https://www.scmp.com/rss/12/feed Global economy news, including budgets, stock markets and analysis. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Ralph Jennings Ralph Jennings US President Donald Trump’s drive to reassert US supremacy in Latin America has already squeezed China’s interests in Cuba, Panama and Venezuela. Now, Nicaragua could be shaping up as the next economic battleground between the two powers, a scholar has warned. The American leader has yet to target Nicaragua since returning to office, but that could change if China revives an ambitious project to build a canal cutting across the country to connect the Pacific Ocean and Caribbean Sea, said Zhang... https://www.scmp.com/economy/china-economy/article/3356132/trump-has-squeezed-china-cuba-panama-and-venezuela-nicaragua-next?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3356132/trump-has-squeezed-china-cuba-panama-and-venezuela-nicaragua-next?utm_source=rss_feed Sat, 06 Jun 2026 09:00:07 +0000 Carol Yang Carol Yang Though rising oil and gas prices are causing havoc in the global economy, they have proved a windfall for one sector: China’s vast offshore engineering equipment industry. The increase in global fossil fuel prices over the past few years has sparked a surge in offshore investment, which has boosted the revenues of Chinese companies that make the heavy-duty machinery used to extract that energy – from floating oil rigs to wind turbine installation vessels. “We are quite optimistic about the... https://www.scmp.com/economy/china-economy/article/3356113/how-china-cashing-global-scramble-offshore-oil-and-gas?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3356113/how-china-cashing-global-scramble-offshore-oil-and-gas?utm_source=rss_feed Sat, 06 Jun 2026 03:00:05 +0000 Andrew Sheng Andrew Sheng Given that control over energy reinforces superpower status, the contest of the century has morphed into an intense rivalry between China, a rising “electrostate”, and the United States, the world’s hydrocarbon hegemon safeguarding its position. China recognises that electricity drives its economy. Despite being a major producer of coal, crude oil and natural gas, China remains an importer of these hydrocarbons. However, with strategic patience, through its five-year plans, the country has been... https://www.scmp.com/opinion/china-opinion/article/3356042/energy-now-focus-us-china-contest-century?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3356042/energy-now-focus-us-china-contest-century?utm_source=rss_feed Fri, 05 Jun 2026 21:30:05 +0000 Sylvia Ma Sylvia Ma China and Russia have largely moved away from the US dollar in bilateral trade settlement, with most transactions now settled in their own currencies. Yet cross-border payment bottlenecks persist as Chinese banks carefully manage their exposure to Washington’s sanctions regime, according to a senior Russian banker. At the heart of the friction is a stark balancing act facing Chinese lenders: how to ease trade with Russia while safeguarding access to the US dollar-based global financial system –... https://www.scmp.com/economy/global-economy/article/3356137/do-china-russia-trade-payment-frictions-show-limits-de-dollarisation?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3356137/do-china-russia-trade-payment-frictions-show-limits-de-dollarisation?utm_source=rss_feed Fri, 05 Jun 2026 13:15:05 +0000 Ralph Jennings Ralph Jennings China and South Korea will allow 70 more flights per week between the two countries in view of fast-growing, two-way tourism and a drop in Chinese group travel to Japan. The Ministry of Land, Infrastructure and Transport in Seoul said in a statement Thursday that passenger flight capacity would grow from 608 to 664 per week and that maximum air freight flights would expand from 54 to 68 per week. These expansions, the first since before the Covid pandemic, reflect a surge in two-way tourism,... https://www.scmp.com/economy/global-economy/article/3356103/china-south-korea-boost-commercial-flights-tourism-increases-between-2-countries?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3356103/china-south-korea-boost-commercial-flights-tourism-increases-between-2-countries?utm_source=rss_feed Fri, 05 Jun 2026 09:00:43 +0000 Xiaofei Xu Xiaofei Xu European CEOs remain cautious about China’s long-term business prospects, according to a new report, with more now ranking their relationship with India a higher priority amid challenging global macroeconomic conditions. Asked about their expectations for business conditions in China more than three years down the road – in terms of regulatory stability and simplicity, openness and investment attractiveness – 34 per cent of respondents to a survey were positive, 34 per cent were neutral and 23... https://www.scmp.com/economy/global-economy/article/3356028/european-ceos-more-optimistic-about-business-prospects-india-china?