https://www.scmp.com/rss/520775/feed Carol joined the Post in January 2025 and covers China's economy. Before this role, she worked as a news reporter for shipping media Lloyd’s List in Shanghai for two years and for China Global Television Network in Beijing for six years. She holds a master's degree in intercultural communication from the University of Warwick. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Carol Yang Carol Yang China is stepping up efforts to secure critical sea lanes and protect its overseas assets, as crises at maritime chokepoints – including the Strait of Hormuz – expose growing vulnerabilities in global trade. In response, Beijing has tasked leading industrial enterprises and academic institutions with spearheading research to safeguard strategic trade corridors and overseas port holdings, amid escalating geopolitical tensions linked to the US-Israeli war in Iran and legal disputes over Panama... https://www.scmp.com/economy/china-economy/article/3351712/china-orders-maritime-security-research-strait-hormuz-crisis-exposes-trade-risks?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3351712/china-orders-maritime-security-research-strait-hormuz-crisis-exposes-trade-risks?utm_source=rss_feed Tue, 28 Apr 2026 12:30:14 +0000 Carol Yang Carol Yang China has delivered its largest-ever liquefied natural gas (LNG) carrier, bringing the number of domestic shipyards capable of designing and building the advanced vessels to five, as the country steps up its challenge to South Korea’s dominance in the high-value sector. The milestone was marked by China Merchants Heavy Industry (Jiangsu), a subsidiary of China Merchants Group, which delivered the 180,000-cubic-metre (6.36-million cubic-feet) vessel on Sunday, according to a company press... https://www.scmp.com/economy/china-economy/article/3351546/china-delivers-record-lng-carrier-shipbuilding-rivalry-south-korea-intensifies?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3351546/china-delivers-record-lng-carrier-shipbuilding-rivalry-south-korea-intensifies?utm_source=rss_feed Mon, 27 Apr 2026 07:48:04 +0000 Carol Yang Carol Yang China’s industrial giants are rapidly scaling up the use of AI-powered robots to operate vital infrastructure, with the country’s main grid operator unveiling a blockbuster plan to deploy thousands of bots to handle a range of roles – from inspecting remote substations to performing maintenance on ultra-high-voltage power lines. The State Grid Corporation of China has earmarked 6.8 billion yuan (US$1 billion) for the procurement of embodied intelligence – or artificial intelligence-enabled... https://www.scmp.com/economy/china-economy/article/3351323/china-plans-invest-billions-robot-army-run-its-power-grid?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3351323/china-plans-invest-billions-robot-army-run-its-power-grid?utm_source=rss_feed Fri, 24 Apr 2026 11:00:13 +0000 Carol Yang Carol Yang China is embarking on a sweeping overhaul of its industrial architecture, aiming to fuse software and steel as part of a 100-trillion-yuan (US$14.7 trillion) undertaking to modernise its service sector while pushing manufacturing into the future. The State Council’s blueprint, unveiled on Tuesday, said the valuation target for the service sector was achievable by 2030 as advanced manufacturing increasingly becomes fused with specialised technical support. Analysts say Beijing’s plan will help... https://www.scmp.com/economy/china-economy/article/3351021/china-fuse-software-and-steel-us14tr-sector-fix-weak-links-worlds-factory?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3351021/china-fuse-software-and-steel-us14tr-sector-fix-weak-links-worlds-factory?utm_source=rss_feed Wed, 22 Apr 2026 11:00:15 +0000 Carol Yang Carol Yang As the US-Israel war on Iran raises global concerns about energy security, a new report has found that the clean power sector is rapidly gaining ground and emerging as a solution for nations looking to reduce their reliance on oil and gas imports. The world passed a significant turning point in 2025 as clean power generation rose faster than global demand for electricity, preventing an increase in fossil fuel generation, according to the study by London-based energy think tank Ember released on... https://www.scmp.com/economy/global-economy/article/3350759/turning-point-clean-energy-met-100-worlds-new-power-needs-2025-report?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3350759/turning-point-clean-energy-met-100-worlds-new-power-needs-2025-report?utm_source=rss_feed Mon, 20 Apr 2026 23:01:07 +0000 Carol Yang Carol Yang To sharpen its competitive edge in the world’s next-generation vehicle market, China has pledged to fast track automotive technical standards to build its status as a global rule-setter. The carmaking powerhouse would drive high-quality development of the auto sector through the formulation and enhancement of core standards during the next five years, officials from the Ministry of Industry and Information Technology (MIIT) told state broadcaster China Central Television (CCTV) in Beijing on... https://www.scmp.com/economy/china-economy/article/3350467/chinese-ministry-focuses-car-standards-put-industry-global-driving-seat?