 +0000 Ji Siqi Ji Siqi The full implementation of taxation reforms pledged in China’s new five-year plan would substantially ease the fiscal strains on local governments, a leading tax policy expert said, while adding that it would not alter the central government’s dominant role in the country’s fiscal landscape. As a unitary state, China’s systematic advantage lay in strong central government finance that could coordinate fiscal resources in a unified manner and redistribute them through transfer payments, in... https://www.scmp.com/economy/china-economy/article/3346372/fiscal-family-adviser-says-chinas-tax-flows-should-resemble-parental-ties?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3346372/fiscal-family-adviser-says-chinas-tax-flows-should-resemble-parental-ties?utm_source=rss_feed Fri, 13 Mar 2026 03:00:10 +0000 Sylvia Ma Sylvia Ma Huang Yiping, a veteran Chinese economist, has attended countless policy forums and high-level summits over his long career. But one event at Peking University a decade ago stands out. Academic debates are often niche, sparsely attended affairs, but that afternoon in November 2016 was different. Seats in the auditorium were snatched up in minutes as people piled in to witness a showdown that had attracted nationwide attention. The public frenzy centred on a rare face-to-face clash between two... https://www.scmp.com/economy/china-economy/article/3346238/pivot-how-china-turbocharged-its-industrial-policy-and-remade-global-economy?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3346238/pivot-how-china-turbocharged-its-industrial-policy-and-remade-global-economy?utm_source=rss_feed Wed, 11 Mar 2026 22:00:08 +0000 Kun Tian Kun Tian China’s annual parliamentary “two sessions” have been framed as a show of resilience in a turbulent world. That framing is not wrong but it is incomplete. Beijing’s deliberately lower 2026 economic growth target is less an admission of weakness than a signal that the growth playbook is being rewritten. For Hong Kong, this is not background noise. It is a test of whether policy alignment can be converted into institutional credibility. When Premier Li Qiang delivered the government work report... https://www.scmp.com/opinion/hong-kong-opinion/article/3345773/why-chinas-economic-reset-credibility-test-hong-kong?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3345773/why-chinas-economic-reset-credibility-test-hong-kong?utm_source=rss_feed Tue, 10 Mar 2026 01:30:07 +0000 Anthony Rowley Anthony Rowley If financial markets can survive the United States’ war on Iran and Russia’s war against Ukraine, does this mean that financial crashes have become a thing of the past? Or have markets just not grasped the true nature of the current threats to the financial system? The latter is almost certainly the case, as former Goldman Sachs CEO Lloyd Blankfein suggested when he said in a recent Financial Times interview that people had “got more complacent” about financial risks since the 2008 crisis. It is... https://www.scmp.com/opinion/world-opinion/article/3345580/cause-next-global-market-crash-hiding-plain-sight?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3345580/cause-next-global-market-crash-hiding-plain-sight?utm_source=rss_feed Sat, 07 Mar 2026 08:30:08 +0000 Xiaofei Xu,Mia Nurmamat,Coco Feng Xiaofei Xu,Mia Nurmamat,Coco Feng China has outlined a basket of measures to support its technology sector, from creating a more flexible and inclusive fundraising ecosystem to boosting demand for hi-tech products. During a high-profile press conference in Beijing, the country’s top economic officials laid out plans to deepen reforms to ChiNext – China’s board for start-ups – and make it easier and quicker for companies to refinance. “Technological innovation requires high investment, long cycles, and carries significant risks,”... https://www.scmp.com/economy/china-economy/article/3345764/china-pledges-full-support-tech-sector-broad-range-new-policies?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345764/china-pledges-full-support-tech-sector-broad-range-new-policies?utm_source=rss_feed Fri, 06 Mar 2026 13:05:08 +0000 Mandy Zuo Mandy Zuo China’s top economic officials held a press conference on the sidelines of the “two sessions” – the annual meetings of China’s top legislature and advisory body – in Beijing on Friday. The briefing, which came a day after Beijing unveiled its economic goals for 2026 and a draft outline for its 15th five-year plan, offered fresh insights into China’s agenda for trade, investment and technological development. Here are the main takeaways from the meeting: Exchange rate Pan Gongsheng, governor of... https://www.scmp.com/economy/china-economy/article/3345737/8-takeaways-economic-briefing-chinas-two-sessions?