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China economy

China economy
Breaking news and analysis on China’s economy, including its opening up, the US-China trade war, the impact of tariffs and trade talks, growth rates and other key economic data, the Belt and Road Initiative, and Greater Bay Area plan.
China’s domestically developed Cross-border Interbank Payment System offers clearing and settlement services for cross-border yuan transactions. Illustration: Shutterstock
Banking & finance

China adviser sees bright future for yuan payment system in emerging economies

Former ICBC chairman Chen Siqing says alternatives needed due to risk of financial weaponisation in US dollar-centric world.

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China-EU relations

China-EU trade ties are at a crossroads. Could tech bridge the divide?

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China travel

Why China’s travellers spent little, despite rise in Chinese New Year trips

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China-Germany relations

Merz’s China tightrope: German leader has warm words, hard questions for Beijing

German chancellor strikes diplomatic tone in Beijing meetings while pushing his hosts on subsidies, currency devaluation and Russia.

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German Chancellor Friedrich Merz and Chinese President Xi Jinping in Beijing on Wednesday. Photo: AP
China technology

China’s tech surge leaves Japan and South Korea trailing in global rankings

Propelled by strategic R&D, China’s tech prowess is now the third highest, with key sectors such as batteries and biotech showing big gains over rivals.

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Mainland China

China’s copper crash: from investment fad to scrap in a month

A brief speculative frenzy amid skyrocketing gold and silver prices leaves some retail investors holding shiny kilogram bars they can’t sell.

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US-China trade war

US to keep China tariffs steady ahead of key Trump-Xi meeting: Greer

Trade envoy confirms levies on Chinese goods to remain within range of 35 per cent to 50 per cent depending on the product as tensions ease.

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US Trade Representative Jamieson Greer has confirmed that the Trump administration will keep tariffs on China at their current level. Photo: Reuters
China trade

Trump’s USMCA exit threat seen pushing Canada into China’s arms

Analysts expect Ottawa to diversify trade as future of North American trade pact remains uncertain, while a US departure would ‘hit Canada like an earthquake’.

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China manufacturing

A boat in every dock? Chinese billionaire unveils plan for mass yacht production

JD.com founder Richard Liu has launched a nautical brand with a massive investment in yacht production, aiming to make ownership affordable.

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China consumption

IMF urges China to focus on consumption-led rebalancing, curb industrial policy

Global monetary body calls on Beijing to roll out more forceful fiscal stimulus to bolster domestic demand amid record trade surplus.

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Customers check out at a duty-free store during the Spring Festival holiday in Haikou in Hainan province, as the IMF issues an urgent recommendation to China. Photo: Xinhua
Mainland China

Opinion | How ‘little giants’ help China defend its manufacturing dominance

Support for ‘little giants’ and other specialised SMEs remains a vital part of the long-term strategy to bolster China’s global manufacturing.

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A robot by ‘little giant’ tech firm Unitree Robotics dancing at the TechShare booth during the International Robot Exhibition 2025 (iREX2025) in Tokyo, Japan, on December 3. Photo: EPA
Yuan

China’s yuan strengthens to near 3-year high as US dollar uncertainty grows

The offshore currency continues to appreciate, with official fixing also hitting its strongest level since May 2023.

China technology

Shenzhen dethrones Shanghai, Beijing as China’s top industrial powerhouse: mayor

Leading in R&D density, AI innovation and start-up cultivation, Shenzhen is building a full-stack AI ecosystem, according to the mayor’s annual work report.

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US-China trade war

US warns of deep distrust even as officials seek stable China ties for summit

Congressional hearings reflect bipartisan concern and highlight persistent advanced tech market tension as key Trump-Xi summit looms.

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The Trump administration wants stable relations with China but does not trust the country, a senior State Department ⁠official said. Photo: Reuters
China-EU relations

EU too slow to act as China rewrites global trade rules, trade chief Sefcovic warns

Commissioner calls for faster trade probes and WTO reform as Brussels confronts overcapacity, subsidies and a US$424 billion deficit.

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Maros Sefcovic said Brussels is reviewing trade defence tools and monitoring imports of Chinese plug-in hybrid vehicles. Photo: AFP
Banking & finance

Why China’s rise as a ‘financial superpower’ could depend on Hong Kong

From the yuan’s growth as a global currency to IPO funding to tokenisation, the city is a linchpin in Beijing’s ambitions.

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China energy security

How China’s 5-year energy plan could change the way it powers its economy

Beijing will prioritise energy security through large-scale projects and greater regional self-reliance, as risks mount at home and overseas.

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China consumption

Ne Zha 2 hangover? China’s Lunar New Year box office plunges to 6-year low

China’s holiday box office fell nearly 40 per cent year on year as studios failed to find a breakout hit to match last year’s Ne Zha 2.

People line up to enter a cinema in north China’s Tianjin. Photo: Xinhua
China consumption

China’s weak consumption gets Lunar New Year boost

An 8.6 per cent increase in Lunar New Year spending is a rare bright spot in Chinese efforts to bolster domestic demand.

China food security

Explaining China’s 2026 rural blueprint

SCMP Plus annotates the No 1 document released by the Communist Party’s Central Committee and State Council setting out key rural policies for the year.

China travel

Chinese tourism to Japan plunges 50% over Lunar New Year as Thailand cashes in

Thailand was the top destination for China’s outbound travellers over the extended holiday, with tourists avoiding Japan amid rising tensions.

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A lion dance troupe performs for tourists in Bangkok’s Chinatown during the Lunar New Year holiday. Thailand was the most popular destination for China’s outbound travellers during the holiday. Photo: EPA
China trade

US-Indonesia deal threatens China’s ‘entrenched position’ in nickel market: analysts

A new deal gives America unrestricted access to Indonesia’s nickel – and challenges China’s ‘preferential’ position in the market, analysts say.

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A worker conducts a tapping process at a nickel processing plant in Sorowako, Indonesia. A new US-Indonesia trade deal could complicate China’s position in the Indonesian nickel industry. Photo: EPA
China-Japan relations

China adds Japanese entities to export control list, turning up heat on Tokyo

Beijing has also added 20 Japanese firms and institutions to a watch list for the export of goods with potential military applications.

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US-China relations

US tariff ruling points to steadier US–China ties before April summit: analysts

Court decision lowers effective duties, easing tensions and steering Xi-Trump talks towards stability rather than escalation.

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US-China trade war

What next for China’s export machine after top US court blocks Trump’s tariffs?

The high-stakes meeting between Trump and Xi may determine whether current reprieve gives way to a more durable trade deal, analyst says.

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By invalidating duties imposed under emergency presidential powers, the US Supreme Court ruling removes a powerful tool the White House had used to pressure Beijing, potentially weakening Washington’s bargaining position. Photo: Shutterstock
China consumption

Boom or bust? China’s Lunar New Year spending data is in – here is what we know

Initial figures show record travel, shifting spending patterns and a weak box office.

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Customers choose mobile phones at a consumer electronics store in Zaozhuang, east China’s Shandong province, on Saturday. Local authorities rolled out a series of stimulus programmes and policies to help boost consumer spending during the holiday. Photo: Xinhua
Electric & new energy vehicles

Low-cost models dominate China EV sales, surpassing Tesla and BYD

Geely’s and Wuling’s sub-100,000 yuan battery EVs ranked first and second in mainland China last year, each selling over 400,000 units.

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US-China trade war

Critical minerals rivalry expands to copper, silver

The US and China are intensifying efforts to secure copper and silver supply chains amid surging industrial demand which has driven up prices of the metals, delivering big returns for investors in 2025.

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