https://www.scmp.com/rss/519938/feed The latest news and insights on China’s 2024 economic stimulus packages and measures, from property, stocks and government policy to far-reaching social and market implications. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com 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 SCMP Editorial SCMP Editorial The “two sessions” of China’s top legislative and political advisory bodies have concluded with the passage of major resolutions. A number of things set it apart. One is the endorsement by lawmakers of the nation’s 15th five-year plan – a road map with which Hong Kong is aligning its development. The other is that despite the distractions of war in the Middle East between rival power the United States and economic partner Iran, and the roller-coaster impact on the price of oil, China’s... https://www.scmp.com/opinion/comment/article/3346385/chinas-two-sessions-passes-smoothly-despite-global-turmoil?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3346385/chinas-two-sessions-passes-smoothly-despite-global-turmoil?utm_source=rss_feed Thu, 12 Mar 2026 23:15:10 +0000 Fan Hou Fan Hou To see every province-level region’s growth target, view this Quick Digest. https://www.scmp.com/plus/economy/china-economy/article/3345931/two-sessions-2026?utm_source=rss_feed https://www.scmp.com/plus/economy/china-economy/article/3345931/two-sessions-2026?utm_source=rss_feed Mon, 09 Mar 2026 05:16:08 +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 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 Mandy Zuo Mandy Zuo China will allocate more of its fiscal spending this year towards human capital and social safety nets, as Beijing seeks to boost domestic demand and unlock new growth through “investing in people”. “Efforts must be sustained to optimise the expenditure structure, with greater emphasis on supporting the boosting of consumption, investing in people, and safeguarding people’s livelihoods,” Premier Li Qiang said in his annual work report, delivered during the opening session of the National... https://www.scmp.com/economy/china-economy/article/3345615/china-pivots-investing-people-strategy-growth-engine-switches-gears?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345615/china-pivots-investing-people-strategy-growth-engine-switches-gears?utm_source=rss_feed Fri, 06 Mar 2026 05:00:08 +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 Frank Chen Frank Chen Chinese households have accelerated deleveraging – cutting debt relative to gross domestic product – at the fastest pace in years, a shift that could weigh on the consumer spending that Beijing needs to sustain growth in the world’s second-largest economy. The household debt-to-GDP ratio fell by 2 percentage points, from 61.4 per cent in 2024 to 59.4 per cent at the end of 2025, according to data released on Monday by the National Institution for Finance and Development (NIFD), a Beijing-based... https://www.scmp.com/economy/china-economy/article/3341435/chinas-consumer-spending-push-faces-major-challenge-debt-averse-households?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3341435/chinas-consumer-spending-push-faces-major-challenge-debt-averse-households?utm_source=rss_feed Tue, 27 Jan 2026 13:00:21 +0000 Alice Li Alice Li China’s property downturn and sluggish consumer spending have become twin anchors weighing down the economy over the past few years. Now, scholars at a top Beijing university are proposing a measure they believe could ease both problems: a mortgage subsidy. The Tsinghua University economists have called for the introduction of mortgage interest rate subsidies as part of a wider effort to stabilise the property market, arguing that arresting the decline in housing prices will be critical to... https://www.scmp.com/economy/china-economy/article/3339874/why-mortgage-subsidies-could-be-key-getting-chinas-consumers-spending?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3339874/why-mortgage-subsidies-could-be-key-getting-chinas-consumers-spending?utm_source=rss_feed Wed, 14 Jan 2026 14:00:21 +0000 Raymond Ma,Neil Denslow Raymond Ma,Neil Denslow Chinese inflation rose to the highest in almost three years as rising food costs masked ongoing deflationary pressures in other corners of the economy. The consumer price index climbed 0.8 per cent from a year earlier in December, the biggest gain since February 2023, according to the National Bureau of Statistics. Food costs jumped 1.1 per cent, spurred by fresh vegetables, while transport fell 2.6 per cent amid lower car prices and a slump in fuel costs. Factory-gate prices dropped for the... https://www.scmp.com/plus/article/3339311/china-prices-pick-venezuela-raid-fallout-carney-visit?utm_source=rss_feed