https://www.scmp.com/rss/318421/feed China economy news, including budget, the stock market 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 Mia Nurmamat Mia Nurmamat In its latest effort to support the employment of millions of fresh graduates, China is mobilising state-owned enterprises (SOEs) and major private technology firms to expand hiring, marking one of its broadest labour market interventions in recent years. Eight government departments, including the Ministry of Human Resources and Social Security, have launched a nationwide campaign requiring SOEs to hire more graduates from the class of 2026 – as well as those who have remained unemployed since... https://www.scmp.com/economy/china-economy/article/3356109/china-urges-soes-internet-companies-offer-more-jobs-127-million-set-graduate?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3356109/china-urges-soes-internet-companies-offer-more-jobs-127-million-set-graduate?utm_source=rss_feed Sat, 06 Jun 2026 05:00:05 +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 Frank Chen Frank Chen As Shenzhen prepares to break ground on a new high-speed railway station later this month, some residents of the southern Chinese tech hub worry it may not be big enough. The 13.2 billion yuan (US$1.9 billion) Xili Station in the city’s downtown Nanshan district, set to be inaugurated in 2028, is not another of the mammoth projects that were common during the heyday of China’s infrastructure buildout. But the futuristic integrated transport hub will help make trips to other cities in the Greater... https://www.scmp.com/economy/china-economy/article/3356107/smaller-smart-shenzhen-railway-station-redraw-chinas-infrastructure-blueprint?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3356107/smaller-smart-shenzhen-railway-station-redraw-chinas-infrastructure-blueprint?utm_source=rss_feed Fri, 05 Jun 2026 11:00:10 +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 Xinyi Wu Xinyi Wu A growing number of Chinese provinces are proposing to increase profit remittance rates from state-owned enterprises to secure alternative funding sources, as local revenues fell short of public expenditure during the first three months of the year. Following a similar move by the central government, provinces including Guangdong, Jiangxi, Jiangsu and Hainan have announced plans to raise collection rates on state capital returns in their regional five-year plans for the 2026 to 2030... https://www.scmp.com/economy/china-economy/article/3356047/chinas-provinces-turn-soe-profits-after-worst-first-quarter-fiscal-stress-2020?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3356047/chinas-provinces-turn-soe-profits-after-worst-first-quarter-fiscal-stress-2020?utm_source=rss_feed Fri, 05 Jun 2026 06:00:11 +0000 Emma Ma Emma Ma China has reported a second consecutive decline in the number of students sitting the country’s national university-entrance exams, as a graduate jobs crunch leads many teenagers to decide against pursuing an academic degree. A total of 12.9 million students have registered for this year’s National Higher Education Entrance Examination – known as the gaokao in China – down 450,000 from a year ago, according to data from the Ministry of Education released on Wednesday. In 2025, the number of... https://www.scmp.com/economy/china-economy/article/3355965/chinas-gaokao-exam-gets-less-competitive-more-teens-opt-skip-university?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3355965/chinas-gaokao-exam-gets-less-competitive-more-teens-opt-skip-university?utm_source=rss_feed Fri, 05 Jun 2026 03:00:12 +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 Carol Yang Carol Yang China’s state asset regulator has ordered its central state-owned enterprises (SOEs) to double their basic research spending by 2030, seeking to incentivise some of the country’s largest companies into becoming long-term investors as Beijing works to build up sovereign technologies. At a recent meeting, the State-owned Assets Supervision and Administration Commission (SASAC) also urged centrally administered SOEs to become “globally influential sources” of original technologies across 10... https://www.scmp.com/economy/china-economy/article/3355966/china-orders-central-state-owned-enterprises-double-spending-basic-research?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3355966/china-orders-central-state-owned-enterprises-double-spending-basic-research?utm_source=rss_feed Thu, 04 Jun 2026 13:00:06 +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’s booming micro-drama sector is facing intensifying regulatory scrutiny, as Beijing launches a two-month campaign to crack down on “harmful, lowbrow and pirated” content in the industry. The National Radio and Television Administration (NRTA) said the clampdown would target eight types of content, including material harmful to children, sexually suggestive scenes, wealth-flaunting, “distorted” views on marriage and relationships, superstitions, violent revenge, sensationalist titles and... https://www.scmp.com/economy/china-economy/article/3355961/china-takes-aim-micro-dramas-promoting-wealth-flaunting-distorted-views?