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345737/8-takeaways-economic-briefing-chinas-two-sessions?utm_source=rss_feed Fri, 06 Mar 2026 10:57:01 +0000 David Dodwell David Dodwell As the world’s largest oil and gas importer, China undoubtedly faces a significant disruption, what with the US-Israeli war on Iran and its cascading impact across the Gulf. But it could have been worse. Beijing has worked unstintingly for well over a decade to build energy self-reliance and reduce the role of fossil fuels in powering the country’s manufacturing economy. For leaders gathered in Beijing for the annual parliamentary “two sessions” meetings, which will endorse China’s 15th... https://www.scmp.com/opinion/china-opinion/article/3345607/chinas-energy-transition-proves-boon-iran-crisis?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3345607/chinas-energy-transition-proves-boon-iran-crisis?utm_source=rss_feed Fri, 06 Mar 2026 08:30:07 +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 SCMP Reporters SCMP Reporters This live blog is freely available to our registered users. Please log in or create an account below. For full coverage of the 15th five-year plan, including policy and economic shifts plus Trump’s visit, subscribe with our China Super March offer now. China’s top economic officials held a press conference on Friday as part of the “two sessions”, the country’s annual policymaking meetings. The leaders of the National Development and Reform Commission – Beijing’s top economic planner – the... https://www.scmp.com/economy/china-economy/article/3345694/two-sessions-2026-china-lays-out-its-economic-agenda-press-conference?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345694/two-sessions-2026-china-lays-out-its-economic-agenda-press-conference?utm_source=rss_feed Fri, 06 Mar 2026 06:55:23 +0000 Xiaofei Xu Xiaofei Xu President Xi Jinping urged China’s major provincial economies to take the lead in technological innovation and strengthen their resilience to external shocks over the next five years, as part of the annual meeting of the National People’s Congress (NPC) – the country’s top legislature – which began in Beijing on Thursday. Addressing deputies from the eastern province of Jiangsu, Xi said the region should be at the forefront of developing “new quality productive forces” – the emerging industries... https://www.scmp.com/economy/china-economy/article/3345613/xi-jinping-calls-chinas-provincial-powerhouses-lead-tech-two-sessions?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345613/xi-jinping-calls-chinas-provincial-powerhouses-lead-tech-two-sessions?utm_source=rss_feed Thu, 05 Mar 2026 13:22:20 +0000 Sylvia Ma,Carol Yang Sylvia Ma,Carol Yang China will set priorities for technological innovation, economic security, public well-being and carbon reduction over the next five years, vowing to lay a solid foundation for its 2035 target of doubling per capita gross domestic product from 2020 levels. The world’s second-largest economy will release 20 growth targets, including both binding and non-binding ones, in areas covering the economy, technology, healthcare and economic security, Premier Li Qiang said when outlining the broad strokes... https://www.scmp.com/economy/china-economy/article/3345525/china-step-tech-energy-and-decarbonisation-efforts-next-5-year-plan?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345525/china-step-tech-energy-and-decarbonisation-efforts-next-5-year-plan?utm_source=rss_feed Thu, 05 Mar 2026 05:54:25 +0000 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 Wang Xiangwei Wang Xiangwei As China’s leaders convene for the annual “two sessions” starting this week, the eyes of the world will be fixed on Beijing. This gathering is no ordinary policy meeting. Beyond setting the economic growth target for 2026, it will finalise the 15th five-year plan (2026–2030), a blueprint that will define the nation’s economic and social priorities for the second half of this decade. In an era of intensifying great-power competition, particularly with the United States, these decisions will shape... https://www.scmp.com/opinion/china-opinion/article/3344883/now-time-china-show-its-serious-about-opening?