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China's economic recovery

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China's economic recovery
This topic charts China's economic recovery as it, in 2023, enters an era of slower growth, along with an ageing and shrinking workforce, weak consumer demand and a property market downturn.
Open Questions series

George Yeo on superpower ‘headaches’ and why the US dollar could crack

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Illustration: Lau Ka-kuen

Liu Qian on Chinese innovation, the US rivalry and women holding up half the sky

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Illustration: Victor Sanjinez Garcia

Fuchsia Dunlop tells how she fell for China’s cuisine and names her perfect dish

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Illustration: Lau Ka-kuen

80 years on from WWII, China’s interests lie in peaceful Asia-Pacific: Mitter

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Illustration: Lau Ka-kuen

‘Delusional’: Jeffrey Sachs on why Western hegemony has ended

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Illustration: Henry Wong

Scholar Jing Qian on right-sizing China’s economy in the age of Trump

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40
Illustration: Lau Ka-kuen

George Yeo on superpower ‘headaches’ and why the US dollar could crack

videocam
19
Illustration: Lau Ka-kuen

Liu Qian on Chinese innovation, the US rivalry and women holding up half the sky

7
Illustration: Victor Sanjinez Garcia

Fuchsia Dunlop tells how she fell for China’s cuisine and names her perfect dish

videocam
5
Illustration: Lau Ka-kuen

80 years on from WWII, China’s interests lie in peaceful Asia-Pacific: Mitter

videocam
18
Illustration: Lau Ka-kuen

‘Delusional’: Jeffrey Sachs on why Western hegemony has ended

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93
Illustration: Henry Wong

Scholar Jing Qian on right-sizing China’s economy in the age of Trump

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40
Illustration: Lau Ka-kuen
MORE FROM THIS SERIES
A worker stacks steel products meant for the export market at a factory in Binzhou, Shandong province, China on April 15. Photo: AFP
China economy

Opinion | Why China has moved to curb steel exports

China’s pivot to emerging markets has kept its export machine running. But frictions are growing and steel is the most visible flashpoint.

Banking & finance

China to hide bad debt records for pandemic-hit borrowers who repay small loans

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Hong Kong economy

Letters | Shenzhen-Hong Kong special zone could better serve national economy

China jobs

China’s youth-unemployment rate eases to 16.9% as graduates settle for less

Job market remains plagued by a mismatch between skills and vacancies, pushing more graduates towards blue-collar jobs or gig work.

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Applicants take part in a campus job fair at the Minhang campus of Shanghai Jiao Tong University. Photo: Xinhua
China society

Opinion | How young Chinese learned to stop worrying and love themselves

Amid disillusionment and a stagnant economy, China’s young people are taking the initiative to embrace self-compassion and treat themselves well.

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China consumption

Not lovin’ it: Chinese fume at McDonald’s prices, costlier ‘poor man’s meal’

Fast-food giant increases menu items by 0.5 to 1 yuan, testing pricing power in a deflationary market where per-capita dining spending has been plunging.

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China consumption

‘Invest in people’: how a new slogan signals a pivot in China’s economic policy

Beijing is expected to strengthen investment in welfare, pensions, education and other public services to unleash domestic demand, analysts say.

China has pledged to focus on “investing in people” in recent policy meetings, which could indicate an increase in spending on public services. Photo: Getty Images
Mainland China

China offers more support to returning overseas students as influx grows

As the number of students coming back to China soars, a new national service platform will help them find work and start businesses.

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Shenzhen

1 station, 116 million trips: Shenzhen breaks travel record as rail usage booms

Over 116 million passengers have already passed through Shenzhen’s main rail station this year, as trips from Hong Kong continue to rise.

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China economy

China’s elusive domestic demand holds key to revival of faltering economy

Getting Chinese consumers to open their wallets after property-market losses is a tough task for leaders seeking to reheat the cooling economy – it may also be the only option.

Photo: EPA
China property

China’s home prices slide further in November as authorities vow to stem decline

China’s years-long housing downturn shows no signs of easing as new home prices fell 0.4 per cent month on month on average in 70 cities.

