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 Flights between China and Japan faced even more cancellations in March – with further cuts expected during the coming Labour Day holiday – as political tensions between the Asian neighbours continue to simmer. A total of 2,691 China-Japan flights were scrapped last month, according to figures from the data platform DAST cited by Chinese media outlet Yicai. That brought the cancellation rate to nearly 50 per cent, 1.1 percentage points higher than February. Only 2,711 flights between the two... https://www.scmp.com/economy/china-economy/article/3350995/2700-china-japan-flights-axed-march-rift-between-asian-powers-deepens?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3350995/2700-china-japan-flights-axed-march-rift-between-asian-powers-deepens?utm_source=rss_feed Wed, 22 Apr 2026 09:00:17 +0000 Sylvia Ma Sylvia Ma US Federal Reserve chair nominee Kevin Warsh’s policy vision – outlined during his Senate confirmation hearing – signals an extension of “America First” into monetary policy, Chinese analysts said. “Warsh’s policy proposals … mark a shift from acting as a ‘global central bank’ supplying unlimited liquidity worldwide to a new approach focused on tightly controlling the overall monetary spigot, prioritising domestic productivity and emphasising monetary sovereignty,” analysts at China... https://www.scmp.com/economy/global-economy/article/3350993/america-first-fed-trump-nominee-kevin-warsh-signals-monetary-sovereignty-push-analysts?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3350993/america-first-fed-trump-nominee-kevin-warsh-signals-monetary-sovereignty-push-analysts?utm_source=rss_feed Wed, 22 Apr 2026 08:30:14 +0000 Warwick Powell Warwick Powell In the spring of 2026, amid a fragile ceasefire in the Strait of Hormuz, President Donald Trump continues to insist that the United States is untouched by disruptions in the Persian Gulf. “We don’t use it”, he has claimed, echoing years of “energy dominance” rhetoric. The numbers tell a different story. The United States remains a net importer of crude oil. Its refineries are engineered for the medium sour barrels that flow through the Hormuz Strait. And the global price shock triggered by the... https://www.scmp.com/opinion/world-opinion/article/3350726/iran-war-reflects-false-promise-us-energy-dominance?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3350726/iran-war-reflects-false-promise-us-energy-dominance?utm_source=rss_feed Wed, 22 Apr 2026 08:30:09 +0000 Mia Nurmamat Mia Nurmamat China’s shipyards are emerging as beneficiaries from the US-Israeli war on Iran, securing new orders as crude transport bottlenecks worsen and global demand for large oil tankers rises. With the United States and Iran effectively blockading the Strait of Hormuz – a chokepoint that handles about a quarter of the world’s seaborne oil – shipping companies are racing to expand capacity, particularly in very large crude carriers (VLCCs) capable of transporting about 2 million barrels of oil per... https://www.scmp.com/economy/global-economy/article/3350872/chinas-shipyards-secure-wave-oil-tanker-orders-iran-war-drives-demand?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3350872/chinas-shipyards-secure-wave-oil-tanker-orders-iran-war-drives-demand?utm_source=rss_feed Wed, 22 Apr 2026 00:00:20 +0000 Sylvia Ma Sylvia Ma The West’s narrative of Chinese “overcapacity” is a double standard, said a former chief economist of the World Bank as he urged advanced economies to draw on “Eastern wisdom” rather than protectionism to navigate the rise of hi-tech competition. Justin Lin Yifu, a prominent advocate of Beijing’s industrial policy, dismissed claims that China’s auto-export surge was a sign of industrial imbalance. Speaking at Hong Kong Chu Hai College, Lin drew a contrast with Germany to expose a logical... https://www.scmp.com/economy/china-economy/article/3350885/economist-justin-lin-urges-west-adopt-eastern-wisdom-china-moves-value-chain?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3350885/economist-justin-lin-urges-west-adopt-eastern-wisdom-china-moves-value-chain?utm_source=rss_feed Tue, 21 Apr 2026 13:00:12 +0000 Xiaofei Xu,Finbarr Bermingham Xiaofei Xu,Finbarr Bermingham Chinese railway giant CRRC has been forced out of a Lisbon metro contract in favour of a Polish firm, after a European Commission investigation found that foreign subsidies allowed CRRC to underbid rivals. “The in-depth investigation confirmed these preliminary findings, revealing that the subsidies in question had indeed given the consortium an unfair competitive edge, to the detriment of other bidders taking part in the tender and the integrity of the EU’s internal market,” the European... https://www.scmp.com/economy/global-economy/article/3350912/chinas-crrc-drops-bid-lisbon-metro-deal-eu-finds-billions-subsidies-probe?