https://www.scmp.com/plus/article/3339311/china-prices-pick-venezuela-raid-fallout-carney-visit?utm_source=rss_feed Fri, 09 Jan 2026 09:00:21 +0000 Sylvia Ma Sylvia Ma China’s central bank has reiterated its commitment to a “moderately loose” policy stance in 2026, pledging stronger countercyclical and cross-cycle adjustments and signalling flexible and efficient use of reserve requirement ratio (RRR) cuts and interest rate reductions to support a strong start to the 15th five-year plan. At a work conference outlining priorities for the coming year, the People’s Bank of China also highlighted goals including a reasonable recovery in prices, mitigating... https://www.scmp.com/economy/china-economy/article/3339018/chinas-central-bank-signals-reserve-ratio-interest-rate-cuts-2026?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3339018/chinas-central-bank-signals-reserve-ratio-interest-rate-cuts-2026?utm_source=rss_feed Wed, 07 Jan 2026 08:30:27 +0000 Wang Xiangwei Wang Xiangwei As 2026 dawns, China has signalled a renewed crusade: persuading its citizens to spend more, for their own benefit and for the country’s. Yet history offers a cautionary tale. China’s leaders have long harboured an ambivalent relationship with consumption as a growth engine, instead favouring production and investment. This time, though, the signals suggest a deeper resolve. The gravity of this pivot is underscored by Qiushi, the Communist Party’s flagship publication, which last month published... https://www.scmp.com/opinion/china-opinion/article/3338496/why-china-still-struggling-invest-people?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3338496/why-china-still-struggling-invest-people?utm_source=rss_feed Sun, 04 Jan 2026 21:30:09 +0000 Daniel Ren Daniel Ren The slumbering property sector remains a threat to China’s economic growth because of its huge impact on the employment rate and consumer demand, according to industry officials and analysts. Amid sharp declines in property investment, housing sales and home prices last year, a further downturn of the significant sector may put more developers, workers, homebuyers and banks at risk. In the first 11 months of 2025, new properties worth 7.5 trillion yuan (US$1.07 trillion), comprising units for... https://www.scmp.com/business/banking-finance/article/3338662/property-industry-remains-enemy-within-beijings-economic-targets?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3338662/property-industry-remains-enemy-within-beijings-economic-targets?utm_source=rss_feed Sun, 04 Jan 2026 07:30:16 +0000 Zhao Ziwen Zhao Ziwen President Xi Jinping issued a rallying cry for the country to double down on efforts to boost economic growth and technological advancement as he delivered his annual televised New Year’s speech on Wednesday. The call came as Beijing faces complicated geopolitical challenges while pushing for economic transition at home, with the coming years seen as critical to consolidating its position in its rivalry with Washington. Xi also mentioned Taiwan, describing the island’s reunification with the... https://www.scmp.com/news/china/diplomacy/article/3338333/new-years-speech-xi-urges-growth-and-vows-unstoppable-taiwan-reunification?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3338333/new-years-speech-xi-urges-growth-and-vows-unstoppable-taiwan-reunification?utm_source=rss_feed Wed, 31 Dec 2025 12:59:21 +0000 Mandy Zuo,Carol Yang Mandy Zuo,Carol Yang Whether in China’s urban centres or its remote rural areas, Christmas is not typically celebrated with the fanfare seen in the West. On the mainland, December 25 is not even a public holiday, with the lion’s share of enthusiasm reserved for the traditional Lunar New Year period beginning in January or February. Zhang Li, who lives in a pastoral section of the Inner Mongolia autonomous region in the country’s north, was no exception. But this year things have changed, thanks in part to a new... https://www.scmp.com/economy/china-economy/article/3337459/hard-work-and-long-hours-fuelled-chinas-rise-now-it-mulls-benefits-longer-breaks?