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3350467/chinese-ministry-focuses-car-standards-put-industry-global-driving-seat?utm_source=rss_feed Fri, 17 Apr 2026 10:30:09 +0000 Carol Yang Carol Yang Amid heightening global anxieties over energy security fuelled by the escalating conflict in the Middle East, China’s top energy regulator has pledged to accelerate the development of its hydrogen industry, hailing the fuel as a “strategic lever” to fortify national energy resilience. The National Energy Administration (NEA) called for “bold innovation” in the sector during a recent meeting reviewing the progress of hydrogen pilots and outlining future tasks, according to an official readout... https://www.scmp.com/economy/china-economy/article/3350313/china-fast-tracks-hydrogen-strategy-scale-phase-high-stakes-energy-transition?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3350313/china-fast-tracks-hydrogen-strategy-scale-phase-high-stakes-energy-transition?utm_source=rss_feed Thu, 16 Apr 2026 10:00:21 +0000 Carol Yang Carol Yang Though high-level officials in Washington have accused China of undermining global energy security by “hoarding” oil during the US-Israeli war on Iran, import and inventory data suggest Beijing is facing its own supply pressures as the conflict drags on. US Treasury Secretary Scott Bessent on Tuesday labelled China an “unreliable global partner,” alleging that Beijing has prioritised stockpiling crude over easing global shortages triggered by the war, according to a Reuters report. He also... https://www.scmp.com/economy/global-economy/article/3350180/us-officials-claim-china-hoarding-oil-what-does-data-say?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3350180/us-officials-claim-china-hoarding-oil-what-does-data-say?utm_source=rss_feed Wed, 15 Apr 2026 13:30:09 +0000 Carol Yang Carol Yang A leading sovereign wealth fund from Central Asia has cast a vote of confidence in Chinese debt and the country’s currency by becoming the first institution from the region to sell yuan-denominated debt, known as panda bonds, in China’s onshore market. The decision by Kazakhstan’s sovereign wealth fund, Samruk-Kazyna, to sell 3 billion yuan (US$440 million) in China’s interbank market comes as global investors are looking for safe havens amid geopolitical uncertainties such as the Iran war. The... https://www.scmp.com/economy/china-economy/article/3350040/kazakh-sovereign-fund-issues-central-asias-first-panda-bond-milestone-sale?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3350040/kazakh-sovereign-fund-issues-central-asias-first-panda-bond-milestone-sale?utm_source=rss_feed Tue, 14 Apr 2026 10:00:24 +0000 Carol Yang Carol Yang China has launched a national action plan to embed AI across its education system, in a strategic push to future-proof its workforce amid intensifying global competition in advanced technologies. The “AI+ Education” action plan, unveiled by the Ministry of Education and four other ministerial-level bodies, mandates the integration of artificial intelligence at every stage of learning – from primary schools to lifelong education. The initiative builds on China’s long-term education plan to the... https://www.scmp.com/tech/policy/article/3349832/amid-fierce-global-competition-china-launches-national-plan-boost-ai-education?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3349832/amid-fierce-global-competition-china-launches-national-plan-boost-ai-education?utm_source=rss_feed Mon, 13 Apr 2026 02:57:32 +0000 Carol Yang Carol Yang Beijing has promised to restore direct flights between the Chinese mainland and Taiwan following a visit by the leader of the main opposition party. The 10-point measures, which also include a pledge to ease restrictions on individuals travelling to the island, were announced on Sunday as Kuomintang chairwoman Cheng Li-wun concluded her visit to the mainland. Her trip, which began on Tuesday, included a meeting with Xi Jinping – the first between the leaders of the Communist Party and KMT in... https://www.scmp.com/news/china/politics/article/3349782/beijing-pledges-better-taiwan-air-and-travel-links-after-kmt-leaders-mainland-china-trip?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3349782/beijing-pledges-better-taiwan-air-and-travel-links-after-kmt-leaders-mainland-china-trip?utm_source=rss_feed Sun, 12 Apr 2026 07:07:49 +0000 Carol Yang Carol Yang China’s green energy transition is expanding from a domestic security priority into a potent geopolitical asset at a time of heightened global uncertainty, according to the latest official reading of the country’s 15th five-year plan. That shift has been tested in recent weeks by the US-Israeli war in Iran and Tehran’s effective closure of the Strait of Hormuz – a chokepoint for 20 per cent of global oil and gas supplies. While Tehran signalled it would reopen the strait on Tuesday under a... https://www.scmp.com/economy/china-economy/article/3349646/why-chinas-green-energy-strategy-may-shield-it-iran-war-oil-shock?