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3350912/chinas-crrc-drops-bid-lisbon-metro-deal-eu-finds-billions-subsidies-probe?utm_source=rss_feed Tue, 21 Apr 2026 12:36:39 +0000 Frank Chen Frank Chen Beijing is putting its power strategy under the microscope as China navigates the impact of a shipping crisis in the Strait of Hormuz that risks becoming a long-term economic liability. Calling energy security a pillar of national stability, Premier Li Qiang on Monday convened a high-level study session of the State Council, China’s Cabinet, according to Xinhua. The meeting, focused on coordinating energy security and the sector’s transformation, was the latest in a series of policy discussions... https://www.scmp.com/economy/china-economy/article/3350896/china-confronts-middle-east-supply-shock-state-council-mulls-energy-strategy?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3350896/china-confronts-middle-east-supply-shock-state-council-mulls-energy-strategy?utm_source=rss_feed Tue, 21 Apr 2026 11:00:14 +0000 He Huifeng He Huifeng China has announced that it now has the capacity to build up to 50 nuclear reactors simultaneously, as it doubles down on a push to rapidly expand its nuclear power generation and become a global leader in the sector. The figure came from a report released by the China Nuclear Energy Association (CNEA) on Friday, which highlights the country’s ability to run dozens of nuclear projects concurrently spanning the full project life cycle – from design to construction. “China’s nuclear technology... https://www.scmp.com/economy/china-economy/article/3350847/chinas-vast-nuclear-power-sector-now-able-build-50-reactors-time?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3350847/chinas-vast-nuclear-power-sector-now-able-build-50-reactors-time?utm_source=rss_feed Tue, 21 Apr 2026 07:12:39 +0000 Brian Y. S. Wong Brian Y. S. Wong There is a tendency to portray the global artificial intelligence (AI) landscape as consisting of two bitter rivals – China and the United States. The remaining 80 per cent of the world’s population, by virtue of their supposed dearth of scale, research and other critical overheads, are purportedly followers with no agency. The reality is more complex. The emerging global AI order is neither unipolar nor strictly bipolar. Instead, it is characterised by a swathe of middle powers hedging their... https://www.scmp.com/opinion/hong-kong-opinion/article/3350129/hong-kong-can-advance-ai-beyond-confines-geopolitical-rivalry?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3350129/hong-kong-can-advance-ai-beyond-confines-geopolitical-rivalry?utm_source=rss_feed Tue, 21 Apr 2026 01:30:09 +0000 Daniel Ren Daniel Ren European consumers, spooked by rising oil prices due to the Middle East conflict, rushed to buy battery-powered cars last month, with Chinese electric vehicle (EV) brands poised to reap the benefits and give their global expansion a boost. Battery EV (BEV) registrations, a proxy for retail sales, climbed 51 per cent month on month in March, topping 224,000 units across 15 key European Union (EU) markets, according to data jointly released by research firm New Automotive and industry consortium... https://www.scmp.com/business/china-evs/article/3350776/jump-eu-ev-sales-amid-iran-war-boosts-chinese-brands-fortunes?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3350776/jump-eu-ev-sales-amid-iran-war-boosts-chinese-brands-fortunes?utm_source=rss_feed Mon, 20 Apr 2026 23:30:07 +0000 Carol Yang Carol Yang As the US-Israel war on Iran raises global concerns about energy security, a new report has found that the clean power sector is rapidly gaining ground and emerging as a solution for nations looking to reduce their reliance on oil and gas imports. The world passed a significant turning point in 2025 as clean power generation rose faster than global demand for electricity, preventing an increase in fossil fuel generation, according to the study by London-based energy think tank Ember released on... https://www.scmp.com/economy/global-economy/article/3350759/turning-point-clean-energy-met-100-worlds-new-power-needs-2025-report?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3350759/turning-point-clean-energy-met-100-worlds-new-power-needs-2025-report?utm_source=rss_feed Mon, 20 Apr 2026 23:01:07 +0000 Frank Chen Frank Chen With global attention fixed on the US and Iranian shipping blockades in the Strait of Hormuz and how many vessels have traversed the critically important waterway, a leading Chinese investment bank has been calculating the long-term gains and losses and how they could rewrite the global economic order. The United States was on the horns of a dilemma over the strait that might herald an acceleration of Washington’s strategic retreat and its increasingly transactional relationships with other... https://www.scmp.com/economy/china-economy/article/3350721/hormuz-moment-could-herald-decline-us-dominance-citic-securities-analysts?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3350721/hormuz-moment-could-herald-decline-us-dominance-citic-securities-analysts?utm_source=rss_feed Mon, 20 Apr 2026 14:00:08 +0000 Frank Chen Frank Chen The chief of China’s top economic planner has outlined strategies and priorities to safeguard economic security, as Beijing reassesses its preparedness and vulnerabilities amid disruptions in the Strait of Hormuz during the US-Israeli war on Iran. Zheng Shanjie, head of the National Development and Reform Commission (NDRC), warned external risks were mounting and said China had to reinforce its strategic reserves and response capabilities. “The evolution of the international situation is... https://www.scmp.com/economy/china-economy/article/3350753/hormuz-crisis-exposes-fragile-global-supply-chains-how-will-china-respond?