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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.
Anta has provided professional gear for 13 Chinese national teams during February’s Winter Olympics, including for freestyle skier Eileen Gu. Photo: AP
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

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China jobs

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

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.

Molten steel sparks fly at a factory in Huaian, Jiangsu province. Photo: AFP
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.

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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”.

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.

Photo: Xinhua
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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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-EU relations have suffered in recent years, but the Trump administration’s hostility towards the bloc has raised hopes for a reset. Several high-profile European leaders have headed east in recent months, though deep concerns over China’s export machine remain. Photo: Reuters
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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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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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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Canadian Prime Minister Mark Carney appears alongside President Xi Jinping at the Great Hall of the People in Beijing on January 16. Photo: Reuters
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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Richard Liu’s brand, Sea Expandary, signed a strategic framework agreement on Tuesday with the coastal cities of Shenzhen and Zhuhai in Guangdong, China’s southern powerhouse province, for a high-end yacht industrial base with planned investment of about 5 billion yuan (US$723 million), according to social media posts by the city governments. Photo: Handout
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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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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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.

The yuan has appreciated steadily in recent months. By contrast, the US dollar has remained under sustained pressure, with investor confidence sapped by persistent concerns over the Trump administration’s policy volatility and fears over long-term fiscal sustainability. Photo: Reuters
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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A humanoid robot prepares a drink at a coffee kiosk in Shenzhen on January 28. Photo: Getty Images
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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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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