https://www.scmp.com/rss/318421/feed China economy news, including budget, the stock market and analysis. en https://assets-v2.i-scmp.com/production/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Daniel Ren Daniel Ren Citigroup CEO Jane Fraser has struck a confident and optimistic note that the US lender would become a leading investment bank in mainland China after it received approval to set up a wholly-owned securities firm in one of the world’s largest capital markets. Beijing’s supportive stance on foreign financial service firms as well as China’s strength in manufacturing and artificial intelligence would also offer opportunities for Citi as it pursued fresh growth engines, Fraser said at the Citi... https://www.scmp.com/business/banking-finance/article/3373914/citigroup-ceo-jane-fraser-strikes-bullish-tone-china-expansion-after-brokerage-approval https://www.scmp.com/business/banking-finance/article/3373914/citigroup-ceo-jane-fraser-strikes-bullish-tone-china-expansion-after-brokerage-approval Tue, 10 Nov 2026 10:00:07 +0000 Brian Rhoads,Raymond Ma Brian Rhoads,Raymond Ma China’s annual trade surplus surpassed US$1 trillion for the second time ever as an artificial intelligence (AI)-led export boom offset an unexpected surge in October imports. Exports jumped 35.2 per cent last month, while imports leapt 41 per cent, the biggest year-on-year increase since 2021, based on customs data released on Tuesday. The monthly trade surplus was US$105.3 billion, the lowest since May. October chip exports more than doubled amid global construction of AI data centres, while... https://www.scmp.com/plus/economy/china-economy/article/3373936/chinas-trade-surplus-tops-us1-trillion-ahead-xi-trump-talks https://www.scmp.com/plus/economy/china-economy/article/3373936/chinas-trade-surplus-tops-us1-trillion-ahead-xi-trump-talks Tue, 10 Nov 2026 09:02:53 +0000 Xiaofei Xu Xiaofei Xu As Beijing announced a two-month extension to its rare earth export control pause, European industry insiders welcomed a positive change of mindset in the bloc’s efforts to reduce its dependency on imports of rare earths and other raw materials but cautioned that problems remained, especially in financing and regulations, while analysts warned the EU was running out of time. On Monday, the Ministry of Commerce in Beijing extended a pause on export controls covering several rare earths and... https://www.scmp.com/economy/china-economy/article/3373924/china-extends-rare-earth-controls-pause-pricing-and-financing-hold-back-eu-supply-push https://www.scmp.com/economy/china-economy/article/3373924/china-extends-rare-earth-controls-pause-pricing-and-financing-hold-back-eu-supply-push Tue, 10 Nov 2026 08:30:12 +0000 Djoomart Otorbaev Djoomart Otorbaev Africa is seeing a potentially historic transformation in its economic relationship with China. After two decades in which Chinese engagement was primarily associated with infrastructure construction, resource extraction and commodity trade, a new phase is emerging. Chinese companies are increasingly establishing manufacturing operations on the continent, bringing capital, technology, production expertise and employment. East Africa, particularly Kenya and Tanzania, is becoming a principal... https://www.scmp.com/opinion/world-opinion/article/3373610/chinese-investment-african-manufacturing-could-change-world https://www.scmp.com/opinion/world-opinion/article/3373610/chinese-investment-african-manufacturing-could-change-world Tue, 10 Nov 2026 08:30:09 +0000 Mia Nurmamat Mia Nurmamat China’s trade momentum remained strong in October despite a strengthening of the yuan, sending its year-to-date trade surplus above US$1 trillion amid rising scrutiny from Western countries over the size of the gap. Supported by the continuing technology cycle and a rebound in demand as US-China relations improved, the country’s exports rose by 35.2 per cent year on year to US$412.33 billion last month, according to Chinese customs data released on Tuesday, compared with the 36.3 per cent growth... https://www.scmp.com/economy/economic-indicators/article/3373871/chinas-imports-outpace-exports-october-beijing-seeks-address-imbalance https://www.scmp.com/economy/economic-indicators/article/3373871/chinas-imports-outpace-exports-october-beijing-seeks-address-imbalance Tue, 10 Nov 2026 02:43:24 +0000 Mia Nurmamat Mia Nurmamat China has unveiled a road map to strengthen its maritime insurance industry and expand the use of the yuan in shipping-related transactions, as Beijing seeks to reduce its reliance on Western-dominated insurance networks amid growing geopolitical tensions. The guidelines, jointly issued by seven government agencies on Friday, aim to strengthen domestic underwriting and risk-pricing capabilities while expanding insurance protection for China’s key imports and exports. The push comes as Western... https://www.scmp.com/economy/china-economy/article/3373765/china-sets-plans-yuan-use-shipping-risk-pricing-curbing-reliance-west