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3350753/hormuz-crisis-exposes-fragile-global-supply-chains-how-will-china-respond?utm_source=rss_feed Mon, 20 Apr 2026 13:00:08 +0000 Ralph Jennings Ralph Jennings China’s central bank chief has urged the IMF to serve as a bulwark against “rising unilateralism”, at a time when escalating trade restrictions and an intensified Middle East conflict threaten energy and food security. The International Monetary Fund should “take a clear stand against protectionism and defend multilateralism”, People’s Bank of China governor Pan Gongsheng said in a statement to the fund’s International Monetary and Financial Committee, for its 53rd meeting, held on Thursday and... https://www.scmp.com/economy/global-economy/article/3350718/china-presses-imf-quota-reform-better-surveillance-advanced-economies?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3350718/china-presses-imf-quota-reform-better-surveillance-advanced-economies?utm_source=rss_feed Mon, 20 Apr 2026 09:05:04 +0000 Mia Nurmamat Mia Nurmamat China’s trade with Iran and Gulf countries fell sharply in March as restrictions on the Strait of Hormuz tightened amid the US-Israeli war on Iran. Newly released data by Chinese customs showed imports from Iran plunged 48 per cent year on year last month, while exports to the country dropped 90 per cent. Across the broader Middle East, exports to eight Persian Gulf economies – including Saudi Arabia and Qatar – fell by 57 per cent, while imports declined by nearly 33 per cent. The disruption... https://www.scmp.com/economy/china-economy/article/3350703/chinas-trade-iran-gulf-states-plunges-strait-hormuz-crisis-hits-energy-flows?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3350703/chinas-trade-iran-gulf-states-plunges-strait-hormuz-crisis-hits-energy-flows?utm_source=rss_feed Mon, 20 Apr 2026 08:06:21 +0000 Ralph Jennings Ralph Jennings Asia-Pacific economies are likely to suffer a slowdown in growth this year, as rising costs linked to the US-Israel war on Iran combine with lingering trade uncertainty to threaten global trade flows, according to forecasts by top international organisations. The predictions come despite China showing resilience in the first quarter by posting better-than-expected growth of 5 per cent and finance minister Lan Foan last week stressing that the world’s second-largest economy would remain an engine... https://www.scmp.com/economy/china-economy/article/3350676/asia-growth-forecasts-slashed-iran-war-and-tariffs-threaten-supply-chains?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3350676/asia-growth-forecasts-slashed-iran-war-and-tariffs-threaten-supply-chains?utm_source=rss_feed Mon, 20 Apr 2026 05:00:10 +0000 Kai-Lung Hui Kai-Lung Hui Generative artificial intelligence (AI) powered by large language models presents a significant breakthrough. For the first time, humans are communicating with computers using language instructions. This has enabled the use of AI agents to perform intelligent tasks involving some degree of advanced reasoning and complex logic. Vibe coding – the use of AI for programming and software development by lay persons – empowers end-user application deployments. One-person companies using AI agents to... https://www.scmp.com/opinion/world-opinion/article/3350030/ai-advancing-now-its-humans-redefine-their-worth?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3350030/ai-advancing-now-its-humans-redefine-their-worth?utm_source=rss_feed Sun, 19 Apr 2026 08:30:07 +0000 Ralph Jennings Ralph Jennings Construction of a US$1 billion Chinese-invested hydropower station has begun in Cambodia to facilitate the Southeast Asian country’s use of renewable energy as the fallout from the Iran war constricts developing countries’ access to traditional fuel supplies. Work on the Upper Tatay pumped-storage hydropower project in the hilly southwestern province of Koh Kong started on April 10, Xinhua reported, describing it as a future “green power bank” for Cambodia’s national grid. It said the project... https://www.scmp.com/economy/china-economy/article/3350480/china-begins-building-us1-billion-hydropower-station-cambodia-amid-energy-crisis?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3350480/china-begins-building-us1-billion-hydropower-station-cambodia-amid-energy-crisis?utm_source=rss_feed Sun, 19 Apr 2026 00:00:15 +0000 Fox Yi Hu Fox Yi Hu In Canada, fans and foes of Chinese electric vehicles are holding their breath for brands like BYD to hit the market. Whether they love them or not, they share the hope that Chinese carmakers will help to bring all EV prices down, as affordability becomes a growing concern for consumers. Companies including BYD, Geely, Nio and Xpeng are preparing to roll out sales locations in Canada, seizing the opportunity of warmer ties between the two countries. Ottawa struck a milestone trade deal with... https://www.scmp.com/economy/china-economy/article/3350483/china-trade-deal-has-canadians-looking-forward-cheaper-electric-vehicles?