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China economy

China economy
Breaking news and analysis on China’s economy, including its opening up, the US-China trade war, the impact of tariffs and trade talks, growth rates and other key economic data, the Belt and Road Initiative, and Greater Bay Area plan.
Chinese consumers are spending cautiously with 120 million fewer active credit cards users than a peak in 2022 as the nation experiences a slow economy. Photo: AFP
Banking & finance

Millions of Chinese consumers ditch their credit cards amid weak retail spending

Banks report there are 120 million fewer active credit cards in China with 687 million customer accounts, a dramatic drop from 2022’s peak.

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International Property

Property challenges put Chinese firms’ go-global plans at risk: JLL

China trade

Chinese traders in Iran keep business afloat as war capsizes naval shipping

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Education

Letters | Study abroad returnees affirm China’s growth and global engagement

Readers discuss recent figures on overseas talent, and the new rules for dog-friendly restaurants in Hong Kong.

Students proceed through Harvard Yard during commencement ceremonies at Harvard University, on May 29, 2025, in Cambridge, Massachusetts, the US. Photo: AP
China education

‘Natural’ choice: why Unesco’s new STEM education centre is based in Shanghai

China is working with the UN agency to help the world’s least developed countries advance technical education and grow their talent pools.

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Mainland China

Will China’s residency changes to social insurance unlock economic growth?

The State Council’s decision to decouple household registration from welfare services could have benefits for society as a whole, analysts say.

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China manufacturing

China told the solar industry to cut capacity. Firms built new factories anyway

Beijing has been striving to rein in severe overcapacity in the solar industry. But the sector is still plagued by illegal facilities, an insider says.

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Chinese workers prepare panels that will be part of a large floating solar farm project in the central Anhui province. Photo: Getty Images
China stock market

China’s property developers seek semiconductor salvation with chip side-hustles

Unprofitable real estate firms see shares soar after buying into silicon assets, and analysts weigh whether it is a safe bet or banking on a big bailout.

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China-Russia relations

Putin left China, with no pipeline deal. Why is the valve still closed?

Though this week’s China-Russia summit featured many agreements, none progressed the long-delayed Power of Siberia 2 natural gas pipeline.

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Mainland China

China removes hukou hurdle for migrant workers in social insurance shake-up

Giving migrant and gig workers full social insurance access where they work is latest move to boost free flow of capital and talent.

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Migrant workers in Yunnan province head to a railway station during Chinese New Year in February 2024. Photo: VCG via Getty Images
US-China trade war

China’s top trade negotiator urges Apec to grow economic pie, divide it fairly

At ministerial meeting in Suzhou, Li Chenggang urges representatives of 21 economies to ‘reject zero-sum thinking’.

Li Chenggang, China’s international trade representative and a vice-minister of commerce, speaks during the opening ceremony of the Apec ministerial meeting in Suzhou, Jiangsu province, on Friday. Photo: EPA
China consumption

HSBC cuts China retail sales forecast by nearly half on property, job pressures

Consumption is facing renewed pressure as a weak labour market and diminishing returns from subsidies cloud outlook, the bank says.

China food security

How China and Kazakhstan plan to boost food security through trade

The agreement highlights Beijing’s push to rewire agricultural supply chains, as it seeks to reduce vulnerability in global markets.

China-EU relations

China overtakes US to become top foreign investor in Germany

Deteriorating transatlantic relationship and high energy and labour costs are making American firms think twice before moving into German market.

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President Xi Jinping welcomes German Chancellor Friedrich Merz at the State Guest House in Beijing on February 25. Photo: DPA
Semiconductors

China’s biggest contract chipmaker clears final hurdle for US$6 billion takeover

SMNC is to become a wholly owned subsidiary of SMIC, boosting the semiconductor manufacturer’s prowess and market position.

An electronic board shows stock prices in the Lujiazui financial district of Shanghai, China. Photo: Reuters
Belt and Road Initiative

China’s new US$10.7 billion canal near completion to boost Asean trade links

The Pinglu Canal – a US$10 billion waterway connecting China’s heartlands to the Gulf of Tonkin – will begin trial operations as soon as September.

US-China trade war

From mine to market: how China is closing critical mineral security gaps

New law coordinates control over the full supply chain as Beijing frames minerals as a national security priority.

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China-Russia relations

China and Russia unite on world order, but Putin departs without concrete gains

Analysts say Beijing’s position in managing three-way ties appears to be strengthened after hosting Donald Trump and Vladimir Putin.

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Most of the deals signed between Russian President Vladimir Putin (left) and Chinese President Xi Jinping on Wednesday are symbolic, according to analysts. Pool photo: Reuters via AP
China energy security

As Chinese supertankers cross Strait of Hormuz, is the crisis starting to ease?

Two Chinese tankers were among group of vessels transiting vital waterway on Wednesday, but was it a one-off or the start of a new trend?

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United States

US jobless claims fall as lay-offs remain low despite economic uncertainty

Despite historically low lay-offs, the labour market appears to be stuck in what economists call a ‘low-hire, low-fire’ state.

China technology

AI gives China ‘God’s-eye view’ of green sector as data-centre demand booms

Alibaba and Peking University map nation’s extensive green-energy sites – a move that could help stabilise national grid amid surge in computing-power needs.

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Rows of solar panels are seen at a photovoltaic farm in Datong, China. Photo: AP
China trade

Asia-Pacific trade risks loom large as Apec official warns of protectionism

China is urged to evolve as a world buyer, ahead of ministers’ gathering in Suzhou where a raft of far-reaching trade issues will be discussed.

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Chinese-made vehicles wait to be exported at a port in Jiangsu province on April 27. Photo: AFP
China's economic recovery

China’s corporate earnings lag behind stock market gains, survey finds

Equities post strong gains driven by improved market sentiment and tech optimism, though profit growth lags, a new survey shows.

Yuan

China’s yuan hits 3-year high as global banks issue bullish forecasts

Beijing has set the yuan at its strongest level against the US dollar since early 2023, with banks projecting further appreciation.

China trade

Ex-mayor calls for stronger yuan, tariff cuts to reduce China’s trade surplus

Huang Qifan says coordinated policies, including gradual yuan appreciation and lowering of tariffs, are needed to address trade imbalances.

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Huang Qifan, former mayor of Chongqing, speaks at the Tsinghua PBCSF Global Finance Forum in Chengdu on Tuesday. Photo: Handout
Electric & new energy vehicles

China’s Chery plans for 1m EVs sold abroad amid global energy crisis

Anhui-based carmaker anticipates 27 per cent increase in foreign deliveries in 2026 as battery ranges improve and oil prices rise.

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Employees work on a factory production line for Chery’s electric vehicles in China’s Anhui province. Photo: Reuters
US-China trade war

China says US agreed to a maximum tariff rate. Could the trade war be waning?

Beijing says Washington agreed to keep future trade levies at numbers set in trade talks last year.

China exports

Japanese firms warn of ‘severe’ magnet shortages as China’s exports remain low

China’s exports of rare earth magnets to Japan recovered only modestly last month, with Japanese firms warning of ‘severe’ shortages.

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