https://www-scmp-com.libproxy1.nus.edu.sg/rss/510448/feed This topic charts China's economic recovery as it, in 2023, enters an era of slower growth, along with an ageing and shrinking workforce, weak consumer demand and a property market downturn. en https://assets-v2.i-scmp.com/production/static/img/icons/scmp-meta-1200x630.png https://www-scmp-com.libproxy1.nus.edu.sg SCMP Editorial SCMP Editorial Finance Minister Lan Foan’s latest article offers an authoritative glimpse of Beijing’s fiscal compass. Its timing is telling: demand is flagging, external headwinds are stiffening and the Central Committee’s fifth plenum convenes in late October. Beneath the dry prose lies a weighty message: the real test is not only how hard to stimulate the economy but how to mend local governments’ battered finances. Stimulus comes first. The keywords are “precision” and “effectiveness”, signalling Beijing... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3370467/beijing-right-reserve-its-fiscal-firepower?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3370467/beijing-right-reserve-its-fiscal-firepower?utm_source=rss_feed Sun, 11 Oct 2026 23:15:11 +0000 Mandy Zuo Mandy Zuo China has issued a draft of its first formal regulation to extend labour-law protections to the country’s rapidly growing ranks of gig and platform workers, a major segment of an expanding flexible workforce within the country’s tough job market. Platform workers, such as ride-hailing drivers and those engaged in food deliveries – a group totalling 84 million who often face irregular pay and intense workloads – will be entitled to basic labour protections covering pay, rest periods, workplace... https://www-scmp-com.libproxy1.nus.edu.sg/economy/policy/article/3370280/china-proposes-basic-safeguards-expanding-gig-worker-economy-gaps-remain?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/policy/article/3370280/china-proposes-basic-safeguards-expanding-gig-worker-economy-gaps-remain?utm_source=rss_feed Fri, 09 Oct 2026 05:00:28 +0000 Alice Li Alice Li While China’s export engine still has room to grow, many of its trading partners may be approaching the limit of how much more they can absorb, which could place a ceiling on further growth over the coming years, according to a Goldman Sachs report. “At least over the next few years, there is still room for Chinese exports to maintain their strong momentum,” analysts said in the report led by the American investment bank’s chief China economist Hui Shan on Wednesday. “Over the longer term,... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3370078/why-chinas-export-engine-may-hit-ceiling-trading-partners-face-limits?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3370078/why-chinas-export-engine-may-hit-ceiling-trading-partners-face-limits?utm_source=rss_feed Wed, 07 Oct 2026 14:00:06 +0000 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 Editorial SCMP Editorial In two months, Beijing’s reading of the economy has changed markedly. In July, the State Council brushed aside calls for stimulus, preferring to make “full and effective use of existing policies”. On Monday, a cabinet meeting chaired by Premier Li Qiang acknowledged emerging problems and pledged to “intensify countercyclical adjustment of macro policies”. The shift is welcome. But how the stimulus is delivered, and by whom, matters as much as its size. The case for urgency is plain. Growth... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3369611/chinas-economic-recovery-calls-bigger-role-private-firms?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3369611/chinas-economic-recovery-calls-bigger-role-private-firms?utm_source=rss_feed Fri, 02 Oct 2026 23:15:10 +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 Xinyi Wu Xinyi Wu Primary schools and kindergartens in China are being converted into elderly care facilities, as falling birth rates and a shrinking youth population leave classrooms empty. According to data from the Ministry of Education, primary school admissions and preschool enrolments each fell around 10 per cent in 2025. The total number of educational institutions nationwide declined by over 6 per cent to 440,700 from the year before. Some of these vacant campuses are being repurposed to serve a... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3368988/chinas-birth-rate-falls-vacant-schools-are-transformed-aged-care-facilities?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3368988/chinas-birth-rate-falls-vacant-schools-are-transformed-aged-care-facilities?utm_source=rss_feed Thu, 01 Oct 2026 01:43:59 +0000 William Zheng,Alyssa Chen William Zheng,Alyssa Chen Chinese President Xi Jinping projected a message of confidence about the country’s ability to overcome challenges during his annual National Day address, issuing a rallying call for robust economic growth and more certainty amid geopolitical complications. Xi’s address, delivered at a state reception in Beijing on Wednesday evening to mark the 77th anniversary of the founding of the People’s Republic, was his first to the nation following his state visit to the US last week. It came weeks ahead... https://www-scmp-com.libproxy1.nus.edu.sg/news/china/politics/article/3369370/xi-projects-confidence-national-day-speech-rallying-call-economic-growth?