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3337459/hard-work-and-long-hours-fuelled-chinas-rise-now-it-mulls-benefits-longer-breaks?utm_source=rss_feed Wed, 24 Dec 2025 13:00:10 +0000 Frank Chen,Sylvia Ma Frank Chen,Sylvia Ma China is expected to set its fiscal deficit ratio at around 4 per cent of gross domestic product in 2026, analysts said, adding the affirmation of a more prominent role for fiscal policy at this week’s central economic work conference indicates a selective approach to increasing government expenditures. In a statement issued after the annual conference ended on Tuesday, officials called for maintaining a “necessary deficit size, total debt and expenditure volume”. The December meeting of... https://www.scmp.com/economy/policy/article/3336240/china-keep-high-fiscal-deficit-ratio-2026-buoy-spending-plans-analysts?utm_source=rss_feed https://www.scmp.com/economy/policy/article/3336240/china-keep-high-fiscal-deficit-ratio-2026-buoy-spending-plans-analysts?utm_source=rss_feed Fri, 12 Dec 2025 12:00:18 +0000 Brian Rhoads,Raymond Ma Brian Rhoads,Raymond Ma Chinese leaders gather for a key year-end economic conference this week against a backdrop of easing deflation concerns, booming exports and lingering trade-war threats. Policymakers will consider the direction of next year’s economic policy at the closed-door central economic work conference in Beijing as the nation moves to cool profit-sapping price wars and boost domestic demand amid a prolonged real-estate slump. The country also faces the risk of overseas trade tensions after generating a... https://www.scmp.com/plus/article/3335890/chinas-economy-can-probably-ride-out-storms-2026?utm_source=rss_feed https://www.scmp.com/plus/article/3335890/chinas-economy-can-probably-ride-out-storms-2026?utm_source=rss_feed Wed, 10 Dec 2025 09:00:45 +0000 Carol Yang Carol Yang China’s commerce minister has urged the country to push forward with opening-up policies over the next five years to reshape China’s role in the global economy while bolstering domestic consumption, as Beijing gears up for one of its most important economic planning meetings of the year. Commerce Minister Wang Wentao highlighted China’s commitment to open markets and multilateral trade in an article published in the Communist Party’s flagship newspaper, People’s Daily, on Monday. His remarks... https://www.scmp.com/economy/china-economy/article/3335608/chinese-minister-calls-more-opening-key-planning-meeting-looms?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3335608/chinese-minister-calls-more-opening-key-planning-meeting-looms?utm_source=rss_feed Mon, 08 Dec 2025 10:30:08 +0000 Sylvia Ma Sylvia Ma As the Chinese leadership prepares to set the economic agenda for the year ahead, analysts expect Beijing to mostly maintain this year’s policy tone but say it could tolerate a slightly lower growth target. Chinese leaders will hold a closed-door meeting to discuss next year’s main policy goals during the central economic work conference, which usually takes place in early or mid-December. “To address the demand slump, we expect Beijing to maintain its proactive fiscal policy stance, with a... https://www.scmp.com/economy/china-economy/article/3335356/china-keep-economic-strategy-2026-slightly-lower-gdp-target-possible-analysts?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3335356/china-keep-economic-strategy-2026-slightly-lower-gdp-target-possible-analysts?utm_source=rss_feed Fri, 05 Dec 2025 11:15:13 +0000 Andrew Sheng Andrew Sheng In 2004, Joshua Cooper Ramo, now co-CEO of Kissinger Associates, coined the term “Beijing Consensus” as an alternative to the Washington Consensus, the neoliberal framework of economic policies devised in the 1980s by the International Monetary Fund, World Bank and US Treasury. China had just joined the World Trade Organization and, within the country, there was considerable scepticism that a Beijing Consensus existed. Come 2007, and as the global financial crisis broke out – first with the US... https://www.scmp.com/opinion/china-opinion/article/3333564/rise-beijing-led-global-south-consensus?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3333564/rise-beijing-led-global-south-consensus?utm_source=rss_feed Fri, 21 Nov 2025 21:30:08 +0000 He Huifeng He Huifeng In early November, China’s most populous province launched its biggest ever consumer subsidy programme, with the government pledging to commit 3.5 billion yuan (US$492 million) to offer discounts on a slew of products: from smartphones to snowboards. Guangdong’s scheme is the latest attempt by Chinese authorities to use consumption vouchers to boost domestic spending – a campaign that is key to China’s efforts to shore up growth and rebalance its economy amid the ongoing US trade war. But on the... https://www.scmp.com/economy/china-economy/article/3331960/not-economy-guangdongs-huge-subsidy-scheme-falls-flat-consumers?