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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.
Tanker traffic has largely halted on the Strait of Hormuz, a narrow passage connecting the Persian Gulf to the Gulf of Oman along Iran’s southern coast. The disruption is expected to hit global crude supply. Photo: Reuters
China-Middle East relations

Why the US-Israel war with Iran leaves Asian economies exposed

Mainland China imports vast amounts of oil from the Middle East but India, South Korea and others could fare worse, analysts say.

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China energy security

Why the Iran war will accelerate China’s push to become an ‘energy powerhouse’

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China trade

China supply chain expo set to welcome more US firms, launch AI section

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Two Sessions 2026

Chinese officials, car executives may discuss capping EV output

As China’s EV industry faces slowing growth, officials may discuss capping output and boosting tech innovation to combat price wars.

Employees work on the assembly line of new energy vehicles at Zero Run’s plant in Jinhua, Zhejiang province. Photo: VCG via Getty Images
China energy security

How China is using a massive ‘electron gap’ to pivot the AI race with US

Ex-finance official Zhu Guangyao says abundant energy supply gives the nation a critical edge in AI, as ‘electricity is computing power’.

Two Sessions 2026

How China could untangle its private firms’ complex debt burdens

As private businesses grapple with cash flow challenges, entrepreneurs say they want the settling of outstanding debts to be made a priority.

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China shipbuilding

Open Questions | Top shipbuilding voice Li Yanqing rebukes Washington’s ‘China threat’ narrative

China’s national shipbuilding association official calls US port fees ‘absurd’ and politically motivated, while asserting China’s market lead is solid despite global fluctuations.

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Illustration: Victor Sanjinez
Two Sessions 2026

Opinion | Now is the time for China to show it’s serious about opening up

The ‘two sessions’ is Beijing’s chance to demonstrate reliability as nations reassess their ties with China and the US in an increasingly fragmented global order.

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Retailing

Warm winter no match: China’s sportswear sector posts surprise growth

Policy support, Chinese New Year demand and Winter Olympics exposure lift China’s sportswear makers, with Li Ning and Anta leading gains.

Belt and Road Initiative

China poised to earn vast profits from global energy transition: analysts

Chinese firms are in pole position to benefit from a wave of investment in clean energy infrastructure that could be worth trillions of US dollars.

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Workers check solar panels installed on a lake in China’s central Anhui province. Photo: AFP
China jobs

From gala spectacle to job scare: Chinese workers confront the AI threat

The country’s economy – with an expansive public sector – is better positioned to withstand AI shocks, but more government support is needed.

illustration by Lau Ka-kuen
China exports

Deals of steel: how China’s price-setting agreements are easing trade tempers

Chinese exporters agree to raise prices to avoid anti‑dumping duties, echoing earlier electric vehicle agreement with European Union.

Two Sessions 2026

China’s pivot from GDP obsession sparks cadre confusion, tests local governance

Governors and mayors must reconcile Beijing’s people-centric mandates with traditional growth targets, navigating vague appraisal changes and performance concepts.

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US-China trade war

After Trump’s tariff setback, will US firms rush to stockpile Chinese goods?

Front-loading expected but not at levels seen ahead of last year’s sweeping “Liberation Day” duties, analysts say.

China’s exports soared to record highs in 2025, but those to the US fell 20 per cent for the year, according to customs data.
Banking & finance

‘Stability risk’: US faces rising concern as global debt soars to record high

Global debt accumulation ‘accelerated sharply’ in 2025, driven by surging investment in the US, China and Europe, report finds.

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Massive investment in artificial intelligence data centres has contributed to a rapid build-up in global debt levels over the past year, according to a new report. Photo: Shutterstock
Yuan

As the yuan sizzles, China’s central bank deploys double-barrelled policy tweak

Regulators refine cross-border rules and cut the foreign exchange risk reserve ratio for forward forex sales to zero, aiming to provide stable offshore liquidity and help firms manage risks.

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Two Sessions 2026

China’s February Politburo readout

SCMP Plus annotates the official report on the February meeting of China’s top decision-making body, as leaders prepare for the annual legislative meetings known as the “two sessions”.

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Two Sessions 2026

‘Two sessions’, Trump tariffs, JD.com earnings

This week: Lawmakers ready for China’s ‘two sessions’, Trump imposes new global tariffs, Germany’s Merz meets Xi. Next week: JD.com reports earnings, toughened trade measures kick in, manufacturing PMI comes outs, Honor debuts robot, and more.

Chinese Premier Li Qiang. Photo: AP
China GDP

Chinese regions cut growth targets for 2026

Most of China’s 31 provincial-level regions have set lower economic targets for this year than for last year.

China exports

As China’s firms go global, foreign expertise is becoming a hot commodity

Chinese companies are rushing to hire a range of service contractors to help them expand overseas – from compliance experts to TikTok gurus.

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Two Sessions 2026

After years of ‘at-all-costs’ growth, China wants cadres to ditch GDP obsession

Five-month campaign seen prioritising social welfare and long-term sustainability over economic expansion, with debt, fraud and vanity projects in crosshairs.

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A child waves a Chinese flag near Tiananmen Gate in Beijing on February 19. China’s leadership is calling for local-level cadres across the country to do work that “benefits the people”. Photo: AP
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’s domestically developed Cross-border Interbank Payment System offers clearing and settlement services for cross-border yuan transactions. Illustration: Shutterstock
China-EU relations

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

A hostile Washington is creating openings for a reset – but deep-seated issues remain, analyst says.

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China travel

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

The country logged a record 596 million domestic trips over the extended holiday, but consumers are still reluctant to loosen their purse strings.

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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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A humanoid robot plays piano during a traditional music performance in Beijing on Thursday. China has elevated science and technology to the core of its national development strategy. Photo: AP
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.

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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