https://www-scmp-com.libproxy1.nus.edu.sg/rss/505241/feed China’s gross domestic product (GDP) is the value of all goods and services produced within the country during a specific time. Its GDP, and in particular its GDP growth rate, have come under particular focus during the US-China trade war as the export-driven economy struggles under American tariffs. China’s quarterly growth rate averaged 9.4 per cent from 1989 until 2019, reaching an all time high of 15.4 per cent in the first quarter of 1993. But under pressure from the trade war with the... en https://assets-v2.i-scmp.com/production/static/img/icons/scmp-meta-1200x630.png https://www-scmp-com.libproxy1.nus.edu.sg Han Li Han Li China’s economic growth is expected to slow further next year as export strength fades and weak domestic demand persists, even as the global economy remains resilient, according to a new outlook from the Peterson Institute for International Economics (PIIE). The Washington-based think tank projects China’s GDP will grow 4.6 per cent this year and 4.3 per cent in 2027, down from 5 per cent growth in 2025, according to its semi-annual Global Economic Prospects report, released on Tuesday. The... https://www-scmp-com.libproxy1.nus.edu.sg/news/china/diplomacy/article/3369965/chinas-economy-slow-global-growth-stays-solid-us-think-tank-report-says?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/china/diplomacy/article/3369965/chinas-economy-slow-global-growth-stays-solid-us-think-tank-report-says?utm_source=rss_feed Tue, 06 Oct 2026 22:40:48 +0000 SCMP Plus SCMP Plus This article was translated from Chinese into English using Alibaba’s Qwen3.7-Plus, then checked and tweaked for accuracy by a South China Morning Post journalist. It is for reference only, and is not the official English version of the original Chinese document. Alibaba owns the SCMP. https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/china-economy/article/3369803/chinas-finance-minister-fiscal-policy?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/china-economy/article/3369803/chinas-finance-minister-fiscal-policy?utm_source=rss_feed Mon, 05 Oct 2026 09:42:26 +0000 Alice Li Alice Li China’s finance minister has pledged to roll out incremental and targeted fiscal policies to help achieve leadership’s full-year growth target for the country, following a freshly announced package of supportive measures. However, analysts expect Beijing to stop short of a major stimulus, providing only “just enough” support to meet the target. Lan Foan made the pledge in an article published on Thursday in the Communist Party’s leading theoretical journal, Qiushi, calling for the broadened... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3369550/china-seen-doing-just-enough-targeted-fiscal-support-defend-gdp-growth?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3369550/china-seen-doing-just-enough-targeted-fiscal-support-defend-gdp-growth?utm_source=rss_feed Fri, 02 Oct 2026 09:00:06 +0000 Ji Siqi,Sylvia Ma,Frank Chen Ji Siqi,Sylvia Ma,Frank Chen China’s central bank has announced a fresh package of measures to boost the real economy, cutting an interest rate for policy banks and introducing the country’s first interest subsidy for commercial mortgages. The People’s Bank of China cut the interest rate on its pledged supplemental lending (PSL) facility by 0.25 percentage points, lowering the one-year PSL rate from 1.75 per cent to 1.5 per cent. The move aims to better incentivise policy banks to support the real economy and align with... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3369207/china-cuts-interest-rate-policy-banks-boost-real-economy?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3369207/china-cuts-interest-rate-policy-banks-boost-real-economy?utm_source=rss_feed Tue, 29 Sep 2026 10:11:00 +0000 Brian Rhoads,Raymond Ma Brian Rhoads,Raymond Ma China outlined efforts to revive faltering growth with plans for new economic support measures and renewed efforts to prop up the floundering property market. “In response to emerging challenges in the economy’s operation, efforts should be made to intensify counter-cyclical adjustment of macro policies,” according to a statement carried by Xinhua following a State Council meeting on Monday. “China will strive to achieve its annual economic and social development goals.” Steps include hastening... https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/china-economy/article/3369193/china-moves-towards-stimulus-economic-concerns-grow?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/china-economy/article/3369193/china-moves-towards-stimulus-economic-concerns-grow?utm_source=rss_feed Tue, 29 Sep 2026 09:01:16 +0000 Xiaofei Xu Xiaofei Xu China’s Premier Li Qiang chaired a State Council executive meeting on Monday that called for a series of policies to strengthen support for the economy, including encouraging local governments, where conditions allow, to pilot measures to boost consumption. “In response to emerging challenges in the economy’s operation, efforts should be made to intensify countercyclical adjustment of macro policies and promote innovation-driven, high-quality and sound economic development,” according to a... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3369129/china-asks-local-governments-pilot-high-quality-policies-boost-consumption?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3369129/china-asks-local-governments-pilot-high-quality-policies-boost-consumption?utm_source=rss_feed Tue, 29 Sep 2026 03:07:07 +0000 Sherry Wang Sherry Wang The Chinese government needs to increase its spending on social safety nets, including pensions and rural healthcare, and further relax urban household registration restrictions to give households greater confidence to spend rather than save, according to the International Monetary Fund’s (IMF) Asia-Pacific chief. In an interview with the South China Morning Post, Krishna Srinivasan, director of the IMF’s Asia and Pacific Department, said the export- and investment-led model that powered China’s... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3368548/increase-chinas-consumption-boost-nations-social-safety-net-imf-director-says?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3368548/increase-chinas-consumption-boost-nations-social-safety-net-imf-director-says?utm_source=rss_feed Wed, 23 Sep 2026 14:15:30 +0000 Fan Hou,Haining Gao Fan Hou,Haining Gao – https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/article/3368452/chinas-gig-economy?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/article/3368452/chinas-gig-economy?utm_source=rss_feed Wed, 23 Sep 2026 02:50:59 +0000 Brian Rhoads,Raymond Ma Brian Rhoads,Raymond Ma China’s retail sales growth unexpectedly slumped in August, while industrial output accelerated more than anticipated, as the economy increasingly divides between a domestic slowdown and an export boom. August retail sales only rose 0.4 per cent, missing the 0.7 per cent forecast among economists polled by Chinese financial data provider Wind and slowing from 0.6 per cent in July. By contrast, industrial output jumped 5.2 per cent, beating the 4.7 per cent expectation and July’s 4.5 per cent... https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/china-economy/article/3367587/chinas-worsening-retail-slowdown-bolsters-case-stimulus?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/china-economy/article/3367587/chinas-worsening-retail-slowdown-bolsters-case-stimulus?utm_source=rss_feed Tue, 15 Sep 2026 09:00:17 +0000 Mia Nurmamat,Xinyi Wu Mia Nurmamat,Xinyi Wu China’s economy came under further pressure in August, as sluggish investment and consumption highlighted persistently weak domestic demand, although analysts expect a rebound in the fourth quarter as state intervention begins to take effect. Retail sales, a major gauge of consumer spending, grew last month by 0.4 per cent year on year, according to data released by the National Bureau of Statistics (NBS) on Tuesday. The reading was lower than a 0.73 per cent rise forecast by economists surveyed... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3367521/chinas-economy-under-further-pressure-august-investment-and-consumption-slow?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3367521/chinas-economy-under-further-pressure-august-investment-and-consumption-slow?utm_source=rss_feed Tue, 15 Sep 2026 02:00:18 +0000 Ralph Jennings Ralph Jennings Revenue from inbound travel to China is forecast to reach US$470 billion by 2040, more than doubling its current share of the economy and helping offset weak domestic demand, according to UBS. Tourism from outside mainland China would expand to 1.5 per cent of gross domestic product (GDP) on a compound annual growth rate of 8.9 per cent from 2025, the Swiss investment bank estimated. China’s inbound travel revenue would represent 15 per cent of the world tourism market by around 2040, said Chen... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3367459/chinas-inbound-tourism-revenue-projected-reach-us470-billion-2040-ubs?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3367459/chinas-inbound-tourism-revenue-projected-reach-us470-billion-2040-ubs?utm_source=rss_feed Mon, 14 Sep 2026 11:00:12 +0000 Mia Nurmamat Mia Nurmamat China’s hopes for a consumption boom may depend less on stimulus or wealthy households and more on improving living standards for 131 million migrant workers in its cities – a shift that could unlock spending equivalent to about 0.5 per cent of the country’s gross domestic product, according to HSBC. In a report released on Thursday, analysts at the bank projected that the world would add about 1.2 billion middle- and high-income consumers by 2050, with Asia accounting for 77 per cent of the... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3367166/improving-migrant-workers-living-standards-key-boosting-chinese-consumption-hsbc?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3367166/improving-migrant-workers-living-standards-key-boosting-chinese-consumption-hsbc?utm_source=rss_feed Fri, 11 Sep 2026 06:18:07 +0000 Xinyi Wu Xinyi Wu Lan Xiaohuan is a professor of economics at China Europe International Business School. His book, How China Works: An Introduction to China’s State-led Economic Development, has sold millions of copies in China and has been translated into multiple languages. Here, he discusses the economic realities behind China’s record trade surplus, the case for a stronger social safety net, and how public data infrastructure shapes the artificial intelligence race with the United States. This interview... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3366326/economist-lan-xiaohuan-balancing-act-needed-boost-chinas-consumption?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3366326/economist-lan-xiaohuan-balancing-act-needed-boost-chinas-consumption?utm_source=rss_feed Sun, 06 Sep 2026 22:00:09 +0000 Frank Chen Frank Chen Many Chinese tend to label the offspring of the country’s nouveau riche private business founders with the pejorative “fuerdai”, literally “second-generation rich”. They are seen as scions, waiting in the wings to inherit their family’s enterprises and the massive wealth their parents oversaw, a life in the lap of luxury guaranteed. In reality, many of these transitions are plagued by a clash between generations, as the younger generation is unwilling – or unable – to keep the family business... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3366391/family-firms-power-chinas-economy-what-happens-when-heirs-refuse-throne?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3366391/family-firms-power-chinas-economy-what-happens-when-heirs-refuse-throne?utm_source=rss_feed Sat, 05 Sep 2026 22:00:08 +0000 Mia Nurmamat Mia Nurmamat China plans to expand the scale of its sports industry to at least 7 trillion yuan (about US$1 trillion) over the next five years, turning to sporting events, outdoor activities and fitness spending to boost consumption and support local economies. The fresh target was detailed by officials at a press conference on Thursday as part of Beijing’s 15th five-year plan for the sports sector, and the goal represents a big jump from the 3.84 trillion yuan recorded in 2024, according to the most recent... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3366259/beijing-bets-us1-trillion-sports-boom-revive-consumption-job-market?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3366259/beijing-bets-us1-trillion-sports-boom-revive-consumption-job-market?utm_source=rss_feed Thu, 03 Sep 2026 13:00:06 +0000 Mandy Zuo Mandy Zuo One Shanghai family made an unconventional choice as they pored over college options this summer: rather than opting for overseas study or one of the many institutions within the borders of the financial centre, they picked a lesser-known university in a third-tier city – a Sino-foreign joint venture they felt would confer career benefits in the long run. Rose Hu said her son gained admission to the Guangdong Technion–Israel Institute of Technology in the coastal city of Shantou to study... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3366107/chinese-students-wary-geopolitics-seek-international-diplomas-without-leaving-home?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3366107/chinese-students-wary-geopolitics-seek-international-diplomas-without-leaving-home?utm_source=rss_feed Wed, 02 Sep 2026 22:00:15 +0000 Xinyi Wu Xinyi Wu After China’s top economic planner convened a rare national meeting to promote investments, analysts say that authorities are set to speed up bond issuance to fund government-led projects to keep growth on track for the rest of the year. The National Development and Reform Commission (NDRC) held a meeting on Friday with many of China’s key investment-related central government agencies, including the ministers of industry and information technology, housing and urban-rural development, and... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3365844/china-speed-bond-issuance-after-national-meeting-stabilising-investment-analysts?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3365844/china-speed-bond-issuance-after-national-meeting-stabilising-investment-analysts?utm_source=rss_feed Mon, 31 Aug 2026 12:00:09 +0000 Brian Rhoads,Raymond Ma Brian Rhoads,Raymond Ma Chinese real estate stocks tumbled after regulators tightened restrictions on the presale of incomplete properties, upending developers’ traditional financing model. State-backed builders led the sell-off, with China Resources Land and China Overseas Land both slumping more than 9 per cent in Hong Kong trading. There were double-digit declines for smaller rivals China Jinmao, Greentown China and Yuexiu Property. Developers will have to find new sources of funding for construction projects as... https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/china-economy/article/3365842/china-property-stocks-plunge-regulators-tighten-financing?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/china-economy/article/3365842/china-property-stocks-plunge-regulators-tighten-financing?utm_source=rss_feed Mon, 31 Aug 2026 09:20:35 +0000 Sherry Wang Sherry Wang China’s factory activity improved in August but remained in contraction territory for a second straight month, as a pickup in orders could not fully offset the impact of overall weak domestic demand and disruptions from extreme weather. The manufacturing purchasing managers’ index (PMI) was 49.8 in August, up from 49.2 in July, according to data released by the National Bureau of Statistics (NBS) on Monday. The reading was largely in line with the 49.85 projection from economists polled by the... https://www-scmp-com.libproxy1.nus.edu.sg/economy/economic-indicators/article/3365785/chinas-factory-activity-stays-contraction-august-despite-improvement?