https://www-scmp-com.libproxy1.nus.edu.sg/rss/519216/feed Xinyi joined the Post in 2024, starting out in Hong Kong. She previously reported on business news in Singapore and taught writing at a university in Shanghai. She graduated with a degree in anthropology from Yale-NUS College. en https://assets-v2.i-scmp.com/production/static/img/icons/scmp-meta-1200x630.png https://www-scmp-com.libproxy1.nus.edu.sg 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 Xinyi Wu,Mandy Zuo,Alice Li Xinyi Wu,Mandy Zuo,Alice Li The United States and China released details about the non-sensitive goods set for tariff reductions and their agreement to set up an agricultural trade working group after President Xi Jinping’s state visit to the US last week, though any progress on the two countries’ dispute over rare earths remains absent from official statements. The White House released the lists of the US$30 billion worth of goods on each side recommended for tariff reductions on Sunday, which comprised 77 categories of... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3369036/us-china-slash-tariffs-basic-goods-crucial-rare-earths-debate-left-record?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3369036/us-china-slash-tariffs-basic-goods-crucial-rare-earths-debate-left-record?utm_source=rss_feed Mon, 28 Sep 2026 07:00:36 +0000 Xinyi Wu Xinyi Wu Global debt climbed to a record high of more than US$365 trillion in the first half of the year, with China and the United States accounting for the bulk of the increase, according to the latest findings by the Institute of International Finance (IIF) that come amid mounting concerns over global fiscal sustainability. The figure reflects total debt across all four major borrowing sectors – government, household, financial and non-financial corporate – in more than 100 mature and emerging market... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3368552/led-china-and-us-borrowing-world-now-owes-record-us365-trillion-debt-iif?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3368552/led-china-and-us-borrowing-world-now-owes-record-us365-trillion-debt-iif?utm_source=rss_feed Wed, 23 Sep 2026 15:00:10 +0000 Xinyi Wu Xinyi Wu As American farmers begin harvesting soybeans across the Midwest this month, some are feeling a sense of relief absent a year ago, when China – which typically buys around half of all US soybean exports – halted imports amid an escalating trade war. This season is unfolding differently. Ahead of President Xi Jinping’s coming meeting with US President Donald Trump in Washington this week, China has rapidly scaled up purchases of American soybeans once again. “US farmers genuinely appreciate the... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3368353/once-key-economic-weapon-us-china-soybean-trade-may-now-offer-rare-common-ground?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3368353/once-key-economic-weapon-us-china-soybean-trade-may-now-offer-rare-common-ground?utm_source=rss_feed Tue, 22 Sep 2026 09:00:09 +0000 Xinyi Wu Xinyi Wu China’s central bank has pledged to further open its financial sector during a meeting to solicit feedback from foreign financial institutions, amid broader efforts to shore up foreign corporate confidence and accelerate yuan internationalisation. Speaking to representatives from 15 foreign banks and investment firms on Monday, People’s Bank of China governor Pan Gongsheng vowed to promote “high-level financial opening-up”. “[We will] steadily expand two-way financial market access, optimise... https://www-scmp-com.libproxy1.nus.edu.sg/economy/article/3368336/china-signals-greater-market-access-offshore-yuan-growth-meeting-banking-giants?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/article/3368336/china-signals-greater-market-access-offshore-yuan-growth-meeting-banking-giants?utm_source=rss_feed Tue, 22 Sep 2026 05:17:11 +0000 Xinyi Wu Xinyi Wu Following the rate increase by the US Federal Reserve, some analysts argue Beijing may still push ahead with rate cuts this year to shore up flagging domestic growth, though a rate increase by the US typically limits room for monetary easing by China’s central bank. The Fed raised interest rates for the first time since 2023 on Wednesday, bringing the benchmark target range up 0.25 percentage points to between 3.75 and 4 per cent. The Federal Reserve’s move has not “significantly” narrowed... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3367851/after-us-feds-rate-increase-will-china-still-move-ahead-monetary-easing?