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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.
Microsoft has closed its research lab in Shanghai’s Zhangjiang hi-tech zone, and has already removed its logo from the entrance. Photo: Wency Chen
Microsoft

Microsoft shutters AI lab in Shanghai, continuing China retreat

The IoT & AI Insider Lab in the Zhangjiang hi-tech zone likely closed in January or February, nearby workers say.

China airliners

Flying taxis: China clears way for first companies to begin offering services

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Science

How AI revolution at a Chinese coal mine is making profits soar

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China food security

Beijing bids adieu to ‘basic’ farmland with plan to supercharge soil

When it’s basic farmland vs ‘well-facilitated’ farmland, the latter considerably outperforms in cost and yield.

An aerial drone shot this month shows a farmer plowing a field in China’s Zhejiang province. China is making agriculture advancements more attainable with a new plan. Photo: Xinhua
China property

No respite in sight for Chinese developers as profits continue to slump

China Overseas Land & Investment’s profit sank 40 per cent to 15.6 billion yuan, while Country Garden trimmed its loss to 32.8 billion yuan.

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China trade

Lao Airlines cruising to first C909 – a milestone for the made-in-China aircraft

China’s aircraft manufacturer continues spreading its wings abroad with fresh deals to supply passenger jets to Asian neighbours.

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Banking & finance

Chinese banks raise consumer loan rates from record low to protect margins

Banks will offer consumer loans at 3 per cent to boost their net interest margins, which hit a low of 1.52 per cent at the end of last year.

Chinese banks are lifting their consumer loan rates. Photo: AFP
Robotics

Venture capital veteran Allen Zhu questions humanoid robots’ value

Zhu, who famously backed Didi Chuxing and RedNote, says early-stage venture capitalists should steer away from the embodied-AI sector.

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China's economic recovery

China’s capital outflow pressure may continue for now, top economists warn

Article on social media suggests US policy, low consumer sentiment will continue to motivate capital flight, though movement is likely to be slower.

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China's economic recovery

China’s factory activity accelerates in March even as US ramps up tariffs

China’s manufacturing activity hit a 12-month high as Beijing introduced a slew of measures to boost the economy.

China’s factory activity remained resilient in March despite US moves to raise tariffs on Chinese imports. Photo: Xinhua
Banking & finance

HSBC bets big on Hong Kong to tap Asia’s wealth-management boom: Elhedery

HSBC’s customers base increased to 6.2 million last year from 5.4 million, showing the importance of the city, Elhedery says.

Georges Elhedery, group CEO of HSBC, speaks at the bank’s Global Investment Summit last week. Photo: Handout
Electric & new energy vehicles

China to crack down on unfair EV price cuts to stabilise industry

China vows to combat unfair pricing and misinformation by EV players, as it aims to stabilise growth and profitability of the sector.

China property

Shanghai’s luxury property market thrives while mass housing segment deteriorates

More than 60 per cent of the 4,110 new homes in China priced above 30 million yuan were sold in Shanghai last year, according to CRIC data.

China-Russia relations

Car trouble: is a drop in China-Russia auto shipments a bad omen for trade?

As the US attempts to peel Russia away from China, Moscow and Beijing’s auto trade has slowed. Is Donald Trump’s plan working?

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China and Russia’s previously ironclad trade ties may be softening as the US attempts to bring Moscow out of Beijing’s orbit. Photo: Reuters
Art

Christie’s and Sotheby’s Hong Kong auctions underwhelm as sales hit 6-year low

The world’s leading auction houses made a combined US$89.2 million, the lowest since autumn 2018, according to data from ArtTactic.

“Grotto” by Nicholas Party is shown during the media preview on March 20, ahead of Sotheby’s Hong Kong auction. Photo: Nora Tam
Boao Forum for Asia

China’s back-to-back forums a reminder of how quickly things can change

At high-profile gatherings this week, notions of China’s rise and the West’s decline were in vogue – but in today’s world, attitudes change fast.

Electric & new energy vehicles

Self navigating to the top: why China leads the global autonomous-driving race

After stamping their authority on EV technology, Chinese firms make strides in adding self-driving features.

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China’s C919 passenger plane

Home-grown CJ-1000 engine to soon be tested on China’s C919 passenger jet

Aviation forum hears that engine’s performance in trial runs exceeds ‘most optimistic expectations’.

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A China Eastern Airlines C919 at Hong Kong International Airport in January. Photo: Eugene Lee
Mainland China

Editorial | China’s austerity is very different to that in US

Beijing is targeting wasteful spending on projects and misuse of public money by officials, not savings to finance tax cuts.

China trade

With its chips on the table, Taiwan seen avoiding the worst US tariffs

Taiwan falls under the 15 per cent of the world Trump has flagged for its trade imbalance with the US, so tariff risk still looms in coming days.

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China energy security

China’s non-fossil-fuel power capacity tops 2,000GW for first time ever

China Electricity Council data shows non-fossil fuels now account for 58.8 per cent of country’s total installed power capacity.

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Wind power turbines in the waters off Laizhou, Shandong province, in January. Photo: Xinhua
China's economic recovery

Why is Trump embracing law of the jungle, asks top Chinese economist

Wu Xiaoqiu says rising protectionist sentiment has dealt a severe blow to global economic recovery.

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Cargo containers stacked at Yantian port in Shenzhen, Guangdong province, in June last year. Photo: AFP
United States

Opinion | Trump’s executive orders will be no match for markets in grip of fear

Investors’ behaviour promises to thwart Trump’s economic agenda, just as they have forced past administrations to scramble for rescues.

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Boao Forum for Asia

Video | China’s vice-premier pledges more policy support and partnerships

China's economic recovery

Xi urges foreign firms to resist ‘acts that turn back the wheel of history’

Xi meets with business reps as China takes aim at unilateralism and protectionism while ramping up a charm offensive for foreign investors against the backdrop of two global conferences.

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President Xi Jinping spoke with foreign business leaders at the Great Hall of the People in Beijing on Friday. Photo: Reuters
Boao Forum for Asia

‘Unstoppable momentum’ vs ‘big challenges’ in China’s cross-border e-commerce

Former deputy secretary general for China’s State Council warns of a potential negative impact from foreign import tariffs on small packages.

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Shoppers in Britain carry promotional Shein bags in December. Photo: Reuters
TV shows and streaming video

Addictive China micro-dramas show how commercial demand fuels netcasting boom

The head of China’s body overseeing film and TV calls micro-dramas a ‘new growth pillar for China’s online audio and video industry’, with growing influence overseas.

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US-China trade war

Stephen Roach says trade war puts US on course for ‘cultural revolution’

The Yale economist lamented the path his country is taking under US President Donald Trump during a panel discussion at the Boao Forum.

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