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China’s private sector

China’s private sector
The latest news, analysis and opinion on China’s private sector. In-depth analysis, industry insights and expert opinion.
Walk on by: changing tastes and the growing allure of home-grown brands mean that sports apparel giants like Nike are struggiing in China. Photo: Reuters
Mainland China

From swoosh to local: Nike stumbles in China as home-grown rivals close the gap

Nike’s sharp drop in China sales underscores intensifying competition from home-grown brands amid changing consumer tastes.

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Biomedicine: Companies

BeOne Medicines names R&D chief Wang Lai as co-president amid global expansion

China innovators

China’s growing young billionaire class masks innovation hurdles, analysts say

China's space programme

China launches satellite ‘super factory’ in bid to rival Elon Musk’s Starlink

The facility features a ‘factory-to-launch’ pipeline, expected to make it faster and cheaper to build low Earth orbit constellations.

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China’s first comprehensive factory dedicated to the assembly, testing and reuse of carrier rockets, in south China’s coastal city of Wenchang. Photo: People’s Daily
Tencent

Tencent quits Paramount’s Warner Bros bid amid US regulatory concerns

Tencent has been dropped as a financing partner from Paramount Skydance’s US$108 billion hostile bid for Warner Bros Discovery.

China's economic recovery

China warns internet platforms not to shift tax burden onto gig workers

Celebrities and high-profile influencers also under scrutiny, with regulators pursuing hundreds of such cases in recent years.

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Artificial intelligence

ByteDance’s agentic AI smartphone dials up a digital backlash by China’s top apps

ByteDance’s new AI smartphone has run into resistance, as major Chinese platforms move to block its features citing fairness and security.

ByteDance’s agentic AI on the Nubia M153, launched by ZTE, is facing a backlash from other apps over security and fairness concerns. Photo: Handout
Hong Kong

Deloitte say Hong Kong primed as treasury hub for China’s go-global push

As Chinese companies diversify into Southeast Asia, Latin America and belt and road markets, many are using Hong Kong as a springboard.

United States

US lifts China sentiment, but tensions cloud outlook in Japan: report

Global confidence in China ticked higher in the third quarter, Morgan Stanley says, driven by US companies and policy support in Beijing.

China's economic recovery

Beijing aims to harness state, private sectors to build ‘world-class firms’

Private firms need a stable, level playing field, with state-owned enterprises acting as anchors for strategic industries, state-asset watchdog says.

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A robotic arm moves stock at the smart workshop of a footwear company in China’s southeastern Fujian province. Photo: Xinhua
Hong Kong

Kelly Zong steps down as Wahaha chief amid bitter inheritance feud

The succession drama at Wahaha has entered a new phase, with heiress Kelly Zong relinquishing her top roles at the beverage giant.

Wahaha heiress Kelly Zong Fuli. Photo: Ifeng.com
Shanghai

Beauty market aglow: young Chinese splurge on self-care, Fosun-backed firm says

Growing number of men join women in embracing energy-based aesthetic treatments as a preventive measure: Sisram Medical.

Open Questions series

Open Questions | Nicholas Lardy on China’s unique economic advantage

Economist at US think tanks on bright prospects for China, the challenges it faces and why more market discipline is needed.

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Shenzhen

China’s housing slide deepens as October prices fall at fastest pace in a year

New home prices drop 0.5 per cent across 70 cities despite easing measures amid slowing economy and job worries.

Primary home prices in top-tier cities, which are more economically developed and typically have higher housing demand, fell 0.3 per cent in October over September. Photo: EPA
China's economic recovery

Tax reform in China’s 5-year plan aims to protect budgets without crushing firms

Officials propose boosting direct and local levies, curbing tax breaks and tapping new sectors to shore up local revenues and fund social spending.

Office workers walk near a construction site in Beijing. A prolonged property downturn has added to fiscal pressure on local-level governments in China. Photo: AFP
China economy

China’s new private sector liberalisation spreads to infrastructure

Railways, nuclear reactors, oil pipelines and water networks in China are all opening up to private investors as the government seeks new ways to revive economic growth.

China economy

Explaining China’s 13 measures to promote private investment

SCMP Plus annotates State Council’s 13-point plan to promote private investment in infrastructure projects, until now the domain of the country’s state-owned enterprises.

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China economy

From rail to nuclear power, China taps private capital to fund major projects

Beijing unveils a slew of new measures to channel private investment into infrastructure projects ranging from hydropower to oil pipelines.

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Workers lay track for a new high-speed railway in China’s eastern Zhejiang province. China aims to encourage more private investment in major projects, including new railways and nuclear power facilities. Photo: Xinhua
Artificial intelligence

Innovation is key to curbing ‘involution’ in China: Two Sigma co-founder

While there is a lot of hype around AI, China’s practical approach is more effective, David Siegel says at the Family Business Summit.

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Mainland China

Fosun brings UK particle therapy to mainland China in advanced cancer care push

The US Food and Drug Administration-approved Marie system promises human-centred care, advanced technology and lower costs.

Middle East

Labubu maker Pop Mart pushes into Middle East with first Qatar store

The Chinese toymaker expects overseas revenue to surpass domestic sales by the end of this year.

Pop Mart’s first store in the Middle East is at Hamad International Airport in Doha, capital of Qatar. Photo: Handout
China’s fourth plenum

China unveils 5-year plan’s support for private sector, financial strength

Revelations had not been mentioned in the communique issued last week following the fourth plenum.

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China has vowed to “fully stimulate” the vitality of all types of business entities and encourage the joint development of various forms of ownership. Photo: Getty Images
US-China relations

China can learn US lessons to unleash military power of civilian tech, researcher says

Successful firms such as SpaceX, Palantir and Anduril are part of an agile American ecosystem, according to adviser.

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Artificial intelligence

A token of intent: Doubao’s data surge cements ByteDance’s AI ambitions

A surge in activity on ByteDance’s Doubao model shows how rapidly AI tools are entering daily life in China.

Electric & new energy vehicles

Powering the future: how China plans to supercharge its EV revolution

The top economic planner says the goal will also support Beijing’s plan to stimulate domestic consumption.

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An electric cable with a picture of the flag of China. Photo: Shutterstock
Li Qiang

Chinese premier stresses resilience in symposium with business leaders

Li Qiang says ‘broader perspective’ necessary to keep confidence high amid trade tensions with US, preparation for major political conclave.

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Chinese Premier Li Qiang held a symposium on Tuesday with a group of the country’s business leaders and economics scholars. Photo: AFP
Foreigners in China

‘Quantity to quality’: what China’s next 5-year plan means for foreign investors

Beijing has pledged to open up even more to foreign investment. But some officials are becoming more selective about the projects they want.

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China economy

China’s private firms face a difficult landscape. Can the 5-year plan help?

Entrepreneurs in traditional sectors hope China’s next plan will help relieve pressures from low demand, price wars and regulatory scrutiny.

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