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3331960/not-economy-guangdongs-huge-subsidy-scheme-falls-flat-consumers?utm_source=rss_feed Mon, 10 Nov 2025 02:00:11 +0000 Ji Siqi Ji Siqi Few areas of China reflect the country’s decades-long economic transformation more vividly than its cities. Rapid development has turned villages into dense urban landscapes and already sizeable metro areas into some of the world’s largest population centres. As the rate of urbanisation slows and the country transitions into a new economic era, we explore how select Chinese cities are navigating the change. Read the rest of our series here. There is hardly a city in China like Datong, where... https://www.scmp.com/economy/china-economy/article/3330638/chinas-urban-revival-and-datong-contradiction-when-planning-double-edged-sword?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3330638/chinas-urban-revival-and-datong-contradiction-when-planning-double-edged-sword?utm_source=rss_feed Tue, 28 Oct 2025 22:00:16 +0000 Sylvia Ma Sylvia Ma China’s top economic planner, the National Development and Reform Commission (NDRC), confirmed last month that Beijing was setting up a new “policy-based financial instrument” worth 500 billion yuan (US$70 billion). The special financing tool was first proposed in April – when trade tensions between China and the United States were rapidly escalating – to provide an extra injection of funding to accelerate domestic innovation and support the economy. It has the potential to drive trillions of... https://www.scmp.com/economy/china-economy/article/3329244/china-has-new-500-billion-yuan-financial-instrument-how-will-it-be-used?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3329244/china-has-new-500-billion-yuan-financial-instrument-how-will-it-be-used?utm_source=rss_feed Fri, 17 Oct 2025 03:00:10 +0000 Mia Nurmamat,Mandy Zuo Mia Nurmamat,Mandy Zuo China is raising the maximum hiring age for some civil service positions from 35 to 43 amid rampant age discrimination in the job market that has left many older workers complaining of a “curse of 35”. The upper age limit for candidates in next year’s national-level civil service examinations has been increased to 43 for fresh master’s and doctoral graduates, according to a recruitment plan published by China’s central government and affiliated institutions on Tuesday. The age requirement for... https://www.scmp.com/economy/china-economy/article/3329072/china-bids-break-job-market-curse-35-it-raises-civil-service-age-cap?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3329072/china-bids-break-job-market-curse-35-it-raises-civil-service-age-cap?utm_source=rss_feed Wed, 15 Oct 2025 05:03:16 +0000 Luna Sun Luna Sun As China drafts its 15th five-year plan – the next entry in a line of expansive blueprints that have set the tone for the country’s development over more than seven decades – we examine how these documents inform and reflect high-level policy priorities, what to expect in the coming iteration and whether the private sector will receive the level of support entrepreneurs are hoping for. For more stories in this ongoing series, click here. To view SCMP Plus Factsheets on the 15th five-year-plan... https://www.scmp.com/economy/china-economy/article/3328026/china-planning-5-year-honeymoon-its-private-firms-will-they-feel-love?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3328026/china-planning-5-year-honeymoon-its-private-firms-will-they-feel-love?utm_source=rss_feed Mon, 06 Oct 2025 22:00:07 +0000 Carol Yang Carol Yang China should make greater efforts to boost household income over the next five years as the world’s second-largest economy looks to consumption to power future growth, a former senior official said. Yang Weimin, a former deputy head of the Office of the Central Leading Group on Financial and Economic Affairs, made the comments ahead of next month’s fourth plenum of the Communist Party’s Central Committee. Committee members will discuss the country’s next five-year plan, with the economic... https://www.scmp.com/economy/china-economy/article/3326866/boost-household-income-drive-chinas-economy-next-5-years-ex-official-urges?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3326866/boost-household-income-drive-chinas-economy-next-5-years-ex-official-urges?utm_source=rss_feed Fri, 26 Sep 2025 00:00:18 +0000 Xinyi Wu Xinyi Wu As China works to defuse its debt risks, and with unchained US borrowing rocketing skyward, Ray Dalio finds himself at the centre of an important conversation in Beijing – advising top officials as they face a delicate path ahead. Chinese officials rolled out the red carpet this week for the billionaire investor and founder of Bridgewater Associates – one of the world’s largest hedge funds – as his words of caution on the risks facing major global economies appear to be increasingly resonating... https://www.scmp.com/economy/china-economy/article/3326700/china-ray-dalio-discusses-global-debt-issues-beijing-seeks-his-counsel?