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3344883/now-time-china-show-its-serious-about-opening?utm_source=rss_feed Sun, 01 Mar 2026 21:30:08 +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 Kenny Shui,Pascal Siu,Katie Ho Kenny Shui,Pascal Siu,Katie Ho Following a challenging cycle, Financial Secretary Paul Chan Mo-po has delivered a budget returning Hong Kong to the black. After consecutive operating deficits, the operating account has returned to profit. Simultaneously, the consolidated account records a HK$2.9 billion (US$370.6 million) surplus for 2025/26, signalling stability. This turnaround is driven largely by a buoyant stock market and a stabilising property sector, reviving stamp duty revenues and investment income. This provides... https://www.scmp.com/opinion/hong-kong-opinion/article/3344819/after-celebrating-its-surplus-hong-kong-must-work-sustaining-it?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3344819/after-celebrating-its-surplus-hong-kong-must-work-sustaining-it?utm_source=rss_feed Sat, 28 Feb 2026 01:30:07 +0000 Alex Lo Alex Lo If Caligula were the president of the United States, Taiwan’s leader William Lai Ching-te might still kowtow to him. By now, it seems pretty clear that US President Donald Trump has no real policies to speak of, only caprice and vague ideological preferences. That was how bad emperors acted, and Trump obviously sees himself as some kind of king, unrestrained by anything other than his personal inclinations. It’s not surprising there have been “No Kings” protests across the US. From his lifelong... https://www.scmp.com/opinion/china-opinion/article/3344682/taipei-must-break-free-its-abusive-relationship-washington?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3344682/taipei-must-break-free-its-abusive-relationship-washington?utm_source=rss_feed Fri, 27 Feb 2026 21:30:08 +0000 Sylvia Ma Sylvia Ma China should leverage bilateral and multilateral deals to accelerate the adoption of its cross-border payment system, a prominent political adviser has urged, as concerns deepen over the potential for intensified “financial weaponisation” in a global payment system centred around the US dollar. “Given escalating geopolitical conflicts, frequent financial sanctions and a growing trend of financial weaponisation, the risk of ‘payment chain disruptions’ caused by excessive reliance on external... https://www.scmp.com/economy/china-economy/article/3344727/whats-next-chinas-yuan-payment-system-adviser-banks-close-trade-partners?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3344727/whats-next-chinas-yuan-payment-system-adviser-banks-close-trade-partners?utm_source=rss_feed Thu, 26 Feb 2026 12:00:09 +0000 Zongshuai Fan Zongshuai Fan Against the news of China’s record trade surplus of US$1.19 trillion last year, some have warned it is making trade impossible, arguing that the rest of the world has fewer goods they can sell, or are willing to sell, to China. Critics point to China’s competitive edge in producing better and cheaper goods. For Beijing, this feels less like criticism and more like a subtle compliment. In many ways, it affirms China’s long-term strategy to bolster its global manufacturing. Supporting... https://www.scmp.com/opinion/china-opinion/article/3344508/how-little-giants-help-china-defend-its-manufacturing-dominance?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3344508/how-little-giants-help-china-defend-its-manufacturing-dominance?utm_source=rss_feed Wed, 25 Feb 2026 08:30:09 +0000 Ji Siqi,Kandy Wong Ji Siqi,Kandy Wong China has added 20 Japanese entities to its export control list and 20 more to a watch list scrutinising the trade of select goods, increasing economic pressure on Tokyo in a move that widens the scope of the countries’ prolonged diplomatic row to include some of Japan’s largest companies. Chinese exporters have been banned from shipping dual-use goods – items with military and civilian applications – to the firms and institutions on the export control list, Beijing’s Ministry of Commerce said... https://www.scmp.com/economy/global-economy/article/3344394/china-adds-20-japanese-firms-export-control-list?