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3350483/china-trade-deal-has-canadians-looking-forward-cheaper-electric-vehicles?utm_source=rss_feed Sat, 18 Apr 2026 12:00:09 +0000 Sylvia Ma Sylvia Ma The US-Israeli war on Iran has unleashed sharp swings across global energy and financial markets, fuelling demand for safe-haven assets, with Hong Kong emerging as a potential beneficiary across gold, property and capital markets. In the first of a three-part series, we examine Hong Kong’s bid to position itself as Asia’s bullion hub. War in the Middle East has intensified global demand to diversify gold storage, creating a strategic window for Hong Kong to tap its unique status and evolve from... https://www.scmp.com/economy/global-economy/article/3350511/hong-kong-wants-become-global-gold-vault-does-iran-war-create-opening?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3350511/hong-kong-wants-become-global-gold-vault-does-iran-war-create-opening?utm_source=rss_feed Sat, 18 Apr 2026 06:00:16 +0000 Xiaofei Xu,He Huifeng Xiaofei Xu,He Huifeng With domestic profits narrowing and production capacity expanding, China’s firms are continuing to widen their overseas footprints in search of new, more lucrative markets. In this series, we examine China Inc.’s next phase of “going global” and the complex, challenging international environment its companies have chosen to enter. When Lawrence Wong decided to set up a toy factory in Vietnam last year, he had a clear plan: 600 square metres (6,458 sq ft) of floor space at the start of 2026, with... https://www.scmp.com/economy/china-economy/article/3350477/chinese-manufacturers-recalibrate-overseas-expansion-plans-wake-iran-war?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3350477/chinese-manufacturers-recalibrate-overseas-expansion-plans-wake-iran-war?utm_source=rss_feed Fri, 17 Apr 2026 22:00:09 +0000 He Huifeng He Huifeng Some exporters at the Canton Fair in Guangzhou report a modest return of orders to China from Southeast Asia, as energy-market volatility linked to the US-Israeli war in Iran prompts some Western buyers to prioritise supply chain stability. The shift is visible in buyer patterns on the exhibition floor, where the number from Europe and the United States appears to have recovered from last year’s levels, according to Chinese exporters, with more inquiries for home appliances, new energy products... https://www.scmp.com/economy/global-economy/article/3350446/iran-war-energy-shock-threatens-southeast-asias-supply-chains-win-china?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3350446/iran-war-energy-shock-threatens-southeast-asias-supply-chains-win-china?utm_source=rss_feed Fri, 17 Apr 2026 13:30:08 +0000 Carol Yang Carol Yang To sharpen its competitive edge in the world’s next-generation vehicle market, China has pledged to fast track automotive technical standards to build its status as a global rule-setter. The carmaking powerhouse would drive high-quality development of the auto sector through the formulation and enhancement of core standards during the next five years, officials from the Ministry of Industry and Information Technology (MIIT) told state broadcaster China Central Television (CCTV) in Beijing on... https://www.scmp.com/economy/china-economy/article/3350467/chinese-ministry-focuses-car-standards-put-industry-global-driving-seat?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3350467/chinese-ministry-focuses-car-standards-put-industry-global-driving-seat?utm_source=rss_feed Fri, 17 Apr 2026 10:30:09 +0000 Ralph Jennings Ralph Jennings Vietnamese budget carrier VietJet Air has agreed to lease as many as 10 Chinese-made C909 regional passenger jets, giving a lift to their manufacturer’s goal of vying with Airbus and Boeing in overseas civil aviation. VietJet said in a statement on Thursday night it had agreed with SPDB Financial Leasing, a subsidiary of Shanghai Pudong Development Bank in China, to finance the aircraft through operating leases. Commercial Aircraft Corporation of China (Comac) makes the jets that are the subject... https://www.scmp.com/economy/china-economy/article/3350431/vietnamese-airline-lease-10-c909-jets-boost-chinese-aircraft-maker?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3350431/vietnamese-airline-lease-10-c909-jets-boost-chinese-aircraft-maker?utm_source=rss_feed Fri, 17 Apr 2026 07:00:31 +0000 Mia Nurmamat Mia Nurmamat China’s food supply could be vulnerable to global price spikes triggered by extreme weather or global conflict, as international bodies warn the US-Israel war on Iran is worsening food insecurity worldwide. The country has sufficient staple grain supplies, but Beijing said the nation’s food sector still faced structural challenges, including a weak processing industry and a lack of high-quality crop varieties in some areas. These weaknesses could pose problems for China if global food markets... https://www.scmp.com/economy/china-economy/article/3350320/china-warns-food-security-risks-iran-war-threatens-global-supplies?