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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.
This aerial photo shows the view of a marine farm in Jianggezhuang township in Laoting county, North China’s Hebei province, on July 17, 2023. Photo: Xinhua
China's economic recovery

Explainer | Why President Xi is turning to the ocean for China’s growth – and who benefits?

Beijing eyes ocean-driven growth, as Chinese leader pledges more support for offshore sectors like wind power, shipping and marine biotech.

China consumption

China’s real consumption ‘far from as low as it seems’, think tank argues

Alibaba

Alibaba’s US$7 billion subsidy deepens China’s instant shopping battle

Banking & finance

Explainer | The world is going all-in on stablecoins. Is China’s digital yuan any different?

While the two appear similar, China’s digital currency is quite different from the cryptocurrencies many economies are rushing to regulate.

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An e-CNY mobile app icon on a smartphone. Photo: Shutterstock
China consumption

Xi revives ‘unified national market’ push as economic risks loom

President Xi Jinping emphasised efforts to break down local protectionism in China and end destructive price wars as global tariffs threaten to dampen export-led growth.

E-commerce

Opinion | Labubu’s rise reflects hitmaker ability of China’s digital ecosystem

An ecosystem that combines e-commerce with social media, it turns users into marketers, breeds viral hits – and projects cultural power.

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Electric & new energy vehicles

BYD, Geely bank on big discounts to set record car sales, dent smaller rivals

BYD had its best month this year in June, while Geely Auto is gunning for record deliveries in 2025 after a robust first-half performance.

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Visitors at the 21st Shanghai International Automobile Industry Exhibition in April 2025. Photo: Xinhua
China manufacturing

China’s Xi singles out ‘disorderly low-price competition’ for attention

Officials have favoured a vaguer term – “involutionary competition” – but president cut to the chase at top-level economic meeting.

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China's economic recovery

China mostly unscathed by turbulent 6 months, but 2025 still an uphill climb

Analysts said Beijing has a number of challenges to reckon with this year, but largely agreed the country can still meet its economic growth target.

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China's economic recovery

Opinion | Why China’s consumption problem is also a supply issue

Households with money to spend need access to diversified, high-quality services they actually want – a problem Beijing is well equipped to handle.

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Illustration: Craig Stephens
China consumption

China’s Xi Jinping puts domestic market at forefront in high-profile meeting

Excessive competition, external uncertainty and other factors make need for ‘unified national market’ even more apparent, president says.

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China’s domestic consumption is taking on greater importance as exports become a less reliable source of growth. Photo: AP
Banking & finance

China bets on tax perks to win back foreign investors amid global headwinds

Foreign firms get tax breaks for reinvestments, as Beijing moves to counter slump.

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China-EU relations

China offers tax refund to French cognac makers amid EU brandy probe: source

But industry insiders warn the terms may favour industry giants like Hennessy and Martell over smaller producers.

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Yuan

Why China’s yuan is forecast to keep strengthening against the US dollar

A resilient domestic economy and US debt fears could see the Chinese currency appreciate further, analysts say.

Chinese yuan banknotes are sandwiched between several US dollar bills in this file photo. Photo: Fernando Gutierrez-Juarez/dpa
Shanghai

China’s crackdown on banquets, booze dims spending outlook: Goldman Sachs

Investors are also sceptical that the government’s incremental policy easing will be sufficient, the US investment bank says.

Shares in distiller Kweichow Moutai, a brand synonymous with lavish banquets, fell more than 6 per cent over the past month. Photo: Getty Images
Coffee

China’s coffee craze creates bottomless cup of rural cafes – can the buzz last?

China’s coffee consumption has been increasing by double-digits annually, and many new ‘rural cafes’ are trying to brew success as the risk of homogenisation looms.

Mainland China

Opinion | Global hit Labubu was forged in the heat of China’s demanding market

In China’s demanding market that’s shifting towards emotionally driven spending, creative brands that succeed can look to conquer the world.

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Hong Kong stock market

Top banks bullish on Hong Kong, China stocks amid policy support, earnings

Standard Chartered is overweight on allocations to Chinese equities, while UBS expects the premium between A and H shares to narrow further.

A man walks past an electronic display board at the Hong Kong stock exchange. Photo: Xinhua
China’s economic stimulus

Billions misused in China 2024 stimulus, from flood controls to gym gear: audit

Dozens of localities violated conditions of receiving funds, such as for large-scale equipment renewals and consumer goods trade-ins, top audit watchdog finds.

Electric & new energy vehicles

Chinese EV battery firm Eve eyes second Malaysia plant

The US$1.2 billion facility, revealed weeks after company’s Hong Kong listing plan, will make batteries for energy-storage systems.

US-China trade war

China’s factory activity rebounds in June as US trade tensions ease

But analysts warn the Chinese economy could face greater headwinds in the second half of 2025.

China’s factory activity regained some momentum in June amid a de-escalation in the country’s tariff war with the United States. Photo: AFP
China travel

Explainer | How can you claim tax refunds as a tourist in China?

China is making it easier for tourists to claim value-added tax refunds on purchases made during their trips - here’s how it works.

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China has introduced new rules to make it easier for foreign tourists to claim tax refunds on purchases made during their trips. Photo: Xinhua
China consumption

‘Not cool’: why China is falling out of love with foreign ice cream

As in many other areas, young Chinese are turning away from global brands like Häagen-Dazs in favour of cheaper, nimbler local rivals.

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China consumption

China’s museums find a solution to their cash flow woes: viral souvenirs

Museums are rushing to launch new ranges of themed merchandise as they try to tap into China’s ‘emotional consumption’ trend.

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China technology

From Cambridge to Suzhou: a Chinese AI start-up’s journey to unicorn status

For AI Speech, swapping Britain for bustling Suzhou was key to propelling the company to a billion-dollar valuation.

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Suzhou Industrial Park in eastern China’s Jiangsu province has made artificial intelligence a key focus of its development plan. Photo: Getty Images
Banking & finance

China’s stablecoin edge? WeChat and Alipay, says top economist

As calls grow for Beijing to embrace digital currencies, e-payment giants seen as aiding yuan’s global push.

Stablecoins are digital currencies pegged to fiat currencies or reserve assets, distinguishing them from more volatile cryptocurrencies such as bitcoin. Photo: Shutterstock
China-Middle East relations

Boom goes the deal? China’s Iran investments under fire, but Middle East beckons

Mideast is crucial to China’s belt and road plan, but amid the Iran-Israel war, a question resurfaces: how safe are Chinese assets there?

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World Economic Forum

China becomes bright spot at uncertain time: SCMP’s ‘Summer Davos’ highlights

The World Economic Forum event was held in an atmosphere of global tension, but attendees did see some hope in China’s tech advancements.

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