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3344394/china-adds-20-japanese-firms-export-control-list?utm_source=rss_feed Tue, 24 Feb 2026 02:12:47 +0000 Göktuğ Çalışkan Göktuğ Çalışkan African nations have long been asking: who really opens their market, on what terms and how fast? Earlier this month, China provided a clear answer when it stated that starting on May 1, China will apply zero tariffs on imports from 53 African countries with which it maintains diplomatic relations. For years, Western governments have promised to rethink their partnerships with their African counterparts, tying positive language about equality and sustainability to complex trade frameworks. China... https://www.scmp.com/opinion/china-opinion/article/3344301/chinas-zero-tariff-offer-africa-game-changer?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3344301/chinas-zero-tariff-offer-africa-game-changer?utm_source=rss_feed Mon, 23 Feb 2026 21:30:07 +0000 Sebastian Contin Trillo-Figueroa Sebastian Contin Trillo-Figueroa German Chancellor Friedrich Merz, who heads to Beijing this week, had warned last year in relation to China that economic dependencies make Germany “susceptible to blackmail”. As chancellor, he confronts an export model under strain, a deteriorating transatlantic environment and the fiscal reality that moral posturing does not sustain an industrial economy. Merz has never been shy about stating where he stands. As chairman of the non-profit Atlantik-Brucke from 2009 to 2019, he boosted the view... https://www.scmp.com/opinion/world-opinion/article/3344239/germanys-outreach-china-signals-reckoning-rather-shift?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3344239/germanys-outreach-china-signals-reckoning-rather-shift?utm_source=rss_feed Mon, 23 Feb 2026 13:07:33 +0000 Meredith Chen Meredith Chen Abraham Newman is an American political scientist and a professor in the School of Foreign Service and Department of Government at Georgetown University. His research focuses on the ways in which economic interdependence and globalisation have transformed international politics. Along with Henry Farrell, he is co-author of the book Underground Empire: How America Weaponised the World Economy, published in 2023. In this interview, he discusses how the concept of weaponised interdependence has... https://www.scmp.com/plus/economy/china-economy/article/3344287/how-can-world-resist-us-china-economic-coercion-abraham-newman-explains?utm_source=rss_feed https://www.scmp.com/plus/economy/china-economy/article/3344287/how-can-world-resist-us-china-economic-coercion-abraham-newman-explains?utm_source=rss_feed Mon, 23 Feb 2026 03:24:58 +0000 Genevieve Donnellon-May Genevieve Donnellon-May A single policy could redraw global food supply lines and scramble markets from the Americas to Southeast Asia. In early February, the Communist Party of China’s Central Committee and State Council released the annual “No 1 document”, the country’s first policy statement of 2026 and its blueprint for agriculture, farmers and rural areas. As one of the world’s largest agricultural producers, importers and exporters, any shift in Beijing’s food strategy carries global repercussions. Covering... https://www.scmp.com/opinion/china-opinion/article/3344152/china-seeks-cultivate-food-supply-immune-geopolitical-shocks?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3344152/china-seeks-cultivate-food-supply-immune-geopolitical-shocks?utm_source=rss_feed Sun, 22 Feb 2026 12:30:09 +0000 David Dodwell David Dodwell I would like to explore some rather interesting data buried deep in the International Labour Organization’s (ILO) Economic and Social Trends 2026 report: an estimated 15.3 per cent of jobs worldwide depended on foreign demand in 2024. In other words, they depend on international trade. The ILO report, based on data from 80 economies that account for 85 per cent of global employment, says this amounts to 465 million jobs. Of these, 278 million are in Asia and the Pacific and 96 million are in... https://www.scmp.com/opinion/world-opinion/article/3344016/despite-trumps-trade-wars-globalisation-eurasias-win-or-lose?