https://www-scmp-com.libproxy1.nus.edu.sg/rss/328461/feed The latest breaking economy news, budgets, spending, retail and stocks. en https://assets-v2.i-scmp.com/production/static/img/icons/scmp-meta-1200x630.png https://www-scmp-com.libproxy1.nus.edu.sg Mandy Zuo Mandy Zuo As China enters autumn, a dark, furry-clawed crustacean – no larger than a human palm – becomes one of the most sought-after delicacies in the country. Chinese hairy crabs, a national obsession traditionally raised in the freshwater lakes of the Yangtze River Delta, are now being farmed on a stretch of salt-affected alkaline wasteland in the northwest province of Shaanxi. The area along Yellow River floodplains is unsuitable for conventional crops, but farmers have transformed over 600 hectares... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3372471/hairy-crabs-soybeans-china-looks-vast-salt-affected-wastelands-agriculture https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3372471/hairy-crabs-soybeans-china-looks-vast-salt-affected-wastelands-agriculture Wed, 28 Oct 2026 15:00:08 +0000 Xiaofei Xu Xiaofei Xu China’s vice-minister of finance, Liao Min, has been appointed as the next deputy managing director of the International Monetary Fund (IMF), according to an announcement by the organisation on Wednesday. Liao will take over from Li Bo, a former deputy governor of the People’s Bank of China, whose term expires at the end of November. It remains unclear whether Liao will leave his position in the Chinese government before taking on the role in Washington. China’s vice-minister of finance since... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3372481/imf-appoints-chinese-finance-vice-minister-liao-min-next-deputy-managing-director https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3372481/imf-appoints-chinese-finance-vice-minister-liao-min-next-deputy-managing-director Wed, 28 Oct 2026 14:55:30 +0000 Sherry Wang Sherry Wang China’s Yangtze River Delta grew faster than the national economy in the first three quarters of the year, accounting for about a quarter of national output – a performance analysts said would help lay the foundation for Beijing to meet its annual national growth target. But they also cautioned that exports and hi-tech manufacturing alone could not sustain longer-term growth without a recovery in sluggish domestic demand. The combined gross domestic product of Shanghai, Jiangsu, Zhejiang and... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3372451/how-chinas-yangtze-river-delta-helping-keep-beijings-gdp-target-track https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3372451/how-chinas-yangtze-river-delta-helping-keep-beijings-gdp-target-track Wed, 28 Oct 2026 10:30:08 +0000 Frank Chen Frank Chen The wide gulf in average annual wages between China’s private and non-private sectors continued to expand in 2025, while regional disparities also remained stark, with Tibet continuing to outshine some coastal provinces in income levels. The findings, based on the latest data released by the National Bureau of Statistics this week, underscore the yawning sectoral and regional divides in the world’s second-largest economy. Workers in China’s non-private sector – including government and... https://www-scmp-com.libproxy1.nus.edu.sg/economy/economic-indicators/article/3372438/chinas-private-sector-wages-waver-gap-widens-non-private-firms https://www-scmp-com.libproxy1.nus.edu.sg/economy/economic-indicators/article/3372438/chinas-private-sector-wages-waver-gap-widens-non-private-firms Wed, 28 Oct 2026 10:00:18 +0000 Chong Ming Lee Chong Ming Lee For three decades, Lao Gan Ma’s glass jars, bearing the stern portrait of founder Tao Huabi, have been a fixture on Chinese dinner tables and a symbol of traditional food manufacturing. This week, however, the iconic chilli sauce has become an unlikely focus of public anxiety over artificial intelligence. Online rumours that the Guizhou-based company had replaced hundreds of factory workers with AI went viral, prompting boycott threats and highlighting growing public unease over the impact of... https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-trends/article/3372414/how-lao-gan-ma-chinas-iconic-chilli-brand-got-caught-ai-storm https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-trends/article/3372414/how-lao-gan-ma-chinas-iconic-chilli-brand-got-caught-ai-storm Wed, 28 Oct 2026 08:00:12 +0000 Emma Ma Emma Ma Against a backdrop of geopolitical strains in the Middle East, the Yulan renminbi bond structure has made its debut in Dubai, garnering strong investor interest with its order book more than five times oversubscribed, as global investor appetite for yuan assets remains firm. Bank of China Dubai rang the listing bell at Nasdaq Dubai on Tuesday for its offshore bond, issued under the Yulan structure. Priced at 2 billion yuan (US$299.6 million) with a two-year tenor, the deal tightened 50 basis... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3372411/yulan-bond-debuts-dubai-amid-beijings-yuan-denominated-asset-push https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3372411/yulan-bond-debuts-dubai-amid-beijings-yuan-denominated-asset-push Wed, 28 Oct 2026 07:07:07 +0000 Emma Ma Emma Ma A booming semiconductor industry is helping drive a surge in trade in Xian, one of China’s ancient capitals, making it the country’s top performer by trade growth among provincial capitals and provincial-level cities for which data is publicly available. The capital of western China’s Shaanxi province recorded a 115.5 per cent year-on-year surge in trade during the first nine months of 2026. Exports far outpaced imports, climbing 142.1 per cent. Two product categories drove much of that export... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3372316/how-chinas-ancient-capital-staked-claim-nations-fastest-export-growth https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3372316/how-chinas-ancient-capital-staked-claim-nations-fastest-export-growth Wed, 28 Oct 2026 01:00:08 +0000 Frank Chen Frank Chen China’s energy security, now buttressed by internal resilience, has withstood a difficult test from the protracted war in the Middle East, says the head of a global energy industry body. “China has domestic production, it has developed a diversification policy and there is also the possibility to switch around different types of energy,” Andrea Stegher, president of the International Gas Union (IGU), told the South China Morning Post on Tuesday. Stegher said the world’s second-largest economy... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3372333/chinas-energy-supply-chain-withstanding-test-middle-east-war-expert-says https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3372333/chinas-energy-supply-chain-withstanding-test-middle-east-war-expert-says Tue, 27 Oct 2026 14:00:21 +0000 Xiaofei Xu Xiaofei Xu A former high-ranking official with China’s securities regulator was sentenced to death with a two-year reprieve on Tuesday over bribery charges, as Beijing continues its sweeping anti-corruption campaign. Wang Huimin, who served as a member of the Communist Party committee of the China Securities Regulatory Commission (CSRC) from 2014 to 2019, was found to have taken more than 436 million yuan (US$65 million) in bribes. “The amount involved was especially large and caused especially heavy... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3372339/china-hands-former-regulator-suspended-death-sentence-over-us65m-bribery-charge https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3372339/china-hands-former-regulator-suspended-death-sentence-over-us65m-bribery-charge Tue, 27 Oct 2026 13:35:34 +0000 Mandy Zuo Mandy Zuo ByteDance founder Zhang Yiming has reclaimed the title of China’s richest person with a nearly US$100 billion fortune, as artificial intelligence powers a surge in wealth among China’s top entrepreneurs, according to the Hurun Research Institute. The 43-year-old Zhang, who topped the ranking in 2024, saw his wealth rise 43 per cent to US$99.7 billion – a record for China’s richest individual – as TikTok owner ByteDance aggressively expanded into AI, according to the 28th edition of the Hurun... https://www-scmp-com.libproxy1.nus.edu.sg/economy/article/3372302/bytedances-zhang-yiming-tops-china-rich-list-us997-billion-ai-fuels-fortunes https://www-scmp-com.libproxy1.nus.edu.sg/economy/article/3372302/bytedances-zhang-yiming-tops-china-rich-list-us997-billion-ai-fuels-fortunes Tue, 27 Oct 2026 11:00:11 +0000 Sylvia Ma,Xiaofei Xu Sylvia Ma,Xiaofei Xu French football superstar Kylian Mbappe has issued an apology after an “ill-judged” comment about China sparked intense backlash on social media and led a string of major Chinese brands to cut ties with him. After a video began circulating widely online that appeared to show the France and Real Madrid striker making a controversial remark about former Chinese leader Mao Zedong, several Chinese firms including the dairy giant Mengniu announced they were pulling out of deals with him on... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3372298/football-star-kylian-mbappe-faces-huge-china-backlash-over-unacceptable-remark https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3372298/football-star-kylian-mbappe-faces-huge-china-backlash-over-unacceptable-remark Tue, 27 Oct 2026 10:00:17 +0000 Brian Rhoads,Raymond Ma Brian Rhoads,Raymond Ma China plans new measures against foreign entities that infringe on local trade secrets, a boost to its legal defences in a technology race with the United States. New rules will cover any infringement that harms or “poses a real threat to China’s national sovereignty, security and developmental interests”, according to proposals released by the commerce ministry on Monday. The window for public comment is open until November 24. The draft rules toughen China’s intellectual property protection by... https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/policy/article/3372290/china-boost-protection-trade-secrets-against-foreign-entities https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/policy/article/3372290/china-boost-protection-trade-secrets-against-foreign-entities Tue, 27 Oct 2026 09:07:08 +0000 Mia Nurmamat Mia Nurmamat