https://www.scmp.com/economy/china-economy/article/3373765/china-sets-plans-yuan-use-shipping-risk-pricing-curbing-reliance-west Mon, 09 Nov 2026 11:00:14 +0000 Brian Rhoads,Raymond Ma Brian Rhoads,Raymond Ma China’s factory-gate prices rose at the fastest pace in more than four years in October on higher energy costs, even as consumer inflation cooled. The producer price index rose to 5.7 per cent from 5 per cent in September, the statistics bureau said on Monday. That surpassed the 5.4 per cent expectation among economists polled by Chinese financial data provider Wind. Consumer inflation eased to 0.7 per cent from 0.9 per cent, missing the 0.8 per cent forecast. The eighth straight monthly... https://www.scmp.com/plus/economy/economic-indicators/article/3373806/chinas-producer-prices-accelerate-even-amid-weak-consumer-inflation https://www.scmp.com/plus/economy/economic-indicators/article/3373806/chinas-producer-prices-accelerate-even-amid-weak-consumer-inflation Mon, 09 Nov 2026 09:29:02 +0000 Emma Ma Emma Ma Even as China’s stricter enforcement lifts tax receipts, the revenue gains remain insufficient to cover government funding gaps and risk chilling private sector confidence, while local officials remain reluctant to launch major projects despite repeated calls from Beijing, analysts say. Hong Kong-based Goldman Sachs analysts, led by Wang Lisheng, estimated in a Monday report that tighter tax enforcement may have added roughly 500 billion yuan (US$74.91 billion) to mainland China’s government... https://www.scmp.com/economy/china-economy/article/3373768/chinas-tax-compliance-drive-falls-short-covering-fiscal-gaps-weighs-sentiment-report https://www.scmp.com/economy/china-economy/article/3373768/chinas-tax-compliance-drive-falls-short-covering-fiscal-gaps-weighs-sentiment-report Mon, 09 Nov 2026 07:05:23 +0000 Alice Li Alice Li China’s factory-gate price growth continued to accelerate last month amid the ongoing US-Iran conflict that is fuelling uncertainties in the global energy market, while consumer inflation remained subdued. The producer price index (PPI) rose 5.7 per cent year on year in October, according to data released by the National Bureau of Statistics on Monday. It marked another record high since mid-2022, following a 5 per cent rise in September. The reading beat a projection of 5.37 per cent from... https://www.scmp.com/economy/economic-indicators/article/3373727/chinas-factory-gate-prices-continue-rise-ppi-most-2022-amid-iran-war https://www.scmp.com/economy/economic-indicators/article/3373727/chinas-factory-gate-prices-continue-rise-ppi-most-2022-amid-iran-war Mon, 09 Nov 2026 02:05:49 +0000 Wency Chen Wency Chen Dong Mingzhu chairs Gree Electric Appliances, a home-appliance giant based in southern China’s Guangdong province. Having worked her way up from a frontline sales job, she is one of China’s best-known figures in manufacturing. As a deputy to the National People’s Congress, she has long advocated for manufacturing innovation, higher incomes and greener consumption. In this interview, conducted when she was named an inaugural “Cool Leader” at an assembly of the UN Environment Programme’s Cool... https://www.scmp.com/tech/article/3373325/how-dong-mingzhu-chinas-manufacturing-iron-lady-maintaining-her-cool-ai-era https://www.scmp.com/tech/article/3373325/how-dong-mingzhu-chinas-manufacturing-iron-lady-maintaining-her-cool-ai-era Sun, 08 Nov 2026 22:00:12 +0000 Frank Chen Frank Chen China has been urged to stop keeping beverage makers sweet and instead declare war on sugar-rich drinks through taxation, as the country moves to align its regulatory framework with global health promotion trends. A sugar tax has been proposed by experts and state media outlets, who argue that an ongoing overhaul of consumption taxes provides an ideal opportunity to wean consumers off the sweetener, which has been linked to increased risks of obesity and type 2 diabetes. People’s Daily, the... https://www.scmp.com/economy/china-economy/article/3373583/china-urged-target-sugar-rich-drinks-during-consumption-tax-overhaul https://www.scmp.com/economy/china-economy/article/3373583/china-urged-target-sugar-rich-drinks-during-consumption-tax-overhaul Sun, 08 Nov 2026 07:00:25 +0000 Mandy Zuo Mandy Zuo In the flat, typhoon-prone fields of Lianshui county in eastern China’s Jiangsu province, a once-obscure vegetable has become a local economic engine. Greenhouses for growing asparagus now cover more than 1,333 hectares (3,294 acres), produce 50,000 tonnes (55,116 short tons) a year and generate over 1 billion yuan (US$150 million) in value, according to local government data. Lianshui accounts for about 30 per cent of China’s greenhouse-grown asparagus output, and much of the high-value white... https://www.scmp.com/economy/china-economy/article/3373576/robots-arrival-set-give-chinese-asparagus-farmers-boost https://www.scmp.com/economy/china-economy/article/3373576/robots-arrival-set-give-chinese-asparagus-farmers-boost Sun, 08 Nov 2026 03:00:38 +0000 Bob Savic Bob Savic China has framed its relationship with