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State Council

State Council
The latest news and top stories on State Council, the highest state administrative organ and executive arm of the National People's Congress. Its primary mission involves implementing state policies, laws and managing the national economy, finances and foreign affairs. The State Council oversees various ministries and commissions, providing public services and ensuring national security.
Under new rules, individuals who sell a residential property within two years of buying it will pay VAT at 3 per cent instead of 5 per cent. Photo: Getty
China property

Beijing trims property resale tax in fresh push to stabilise housing market

Under new rules, sellers will pay just 3 per cent VAT if they offload a property within two years of purchase, down from 5 per cent.

China economy

China’s cabinet clears path for VAT law to take effect next month

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China economy

Opinion | Protection of vulnerable workers must be part of China’s AI strategy

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China's economic recovery

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's economic recovery

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’s private sector

China’s new private sector liberalisation spreads to infrastructure

Railways, nuclear reactors, oil pipelines and water networks in China are all opening up to private investors as the government seeks new ways to revive economic growth.

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China’s private sector

Explaining China’s 13 measures to promote private investment

SCMP Plus annotates State Council’s 13-point plan to promote private investment in infrastructure projects, until now the domain of the country’s state-owned enterprises.

Explaining China’s 13 measures to promote private investment
China’s private sector

From rail to nuclear power, China taps private capital to fund major projects

Beijing unveils a slew of new measures to channel private investment into infrastructure projects ranging from hydropower to oil pipelines.

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US-China trade war

China, US suspend rival port fees in latest trade war thaw

Beijing also pauses sanctions on South Korean shipbuilder affiliates, while shipping industry welcomes suspended duties.

China manufacturing

China calls for faster, wider adoption of advanced tech to strengthen industry

Locked in a tech war with the US, Beijing seeks greater commercialisation of cutting-edge technologies through large-scale application.

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Manufacturing technology in China. Photo: Shutterstock Images
Artificial intelligence

Cambricon, SenseTime team up to support China’s tech self-reliance efforts

The two companies intend to promote ‘a new indigenous AI development paradigm’.

Chip designer Cambricon Technologies has a growing suite of AI processors. Photo: CFOTO/Future Publishing via Getty Images
South China Sea

Opinion | What Scarborough nature reserve plan means for South China Sea

Done badly, it would exclude and exacerbate mistrust. Done well, it could pave the way for a model of conservation in contested waters.

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Artificial intelligence

Opinion | China is banking on AI as next driver of growth

By embedding AI across the economy and bureaucracy, Beijing aims to accelerate growth, boost productivity and sharpen governance capacity.

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China consumption

From tourism to healthcare, China unveils a 19-point plan to get people spending

Support and investment incentives unveiled for sectors such as tourism, sports, healthcare and culture, while visa-free access and school holidays could be enhanced.

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Visitors experience AI-powered traditional Chinese medicine healthcare during an industry expo in Gansu province last month. China wants to attract more foreign and private investment to fields such as mid- to high-end medical care. Photo: Xinhua
China’s private sector

China vows to ‘safeguard support’ for private investment, boost confidence

Private investment ‘key to stabilising employment and the economy’, State Council meeting chaired by Premier Li Qiang says.

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China’s private sector accounts for about 60 per cent of GDP and 80 per cent of urban jobs. Photo: NurPhoto via Getty Images
China economy

China sets off in pursuit of US$980 billion sports economy

Cabinet directive lists 20 measures to boost sports consumption in world’s second-largest economy by 2030.

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China consumption

Local Chinese government stimulus pushes big spenders to dig in while dining out

Shaoxing city authorities roll out consumption-boosting measures at a time when economic growth is critical and the central government is watching closely.

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China stock market

Mainland Chinese listed firms’ first-half profit rises 2.5% to 3 trillion yuan

Of the 5,432 A-share companies, 60 per cent saw their revenue rise in the first half, while 75 per cent made a profit, data shows.

An electronic board shows the Shanghai and Shenzhen stock indexes. Photo: Reuters
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