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Background explainers, news and analysis on China’s economy, including its opening up, the US-China trade war, the impact of tariffs and trade talks, growth rates and other key economic data, the Belt and Road Initiative, and Greater Bay Area plan.

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China Economy
An elderly Chinese farmer works a vegetable field in Anhui province. Photo: Getty Images
China Economy
Beijing urged to boost rural pensions as lawmakers fight for farmers’ fair share
Appeals highlight a long-standing lack of benefits for elderly citizens outside cities, and proposals include leveraging state assets and new taxes to bridge the vast disparity.
The Thai‑flagged cargo ship Mayuree Naree smoulders after being hit by Iranian missiles in the Strait of Hormuz on Wednesday. Photo: EPA/Royal Thai Navy
Diplomacy
In a new age of disorder, is it time for China to rethink non-intervention?
With the Iran crisis, the world is in a ‘jungle phase’ and Beijing should work on interventionism 2.0, government adviser says.
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Liu Yonghao, founder and chairman of New Hope Group, speaks at an event in Beijing in 2018. Photo: Simon Song
China Economy
Chinese firms should focus on stable regions when going global: entrepreneur
Escalating Middle East conflict, currency fluctuations make destinations like Southeast Asia, Australia attractive, top business leader says.
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US President Donald Trump, left, talks to Chinese President Xi Jinping as they shake hands after their talks in South Korea in October. Photo: TNS
China Economy
Trump’s tariff investigation ‘bluff’ will not work on China, analysts warn
Beijing has grown wise to the US president’s ‘art of the deal’ tactics and will not be fazed by the new Section 301 investigations, analysts say.
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People queue at Baidu’s headquarters in Beijing on Wednesday to have OpenClaw installed on their laptops. Photo: AFP
Tech Trends
Amid OpenClaw frenzy, China’s central bank adds to cybersecurity warnings
People’s Bank of China says deployment of AI in financial sector should be ‘proactive yet prudent, safe and orderly’.
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Workers harvest rice in China’s Zhejiang province in October. Photo: Xinhua
Global Economy
China targets record food-security push in shadow of US-Israeli war with Iran
Beijing is pushing for bigger harvests in its new five-year plan, coinciding with renewed pressure on global supply chains.
Comac’s C919 aircraft on display during Airshow China 2024 in Zhuhai, south China’s Guangdong province. Photo: Xinhua
China Economy
China’s 5-year jet goals target C919 output, a new engine and less reliance
Amid geopolitical risks and supply-chain disruptions, Beijing is looking to shore up self-sufficiency in aircraft components, and an analyst says it has its work cut out.
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Illustration: Henry Wong
China Economy
China’s industrial policy goes global, challenging decades of free market rule
China’s tighter embrace of industrial policy in recent years has transformed its economy – and other countries are following suit.
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Illustration: Craig Stephens
China Opinion
Opinion|More abundance, less prosperity: why 2 Chinas are emerging
China’s 15th five-year plan doubles down on investing in technology at the expense of household wealth.
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About half of China’s oil comes from the Middle East, underscoring the importance of the Strait of Hormuz (pictured, with anchored LPG gas tanker on Wednesday), which also serves as a crucial trade corridor for the country’s exports. Photo: Reuters
China Economy
As Iran war hits trade hubs, China’s logistics firms rush for alternatives
Disrupted Middle East transit routes squeeze sector, pushing freight costs higher and pressuring supply chains.
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The move will bring the total cumulative investment of Eli Lilly in China to nearly US$6 billion. Photo: Reuters
Banking & Finance
Eli Lilly boosts China footprint with US$3 billion plan to expand supply chain
US firm is strengthening its China operations amid an intensifying expansion race with other pharmaceutical giants.
People look for employment opportunities at a job fair in Meishan, Sichuan province, last month. Photo: Xinhua
Tech
Demand for AI talent in China outpaces other ‘new-economy’ sectors
AI-related positions accounted for more than a quarter of new-economy job listings in the first two months of the year, report says.