Switzerland as a model of practical, mutually beneficial cooperation at a time when its broader ties with the European Union remain more complicated and politically charged. Just before Swiss President Guy Parmelin’s recent visit to Beijing, a Chinese foreign ministry spokesman noted that 2026 marks the 10th anniversary of the China-Switzerland innovative strategic partnership, with adherence to free trade singled out as its principal... https://www.scmp.com/opinion/china-opinion/article/3373312/china-switzerland-trade-partnership-offers-model-amid-fraught-eu-ties https://www.scmp.com/opinion/china-opinion/article/3373312/china-switzerland-trade-partnership-offers-model-amid-fraught-eu-ties Sat, 07 Nov 2026 12:30:05 +0000 He Huifeng He Huifeng The number of European and American buyers attending China’s largest trade fair rose sharply this autumn, though exporters on the floor said economic headwinds in the West continued to act as a drag on deal making. Attendees from the European Union and United States at the latest edition of the Canton Fair, which concluded on Wednesday, were up by 38.2 per cent and 22.2 per cent, respectively, compared with the previous event in April, according to the event organisers. The increases far... https://www.scmp.com/economy/china-economy/article/3373554/us-buyers-chinas-largest-trade-fair-soar-over-20-after-xi-trump-meeting https://www.scmp.com/economy/china-economy/article/3373554/us-buyers-chinas-largest-trade-fair-soar-over-20-after-xi-trump-meeting Sat, 07 Nov 2026 10:00:06 +0000 Daniel Ren Daniel Ren International brands have become unlikely beneficiaries of Beijing’s clampdown on so-called rapidly developed vehicles as they step up efforts to convince Chinese consumers of their cars’ quality and reliability. About 10 foreign carmakers from Tesla to General Motors (GM) were not only displaying their latest electric vehicle (EV) technologies at the China International Import Expo (CIIE), but also using the event to highlight their strengths as they continued to lose market share to Chinese... https://www.scmp.com/business/china-business/article/3373588/chinas-ev-safety-push-gives-foreign-brands-tesla-gm-opening-comeback https://www.scmp.com/business/china-business/article/3373588/chinas-ev-safety-push-gives-foreign-brands-tesla-gm-opening-comeback Sat, 07 Nov 2026 08:00:11 +0000 Ralph Jennings Ralph Jennings Chinese arrivals in Thailand, normally a popular tourist destination, declined in October partly because of a fresh embassy warning against dangers such as getting snared by the country’s ever-active fraud rings. The Southeast Asian country logged 308,942 arrivals from China last month, 13.6 per cent lower than the same month last year, the Tourism Authority of Thailand told the South China Morning Post in a statement. National Day on October 1 marks the start of a seven-day public holiday in... https://www.scmp.com/economy/china-economy/article/3373566/chinese-tourist-arrivals-thailand-fall-136-october-after-embassy-safety-warning https://www.scmp.com/economy/china-economy/article/3373566/chinese-tourist-arrivals-thailand-fall-136-october-after-embassy-safety-warning Sat, 07 Nov 2026 06:00:23 +0000 Emma Ma Emma Ma Amid a bear market in China’s stock exchanges, Ren Zeping, the high-profile independent economist famed for his prescient call on China’s A-share bull market, is once again in the spotlight for a “gag order” on his social media, though industry insiders say that the move by the platform was not unexpected. Since October 24, Ren Zeping’s WeChat official account “Zeping Macro” could no longer be retrieved via search and would not accept new subscribers. The same restriction applied to his WeChat... https://www.scmp.com/economy/china-economy/article/3373565/former-evergrande-economist-faces-wechat-gag-order-after-buy-dip-call https://www.scmp.com/economy/china-economy/article/3373565/former-evergrande-economist-faces-wechat-gag-order-after-buy-dip-call Sat, 07 Nov 2026 03:00:10 +0000 Xiaofei Xu Xiaofei Xu China’s State Council has pledged improved policy mechanisms to stabilise the country’s struggling stock market, after stocks slid again on Friday following a meltdown on the US markets. “We will enhance the inherent stability of the stock market and foster the steady and healthy development of the capital market,” officials at the State Council executive meeting, chaired by Chinese Premier Li Qiang, were quoted as saying on Friday. The comments came as the CSI 300 Index, which tracks major... https://www.scmp.com/business/markets/article/3373602/beijing-calls-more-efforts-stabilise-stock-market-after-renewed-sell https://www.scmp.com/business/markets/article/3373602/beijing-calls-more-efforts-stabilise-stock-market-after-renewed-sell Fri, 06 Nov 2026 14:00:21 +0000 Sylvia Ma Sylvia Ma As the midterm “blue wave” threatens to further complicate US-China relations, American agricultural exporters are calling on Washington to focus on delivering the trade deals already agreed with Beijing and ending a period of damaging