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3367851/after-us-feds-rate-increase-will-china-still-move-ahead-monetary-easing?utm_source=rss_feed Thu, 17 Sep 2026 11:00:05 +0000 Xinyi Wu Xinyi Wu China’s urban youth unemployment rose last month, as a record influx of university graduates struggles to find work in a job market weighed down by weak domestic demand and the growing adoption of artificial intelligence. The jobless rate for those aged 16 to 24, excluding students, rose to 18.9 per cent in August from 17.9 per cent in July, according to data released by the National Bureau of Statistics on Thursday. This figure, as well as the identical number from August last year, represents... https://www-scmp-com.libproxy1.nus.edu.sg/economy/economic-indicators/article/3367869/record-influx-university-graduates-pushes-chinas-youth-unemployment-rate-189?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/economic-indicators/article/3367869/record-influx-university-graduates-pushes-chinas-youth-unemployment-rate-189?utm_source=rss_feed Thu, 17 Sep 2026 09:57:38 +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 As the shutdown of Saudi Arabia’s major oil pipeline tightens global crude supply, shipments to China remain relatively insulated in the near term, though rising prices and freight costs are set to dampen demand, according to analysts. Drone attacks launched from Iraq forced Saudi Arabia to shut its East-West pipeline, which connects its eastern oilfields to Yanbu port on the Red Sea and serves as a vital bypass around the Strait of Hormuz, where transit remains disrupted. The closure late last... https://www-scmp-com.libproxy1.nus.edu.sg/economy/article/3367467/chinas-oil-demand-could-falter-saudi-pipeline-shutdown-raises-costs?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/article/3367467/chinas-oil-demand-could-falter-saudi-pipeline-shutdown-raises-costs?utm_source=rss_feed Mon, 14 Sep 2026 12:30:11 +0000 Xinyi Wu Xinyi Wu The Japanese yen has climbed from multi-decade lows, driven by shifting policy expectations and returning domestic capital, putting the yen carry trade – a popular global investment strategy – back in the spotlight and raising questions about its long-term viability. Having strengthened by more than 3 per cent since the start of the month to about 153.5 against the US dollar, the currency is trading near a seven-month high and above levels reached after a rare joint US-Japan market intervention... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3367246/yen-carry-trade-starting-unravel-japans-currency-strengthens?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3367246/yen-carry-trade-starting-unravel-japans-currency-strengthens?utm_source=rss_feed Sat, 12 Sep 2026 04:00:12 +0000 Xinyi Wu Xinyi Wu While German companies operating in China increasingly view the global expansion of local firms as a chance to collaborate, the window of opportunity is narrowing as Chinese firms rapidly develop the expertise needed to expand overseas on their own, according to a new report. The internalisation of Chinese companies has emerged as the most frequently cited business opportunity for German firms in China, selected by 36 per cent of survey respondents and up from 20 per cent in 2022, according to a... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3367032/chinas-global-expansion-offers-german-firms-opportunity-they-see-window-narrowing?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3367032/chinas-global-expansion-offers-german-firms-opportunity-they-see-window-narrowing?utm_source=rss_feed Thu, 10 Sep 2026 08:00:07 +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 Xinyi Wu Xinyi Wu China is leaning on its cultural heritage to jolt sluggish domestic spending, rolling out a push to modernise industries ranging from silk and tea to liquor, ceramics and traditional Chinese medicine. Authorities laid out plans to cultivate 50 leading enterprises in heritage industries, each with a scale of at least 10 billion yuan (US$1.49 billion), by 2028, according to a statement released on Monday by six government departments. “Many classic products are perceived as somewhat outdated and... https://www-scmp-com.libproxy1.nus.edu.sg/economy/policy/article/3366634/china-unveils-plan-revamp-classic-products-bid-boost-sluggish-consumer-spending?