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3349646/why-chinas-green-energy-strategy-may-shield-it-iran-war-oil-shock?utm_source=rss_feed Fri, 10 Apr 2026 12:00:09 +0000 Carol Yang Carol Yang Global efforts to diversify energy sources are set to accelerate as the US-Israel conflict with Iran inflicts an unprecedented disruption on global supplies, analysts said, even as Washington and Tehran reportedly negotiate a reopening of the Strait of Hormuz. While the two sides have agreed to a two-week ceasefire, they remain at odds over details of reopening the strategic waterway. Despite the promised pause in hostilities, the conflict has already dealt a massive blow to international energy... https://www.scmp.com/economy/global-economy/article/3349391/global-pivot-renewables-seen-accelerating-hormuz-uncertainty-upends-energy-security?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3349391/global-pivot-renewables-seen-accelerating-hormuz-uncertainty-upends-energy-security?utm_source=rss_feed Thu, 09 Apr 2026 02:00:11 +0000 Carol Yang Carol Yang China is expanding its agricultural trade with Ukraine with further opening of its wheat flour market, a move that underscores its pragmatism and balanced diplomacy as it also increases energy imports from Russia. On Monday, China’s ambassador to Ukraine, Ma Shengkun, signed a protocol with Ukrainian officials regarding inspection, quarantine and sanitary requirements for the export of Ukrainian wheat flour to China, the embassy in Kyiv said in a social media post . The agreement would broaden... https://www.scmp.com/economy/china-economy/article/3349256/beyond-russian-oil-china-also-increases-appetite-ukrainian-wheat-flour?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3349256/beyond-russian-oil-china-also-increases-appetite-ukrainian-wheat-flour?utm_source=rss_feed Tue, 07 Apr 2026 10:00:12 +0000 Carol Yang Carol Yang The US government has unveiled an AI export initiative designed to cement American technological leadership while countering China’s growing influence in the sector. Washington is inviting US companies to form “preset” consortiums to offer full-stack artificial intelligence solutions around the world. Applications will be accepted until the end of June, the International Trade Administration (ITA), an agency under the US Department of Commerce, said in a news release issued on Wednesday. The... https://www.scmp.com/economy/china-economy/article/3348951/washington-launches-export-initiative-ensure-future-ai-led-united-states?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3348951/washington-launches-export-initiative-ensure-future-ai-led-united-states?utm_source=rss_feed Fri, 03 Apr 2026 11:00:19 +0000 Carol Yang Carol Yang Lawmakers in the United States have urged the administration of US President Donald Trump to take action against China’s alleged sanctioned oil imports by blacklisting port operators and blocking complex settlement networks. Despite Washington’s temporary easing of sanctions on Russian and Iranian oil to relieve price pressures from the US-Israeli war in Iran, the “House Select Committee on Strategic Competition between the United States and the Chinese Communist Party” has released a 41-page... https://www.scmp.com/economy/china-economy/article/3348668/us-house-committee-calls-major-crackdown-chinas-alleged-sanctioned-oil-imports?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3348668/us-house-committee-calls-major-crackdown-chinas-alleged-sanctioned-oil-imports?utm_source=rss_feed Wed, 01 Apr 2026 09:10:31 +0000 Mandy Zuo,Carol Yang Mandy Zuo,Carol Yang As global energy supplies are put under strain by Iranian disruption to shipping through the Strait of Hormuz, state-owned Chinese oil giant PetroChina has said its overall operations remain stable because most of its imports do not pass through the strait. However, the company’s investment operations in the Middle East had been “impacted to varying degrees”, as crude oil and natural gas imported through the strait accounted for about 10 per cent of its total operating volume, PetroChina... https://www.scmp.com/economy/china-economy/article/3348534/3-chinese-ships-exit-strait-hormuz-petrochina-stresses-operations-stable?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3348534/3-chinese-ships-exit-strait-hormuz-petrochina-stresses-operations-stable?utm_source=rss_feed Tue, 31 Mar 2026 11:00:12 +0000 Carol Yang Carol Yang The threat to employment posed by artificial intelligence was not a “robot apocalypse” that would steal jobs, but “algorithmic collusion” that could quietly erode wages and workplace safety, Ekkehard Ernst, the International Labour Organization’s chief macroeconomist, warned in Beijing on Tuesday. While public anxiety frequently centred on the potential for AI to trigger a mass wave of unemployment, Ernst said its disruptive potential had been overestimated. “I don’t think that we are anywhere... https://www.scmp.com/economy/china-economy/article/3348124/ai-collusion-forcing-down-wages-bigger-threat-job-stealing-robots-ilo-economist?