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China’s top 100 developers sold homes worth 4.4 trillion yuan worth of homes last year. Photo: EPA
China consumption

China’s growth engines sputter as retail and investment hit in November

Retail sales grew just 1.3 per cent, with growth momentum slowing for six straight months, and January-November investment fell 2.6 per cent as the property slump persisted.

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China economy

Editorial | Hong Kong has a role to play in building a strong, unified national market

Innovative growth areas such as the Greater Bay Area can help lead China’s economic transformation in the coming year.

China economy

Opinion | China’s Politburo swaps emergency economic surgery for preventive care

Last year’s meeting focused on survival, but now the emphasis is on unlocking factors to let the domestic economy thrive.

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People walk through a shopping area in Beijing, on February 18. By breaking down local barriers, China aims to unlock the latent potential of its domestic market. Photo: EPA-EFE
China property

Shanghai retail landscape evolves with new malls, shift to experiential shopping

Hang Lung, New World and Swire are renovating and expanding their malls in Shanghai to stay relevant in a competitive environment.

Malls in Shanghai are revamping with new concepts to keep consumers interested. Photo: Reuters
Trade

Beijing digs in for trade ‘struggles’, eyes strategy of growth and resilience

Analysts see leadership’s language after central economic work conference as an admission that trade tensions are expected to endure.

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China GDP

China to keep high fiscal deficit ratio in 2026 to buoy spending plans: analysts

After central economic work conference, observers said ratio is likely to stay at this year’s record 4 per cent in line with ‘targeted’ spending.

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China economy

China’s central economic work conference: cheat sheet

SCMP Plus annotates the official readout from China’s annual economic policy gathering, where top leaders focused on efforts to boost domestic consumption amid concerns about external trade in 2026.

China’s central economic work conference: cheat sheet
China economy

China’s 2026 economic road map, Macron tariff threat, November data dump

This week: Chinese leaders prioritise domestic demand amid trade uncertainties at key year-end meeting, Mexico readies Asian tariffs, Macron threatens China levies and Trump greenlights exports of Nvidia H200 chips. Next week: November retail sales, Hainan expands duty-free shopping, China Vanke debt fight, “solar goddess” wedding and more.

China economy

China sets sights on ‘fully tapping’ domestic market potential after policy meet

Following annual central economic work conference, leaders also pledge to stabilise property sector, fight deflation and curb cutthroat competition to counter risks.

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China GDP

China can sustain 5 to 6% GDP growth through 2035: economist

Tech, talent and the Chinese system give Beijing unique advantages over other late-developing economies, top economist says.

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Economist Justin Lin Yifu has written China will be able to maintain a 5 to 6 per cent gross domestic product growth rate through 2035. Photo: AFP
China economy

China’s economy can probably ride out storms in 2026

Policymakers meeting in Beijing this week will probably see few reasons for new stimulus measures after China’s economy largely weathered the US trade war.

Photo: SOPA Images/LightRocket
China consumption

China’s consumer prices rise at fastest pace in nearly 2 years in November

Consumer price index rises by 0.7 per cent for the month, while factory-gate prices continue long decline.

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China economy

Explaining the key points from China’s Politburo December meeting

SCMP Plus annotates an official report of the monthly meeting of China’s Politburo, which focused on the economic work needed in 2026, including stepped up efforts to boost domestic demand and cope with trade ‘turbulence’.

China’s crackdowns

China warns internet platforms not to shift tax burden onto gig workers

Celebrities and high-profile influencers also under scrutiny, with regulators pursuing hundreds of such cases in recent years.

The gig workforce in China includes food delivery drivers, an industry known for its intense demands. Photo: Getty Images
China trade

Chinese minister calls for more opening-up as key planning meeting looms

Commerce Minister Wang Wentao’s remarks echo similar calls by other senior officials ahead of annual central economic work conference.

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Commerce Minister Wang Wentao has called for China to push ahead with opening-up policies over the next five years. Photo: Xinhua
China’s Communist Party

China’s Politburo pledges action to tackle trade ‘struggles’ in 2026

Analysts said the decision-making body’s phrasing on the international trade environment suggests a cautious stance next year despite US truce.

China jobs

Open Questions | Economist Huang Yiping on why China’s AI push must be ‘job-oriented’

Dean of Peking University’s National School of Development says ‘balance’ needed in AI development to protect employment, ‘human well-being’.

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