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3356028/european-ceos-more-optimistic-about-business-prospects-india-china?utm_source=rss_feed Fri, 05 Jun 2026 08:00:14 +0000 Xiaofei Xu Xiaofei Xu EU trade chief Maros Sefcovic has called for practical approaches and “meaningful discussion” to tackle the growing trade concerns between Brussels and Beijing, following his meeting with China’s chief international trade negotiator, Li Chenggang, on the sideline of a ministerial meeting at the Organisation for Economic Cooperation and Development (OECD) in Paris. Sefcovic opened his press conference on Thursday by stressing the urgency of crafting policy responses to the non-market practices... https://www.scmp.com/economy/global-economy/article/3356007/eu-trade-chief-swipes-chinas-overcapacity-seeks-meaningful-talks-beijing?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3356007/eu-trade-chief-swipes-chinas-overcapacity-seeks-meaningful-talks-beijing?utm_source=rss_feed Thu, 04 Jun 2026 16:06:31 +0000 Daniel Ren Daniel Ren Leading Chinese carmakers like BYD and Chery Automobile are reaping rewards from their efforts to boost sales abroad, as they chase higher profitability amid rising demand for electric vehicles (EVs). Chery, which spearheaded the go-global drive among mainland China’s automotive groups and is the country’s largest car exporter, delivered three times as many cars overseas as at home last month. The state-owned company, based in eastern China’s Anhui province, handed 181,571 vehicles to customers... https://www.scmp.com/business/china-business/article/3355982/chinese-carmakers-byd-chery-chart-80-growth-overseas-ev-demand-spikes?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3355982/chinese-carmakers-byd-chery-chart-80-growth-overseas-ev-demand-spikes?utm_source=rss_feed Thu, 04 Jun 2026 12:30:16 +0000 Alice Li Alice Li China has rejected a recent OECD report that said its firms receive far higher government subsidies than international peers, calling the findings “one-sided and arbitrary” at a time when EU concerns over Beijing’s industrial policy are intensifying. “The report’s definition of ‘subsidies’ lacks a unified standard and statistical framework, and deviates from consensus under multilateral frameworks such as the World Trade Organization,” the Ministry of Commerce said in a statement on... https://www.scmp.com/economy/global-economy/article/3355941/china-rejects-oecd-report-industrial-subsidies-one-sided-amid-eu-trade-tensions?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3355941/china-rejects-oecd-report-industrial-subsidies-one-sided-amid-eu-trade-tensions?utm_source=rss_feed Thu, 04 Jun 2026 09:00:07 +0000 Xiaofei Xu Xiaofei Xu An initiative designed to tackle inequality and climate change could benefit China by reinventing global financial and trade institutions and liberating countries from constantly chasing trade surpluses and foreign reserves, French economist and inequality specialist Thomas Piketty said. A report by Piketty and fellow researchers at the World Inequality Lab that was published on Thursday envisions a fully costed plan to slash global inequality, fund the green transition and reform international... https://www.scmp.com/economy/global-economy/article/3355915/new-global-financial-architecture-needed-end-trade-surplus-fixation-piketty?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3355915/new-global-financial-architecture-needed-end-trade-surplus-fixation-piketty?utm_source=rss_feed Thu, 04 Jun 2026 06:00:18 +0000 Jaemin Lee Jaemin Lee Economic security has become a term of art, defining the national economic and trade policies of many countries in recent years. Under this concept, nations have adopted a wide range of measures to protect their respective geopolitical and geoeconomic interests. While these policies and measures vary, they consistently take the form of unilateral or bilateral actions aimed at protecting key national interests through economic channels. They unilaterally redesign domestic structures or... https://www.scmp.com/opinion/world-opinion/article/3355441/us-allies-ensuring-economic-security-has-become-more-complex?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3355441/us-allies-ensuring-economic-security-has-become-more-complex?utm_source=rss_feed Wed, 03 Jun 2026 12:30:04 +0000 Ralph Jennings Ralph Jennings China is one of the world’s largest buyers of gold as central banks shift towards the precious metal, which has overtaken US Treasuries to become the world’s top reserve asset amid higher valuations and its appeal as a geopolitical hedge, the European Central Bank said. The world’s second-largest economy was the fourth-largest per-country buyer of gold in 2025 after Poland, Kazakhstan and Brazil, purchasing about 25 tonnes, the ECB stated. It estimated that China had bought more than 350 tonnes... https://www.scmp.com/economy/global-economy/article/3355805/china-among-top-gold-buyers-bullion-overtakes-us-treasuries-global-reserves-ecb?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3355805/china-among-top-gold-buyers-bullion-overtakes-us-treasuries-global-reserves-ecb?utm_source=rss_feed Wed, 03 Jun 2026 09:00:05 +0000 Daniel Ren Daniel Ren Tesla’s Shanghai Gigafactory recorded its strongest monthly deliveries of the year in May as a broader recovery in China’s electric vehicle market gathered pace, although the US carmaker is likely to face intensifying competition from domestic rivals launching a wave of new models. The factory in Shanghai’s Lingang free-trade zone delivered 85,982 Model 3 and Model Y vehicles last month, up 39.4 per cent from a year earlier and 8.2 per cent from April, according to Tesla China. The figure... https://www.scmp.com/business/china-business/article/3355810/teslas-china-sales-surge-2026-high-rivals-crowd-rear-view-mirror?