Several Chinese universities will soon begin paying salaries in digital yuan, marking Beijing’s latest push to broaden adoption of the state-backed currency and integrate it more deeply into the country’s financial system. The finance departments of several universities in Jiangsu province, an economic powerhouse in eastern China, announced on their official websites that they would pay salaries in digital yuan, known as e-CNY, from November. They cited preliminary instructions from the... https://www-scmp-com.libproxy1.nus.edu.sg/economy/article/3372260/beijing-pushes-digital-yuan-adoption-e-cny-payments-university-salaries https://www-scmp-com.libproxy1.nus.edu.sg/economy/article/3372260/beijing-pushes-digital-yuan-adoption-e-cny-payments-university-salaries Tue, 27 Oct 2026 06:03:05 +0000 Mandy Zuo Mandy Zuo Guangdong, China’s largest regional economy, remained the country’s baby-making powerhouse last year, accounting for roughly one in every eight newborns nationwide even as the overall population declined, according to the latest official demographic breakdown. The northeast continued to record the country’s steepest population drop – with a natural population decline of up to seven per 1,000 people – while parts of central and western China also saw significant demographic deterioration, data... https://www-scmp-com.libproxy1.nus.edu.sg/economy/policy/article/3372180/why-guangdong-accounts-one-eight-chinas-newborns-births-fall-nationwide https://www-scmp-com.libproxy1.nus.edu.sg/economy/policy/article/3372180/why-guangdong-accounts-one-eight-chinas-newborns-births-fall-nationwide Tue, 27 Oct 2026 01:00:05 +0000 Agence France-Presse Agence France-Presse The European Union will from Sunday slap a €2 (US$2.25) handling fee on packages from outside the 27-nation bloc in a bid to curb the influx from China. The new levy – coming just weeks before the Black Friday, Cyber Monday and Christmas season shopping rushes – will be on top of the EU’s €3 fee on small parcels. The fee will apply to each type of item in a package sent directly to consumers from outside the EU regardless of the parcel’s value. For example, if there are 10 T-shirts in a package,... https://www-scmp-com.libproxy1.nus.edu.sg/news/world/europe/article/3372219/new-levy-non-eu-parcels-kicks-sunday-bid-curb-influx-china https://www-scmp-com.libproxy1.nus.edu.sg/news/world/europe/article/3372219/new-levy-non-eu-parcels-kicks-sunday-bid-curb-influx-china Mon, 26 Oct 2026 20:39:47 +0000 Sylvia Ma Sylvia Ma While the eyes of the world are fixed both on this week’s US Federal Reserve’s policy meeting and the trajectory of American inflation, observers of the Chinese economy are closely tracking a different metric: the producer price index (PPI). For the world’s manufacturing powerhouse, factory-gate prices have long served as a key barometer of the country’s economic health, and early signs of a recent rebound have raised questions about whether it is a solid, sustainable recovery or a mere flash in... https://www-scmp-com.libproxy1.nus.edu.sg/economy/economic-indicators/article/3372179/factory-gate-prices-are-key-barometer-china-latest-rebound-true-recovery https://www-scmp-com.libproxy1.nus.edu.sg/economy/economic-indicators/article/3372179/factory-gate-prices-are-key-barometer-china-latest-rebound-true-recovery Mon, 26 Oct 2026 14:00:08 +0000 Emma Ma Emma Ma Local tax bureaus across China are continuing to step up oversight following the expiration of the country’s grace period for the reporting of offshore trusts last Thursday, part of an ongoing push to spur voluntary tax disclosures. Municipal tax authorities in Beijing published notices for 21 individuals on the official website last Thursday – the expiry date of the 90-day grace period – ordering them to submit tax documentation linked to offshore trusts. The notices, issued to “tighten tax... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3372178/chinas-tax-offices-issue-disclosure-orders-offshore-asset-grace-period-ends https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3372178/chinas-tax-offices-issue-disclosure-orders-offshore-asset-grace-period-ends Mon, 26 Oct 2026 13:30:07 +0000 Alice Li Alice Li China and Brazil are expected to sustain close economic ties following the re-election of Luiz Inacio Lula da Silva as president, though his push to strengthen domestic industry and production could complicate the outlook for Chinese companies operating in Latin America’s largest economy, analysts said. Lula defeated right-wing challenger Flavio Bolsonaro in Sunday’s run-off election, securing a fourth, non-consecutive term. Following his victory, Lula told reporters and allies at a hotel in Sao... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3372187/brazil-draws-record-chinese-investment-could-lulas-industrial-strategy-complicate-ties https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3372187/brazil-draws-record-chinese-investment-could-lulas-industrial-strategy-complicate-ties Mon, 26 Oct 2026 13:00:08 +0000 Frank Chen Frank Chen Chinese airlines plan to add 288 domestic routes for the 2026-27 winter-spring travel season, with tropical Hainan and ski destinations in Xinjiang popular among travellers. International flights to some countries are also set to surge by 40 per cent. Most of the new domestic routes will connect coastal cities with tourist hotspots in central and western China, according to figures from the Civil Aviation Administration of China (CAAC). The new flight season began on Sunday and runs until March... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3372172/chinas-airlines-are-adding-288-domestic-routes-can-sectors-recovery-keep https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3372172/chinas-airlines-are-adding-288-domestic-routes-can-sectors-recovery-keep Mon, 26 Oct 2026 11:30:13 +0000 Sylvia Ma,Xiaofei Xu Sylvia Ma,Xiaofei Xu China has drafted special rules to protect the country’s trade secrets and is seeking public feedback on the proposed strictures, the Ministry of Commerce said on Monday. In the draft document, the ministry said the rules apply “where a foreign entity engages in acts infringing upon Chinese trade secrets in the course of international economic, trade and related activities” and those acts endanger or pose a real threat to “China’s national sovereignty, security and development interests”. Under... https://www-scmp-com.libproxy1.nus.edu.sg/economy/policy/article/3372161/china-drafts-rules-protect-trade-secrets-foreign-entities https://www-scmp-com.libproxy1.nus.edu.sg/economy/policy/article/3372161/china-drafts-rules-protect-trade-secrets-foreign-entities Mon, 26 Oct 2026 08:28:14 +0000 He Huifeng He Huifeng From drone lasers to lightweight exoskeletons, Chinese manufacturers used the country’s biggest trade fair to showcase a new wave of hi-tech, and sometimes quirky, hardware to global buyers this week. The vast range of next-generation devices – often on offer at surprisingly affordable prices – is the product of a relentless innovation drive under way in China, as firms plough funds into research and development to cope with intense competition at home and rising trade barriers overseas. The R&D... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371954/exoskeletons-anyone-china-showcases-next-gen-technology-annual-trade-fair https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371954/exoskeletons-anyone-china-showcases-next-gen-technology-annual-trade-fair Mon, 26 Oct 2026 03:00:12 +0000 He Huifeng He Huifeng For Guangzhou resident Claire Kou, this autumn brought a welcome surprise: “hairy crab freedom”, the ability to enjoy the beloved Chinese delicacy without worrying about its traditionally high price tag. During the National Day holiday earlier this month, Kou ordered four female hairy crabs, each weighing about 100 grams (3.5 ounces), via an online grocery platform for just 70 yuan (US$10.5). Female crabs are often considered desirable because they carry a lot of bright reddish-orange roe,... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371598/hairy-crab-freedom-chinese-delicacys-price-tag-drops-amid-high-output-weakened-demand https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371598/hairy-crab-freedom-chinese-delicacys-price-tag-drops-amid-high-output-weakened-demand Sun, 25 Oct 2026 07:00:09 +0000 Xinyi Wu Xinyi Wu Accounting undergraduate student Wang Guilin faces a choice in her search for a winter internship: compete with thousands of applicants through standard recruitment channels or fork out thousands of yuan for a guaranteed placement. Wang considers her academic record average and, to improve her employment prospects after graduation, the second-year student hopes to add experience at a well-known company to her résumé. Yet even internships have become difficult to secure in China’s crowded... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371957/chinas-tough-job-market-anxious-students-spend-thousands-internships https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371957/chinas-tough-job-market-anxious-students-spend-thousands-internships Sun, 25 Oct 2026 03:00:15 +0000 Daniel Ren Daniel Ren A Chinese developer behind one of Sri Lanka’s biggest projects has reason to celebrate as a luxury property boom lifts sentiment in the South Asian nation and fuels optimism about the market’s prospects. Analysts, however, cautioned that a string of disappointing Chinese overseas property investments over the past decade underlined the risks of speculative excess that could lead to a boom-to-bust scenario, particularly in a country where regulation remained uneven. “Chinese developers, having... https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3371938/sri-lankas-property-boom-gives-chinese-developers-hope-familiar-risks-linger https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3371938/sri-lankas-property-boom-gives-chinese-developers-hope-familiar-risks-linger Sun, 25 Oct 2026 01:00:11 +0000 Xiaofei Xu Xiaofei Xu Protests across France were largely peaceful on Saturday, despite heightened tensions and sporadic clashes between protesters and the police, but authorities remained on high alert as night fell. The French Interior Ministry counted 410,000 people who