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3350320/china-warns-food-security-risks-iran-war-threatens-global-supplies?utm_source=rss_feed Fri, 17 Apr 2026 02:00:23 +0000 Daniel Ren Daniel Ren One in every six Asia-Pacific companies would face credit pressure from a prolonged energy shock arising from the Middle East conflict, as they deal with higher costs from rising oil prices and supply disruptions, according to S&P Global Ratings. Companies in the fields of downstream oil and gas, aviation, automotive, engineering and construction, and building materials would bear the brunt of the pain brought on by the war that has already sent crude prices up more than 30 per cent since the... https://www.scmp.com/business/banking-finance/article/3350357/one-six-asia-pacific-firms-faces-credit-pressure-iran-war-energy-shock-sp-says?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3350357/one-six-asia-pacific-firms-faces-credit-pressure-iran-war-energy-shock-sp-says?utm_source=rss_feed Thu, 16 Apr 2026 23:00:13 +0000 Kandy Wong Kandy Wong Trade tensions between the US and China have made companies around the world less keen to invest in either country, with the United States almost twice as unpopular, according to a new report from Allianz Trade. The report, based on an annual survey by the Paris-based international insurance company, said US-China decoupling had not materialised, but investment intention towards China had dropped “significantly” to 24 per cent of survey respondents, down from 53 per cent a year ago. The survey... https://www.scmp.com/economy/china-economy/article/3350343/trade-tensions-make-rest-world-less-keen-invest-us-and-china-survey-finds?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3350343/trade-tensions-make-rest-world-less-keen-invest-us-and-china-survey-finds?utm_source=rss_feed Thu, 16 Apr 2026 13:00:11 +0000 Xinyi Wu Xinyi Wu Beijing has raised the limit on banks’ overseas lending – a move that analysts say will support Chinese firms in outbound investment expansions while helping to stabilise the yuan. Regulators raised the overseas-loan leverage ratio for foreign banks in China and their joint ventures with Chinese lenders from 0.5 to 1.5 on Wednesday, according to a statement published by the central bank and the foreign exchange regulator. In a separate statement, the regulators said that the new rules would... https://www.scmp.com/economy/china-economy/article/3350350/chinas-pboc-raises-leverage-ratios-foreign-lenders-support-outbound-investment?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3350350/chinas-pboc-raises-leverage-ratios-foreign-lenders-support-outbound-investment?utm_source=rss_feed Thu, 16 Apr 2026 12:30:13 +0000 Sylvia Ma Sylvia Ma China continued to diversify its foreign exchange reserves in February, trimming its US Treasury stockpile even as overall overseas holdings of sovereign American debt rose to a record high. China’s stockpile of United States Treasuries fell to US$693.3 billion in February, down from US$694.4 billion in January, according to US Treasury Department data released on Wednesday. Although China slightly increased its US Treasury holdings in January, the uptick did little to alter a broader downward... https://www.scmp.com/economy/global-economy/article/3350275/china-trims-us-treasury-holdings-amid-rising-debt-supply-global-ownership-hits-record?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3350275/china-trims-us-treasury-holdings-amid-rising-debt-supply-global-ownership-hits-record?utm_source=rss_feed Thu, 16 Apr 2026 07:00:13 +0000 Xinyi Wu,Mia Nurmamat Xinyi Wu,Mia Nurmamat China’s economy grew 5 per cent year on year in the first quarter, beating market expectations despite the global impact of the US-Israel war in Iran, which analysts said indicates the country remains on track to meet its full-year growth target without the need for near-term stimulus. The closely watched gross domestic product growth figure, released by the National Bureau of Statistics (NBS) on Thursday, beat the 4.86 per cent forecast by economists polled by financial data provider Wind. It... https://www.scmp.com/economy/economic-indicators/article/3350237/china-records-5-gdp-growth-first-quarter-track-annual-target?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3350237/china-records-5-gdp-growth-first-quarter-track-annual-target?utm_source=rss_feed Thu, 16 Apr 2026 02:00:21 +0000 He Huifeng He Huifeng Rising tensions in the Middle East cast a fresh shadow over the opening of China’s largest trade fair, at a time when the impact of geopolitical shocks is being reflected in the nation’s trade figures. In conversations across sprawling exhibition halls after the Canton Fair opened its doors on Wednesday in China’s manufacturing hub of Guangzhou, domestic exporters and foreign buyers sounded each other out, trying to gauge how far those shocks might ripple through global trade. The threat of US... https://www.scmp.com/economy/global-economy/article/3350200/canton-fair-under-middle-east-cloud-sets-records-high-costs-hit-chinas-exporters?