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3348124/ai-collusion-forcing-down-wages-bigger-threat-job-stealing-robots-ilo-economist?utm_source=rss_feed Sat, 28 Mar 2026 11:00:10 +0000 Carol Yang Carol Yang Beyond oil, the Middle East conflict is fuelling fears of a shortage of helium – a by-product of liquefied natural gas (LNG) production that is critical for semiconductors, aerospace applications and high-end medical equipment. The medical sector is on alert, as magnetic resonance imaging machines depend on liquid helium to cool their superconducting magnets, and a supply crunch could jeopardise diagnostic services. A warning from Marc Johnson, a virologist and professor at the University of... https://www.scmp.com/economy/china-economy/article/3348153/semiconductors-medical-tech-iran-war-puts-helium-users-edge?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3348153/semiconductors-medical-tech-iran-war-puts-helium-users-edge?utm_source=rss_feed Fri, 27 Mar 2026 10:00:12 +0000 Mia Nurmamat,Carol Yang Mia Nurmamat,Carol Yang The second Chinese-owned liquefied petroleum gas (LPG) carrier has transited the Strait of Hormuz since the outbreak of the US-Israeli war with Iran, according to industry sources and vessel-tracking data, amid conflicting claims over access to the vital trade corridor. Tehran has largely blocked the strategic waterway in retaliation for Washington and Tel Aviv’s strikes, causing widespread disruption to global shipping – though Iranian officials have recently promised safe passage for vessels... https://www.scmp.com/economy/global-economy/article/3347860/china-owned-vessel-secures-rare-strait-hormuz-transit-iran-war-grinds?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3347860/china-owned-vessel-secures-rare-strait-hormuz-transit-iran-war-grinds?utm_source=rss_feed Wed, 25 Mar 2026 09:00:35 +0000 Carol Yang Carol Yang Surging oil prices driven by the US-Israel war on Iran could accelerate the global adoption of electric vehicles – a sector that helped China overtake Japan to become the world’s largest seller of automobiles last year. “The closure of the Strait of Hormuz could be a game-changer for EVs,” said David Brown, director of energy transition research at Wood Mackenzie, in a report released on Friday. The “eye-watering” 50 per cent surge in global oil prices so far this month would further incentivise... https://www.scmp.com/economy/china-economy/article/3347583/why-iran-war-could-be-game-changer-evs-and-chinas-car-industry?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347583/why-iran-war-could-be-game-changer-evs-and-chinas-car-industry?utm_source=rss_feed Tue, 24 Mar 2026 01:00:16 +0000 Carol Yang Carol Yang Global concerns are rising over the fate of ships and crews trapped in the Strait of Hormuz amid the intensifying Middle East conflict, as reports spread that Iran is rolling out screening processes and steep transit fees for vessels using the waterway. The International Maritime Organisation (IMO) called for the establishment of a “safe maritime framework” to ensure the swift evacuation of merchant ships confined within the Persian Gulf, after holding a special session on the Middle East... https://www.scmp.com/economy/china-economy/article/3347337/strait-hormuz-tensions-flare-iran-tightens-grip-over-shipping-traffic?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347337/strait-hormuz-tensions-flare-iran-tightens-grip-over-shipping-traffic?utm_source=rss_feed Fri, 20 Mar 2026 11:00:24 +0000 Carol Yang Carol Yang As the US-Israel war on Iran strains global energy supplies, Japan is discussing reviving domestic production of liquefied natural gas carriers for the first time in more than half a decade to bolster its national security. The move would see Japanese shipbuilders return to a market that is currently dominated by China and South Korea, as Tokyo looks to revitalise its maritime sector and shore up its energy security. Japan’s shipbuilding working group – comprising industry experts and government... https://www.scmp.com/economy/global-economy/article/3347180/not-easy-japan-mulls-building-its-own-lng-carriers-amid-iran-energy-crisis?