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/china/politics/article/3369370/xi-projects-confidence-national-day-speech-rallying-call-economic-growth?utm_source=rss_feed Wed, 30 Sep 2026 13:46:50 +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 Alice Li Alice Li Beijing should expand central government borrowing and accelerate local debt restructuring, as China’s relatively low price levels offer a rare window for stronger fiscal support to bolster demand, according to some prominent Chinese economists. “With oil shocks pushing up prices, and inflationary pressures spreading globally, China currently has the lowest price levels, while prices elsewhere are significantly higher,” said Yu Yongding, a former member of the People’s Bank of China’s Monetary... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3368259/china-economists-urge-beijing-act-fast-local-level-debt-low-prices-vanish?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3368259/china-economists-urge-beijing-act-fast-local-level-debt-low-prices-vanish?utm_source=rss_feed Mon, 21 Sep 2026 11:00:10 +0000 Frank Chen Frank Chen The opening of China’s first new river-to-sea canal since 1949 – which will boost trade links with Southeast Asia – could transform the economy of the country’s landlocked southwestern interior in ways comparable to the Yangtze’s role in Shanghai’s rise, according to its operator. The 134.2km (83.4 mile) Pinglu Canal, which opened on Wednesday, links a major tributary of the Pearl River in the southern Guangxi Zhuang autonomous region with the Gulf of Tonkin, known as the Beibu Gulf in China,... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3367901/can-new-pinglu-canal-become-chinas-yangtze-southwest?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3367901/can-new-pinglu-canal-become-chinas-yangtze-southwest?utm_source=rss_feed Fri, 18 Sep 2026 03:00:05 +0000 Emma Ma Emma Ma A recently issued official circular has put China’s long-running problem with hidden local government debt back in the spotlight. Earlier this month, the Ministry of Finance (MoF) and the Central Commission for Discipline Inspection (CCDI) jointly outlined six typical cases spanning six provinces where local authorities had fallen short of targets to resolve unrecorded liabilities. “For hidden-debt penalty announcements, it is unprecedented to have the CCDI alongside the MoF,” said Qiao Yide,... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3367870/china-publicly-names-officials-unprecedented-hidden-debt-crackdown-can-it-work?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3367870/china-publicly-names-officials-unprecedented-hidden-debt-crackdown-can-it-work?utm_source=rss_feed Fri, 18 Sep 2026 01:30:08 +0000 Mia Nurmamat,Mandy Zuo Mia Nurmamat,Mandy Zuo Slower but higher-quality loan growth may become a “new normal” for the Chinese economy as its financial structure undergoes a profound shift, China’s central bank governor Pan Gongsheng has said. “Maintaining past credit growth rates is difficult and unnecessary,” said Pan in an article published on Wednesday in the Communist Party’s theoretical journal, arguing that revitalising inefficient existing loans was essentially equivalent to new lending in supporting growth. This shift is part of the... https://www-scmp-com.libproxy1.nus.edu.sg/economy/article/3367599/bank-lending-china-ekes-out-small-increase-amid-stalled-consumption?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/article/3367599/bank-lending-china-ekes-out-small-increase-amid-stalled-consumption?utm_source=rss_feed Tue, 15 Sep 2026 09:27:55 +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 Xinyi Wu Xinyi Wu Beijing is planning a carrot-and-stick approach to stop large corporations from exploiting their market dominance to delay payments to small and medium-sized enterprises (SMEs) as part of a broader campaign to curb cutthroat competition. “In recent years, we have observed that some large enterprises – in order to save on financial costs and gain a competitive advantage – have exploited their dominant market position to delay payments to suppliers,” said Cao Yuanyuan, director of financial... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3367555/china-cracks-down-big-firms-delaying-payments-cash-strapped-smes?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3367555/china-cracks-down-big-firms-delaying-payments-cash-strapped-smes?utm_source=rss_feed Tue, 15 Sep 2026 06:33:52 +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 Xinyi Wu Xinyi Wu China’s factory-gate price growth accelerated in August, while consumer inflation picked up again, amid volatile energy and commodity costs linked to the US-Israel war on Iran. The producer price index rose 3.8 per cent year on year last month, up from 3.5 per cent in July, according to data released by the National Bureau of Statistics (NBS) on Wednesday. The reading beat a 3.6 per cent projection from economists polled by financial data provider Wind. Meanwhile, the consumer price index (CPI),... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3366851/chinas-factory-gate-price-growth-picks-august-iran-war-fuels-energy-volatility?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3366851/chinas-factory-gate-price-growth-picks-august-iran-war-fuels-energy-volatility?utm_source=rss_feed Wed, 09 Sep 2026 02:28:22 +0000 Xinyi Wu Xinyi Wu Copper prices have surged to an all-time high on the London Metal Exchange (LME) amid anticipations of potential US tariffs and a tightening supply crunch, with analysts expecting prices to remain elevated in the short term. Benchmark three-month copper futures closed at US$14,510 a tonne on Monday, after rising to a record high of US$14,533 a tonne earlier in the session, surpassing the previous record set in January. The rally came with the market widely expecting the United States to expand... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3366787/copper-rally-sets-record-price-lme-us-tariff-fears-fuel-scramble-stockpiles?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3366787/copper-rally-sets-record-price-lme-us-tariff-fears-fuel-scramble-stockpiles?utm_source=rss_feed Tue, 08 Sep 2026 12:00:13 +0000 Sherry Wang Sherry Wang China’s exports continued to beat expectations in August, buoyed by strong demand for tech products and pre-Christmas orders that offset severe weather disruptions, though analysts warned the country’s widening trade imbalances remained a concern among Western policymakers. The country’s exports rose by 25 per cent year on year to US$401.44 billion last month, according to Chinese customs data released on Tuesday. The reading was above a forecast of 21.93 per cent growth from economists polled... https://www-scmp-com.libproxy1.nus.edu.sg/economy/economic-indicators/article/3366704/chinas-export-machine-strengthens-august-despite-weather-disruptions-trade-headwinds?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/economic-indicators/article/3366704/chinas-export-machine-strengthens-august-despite-weather-disruptions-trade-headwinds?utm_source=rss_feed Tue, 08 Sep 2026 02:41:09 +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 Huizhao Huang Huizhao Huang Two years ago, Yuki Liu was a university student in the northern Chinese province of Hebei, studying traditional Chinese music and the pipa – a pear-shaped Chinese lute – weighing the usual paths considered by her peers: postgraduate degree or civil service exam. Today, her day begins at 1am in Germany. While many people sleep, she is already working as an apprentice at an industrial bakery in a small town outside Stuttgart in the country’s southwest, preparing the shop for the morning rush. The... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3366392/how-chinas-youth-job-crisis-driving-graduates-german-vocational-apprenticeships?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3366392/how-chinas-youth-job-crisis-driving-graduates-german-vocational-apprenticeships?utm_source=rss_feed Sun, 06 Sep 2026 10:00:10 +0000 Alex Lo Alex Lo There is little in common between Daron Acemoglu and Xi Jinping. As a strong advocate of the Western model of liberal democracy, Acemoglu, co-recipient of the 2024 Nobel Prize in economics, may be considered the ideological opposite of the Chinese president. But on a crucial point about China’s future, the two may, strangely, be on the same page: an across-the-board introduction of cutting-edge technology may enhance productivity and maintain economic growth. It may counteract the negative... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/china-opinion/article/3366015/why-chinas-shrinking-population-may-be-blessing-not-curse?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/china-opinion/article/3366015/why-chinas-shrinking-population-may-be-blessing-not-curse?utm_source=rss_feed Sun, 06 Sep 2026 08:30:07 +0000 Zhu Wenqian Zhu Wenqian With the saga surrounding Evergrande founder Hui Ka‑yan ending in his life sentence and the ongoing financial struggle of mainland developers, analysts said challenges remained for troubled operators getting away from the vicious cycle of a sluggish property market, even though risk resolution had largely been completed for some cases. Despite the difficulty, better-capitalised state-owned enterprises would prove more resilient and should gain market shares amid uncertain earnings outlooks, they... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3366070/after-evergrande-chinas-new-rules-spark-unease-amid-developers-debt-resolution-progress?