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US-China trade war
illustration by Lau Ka-kuen
US-China trade war

‘They’re afraid’: Chinese firms in Vietnam face closure if US tariffs return

Many factories have already cancelled orders and scrapped expansion plans despite the US pausing its ‘reciprocal’ duties for 90 days.

US-China trade war

Small US businesses seek relief from Trump tariffs, calling them crippling

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US-China trade war

First blood? Trump’s trade war starts to bite as China’s cargo shipments slump

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SCMP Highlights

China watches divided White House, gold demand up: SCMP daily highlights

From a shock to China’s finance sector to the C919 jet missing out on a coveted certification, here’s a round-up from today’s coverage.

Gold prices have shot up and are expected to remain high as US President Donald Trump’s trade policies shake international markets. Photo: Shutterstock
Gold prices have shot up and are expected to remain high as US President Donald Trump’s trade policies shake international markets. Photo: Shutterstock
Banking & finance

Gold demand up, price tipped to stay high as Trump tariffs fuel anxiety

First-quarter demand up 1 per cent to 1,206 tonnes as World Gold Council highlights uncertainty premiums associated with US assets.

China's economic recovery

How will new law help protect China’s private sector?

Full text of legislation gives more weight to addressing long-standing complaints about cross-regional enforcement.

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China airliners

China’s C919 stuck on tarmac in Europe as certification timeline extended

European regulator says approval for the C919 could take three to six years, dashing hopes China’s jet would pass inspection in 2025.

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China’s home-grown C919 jet is facing a longer timeline for European certification than previously anticipated. Photo: Nora Tam
China’s home-grown C919 jet is facing a longer timeline for European certification than previously anticipated. Photo: Nora Tam
Electric & new energy vehicles

Global carmakers ‘go local’ in China to claw back EV market share

More than a dozen new EV models from foreign giants at Auto Shanghai feature the latest Chinese technologies in battery, digital cockpit and self-driving.

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US-China trade war

Business lobby group urges lowering of tariff ‘temperature’ to save US jobs

US-China Business Council says ‘precipitous decline’ in bilateral trade could destabilise US economy.

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Hong Kong stock market

Worst in 50 years: Trump gets ‘F’ in 100-day report card for markets

The Dow and the S&P 500 plunged in first 100 days of Trump’s second term, while US dollar weakened against yen and Swiss franc, data says.

US President Donald Trump in the Oval Office on Tuesday, April 22, 2025. Photo: AP.
China’s Communist Party

Stay alert to external forces, Xi Jinping says as China embarks on 5-year planning

Xi highlights need to keep eye on global developments as the country sets its next development goals.

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China’s economic powerhouses need to keep a close watch on global conditions as they draft their plans for the next five years, Chinese President Xi Jinping says. Photo: Xinhua
China’s economic powerhouses need to keep a close watch on global conditions as they draft their plans for the next five years, Chinese President Xi Jinping says. Photo: Xinhua
US-China trade war

How are tariff increases affecting restaurants in US and China?

American steaks off the menu in Beijing, as prices of Chinese ingredients in US rise ‘across the board’.

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Alibaba

Alibaba uses food delivery network to upgrade Taobao on-demand delivery

Food delivery service Ele.me is handling orders for Taobao Instant Commerce as e-commerce giants compete on speed.

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China travel

Chinese flight bookings to US in summer decline amid tariff war

Cancellations of flights from China to the US in June have been outnumbering new bookings, according to China Trading Desk CEO.

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Passenger numbers on China-US flights have been declining. Photo: AFP
US-China trade war

Chinese traders in world’s largest wholesale market adjust to fewer US buyers

A growing global base of customers is helping vendors in Yiwu city mitigate the fallout from a tariff war with the United States as uncertainties take toll.