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3347180/not-easy-japan-mulls-building-its-own-lng-carriers-amid-iran-energy-crisis?utm_source=rss_feed Fri, 20 Mar 2026 05:00:09 +0000 Carol Yang Carol Yang China’s central bank named the continued stability of the country’s capital markets as a priority for 2026, a goal taking on greater significance as global markets are tested by the reverberations of the escalating US-Israel war on Iran. The People’s Bank of China designated the stability of stock, bond and foreign exchange markets as one of its “major tasks” for the year, according to a readout from a high-level meeting hosted by bank governor Pan Gongsheng on Wednesday. The bank also vowed to... https://www.scmp.com/economy/china-economy/article/3347187/chinas-central-bank-pledges-stability-capital-markets-amid-global-sell?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347187/chinas-central-bank-pledges-stability-capital-markets-amid-global-sell?utm_source=rss_feed Thu, 19 Mar 2026 13:30:09 +0000 Carol Yang Carol Yang Saudi Arabia is activating its Red Sea “Plan B” to divert crude via the port of Yanbu, allowing tankers – including Chinese very large crude carriers (VLCCs) – to bypass the Strait of Hormuz, though analysts warn the route has limited capacity. The move comes after Iran effectively closed the strait in response to United States and Israeli military strikes, a conflict now in its third week that has rattled global energy markets. New Vista, a VLCC owned by China Merchants Energy Shipping, had... https://www.scmp.com/economy/global-economy/article/3347045/red-sea-fix-china-bound-oil-tankers-tap-saudi-plan-bypass-strait-hormuz?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3347045/red-sea-fix-china-bound-oil-tankers-tap-saudi-plan-bypass-strait-hormuz?utm_source=rss_feed Wed, 18 Mar 2026 14:00:08 +0000 Carol Yang Carol Yang As heightened conflict in the Middle East disrupts global shipping, China and Russia are considering deeper cooperation on logistics – including use of the Arctic shipping route – to secure a more resilient supply chain. At the inaugural China-Russia Logistics Business Forum held in Moscow on Monday, officials and business leaders discussed bolstering transport and infrastructure ties, calling such cooperation essential as geopolitical tensions reshape global supply chains, Chinese state news... https://www.scmp.com/economy/china-economy/article/3346894/china-russia-discuss-boosting-transport-links-middle-east-conflict-disrupts-shipping?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3346894/china-russia-discuss-boosting-transport-links-middle-east-conflict-disrupts-shipping?utm_source=rss_feed Tue, 17 Mar 2026 14:00:14 +0000 Carol Yang Carol Yang Beijing has increased its inspections on Panama-flagged vessels entering Chinese ports, a source from the shipping industry said, an action intended to raise the Latin American country’s stress level after its courts voided the operating rights of Hong Kong-based conglomerate CK Hutchison in the Panama Canal. Port state control (PSC) – the inspection regime countries may deploy to verify the compliance of foreign ships with various international standards – was being used as a form of leverage... https://www.scmp.com/economy/global-economy/article/3346767/papers-please-china-raises-pressure-panama-amid-canal-row-ship-inspection-wave?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3346767/papers-please-china-raises-pressure-panama-amid-canal-row-ship-inspection-wave?utm_source=rss_feed Mon, 16 Mar 2026 11:30:08 +0000 Mia Nurmamat,Carol Yang Mia Nurmamat,Carol Yang Maritime tracking data showed that no ships passed through the Strait of Hormuz on Saturday, marking the first full day without any confirmed commercial traffic in either direction since February 28, when the US and Israel began military strikes on Iran. Crossings dropped to zero, below the previous seven-day average of 2.57 daily transits, according to maritime analytics firm Windward. Although no vessels entered the waterway that day, about 400 ships sailed in the Gulf of Oman on Friday, it... https://www.scmp.com/economy/global-economy/article/3346755/no-ships-cross-strait-hormuz-first-time-conflict-began-data-shows?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3346755/no-ships-cross-strait-hormuz-first-time-conflict-began-data-shows?utm_source=rss_feed Mon, 16 Mar 2026 09:30:14 +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 Carol Yang Carol Yang China’s central bank has called for heightened cybersecurity awareness and caution in the use of artificial intelligence in the financial sector, adding to a chorus of warnings over security risks amid the nationwide buzz surrounding the OpenClaw AI agent. At its annual technology conference in Beijing on Wednesday, the People’s Bank of China called for further efforts to “enhance the resilience of cybersecurity and data security”, according to a readout of the meeting posted on its website. The... https://www.scmp.com/tech/tech-trends/article/3346352/amid-openclaw-frenzy-chinas-central-bank-adds-cybersecurity-warnings?