TOPIC

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

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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Illustration: Lau Ka-kuen

US-China rivalry doesn’t have to be a zero-sum game: Jessica Chen Weiss

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Illustration: Victor Sanjinez

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

videocam
93
Illustration: Henry Wong

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

videocam
40
Illustration: Lau Ka-kuen

US-China rivalry doesn’t have to be a zero-sum game: Jessica Chen Weiss

videocam
29
Illustration: Victor Sanjinez
MORE FROM THIS SERIES
The Ministry of Finance says it will this year focus on building a robust domestic market through “vigorously boosting consumption”. Photo: Xinhua
China consumption

Consumer demand and public services top China’s financial priorities for 2026

National fiscal work conference ends in Beijing with pledge to spur domestic market.

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Mainland China

China broadens foreign investment list in renewed pitch for overseas capital

Yuan

China’s offshore yuan breaks major benchmark as appreciation momentum builds

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China consumption

Hard work, long hours fuelled China’s rise. Now, it weighs longer breaks

China, one of the world’s hardest-working countries, is adopting incentives to increase time off – and potentially boost consumer spending.

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Workers at the construction site for the main tower of Harbin Ice and Snow World in Harbin, China. Photo: Xinhua
China manufacturing

China’s Xi urges state giants to be pillars of national development

The president instructs central SOEs to drive industrial upgrading while securing critical technologies and supply chains in the face of geopolitical risks.

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China economy

Editorial | China’s resolve to invest in people is economic good sense

The government’s plan to invest in people as well as physical assets is aimed at improving domestic demand while aiding low-income households.

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China consumption

China vows city-specific fixes to clear housing glut, stabilise property sector

Housing minister pledges to empower local governments to buy unsold inventory and shift towards selling only finished homes with a ‘what you see is what you get’ model.

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Residential buildings are seen under construction in Fuyang, Anhui province, on December 15. Photo: Getty Images
China trade

As Germany’s trade deficit with China nears new high, analysts warn of backlash

The widening gap, fuelled by a localisation push in China and fierce EV competition, is fuelling fears of political upheaval and rising protectionist sentiment in Berlin.

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China-Russia relations

Russian LNG shipments to China surge 143% in November, overtaking Australia

Russian LNG accounted for 23.5 per cent of China’s total shipments, cementing Russia as its top energy partner after President Xi pledged deeper ties.

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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.

A worker stacks steel products meant for the export market at a factory in Binzhou, Shandong province, China on April 15. Photo: AFP
Banking & finance

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

New policy by the People’s Bank of China applies to one-off debts up to 10,000 yuan incurred since 2020, aiming to help people rebuild credit.

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The People’s Bank of China has unveiled a credit-rehabilitation policy to help individuals who defaulted on small loans rebuild their financial standing. Photo: Reuters
Hong Kong economy

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

Readers discuss takeaways from the central economic work conference, native-level English proficiency, and how to honour those lost in the Tai Po fire.

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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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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People walk past an advertisement in the shopping area of Sanlitun in Beijing. Photo: EPA-EFE
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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A woman sits on a swing attached to a giant McDonald’s logo in Beijing. Photo: Reuters
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.

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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Passengers line up to board a high-speed train at a station in central China’s Anhui province. Photo: Xinhua
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.

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 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’s retail sales, a key gauge of consumer spending, grew by only 1.3 per cent in November, year on year, falling well short of consensus expectations. Photo: Getty Images
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.

Workers assemble a flying vehicle at an expo on the low-altitude economy in Shenzhen, on September 23. Hong Kong needs to work closely with growth areas, particularly the rest of the Greater Bay Area, to help build a strong domestic market. Photo: AP
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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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.

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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President Xi Jinping (centre) speaks at the annual central economic work conference in Beijing on Thursday. Photo: Xinhua
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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President Xi Jinping speaks at this year’s central economic work conference in Beijing. Photo: Xinhua
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 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.

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