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China's economic recovery

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China economy
Chinese tourists
China's economic recovery
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.
Hong Kong skyline. (Photo: SCMP)
Hong Kong economy

Fed rate cut boosts Hong Kong chief’s economy push

Lower interest rates may draw investors to Hong Kong stocks and property, as chief executive works to revive the city’s economy and its status as a global financial centre.

China economy

Open Questions | Dong Yu on China’s jobs crunch, AI and why plans matter

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China jobs

China’s job market woes deepen as youth unemployment hits record since 2023

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China-EU relations

Flagging imbalances in China, EU chamber urges course correction in 5-year plan

Exhorting the need for a ‘new, productive development model’, latest chamber position paper airs members’ grievances.

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Some of China’s manufacturing industries, including the new-energy sector, have been plagued by low-price competition, or involution. Photo: Xinhua
China consumption

From tourism to healthcare, China unveils a 19-point plan to get people spending

Support and investment incentives unveiled for sectors such as tourism, sports, healthcare and culture, while visa-free access and school holidays could be enhanced.

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China travel

China set for bumper ‘golden week’ travel rush in boost for economy

Travel operators report an uptick in demand for the coming National Day holiday, which should lift China’s consumer spending.

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China consumption

China’s Xi calls for building unified market to ‘secure an edge’ in global race

President says creation of a unified national market will be vital to achieving China’s development goals.

President Xi Jinping has called for more efforts to build a unified domestic market, as the country’s leaders begin drafting their next five-year plan. Photo: Xinhua
Mainland China

China to improve market-based use of key resources with 10-region pilot plan

Two-year undertaking will implement tailored measures to strengthen market mechanisms and foster high-quality development.

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Hong Kong property

Outlook clears for Hong Kong property with rate cuts imminent: JPMorgan

Peak prices could return if the Chinese economy booms and the stock market continues its winning streak, researcher says.

China consumption

China’s cash-conscious consumers force Europe’s luxury giants to think small

A slowing economy, shifting tastes and higher prices have dampened Chinese enthusiasm for overly expensive luxury goods.

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Illustration: Henry Wong
China’s economic stimulus

China backs Three Gorges megaproject, hot on heels of giant Tibet dam

Investment in infrastructure is likely to continue but structural reforms needed to unleash consumer spending, analyst says.

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Ships sail in the Xiling Gorge of the Three Gorges of the Yangtze River in Yichang city, Hubei province, China, on May 5, 2024. Photo: Future Publishing via Getty Images
US-China relations

‘It’s hard to succeed’: US firms in China report record pessimism amid tensions

An all-time high of respondents to an AmCham Shanghai survey have a dim outlook amid a broader pullback by global investors, despite improved regulatory landscape in China.

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China inflation

Chinese consumer prices slip back into decline amid deflationary pressures

Weak domestic demand and industrial oversupply continue to weigh on prices as CPI falls 0.4 per cent in August.

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China travel

China debuts instant tax refunds for tourists through overseas e-wallets

Travellers flying out of Shenzhen can now claim refunds in seconds, the local government says.

Staff members offer tax refund service for a tourist at a MixC shopping mall in Shenzhen, south China’s Guangdong Province, on April 30. Photo: Xinhua
Banking & finance

‘Urgent revisions’ mulled for China’s bankruptcy law, with shortcomings in mind

Move could help clear economic bottlenecks and eliminate ‘zombie enterprises’, while better protecting the rights of stakeholders, economic law professor says.

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Draft amendments to China’s Enterprise Bankruptcy Law are now being reviewed. Image: Shutterstock
China trade

China trade slowdown to spur Xi’s Global South push

Worse-than-expected export data and plunging exports to the US will likely only boost President Xi Jinping’s efforts to further extend ties with developing nations.

China economy

Editorial | Listed firms’ profits show China’s economic recovery is on track

Mainland firms listed onshore delivered solid results for the first half of the year, despite global uncertainties and domestic realities.

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China manufacturing

China’s new anti-involution fight is less punchy than 2015 reform, analysts say

Efforts to curb China’s cutthroat price wars and excess capacity, while not insignificant, have resulted in ‘misplaced’ expectations, Oxford Economics contends.

China has stepped up a fight against cutthroat, low-quality price competition that has hindered industries such as electric vehicles. Photo: AP
China society

Being Chinese | Young Chinese are trying out the simple life. Am I missing out?

My generation has never known an economic slump lasting a number of years. Some friends are taking the opportunity to slow down.

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US-China trade war

China moves to boost electronics self-sufficiency as US tightens chip curbs

Beijing’s new action plan focuses on creating resilient, self-sufficient supply chains for vital telecommunications and electronic equipment.

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China consumption

Local Chinese government stimulus pushes big spenders to dig in while dining out

Shaoxing city authorities roll out consumption-boosting measures at a time when economic growth is critical and the central government is watching closely.

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Shaoxing city in Zhejiang province will offer subsidies of up to 5,000 yuan (US$700) to banquet holders if they host five or more tables and spend more than 10,000 yuan. Photo: Shutterstock
Yuan

China’s yuan could strengthen to 7 per US dollar as Fed sends dovish signals

The Chinese currency is already rising against the US dollar and will receive another boost if the Federal Reserve cuts interest rates.

The Chinese yuan may strengthen to 7.0 against the US dollar by the end of the year, according to a Goldman Sachs forecast. Photo: AFP
Science

How China streamlines national labs into tech war machines: the Hong Kong case

China overhauls Hong Kong’s sprawling network of state-backed research laboratories, turning them into sleek tech hubs.

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China’s private sector

China’s leading private firms strike gold in overseas markets: survey

Amid a challenging environment, China’s largest private companies reported a nearly 15 per cent increase in overseas revenue in 2024.

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Accounting and auditing

Wuliangye Yibin’s profit slump mirrors rival Kweichow Moutai’s woes

First-half revenue and profit at China’s second-largest liquor distiller grew at the smallest pace since 2015.

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Liquor bottles from Wuliangye Yibin are displayed at the the China International Fair for Trade in Services in Beijing last September. Photo: VCG via Getty Images
China property

Opinion | Why Beijing is letting parts of China’s property sector fail

The new goal is to improve the quality and efficiency of existing stock, rather than chase headline growth through new construction.

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An aerial view of an unfinished residential development by China Evergrande Group in the outskirts of Shijiazhuang, Hebei province in 2024. Photo: Reuters
Mainland China

China races to embed AI use across major industries with ambitious 2030 target

Beijing’s strategy seeks to integrate AI in manufacturing, healthcare and many other sectors to fuel long-term growth.

China economy

China’s industrial profits fall more slowly amid crackdown on price wars

Industrial profits have been shrinking since May, but policy measures designed to promote rebound in prices are aiding recovery, NBS says.

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