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3346352/amid-openclaw-frenzy-chinas-central-bank-adds-cybersecurity-warnings?utm_source=rss_feed Thu, 12 Mar 2026 10:00:15 +0000 Carol Yang Carol Yang India has relaxed curbs on Chinese investments in certain sectors to attract more foreign capital, as Beijing and New Delhi continue to gradually repair their economic relationship after years of tense relations. In a cabinet statement released on Tuesday, New Delhi introduced a fast-track approval mechanism for investments from land-bordering countries – including China. The move amends a previous restriction that had mandated government scrutiny for all such capital inflows. Under the new... https://www.scmp.com/economy/china-economy/article/3346213/india-opens-door-more-chinese-investment-after-6-year-freeze?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3346213/india-opens-door-more-chinese-investment-after-6-year-freeze?utm_source=rss_feed Wed, 11 Mar 2026 08:34:17 +0000 Carol Yang Carol Yang US President Donald Trump says the war on Iran may not last much longer. But across Asia, government actions are racing to shield themselves from the fallout – revealing a region gripped by anxiety that an energy shock could revive the spectre of stagflation. Under mounting economic pressure and record oil market volatility, Trump said on Monday that the US-Israeli war on Iran could be over “very soon”, though not within the coming week. The most exposed Asian economies – including South Korea... https://www.scmp.com/economy/global-economy/article/3346129/us-israeli-war-iran-threatens-global-energy-how-asia-preparing?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3346129/us-israeli-war-iran-threatens-global-energy-how-asia-preparing?utm_source=rss_feed Wed, 11 Mar 2026 02:00:14 +0000 Carol Yang Carol Yang China’s Ministry of Transport has summoned two maritime giants – Maersk and Mediterranean Shipping Company (MSC) – for talks on “international shipping operations” amid legal disputes over the Panama Canal, a vital artery for global trade. No further details were provided in the one-sentence statement, which was posted on the ministry’s website on Tuesday. But in China, government summons often serve as a warning and, if ignored, could lead to further action. The move came as mounting... https://www.scmp.com/economy/china-economy/article/3346074/china-summons-maersk-msc-shipping-operations-amid-panama-saga-iran-war-shock?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3346074/china-summons-maersk-msc-shipping-operations-amid-panama-saga-iran-war-shock?utm_source=rss_feed Tue, 10 Mar 2026 07:00:18 +0000 Carol Yang Carol Yang Against the backdrop of oil prices surging past US$100 per barrel for the first time since the onset of the Russia-Ukraine war in 2022, China has its sights set on strengthening energy security by stabilising domestic crude production and strategic backups – exemplified by coal-to-oil and gas projects – for the next few years. The nation pledges to maintain annual crude production at 200 million tonnes, ensure a steady rise in natural gas output, and bolster technical readiness for coal-derived... https://www.scmp.com/economy/global-economy/article/3345995/china-vows-stabilise-oil-and-gas-output-new-5-year-plan-global-risks-mount?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3345995/china-vows-stabilise-oil-and-gas-output-new-5-year-plan-global-risks-mount?utm_source=rss_feed Mon, 09 Mar 2026 14:30:07 +0000 Sylvia Ma,Carol Yang Sylvia Ma,Carol Yang Beijing has pledged to expand imports and use its vast market to help other countries boost exports to the world’s second-largest economy – a move that could help balance global trade at a time when China’s export machine faces growing scrutiny. Beijing also planned to diversify markets and nurture new trade drivers such as artificial intelligence, seeking to stabilise trade as global supply chains come under mounting pressure from geopolitical conflicts, officials said. Commerce Minister Wang... https://www.scmp.com/economy/china-economy/article/3345772/beijing-vows-expand-imports-amid-china-shock-fears?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345772/beijing-vows-expand-imports-amid-china-shock-fears?utm_source=rss_feed Fri, 06 Mar 2026 14:10:26 +0000 Carol Yang Carol Yang As the United States grapples with mounting debt, China is doubling down on efforts to clean up its own balance sheet, vowing to tackle risks with “iron discipline”. The pledge came as the world’s second-largest economy weathers a years-long real estate slump and cooling domestic demand. Beijing faces growing pressure to balance short-term growth targets with longer-term deleveraging, as it seeks to transition to a more sustainable economy. In the government work report delivered on Thursday to... https://www.scmp.com/economy/china-economy/article/3345587/china-pledges-iron-discipline-tackle-debt-risks-us-borrowing-under-trump-surges?