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/economic-indicators/article/3365785/chinas-factory-activity-stays-contraction-august-despite-improvement?utm_source=rss_feed Mon, 31 Aug 2026 02:21:09 +0000 Sherry Wang Sherry Wang As more Chinese provincial-level regions raise minimum wages, economists say the increases could encourage lower-income workers to spend more, but were unlikely to significantly boost consumption or the broader economy and could add to the cost burdens faced by smaller firms. The provinces of Guangdong and Shanxi and the Xinjiang Uygur autonomous region announced this month that wage increases of around 10 per cent or more would be implemented later this year. The increases far outpace their... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3365431/more-chinese-regions-are-raising-minimum-wages-will-it-help-boost-consumption?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3365431/more-chinese-regions-are-raising-minimum-wages-will-it-help-boost-consumption?utm_source=rss_feed Fri, 28 Aug 2026 07:00:08 +0000 Sherry Wang Sherry Wang In its third consecutive commentary defending China’s economic resilience, Communist Party mouthpiece People’s Daily emphasised that Beijing was prioritising targeted measures over aggressive stimulus to avoid a potential over-reliance on policy support, while also reiterating confidence in reaching the nation’s economic targets for the year. “China has not taken the path of overrelying on strong policy stimulus,” the piece said. Instead, the commentary added, targeted interventions would... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3365029/chinas-policy-addiction-warning-signals-beijings-preference-targeted-stimulus?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3365029/chinas-policy-addiction-warning-signals-beijings-preference-targeted-stimulus?utm_source=rss_feed Mon, 24 Aug 2026 06:11:42 +0000 Xinyi Wu,Sherry Wang Xinyi Wu,Sherry Wang China’s economic imbalances continued to deepen in July, as sluggish retail sales and a fixed-asset investment slump highlighted persistent weakness in domestic demand, with analysts expecting more policy stimulus from Beijing to stave off downside risks. Retail sales, a major gauge of consumer spending, grew by 0.6 per cent year on year last month, according to data released by the National Bureau of Statistics (NBS) on Monday. The lacklustre reading missed a 1.3 per cent rise forecast by... https://www-scmp-com.libproxy1.nus.edu.sg/economy/economic-indicators/article/3364266/chinas-domestic-demand-stays-muted-july-retail-sales-miss-expectations?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/economic-indicators/article/3364266/chinas-domestic-demand-stays-muted-july-retail-sales-miss-expectations?utm_source=rss_feed Mon, 17 Aug 2026 07:00:14 +0000 Ralph Jennings Ralph Jennings China should let its currency appreciate gradually to safeguard against foreign protectionist moves and boost spending to support domestic demand to meet its economic growth targets, according to Goldman Sachs economists. Data in the first half of 2026 continued to paint a picture of a bifurcated Chinese economy – with weak domestic demand and strong exports – which has led to a renewed debate over whether policies to support demand or nominal currency appreciation are the right response,... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3363139/china-needs-stronger-yuan-and-fiscal-boost-boost-near-term-growth-goldman-sachs?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3363139/china-needs-stronger-yuan-and-fiscal-boost-boost-near-term-growth-goldman-sachs?utm_source=rss_feed Thu, 06 Aug 2026 08:00:06 +0000 Zongshuai Fan Zongshuai Fan China’s Politburo has just set the country’s economic priorities for the second half of the year. The meeting took place against the backdrop of gross domestic product growth slowing to 4.3 per cent in the second quarter, its weakest since late 2022, and an increasingly K-shaped economy: strong exports and fast-growing hi-tech industries on one side, with weak domestic consumption, softening investment and slower growth elsewhere on the other. The official readout did not describe the economy as... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/china-opinion/article/3362585/chinas-economic-shift-may-hinge-what-migrant-workers-do-next?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/china-opinion/article/3362585/chinas-economic-shift-may-hinge-what-migrant-workers-do-next?utm_source=rss_feed Wed, 05 Aug 2026 01:30:05 +0000 Wang Xiangwei Wang Xiangwei Chinese officials tend to report only good news and bury bad news for propaganda purposes and career advancement. That is why it came as a genuine surprise when, on July 22, Zhang Enhui, the party chief of Changchun, an industrial powerhouse known for its automobile sector and technological research, publicly broke with that tradition. He warned of “unprecedented difficulties and challenges” facing the city’s economy. The remark was apparently swiftly scrubbed from the city government’s website,... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/china-opinion/article/3362386/how-likely-beijing-walk-talk-boosting-consumption?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/china-opinion/article/3362386/how-likely-beijing-walk-talk-boosting-consumption?utm_source=rss_feed Mon, 03 Aug 2026 01:30:08 +0000 Huizhao Huang Huizhao Huang China’s debt-to-GDP ratio fell in the second quarter for the first time since 2022, even as the government kept borrowing while households and private companies pulled back under the weight of falling home prices, sluggish income growth and shrinking profit margins, according to a new report. The ratio slipped 1.1 percentage points to 308.2 per cent, the National Institution for Finance and Development (NIFD), a Beijing-based think tank, said in a quarterly report on Thursday. The ratio compares... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3362491/chinas-debt-ratio-dips-households-cut-borrowing-and-firms-slash-investment-report?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3362491/chinas-debt-ratio-dips-households-cut-borrowing-and-firms-slash-investment-report?utm_source=rss_feed Fri, 31 Jul 2026 10:00:25 +0000 Raymond Ma,Neil Denslow Raymond Ma,Neil Denslow China’s factory activity unexpectedly slipped into contraction for the first time in five months, and construction activity fell to its lowest since the pandemic, underscoring a divide in the nation’s economy that complicates efforts to revive growth. The official manufacturing purchasing managers’ index (PMI) dropped to 49.2 in July, missing the 50.1 median estimate in a Bloomberg poll of economists. Construction and services, part of non-manufacturing PMI, tumbled to 49 from 50.2 a month... https://www-scmp-com.libproxy1.nus.edu.sg/plus/news/china/politics/article/3362512/china-factories-cool-cxmt-surges-pla-marks-anniversary?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/plus/news/china/politics/article/3362512/china-factories-cool-cxmt-surges-pla-marks-anniversary?utm_source=rss_feed Fri, 31 Jul 2026 09:00:08 +0000 SCMP Plus SCMP Plus This report was translated from Chinese into English using Alibaba’s Qwen3.7-Plus, then checked and tweaked for accuracy by a South China Morning Post journalist. It is for reference only, and is not the official English version of the original Chinese document. Alibaba owns the SCMP. https://www-scmp-com.libproxy1.nus.edu.sg/plus/news/china/politics/article/3362504/july-politburo-meeting-read-out?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/plus/news/china/politics/article/3362504/july-politburo-meeting-read-out?utm_source=rss_feed Fri, 31 Jul 2026 06:55:40 +0000 Sylvia Ma,Ji Siqi,Xinyi Wu Sylvia Ma,Ji Siqi,Xinyi Wu Beijing has pledged to step up macro policy support and enhance the resilience of capital markets for the remainder of the year, sending signals to stablise growth amid a recent slowdown in economic activity and rising volatility in global markets. After a meeting of the Communist Party’s 21-member Politburo – a major decision-making body led by President Xi Jinping – that ended on Thursday, the party’s upper echelon vowed to accelerate the pace of fiscal spending and speed up the transition... https://www-scmp-com.libproxy1.nus.edu.sg/economy/policy/article/3362364/chinas-politburo-pledges-policy-support-spending-counteract-sluggish-growth?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/policy/article/3362364/chinas-politburo-pledges-policy-support-spending-counteract-sluggish-growth?utm_source=rss_feed Thu, 30 Jul 2026 06:44:47 +0000 Junjie Wang Junjie Wang China released its 15th five-year plan for expanding consumption on July 14, setting out the country’s priorities for strengthening domestic demand between now and 2030. It targets retail sales of around 60 trillion yuan (US$8.9 billion) by that year, and sets goals to increase the consumption of services and digital products, strengthen household spending power and improve the overall consumer environment. Key points are summarised below. 1. General strategy Make expanding domestic demand a... https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/china-economy/article/3361966/chinas-15th-five-year-plan-consumption?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/china-economy/article/3361966/chinas-15th-five-year-plan-consumption?utm_source=rss_feed Tue, 28 Jul 2026 02:44:05 +0000 Xinyi Wu Xinyi Wu China’s so-called K-shaped economy has attracted attention in recent months, as official data shows a disparity between the country’s fast-growing hi-tech industries and stagnant consumer sector. But a similar pattern is also taking shape geographically, with regions benefiting unequally from the tech boom. Chinese provinces have now released their growth data for the first half of the year, and the figures show a clear bifurcation between thriving tech hubs and the rest of the country. The... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3361751/chinas-k-shaped-economy-divided-not-just-sector-geography?