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3344016/despite-trumps-trade-wars-globalisation-eurasias-win-or-lose?utm_source=rss_feed Fri, 20 Feb 2026 08:30:08 +0000 Mandy Zuo Mandy Zuo China is gearing up to harness the extended Lunar New Year holiday to attract more spending by international tourists, as the country looks to shake off a recent economic slowdown and pivot towards consumption-driven growth. In a rare joint initiative by nine central government departments, Beijing announced plans earlier this month to turn the holiday – which this year began on Sunday and runs through February 23 – into a “consumption feast that links regions and engages everyone”. The move... https://www.scmp.com/economy/china-economy/article/3343743/china-targets-foreign-tourists-lunar-new-year-consumption-feast?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3343743/china-targets-foreign-tourists-lunar-new-year-consumption-feast?utm_source=rss_feed Wed, 18 Feb 2026 13:00:10 +0000 Sylvia Ma Sylvia Ma Authorities in the southern Chinese city of Shenzhen have warned gold market operators not to use exaggerated slogans such as “get rich by buying gold”, barring them from making inflated promises to retail investors after two trading platforms failed amid sharp price swings in global markets. Ten government departments – including the local financial regulatory bureau and the Shenzhen branch of the People’s Bank of China – issued a notice on Friday to “prevent and defuse market risks, protect... https://www.scmp.com/economy/economic-indicators/article/3343471/china-tightens-gold-trading-rules-shenzhen-after-platforms-collapse?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3343471/china-tightens-gold-trading-rules-shenzhen-after-platforms-collapse?utm_source=rss_feed Fri, 13 Feb 2026 10:05:11 +0000 Frank Chen Frank Chen China’s premier has vowed the country will consolidate its advantages in traditional industries like rare earths while also striving to accelerate innovation in frontier technologies such as artificial intelligence, as Beijing prepares to unveil its latest five-year plan. Premier Li Qiang made the call during a visit earlier this week to Ganzhou in the central Chinese province of Jiangxi – one of the world’s largest production bases for heavy rare earth elements, a strategic resource essential... https://www.scmp.com/economy/china-economy/article/3343328/chinese-premier-tours-rare-earths-production-hub-amid-rising-us-tech-rivalry?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3343328/chinese-premier-tours-rare-earths-production-hub-amid-rising-us-tech-rivalry?utm_source=rss_feed Thu, 12 Feb 2026 11:00:15 +0000 Chee Yik-wai Chee Yik-wai After a series of roller-coaster rides in financial markets, serious concerns remain about the long-term profitability of major artificial intelligence (AI) companies that mostly rely on circular financing – investing in each other to prop up demand. This volatility is worrisome when many Americans’ retirement pensions are closely tied to AI stocks, which have contributed to 80 per cent of the US stock market’s rise and 40 per cent of US GDP growth last year. Amid fears of a bubble, polls... https://www.scmp.com/opinion/china-opinion/article/3342808/china-leading-holistic-ai-development-can-us-catch?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3342808/china-leading-holistic-ai-development-can-us-catch?utm_source=rss_feed Wed, 11 Feb 2026 12:30:08 +0000 Luca Mattei Luca Mattei Energy security is once again at the very heart of the global geopolitical arena. In an era defined by conflict, sanctions and increasingly precarious maritime routes, Beijing has internalised a fundamental truth: in an unstable world, resilience trumps ideology. Recent disruptions to global shipping corridors and tightening sanction regimes have reinforced this shift, pushing major economies to reassess their exposure to external supply shocks. While much of the West remains locked in a debate... https://www.scmp.com/opinion/china-opinion/article/3342723/chinas-pragmatic-energy-security-vision-fossil-fuels-remain-vital?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3342723/chinas-pragmatic-energy-security-vision-fossil-fuels-remain-vital?utm_source=rss_feed Mon, 09 Feb 2026 12:30:12 +0000 Carol Yang Carol Yang China has almost finished building the US$10 billion Pinglu Canal to deepen trade ties between its southwestern provinces and Southeast Asia. Now, it is considering an even more ambitious – and expensive – project further inland. The Xianggui Canal would be a 300km (186 mile) waterway that effectively acts as an extension of the new Pinglu Canal, giving cities right at the heart of the Chinese interior direct access to the Gulf of Tonkin, known in China as the Beibu Gulf. Like the earlier... https://www.scmp.com/economy/china-economy/article/3342669/time-ripe-why-china-eyeing-another-vast-canal-link-southeast-asia?