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345587/china-pledges-iron-discipline-tackle-debt-risks-us-borrowing-under-trump-surges?utm_source=rss_feed Thu, 05 Mar 2026 11:00:11 +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 Carol Yang Carol Yang Major shipping lines are suspending services and diverting vessels across the Middle East as escalating military tensions threaten a prolonged disruption of global supply chains, with the critical Strait of Hormuz chokepoint effectively closed to commercial traffic following US-Israeli strikes on Iran. The crisis has ensnared both oil tankers and container ships, creating a maritime bottleneck that could ripple through international commerce. As of Monday, 132 container ships with a combined... https://www.scmp.com/economy/global-economy/article/3345291/shipping-firms-suspend-gulf-routes-iran-war-leaves-132-vessels-trapped?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3345291/shipping-firms-suspend-gulf-routes-iran-war-leaves-132-vessels-trapped?utm_source=rss_feed Wed, 04 Mar 2026 02:00:09 +0000 Carol Yang Carol Yang More major US companies are set to join Beijing’s premier supply chain expo this summer, including its first artificial intelligence (AI) section, as business ties between the two superpowers enter a state of fragile stabilisation. A fresh wave of leading United States enterprises, alongside prominent figures from American academia and politics, will attend the China International Supply Chain Expo in Beijing in June, its organiser, the China Council for the Promotion of International Trade,... https://www.scmp.com/economy/china-economy/article/3345131/china-supply-chain-expo-set-welcome-more-us-firms-june-launch-ai-section?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345131/china-supply-chain-expo-set-welcome-more-us-firms-june-launch-ai-section?utm_source=rss_feed Mon, 02 Mar 2026 09:00:59 +0000 Carol Yang Carol Yang Li Yanqing, executive vice-president and secretary general of the China Association of the National Shipbuilding Industry (Cansi), discusses the impact of US trade policies, global market cycles and China’s strategic pivot towards high-quality manufacturing. As a shipbuilding veteran who also serves as chairman of the ISO/TC 8 ships and marine technology committee, which oversees international standardisation for shipbuilding and marine operations, Li is a prominent voice for China’s industry on... https://www.scmp.com/plus/economy/global-economy/article/3345071/us-shipbuilding-revival-looks-dead-water-chinas-li-yanqing-says?utm_source=rss_feed https://www.scmp.com/plus/economy/global-economy/article/3345071/us-shipbuilding-revival-looks-dead-water-chinas-li-yanqing-says?utm_source=rss_feed Mon, 02 Mar 2026 03:15:11 +0000 Carol Yang Carol Yang Li Yanqing, executive vice-president and secretary general of the China Association of the National Shipbuilding Industry (Cansi), discusses the impact of US trade policies, global market cycles and China’s strategic pivot towards high-quality manufacturing. As a shipbuilding veteran who also serves as chairman of the ISO/TC 8 ships and marine technology committee, which oversees international standardisation for shipbuilding and marine operations, Li is a prominent voice for China’s industry on... https://www.scmp.com/economy/global-economy/article/3345013/top-china-shipbuilding-voice-li-yanqing-why-us-industry-cant-be-rebuilt-overnight?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3345013/top-china-shipbuilding-voice-li-yanqing-why-us-industry-cant-be-rebuilt-overnight?utm_source=rss_feed Sun, 01 Mar 2026 22:00:14 +0000 Carol Yang Carol Yang The US and Israeli attacks on Iran are expected to result in widespread disruptions to global shipping, with reports that Tehran has closed the Strait of Hormuz to traffic. The strait is the gateway to the Persian Gulf and the world’s biggest energy choke point, handling roughly one-third of all seaborne crude oil. German shipping giant Hapag-Lloyd said on Sunday it was suspending all transits through the strait. “Due to the conflict in the Middle East and the official closure of the Strait of... https://www.scmp.com/economy/global-economy/article/3345008/us-iran-strikes-global-shipping-braces-shock-strait-hormuz-closure?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3345008/us-iran-strikes-global-shipping-braces-shock-strait-hormuz-closure?utm_source=rss_feed Sun, 01 Mar 2026 09:00:14 +0000 Carol Yang Carol Yang China and South Korea have resolved a trade dispute over hot-rolled steel coils through a price-undertaking deal, mirroring the solution used in China’s electric vehicle (EV) stand-off with the European Union. Analysts say the deal, which will see exporters raise export prices to avoid anti‑dumping duties, could avert punitive tariffs and safeguard market access for Chinese exports. The China Iron and Steel Association said in a statement issued on Thursday night that it “welcomed and supported”... https://www.scmp.com/economy/china-economy/article/3344898/evs-steel-how-chinas-price-setting-deals-are-easing-trade-tensions?