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3361751/chinas-k-shaped-economy-divided-not-just-sector-geography?utm_source=rss_feed Mon, 27 Jul 2026 03:00:05 +0000 Emma Ma Emma Ma With China’s personal income tax revenue jumping more than 13 per cent in the first half of the year – outpacing income growth by nearly eight percentage points – analysts said the gains were largely driven by local tax compliance campaigns targeting higher-income earners. Data released by the Ministry of Finance on Wednesday showed that personal income tax collections reached 898.2 billion yuan (US$132.7 billion) in the first six months of the year, up 13.1 per cent year on year. Estimates by... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3361598/chinas-personal-income-tax-revenue-soars-13-top-earners-face-tighter-compliance?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3361598/chinas-personal-income-tax-revenue-soars-13-top-earners-face-tighter-compliance?utm_source=rss_feed Fri, 24 Jul 2026 02:00:14 +0000 Mandy Zuo Mandy Zuo Shanghai’s economy expanded 5.6 per cent in the first half of the year, beating expectations on strong growth in hi-tech manufacturing and exports, even as weak consumer spending exposed the uneven nature of the recovery. According to data released by the municipal statistics bureau on Monday, the reading surpassed both the national growth rate of 4.7 per cent for the same period and the city’s own growth rates in recent years, signalling a resilient rebound in the financial and commercial... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3361205/shanghai-beats-gdp-estimates-56-growth-two-speed-recovery-persists?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3361205/shanghai-beats-gdp-estimates-56-growth-two-speed-recovery-persists?utm_source=rss_feed Tue, 21 Jul 2026 01:00:11 +0000 Fan Hou Fan Hou - https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/china-economy/article/3361190/chinas-half-year-growth?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/china-economy/article/3361190/chinas-half-year-growth?utm_source=rss_feed Mon, 20 Jul 2026 07:32:53 +0000 SCMP Editorial SCMP Editorial China’s latest trade and gross domestic product figures reflect a polarisation of its economic development. Reports of a stronger-than-expected trade performance were followed by news of lower-than-expected economic growth. Worryingly, this shows that the Chinese economy has become even more dependent on exports while the domestic economy has not maintained growth in parallel. Domestically, this can be expected to lead to calls for stimulus to lift consumption. Externally, it is bound to fuel... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3360671/chinas-economy-right-track-despite-polarised-economic-data?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3360671/chinas-economy-right-track-despite-polarised-economic-data?utm_source=rss_feed Wed, 15 Jul 2026 23:15:09 +0000 Brian Rhoads,Paul Buck Brian Rhoads,Paul Buck China’s economy grew at the slowest pace in nearly four years in the second quarter, with sluggish consumption amid the fallout from the Iran war offsetting strong export growth. The 4.3 per cent increase in gross domestic product, down from 5 per cent in the first three months of the year, dragged first-half growth down to 4.7 per cent. While that is within Beijing’s annual target of “4.5 per cent to 5 per cent” GDP growth, the deceleration was bigger than economists surveyed by Chinese... https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/china-economy/article/3360648/chinas-slowing-economic-growth-boosts-case-stimulus?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/china-economy/article/3360648/chinas-slowing-economic-growth-boosts-case-stimulus?utm_source=rss_feed Wed, 15 Jul 2026 09:00:11 +0000 Sylvia Ma,Xinyi Wu Sylvia Ma,Xinyi Wu China reported 4.3 per cent gross domestic product growth in the second quarter of 2026 shortly after recording strong, sustained momentum in exports – a contrast underscoring the need for policy support to address weak domestic demand and persistent economic imbalances. The closely watched GDP figure, released by the National Bureau of Statistics (NBS) on Wednesday, was the slowest quarterly growth rate since the end of 2022. The number fell below the 4.48 per cent forecast from economists... https://www-scmp-com.libproxy1.nus.edu.sg/economy/economic-indicators/article/3360592/china-reports-43-gdp-growth-second-quarter-falling-short-expectations?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/economic-indicators/article/3360592/china-reports-43-gdp-growth-second-quarter-falling-short-expectations?utm_source=rss_feed Wed, 15 Jul 2026 02:00:10 +0000 Emma Ma Emma Ma Beijing has elevated household spending to a higher strategic priority, rolling out the country’s first stand-alone five-year plan for consumption. The plan, unveiled on Monday by the National Development and Reform Commission (NDRC) and the Ministry of Commerce, sets a 2030 retail sales target of 60 trillion yuan (US$8.85 trillion) – nearly 20 per cent higher than the 2025 level – as policymakers seek to steady growth amid sluggish expansion. “The country’s consumer market is entering a... https://www-scmp-com.libproxy1.nus.edu.sg/economy/policy/article/3360498/whats-stake-china-prioritises-household-spending-new-five-year-plan?