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3350200/canton-fair-under-middle-east-cloud-sets-records-high-costs-hit-chinas-exporters?utm_source=rss_feed Thu, 16 Apr 2026 00:00:13 +0000 Kandy Wong Kandy Wong A decoupling between China and the United States is something “that you don’t want to see”, says former US Treasury secretary Janet Yellen, adding that both countries have developed deep trade and investment relationships that should be preserved and encouraged to thrive. Speaking in Hong Kong at the HSBC Global Investment Summit on Wednesday, Yellen also argued that China’s reliance on exports for growth – resulting in a trade surplus with the rest of the world – has created “serious conflicts”... https://www.scmp.com/economy/global-economy/article/3350169/yellen-says-no-alternative-dollar-urges-us-china-cooperation-sake-world?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3350169/yellen-says-no-alternative-dollar-urges-us-china-cooperation-sake-world?utm_source=rss_feed Wed, 15 Apr 2026 15:00:09 +0000 Carol Yang Carol Yang Though high-level officials in Washington have accused China of undermining global energy security by “hoarding” oil during the US-Israeli war on Iran, import and inventory data suggest Beijing is facing its own supply pressures as the conflict drags on. US Treasury Secretary Scott Bessent on Tuesday labelled China an “unreliable global partner,” alleging that Beijing has prioritised stockpiling crude over easing global shortages triggered by the war, according to a Reuters report. He also... https://www.scmp.com/economy/global-economy/article/3350180/us-officials-claim-china-hoarding-oil-what-does-data-say?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3350180/us-officials-claim-china-hoarding-oil-what-does-data-say?utm_source=rss_feed Wed, 15 Apr 2026 13:30:09 +0000 Mia Nurmamat Mia Nurmamat The US-Israeli war on Iran and the current Iranian and American blockades of shipping through the Strait of Hormuz are likely to overshadow China’s first-quarter economic performance, analysts said, with questions looming large about how the world’s second-largest economy will handle their impact. Many observers said they expect the leadership in Beijing will adopt a wait-and-see approach, with little likelihood of an immediate stimulus to guarantee the country’s annual economic target is... https://www.scmp.com/economy/economic-indicators/article/3350181/analysts-doubt-iran-war-will-prompt-china-stimulus-tip-solid-first-quarter-gdp-growth?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3350181/analysts-doubt-iran-war-will-prompt-china-stimulus-tip-solid-first-quarter-gdp-growth?utm_source=rss_feed Wed, 15 Apr 2026 13:00:24 +0000 He Huifeng He Huifeng China’s leading steelmakers are stepping up coordinated efforts to adjust export strategies, compliance systems and pricing models in response to this year’s full implementation of the EU’s tariff-like Carbon Border Adjustment Mechanism (CBAM), which imposes direct carbon-linked costs on imports. “China’s indirect steel exports to the EU are substantial, and a significant portion consists of high value-added products,” said Jiang Wei, vice-chairman and secretary general of the China Iron and... https://www.scmp.com/economy/china-economy/article/3350177/chinese-steelmakers-coordinate-response-eus-carbon-linked-import-imposts?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3350177/chinese-steelmakers-coordinate-response-eus-carbon-linked-import-imposts?utm_source=rss_feed Wed, 15 Apr 2026 10:30:10 +0000 Sylvia Ma Sylvia Ma The International Chamber of Shipping (ICS) has denounced proposed tolls in the Strait of Hormuz as a worrisome step in the wrong direction, while noting that several thousand stranded seafarers remain the international shipping community’s foremost concern. “Freedom of navigation has to be one of the pillars of free trade, and it would be a retrograde step – a really bad step,” said John Denholm, chair designate of the ICS, referring to the idea of charging vessels to transit the oil... https://www.scmp.com/economy/global-economy/article/3350067/hormuz-blockade-shipping-industry-slams-transit-fees-20000-seafarers-still-stranded?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3350067/hormuz-blockade-shipping-industry-slams-transit-fees-20000-seafarers-still-stranded?utm_source=rss_feed Wed, 15 Apr 2026 03:00:27 +0000 Mia Nurmamat Mia Nurmamat As the US imposes its own blockade on shipping through the Strait of Hormuz following the collapse of talks with Iran at the weekend, we take a look at how major economies in Asia and Europe could be affected by further restrictions on passage through one of the world’s most critical choke points for energy supplies. Who is most vulnerable in this energy crisis? According to a recent report by Japanese investment bank Nomura, the regions most exposed to the tensions in the Persian Gulf are Asian... https://www.scmp.com/economy/global-economy/article/3350051/which-countries-are-most-vulnerable-us-imposes-its-own-blockade-persian-gulf?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3350051/which-countries-are-most-vulnerable-us-imposes-its-own-blockade-persian-gulf?utm_source=rss_feed Wed, 15 Apr 2026 00:00:17 +0000 Ralph Jennings Ralph Jennings The International Monetary Fund (IMF) has lowered its global economic growth forecast, including for China, citing shocks from the US-Israeli war in Iran. In its flagship World Economic Outlook published on Tuesday, the IMF projected worldwide gross domestic product growth at 3.1 per cent this year, down 0.2 percentage points from its January estimate. China – the world’s second-largest economy – is now expected to expand by 4.4 per cent this year. That would miss the IMF’s January estimate by... https://www.scmp.com/economy/global-economy/article/3350042/imf-cuts-chinas-gdp-growth-forecast-44-iran-war-pressures-global-economy?