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3366070/after-evergrande-chinas-new-rules-spark-unease-amid-developers-debt-resolution-progress?utm_source=rss_feed Sun, 06 Sep 2026 01:00:08 +0000 Frank Chen Frank Chen A new high-speed railway section connecting Beijing to Xiongan and central Chinese provinces is poised to begin operations this month, filling a missing link in the 2,370km (1,472-mile) train journey from the nation’s capital to Hong Kong. By enabling more direct connectivity and train services to and from Hong Kong for northern and central regions, China aims to inject fresh development impetus into the Greater Bay Area – an integrated economic hub linking several southern cities – and inland... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3366422/how-chinas-new-railway-artery-bolsters-hong-kongs-ties-capital-central-heartland?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3366422/how-chinas-new-railway-artery-bolsters-hong-kongs-ties-capital-central-heartland?utm_source=rss_feed Sat, 05 Sep 2026 03:00:12 +0000 Xinyi Wu Xinyi Wu China’s top economic planner has held meetings over two consecutive days on accelerating major construction projects, signalling urgency over bolstering fixed-asset investment as economic momentum slows. The National Development and Reform Commission (NDRC) met with representatives from several ministries on Thursday to review the progress of the 109 major projects proposed under the country’s latest five-year plan. Officials called for accelerating the implementation of ongoing projects and... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3366361/china-pushes-speed-key-infrastructure-builds-amid-investment-declines?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3366361/china-pushes-speed-key-infrastructure-builds-amid-investment-declines?utm_source=rss_feed Fri, 04 Sep 2026 09:00:18 +0000 Sherry Wang Sherry Wang China’s biggest economic buzzword this year could be the “six networks”, as Beijing aims to use infrastructure investment to inject fresh momentum into an economy facing persistent headwinds such as weak domestic demand and a prolonged property downturn. The scale is substantial, with investment expected to exceed 7 trillion yuan (US$1 trillion) this year alone, according to the National Development and Reform Commission (NDRC). During the five years through 2030, combined investment in just... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3366211/pipes-power-and-petaflops-whats-behind-chinas-massive-6-networks-investment?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3366211/pipes-power-and-petaflops-whats-behind-chinas-massive-6-networks-investment?utm_source=rss_feed Fri, 04 Sep 2026 00:00:11 +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 Xinyi Wu Xinyi Wu China has fired back at critics of its trade imbalances at a Group of 20 gathering, with the central bank firmly denying that Beijing deliberately pursues trade surpluses, while also vowing that it would not weaponise the yuan to boost exports. In the face of concerns over export reliance, People’s Bank of China governor Pan Gongsheng said the country remained committed to expanding domestic demand, state broadcaster CCTV reported on Wednesday. “Addressing global imbalances requires all... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3366213/china-rejects-g20-trade-imbalance-claims-says-no-need-devalue-yuan?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3366213/china-rejects-g20-trade-imbalance-claims-says-no-need-devalue-yuan?utm_source=rss_feed Thu, 03 Sep 2026 07:11:08 +0000 Sherry Wang Sherry Wang Inner Mongolia autonomous region’s government is launching a campaign to lure homebuyers from Beijing, pitching the area’s cheaper housing and high-speed rail links amid an artificial intelligence (AI) data-centre boom that is driving up demand for talent and investment. The region’s housing authority, together with officials from Hohhot, Chifeng, Ulanqab, and Duolun county, concluded a three-day property showcase titled “I Have a Home in the Grasslands” in Beijing on Monday, according to the... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3366140/chinas-inner-mongolia-pitches-affordable-homes-fast-train-lure-beijing-commuters?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3366140/chinas-inner-mongolia-pitches-affordable-homes-fast-train-lure-beijing-commuters?utm_source=rss_feed Wed, 02 Sep 2026 13:30:08 +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 Emma Ma Emma Ma With China rolling out a stronger-than-expected package of measures to transition the housing market away from a presales model, analysts said the shift is a double-edged sword for real estate developers: tighter regulations are poised to squeeze cash inflows, even as the reforms aim to stimulate sales and stabilise prices over time. Under new rules released by the People’s Bank of China, presales would remain in effect but down payments and mortgage funds would be disbursed to developers only... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3365827/what-do-chinas-new-housing-presale-rules-mean-real-estate-developers?