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TOPIC

China's economic recovery

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.
Open Questions series

Susan Thornton on US-China ties, post-midterms and averting a new balloon crisis

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Illustration: Lau Ka-kuen

Wu Shicun on why Beijing will not rule out Scarborough Shoal construction

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Illustration: Victor Sanjinez

Zheng Yongnian on what US’ ‘neocolonialism’, Venezuela operation mean for China

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Illustration: Victor Sanjinez

Liu Qian on Chinese innovation, the US rivalry and women holding up half the sky

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Illustration: Victor Sanjinez Garcia

Fuchsia Dunlop tells how she fell for China’s cuisine and names her perfect dish

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Illustration: Lau Ka-kuen

80 years on from WWII, China’s interests lie in peaceful Asia-Pacific: Mitter

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Illustration: Lau Ka-kuen

Susan Thornton on US-China ties, post-midterms and averting a new balloon crisis

videocam
Illustration: Lau Ka-kuen

Wu Shicun on why Beijing will not rule out Scarborough Shoal construction

videocam
28
Illustration: Victor Sanjinez

Zheng Yongnian on what US’ ‘neocolonialism’, Venezuela operation mean for China

videocam
13
Illustration: Victor Sanjinez

Liu Qian on Chinese innovation, the US rivalry and women holding up half the sky

7
Illustration: Victor Sanjinez Garcia

Fuchsia Dunlop tells how she fell for China’s cuisine and names her perfect dish

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5
Illustration: Lau Ka-kuen

80 years on from WWII, China’s interests lie in peaceful Asia-Pacific: Mitter

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18
Illustration: Lau Ka-kuen
MORE FROM THIS SERIES
A worker produces magnetic components in the workshop of Yaorun Technology in the high-tech zone of Qianjiang District in Chongqing, southwest China on October 26. Photo: CN-STR/AFP
China manufacturing

Factory-gate prices are key for China, but is this rebound a flash in the pan?

Analysts are sceptical that latest rebound signals a fundamental improvement in supply-demand dynamics, as seen in the previous two upswings.

China jobs

In China’s tough job market, anxious students spend thousands on internships

Banking & finance

Silent crisis: China faces spike in credit card defaults from older borrowers

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China’s private sector

In Focus | ‘Rampant’ unpaid debts, rising costs: why China’s private sector is hurting

With an economic slowdown adding to their woes, China’s private businesspeople lament heightened regulatory enforcement as a further strain.

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Illustration: Lau Ka-kuen
China GDP

In Focus | Beijing wants more than GDP growth from local officials. Can they adapt?

Cadres at lower levels are juggling a complex set of priorities from Beijing – while still searching for new sources of growth.

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China economy

Editorial | China’s stronger-than-expected GDP growth sends positive signal

The revival of factory-gate prices, if demand-driven, indicates that Beijing’s push to upgrade manufacturing is working, but consumption and the housing slump need attention.

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China deflation

Open Questions | Robin Xing on how China’s ‘two-speed’ economy can solve contrasting problems

Morgan Stanley’s chief China economist on how a new industrial revolution and demand-centric reflation can sustain China’s growth.

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Illustration: Henry Wong
China consumption

‘China haul’: why foreign tourists are shopping up a storm on the mainland

With easier payments and tax refunds, a greater number of foreign visitors are heading to China for shopping sprees.

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China birth rate

Notable demographer calls for 18-fold increase to China’s childcare subsidies

James Liang says boosting the subsidy is crucial to reversing China’s shrinking population.

China trade

China export surge sets up another record annual trade surplus

A 36.3 per cent jump in September exports means China’s annual trade surplus is set to break US$1 trillion for the second year in a row.

A technician of a technology company works on a high-end semiconductor wafer dicing machine in Wuhan, Hubei province. Photo: Xinhua
China inflation

China’s factory-gate prices rise faster, but consumer inflation subdued

Statistician attributes producer price index growth to higher commodities prices, boost to demand from AI-related infrastructure.