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3355961/china-takes-aim-micro-dramas-promoting-wealth-flaunting-distorted-views?utm_source=rss_feed Thu, 04 Jun 2026 10:30:07 +0000 Neil Denslow,Raymond Ma Neil Denslow,Raymond Ma The EU and China were due to hold talks to defuse escalating trade tensions after Europe voted last week to adopt a tough new approach. EU trade chief Maros Sefcovic was set to meet China’s top trade envoy, Li Chenggang, on the sidelines of an Organisation for Economic Co-operation and Development (OECD) meeting on Thursday, the South China Morning Post reported. Talks will focus on establishing a new platform to discuss trade and investment issues and will pave the way for Chinese Commerce... https://www.scmp.com/plus/news/china/diplomacy/article/3355952/eu-china-hold-talks-trade-war-looms?utm_source=rss_feed https://www.scmp.com/plus/news/china/diplomacy/article/3355952/eu-china-hold-talks-trade-war-looms?utm_source=rss_feed Thu, 04 Jun 2026 09:01:01 +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 Sylvia Ma Sylvia Ma Europe’s leading business lobby in China has called for a unified “one Shanghai” policy, urging authorities to offer economic support across all of the financial centre rather than isolating benefits in remote districts as a means of reducing operational hurdles. “We do believe that Shanghai should have a ‘one Shanghai’ policy,” said Carlo Diego D’Andrea, vice-president of the European Chamber of Commerce in China and chairman of its Shanghai board, on Wednesday. D’Andrea said incentives should... https://www.scmp.com/economy/china-economy/article/3355923/shanghai-urged-unify-incentives-eu-firms-china-flag-mounting-business-hurdles?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3355923/shanghai-urged-unify-incentives-eu-firms-china-flag-mounting-business-hurdles?utm_source=rss_feed Thu, 04 Jun 2026 08:00:09 +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 Emma Ma Emma Ma As Beijing steps up its regulatory oversight on capital outflows, residents of mainland China are encountering greater constraints on opening offshore accounts – including outright prohibition – at mainland branches of major Hong Kong banks. As of Monday, the Shanghai branch of the Bank of East Asia (BEA) had suspended opening Hong Kong accounts that allowed overseas investments for those on the mainland, according to an account manager at a BEA outlet in Shanghai’s Lujiazui financial district,... https://www.scmp.com/economy/china-economy/article/3355763/hong-kong-banks-tighten-rules-mainland-china-beijing-pores-over-capital-outflows?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3355763/hong-kong-banks-tighten-rules-mainland-china-beijing-pores-over-capital-outflows?utm_source=rss_feed Wed, 03 Jun 2026 14:00:06 +0000 Mia Nurmamat Mia Nurmamat China has published a blueprint for overhauling its vast agricultural sector over the next five years by harnessing an array of frontier technologies, as Beijing focuses on shoring up the nation’s food security in an era of rising geopolitical and climate volatility. In its plan for the 2026-2030 period, the State Council said it would significantly strengthen research and development in the agricultural sector, setting a target of raising the contribution of technological advances to farm... https://www.scmp.com/economy/china-economy/article/3355837/china-backs-ai-gene-editing-bolster-its-food-security-risky-new-era?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3355837/china-backs-ai-gene-editing-bolster-its-food-security-risky-new-era?utm_source=rss_feed Wed, 03 Jun 2026 13:30:06 +0000 Emma Ma Emma Ma China is preparing to launch compute futures in Shanghai, signalling a push to link financial markets to computing power as the global AI boom drives new demand for digital infrastructure. The Shanghai municipal government has released guidelines stating the new financial derivative would form part of efforts to turn the city into a global wealth management hub. It is the first time Shanghai’s authorities have explicitly mentioned compute futures in an official document. “In light of the central... https://www.scmp.com/economy/china-economy/article/3355851/china-plans-compute-futures-shanghai-ai-computing-demand-surges?