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3326700/china-ray-dalio-discusses-global-debt-issues-beijing-seeks-his-counsel?utm_source=rss_feed Wed, 24 Sep 2025 11:00:10 +0000 Xinyi Wu Xinyi Wu China is making a renewed push to boost service consumption by relaxing market access and increasing supply – across sectors such as culture, sports and healthcare – as Beijing doubles down on expanding domestic demand for economic growth. The measures, which also include strengthening fiscal support and investments, were released in a 19-point set of guidelines jointly released by the Ministry of Commerce and nine other departments on Tuesday. Authorities pledged to further open up the culture... https://www.scmp.com/economy/china-economy/article/3325829/china-pulls-out-stops-get-people-spending-19-consumption-minded-measures?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3325829/china-pulls-out-stops-get-people-spending-19-consumption-minded-measures?utm_source=rss_feed Wed, 17 Sep 2025 07:04:11 +0000 Alice Li Alice Li President Xi Jinping has called for more efforts to develop a unified domestic market, arguing that it will be crucial to helping China secure an edge in international competition and meet its development goals. In an article published on Monday in Qiushi, the ruling Communist Party’s leading theoretical journal, the Chinese leader listed six key tasks, with measures to deal with excessive cutthroat competition at the forefront. Vicious price wars have broken out in several industries in recent... https://www.scmp.com/economy/china-economy/article/3325680/chinas-xi-calls-building-unified-market-secure-edge-global-race?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3325680/chinas-xi-calls-building-unified-market-secure-edge-global-race?utm_source=rss_feed Tue, 16 Sep 2025 04:30:10 +0000 Sylvia Ma Sylvia Ma China’s top economic planner has flagged a megaproject to expand shipping capacity on the Three Gorges, slated to span the coming five-year plan, while also calling for greater investment to drive strategic initiatives. In a report submitted to the Standing Committee of the National People’s Congress on Wednesday, Zheng Shanjie, chairman of the National Development and Reform Commission (NDRC), underscored the need to push major infrastructure projects such as the new shipping channel on the... https://www.scmp.com/economy/china-economy/article/3325216/china-backs-three-gorges-megaproject-investment-push-hot-heels-giant-tibet-dam?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3325216/china-backs-three-gorges-megaproject-investment-push-hot-heels-giant-tibet-dam?utm_source=rss_feed Thu, 11 Sep 2025 11:00:24 +0000 Haining Gao,Junjie Wang Haining Gao,Junjie Wang To view SCMP’s coverage of China’s 15th 5-year plan, please follow this link. https://www.scmp.com/plus/article/3325035/china-economy-ahead-15th-five-year-plan?utm_source=rss_feed https://www.scmp.com/plus/article/3325035/china-economy-ahead-15th-five-year-plan?utm_source=rss_feed Thu, 11 Sep 2025 02:36:11 +0000 Mandy Zuo Mandy Zuo A local government in China’s provincial economic powerhouse of Zhejiang has announced plans to subsidise the restaurant meals of high-value consumers, in a move that is intended to stimulate consumption but could raise questions about whether it runs contrary to the central government’s austerity drive. Shaoxing – a city known for its textile industry and a prized variety of cooking wine – will offer subsidies of up to 5,000 yuan (US$700) to banquet holders if they host five or more tables and... https://www.scmp.com/economy/china-economy/article/3324200/local-chinese-governments-stimulus-plan-entices-big-spenders-dig-while-dining-out?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3324200/local-chinese-governments-stimulus-plan-entices-big-spenders-dig-while-dining-out?utm_source=rss_feed Thu, 04 Sep 2025 00:00:14 +0000 Luna Sun Luna Sun China reported sluggish factory activity in August, as fresh US tech curbs threatened to undermine Beijing’s push into advanced manufacturing. The National Bureau of Statistics said on Sunday that the official manufacturing purchasing managers’ index (PMI) for August was 49.4, edging up from 49.3 in July. The headline reading has remained below the 50-point mark that separates expansion from contraction since April, as strains persist in the industrial sector. The non-manufacturing measure of... https://www.scmp.com/economy/china-economy/article/3323806/china-still-waiting-factory-activity-lift-us-wields-new-tech-curbs?