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3355810/teslas-china-sales-surge-2026-high-rivals-crowd-rear-view-mirror?utm_source=rss_feed Wed, 03 Jun 2026 08:05:43 +0000 Xinyi Wu Xinyi Wu Global oil inventories risk declining to “critical levels” before the peak summer season – and the energy crisis could drag on for months even if a deal is agreed to end the US-Israel war on Iran, according to the International Energy Agency (IEA). While China’s crude reserves remain relatively resilient, its onshore volumes have also begun to fall, analysts said. “We’re seeing stock draws continuing into the summer, and with the possibility or the likelihood that we reach critical levels or... https://www.scmp.com/economy/china-economy/article/3355796/global-oil-stockpiles-could-fall-critical-levels-summer-iea-warns?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3355796/global-oil-stockpiles-could-fall-critical-levels-summer-iea-warns?utm_source=rss_feed Wed, 03 Jun 2026 07:14:29 +0000 Yeon Woo Lee Yeon Woo Lee South Korea has emerged as a rare bright spot among East Asian economies trading with China, as booming demand for memory chips pushes its balance with its largest trading partner back into a surplus. The country’s trade position with China had strengthened steadily this year, swinging from a US$764 million deficit in December 2025 to a US$1.1 billion surplus in February, before widening further to US$3.8 billion in May, according to data from South Korea’s Ministry of Trade, Industry and... https://www.scmp.com/economy/global-economy/article/3355707/chinas-ai-chip-demand-pushes-south-korea-rare-surplus-top-trade-partner?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3355707/chinas-ai-chip-demand-pushes-south-korea-rare-surplus-top-trade-partner?utm_source=rss_feed Wed, 03 Jun 2026 03:00:17 +0000 Matteo Giovannini Matteo Giovannini For years, Hong Kong’s obituary has been repeatedly written by international commentators. Geopolitical tensions, pandemic isolation, concerns over capital flight and questions surrounding the city’s future contributed to a narrative of irreversible decline. In many Western analyses, the assumption that Hong Kong’s best days as an international financial centre were behind it became almost automatic. Yet the latest global wealth management data tells a very different story. According to... https://www.scmp.com/opinion/hong-kong-opinion/article/3355567/hong-kong-emerging-leading-capital-hub-multipolar-era?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3355567/hong-kong-emerging-leading-capital-hub-multipolar-era?utm_source=rss_feed Wed, 03 Jun 2026 01:30:06 +0000 Xinyi Wu Xinyi Wu China’s domestically made regional jet, the C909, has struggled to compete with market leaders Airbus and Boeing since it launched a decade ago. But there is one place where it is thriving: the far-western Chinese region of Xinjiang. Chinese airlines have rolled out C909s in Xinjiang at a rapid clip over the past few years. The first C909 touched down in the region as recently as June 2023. Now, there are 30 of them being used on more than 120 routes in the remote territory, according to state... https://www.scmp.com/economy/china-economy/article/3355699/why-chinas-c909-jet-rapidly-being-deployed-xinjiang?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3355699/why-chinas-c909-jet-rapidly-being-deployed-xinjiang?utm_source=rss_feed Tue, 02 Jun 2026 23:00:06 +0000 Yeon Woo Lee Yeon Woo Lee The wide-ranging geopolitical rivalry between Beijing and Washington could soon expand into biotechnology, raising the prospect of fresh tensions even as American pharmaceutical firms have turned to China’s fast-growing industry for new drug candidates. Biotech in the world’s second-largest economy has long been viewed as a predominantly low-cost manufacturing base with opportunities arising from its vast domestic market. But years of sustained investment, cost advantages and faster development... https://www.scmp.com/economy/global-economy/article/3355700/next-tech-war-why-biotech-may-become-new-us-china-battleground?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3355700/next-tech-war-why-biotech-may-become-new-us-china-battleground?utm_source=rss_feed Tue, 02 Jun 2026 11:00:05 +0000 He Huifeng He Huifeng Australian beef will soon be subject to an additional 55 per cent import duty in China, with shipments of the meat about to surpass an annual quota set by Beijing, China’s Ministry of Commerce confirmed on Tuesday. Imports of Australian beef have already reached 90 per cent of this year’s quota, meaning that a tariff adjustment will soon be triggered, the ministry announced via an alert. Until recently, most imports of Australian beef were subject to low or even zero tariffs in China under a... https://www.scmp.com/economy/china-economy/article/3355698/australian-beef-will-soon-be-hit-55-tariff-china-ministry-says?