hit the streets across the country on Saturday, down from the 550,000 who protested last weekend. The October 17 demonstrations descended into looting and the worst urban rioting France had seen in years. A total of 249 protests took place in... https://www-scmp-com.libproxy1.nus.edu.sg/news/china/diplomacy/article/3372031/france-high-alert-paris-march-begins-uneasy-calm https://www-scmp-com.libproxy1.nus.edu.sg/news/china/diplomacy/article/3372031/france-high-alert-paris-march-begins-uneasy-calm Sat, 24 Oct 2026 13:17:24 +0000 Xiaofei Xu Xiaofei Xu France is bracing for another day of mass protests on Saturday, with the government promising that 70,000 police and gendarmes will be deployed across the country amid fears that last weekend’s scenes of violence and looting could repeat themselves. For many Chinese students living in Paris, the events last Saturday were their first taste of a major French protest turned violent. While most said the experience had not put them off staying in France, many said they worried about the country’s... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3371981/chinese-students-paris-hunker-down-city-braces-more-mass-protests https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3371981/chinese-students-paris-hunker-down-city-braces-more-mass-protests Sat, 24 Oct 2026 08:00:13 +0000 Emma Ma Emma Ma China is facing a surge in credit card delinquencies from a seemingly unlikely source: middle-aged borrowers who otherwise look like model citizens, with university educations and secure public-sector jobs. Chinese banks once rushed to lend to this group, confident they would easily be able to pay their bills. But defaults are now rising so quickly amid an economic slowdown that lenders are ramping up efforts to dispose of their non-performing loan portfolios. The past quarter saw a roughly 50... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371943/credit-card-defaults-surge-across-china-older-borrowers-struggle-repay-debt https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371943/credit-card-defaults-surge-across-china-older-borrowers-struggle-repay-debt Sat, 24 Oct 2026 06:00:17 +0000 Frank Chen Frank Chen China is becoming more confident and ambitious, the Asia-Pacific Economic Cooperation (Apec) executive director said, as the forum returns to the country for the third time in a quarter-century. Eduardo Pedrosa, the executive director of the Apec Secretariat, told the SCMP on Thursday that the forum would crucially bring together people and businesses from across the globe, though he noted that the limelight on meetings between Chinese President Xi Jinping and US President Donald Trump. “There... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371919/not-g2-world-apec-chief-how-forum-has-changed-through-years https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371919/not-g2-world-apec-chief-how-forum-has-changed-through-years Sat, 24 Oct 2026 02:00:13 +0000 Sylvia Ma Sylvia Ma China and Europe should jointly introduce a system like the Carbon Border Adjustment Mechanism (CBAM), a levy on carbon-intensive imports designed to account for the carbon costs domestic producers face, which “applies against the rest of the world,” the co-chair of a global energy transition organisation says. “The biggest single thing which I would love China to do is to say, ‘We want to join with Europe in a climate club’,” said Adair Turner, co-chair of the Energy Transitions Commission,... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371917/china-europe-should-coordinate-carbon-pricing-border-tax-energy-transition-expert https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371917/china-europe-should-coordinate-carbon-pricing-border-tax-energy-transition-expert Fri, 23 Oct 2026 12:30:15 +0000 Alex Lo Alex Lo Beijing has told Brussels not to “fantasise” that pressure will extract concessions. This came after China made a goodwill gesture in the recent hybrid-car trade deal. The European Union responded by doubling down on a proposed trade “kill switch”. The instrument follows a Franco-German proposal. It would let the bloc swiftly restrict single-market access in response to economic coercion. EU chief Ursula von der Leyen says all 27 leaders back it. Chemicals and machinery are priority sectors.... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/china-opinion/article/3371752/eu-its-own-worst-enemy https://www-scmp-com.libproxy1.nus.edu.sg/opinion/china-opinion/article/3371752/eu-its-own-worst-enemy Fri, 23 Oct 2026 12:30:09 +0000 Xiaofei Xu,Ji Siqi Xiaofei Xu,Ji Siqi As violent protests fuelled partly by the cost-of-living crisis shake parts of Europe, most notably France, analysts say the unrest could add to pressure on European policymakers to take a tougher trade stance towards China. “One could argue that the EU looks weaker, but then one could also argue that there is more of a need to show external strength at a time of such events,” said David Henig, director of the UK Trade Policy Project at the European Centre for International Political... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3371927/could-europes-cost-living-protests-sharpen-eu-china-trade-tensions https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3371927/could-europes-cost-living-protests-sharpen-eu-china-trade-tensions Fri, 23 Oct 2026 11:00:10 +0000 Emma Ma Emma Ma China’s shipbuilding sector now leads the world by an overwhelming margin, with the country’s shipyards accounting for 81.8 per cent of global new ship orders in the first nine months of the year, according to official data. Demand was also expected to stay resilient, with elevated crude oil prices helping to support orders for new vessels, analysts said. Total outstanding orders at Chinese shipyards reached 399.13 million deadweight tonnes (dwt) at the end of September, up 64.8 per cent year on... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3371906/how-china-captured-nearly-82-worlds-new-ship-orders https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3371906/how-china-captured-nearly-82-worlds-new-ship-orders Fri, 23 Oct 2026 10:00:10 +0000 Mia Nurmamat,Ji Siqi Mia Nurmamat,Ji Siqi China has unveiled a revised rule for regulating outbound investment, requiring investors to report major adverse developments more diligently, including foreign demands to hand over technology or dispose of stakes. The new rule, announced by the National Development and Reform Commission (NDRC) on Thursday, aimed to better prevent and mitigate rising overseas risks and protect Chinese interests, according to the economic planner. “In recent years, a small number of countries and regions have... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371865/beijing-tightens-rules-outbound-capital-better-shield-chinese-assets https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371865/beijing-tightens-rules-outbound-capital-better-shield-chinese-assets Fri, 23 Oct 2026 05:00:20 +0000 SCMP SCMP We have selected seven stories from this week’s news across Hong Kong, mainland China, the wider Asia region and beyond that resonated with our readers and shed light on topical issues. If you would like to see more of our reporting, please consider subscribing. 1. Honduras targets Chinese shops, state builder as president sits on Taiwan pledge Honduran migration officials have summoned or placed under review 41 Chinese nationals after inspecting shops in the capital and a hospital being built... https://www-scmp-com.libproxy1.nus.edu.sg/news/china/article/3371851/honduras-squeezes-chinese-firms-super-typhoon-champi-nears-taiwan-scmps-7-highlights https://www-scmp-com.libproxy1.nus.edu.sg/news/china/article/3371851/honduras-squeezes-chinese-firms-super-typhoon-champi-nears-taiwan-scmps-7-highlights Fri, 23 Oct 2026 04:15:11 +0000 https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/series/3371844/chinas-fifth-plenum-ground https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/series/3371844/chinas-fifth-plenum-ground Fri, 23 Oct 2026 02:15:14 +0000 Ralph Jennings Ralph Jennings Chinese households are increasingly shifting assets from real estate and bank deposits into more lucrative investments at home and abroad, despite growing oversight, Moody’s Ratings said. A multi-year downturn in the Chinese property market and low interest rates are fuelling the demand for alternative investments, the ratings agency said in a report published this week. Chinese investors are looking for investments that “offer higher returns than deposits while maintaining relatively low risk,”... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371785/even-beijing-boosts-oversight-chinese-investors-continue-pivot-offshore-assets https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371785/even-beijing-boosts-oversight-chinese-investors-continue-pivot-offshore-assets Fri, 23 Oct 2026 01:00:09 +0000 Emma Ma Emma Ma Plenary sessions of the Central Committee, the upper echelon of China’s ruling Communist Party, are major events on the country’s political calendar. This month’s edition, the fifth plenum, is attracting even more attention as the world’s second-largest economy takes on a more prominent role in global affairs. In the second part of this series, Emma Ma speaks to businesspeople as they adapt to stepped up regulatory enforcement and deal with other economic issues the government has pledged to... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371779/chinas-private-firms-are-fighting-profits-are-regulations-adding-burden https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371779/chinas-private-firms-are-fighting-profits-are-regulations-adding-burden Thu, 22 Oct 2026 22:00:11 +0000 Nicholas Spiro Nicholas Spiro When it comes to sentiment among Asian fund managers, Indonesia and India are distinctly out of favour. The findings of a survey by Bank of America on October 13 revealed that Asia’s fifth- and third-largest economies were the least preferred equity markets in the region. Since the beginning of this year, the Jakarta Composite Index has fallen 39 per cent, making it the world’s worst-performing stock market. India’s Nifty 50 Index, meanwhile, is down 12.7 per cent, putting it on track to record... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/asia-opinion/article/3371722/why-market-sell-offs-india-and-indonesia-have-little-common https://www-scmp-com.libproxy1.nus.edu.sg/opinion/asia-opinion/article/3371722/why-market-sell-offs-india-and-indonesia-have-little-common Thu, 22 Oct 2026 21:30:05 +0000 Mia Nurmamat,Sherry Wang Mia Nurmamat,Sherry Wang The European Union’s perception that China is yielding to its pressure tactics on trade is a “serious misjudgment”, as Beijing proved during last year’s tariff war with the United States that it will not back down from a confrontation, a former Chinese diplomat has warned. Beijing’s willingness to compromise during trade talks with the EU earlier this month – where the two sides agreed a quota on Chinese hybrid car exports to Europe – has been taken by some in Brussels as a sign that their... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371803/eus-idea-china-caving-pressure-serious-misjudgment-ex-diplomat https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371803/eus-idea-china-caving-pressure-serious-misjudgment-ex-diplomat Thu, 22 Oct 2026 13:30:09 +0000 Sylvia Ma Sylvia Ma The president of the American Chamber of Commerce in China (AmCham China) has urged Beijing and Washington to push more negotiations down to working-level officials, saying businesses need greater long-term stability in bilateral ties than leader-level diplomacy alone can provide. Michael Hart, president of the chamber, said American businesses were encouraged by the unprecedented frequency of meetings between the presidents of China and the US, but warned that working-level officials had less... https://www-scmp-com.libproxy1.nus.edu.sg/economy/article/3371746/us-china-ties-need-more-working-level-dialogues-not-just-summits-business-chamber https://www-scmp-com.libproxy1.nus.edu.sg/economy/article/3371746/us-china-ties-need-more-working-level-dialogues-not-just-summits-business-chamber Thu, 22 Oct 2026 12:00:10 +0000 Alice Li Alice Li China’s lithium-ion battery exports to the EU surged in the first three quarters of this year, as Chinese carmakers rush to build factories in Europe amid a tightening of import restrictions on electric vehicles (EVs). Power inverter exports to the bloc’s members also grew strongly despite EU efforts to exclude Chinese products from publicly funded energy projects. Shipments of Chinese lithium-ion batteries to the EU were worth US$31.2 billion in the first nine months of the year, up 46 per cent... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371790/european-ev-production-drive-sees-chinas-lithium-ion-battery-exports-eu-surge https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371790/european-ev-production-drive-sees-chinas-lithium-ion-battery-exports-eu-surge Thu, 22 Oct 2026 11:00:14 +0000 Brian Rhoads,Raymond Ma Brian Rhoads,Raymond Ma Thursday marked the deadline for Chinese taxpayers to make outstanding tax payments tied to offshore trusts as the government chases new funding sources to help ease fiscal strains. Investors face a 20 per cent tax based on the initial value of assets placed in trusts and a 20 per cent tax on distributions under a policy coming into force on Friday. Authorities backdated the taxes to January 1, 2023, and gave trust holders a 90-day grace period to make penalty-free payments when the changes were... https://www-scmp-com.libproxy1.nus.edu.sg/plus/business/china-business/article/3371784/china-targets-offshore-trusts-widening-push-taxes https://www-scmp-com.libproxy1.nus.edu.sg/plus/business/china-business/article/3371784/china-targets-offshore-trusts-widening-push-taxes Thu, 22 Oct 2026 09:25:32 +0000 Xinyi Wu Xinyi Wu Chinese crude oil imports from the Gulf region are rebounding amid months of disruption from the US-Israel war on Iran and a sharp decline in domestic inventories. Shipments from the Middle East rose 25.7 per cent month on month to 13.8 million tonnes in September, marking a third consecutive monthly increase, according to Chinese customs data. Xu Muyu, a senior crude oil analyst at data intelligence firm Kpler, said demand for Middle Eastern crude was likely to remain strong amid record... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3371778/chinas-gulf-oil-imports-forecast-approach-pre-iran-war-high-shipments-rebound https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3371778/chinas-gulf-oil-imports-forecast-approach-pre-iran-war-high-shipments-rebound Thu, 22 Oct 2026 09:00:14 +0000 Xiaofei Xu Xiaofei Xu France’s 10-year borrowing cost topped 5 per cent again in early Paris trading on Thursday, a day after touching that level for the first time since 2002, as the country recovers from its worst urban riots in years and braces for more clashes to come. Analysts expected market pressure to persist in the near term amid uncertainties at home and abroad, but noted that the situation remained far from turning into another euro-zone crisis. The spread between 10-year French and German bonds widened to... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3371724/frances-borrowing-costs-reach-24-year-high-riots-deepen-budget-worries https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3371724/frances-borrowing-costs-reach-24-year-high-riots-deepen-budget-worries Thu, 22 Oct 2026 08:00:10 +0000 Frank Chen,Alice Li Frank Chen,Alice Li Plenary sessions of the Central Committee, the upper echelon of China’s ruling Communist Party, are major events on the country’s political calendar. This month’s edition, the fifth plenum, is attracting even more attention as the world’s second-largest economy takes on a more prominent role in global affairs. In the first part of this series, Frank Chen and Alice Li track the ways top-level policy decisions flow down to local officials – and the challenges those officials face in balancing a... https://www-scmp-com.libproxy1.nus.edu.sg/economy/policy/article/3371666/china-moving-past-gdp-first-mindset-can-local-officials-get-programme https://www-scmp-com.libproxy1.nus.edu.sg/economy/policy/article/3371666/china-moving-past-gdp-first-mindset-can-local-officials-get-programme Wed, 21 Oct 2026 22:00:07 +0000 Xiaofei Xu Xiaofei Xu Preparing for war is meant to prevent war – an idea with deep roots in ancient Chinese strategic thought that may have just found an echo in Berlin. The EU’s proposed “kill switch”, intended to swiftly cut off market access for third countries including China, was put forward by France and Germany and unanimously endorsed by member states. But ideally it would never have to be used, German Chancellor Friedrich Merz said on Wednesday, stressing that Berlin was seeking “a new balance in trade”... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3371671/germany-wants-avoid-china-trade-war-despite-kill-switch-merz https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3371671/germany-wants-avoid-china-trade-war-despite-kill-switch-merz Wed, 21 Oct 2026 15:00:07 +0000 Sherry Wang Sherry Wang The Communist Party’s flagship newspaper has urged the public not to underestimate China’s technological achievements after Tesla’s “flying car” demonstration sparked concern in some quarters that the country may be falling behind in the global auto race. The People’s Daily commentary, published on Wednesday, followed the American electric vehicle giant’s unveiling last week of a second-generation Roadster fitted with thrusters developed with SpaceX, the rocket company led by Tesla CEO Elon... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371644/teslas-flying-car-draws-public-concern-china-and-official-response https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371644/teslas-flying-car-draws-public-concern-china-and-official-response Wed, 21 Oct 2026 13:00:10 +0000 Erwin R. Tiongson Erwin R. Tiongson Each autumn, the world’s economics teams come together for the annual meetings of the International Monetary Fund (IMF) and the World Bank. Last week’s gathering in Bangkok included the launch of the IMF’s World Economic Outlook (WEO). Led by IMF economists, the international economic community’s collective wisdom on the world’s economic prospects was made public. Remarkably, they expect steady growth in a time of so much uncertainty and strife. “This steady growth is the net result of two big... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3371446/amid-positive-growth-forecasts-lets-not-forget-our-devastating-losses https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3371446/amid-positive-growth-forecasts-lets-not-forget-our-devastating-losses Wed, 21 Oct 2026 12:30:11 +0000 Hugh Harsono Hugh Harsono From October 22, China’s grace period for the disclosure and settlement of certain offshore-trust tax liabilities ends. For the Chinese government, this deadline highlights its desire to affirm control over capital outflows, while for Chinese high-net-worth families, it serves as a reminder that it is now harder to keep international assets beyond the reach of the government. The deadline sits against the backdrop of China tightening scrutiny around cryptocurrency, stablecoins and real-world... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/china-opinion/article/3371259/chinas-offshore-tax-crackdown-could-inadvertently-fuel-digital-dollar-boom https://www-scmp-com.libproxy1.nus.edu.sg/opinion/china-opinion/article/3371259/chinas-offshore-tax-crackdown-could-inadvertently-fuel-digital-dollar-boom Wed, 21 Oct 2026 12:30:07 +0000 Ralph Jennings Ralph Jennings The European Union is likely to avoid a full-blown trade confrontation with China due to internal divisions in the bloc and fear of retaliation, according to a prominent research firm. The projection comes amid speculation that the two sides are on the brink of a trade war, with European policymakers raising the alarm about a looming “China shock 2.0” and pushing for stronger measures to protect domestic producers from Chinese competition. But the bloc would “continue to pull its punches” in any... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371655/eu-will-pull-its-punches-china-despite-growing-trade-war-talk-analysts https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3371655/eu-will-pull-its-punches-china-despite-growing-trade-war-talk-analysts Wed, 21 Oct 2026 12:00:10 +0000