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3365827/what-do-chinas-new-housing-presale-rules-mean-real-estate-developers?utm_source=rss_feed Mon, 31 Aug 2026 08:00:29 +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 Frank Chen Frank Chen Wuliangye, China’s second-largest liquor producer, is a household name. But Yibin, the lower-tier city in Sichuan province home to the famous baijiu maker, has long flown under the radar. So when I received an invitation earlier this month for a media trip to Yibin, the first question that sprang to mind was: where exactly is it? Tucked away behind the hills of western China, we had to fly to Chengdu, Sichuan’s capital, followed by a bus transfer. And when we finally arrived, local officials... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3365655/how-chinas-liquor-heartland-traded-old-spirits-new-energy?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3365655/how-chinas-liquor-heartland-traded-old-spirits-new-energy?utm_source=rss_feed Sun, 30 Aug 2026 09:00:09 +0000 Huizhao Huang,Xinyi Wu,Xiaofei Xu Huizhao Huang,Xinyi Wu,Xiaofei Xu Beijing has unveiled a package of measures to shift home sales in China’s vast property market away from a presales model, in a stronger-than-expected push to stabilise a property downturn that has weighed on consumer demand for years. A notice released on Friday laid out reforms to China’s home sales system, telling local governments to prioritise completed-home sales. It was jointly issued by the Ministry of Housing and Urban-Rural Development, the Ministry of Natural Resources and the... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3365649/china-moves-stabilise-property-sector-stronger-expected-package?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3365649/china-moves-stabilise-property-sector-stronger-expected-package?utm_source=rss_feed Fri, 28 Aug 2026 13:42:24 +0000 Emma Ma Emma Ma Against a backdrop of softened economic growth and slumping land-transfer proceeds that are squeezing local coffers across China, the nation’s top-ranked vice-premier has cast the spotlight on reforms to realign fiscal ties between the central and local governments. During an inspection tour of Anhui province on Tuesday and Wednesday, Ding Xuexiang attended a symposium on “pilot scientific fiscal management” programmes, and Xinhua reported that the vice-premier said Beijing would “increase local... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3365455/china-vice-premier-signals-reform-reshape-central-local-finances-amid-funding-pressure?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3365455/china-vice-premier-signals-reform-reshape-central-local-finances-amid-funding-pressure?utm_source=rss_feed Thu, 27 Aug 2026 11:00:10 +0000 Mandy Zuo Mandy Zuo When British actor Tom Holland and his actress wife Zendaya arrived in Shanghai late last month to promote Spider-Man: Brand New Day, the celebrity couple’s sightseeing excursions and shopping expeditions grabbed even more headlines than the blockbuster itself. From dining at a local noodle shop to wearing affordable Chinese apparel brands, the A-list pair spent a day exploring the city, reigniting online buzz in China over the growing trend of foreign tourists visiting and spending in the... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3365424/shanghai-aims-quintuple-tax-free-merchandise-sales-foreign-tourists-within-5-years?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3365424/shanghai-aims-quintuple-tax-free-merchandise-sales-foreign-tourists-within-5-years?utm_source=rss_feed Thu, 27 Aug 2026 07:00:19 +0000 Emma Ma Emma Ma As geopolitical tensions intensify, China’s steel sector – the world’s largest – is facing trade-restrictive measures in overseas markets and shrinking margins, but the country must strive to avoid the mistakes of America’s rust belt, according to an article in the Communist Party’s top theoretical journal. The piece, published in the latest issue of the Qiushi Journal and written jointly by the journal and the China Iron and Steel Association, argued that China should not allow its steel sector... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3365325/chinas-steel-sector-must-avoid-us-rust-belts-fate-party-journal?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3365325/chinas-steel-sector-must-avoid-us-rust-belts-fate-party-journal?utm_source=rss_feed Wed, 26 Aug 2026 14:00:08 +0000 Sherry Wang Sherry Wang Beijing has vowed to develop emerging industries such as 6G and robotics into new drivers of economic growth by the end of the decade, while pledging renewed efforts to curb cutthroat competition in the domestic automotive industry. Vice-minister of Industry and Information Technology Xin Guobin outlined plans through 2030 to develop a range of hi-tech industries as new pillars of the economy and sources of future growth, from next-generation 6G communications and quantum technology to... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3365332/china-targets-hi-tech-pillars-2030-fuel-economic-growth?