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3323806/china-still-waiting-factory-activity-lift-us-wields-new-tech-curbs?utm_source=rss_feed Sun, 31 Aug 2025 06:44:05 +0000 Xinyi Wu Xinyi Wu When Wang Yuyan first heard about China’s new national child subsidy, she was happy about receiving some extra support. But the new mother’s excitement quickly faded when she realised the money was barely enough to cover the rising cost of baby diapers and milk formula. The Hangzhou resident said the diapers she buys for her 4-month-old had gone up from 143 yuan (US$19.90) to 158 yuan just in the few weeks since the government announced the new policy in July. Overall, Wang now spends nearly... https://www.scmp.com/economy/china-economy/article/3322814/chinas-new-child-subsidy-popular-will-it-actually-raise-birth-rate?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3322814/chinas-new-child-subsidy-popular-will-it-actually-raise-birth-rate?utm_source=rss_feed Sun, 24 Aug 2025 03:00:09 +0000 Xinyi Wu Xinyi Wu China’s youth unemployment rate rose to its highest level in 11 months in July, as a record number of graduates enter an already shaky labour market. The urban jobless rate for the 16-24 age group, excluding students, rose to 17.8 per cent last month from 14.5 per cent in June, putting an end to four straight months of decline and marking the metric’s highest level since last August, according to data released by the National Bureau of Statistics on Tuesday. The figures come as a record 12.2... https://www.scmp.com/economy/economic-indicators/article/3322347/chinas-youth-unemployment-hits-11-month-high-army-graduates-joins-job-hunt?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3322347/chinas-youth-unemployment-hits-11-month-high-army-graduates-joins-job-hunt?utm_source=rss_feed Tue, 19 Aug 2025 07:06:16 +0000 Carol Yang Carol Yang Chinese Premier Li Qiang has called for more action to boost consumption and investment, as the world’s second-largest economy strives to meet its annual growth targets despite facing growing headwinds in the second half of the year. “[We] should recognise the hard-won achievements and the strong resilience as well as dynamism of China’s economy, reinforcing confidence, while also acknowledging the risks and challenges in the economy and the complex external environment,” he told a meeting of... https://www.scmp.com/economy/china-economy/article/3322320/china-signals-bolder-policies-boost-spending-investment-headwinds-rise?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3322320/china-signals-bolder-policies-boost-spending-investment-headwinds-rise?utm_source=rss_feed Tue, 19 Aug 2025 05:00:28 +0000 Carol Yang Carol Yang A high-level Chinese official has called for easing property and other market restrictions to boost spending among the wealthy, as Beijing steps up efforts to stimulate consumption amid deflationary pressures. “Let the rich spend. This is the most direct [approach],” said Yin Yanlin, who was deputy director at the Office of the Central Financial and Economic Affairs Commission, a party organ overseeing economic policy, from 2018 to 2023. Yin, now a senior economic adviser in the Chinese People’s... https://www.scmp.com/economy/china-economy/article/3322014/china-told-remove-purchase-restrictions-set-mandatory-targets-spur-consumption?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3322014/china-told-remove-purchase-restrictions-set-mandatory-targets-spur-consumption?utm_source=rss_feed Fri, 15 Aug 2025 11:30:07 +0000 Raymond Ma,Neil Denslow Raymond Ma,Neil Denslow China’s retail sales growth unexpectedly cooled in July, leading a bevy of data releases on Friday that signalled weak domestic consumption, diminishing returns from government stimulus efforts and challenges from the US trade war. Retail expansion slowed to 3.7 per cent from 4.8 per cent in June, missing the 4.9 per cent forecast among economists polled by financial data provider Wind. Industrial output growth cooled to 5.7 per cent, the slowest since November. Fixed asset investment also eased... https://www.scmp.com/plus/article/3321948/china-retail-slowdown-trump-putin-summit-wang-yi-visits-india?utm_source=rss_feed https://www.scmp.com/plus/article/3321948/china-retail-slowdown-trump-putin-summit-wang-yi-visits-india?utm_source=rss_feed Fri, 15 Aug 2025 09:00:09 +0000 Sylvia Ma Sylvia Ma As China rolls out subsidies for personal consumer loans, covering part of the interest costs, Beijing’s latest effort to spur spending is likely to be tested by a deeply ingrained public attitude: saving. For many Chinese households, including Mary Lin, a 54-year-old primary school teacher, borrowing to spend remains unimaginable. “Except for a mortgage, I’ve never taken out a bank loan in my life,” she said. “Taking out a bank loan to spend isn’t popular for people of our generation, unless... https://www.scmp.com/economy/china-economy/article/3321850/why-debt-shy-chinese-consumers-may-snub-loan-subsidy-scheme?