Workers prepare automotive electronics products for export at a factory in Shijiazhuang, Hebei province, last month. Photo: Xinhua
Banking & finance

PBOC adds most gold in three years amid China pivot from US dollar

China’s central bank has bought gold for 23 straight months as the nation seeks to pare its reliance on US-controlled, dollar-based financial systems.

China GDP

IMF revises China GDP projection down for 2026, cautions on export reliance

The latest World Economic Outlook report warns export strength cannot bolster persistent property crisis, sluggish consumption.

China economy

Editorial | Beijing is right to reserve its fiscal firepower

The central government is prioritising ‘precision’ and ‘effectiveness’ in efforts to stimulate the economy, but local debt presents a harder challenge.

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Chinese Finance Minister Lan Foan attends a press conference about a bill on raising ceilings on local government debt, at the Great Hall of the People in Beijing, on November 8, 2024. Lan’s latest article, published in the Communist Party’s leading theoretical journal, Qiushi, sheds light on Beijing’s fiscal direction. Photo: Reuters
China jobs

China proposes first labour regulations to protect 84 million platform workers

The draft requires that payment cycles not exceed one month and holiday work be paid at a higher rate, but it does not specify by how much.

Two food delivery workers walk through an urban plaza while promoting meal discounts for a food delivery platform in Chongqing, China. Photo: Getty Images
China exports

Why China’s export engine may hit a ceiling as trading partners face limits

Exports likely to keep growing in near term but could face pressure in the years ahead, analysts say.

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US-China relations

China’s economy to slow as global growth stays solid, US think tank report says

Overcapacity and continued property slump weighing on domestic demand, Peterson Institute for International Economics reveals.

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China economy

Editorial | China’s economic recovery calls for a bigger role for private firms

What households need most is a stable property market and rising income and employment. For that, the private sector is crucial.

People sit around a shopping mall in Beijing on September 13. Photo: AFP
China GDP

China seen doing ‘just enough’ with targeted fiscal support to defend GDP growth

Finance Minister Lan Foan vows reasonably faster public spending and broader subsidies as Beijing battles prolonged property slump and weak domestic demand.

China's population

As China’s birth rate falls, vacant schools are turned into aged care facilities

Data shows primary and preschool enrolments each fell by 10 per cent last year, leaving classrooms empty while the elderly population grows.

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Xi Jinping

Xi projects confidence in National Day speech, issues economic rallying call

Chinese leader urges resilience, tech innovation and stability in holiday address ahead of a major Communist Party gathering next month.

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Chinese President Xi Jinping gives a toast at the National Day reception at the Great Hall of the People in Beijing, China on September 30, 2026. Photo: AP
China GDP

China cuts key interest rate, offers mortgage subsidy to boost economy

Beijing has cut the interest rate on its pledged supplemental lending facility to 1.5 per cent, while offering homebuyers a mortgage interest subsidy.

China is introducing a new package of measures to boost the real economy. Photo: AFP
China’s economic stimulus

China moves towards stimulus as economic concerns grow

The State Council discussed measures to support the economy and stabilise the property market after growth slipped below the government’s full-year target.

China economy

China asks local governments to ‘intensify’ policy tweaks to boost consumption

Premier Li Qiang calls for more policy experimentation as retail sales remain weak, rising by just 0.4 per cent in August.

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China consumption

Boosting China’s social safety net could address consumption woes: IMF director

The global organisation found that savings of rural households decrease when social and healthcare spending is higher.

People wait outside a busy restaurant in Beijing on Monday. Photo: AFP
China debt

Economists urge Beijing to act fast on local-level debt while prices remain low

Prominent advisers note importance of central authorities expanding borrowing to fund infrastructure before the current window of subdued inflation closes.

People carry bags while walking through the central business district in Beijing. Photo: Getty Images
Infrastructure

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

The 134.2km waterway promises shorter routes to the sea and lower transport costs, potentially reshaping the fortunes of landlocked regions.

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.

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