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3355698/australian-beef-will-soon-be-hit-55-tariff-china-ministry-says?utm_source=rss_feed Tue, 02 Jun 2026 10:30:05 +0000 Sylvia Ma Sylvia Ma Macau has joined a cross-border central bank digital currency settlement platform, with 11 banks in the city becoming the first participating institutions according to the region’s government. The Monetary Authority of Macau had completed system integration with Project mBridge participants, allowing those banks to begin conducting transactions through the platform from Tuesday, authority executive director Henrietta Lau Hang-kun was quoted as saying in a government news release on Monday. The... https://www.scmp.com/economy/china-economy/article/3355633/11-macau-banks-sign-project-mbridge-city-joins-digital-currency-platform?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3355633/11-macau-banks-sign-project-mbridge-city-joins-digital-currency-platform?utm_source=rss_feed Tue, 02 Jun 2026 05:00:06 +0000 Yeon Woo Lee Yeon Woo Lee As his eight-year-old son blew out the candles on his birthday cake in February, Choi Nam-joon gave him a present he hopes will keep growing long after the party ends: three shares of Samsung Electronics. The shares, worth a total of about 500,000 won (US$332) at the time, were added to the boy’s brokerage account, part of a plan the 42-year-old South Korean office worker sees as the most realistic way to help his son build wealth. Choi’s family cannot afford to buy a home in one of Seoul’s most... https://www.scmp.com/economy/global-economy/article/3355564/property-portfolios-asias-families-rethink-inheritance-investments?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3355564/property-portfolios-asias-families-rethink-inheritance-investments?utm_source=rss_feed Mon, 01 Jun 2026 22:00:06 +0000 Daniel Ren Daniel Ren Sales of electric vehicles (EVs) in China recovered on solid footing in May, as new models fitted with higher-performance batteries and more advanced driver assistance systems drew consumers amid intensified competition. Zeekr, a premium EV brand owned by Geely Auto, the country’s second-largest carmaker, and Stellantis-backed Leapmotor rewrote their monthly delivery records, the latest sign that local government subsidies have whetted consumers’ buying appetite for big-ticket items. Although... https://www.scmp.com/business/china-business/article/3355592/chinese-ev-makers-recover-may-competition-remains-fierce-amid-overcapacity-woes?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3355592/chinese-ev-makers-recover-may-competition-remains-fierce-amid-overcapacity-woes?utm_source=rss_feed Mon, 01 Jun 2026 13:09:52 +0000 Karen Tian Karen Tian The Communist Party’s mouthpiece newspaper, People’s Daily, described artificial intelligence on Monday as a “new frontier” for Chinese cooperation with the US, marking one of Beijing’s clearest articulations yet of how it sees AI fitting into the bilateral relationship. The publication of the commentary in People’s Daily follows agreements reached during US President Donald Trump’s visit to China last month, when he and President Xi Jinping discussed AI and agreed to establish a... https://www.scmp.com/economy/china-economy/article/3355574/world-does-not-want-ai-iron-curtain-chinas-communist-party-mouthpiece-says?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3355574/world-does-not-want-ai-iron-curtain-chinas-communist-party-mouthpiece-says?utm_source=rss_feed Mon, 01 Jun 2026 11:00:11 +0000 Carol Yang Carol Yang Businesses around the world are confronting a painful – and potentially long-lasting – rise in costs amid the US-Israel war on Iran, as global shipping firms introduce steep price increases to offset a mounting fuel crisis. In Shanghai, one of the world’s busiest ports, the price of shipping a container has already surged dramatically since the start of the war, according to the Shanghai Containerised Freight Index – a gauge tracking spot rates across 13 global trade lanes out of the city. The... https://www.scmp.com/economy/china-economy/article/3355536/businesses-face-huge-spike-shipping-costs-hormuz-fuel-crisis-deepens?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3355536/businesses-face-huge-spike-shipping-costs-hormuz-fuel-crisis-deepens?utm_source=rss_feed Mon, 01 Jun 2026 08:30:06 +0000 Ralph Jennings Ralph Jennings Investment offices for some of the world’s wealthiest families are reducing exposure to US assets and favouring Chinese ones, along with those in other parts of the world, Swiss investment bank UBS has found. While North America continued to make up the biggest share of their portfolios, many planned to diversify in Asia and western Europe, according to insights the bank garnered from 307 family offices in more than 30 markets. Many of those surveyed also planned to increase diversification... https://www.scmp.com/economy/china-economy/article/3355515/family-wealth-offices-eye-shifting-assets-north-america-china-survey-finds?