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3365332/china-targets-hi-tech-pillars-2030-fuel-economic-growth?utm_source=rss_feed Wed, 26 Aug 2026 11:00:11 +0000 Sherry Wang Sherry Wang As China is set to flesh out rules that would put individual investors on the same regulatory footing as companies when it comes to outbound investment, covering everything from purchases of overseas property to acquisitions of foreign companies, legal experts said the move will close grey areas long used by wealthy individuals to channel assets abroad. The National Development and Reform Commission (NDRC) on Friday released a draft revision of its measures governing outbound investment and... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3365206/china-moves-close-regulatory-loopholes-overseas-investment-wealthy-individuals?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3365206/china-moves-close-regulatory-loopholes-overseas-investment-wealthy-individuals?utm_source=rss_feed Tue, 25 Aug 2026 11:30:07 +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 Emma Ma Emma Ma Shanghai has announced further cuts to minimum down‑payment requirements for homebuyers, joining Beijing to become the latest top-tier Chinese city to ease curbs in the hopes of engineering a broad recovery for the country’s struggling property market. The minimum down payment for buying a second home was reduced from 20 to 15 per cent, bringing it in line with the threshold for first-time homebuyers, the local government announced on Thursday. Encouraging a recovery in new-home sales is part of... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3364692/shanghai-lowers-second-home-down-payments-will-it-boost-property-market?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3364692/shanghai-lowers-second-home-down-payments-will-it-boost-property-market?utm_source=rss_feed Thu, 20 Aug 2026 09:27:23 +0000 He Huifeng He Huifeng China is turning to its counties and townships for a fresh push to revive consumer spending, with Beijing rolling out measures to upgrade local shops, attract brands and expand services, as weak domestic demand continues to drag growth. The Ministry of Commerce and other departments issued an 18-point joint guideline on Tuesday, which included measures ranging from renovating county and township commercial centres and rural markets to encouraging domestic and international brands to open... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3364437/beijing-eyes-rural-markets-local-town-centres-tackle-national-consumption-woes?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3364437/beijing-eyes-rural-markets-local-town-centres-tackle-national-consumption-woes?utm_source=rss_feed Tue, 18 Aug 2026 11:00:06 +0000 Zhu Wenqian Zhu Wenqian New home prices in China’s four first-tier cities were flat on average in July from June, bringing an end to a four-month rebound, as analysts said month-on-month readings had weakened amid seasonal headwinds and an unusually rainy summer, further highlighting the urgency of stabilising the nation’s property market. Shanghai and Shenzhen saw new home prices edge up 0.2 per cent in July from June, while Guangzhou posted a 0.1 per cent gain, according to data released by the National Bureau of... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3364291/chinas-first-tier-new-home-prices-flat-july-ending-4-month-rebound?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3364291/chinas-first-tier-new-home-prices-flat-july-ending-4-month-rebound?utm_source=rss_feed Mon, 17 Aug 2026 09:04:58 +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 Zhu Wenqian Zhu Wenqian China’s first online gaming billionaire has acquired the Mia Hotel in downtown Shanghai in a deal worth about 220 million yuan (US$32.6 million), becoming one of the latest investors to bet on a turnaround in the country’s long-suffering property market. Chen Tianqiao – a reclusive entrepreneur known for his global investment portfolio – bought the hotel from Singapore-headquartered investment firm GLP at a below-market price, with analysts describing the deal as a “sound investment”. The... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3364076/reclusive-chinese-billionaire-strikes-us33m-deal-take-over-shanghai-hotel?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3364076/reclusive-chinese-billionaire-strikes-us33m-deal-take-over-shanghai-hotel?utm_source=rss_feed Sat, 15 Aug 2026 06:00:10 +0000 Raymond Ma,Neil Denslow Raymond Ma,Neil Denslow SMIC, China’s biggest contract chipmaker, is planning to boost capacity after beating earnings expectations amid the artificial intelligence (AI) boom. Demand is “far exceeding our previous expectations”, so the company is adjusting expansion plans and may add more equipment at existing sites, chief executive officer Zhao Haijun said on an earnings call on Friday. He didn’t provide details. The chipmaker’s shares gained 4.8 per cent in Hong Kong trading after it more than tripled second-quarter... https://www-scmp-com.libproxy1.nus.edu.sg/plus/tech/tech-war/article/3364024/smic-eyes-expansion-amid-ai-boom-zhu-rongji-dies-shein-nears-ipo?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/plus/tech/tech-war/article/3364024/smic-eyes-expansion-amid-ai-boom-zhu-rongji-dies-shein-nears-ipo?utm_source=rss_feed Fri, 14 Aug 2026 09:00:30 +0000