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A vendor sleeps at the Yiwu International Trade Market in eastern China’s Zhejiang province while waiting for customers. Photo: Wency Chen
A vendor sleeps at the Yiwu International Trade Market in eastern China’s Zhejiang province while waiting for customers. Photo: Wency Chen
US-China trade war

Trump hails tariffs – achievement list from administration barely mentions them

In a 90-minute speech in Michigan, Trump justifies ‘China tariffs’ as an effort to curb ‘the greatest job theft in the world’.

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China manufacturing

China’s factory activity contracts as tariffs darken trade landscape

China’s purchasing managers’ index for April comes in at 49, falling short of expectations as US tariffs begin to bite.

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China’s private sector

China passes private sector law, addressing gripes of beleaguered businesses

The highly anticipated law aims to inject dynamism into China’s private sector amid a trade war with the United States.

China has passed a highly anticipated new law to promote the private sector, in a move that is aimed at boosting the morale of private companies. Photo: Xinhua
China has passed a highly anticipated new law to promote the private sector, in a move that is aimed at boosting the morale of private companies. Photo: Xinhua
US-China relations

Amazon scraps plan to list tariff costs after Trump official calls it ‘hostile’

E-commerce giant says plan ‘never approved’ following White House complaint; Senate confirms David Perdue as US ambassador to China.

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US-China trade war

China calls Boeing ‘victim’ of White House tariff policy as jets return to US

US aircraft manufacturer receives implicit olive branch from China’s Ministry of Commerce as spokesperson laments severing of normal business ties.

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Biomedicine: Companies

Chinese biotech giant sees strong US revenue despite trade tensions

The company, which has been targeted by Washington, saw US revenue jump 28 per cent in the first quarter, compared with 21 per cent globally.

WuXi AppTec’s demand in the US remains strong despite the trade war, first-quarter earnings show. Photo: Shutterstock
US-China trade war

China’s Xi dials up tech push, Global South solidarity as US tariff war deepens

Choice of Shanghai as first stop since trade war worsened underlines commitment to boosting core advantages to tackle external pressures.

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President Xi Jinping visits an industrial estate for AI start-ups as part of his inspection trip to Shanghai on Tuesday. Photo: Xinhua
President Xi Jinping visits an industrial estate for AI start-ups as part of his inspection trip to Shanghai on Tuesday. Photo: Xinhua
US-China trade war

Hollywood faces defining moment in China as Disney prepares new releases

Beijing appears to be holding off on a drastic curb of American film imports – for now, at least – as US-China tensions simmer, analysts said.

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US-China trade war

US, China seen cutting tariffs this year, but much damage already done: analysts

Unless tariff-related uncertainty is resolved quickly, a ‘sharp, synchronous slowdown’ is possible, Morgan Stanley warns.

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China GDP

Shenzhen lags China in GDP, exports as tech hub preps for tariff wave

The southern metropolis failed to beat the national average, even as exporters locked in early orders to get ahead of US tariffs.

Shenzhen’s first-quarter GDP and export figures fell behind those of China as a whole, a worrying sign as US tariffs begin to take effect. Photo: Reuters
China Future Tech
HIGHLIGHTS FROM
China Future Tech

Big Tech

Elon Musk teases Grok 3.5 hours after Alibaba’s Qwen3 generates buzz

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Elon Musk said the latest version of xAI’s Grok model can answer technical questions about rocket engines and electrochemistry. Photo: Reuters

Business

Shanghai start-up United InnoMed plans studies to develop heart-failure treatment device

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Employees produce ventilators at Mindray Bio-Medical Electronics, a medical device manufacturer based in Shenzhen. Photo: Xinhua

Big Tech

Ant Group showcases its top AI researchers in bid to woo talent in tight market

The Ant Group logo is seen on its building in Hangzhou. Photo: Shutterstock Images

Big Tech

DeepSeek’s new maths-solving model is generating buzz, but mostly about R2

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A quiet update to a specialised maths AI model has fuelled speculation about when DeepSeek will release its next-generation reasoning model. Photo: TNS

Policy

The SMC: what to see at the Shanghai AI incubator visited by Xi Jinping

An AI sign at the Shanghai Foundation Model Innovation Centre. Photo: Wency Chen
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