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3344898/evs-steel-how-chinas-price-setting-deals-are-easing-trade-tensions?utm_source=rss_feed Sat, 28 Feb 2026 08:00:09 +0000 Carol Yang Carol Yang China’s leadership has stressed the need for a more proactive macroeconomic stance to support the country’s new five-year plan, ahead of next week’s annual “two sessions” – one of the country’s most important political events. Chaired by President Xi Jinping, the Politburo – a major decision-making body of the ruling Communist Party – met on Friday and set a decisive tone for policy direction, highlighting the need to expand domestic demand and strengthen new growth drivers. In an official... https://www.scmp.com/economy/china-economy/article/3344917/chinas-politburo-signals-decisive-macroeconomic-direction-ahead-two-sessions?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3344917/chinas-politburo-signals-decisive-macroeconomic-direction-ahead-two-sessions?utm_source=rss_feed Fri, 27 Feb 2026 12:30:14 +0000 Carol Yang Carol Yang Having electrified its highways, China is mobilising its shipbuilding prowess and battery giants such as CATL to overhaul some shipping fleets, betting that the revolution in green transport can float as well as it drives. The shift towards clean energy underscores Beijing’s broader decarbonisation commitment – vowing to peak carbon emissions by 2030 and achieve neutrality by 2060. These goals have spurred substantial strides in renewable capacity installation, end-use revamps, new technology... https://www.scmp.com/economy/china-economy/article/3344150/china-amps-electric-ships-push-decarbonise-waterways-leverage-ev-prowess?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3344150/china-amps-electric-ships-push-decarbonise-waterways-leverage-ev-prowess?utm_source=rss_feed Sun, 22 Feb 2026 08:00:15 +0000 Carol Yang Carol Yang China has expanded its list of domestic systemically important banks (D-SIBs) – institutions subject to tighter regulatory standards – as authorities step up macroprudential oversight to safeguard financial stability amid high exposure to property sector debt. China Zheshang Bank, a joint-stock lender in east China’s Zhejiang province with total assets of 3.35 trillion yuan (US$485 billion), was added to the list released on Friday by the People’s Bank of China and the National Financial... https://www.scmp.com/economy/china-economy/article/3343580/china-expands-oversight-major-banks-amid-property-sector-risks?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3343580/china-expands-oversight-major-banks-amid-property-sector-risks?utm_source=rss_feed Sun, 15 Feb 2026 09:00:08 +0000 Carol Yang Carol Yang The global frenzy around embodied intelligence is still in its infancy and could ultimately surpass the impact of the mobile internet, according to the founder of Chinese robotics pioneer Unitree Robotics. Wang Xingxing, the company’s CEO, told state broadcaster CCTV in an interview scheduled to air on Saturday that the sector remained in a “climbing phase” rather than nearing a peak. He said a definitive breakthrough in large-scale artificial intelligence models for robotics could trigger a... https://www.scmp.com/tech/article/3343476/unitree-bets-embodied-ai-leap-will-drive-next-wave-global-investment?utm_source=rss_feed https://www.scmp.com/tech/article/3343476/unitree-bets-embodied-ai-leap-will-drive-next-wave-global-investment?utm_source=rss_feed Fri, 13 Feb 2026 12:00:08 +0000 Carol Yang Carol Yang Beijing has for the first time revealed the intricate composition of China’s consumer price index (CPI) basket, and a fresh recalibration sees it shift more weight towards services and new types of consumption goods. The basket adjustment itself, conducted every five years, comes as the Chinese leadership seeks to steer the world’s second-largest economy out of deflationary pressure while avoiding a prolonged Japan-style spiralling of prices. The National Bureau of Statistics (NBS) has... https://www.scmp.com/economy/china-economy/article/3343465/china-overhauls-consumer-price-basket-never-seen-unveiling-its-composition?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3343465/china-overhauls-consumer-price-basket-never-seen-unveiling-its-composition?utm_source=rss_feed Fri, 13 Feb 2026 10:00:14 +0000 Carol Yang Carol Yang Beijing has issued a central directive to dismantle the administrative walls dividing China’s electricity sector, signalling a decisive shift towards a unified national power market designed to support the country’s energy security and green transition. A decade into its power-sector overhaul, China is doubling down on market unity during the just-started 15th five-year planning period. These structural shifts are widely seen as indispensable to the nation’s 2030 carbon-peak target, as the... https://www.scmp.com/economy/china-economy/article/3343329/china-dismantle-local-power-protectionism-push-electrify-national-grid?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3343329/china-dismantle-local-power-protectionism-push-electrify-national-grid?utm_source=rss_feed Thu, 12 Feb 2026 12:30:14 +0000