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3350042/imf-cuts-chinas-gdp-growth-forecast-44-iran-war-pressures-global-economy?utm_source=rss_feed Tue, 14 Apr 2026 13:00:10 +0000 Carol Yang Carol Yang A leading sovereign wealth fund from Central Asia has cast a vote of confidence in Chinese debt and the country’s currency by becoming the first institution from the region to sell yuan-denominated debt, known as panda bonds, in China’s onshore market. The decision by Kazakhstan’s sovereign wealth fund, Samruk-Kazyna, to sell 3 billion yuan (US$440 million) in China’s interbank market comes as global investors are looking for safe havens amid geopolitical uncertainties such as the Iran war. The... https://www.scmp.com/economy/china-economy/article/3350040/kazakh-sovereign-fund-issues-central-asias-first-panda-bond-milestone-sale?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3350040/kazakh-sovereign-fund-issues-central-asias-first-panda-bond-milestone-sale?utm_source=rss_feed Tue, 14 Apr 2026 10:00:24 +0000 Francis Neoton Cheung Francis Neoton Cheung The world is undergoing a transformation of historic proportions. Geopolitical rivalry, economic restructuring and technological acceleration are converging to reshape the global order. These changes transcend the logic of any single nation, industry or moment in time, exerting profound influence on international politics, geoeconomics, industrial structures, capital flows and investment strategies. For Hong Kong, this “great change unseen in a century” is not an abstraction. It is a pressing... https://www.scmp.com/opinion/china-opinion/article/3349883/hong-kong-must-go-beyond-its-intermediary-role-become-global-anchor?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3349883/hong-kong-must-go-beyond-its-intermediary-role-become-global-anchor?utm_source=rss_feed Tue, 14 Apr 2026 08:30:08 +0000 Kandy Wong Kandy Wong As China looks to central Asia for more energy supplies to offset shipping disruptions amid the Iran war, Vice-Premier Ding Xuexiang will travel to Turkmenistan to visit local gas fields and to attend a bilateral cooperation meeting. Ding, who is China’s top-ranking vice-premier, will kick off his three-day visit on Wednesday by attending the groundbreaking ceremony for the fourth phase of the Galkynysh gas field as President Xi Jinping’s special representative, Xinhua reported. Ding will also... https://www.scmp.com/economy/global-economy/article/3350028/china-turns-central-asia-us-blockade-hormuz-chokes-global-energy-flows?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3350028/china-turns-central-asia-us-blockade-hormuz-chokes-global-energy-flows?utm_source=rss_feed Tue, 14 Apr 2026 08:30:02 +0000 Fan Hou,Haining Gao Fan Hou,Haining Gao China’s export growth slowed to 2.5 per cent in March, while imports rose 27.8 per cent, narrowing the monthly trade surplus to US$51 billion, the lowest in over a year. Sectors Chinese electric vehicles (EVs) are poised to fuel export growth this year as high petrol prices accelerate the shift away from internal combustion engines. In March, total motor vehicle exports jumped 44 per cent according to China Customs, while EV exports soared 140 per cent per the China Passenger Car... https://www.scmp.com/plus/economy/global-economy/article/3349996/chinas-march-trade?utm_source=rss_feed https://www.scmp.com/plus/economy/global-economy/article/3349996/chinas-march-trade?utm_source=rss_feed Tue, 14 Apr 2026 07:34:13 +0000 Ralph Jennings Ralph Jennings Jet fuel shortages and surging prices are forcing flight cancellations across the Asia-Pacific, a squeeze that could intensify after the United States began controlling oil shipments through the Strait of Hormuz following failed peace talks with Iran. Tehran’s effective closure of the strait – a chokepoint for about 20 per cent of global oil supply – is hitting regional airlines, particularly in countries without strategic energy reserves, analysts said. Jet fuel reached nearly US$198 in the... https://www.scmp.com/economy/global-economy/article/3349928/asia-air-travel-faces-turbulence-iran-war-exposes-jet-fuel-vulnerability?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3349928/asia-air-travel-faces-turbulence-iran-war-exposes-jet-fuel-vulnerability?utm_source=rss_feed Tue, 14 Apr 2026 02:00:31 +0000 Xinyi Wu Xinyi Wu A leading European business association in China has urged Brussels to avoid becoming a “passive recipient” of US-China trade negotiations, as European firms scramble to navigate Beijing’s export controls. In a report released on Tuesday, the European Union Chamber of Commerce in China asserted that the EU must take the lead in discussions affecting its interests, while urging Beijing to avoid a one-size-fits-all approach to export controls. “We’re in a situation where Europe simply cannot... https://www.scmp.com/economy/global-economy/article/3349937/brussels-must-resist-passive-role-us-china-trade-war-eu-chamber-urges?