policy uncertainty. With shipments of key products such as soybeans needing to be planned months – or sometimes an entire year – ahead, US farmers are in need of stability after last year’s trade war. “Agriculture is ... an industry with long production cycles, so... https://www.scmp.com/economy/china-economy/article/3373595/after-midterms-upheaval-us-ag-exporters-call-stability-china-trade https://www.scmp.com/economy/china-economy/article/3373595/after-midterms-upheaval-us-ag-exporters-call-stability-china-trade Fri, 06 Nov 2026 14:00:11 +0000 Alice Li Alice Li Ahead of a new round of bilateral trade talks, the US has extended the suspension of an expanded trade blacklist that helped inflame tensions with China last year and could subject overseas subsidiaries of Chinese companies to greater scrutiny. The US Bureau of Industry and Security (BIS) issued a final rule on Thursday extending the suspension of its 50 per cent affiliate rule until January 10, when the current US-China trade truce is also set to expire. If implemented, the measure would extend... https://www.scmp.com/economy/policy/article/3373520/ahead-shenzhen-trade-talks-us-holds-blacklist-rule-angered-beijing https://www.scmp.com/economy/policy/article/3373520/ahead-shenzhen-trade-talks-us-holds-blacklist-rule-angered-beijing Fri, 06 Nov 2026 13:00:10 +0000 Emma Ma Emma Ma China’s construction expertise has gained fresh international recognition, with Shenzhen named among the top cities to watch for high-rise development in 2027 by a UK industry publication. A skyscraper originally planned as the headquarters of failed property giant China Evergrande Group was among the projects highlighted. London Construction Magazine included Shenzhen in its “Global Tall Building Construction 2027: Ten Cities to Watch” list on Thursday, citing the city’s experience building... https://www.scmp.com/economy/china-economy/article/3373549/chinas-skyscraper-expertise-earns-shenzhen-place-global-watch-list https://www.scmp.com/economy/china-economy/article/3373549/chinas-skyscraper-expertise-earns-shenzhen-place-global-watch-list Fri, 06 Nov 2026 10:00:13 +0000 Raymond Ma,Neil Denslow Raymond Ma,Neil Denslow China’s stocks pared weekly gains and the benchmark 10-year bond hit a record low as the global artificial intelligence (AI) stock bubble burst following the US Democrats’ landslide win in midterm elections. The CSI 300 equity index fell 1.4 per cent, weighed down by AI-related shares. Hong Kong’s Hang Seng Index dropped 1.3 per cent. The yield on China’s 10-year sovereign bond touched an intraday low of 1.58 per cent, according to Bloomberg, spurred by investor demand for safe-haven assets and... https://www.scmp.com/plus/business/markets/article/3373548/ai-bubble-bursts-fifth-plenum-resolution-singles-day https://www.scmp.com/plus/business/markets/article/3373548/ai-bubble-bursts-fifth-plenum-resolution-singles-day Fri, 06 Nov 2026 09:05:28 +0000 Alice Li,He Huifeng Alice Li,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. A presidential election in Brazil, a country thousands of miles away, might seem like just another headline to many in China. But for Chinese companies doing business... https://www.scmp.com/economy/global-economy/article/3373387/lulas-upset-win-also-victory-chinese-firms-brazil https://www.scmp.com/economy/global-economy/article/3373387/lulas-upset-win-also-victory-chinese-firms-brazil Thu, 05 Nov 2026 22:00:07 +0000 Alice Li,Ralph Jennings Alice Li,Ralph Jennings As US Treasury Secretary Scott Bessent prepares to sit down with Vice-Premier He Lifeng, his Chinese counterpart, in Shenzhen later this month for trade talks ahead of the Apec summit, he will do so with weakened party support at his back following the landslide victory of the Democrats in this week’s midterm elections. Analysts said that raised questions about Washington’s ability to deliver on any commitments reached in talks with Beijing, while potentially giving China greater leverage in the... https://www.scmp.com/economy/china-economy/article/3373413/what-does-trumps-midterm-humbling-mean-bessent-ahead-talks-he-lifeng https://www.scmp.com/economy/china-economy/article/3373413/what-does-trumps-midterm-humbling-mean-bessent-ahead-talks-he-lifeng Thu, 05 Nov 2026 14:30:07 +0000 Ji Siqi Ji Siqi Beijing says it remains open to buying more agricultural products from the United States, but wants reciprocal tariff cuts covering US$30 billion worth of products on each side to be implemented first under the US-China Board of Trade. “China has always maintained an open attitude towards expanding agricultural imports from the United States, provided that the agreed-upon reciprocal tariff reduction arrangement – covering $30 billion on each side – is implemented,” Huang Ling, a spokeswoman for... https://www.scmp.com/economy/global-economy/article/3373412/china-ready-expand-us-agricultural-imports-if-board-trade-tariff-cuts-take-effect https://www.scmp.com/economy/global-economy/article/3373412/china-ready-expand-us-agricultural-imports-if-board-trade-tariff-cuts-take-effect