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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.
Illustration: Henry Wong
China-EU relations

Open Questions | Pascal Lamy says Europe at ‘moment of truth’ on China trade

Former World Trade Organization chief believes Chinese authorities’ lack of interest in addressing structural macroeconomic imbalance presents a ‘huge problem’ for European Union.

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Infrastructure

Can the new Pinglu Canal become China’s Yangtze of the southwest?

China-EU relations

Brussels says next round of China-EU trade talks will be in Beijing in October

China debt

China publicly names officials in ‘unprecedented’ debt crackdown. Can it work?

The escalating campaign comes as officially identified hidden debt shrinks, even as broader estimates of local financing vehicle liabilities remain far larger.

Workers are seen at the construction site of a railway bridge over Yachi river in Bijie, Guizhou province. Photo: Reuters
China consumption

Pets and personal touches: how China’s luxury hotel market is changing

Today’s Chinese guests expect hotels to offer cultural experiences, personalised touches and a pet-friendly environment, Hang Lung director says.

China manufacturing

Xi’s industrial power play sees China bet big on AI, chips and smarter factories

Beijing is accelerating its push for resilient supply chains amid geopolitical tensions and domestic weaknesses.

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China jobs

Record graduate influx pushes China’s youth unemployment rate to 18.9%

Anxieties over AI’s growing threat to entry-level roles add to existing concerns about economic doldrums caused by weak domestic demand.

A university graduate promotes products via livestreaming in Milin, in western China’s Tibet autonomous region, on September 14. Photo: Xinhua
Banking & finance

Fed rate hike risks worsening China’s economic divide

The first US interest rate increase in more than three years is unlikely to damp China’s surging tech exports while potentially worsening a squeeze on other manufacturers.

China travel

China airports surge in global-connectivity ranking, led by Shanghai, Guangzhou

Third terminal helps Guangzhou Baiyun International Airport jump 17 places in global standings, while airports in Beijing, Shanghai and Hong Kong also improve.

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China's space programme

In Focus | How China is turning Hainan from a tourist island into a major aerospace hub

Factories, supercomputing centres and satellite businesses are springing up in the province as officials push to build a fully fledged aerospace ecosystem.

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Illustration: Huy Truong
John Lee policy address 2026

Hong Kong targets gold trading, FPS-UnionPay link to boost yuan use

‘We will consolidate and enhance Hong Kong’s status as an international financial centre,’ John Lee says.

The HKMA will promote linking the Faster Payment System with mainland China’s bank card and payment system UnionPay by the end of the year. Photo: Nora Tam
Semiconductors

China’s AI chip stocks face crucial test as MetaX lock-up period expires

The Chinese AI chip firm enjoyed a blockbuster market debut in December, but its stock is now under pressure ahead of a major share release.

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China-EU relations

Von der Leyen vows tough stance with China, using EU’s tools to rebalance trade

Brussels is looking to reduce reliance on Chinese raw materials, and Beijing again urges the EU to avoid protectionist policies.

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China exports

China launches Pinglu Canal, slashing transit time to Southeast Asia

Newly opened Pinglu Canal will allow cargo from inland provinces to reach the Gulf of Tonkin, avoiding a 560km detour, deepening trade ties.

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A trial vessel moving through the Pinglu Canal in south China’s Guangxi Zhuang autonomous region. Photo: Xinhua
Belt and Road 2026

Ancient Silk Road to modern Belt and Road: how Hong Kong bridges China and the Middle East

As the Middle East seeks economic diversification, Hong Kong acts as the financial gateway for investment.

In 2025, the Middle East was Hong Kong’s 10th largest trading partner, with bilateral trade in goods of HK$192.8 billion, making it a significant stand in the various t rade networks that make up the Belt and Road Initiative. Photo: Karim Sahib, AFP
Law

In Focus | Is China’s new local surtax a game-changer, or a bureaucratic tweak?

Analysts say the proposed surtax – a reworking of three local revenue sources into one semi-autonomous levy – should help streamline finances.

US-China relations

ICE death, AI military strike proposal, Huawei trial: 7 US-China relations reads

From a drone ban to birth tourism, here are highlights from the SCMP’s overseas correspondents in the first half of September 2026.

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Artificial intelligence

DeepSeek AI engineer slams Anthropic, OpenAI over ‘pacing’ calls, invokes Hitler

Heated rhetoric highlights tensions over how quickly artificial intelligence should advance and who should shape its future amid mounting safety concerns.

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Icons for some AI-based apps are seen on a smartphone. Photo: AFP
Semiconductors

As AI race with US heats up, China targets US$4.5b tech goal in new 5-year plan

Plan forecasts that operating revenue of enterprises and manufacturers in related sectors will exceed 30 trillion yuan by 2030.

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Artificial intelligence

Forget AI KPIs: how China’s tech giants are rationing tokens for employees

Employees at Baidu, Alibaba, Tencent and ByteDance all report tightening token policies, with some staff asked to co-pay to use US AI models.

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China consumption

China’s economy to see slower loan growth amid sluggish consumption, investment

Loans reverse record contraction a month earlier but fall far short of expectations as property slump drags and deposits rise.

Pedestrians walk past a branch of Bank of China in Beijing. Photo: Reuters
China trade

German firms want tougher action on Beijing. So why are investments in China up?

Companies are caught between China’s growing competitive threat and its importance as a market, manufacturer and source of growth.

A worker on a car assembly line at the FAW-Volkswagen factory in Qingdao, Shandong province. Photo: AFP
China GDP

China’s worsening retail slowdown bolsters case for stimulus

Slower-than-expected retail sales growth and a deepening investment slump support the argument for government investment even as industrial output booms.

India

Opinion | Western businesses need to crack the new CIA: China, India and Asean

The businesses that adapt early to engage China, India and Asean will help draft Asia’s next chapter and profit from it.

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China’s private sector

China cracks down on big firms delaying payments to cash-strapped SMEs

New rules require large companies to pay suppliers within 60 days, with penalties for deliberate delays and incentives for clearing backlogs.

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A man walks past the headquarters of the People’s Bank of China, the central bank, in Beijing. Photo: Reuters
Banking & finance

Citigroup hires veteran banker Sophia Wang to lead China institutional sales

Wang has more than 20 years of experience in the field, and her hire comes after Citi announced plans to expand its corporate headcount.

The Citigroup Tower is seen in Shanghai. Photo: Shutterstock
China's economic recovery

Pressure on China’s economy persists in August as investment, consumption slow

The drop in overall fixed-asset investment widened last month, as retail sales grew 0.4 per cent year on year.

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Brics

Brics pivots to pragmatic de-dollarisation via payment links: analysts

Analysts say lack of movement towards a common currency reflects a more pragmatic approach to reducing reliance on US dollar.

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