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3355515/family-wealth-offices-eye-shifting-assets-north-america-china-survey-finds?utm_source=rss_feed Mon, 01 Jun 2026 06:30:05 +0000 Karen Tian Karen Tian As Chinese companies expand overseas and Beijing pushes to build globally competitive investment banks, the country’s leading brokerages are increasingly looking beyond the mainland market for growth, accelerating efforts to expand their international operations. Citic Securities, China’s most profitable brokerage and until recently its largest by assets, became the latest example on Thursday when it unveiled plans to raise 16 billion yuan (US$2.4 billion) through a new H-share placement to its... https://www.scmp.com/economy/china-economy/article/3355494/another-chinese-brokerage-giant-adds-fuel-countrys-overseas-expansion-push?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3355494/another-chinese-brokerage-giant-adds-fuel-countrys-overseas-expansion-push?utm_source=rss_feed Mon, 01 Jun 2026 02:00:13 +0000 Ralph Jennings Ralph Jennings Fang Yichun, from eastern China’s Jiangsu province, will visit Mexico for the first time next month to see Fifa World Cup games and relax on a tropical beach in the resort city Cancun. One of her university professors described Cancun as scenic, but the 22-year-old has seen mostly negative news reports about Mexico, featuring drug cartels, urban public safety threats and people sneaking across the US border. She said she planned to stay near her Chinese-speaking guides on the two-week trip. “My... https://www.scmp.com/economy/china-economy/article/3355252/will-world-cup-travel-boom-help-mexico-dispel-chinese-tourists-safety-fears?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3355252/will-world-cup-travel-boom-help-mexico-dispel-chinese-tourists-safety-fears?utm_source=rss_feed Sun, 31 May 2026 14:00:06 +0000 Xinyi Wu Xinyi Wu China has renewed warnings to the European Union that it will retaliate against any new trade restrictions imposed by Brussels. “If the EU insists on unilaterally introducing new trade instruments and imposing discriminatory restrictions, China will resolutely retaliate and take effective measures to safeguard its own interests,” the Ministry of Commerce said in a statement on Saturday. The ministry said communication channels between China and the EU were open, and both sides sought to conduct... https://www.scmp.com/economy/global-economy/article/3355453/eu-mulls-economic-tools-china-vows-take-steps-against-any-new-trade-restrictions?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3355453/eu-mulls-economic-tools-china-vows-take-steps-against-any-new-trade-restrictions?utm_source=rss_feed Sun, 31 May 2026 07:11:55 +0000 Kandy Wong,Ralph Jennings Kandy Wong,Ralph Jennings When China broke out one of its “big guns” in last year’s trade war with the US – an array of export controls on rare earth elements – it helped spur a temporary truce in the pitched conflict between the two economic superpowers. After Beijing’s announcement, many around the world expressed shock at the size and scope of China’s response to Washington’s sky-high tariffs. But for Japan, a squeeze on rare earth shipments was not so novel a concept. In 2010, following the collision of a Chinese... https://www.scmp.com/economy/global-economy/article/3355326/china-and-japan-arent-talking-will-their-rare-earth-trade-go-quiet?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3355326/china-and-japan-arent-talking-will-their-rare-earth-trade-go-quiet?utm_source=rss_feed Sat, 30 May 2026 22:00:09 +0000 Karen Tian Karen Tian Beijing’s recent crackdown on overseas brokerage platforms serving mainland investors, together with Hong Kong’s tighter scrutiny of investment-account openings for mainland users, has raised fresh questions about how the nation’s investors can legally access offshore markets. Despite a more hawkish regulatory environment, mainland retail investors still have several regulated channels to gain exposure to foreign markets. Each investment vehicle comes with different eligibility requirements,... https://www.scmp.com/economy/china-economy/article/3355320/bypassing-chinas-barriers-4-channels-offshore-investors-navigating-capital-controls?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3355320/bypassing-chinas-barriers-4-channels-offshore-investors-navigating-capital-controls?utm_source=rss_feed Sat, 30 May 2026 03:00:18 +0000 Carol Yang Carol Yang A 10-nation security and economic bloc that includes China, Russia and Iran has accelerated efforts to launch a development bank, aiming to address the group’s growing infrastructure needs while challenging Western financial dominance. However, the project faces headwinds as at least one key member may be less motivated than others to back the bank, according to an expert on the group, potentially complicating the path towards a final agreement. In recent months, member states of the Shanghai... https://www.scmp.com/economy/global-economy/article/3355331/china-led-sco-bloc-looks-fast-track-plan-new-bank-would-rival-western-lenders?