Thu, 05 Nov 2026 12:00:21 +0000 Brian Rhoads,Raymond Ma Brian Rhoads,Raymond Ma Oil is headed for its biggest weekly decline since the Covid-19 pandemic after a Democratic blue wave in US midterm elections eased concerns about President Donald Trump escalating conflict in the Middle East. The price of Brent crude, the global benchmark, has tumbled by about 20 per cent this week to trade at around US$95 barrel on Thursday. US West Texas Intermediate has dropped by 16 per cent to about US$88. Prices plunged after US Vice-President J.D. Vance called for an end to the war in... https://www.scmp.com/plus/economy/china-economy/article/3373389/oil-prices-slump-trump-election-rout-eases-middle-east-conflict-risks https://www.scmp.com/plus/economy/china-economy/article/3373389/oil-prices-slump-trump-election-rout-eases-middle-east-conflict-risks Thu, 05 Nov 2026 09:12:27 +0000 Mandy Zuo Mandy Zuo China has witnessed a nearly 10 per cent drop in the number of marriages in the first three quarters of the year, signalling a possible full-year fall in 2026 after a rebound in 2025. The country recorded 4.648 million marriage registrations in the first nine months, down 504,000 from a year earlier, data released on Wednesday by the Ministry of Civil Affairs showed. The latest figures mean that 2026 marriage registrations would most likely see a year-on-year drop as well, said He Yafu, an... https://www.scmp.com/economy/economic-indicators/article/3373383/china-sees-nearly-10-decline-marriages-2026-so-far-foreshadowing-lower-birth-rate https://www.scmp.com/economy/economic-indicators/article/3373383/china-sees-nearly-10-decline-marriages-2026-so-far-foreshadowing-lower-birth-rate Thu, 05 Nov 2026 09:00:24 +0000 SCMP Plus SCMP Plus This article contains excerpts from the official English translation of the original Chinese document released by Xinhua. https://www.scmp.com/plus/news/china/politics/article/3373366/chinas-fifth-plenum-resolution https://www.scmp.com/plus/news/china/politics/article/3373366/chinas-fifth-plenum-resolution Thu, 05 Nov 2026 07:29:33 +0000 Wency Chen Wency Chen Dong Mingzhu chairs Gree Electric Appliances, a home-appliance giant based in southern China’s Guangdong province. Having worked her way up from a frontline sales job, she is one of China’s best-known figures in manufacturing. As a deputy to the National People’s Congress, she has long advocated for manufacturing innovation, higher incomes and greener consumption. In this interview, conducted when she was named an inaugural “Cool Leader” at an assembly of the UN Environment Programme’s Cool... https://www.scmp.com/plus/tech/big-tech/article/3373365/chinas-appliance-queen-her-firms-quest-greener-cooling-and-going-global https://www.scmp.com/plus/tech/big-tech/article/3373365/chinas-appliance-queen-her-firms-quest-greener-cooling-and-going-global Thu, 05 Nov 2026 07:23:30 +0000 Sherry Wang Sherry Wang Russian President Vladimir Putin has signed into law a deal to build a second standard-gauge railway track at a key border crossing with China, as Moscow looks to accelerate its eastward pivot and boost ties with Beijing ahead of the Apec summit. According to a document posted on Russia’s official legislative information portal on Monday, Putin has now signed a law ratifying the railway deal reached with Beijing during the Russian leader’s visit to China in May. The two sides have agreed to... https://www.scmp.com/economy/china-economy/article/3373339/russias-eastward-pivot-gains-steam-putin-confirms-new-china-border-railway https://www.scmp.com/economy/china-economy/article/3373339/russias-eastward-pivot-gains-steam-putin-confirms-new-china-border-railway Thu, 05 Nov 2026 04:00:58 +0000 Mandy Zuo,Emma Ma Mandy Zuo,Emma Ma Hangzhou bank employee Xiao Na says she has no plan to buy anything during China’s ongoing Singles’ Day shopping festival, the world’s largest online retail promotion. “When I think about hunting around for things to buy just so I can use all kinds of coupons, the money I save is dwarfed by what I’ve lost in the stock market,” the 37-year-old said. “Stocks are falling, home values continue to slide, and my salary isn’t going up. Keeping more cash in my pocket is the best strategy.” Consumers... https://www.scmp.com/economy/china-economy/article/3373267/why-worlds-largest-online-shopping-festival-cannot-get-chinese-consumers-spending-again https://www.scmp.com/economy/china-economy/article/3373267/why-worlds-largest-online-shopping-festival-cannot-get-chinese-consumers-spending-again Thu, 05 Nov 2026 02:00:14 +0000 Xinyi Wu,Kandy Wong,Ji Siqi Xinyi Wu,Kandy Wong,Ji Siqi The Democrats’ comprehensive victory in the US midterm elections could embolden Congress to assert greater authority over trade policy and scrutinise the deals President Donald Trump made with China, analysts say, though a dramatic shift in Washington’s trade policy is unlikely. “Congress, including pro-free trade Republicans who have been intimidated into standing down, might be inclined