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/policy/article/3366634/china-unveils-plan-revamp-classic-products-bid-boost-sluggish-consumer-spending?utm_source=rss_feed Mon, 07 Sep 2026 13:30:09 +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 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 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. SCMP Plus readers... https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/china-economy/article/3366300/how-china-works-author-data-economy-robots-and-ai?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/plus/economy/china-economy/article/3366300/how-china-works-author-data-economy-robots-and-ai?utm_source=rss_feed Fri, 04 Sep 2026 03:33:24 +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 Xinyi Wu Xinyi Wu A US-backed company’s takeover of Venezuelan oilfields, some of which were previously managed by Chinese firms, has dealt a blow to Beijing’s oil-backed loans and yuan trade networks, analysts say. Through North American Blue Energy Partners (NABEP), a private company, the White House said the US had secured access to oilfields with 65 billion barrels of proven reserves in Venezuela – around one-fifth of the Latin American country’s total supply – including sites previously operated by Chinese... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3366119/direct-hit-china-dealt-blow-us-backed-firm-takes-over-venezuelan-oilfields?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3366119/direct-hit-china-dealt-blow-us-backed-firm-takes-over-venezuelan-oilfields?utm_source=rss_feed Wed, 02 Sep 2026 14:00:07 +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 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 Xinyi Wu Xinyi Wu China and Russia have signalled their willingness to boost the competitiveness of the Arctic shipping route, which is set to become more important as traditional routes between Asia and Europe remain vulnerable to disruption. Transport Minister Liu Wei and Alexey Likhachev, the director general of Rosatom – the Russian state nuclear company responsible for managing the Northern Sea Route – pledged in a video meeting on Thursday to strengthen cooperation on the route. Liu’s ministry said he... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3365612/china-and-russia-agree-boost-competitiveness-arctic-shipping-route?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3365612/china-and-russia-agree-boost-competitiveness-arctic-shipping-route?utm_source=rss_feed Fri, 28 Aug 2026 12:00:16 +0000 Xinyi Wu Xinyi Wu The United States has imposed sweeping sanctions on nearly 60 Iran-linked entities, spanning digital assets, technology, gold, aviation and shipping, as Washington seeks to “sever every economic lifeline” that sustains Tehran. Beijing denounced the measures, with the Chinese foreign ministry calling them “illegal unilateral sanctions” and vowing to “take all necessary measures to firmly safeguard its rights and interests”. With the fresh sanctions complicating an already delicate diplomatic... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3365466/china-and-iran-sanctions-what-us-moves-mean-beijing-and-its-retaliation-options?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3365466/china-and-iran-sanctions-what-us-moves-mean-beijing-and-its-retaliation-options?utm_source=rss_feed Thu, 27 Aug 2026 13:30:06 +0000 Xinyi Wu Xinyi Wu While new sanctions from the United States threaten to choke Tehran’s oil exports, analysts say the measures might not do much to stop China, Iran’s largest buyer, from continuing to buy Iranian crude, though the naval blockade has limited its flow. Washington has targeted shipping, alongside four other sectors, under its “economic D-Day” campaign against Iran, aiming to disrupt the Middle Eastern country’s crude revenue. Most of exported Iranian oil flows to independent Chinese refiners located... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3365322/us-threatens-d-day-iranian-economy-how-will-chinas-oil-supply-be-affected?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3365322/us-threatens-d-day-iranian-economy-how-will-chinas-oil-supply-be-affected?utm_source=rss_feed Wed, 26 Aug 2026 12:00:06 +0000 Xinyi Wu,Mandy Zuo Xinyi Wu,Mandy Zuo As tensions between the United States and Canada escalate, analysts say that Ottawa’s refusal to cede trade sovereignty to Washington over issues, including its economic ties to Beijing, has exposed the limits of American tariff pressure. Negotiations between the US and Canada broke down late Friday, with both sides accusing each other of adding unreasonable last-minute demands. Walking away from the negotiating table, Canada said that the US had introduced, among other measures, efforts to... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3365197/what-does-us-canada-trade-dispute-mean-china?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3365197/what-does-us-canada-trade-dispute-mean-china?utm_source=rss_feed Tue, 25 Aug 2026 13:00:07 +0000 Xinyi Wu Xinyi Wu With Washington claiming that the United States can “grow” out of its mounting fiscal burdens, some economists are sceptical that growth alone could absorb the country’s mountain of national debt, which just surpassed US$40 trillion. The milestone, reached last week, has amplified concerns about the long-term sustainability of maintaining such a massive debt pile – one that has doubled in size from a decade ago. Treasury Secretary Scott Bessent defended the trajectory last week, telling CNBC... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3365078/americas-us40tr-debt-gamble-getting-harder-ignore-economists-say-after-grow-goal?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3365078/americas-us40tr-debt-gamble-getting-harder-ignore-economists-say-after-grow-goal?utm_source=rss_feed Mon, 24 Aug 2026 13:00:10 +0000 Xinyi Wu Xinyi Wu China’s crude imports rebounded in July following a temporary ceasefire in the Strait of Hormuz, though analysts are doubtful the trend will continue as oil prices rise again. Chinese imports of crude from Gulf nations doubled month on month in July in terms of volume, while the value of those shipments rose 60.1 per cent, official customs data showed on Thursday. Purchases from the Gulf – dominated by Saudi Arabia and the United Arab Emirates – accounted for 27.6 per cent of China’s total crude... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3364708/chinas-gulf-oil-imports-rebound-july-after-iran-ceasefire-tighter-outlook-looms?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3364708/chinas-gulf-oil-imports-rebound-july-after-iran-ceasefire-tighter-outlook-looms?utm_source=rss_feed Thu, 20 Aug 2026 12:30:16 +0000 Xinyi Wu,Zhang Shidong Xinyi Wu,Zhang Shidong With a rare joint US-Japan market intervention weeks ago failing to rectify the weakness of the Japanese currency, Tokyo and Washington could be forced to launch another round of boosting efforts, with a deepening US Treasury rout expected to fuel the global yen carry trade, according to analysts. The yen has been on a sustained decline, falling to a 40-year low to trade above 163 per US dollar in late July. Though the US-Japan intervention briefly halted its slide, the currency has already... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3364596/why-historic-us-japan-intervention-has-failed-lift-pressure-yen?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3364596/why-historic-us-japan-intervention-has-failed-lift-pressure-yen?utm_source=rss_feed Wed, 19 Aug 2026 13:01:25 +0000 Sylvia Ma,Xinyi Wu Sylvia Ma,Xinyi Wu China cut its holdings of US Treasuries to a nearly 18-year low in June, as Beijing continued to diversify its foreign exchange reserves amid heightened geopolitical tensions and growing uncertainty over the policy outlook in the United States. Holdings fell to US$633.4 billion in June from US$659.3 billion in May, data released by the Treasury Department of the United States showed on Monday. The amount in June marked the lowest level since September 2008, when holdings fell to US$618.2 billion... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3364353/china-trims-us-treasury-holdings-amid-iran-war-fed-uncertainty?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3364353/china-trims-us-treasury-holdings-amid-iran-war-fed-uncertainty?utm_source=rss_feed Tue, 18 Aug 2026 02:00:26 +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 Xinyi Wu Xinyi Wu Li, a woman in her late twenties from southwestern China, is anxious about her coming interview for a 10-year US visa. She has big plans for her travels – a weeks-long stay next year that would be her first visit to the country – followed by a planned return trip in two years while pregnant so her child can attain American citizenship. But those plans have been thrown into doubt. Last week, US President Donald Trump signed an executive order seeking to end “birth tourism”, tightening scrutiny on... https://www-scmp-com.libproxy1.nus.edu.sg/economy/policy/article/3364055/how-us-crackdown-upending-plans-chinese-birth-tourists?