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3349937/brussels-must-resist-passive-role-us-china-trade-war-eu-chamber-urges?utm_source=rss_feed Tue, 14 Apr 2026 01:30:14 +0000 Sylvia Ma Sylvia Ma The economist famously dubbed “Doctor Doom” for predicting the 2008 financial crisis has seemingly morphed into a bullish “Doctor Boom” with his latest economic outlook. Nouriel Roubini now predicts that a “Cambrian explosion” of technological advances – including artificial intelligence – could propel the US’ potential economic growth to 4 per cent by 2030, and as high as 10 per cent in less than a quarter-century, overshadowing Middle East oil shocks and other near-term headwinds. Framing AI... https://www.scmp.com/economy/global-economy/article/3349920/us-china-seen-top-ai-beneficiaries-new-growth-forecast-doctor-doom-economist?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3349920/us-china-seen-top-ai-beneficiaries-new-growth-forecast-doctor-doom-economist?utm_source=rss_feed Mon, 13 Apr 2026 10:06:00 +0000 Kandy Wong Kandy Wong China’s reported decision to halt sulphuric acid exports, together with the failure of peace talks between the United States and Iran over the weekend, risks driving prices higher and disrupting global mining and fertiliser supply chains that have few readily available alternatives. Beijing had indicated it would halt shipments of sulphuric acid from May, according to reports from Acuity Commodities and Bloomberg, though no official announcement has been made. Economists said food security sat... https://www.scmp.com/economy/global-economy/article/3349884/china-iran-war-and-chemical-suddenly-stoking-global-supply-fears?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3349884/china-iran-war-and-chemical-suddenly-stoking-global-supply-fears?utm_source=rss_feed Mon, 13 Apr 2026 08:00:01 +0000 Xinyi Wu Xinyi Wu Faltering confidence in the US dollar has handed China a “golden window of opportunity” to promote the global use of its currency, according to a former head of the Chinese central bank. “The core driving force behind the current changes in the international monetary system is the United States’ own policy choices,” Zhou Xiaochuan was quoted as saying in a report published on Sunday by the New Economist, a Chinese think tank. He cited the broad application of American tariffs, the frequent use... https://www.scmp.com/economy/global-economy/article/3349868/yuans-golden-window-open-former-pboc-governor-says-us-dollar-credibility-teeters?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3349868/yuans-golden-window-open-former-pboc-governor-says-us-dollar-credibility-teeters?utm_source=rss_feed Mon, 13 Apr 2026 06:59:34 +0000 Frank Chen Frank Chen China’s aviation authorities have mobilised a range of resources to support European certification of the C919, the home-grown airliner aiming to take on Boeing and Airbus, with steady progress made in recent months, multiple sources said. Technicians and pilots from the European Union Aviation Safety Agency (EASA) have set up shop in Shanghai for more checks and in-flight tests in recent months, according to a source who took part in some technological exchanges with the agency. “They now stay... https://www.scmp.com/economy/china-economy/article/3349669/eu-tests-chinas-c919-speed-pilots-stay-shanghai-permanently-sources?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3349669/eu-tests-chinas-c919-speed-pilots-stay-shanghai-permanently-sources?utm_source=rss_feed Mon, 13 Apr 2026 02:00:11 +0000 Daniel Ren Daniel Ren Hyundai Motor has spearheaded a comeback among foreign marques vying for a slice of the Chinese electric vehicle (EV) market, launching a new brand built around local technologies and partnerships. The South Korean carmaker, which reversed a six-year sales decline in 2025, said it would soon introduce production models under the Ioniq brand tailored for Chinese consumers, as it steps up its push into the world’s largest automotive market. “The newly launched Ioniq brand in China evolves beyond a... https://www.scmp.com/business/china-business/article/3349776/hyundai-spearheads-foreign-ev-comeback-push-china-ioniq-brand?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3349776/hyundai-spearheads-foreign-ev-comeback-push-china-ioniq-brand?utm_source=rss_feed Sun, 12 Apr 2026 05:20:54 +0000 Martin Brownbridge,Sudharshan Canagarajah Martin Brownbridge,Sudharshan Canagarajah The war in the Gulf has hit Asian economies hard. The shock to global energy supplies is driving up fuel prices, threatening energy shortages and has the potential to cause economic stagnation and inflation. In response, governments across the region have been implementing emergency policy measures to shield their citizens from rising prices and job losses and to maintain economic growth. Vietnam has temporarily suspended some fuel taxes, while the Philippines has declared a state of national... https://www.scmp.com/opinion/asia-opinion/article/3349259/hormuz-crisis-chance-spur-asias-shift-clean-secure-energy?utm_source=rss_feed https://www.scmp.com/opinion/asia-opinion/article/3349259/hormuz-crisis-chance-spur-asias-shift-clean-secure-energy?utm_source=rss_feed Sat, 11 Apr 2026 21:30:09 +0000