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3321850/why-debt-shy-chinese-consumers-may-snub-loan-subsidy-scheme?utm_source=rss_feed Thu, 14 Aug 2025 08:16:33 +0000 Alice Li Alice Li As China’s top leaders enjoy their summer retreat at the northern beach resort of Beihaihe, analysts are poring over the guest list for clues about Beijing’s priorities ahead of October’s crucial plenary meeting to agree on China’s next five-year plan. The list of invitees to the annual gathering, as reported by state media, suggests that China’s leaders are placing a heavy emphasis on science, innovation and entrepreneurship, as they seek to accelerate China’s development and application of... https://www.scmp.com/economy/china-economy/article/3321721/what-does-beidaihe-guest-list-tell-us-about-chinas-economic-priorities?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3321721/what-does-beidaihe-guest-list-tell-us-about-chinas-economic-priorities?utm_source=rss_feed Wed, 13 Aug 2025 15:00:17 +0000 Mandy Zuo Mandy Zuo Shanghai, China’s commercial centre, will launch a wide-ranging initiative to redevelop urban villages next year, marking one of its most ambitious citywide renewal campaigns yet. The project, announced at a late July meeting of the city’s legislative body as part of a three-year plan, signals a broader and more intensive push to overhaul urban villages than previous efforts. As the nation’s financial hub and most populous city, Shanghai has the second-highest housing prices in mainland China... https://www.scmp.com/economy/china-economy/article/3321463/shanghai-plans-housing-upgrade-drive-boost-consumption-investment?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3321463/shanghai-plans-housing-upgrade-drive-boost-consumption-investment?utm_source=rss_feed Mon, 11 Aug 2025 09:29:45 +0000 Luna Sun Luna Sun China recorded a surprise rebound in marriage registrations in the second quarter as a new policy making it easier for couples to tie the knot kicked in, raising hopes that the government’s efforts to mitigate the country’s demographic decline may be starting to show results. But analysts cautioned that China’s population was still shrinking and that Beijing would need to follow through with even stronger pro-natal policies to foster a sustained recovery in birth numbers. A total of 3.54 million... https://www.scmp.com/economy/china-economy/article/3320956/china-records-surprise-jump-marriages-raising-hopes-births-rebound?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3320956/china-records-surprise-jump-marriages-raising-hopes-births-rebound?utm_source=rss_feed Wed, 06 Aug 2025 11:00:14 +0000 Xinyi Wu Xinyi Wu China will waive tuition fees for children in their final year at public kindergartens from this autumn, as the country intensifies efforts to address its plummeting birth rate. The move, part of a phased plan to make preschool education free, aims to “effectively lower education costs and improve the level of basic public education services”, the State Council, China’s cabinet, said on Tuesday. Children enrolled in approved private kindergartens will also have their tuition fees reduced, with... https://www.scmp.com/economy/china-economy/article/3320954/will-free-year-preschool-entice-parents-procreate-beijing-bids-boost-births?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3320954/will-free-year-preschool-entice-parents-procreate-beijing-bids-boost-births?utm_source=rss_feed Wed, 06 Aug 2025 10:00:22 +0000 Alice Li Alice Li China’s debt relief campaign for local governments, launched last year, has delivered its first major success story after Inner Mongolia exited the central government’s high-risk list. The autonomous region was among 12 province-level jurisdictions flagged by Beijing for risky debt levels, with its exit revealed in a local budget review discussed internally in late July but only released to the public earlier this week. “[We must] consolidate the progress made in exiting the list of key... https://www.scmp.com/economy/china-economy/article/3320917/chinas-campaign-ease-local-government-debt-scores-first-big-win-inner-mongolia?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3320917/chinas-campaign-ease-local-government-debt-scores-first-big-win-inner-mongolia?utm_source=rss_feed Wed, 06 Aug 2025 06:16:04 +0000 Sylvia Ma Sylvia Ma As Beijing gathers public input on China’s next five-year plan – a mission statement for the next half-decade of economic and social policy – how best to bolster domestic consumption has emerged as a topic of considerable debate as the country seeks new avenues for growth amid a murky landscape for global trade. One point of contention among scholars and other influential thinkers is whether to set measurable consumption targets, in a similar fashion to other headline benchmarks like gross... https://www.scmp.com/economy/china-economy/article/3320819/chinas-economists-weigh-pros-and-cons-consumption-benchmarks?