Indian Prime Minister Narendra Modi shakes hands with Chinese President Xi Jinping during a bilateral meeting on the sidelines of the Shanghai Cooperation Organisation summit in Tianjin in 2025. Photo: AFP
China Economy
India opens door to more Chinese investment after 6-year freeze
New Delhi’s easing of foreign investment rules comes amid a cautious push by India and China to repair ties after years of tense relations.
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Delegates exit the venue after the second plenary meeting of the Fourth Session of the 14th National People’s Congress (NPC) of China in Beijing. Photo: EPA
China
China’s ‘two sessions’ 2026: everything you need to know
From US ties post-Iran to new tech innovation strategies, here is everything you need to know about China’s ongoing ‘two sessions’.
Geely Auto’s sales of EVs jumped 10.1 per cent to 241,740 units in the first two months of the year from a year earlier. Photo: Shutterstock
China EVs
Geely beats BYD sales in first 2 months of 2026 to become China’s top carmaker
Geely’s sales rise 1 per cent to 476,327 units in January and February, while BYD’s sales slump 38.5 per cent to 400,241 units.
Vehicles refuel at a petrol station in Changzhou, Jiangsu province, on Monday ahead of an increase in petrol and diesel prices that came into effect on Tuesday. Photo: Xinhua
China Economy
How is China insulating its energy security amid geopolitical shocks?
Increasing oil and gas exploration, pushing ahead with green transition among contingency plans in place, geologist NPC deputy says.
Halo companies own heavy physical assets that are capital-intensive and difficult to replicate, such as oil and gas pipelines. Photo: Xinhua
China Business
As Wall Street embraces Halo, is China set to lead the heavy-asset era?
The investment strategy gains momentum as AI spending, geopolitics and inflation boost demand for firms with heavy assets, low obsolescence.
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This video grab shows fire erupting at an oil depot in Iran’s capital Tehran after the United States and Israel launched strikes against Iran starting on February 28. Photo: AFP
Global Economy
As war on Iran escalates, Asia scrambles to deal with global energy fallout
China, Japan and South Korea have all taken steps to reduce impact of supply shortages – but analysts warn of spillover.
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Illustration: Lau Ka-kuen
China Economy
Why China’s red-hot tech push is leaving some sectors out in the cold
Beijing’s preferences for innovation and emerging industries are affecting businesses’ development paths and reshaping the corporate landscape.
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China accounted for 71 per cent of US rare earth element imports from 2021 to 2024, according to the US Geological Survey. Photo: Reuters
Diplomacy
Could China’s rare earth supplies dictate how long US strikes on Iran go on?
The American military’s dependence on Chinese sources gives Beijing leverage in the lead-up to Trump’s trip, sources say.
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US President Donald Trump is expected to visit Beijing and meet Chinese leader Xi Jinping at the end of the month. Photo: TNS
Diplomacy
From ‘love and hate’ to nationalism, can Xi and Trump rebalance ties?
Chinese scholars say the US-China relationship has changed, and there’s a chance for the two powers to steer away from confrontation.
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A crude oil tanker is guided to a berth at a terminal in China’s Shandong province on Saturday. Photo: AFP
Global Economy
China’s oil-import surge seen shielding economy with 120-day buffer
Crude volumes rose sharply in January and February as Beijing amassed reserves, pre-empting Mideast risks, and analysts say it provides a strong buffer for global supply disruptions.
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Candidates in the Baden-Wurttemberg state election attend a press conference in Stuttgart after the release of exit polls on March 8. Photo: AFP
Global Economy
Why the ‘China threat’ was barely mentioned in Germany’s latest state election
Baden-Wurttemberg’s car industry is facing steep job losses amid intense Chinese competition. But local candidates largely avoided blaming China.
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According to China’s draft 15th five-year plan released last week, the country will strengthen infrastructure in border areas. Photo: Xinhua
Diplomacy
How China plans for greater power projection in Xinjiang and Tibet
China aims to finish two highways spanning all nine land-border provinces, advance a highway on east coast and upgrade three highways into Tibet.
