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China’s private sector

China’s private sector
The latest news, analysis and opinion on China’s private sector. In-depth analysis, industry insights and expert opinion.
BeOne’s manufacturing facility in Guangzhou. Photo: Handout
Biomedicine: Companies

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

BeOne generated global revenue of about US$3.8 billion last year, driven by its flagship products Brukinsa and Tevimbra.

China innovators

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

China's space programme

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

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Tencent

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

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

Tencent’s failed bid underscores how US regulatory oversight is narrowing the space for Chinese investment in US media and technology deals. Photo: Shutterstock
China's economic recovery

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

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

Artificial intelligence

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

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

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Hong Kong

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

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

(L-R) Deloitte’s Edward Au, Patrick Tsang and Robert Lui. Photo: Handout
United States

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

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

China's economic recovery

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

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

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Hong Kong

Kelly Zong steps down as Wahaha chief amid bitter inheritance feud

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

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

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

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

Lior Dayan says Chinese consumers can afford luxury services. Photo: Handout
Open Questions series

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

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

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Shenzhen

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

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

China's economic recovery

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

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

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

China’s new private sector liberalisation spreads to infrastructure

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

Photo: Xinhua
China economy

Explaining China’s 13 measures to promote private investment

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

China economy

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

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

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Artificial intelligence

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

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

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Two Sigma co-founder David Siegel at the Rosewood Hotel in Hong Kong on November 6. Photo: Jonathan Wong
Mainland China

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

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

Middle East

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

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

China’s fourth plenum

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

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

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

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

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

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A Chinese academic urges Beijing to better integrate civil technological innovations into military capabilities in the way the US model flattens the decision-making chain and engages multidimensional expertise. Photo: Florida Today via AP
Artificial intelligence

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

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

Electric & new energy vehicles

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

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

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Li Qiang

Chinese premier stresses resilience in symposium with business leaders

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

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

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

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

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Illustration: Brian Wang
China economy

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

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

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China's economic recovery

China has policy window for more private sector support, official says

Even after passage of Private Economy Promotion Law, economic planner says ‘gaps remain’ in shoring up enterprise and investor confidence.

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