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/policy/article/3364055/how-us-crackdown-upending-plans-chinese-birth-tourists?utm_source=rss_feed Fri, 14 Aug 2026 15:00:07 +0000 Xinyi Wu Xinyi Wu Arriving at his gate at Beijing Capital International Airport for a routine business trip to the Mongolian capital of Ulaanbaatar on Wednesday, Howard Deng was unaware he was about to take part in a Chinese aviation milestone. Air China flight 723 marked the first international service featuring the domestically produced C919 narrowbody jet from Commercial Aircraft Corporation of China (Comac), central to Beijing’s ambition to challenge the global duopoly of Boeing and Airbus. As one of 111... https://www-scmp-com.libproxy1.nus.edu.sg/economy/article/3363904/very-smooth-passenger-shares-experience-c919s-first-commercial-international-flight?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/article/3363904/very-smooth-passenger-shares-experience-c919s-first-commercial-international-flight?utm_source=rss_feed Thu, 13 Aug 2026 09:30:08 +0000 Xinyi Wu Xinyi Wu Chinese corporate expansion overseas is shifting from solar equipment to artificial intelligence-enabled industrial technology, with a new generation of companies targeting global markets from inception, according to analysts at Goldman Sachs. “China has entered the ‘Go Global 3.0’ era,” wrote the investment bank’s team, led by Jacqueline Du, in a research note published on Tuesday. The evolution moves beyond low-cost manufacturing goods and the “new three” sectors – electric vehicles,... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3363787/solar-ai-why-china-may-be-entering-its-go-global-30-era?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3363787/solar-ai-why-china-may-be-entering-its-go-global-30-era?utm_source=rss_feed Wed, 12 Aug 2026 12:00:15 +0000 Xinyi Wu Xinyi Wu When Francois Morin, China director at the World Nuclear Association – a leading international industry body – took a group of foreign nuclear engineers to a Shanghai Electric plant last year, the scale of production caught them off guard. Heavy machinery, from steam generators to reactor cores, was already assembled and ready for shipment to sites where construction had not even begun. The equipment towered over the delegates, many of whom were accustomed to supply chains back home that produce... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3363550/china-building-nuclear-reactors-faster-west-can-it-keep-pace?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3363550/china-building-nuclear-reactors-faster-west-can-it-keep-pace?utm_source=rss_feed Mon, 10 Aug 2026 22:00:11 +0000 Xinyi Wu Xinyi Wu Beijing has reaffirmed its 2030 nuclear-expansion target in its latest five-year plan for the power sector, following a new round of state approvals for eight reactor units. “By 2030, installed nuclear power capacity will reach around 110 million kilowatts [110 gigawatts],” authorities pledged in the document, released by the National Development and Reform Commission on Monday. While that would mark a sharp rise from China’s installed capacity of 68.5GW as of the end of June, according to data... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3362893/china-accelerates-nuclear-roll-out-new-reactor-plans-energy-security-push?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3362893/china-accelerates-nuclear-roll-out-new-reactor-plans-energy-security-push?utm_source=rss_feed Tue, 04 Aug 2026 06:30:24 +0000 Xinyi Wu Xinyi Wu China’s foreign exchange regulator has pledged to help further open up the forex market, while strengthening oversight of cross-border capital flows in the second half of the year. “[We will] steadily expand the institutional opening-up in the foreign exchange sector,” the State Administration of Foreign Exchange (SAFE) said in a statement on Sunday. The regulator, which had held a work meeting on Saturday to lay out key priorities for the rest of the year, also pledged to promote trade... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3362716/chinas-forex-regulator-pledges-open-market-tighten-capital-oversight?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3362716/chinas-forex-regulator-pledges-open-market-tighten-capital-oversight?utm_source=rss_feed Sun, 02 Aug 2026 13:02:15 +0000 Xinyi Wu Xinyi Wu China has raised the death toll from last week’s flash floods in the northwestern province of Gansu as large parts of the country continue to battle the impact of heavy rainfall and swollen rivers. State news agency Xinhua reported on Sunday that the death toll in Gansu’s Weiyuan county had risen from 10 to 25 following flash floods on July 26, which had also injured a further 23 people. The National Commission for Disaster Prevention, Reduction and Relief had asked the provincial government to... https://www-scmp-com.libproxy1.nus.edu.sg/news/china/article/3362695/china-floods-large-parts-country-remain-alert-gansu-province-death-toll-rises?