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3355331/china-led-sco-bloc-looks-fast-track-plan-new-bank-would-rival-western-lenders?utm_source=rss_feed Fri, 29 May 2026 13:00:06 +0000 Daniel Ren Daniel Ren China’s ambitious urban renewal projects, from upgrading dilapidated homes to rebuilding gas pipelines, are expected to require investment of at least 15 trillion yuan (US$2.2 trillion) in the five years from 2026, offering fresh growth opportunities for construction firms. Property developers also received a shot in the arm on Friday, after the State Council released a guideline on the urban renewal campaign, part of Beijing’s 15th five-year plan for 2026 to 2030. The overall investment could... https://www.scmp.com/business/china-business/article/3355357/chinas-us22-trillion-urban-renewal-plan-boost-construction-property-sectors?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3355357/chinas-us22-trillion-urban-renewal-plan-boost-construction-property-sectors?utm_source=rss_feed Fri, 29 May 2026 12:33:10 +0000 Alice Li Alice Li The European Union and China are entering a new, more turbulent era in trade relations, as China has evolved from Europe’s favoured customer into a sophisticated competitor, a Brussels lobbyist has said. Chinese businesses are likely to face tougher scrutiny in the EU market as a result, with Brussels already taking steps to diversify its trade and mulling more robust measures to shield local industry from Chinese competition, according to Michael Koplovsky, a senior adviser at the strategic... https://www.scmp.com/economy/china-economy/article/3355317/era-when-europe-viewed-china-partner-over-brussels-insider-warns?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3355317/era-when-europe-viewed-china-partner-over-brussels-insider-warns?utm_source=rss_feed Fri, 29 May 2026 11:30:05 +0000 Emma Ma Emma Ma China is stepping up efforts to explore the potential of medically important marine plants and animals, a field already valued in the billions of US dollars, as it looks to bolster its pharmaceutical industry. The country’s first guideline for the marine biopharmaceutical industry, released by the Ministry of Natural Resources on Thursday, encouraged research institutions and drug makers to leverage artificial intelligence (AI) technologies to speed up the development of the sector. The road map... https://www.scmp.com/economy/china-economy/article/3355313/china-extols-potential-ai-guideline-marine-biopharmaceuticals?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3355313/china-extols-potential-ai-guideline-marine-biopharmaceuticals?utm_source=rss_feed Fri, 29 May 2026 09:31:11 +0000 Ralph Jennings Ralph Jennings China has lost its taste for wine in recent years, with consumption plunging dramatically since the Covid-19 pandemic. But winemakers can recover if they embrace social media and work with Chinese influencers, according to an industry insider. Wealthy Chinese are still splashing out on fine wine, which has helped to offset a steep drop-off in sales of mass-market tipples and kept foreign vintners coming back to China, said Rodolphe Lameyse, one of the organisers of Vinexpo Asia – a trade event... https://www.scmp.com/economy/china-economy/article/3355244/how-wine-industry-can-stage-comeback-china-using-social-media?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3355244/how-wine-industry-can-stage-comeback-china-using-social-media?utm_source=rss_feed Fri, 29 May 2026 03:00:02 +0000 Julie Zhang Julie Zhang BYD, the world’s largest electric vehicle (EV) maker, has set its sights on achieving zero traffic accidents through self-developed autonomous driving technology, aiming to assemble next-generation cars affordable for mass consumers. Founder and chairman Wang Chuanfu told a press conference in Shenzhen on Thursday that BYD’s “God’s Eye” advanced driver-assistance system would be priced at just 12,000 yuan (US$1,770). The system allows drivers to go “hands off”, with BYD pledging to cover any... https://www.scmp.com/business/china-evs/article/3355217/chinas-byd-aims-zero-accidents-gods-eye-vows-crash-cost-coverage?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3355217/chinas-byd-aims-zero-accidents-gods-eye-vows-crash-cost-coverage?utm_source=rss_feed Thu, 28 May 2026 14:40:35 +0000 Alice Li Alice Li China has a unique window to internationalise its currency by deepening domestic financial markets, according to a former senior US central bank official who pointed to the evolution of the US dollar and the euro for lessons to be gleaned. The comments from Charles Evans, former president of the Federal Reserve Bank of Chicago, provide a fresh perspective in the growing discussion over whether and how the world’s second-largest economy can transform the yuan into a global currency. Speaking on... https://www.scmp.com/economy/global-economy/article/3355195/yuan-deeper-markets-ex-feds-evans-cites-dollar-playbook-amid-risks-criticism?