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3342669/time-ripe-why-china-eyeing-another-vast-canal-link-southeast-asia?utm_source=rss_feed Mon, 09 Feb 2026 01:00:25 +0000 Justin Diamond Justin Diamond Western media and policymakers enjoy wagging their fingers at China’s industrial “overcapacity”, which in reality is simply the ability to produce solar panels, batteries, electric vehicles, steel and other goods more cheaply and efficiently than others can. Yes, some industries are subsidised, but they also benefit immensely from rapid growth in technical know-how and economies of scale. China hasn’t really built too much; it’s just built too efficiently for the comfort of its competitors. The... https://www.scmp.com/opinion/china-opinion/article/3342379/how-us-can-actually-benefit-chinas-overcapacity?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3342379/how-us-can-actually-benefit-chinas-overcapacity?utm_source=rss_feed Sun, 08 Feb 2026 08:30:08 +0000 Luna Sun Luna Sun China’s long-term growth trajectory will depend on the introduction of market reforms, and the country’s potential growth rate could fall to about 2.5 per cent in the coming years unless action is taken, a prominent Chinese economist has warned. “Without a strong turnaround in total factor productivity and a meaningful expansion in household consumption, it will be difficult for China’s economic growth to reach 4 per cent or higher,” said Zhou Tianyong, former deputy head of the Central Party... https://www.scmp.com/economy/china-economy/article/3342679/chinas-future-growth-rate-could-drop-25-without-market-reforms-economist?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3342679/chinas-future-growth-rate-could-drop-25-without-market-reforms-economist?utm_source=rss_feed Sun, 08 Feb 2026 08:00:16 +0000 Regina Ip Regina Ip At this time of year, Financial Secretary Paul Chan Mo-po’s top priority is finalising the Hong Kong government’s budget for 2026-27, balancing requests for incentives and welfare against calls for a return to fiscal prudence. For decades, budget speeches have followed a familiar structure: a review of past performance, near- and medium-term forecasts, support measures for industries and social services, a report on the government’s fiscal position and financial estimates for the coming year.... https://www.scmp.com/opinion/hong-kong-opinion/article/3342610/hong-kongs-budget-should-move-city-towards-inspirational-development?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3342610/hong-kongs-budget-should-move-city-towards-inspirational-development?utm_source=rss_feed Sun, 08 Feb 2026 01:30:08 +0000 Richard Harris Richard Harris US President Donald Trump’s trip to Europe to speak at the World Economic Forum in the Swiss alpine town of Davos was possibly one he wished he had never made; such was its failure to impress. First, his plane had to turn back due to a technical problem. Second, he gave a typically hostile speech, but then he lived up to his nickname “Taco” (Trump always chickens out) over threats to invade Greenland that would have imperilled about a third of global trade. Third, he said disingenuously that if... https://www.scmp.com/opinion/world-opinion/article/3342335/how-america-first-many-respects-puts-america-behind?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3342335/how-america-first-many-respects-puts-america-behind?utm_source=rss_feed Thu, 05 Feb 2026 12:30:11 +0000 Ji Siqi Ji Siqi China has tightened tax incentives and raised preferential rates in several sectors as part of a broader push to generate more government funds, after experiencing a sharp drop in fiscal revenues amid an economic slowdown and persistent deflationary pressure. The Ministry of Finance and State Taxation Administration released a slew of detailed provisions for the country’s new value-added tax (VAT) law over the weekend, which included raising the rate applied to telecommunication services from 6... https://www.scmp.com/economy/china-economy/article/3342098/china-pushes-shore-government-finances-tax-rises-several-sectors?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3342098/china-pushes-shore-government-finances-tax-rises-several-sectors?utm_source=rss_feed Mon, 02 Feb 2026 13:30:11 +0000