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/china/article/3362695/china-floods-large-parts-country-remain-alert-gansu-province-death-toll-rises?utm_source=rss_feed Sun, 02 Aug 2026 06:58:42 +0000 Xinyi Wu Xinyi Wu Chinese and German carmakers met in their first joint working group session of the year to align standards for smart connected vehicles, aiming for cooperation amid mounting trade friction over Chinese exports to Europe. More than 40 representatives from industry bodies, research institutes and carmakers – including China’s BYD, Geely, SAIC, Xpeng and Xiaomi, alongside Germany’s Mercedes-Benz, BMW, Volkswagen and Porsche – attended the meeting in Beijing, according to a statement by the China... https://www-scmp-com.libproxy1.nus.edu.sg/economy/article/3362501/china-germany-aim-align-smart-vehicle-standards-amid-escalating-trade-friction?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/article/3362501/china-germany-aim-align-smart-vehicle-standards-amid-escalating-trade-friction?utm_source=rss_feed Fri, 31 Jul 2026 07:00:06 +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 Xinyi Wu Xinyi Wu Advanced technologies now account for around one in every six valid invention patents in China, according to official data. By the end of last month, valid invention patents in fields such as artificial intelligence, cloud computing and big data made up 16.5 per cent of the country’s total valid patents, the China National Intellectual Property Administration said on Wednesday. “The accelerated accumulation of patents in cutting-edge sectors is empowering and enhancing the creation of new... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3362232/advanced-technologies-now-account-1-6-valid-invention-patents-china?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3362232/advanced-technologies-now-account-1-6-valid-invention-patents-china?utm_source=rss_feed Wed, 29 Jul 2026 08:00:21 +0000 Xinyi Wu Xinyi Wu China’s Ministry of Commerce has released a document rebutting claims of Chinese overcapacity, arguing that its industrial output is not a result of subsidies and insufficient domestic demand, but is instead driven by innovation and reform. “There is no necessary connection between industrial subsidies and overcapacity,” the ministry said in the position paper published on Tuesday. Many countries adopt subsidies in pursuit of their developmental needs, the document added, citing Washington’s... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3362138/china-pushes-back-against-western-overcapacity-claims-new-document?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3362138/china-pushes-back-against-western-overcapacity-claims-new-document?utm_source=rss_feed Tue, 28 Jul 2026 10:00:58 +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 Xinyi Wu Xinyi Wu Beijing and Washington are actively soliciting industry feedback on potential bilateral tariff reductions under the newly established board of trade, according to China’s commerce ministry. “The Chinese side is widely soliciting views from stakeholders – including domestic firms, business associations, local governments as well as American firms and business associations – on relevant tariff reduction arrangements,” Meng Huating, director of the Ministry of Commerce’s Department of Foreign... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3361623/tariffs-china-and-us-ask-industry-us30-billion-question?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3361623/tariffs-china-and-us-ask-industry-us30-billion-question?utm_source=rss_feed Thu, 23 Jul 2026 12:00:12 +0000 Emma Ma,Xinyi Wu Emma Ma,Xinyi Wu China’s urban youth unemployment rate inched down in June, marking three straight months of decline, though the country’s labour market remains saddled with headwinds as soft demand persists and graduation season approaches. The jobless rate for the 16-24 age bracket, excluding students, fell to 14.9 per cent in June, a monthly drop of 0.7 percentage points, according to China’s National Bureau of Statistics (NBS). This cooling in youth unemployment helped push the overall urban jobless rate... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3361289/chinas-youth-jobless-rate-edges-down-june-third-consecutive-month?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3361289/chinas-youth-jobless-rate-edges-down-june-third-consecutive-month?utm_source=rss_feed Tue, 21 Jul 2026 03:28:09 +0000 Xinyi Wu Xinyi Wu China’s crude imports continued to fall in June, driven by a steep decline in shipments from the Middle East, while purchases of other energy sources recovered in a sign the country may be seeking to reduce reliance on volatile oil imports. Chinese crude imports from Gulf nations plunged 76.1 per cent year on year in June by volume, according to customs data released on Monday. Purchases from Russia also declined for a second consecutive month, slipping 0.6 per cent year on year, as market... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3361206/chinas-crude-purchases-plunge-june-amid-middle-east-supply-drop-higher-prices?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3361206/chinas-crude-purchases-plunge-june-amid-middle-east-supply-drop-higher-prices?utm_source=rss_feed Mon, 20 Jul 2026 12:30:18 +0000 Xinyi Wu Xinyi Wu Delegates representing a United States congressional advisory panel are making their first trip to China in seven years to investigate how the two countries’ economic and trade relationship affects national security. The US-China Economic and Security Review Commission has requested meetings with Chinese government officials, academics and industry leaders in key technology sectors such as artificial intelligence, biotechnology and robotics. It said it would also meet with US diplomats and... https://www-scmp-com.libproxy1.nus.edu.sg/news/china/diplomacy/article/3361092/us-party-heads-china-examine-national-security-implications-trade-relationship?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/china/diplomacy/article/3361092/us-party-heads-china-examine-national-security-implications-trade-relationship?utm_source=rss_feed Sun, 19 Jul 2026 11:00:09 +0000 Xinyi Wu Xinyi Wu As Spain and Argentina prepare to go head to head in the World Cup final, China may have already claimed the tournament’s main economic prize without stepping onto the pitch. This year’s World Cup has generated a substantial windfall for many Chinese businesses that produce and export sports items and merchandise to global markets. Zheng Ziyi, who runs an apparel export business in China’s central Jiangxi province, said he had seen orders for Argentina jerseys surge after the team defeated... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3360943/china-did-not-qualify-world-cup-it-may-have-won-economic-terms?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3360943/china-did-not-qualify-world-cup-it-may-have-won-economic-terms?utm_source=rss_feed Sun, 19 Jul 2026 08:00:06 +0000 Xinyi Wu Xinyi Wu Even a significant recovery in China’s fertility rate would still fail to slow down the country’s ageing process before 2050, a new report has found, though achieving higher birth rates remains critical to preventing a more severe crisis later. “A rapid increase in China’s ageing population rate before 2050 is inevitable,” wrote analysts led by Li Xunlei, chief economist at Zhongtai Securities, in the report. Under an optimistic scenario in which China’s total fertility rate rose to above 1.3... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3360816/chinas-population-ageing-seen-inevitable-2050-why-push-more-births?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3360816/chinas-population-ageing-seen-inevitable-2050-why-push-more-births?utm_source=rss_feed Thu, 16 Jul 2026 23:30:10 +0000 Xinyi Wu Xinyi Wu Officials from China’s central bank have pledged to introduce further measures to make it easier for global investors to access yuan-denominated assets, as Beijing views the recent appreciation of the yuan and surge in demand for panda bonds as reflecting rising global recognition of the Chinese currency. Speaking at a press conference on Wednesday, officials highlighted the yuan’s strong performance in the first half of the year despite a volatile global economic landscape. The currency... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3360693/china-eyes-broader-global-access-yuan-assets-panda-bond-demand-surges?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3360693/china-eyes-broader-global-access-yuan-assets-panda-bond-demand-surges?utm_source=rss_feed Wed, 15 Jul 2026 12:01:48 +0000