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3355195/yuan-deeper-markets-ex-feds-evans-cites-dollar-playbook-amid-risks-criticism?utm_source=rss_feed Thu, 28 May 2026 14:00:13 +0000 Brian Rhoads,Raymond Ma Brian Rhoads,Raymond Ma The European Union’s executive arm is set to back a tougher line against Chinese imports at a key meeting on Friday as a flood of low-cost competition undermines local industries. Potential measures include requiring companies in key sectors to have at least three suppliers from two or more countries in a bid to pare reliance on China, the South China Morning Post reported. Industry commissioner Stephane Sejourne will back broader use of regulations designed to prevent foreign companies... https://www.scmp.com/plus/news/china/diplomacy/article/3355161/europe-plans-tougher-response-china-shock-20?utm_source=rss_feed https://www.scmp.com/plus/news/china/diplomacy/article/3355161/europe-plans-tougher-response-china-shock-20?utm_source=rss_feed Thu, 28 May 2026 09:00:59 +0000 Nicholas Spiro Nicholas Spiro A cursory glance at the performance of global stock markets this year suggests exposure to the boom in artificial intelligence (AI) is the overriding determinant of returns. Technology-heavy equity markets, especially those with a high concentration of leading semiconductor and tech hardware firms, have performed spectacularly. South Korea and Taiwan, major semiconductor hubs, are the poster children for the AI trade. The global chip shortage has led to a dramatic increase in the earnings and... https://www.scmp.com/opinion/world-opinion/article/3355115/how-ai-boom-obscuring-big-investment-opportunity-commodities?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3355115/how-ai-boom-obscuring-big-investment-opportunity-commodities?utm_source=rss_feed Thu, 28 May 2026 08:30:05 +0000 Daniel Ren Daniel Ren Global investors’ appetite for Chinese equities, companies and assets continues to rise owing to rapid technological advancements and low valuations in the world’s second-largest economy, according to JPMorgan Chase. Kwang Kam Shing, Hong Kong CEO and chair for North Asia at the biggest US bank, said that there remained significant potential for growth in foreign investment across Hong Kong and mainland China, as investors continued to demonstrate strong interest in uncovering new opportunities,... https://www.scmp.com/business/banking-finance/article/3355074/appeal-china-assets-keeps-rising-among-global-investors-jpmorgan-research-says?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3355074/appeal-china-assets-keeps-rising-among-global-investors-jpmorgan-research-says?utm_source=rss_feed Thu, 28 May 2026 02:00:11 +0000 Alice Li Alice Li Chinese energy companies are poised to play an important role in Southeast Asia’s ambitious green transition plans, which will see countries across the region integrate their power grids, according to a senior Singaporean official. The strategy could eventually lead to a cross-regional network running all the way from Singapore to southern China via nations including Malaysia and Thailand, according to Puah Kok Keong, chief executive of the Energy Market Authority of Singapore – the city state’s... https://www.scmp.com/economy/china-economy/article/3355042/how-southeast-asias-ambitious-green-transition-strategy-windfall-china?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3355042/how-southeast-asias-ambitious-green-transition-strategy-windfall-china?utm_source=rss_feed Thu, 28 May 2026 01:00:09 +0000 Carol Yang Carol Yang Months of disruption through the Strait of Hormuz have prompted a rethink of global supply chains, with South Korea now following China in pushing to commercialise the Arctic shipping route to Europe. South Korea aimed to open a regular route through the waters by 2030, following a trial voyage set to debut later this year, according to a broader maritime development plan released on Tuesday by Seoul’s Ministry of Oceans and Fisheries. “To prepare for the Arctic shipping era approaching after... https://www.scmp.com/economy/global-economy/article/3355044/first-china-now-south-korea-why-asian-powers-are-turning-commercial-arctic-shipping?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3355044/first-china-now-south-korea-why-asian-powers-are-turning-commercial-arctic-shipping?utm_source=rss_feed Wed, 27 May 2026 23:00:09 +0000 Daniel Ren Daniel Ren Hong Kong has overtaken Switzerland as the world’s largest cross-border wealth hub, driven by an initial public offering (IPO) bonanza and capital inflows from mainland China, according to Boston Consulting Group (BCG). Cross-border wealth booked in Hong Kong climbed 10.7 per cent in 2025 to US$2.95 trillion, narrowly beating Switzerland’s US$2.94 trillion after rising 7.6 per cent last year, the international consultancy said in its latest global wealth report released on Wednesday. “These... https://www.scmp.com/business/banking-finance/article/3355055/hong-kong-overtakes-switzerland-worlds-largest-cross-border-wealth-hub-bcg-finds?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3355055/hong-kong-overtakes-switzerland-worlds-largest-cross-border-wealth-hub-bcg-finds?utm_source=rss_feed Wed, 27 May 2026 11:16:37 +0000 Xiaofei Xu Xiaofei Xu A Dutch minister who was previously sanctioned by Beijing will lead a business delegation to China in early July, according to a source familiar with the planning, as the two nations navigate thorny bilateral issues such as newly proposed US export curbs on ASML chipmaking tools and the Nexperia ownership debacle. Sjoerd Sjoerdsma, who was recently removed from Beijing’s sanction list, will lead a four-day visit starting on July 6 with stops in Beijing and Shanghai. In the capital, the... https://www.scmp.com/economy/global-economy/article/3355057/chinas-date-once-sanctioned-dutch-trade-minister-cards-early-july-source?