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3355851/china-plans-compute-futures-shanghai-ai-computing-demand-surges?utm_source=rss_feed Wed, 03 Jun 2026 13:00:08 +0000 Finbarr Bermingham Finbarr Bermingham EU trade chief Maros Sefcovic will meet China’s international trade envoy, Li Chenggang, in Paris on Thursday, as the sides look to defuse tensions that have pushed them to the brink of a trade war. The officials will meet on the sidelines of an Organisation for Economic Co-operation and Development (OECD) ministerial meeting, setting the stage for a month of intensified engagement ahead of Commerce Minister Wang Wentao’s visit to Brussels on June 28 and 29, according to people familiar with the... https://www.scmp.com/news/article/3355859/eu-and-china-set-paris-talks-week-amid-mounting-trade-war-fears?utm_source=rss_feed https://www.scmp.com/news/article/3355859/eu-and-china-set-paris-talks-week-amid-mounting-trade-war-fears?utm_source=rss_feed Wed, 03 Jun 2026 12:20:43 +0000 Brian Rhoads,Raymond Ma Brian Rhoads,Raymond Ma US President Donald Trump signed an executive order on artificial intelligence (AI) oversight after watering down measures due to concerns about hindering competition with China. AI providers are asked to give the government 30 days to vet new models before their release, down from 90 days in an earlier order that Trump ditched at the last minute two weeks ago. The revised order, signed without fanfare on Tuesday, also creates an “AI cybersecurity clearing house” for companies and the government... https://www.scmp.com/plus/tech/policy/article/3355820/trump-signs-looser-ai-order-amid-china-competition-concerns?utm_source=rss_feed https://www.scmp.com/plus/tech/policy/article/3355820/trump-signs-looser-ai-order-amid-china-competition-concerns?utm_source=rss_feed Wed, 03 Jun 2026 09:04:42 +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 Josephine Ma Josephine Ma James Heckman is the Henry Schultz distinguished service professor of economics and public policy and director of the Centre for the Economics of Human Development at the University of Chicago. Heckman has devoted his professional life to understanding the origins of major social and economic questions related to inequality, social mobility, discrimination and the formation of skills and regulation in labour markets. He has also done extensive research in China’s labour market and early... https://www.scmp.com/plus/economy/china-economy/article/3355674/nobel-economist-chinas-chance-upskill-youth-and-instil-creativity?utm_source=rss_feed https://www.scmp.com/plus/economy/china-economy/article/3355674/nobel-economist-chinas-chance-upskill-youth-and-instil-creativity?utm_source=rss_feed Tue, 02 Jun 2026 23:15:07 +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 Brian Rhoads,Raymond Ma Brian Rhoads,Raymond Ma China issued new rules that tighten scrutiny of cross-border investments and bolster countermeasures amid an intensifying technological rivalry with the United States. The changes, which take effect on July 1, will prevent investors transferring restricted goods, technologies, services and data overseas without prior authorisation. The 34-article regulations, published on Monday, also limit indirect transfers such as the overseas deployment of technical staff and consultants or the provision of... https://www.scmp.com/plus/tech/policy/article/3355695/china-boosts-trade-war-toolkit-cross-border-investment-overhaul?utm_source=rss_feed https://www.scmp.com/plus/tech/policy/article/3355695/china-boosts-trade-war-toolkit-cross-border-investment-overhaul?utm_source=rss_feed Tue, 02 Jun 2026 09:04:09 +0000 Carol Yang Carol Yang As drones become a common sight in China’s skies, authorities are shifting from one-size-fits-all regulation to a more nuanced approach as they seek to balance management of a rapidly growing fleet with the sector’s billion-dollar market ambitions. The country is promoting a new drone-clearance model in designated areas in Shanghai and in the southwestern province of Sichuan, a few months after abruptly banning all drones in Beijing, the national capital. A new WeChat mini-program – dubbed... https://www.scmp.com/economy/china-economy/article/3355682/how-mini-program-helping-china-fine-tune-drone-regulation?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3355682/how-mini-program-helping-china-fine-tune-drone-regulation?utm_source=rss_feed Tue, 02 Jun 2026 08:26:59 +0000 SCMP Plus SCMP Plus This report was translated from Chinese into English using Alibaba’s Qwen3, then checked and tweaked for accuracy by a South China Morning Post journalist. It is for reference only, and is not the official English version of the original Chinese document. Alibaba owns the SCMP. https://www.scmp.com/plus/tech/policy/article/3355670/chinas-new-outbound-investment-rules?utm_source=rss_feed https://www.scmp.com/plus/tech/policy/article/3355670/chinas-new-outbound-investment-rules?utm_source=rss_feed Tue, 02 Jun 2026 07:13:27 +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 Xiaofei Xu Xiaofei Xu Chinese firms receive three to eight times more government subsidies than their global competitors, fuelling nearly 60 per cent of their gains in overseas market share in recent years, according to a global intergovernmental report. The findings are likely to keep Chinese companies on the radar of Western regulators as high-profile trade tensions persist, despite strong disagreement from China’s business community. The report, published on Monday by the Organisation for Economic Co-operation and... https://www.scmp.com/economy/china-economy/article/3355630/chinese-firms-overseas-expansion-fuelled-huge-government-subsidies-oecd-report?