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/policy/article/3360498/whats-stake-china-prioritises-household-spending-new-five-year-plan?utm_source=rss_feed Tue, 14 Jul 2026 09:35:42 +0000 Sylvia Ma Sylvia Ma With central banks prioritising domestic objectives, Plaza Accord-style exchange-rate coordination is now out of reach despite growing concerns over the dollar-centred monetary system, complicating the smooth transition to a more multipolar international monetary system, according to a prominent economic historian. Barry Eichengreen, a former senior policy adviser at the International Monetary Fund, said that if erratic US policies and weakening institutional guard rails were to persist for... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3360388/dollar-risks-rising-plaza-accord-style-coordination-not-feasible-now-ex-imf-adviser?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3360388/dollar-risks-rising-plaza-accord-style-coordination-not-feasible-now-ex-imf-adviser?utm_source=rss_feed Tue, 14 Jul 2026 00:00:11 +0000 Associated Press Associated Press The International Monetary Fund (IMF) on Wednesday modestly downgraded its outlook for the world economy this year, citing the energy shock caused by the Iran war. But the fallout from the conflict is being partially offset by booming investment in artificial intelligence and other technologies. The IMF now expects the global economy to expand by a sluggish 3 per cent in 2026, down from 3.5 per cent last year and from the 3.1 per cent it had forecast for this year back in April. The fund expects... https://www-scmp-com.libproxy1.nus.edu.sg/news/world/article/3359890/imf-sees-world-economy-growing-just-3-year-amid-iran-war?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/world/article/3359890/imf-sees-world-economy-growing-just-3-year-amid-iran-war?utm_source=rss_feed Wed, 08 Jul 2026 14:41:23 +0000 Emma Ma Emma Ma A local government in China has been left red-faced after it falsified land sale deals to inflate fiscal revenues amid a five-year slump in the country’s property market. The Communist Party’s Central Commission for Discipline Inspection (CCDI) said that in one case, a plot of land in Nanning, the capital of southern China’s Guangxi Zhuang autonomous region, was “sold” 18 times without ever actually changing hands. The party’s top anti-corruption watchdog said the tactic allowed the city... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3359856/chinese-city-sold-same-plot-land-18-times-inflate-fiscal-revenue-watchdog?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3359856/chinese-city-sold-same-plot-land-18-times-inflate-fiscal-revenue-watchdog?utm_source=rss_feed Wed, 08 Jul 2026 10:00:10 +0000 Sylvia Ma Sylvia Ma Gao Shanwen, one of China’s most influential economists, whose outspoken views on the country’s economy made him one of its most closely watched market commentators, died at 55 on Tuesday after a battle with cancer, according to Chinese media reports. Over a career spanning three decades, Gao rose to become one of China’s best-known market economists. His incisive research on China’s business cycles, the property market, and the broader macroeconomy earned him a dedicated following among... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3359812/gao-shanwen-economist-who-mapped-chinas-structural-shift-dies-55-after-cancer-fight?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3359812/gao-shanwen-economist-who-mapped-chinas-structural-shift-dies-55-after-cancer-fight?utm_source=rss_feed Wed, 08 Jul 2026 05:12:57 +0000 Brian Rhoads,Raymond Ma Brian Rhoads,Raymond Ma China will end a tax break for plug-in hybrids at year-end, further paring more than a decade of support that has helped to make the country the world’s biggest market for new-energy vehicles. Owners will no longer be exempt from an annual vehicle and vessel tax under changes announced by the government on Friday. Similar changes also apply to pure electric and fuel-cell commercial vehicles. A 50 per cent tax discount for energy-saving vehicles, which are predominantly petrol-powered, will be... https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/china-economy/article/3359594/china-ends-hybrid-car-tax-break-ev-success-creates-challenges?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/china-economy/article/3359594/china-ends-hybrid-car-tax-break-ev-success-creates-challenges?utm_source=rss_feed Mon, 06 Jul 2026 09:24:58 +0000 Andrew Sheng Andrew Sheng China is such a giant player in the global economy that understanding how the US-China contest of the century for international primacy will evolve has become crucial. Some Westerners, especially those in the United States, feel so threatened that they have resorted to protectionism, with global fragmentation and perhaps even preparations for a third world war already in the cards. Kishore Mahbubani’s book Has China Won? highlighted deep misunderstandings and structural tensions between China... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/china-opinion/article/3359270/us-has-failed-understand-china?