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3355057/chinas-date-once-sanctioned-dutch-trade-minister-cards-early-july-source?utm_source=rss_feed Wed, 27 May 2026 11:03:33 +0000 Karen Tian Karen Tian European companies’ confidence in the Chinese market is showing signs of rebounding for the first time since 2022, as Beijing is increasingly perceived as a “champion” of stability amid rising global volatility, according to a survey released on Wednesday. After years of spiralling pessimism, the European Union Chamber of Commerce in China found that “the intensity of the deterioration in confidence in China’s business environment has eased” among its members over the past year. In the group’s... https://www.scmp.com/economy/china-economy/article/3354911/eu-firms-china-starting-feel-less-gloomy-beijing-offers-stability-report?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3354911/eu-firms-china-starting-feel-less-gloomy-beijing-offers-stability-report?utm_source=rss_feed Wed, 27 May 2026 01:10:04 +0000 Daniel Ren Daniel Ren S&P Global Ratings has revised its outlook on Zijin Mining, mainland China’s largest mining company, to positive on the back of expanded production and stronger cost management. The outlook was raised from “stable” to “positive”, with S&P maintaining its “BBB” long-term issuer credit rating for Zijin, according to a statement on Tuesday. The upgrade reflected expectations that Zijin could rank among the world’s top three gold and copper producers by 2028, supported by a robust pipeline of... https://www.scmp.com/business/china-business/article/3354940/chinas-zijin-mining-outlook-raised-positive-stronger-output-and-cost-edge-sp?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3354940/chinas-zijin-mining-outlook-raised-positive-stronger-output-and-cost-edge-sp?utm_source=rss_feed Tue, 26 May 2026 13:41:59 +0000 Ralph Jennings Ralph Jennings China is better positioned than many other nations to lead in artificial intelligence due to the public’s “strikingly positive” attitude towards the technology, according to a new survey by University College London. Less than 10 per cent of respondents in China worried that AI would make it harder to find a job and about one-third believed the technology would create more high-skilled work, the survey found. A whopping 96 per cent of Chinese people surveyed said they used AI at work every week... https://www.scmp.com/economy/china-economy/article/3354861/less-10-chinese-public-worried-about-ai-destroying-jobs-survey?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3354861/less-10-chinese-public-worried-about-ai-destroying-jobs-survey?utm_source=rss_feed Tue, 26 May 2026 07:00:09 +0000 Yeon Woo Lee Yeon Woo Lee China has emerged as a major player in the global halal market, leveraging its manufacturing scale, logistics networks and trade links with Muslim-majority markets to expand exports, analysts said. Home to about 25 million Muslims – including Hui, Uygur, Kazakh and Dongxiang communities – China’s halal industry had long been shaped by domestic demand. But the growth of online and offline distribution channels, together with rising demand from younger Muslim consumers worldwide, has accelerated a... https://www.scmp.com/economy/china-economy/article/3354824/inside-chinas-unexpected-rise-global-halal-export-powerhouse?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3354824/inside-chinas-unexpected-rise-global-halal-export-powerhouse?utm_source=rss_feed Tue, 26 May 2026 01:59:42 +0000 Carol Yang Carol Yang A major diplomatic breakthrough between Washington and Tehran could signal sanctions relief for Iran, a development analysts say bodes well for China, the primary buyer of Iranian oil. Negotiations have advanced on a proposed 60-day ceasefire extension, the reopening of the Strait of Hormuz and the US side issuing temporary sanctions waivers that would allow Iran to sell oil freely, Axios reported on Saturday, citing a US official. Any such relief would only be implemented under a final... https://www.scmp.com/economy/global-economy/article/3354765/how-china-could-benefit-us-iran-talks-raise-hopes-oil-sanctions-relief?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3354765/how-china-could-benefit-us-iran-talks-raise-hopes-oil-sanctions-relief?utm_source=rss_feed Mon, 25 May 2026 13:00:06 +0000 Karen Tian Karen Tian US companies increased their investment in China before the two countries’ leaders met earlier this month, according to new data released by Beijing. Actually utilised foreign direct investment (FDI) from American firms rose 24.5 per cent year on year in the first four months of the year, the Ministry of Commerce said on Saturday. The figure was reached by including inflows through third regions, such as free trade ports, it added. Other FDI sources that recorded significant growth were... https://www.scmp.com/economy/china-economy/article/3354768/us-investment-returning-chinese-data-shows-double-digit-growth-early-2026?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3354768/us-investment-returning-chinese-data-shows-double-digit-growth-early-2026?utm_source=rss_feed Mon, 25 May 2026 11:00:06 +0000