to reassert some degree of congressional authority on trade,” said Stephen Olson, a former US trade... https://www.scmp.com/economy/china-economy/article/3373285/what-will-us-midterms-mean-trade-policy-china https://www.scmp.com/economy/china-economy/article/3373285/what-will-us-midterms-mean-trade-policy-china Wed, 04 Nov 2026 14:00:09 +0000 Emma Ma Emma Ma The People’s Bank of China’s (PBOC) intervention to raise the foreign exchange reserve requirement ratio amid the yuan’s sustained rally has delivered a reprieve for China’s broader export sector, as the measure is expected to partly ease appreciation momentum driven by the country’s enormous trade surplus, analysts say. China’s goods trade surplus mounted to a record US$938.1 billion in the January-September period, rising from US$726.2 billion in the same period a year prior. With the full... https://www.scmp.com/economy/policy/article/3373263/chinese-exporters-see-respite-beijing-curbs-yuan-rise-amid-looming-record-surplus https://www.scmp.com/economy/policy/article/3373263/chinese-exporters-see-respite-beijing-curbs-yuan-rise-amid-looming-record-surplus Wed, 04 Nov 2026 11:00:10 +0000 He Huifeng He Huifeng Guangdong, China’s most populous province, has unveiled a wide-ranging plan to revive consumer spending – one of the country’s biggest economic challenges – with schemes to encourage household purchases, attract overseas visitors and roll out AI-powered products. The plan, issued by the provincial development and reform commission on Tuesday, aims to turn overall economic growth into private spending power, though a veteran analyst cautioned there would be little impact without more jobs and... https://www.scmp.com/economy/china-economy/article/3373265/guangdong-pins-consumption-revival-hopes-tourism-health-care-children-and-elderly https://www.scmp.com/economy/china-economy/article/3373265/guangdong-pins-consumption-revival-hopes-tourism-health-care-children-and-elderly Wed, 04 Nov 2026 09:41:51 +0000 Brian Rhoads,Raymond Ma Brian Rhoads,Raymond Ma Democrats won control of both houses of Congress in midterm elections as US voters punished President Donald Trump over inflation, corruption and rising healthcare costs. The party was on track for at least 54 Senate seats after upset wins in long-standing Republican strongholds including South Carolina, Texas and Kansas. In the House of Representatives, Democrats were set to pick up dozens of seats and gain a double-figure majority. A collapse in Trump’s approval ratings amid record petrol and... https://www.scmp.com/plus/news/us/us-elections/article/3373259/trump-suffers-midterms-trouncing-weeks-xi-meeting https://www.scmp.com/plus/news/us/us-elections/article/3373259/trump-suffers-midterms-trouncing-weeks-xi-meeting Wed, 04 Nov 2026 09:24:47 +0000 Xiaofei Xu Xiaofei Xu European firms are heading to this year’s China International Import Expo (CIIE) in Shanghai, China’s biggest annual import fair, in search of new trade opportunities, with many treating the event as a test of Beijing’s promise to open up its market as frictions persist between Beijing and Brussels and the EU’s deficit with China keeps widening. “France wants to continue deepening its trade with China, under fair competitive conditions based on reciprocity and openness, as well as on better... https://www.scmp.com/economy/global-economy/article/3373246/chinas-annual-import-fair-eu-firms-test-beijings-promise-open-its-markets https://www.scmp.com/economy/global-economy/article/3373246/chinas-annual-import-fair-eu-firms-test-beijings-promise-open-its-markets Wed, 04 Nov 2026 09:00:10 +0000 Ji Siqi Ji Siqi As concerns over the financial health of a state-owned conglomerate rattled China’s bond market over the past week, analysts said its challenges reflected the lasting toll of the country’s prolonged property crisis, with local governments struggling to find sustainable alternatives beyond real estate to support their economies. At the centre of the storm is Zhuhai Huafa Group, the largest local government-owned enterprise in Zhuhai in southern China’s Guangdong province. While property... https://www.scmp.com/economy/china-economy/article/3373162/debt-fears-swirling-around-state-giant-shine-light-chinas-post-property-reality https://www.scmp.com/economy/china-economy/article/3373162/debt-fears-swirling-around-state-giant-shine-light-chinas-post-property-reality Wed, 04 Nov 2026 01:00:13 +0000 Mandy Zuo Mandy Zuo Shanghai scrap collector Li Jie has a problem, one which would appear unusual to most: trash is getting too valuable. “Ordinary recyclables like cardboard and plastic are now hard to come by,” he said. “Their prices have risen so much that there are so many collectors, including many companies.” The wave of new players has made it harder to find those materials, and others such as copper and aluminium. But even at small volumes, he said, the business remains profitable and he has no desire to... https://www.scmp.com/economy/china-economy/article/3373130/chinas-scrap-dealers-are-scrambling-waste-so-why-recycling-sector-booming