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/china-opinion/article/3359270/us-has-failed-understand-china?utm_source=rss_feed Fri, 03 Jul 2026 21:30:06 +0000 Brian Rhoads,Raymond Ma Brian Rhoads,Raymond Ma China’s Politburo called for “forceful” countermeasures against floods and droughts as El Nino effects exacerbate the impact of extreme weather events in the country. Local authorities should strengthen flood controls on major rivers, improve rescue capabilities and bolster management of water sources, the top decision-making body said after a monthly meeting on Tuesday chaired by President Xi Jinping. Other steps include greater protection for agricultural infrastructure, according to... https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/china-economy/article/3359177/china-food-security-risks-worsen-extreme-weather-becomes-more-common?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/china-economy/article/3359177/china-food-security-risks-worsen-extreme-weather-becomes-more-common?utm_source=rss_feed Thu, 02 Jul 2026 09:11:53 +0000 Frank Chen Frank Chen Nomura Research Institute chief economist Richard Koo is well-known for his “balance sheet recession” interpretation of Japan’s economic downfall in the 1990s. In his second Open Questions interview, Koo assesses the risks the Chinese economy is facing this year and beyond, the many parallels between Beijing and Tokyo, and why market size and technology alone may not be enough to help avert a fate similar to Japan’s. Koo also explains why giving China’s consumers money will not help and why... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3358532/economist-richard-koo-china-and-japans-shared-battle-against-time?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3358532/economist-richard-koo-china-and-japans-shared-battle-against-time?utm_source=rss_feed Sun, 28 Jun 2026 22:00:08 +0000 Frank Chen Frank Chen China’s top leadership launched an expansive sweep of the nation’s agricultural, industrial and tech hubs this week, gathering “frontline” data ahead of a crucial GDP release in mid-July and a high-stakes Politburo meeting at the month’s end. On Wednesday, President Xi Jinping conducted a field trip to Dezhou, an agrarian city in the northern Shandong province, where he visited cornfields and a village. During the tour, he highlighted the need to enhance production and yield to guarantee food... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3358231/chinas-xi-joins-leadership-blitz-hub-visits-fact-finding-push-gdp-release?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3358231/chinas-xi-joins-leadership-blitz-hub-visits-fact-finding-push-gdp-release?utm_source=rss_feed Wed, 24 Jun 2026 11:30:04 +0000 Ji Siqi,Xinyi Wu Ji Siqi,Xinyi Wu Chinese Premier Li Qiang said on Wednesday the western narrative of “China Shock 2.0” is not grounded in facts and instead should be phrased as “China Opportunity 2.0”, as he stressed the country is serving as a catalyst for global economic growth. “What China’s technologies and products in emerging fields bring to the world is not a shock, but an opportunity; not a threat, but empowerment,” Li said at the opening plenary of the World Economic Forum’s Annual Meeting of the New Champions, also... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3358126/china-safe-haven-global-economy-says-premier-li-qiang-summer-davos?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3358126/china-safe-haven-global-economy-says-premier-li-qiang-summer-davos?utm_source=rss_feed Wed, 24 Jun 2026 02:32:36 +0000 Julie Zhang Julie Zhang As China moves towards becoming one of the world’s fastest-ageing economies – a trend causing worry over future productivity and a widening gulf between the country’s working and retired populations – Goldman Sachs said the pharmaceutical and biotechnology sectors could end up the biggest winners from the demographic divide, while carmakers and technology hardware manufacturers may see fiercer headwinds. Hong Kong and mainland China are both expected to enter the top 10 ranking for the world’s... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3358119/china-plans-demographic-crisis-some-sectors-see-opportunity?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3358119/china-plans-demographic-crisis-some-sectors-see-opportunity?utm_source=rss_feed Wed, 24 Jun 2026 01:07:23 +0000 Neil Denslow,Raymond Ma Neil Denslow,Raymond Ma China’s retail sales shrank for the first time in more than three years as higher fuel prices and inflation caused by the war on Iran compounded the nation’s consumption challenges. May sales fell by 0.6 per cent from a year earlier, missing the 0.1 per cent growth forecast among economists polled by Chinese financial data provider Wind. It was the first decline since Covid lockdowns ended in December 2022. Other government data releases on Tuesday showed a 4.1 per cent drop in fixed-asset... https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/china-economy/article/3357288/chinas-retail-sales-fall-first-time-covid?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/china-economy/article/3357288/chinas-retail-sales-fall-first-time-covid?utm_source=rss_feed Tue, 16 Jun 2026 09:01:24 +0000