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An oil tanker docked next to storage tanks in Hong Kong. Photo: dpa
China Economy
Daily Pulse|China’s energy defences ease sting of Iran war instability
Reliance on coal power, investments in renewables and a huge oil stockpile will help China weather disruption to global crude supplies stemming from the Iran war.
People take part in a lantern parade in Xiuning county, Huangshan city, Anhui province on August 29, 2025. The central government could assess cadres through periodic surveys of the satisfaction of the local populace. Photo: Xinhua
China Opinion
Opinion|How China can put brakes on local cadres’ blind pursuit of GDP growth
To shift the mindset of local policymakers away from growth at all costs, China must also reset incentives and fiscal priorities.
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Semiconductor chips under process at a factory in Binzhou, in eastern China’s Shandong province. Photo: AFP
Big Tech
China’s chip exports surge 73% as AI demand fuels semiconductor growth
Chip exports hit US$43.3 billion in January and February, outpacing China’s overall export growth of 21.8 per cent in the same period.
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Cargo containers and ships at a port in Qingdao, Shandong province, on March 3. Photo: AFP
Economic Indicators
China’s exports surge 21.8% to start 2026 – biggest gain in 4 years
Despite an 11 per cent drop in US exports, China’s trade soared, buoyed by robust demand from Asean, the EU and other markets.
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US President Donald Trump on Monday threatened a larger attack on Iran if it blocks supplies of oil. Photo: AFP
Commodities
Hong Kong stocks rebound after oil falls as Trump says Iran war could end soon
US objectives in Iran are ‘pretty well complete’ but the war could continue if Tehran attempted to stop global oil supplies, Trump says.
Opinion
Editorial|China’s ‘two sessions’ passes smoothly despite global turmoil
As long as China focuses on economic development, Hong Kong can leverage its unique strengths to seize opportunities.
SCMP Editorial
Editorial|Amid external uncertainties, China steers for growth and stability
Government work report pledges to continue doubling down on innovation and upgrading of manufacturing; Hong Kong featured prominently.
SCMP Editorial
Editorial|China steps up its clean energy push with electric ships
As the world’s largest shipbuilder and a leader in EVs and advanced batteries, the country is well placed to help clean up the polluting shipping industry.
SCMP Editorial
Editorial|Strikes on Iran may complicate US-China ties
No significant impact expected on China’s, or Hong Kong’s, economy from the most recent conflict in the Middle East.
SCMP Editorial
Macroscope|US dollar weakness is no game changer for a globalised yuan
Beijing will seize on the crisis to promote the yuan, but without capital account liberalisation – essential for a truly global currency – its rise will remain limited.
Nicholas Spiro
Editorial|As China and Indonesia strengthen ties, Hong Kong has a role to play
The SCMP’s China Conference: Southeast Asia highlighted the synergies between the world’s second-largest and Asean’s biggest economies.
SCMP Editorial
Editorial|China well placed to take advantage of the shift away from the US dollar
A stable and strong yuan has international appeal, just as a reliable and strong China is being seen as the rock on which the global system should be rebuilt.
SCMP Editorial
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Editorial|China’s EV industry should focus on consolidation at home, expansion abroad
With Beijing discouraging ‘irrational competition’, the fewer brands with greater scale that emerge from the consolidation wave should look to opportunities abroad.
SCMP Editorial
As I see it|The Chinese century may already be here
International competition will be won by nations with steady and realistic policies guided by a vision, not the ones indulging in cowboy militarism.
SCMP ColumnistAlex Lo
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Editorial|Amid rivalry with US, silver can be seen as China’s new industrial leverage
Beijing’s export controls are simply about following the logic of the market and geopolitics in the interest of the nation.
SCMP Editorial
Macroscope|What to expect from Chinese stocks in 2026
While the underperformance of Chinese equities in the last financial quarter warrants scrutiny, overall gains are likely to continue in 2026.
Nicholas Spiro
Editorial|China’s resolve to invest in people is economic good sense
The government’s plan to invest in people as well as physical assets is aimed at improving domestic demand while aiding low-income households.
SCMP Editorial
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