https://www.scmp.com/economy/china-economy/article/3373130/chinas-scrap-dealers-are-scrambling-waste-so-why-recycling-sector-booming Tue, 03 Nov 2026 22:00:14 +0000 Daniel Ren Daniel Ren China’s central bank governor has reaffirmed support for the country’s beleaguered stock market after a series of rescue measures failed to put a floor under plummeting share prices. Pan Gongsheng, governor of the People’s Bank of China (PBOC), pledged in a work report presented to the standing committee of the National People’s Congress on Tuesday that more actions would be taken to ease financial risks in key areas, including the capital market and the property sector. “Monetary policy tools... https://www.scmp.com/business/china-business/article/3373166/pboc-pledges-support-stocks-chinas-market-slide-defies-rescue-efforts https://www.scmp.com/business/china-business/article/3373166/pboc-pledges-support-stocks-chinas-market-slide-defies-rescue-efforts Tue, 03 Nov 2026 12:50:16 +0000 Sherry Wang Sherry Wang The AI investment race between China and the US is closer than headline figures suggest, even though the technology is expected to make a greater contribution to economic growth in America, according to a Chinese think tank. The findings come as artificial intelligence becomes a focal point of technological competition between Beijing and Washington, with investment levels, computing power and the commercial applications of AI all under greater scrutiny. According to a report released recently... https://www.scmp.com/economy/china-economy/article/3373128/china-us-ai-investment-gap-narrower-figures-suggest-report https://www.scmp.com/economy/china-economy/article/3373128/china-us-ai-investment-gap-narrower-figures-suggest-report Tue, 03 Nov 2026 11:00:09 +0000 Mia Nurmamat Mia Nurmamat China and Oman have agreed to deepen cooperation in BeiDou satellite navigation, artificial intelligence and the digital economy, as Beijing seeks to expand the overseas applications of its home-grown technologies during the Sultan of Oman’s historic first visit to China. Analysts said the agreements reflected Beijing’s efforts to tap potential infrastructure opportunities in Oman as the Gulf state’s strategic importance grew amid the Middle East conflict. The agreements were signed during the... https://www.scmp.com/economy/global-economy/article/3373125/beidou-satellites-ai-china-signals-reach-oman-amid-growing-strategic-relations https://www.scmp.com/economy/global-economy/article/3373125/beidou-satellites-ai-china-signals-reach-oman-amid-growing-strategic-relations Tue, 03 Nov 2026 10:30:08 +0000 Brian Rhoads,Raymond Ma Brian Rhoads,Raymond Ma Chinese Vice-Premier He Lifeng said that building Hong Kong “remains a key strategy for China” as he outlined four ways for the city to boost its long-term prospects and support the country’s development. The city should strengthen its role as a centre for international finance and the offshore yuan market, promote high-quality economic and social development, support technological innovation and align with China’s 15th five-year plan, he said in a video address to the Global Financial Leaders’... https://www.scmp.com/plus/news/hong-kong/hong-kong-economy/article/3373123/hong-kong-seeks-balance-finance-growth-against-cyber-risks https://www.scmp.com/plus/news/hong-kong/hong-kong-economy/article/3373123/hong-kong-seeks-balance-finance-growth-against-cyber-risks Tue, 03 Nov 2026 09:01:17 +0000 Sylvia Ma Sylvia Ma China plans to expand foreign exchange settlement services and streamline cross-border trade payments, in a move to lower transaction costs and facilitate international commerce. The State Administration of Foreign Exchange (Safe) on Monday released a draft notice for public consultation outlining nine measures to facilitate current-account foreign exchange transactions. The proposals aimed to “broaden the applicable scenarios, scope and types of services” and “further reduce businesses’ fund... https://www.scmp.com/economy/policy/article/3373093/china-moves-simplify-forex-settlements-and-make-cross-border-business-easier https://www.scmp.com/economy/policy/article/3373093/china-moves-simplify-forex-settlements-and-make-cross-border-business-easier Tue, 03 Nov 2026 07:00:08 +0000 Ralph Jennings Ralph Jennings A severe drought in Indonesia is slowing output of a crucial material used to manufacture electric vehicle (EV) batteries, creating risks across China’s vast electric car supply chain. Indonesia is a vital link in the global electric car supply chain. The Southeast Asian nation is the world’s biggest production hub for nickel, a metal that is converted into a component used in lithium-ion batteries. But a sharp drop in rainfall in the country is causing local nickel refineries to reduce output,... https://www.scmp.com/economy/china-economy/article/3373055/indonesias-severe-drought-threatens-disrupt-chinas-vast-battery-industry https://www.scmp.com/economy/china-economy/article/3373055/indonesias-severe-drought-threatens-disrupt-chinas-vast-battery-industry