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3355630/chinese-firms-overseas-expansion-fuelled-huge-government-subsidies-oecd-report?utm_source=rss_feed Tue, 02 Jun 2026 04:11:32 +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 Sylvia Ma Sylvia Ma China’s contribution to global growth is underestimated while the yuan is positioned to emerge as a fundamentally strong global currency, according to a new study from a prominent Beijing-based think tank. Researchers from the China Finance 40 Forum (CF40) – comprising senior regulators and financial experts – said the country’s investment scale could be as much as 3.4 times that of the United States when measured by the volume of physical investment. The analysis, published in a note on Sunday,... https://www.scmp.com/economy/china-economy/article/3355562/chinas-investment-driven-role-global-growth-underestimated-study-says?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3355562/chinas-investment-driven-role-global-growth-underestimated-study-says?utm_source=rss_feed Mon, 01 Jun 2026 12:00:15 +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 Mia Nurmamat,Ji Siqi Mia Nurmamat,Ji Siqi China will increase scrutiny of outbound technology investments and authorise countermeasures against foreign entities deemed harmful to its national interests, in a move that follows the high-profile Nexperia dispute and Meta Platforms’ aborted acquisition of Manus. The State Council, China’s cabinet, released a new set of regulations governing outbound investment from the Chinese mainland – including to Hong Kong, Macau and Taiwan – requiring approval for the overseas transfer or use of goods,... https://www.scmp.com/economy/china-economy/article/3355560/china-tightens-outbound-tech-investment-rules-following-nexperia-and-manus-disputes?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3355560/china-tightens-outbound-tech-investment-rules-following-nexperia-and-manus-disputes?utm_source=rss_feed Mon, 01 Jun 2026 09:17:08 +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 Emma Ma Emma Ma After a five-year property slump, an increasing number of tenants in China’s biggest cities are opting to buy small flats with their years of savings, betting on a turnaround in the country’s home market that has yet to arrive. However, the recent buying spree – centred on low-priced pre-owned homes – did not give banks’ mortgage loan businesses an effective boost because buyers raised their down payments to avoid interest costs. “More tenants are feeling that paying a few thousand yuan a month... https://www.scmp.com/economy/china-economy/article/3355253/mortgage-payments-cheaper-rents-small-flats-become-hot-property-china?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3355253/mortgage-payments-cheaper-rents-small-flats-become-hot-property-china?utm_source=rss_feed Mon, 01 Jun 2026 01:00:10 +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 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 Mia Nurmamat Mia Nurmamat China has pledged to improve the accuracy, reliability and transparency of AI through a new national evaluation framework, as policymakers move to establish common standards for assessing the fast-evolving technology. New guidelines released by the central government said Beijing would create a common yardstick for AI, allowing models, computing power and data quality to be measured and compared under a unified national standard. The move comes as artificial intelligence plays an increasingly... https://www.scmp.com/economy/china-economy/article/3355324/china-launches-ai-framework-improve-black-box-transparency-and-raise-standards?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3355324/china-launches-ai-framework-improve-black-box-transparency-and-raise-standards?utm_source=rss_feed Sat, 30 May 2026 10:00:12 +0000 Ralph Jennings Ralph Jennings Two cities in southeastern China’s Fujian province, Fuzhou and Xiamen, have decided to introduce three-day spring and autumn school holidays, with Xiamen’s spring break extending the Ching Ming Festival, also known as Tomb-Sweeping Day. They have joined dozens of other Chinese localities offering additional school breaks in an effort to stimulate consumer spending – a persistent weak spot in the world’s second-largest economy. The moves by Fuzhou and Xiamen, announced this month, coincide with... https://www.scmp.com/economy/china-economy/article/3355251/china-boosts-consumption-longer-realigned-holidays-growing-crowds-daunt-tourists?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3355251/china-boosts-consumption-longer-realigned-holidays-growing-crowds-daunt-tourists?utm_source=rss_feed Sat, 30 May 2026 08:00:06 +0000