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Xiaofei Xu

Xiaofei Xu

Paris
@xiaofeixu
Reporter, Political Economy
Xiaofei joined SCMP in 2025 after four years at CNN's Paris bureau where he covered the rise of far-right forces in France, the economic fallout of the war in Ukraine and many other subjects. Xiaofei has a master's degree in French History from the University of Chicago.
Xiaofei joined SCMP in 2025 after four years at CNN's Paris bureau where he covered the rise of far-right forces in France, the economic fallout of the war in Ukraine and many other subjects. Xiaofei has a master's degree in French History from the University of Chicago.
Areas of Expertise:
French economy and politics
Languages Spoken:
Cantonese, English, French, Mandarin

China’s luxury spending seen boosting global sales in 2026 despite headwinds

Affluent Chinese consumers are expected to splurge, though a volatile property market and oil price shocks pose challenges, analysts say.

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Discussions expected to focus on trade, investment and rare earths ahead of US President Donald Trump’s visit to China later this month.

The president said China’s strongest regions should be proactive in tech transformation, hold a ‘bottom line mindset’ to resist external shocks.

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Finance minister distances himself from French government agency’s proposal for blanket EU tariffs on China to stop ‘destruction’ of local industry.

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New pact designates a new yuan clearing bank, boosts cross-listings and expands green finance, accelerating the international use of China’s currency.

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