Tue, 03 Nov 2026 01:53:45 +0000 Daniel Ren Daniel Ren Chinese carmakers’ marketing tactics are under the spotlight after a controversy surrounding a comment by an Xpeng employee drew harsh criticism from middle-aged consumers. The incident comes as regulators step up quality checks on the reliability of automotive companies, according to industry officials and analysts. During a live-streamed new model launch ceremony on October 15, an Xpeng product manager used the term lao deng – a slang term referring to middle-aged people who appear to be... https://www.scmp.com/business/china-business/article/3372984/sales-slow-carmakers-china-turn-overt-marketing-tactics-and-face-controversy https://www.scmp.com/business/china-business/article/3372984/sales-slow-carmakers-china-turn-overt-marketing-tactics-and-face-controversy Tue, 03 Nov 2026 00:00:29 +0000 Alice Li Alice Li Beijing’s municipal government plans to have more than 12,000 hydrogen fuel cell vehicles on its roads and build more than 40 hydrogen refuelling stations by 2030, as part of China’s efforts to promote hydrogen as a strategic energy carrier to strengthen energy security under a national pilot programme. The targets, set out in a five-year plan for the capital city’s hydrogen industry released on Friday, focus on expanding the use of hydrogen fuel cell vehicles in road transport, including... https://www.scmp.com/economy/china-economy/article/3372980/beijing-city-officials-boost-hydrogen-cars-china-sets-sights-future-industry https://www.scmp.com/economy/china-economy/article/3372980/beijing-city-officials-boost-hydrogen-cars-china-sets-sights-future-industry Mon, 02 Nov 2026 13:30:06 +0000 Sherry Wang Sherry Wang China has reported significant increases in its identified resources of rhenium, gold and nickel, alongside the discovery of a major zircon deposit, as it seeks to secure supplies of minerals vital to industries from aerospace to electric vehicle batteries. The progress could be significant for China, which remains heavily reliant on imports for some of these minerals, leaving its supply chains exposed at a time when many countries are tightening their grip on their mineral resources amid the... https://www.scmp.com/economy/china-economy/article/3372967/china-unearths-new-critical-mineral-deposit-bolstering-supply-chain-security https://www.scmp.com/economy/china-economy/article/3372967/china-unearths-new-critical-mineral-deposit-bolstering-supply-chain-security Mon, 02 Nov 2026 11:00:10 +0000 Neil Denslow,Haining Gao Neil Denslow,Haining Gao Chinese stocks rose following a report that financial regulators were set to discuss support measures with industry participants following a record 12-week sell-off. The CSI 300 Index closed up 0.8 per cent, while Shanghai’s tech-heavy Star 50 rose 3.1 per cent, the most since mid-September. Securities companies were among notable gainers marketwide, with Sinolink Securities and Pacific Securities both climbing by the 10 per cent daily limit. Hong Kong stocks gained 0.4 per cent. The People’s... https://www.scmp.com/plus/business/banking-finance/article/3372986/chinas-battered-stocks-get-little-relief-latest-support-efforts https://www.scmp.com/plus/business/banking-finance/article/3372986/chinas-battered-stocks-get-little-relief-latest-support-efforts Mon, 02 Nov 2026 09:00:09 +0000 Daniel Ren Daniel Ren China’s two largest carmakers, BYD and Geely Auto, recorded their strongest monthly sales of the year in October, bucking a downward trend in the world’s largest automotive market as smaller rivals come under increasing pressure to turn a profit. Shenzhen-based electric vehicle (EV) giant BYD handed over 490,168 cars to customers at home and abroad last month, up 11 per cent year on year, while Hangzhou-headquartered Geely delivered 310,183 petrol and electric cars worldwide in the same period,... https://www.scmp.com/business/china-business/article/3372948/byd-and-geely-hit-sales-highs-pressure-mounts-chinas-smaller-carmakers https://www.scmp.com/business/china-business/article/3372948/byd-and-geely-hit-sales-highs-pressure-mounts-chinas-smaller-carmakers Mon, 02 Nov 2026 08:00:07 +0000 Mia Nurmamat Mia Nurmamat A newly established Chinese start-up is developing what it describes as the country’s first home-grown new-energy business jet, adding to China’s efforts to cut aviation emissions. Beijing Airlink Aircraft, a Chinese private aircraft manufacturer founded in March, unveiled scale models of two variants of its Belyn 100 series at the Nanchang Aviation Industry Expo on Saturday. The company said its core team was drawn mainly from Tsinghua University’s School of Aerospace Engineering and China’s... https://www.scmp.com/economy/china-economy/article/3372959/chinese-start-says-it-developing-countrys-first-home-grown-new-energy-business-jet https://www.scmp.com/economy/china-economy/article/3372959/chinese-start-says-it-developing-countrys-first-home-grown-new-energy-business-jet Mon, 02 Nov 2026 06:51:37 +0000