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3320819/chinas-economists-weigh-pros-and-cons-consumption-benchmarks?utm_source=rss_feed Wed, 06 Aug 2025 02:00:12 +0000 Carol Yang Carol Yang After a construction boom spanning nearly two decades, China’s high-speed rail (HSR) network has made record-breaking strides. But to ensure long-term sustainability, analysts said the government needs to address challenges around commercial profitability and mounting debt. The warnings came ahead of the next five-year plan, covering the years 2026-2030, in which policymakers will decide whether to take on more debt to expand the 48,000-kilometre network – already the world’s largest, surpassing... https://www.scmp.com/economy/china-economy/article/3320817/chinas-high-speed-rail-nears-50000km-milestone-debt-and-profit-concerns-mount?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3320817/chinas-high-speed-rail-nears-50000km-milestone-debt-and-profit-concerns-mount?utm_source=rss_feed Tue, 05 Aug 2025 09:00:03 +0000 Xinyi Wu Xinyi Wu Amid falling prices and stiff competition from imports, China has unveiled plans to bolster the cattle industry – the latest in a series of policies aimed at strengthening key agricultural sectors. China will step up its beef production and implement a quality-grading system for locally produced beef to promote consumption of high-quality versions of the meat – part of an effort announced by the nation’s top economic planner and nine government departments to boost consumption of farm produce. A... https://www.scmp.com/economy/china-economy/article/3320685/chinas-beef-prices-are-still-low-beijings-new-plan-aims-wrangle-consumption?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3320685/chinas-beef-prices-are-still-low-beijings-new-plan-aims-wrangle-consumption?utm_source=rss_feed Tue, 05 Aug 2025 03:00:09 +0000 Alice Li Alice Li China’s central bank confirmed on Friday that it had established a new financial stability committee to defuse the nation’s mounting debt risks, as a senior government adviser suggested that Beijing needed to inject 1 trillion yuan (US$139 billion) into the property sector to stabilise developers’ balance sheets. The suggestion by Yin Zhongli, a counsellor for China’s State Council, comes as Beijing continues to wrestle with a four-year property crisis sparked by developer Evergrande Group’s... https://www.scmp.com/economy/china-economy/article/3320691/new-committee-bailout-talk-china-launching-fresh-property-rescue-effort?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3320691/new-committee-bailout-talk-china-launching-fresh-property-rescue-effort?utm_source=rss_feed Mon, 04 Aug 2025 13:00:07 +0000 June Xia June Xia In China’s hottest new basketball league, the players are all amateurs, the mascots are a pair of live chickens riding a remote control Jeep, and the winning teams are presented with plastic bags full of fish. Welcome to the “ZheBA” – an intercity competition in China’s eastern Zhejiang province that has become a national sensation by tapping into the region’s fierce local pride and diverse culture. The contest, officially named the Zhejiang Provincial City Basketball League, features dozens of... https://www.scmp.com/economy/china-economy/article/3320442/passion-pride-and-live-pigs-inside-chinas-booming-local-basketball-league?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3320442/passion-pride-and-live-pigs-inside-chinas-booming-local-basketball-league?utm_source=rss_feed Sun, 03 Aug 2025 12:00:09 +0000 Carol Yang Carol Yang The Chinese government has pledged to tackle consumption bottlenecks with a series of support measures, including direct subsidies and efforts to raise incomes, as it seeks to bolster the domestic market amid global volatility. To stimulate household spending, Beijing will allocate 69 billion yuan (US$9.5 billion) in ultra-long special treasury bonds to its trade-in programme – which offers substantial discounts on a range of consumer goods – National Development and Reform Commission (NDRC)... https://www.scmp.com/economy/china-economy/article/3320426/china-doubles-down-consumer-subsidies-spur-household-spending?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3320426/china-doubles-down-consumer-subsidies-spur-household-spending?utm_source=rss_feed Fri, 01 Aug 2025 12:00:10 +0000