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TOPIC

China's economic recovery

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China's economic recovery
This topic charts China's economic recovery as it, in 2023, enters an era of slower growth, along with an ageing and shrinking workforce, weak consumer demand and a property market downturn.
Open Questions series

Zheng Yongnian on what US’ ‘neocolonialism’, Venezuela operation mean for China

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Illustration: Victor Sanjinez

Liu Qian on Chinese innovation, the US rivalry and women holding up half the sky

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Illustration: Victor Sanjinez Garcia

Fuchsia Dunlop tells how she fell for China’s cuisine and names her perfect dish

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Illustration: Lau Ka-kuen

80 years on from WWII, China’s interests lie in peaceful Asia-Pacific: Mitter

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Illustration: Lau Ka-kuen

‘Delusional’: Jeffrey Sachs on why Western hegemony has ended

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Illustration: Henry Wong

Scholar Jing Qian on right-sizing China’s economy in the age of Trump

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40
Illustration: Lau Ka-kuen

Zheng Yongnian on what US’ ‘neocolonialism’, Venezuela operation mean for China

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15
Illustration: Victor Sanjinez

Liu Qian on Chinese innovation, the US rivalry and women holding up half the sky

7
Illustration: Victor Sanjinez Garcia

Fuchsia Dunlop tells how she fell for China’s cuisine and names her perfect dish

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5
Illustration: Lau Ka-kuen

80 years on from WWII, China’s interests lie in peaceful Asia-Pacific: Mitter

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18
Illustration: Lau Ka-kuen

‘Delusional’: Jeffrey Sachs on why Western hegemony has ended

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93
Illustration: Henry Wong

Scholar Jing Qian on right-sizing China’s economy in the age of Trump

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40
Illustration: Lau Ka-kuen
MORE FROM THIS SERIES
China’s top economic officials answer questions at a press conference in Beijing on March 6, 2026. Photo: Xinhua
Two Sessions 2026

8 takeaways from the economic briefing at China’s ‘two sessions’

China’s top economic officials laid out their priorities for trade, technology and investment in 2026.

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Two Sessions 2026

China vows support for tech, trade rebalance, stock reforms - as it happened

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Two Sessions 2026

China pivots to ‘investing in people’ strategy as growth engine switches gears

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Two Sessions 2026

Why China is moving away from tax cuts and pushing for reform

Tax revenue is way below peer countries – and Beijing is pushing for change.

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Premier Li Qiang is visible on a screen during the opening session of the National People’s Congress at the Great Hall of the People in Beijing on Thursday. Photo: Reuters
China manufacturing

China bets on AI-manufacturing integration to narrow digital gap with US

Beijing’s new five-year plan calls for digital economy to account for bigger share of GDP, backed by 28 major projects, 5G upgrades and data-focused industrial policy.

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Artificial intelligence

China’s 5-year plan emphasises ‘orderly’ AI development amid market volatility

First announced in 2024, the AI Plus initiative includes a target of integrating AI into 90 per cent of China’s economy by 2030.

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Two Sessions 2026

China targets lowest growth range in 35 years as pressures rise

Beijing to prioritise hi-tech over stimulus-driven growth with focus on the people in notable shift, premier’s work report to NPC reveals.

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Chinese Premier Li Qiang’s speech at the National People’s Congress opening session is broadcast on a giant TV screen, in Beijing on Thursday. Photo: Robert Ng
Two Sessions 2026

China pledges ‘iron discipline’ to tackle debt as US borrowing surges

Global debt reached a record high in 2025 and rose in the world’s two largest economies.

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Two Sessions 2026

China’s growth target cut reflects pragmatism amid challenges

Premier Li Qiang announced China’s lowest annual growth target in more than three decades amid global trade tensions and weak domestic consumption.

Two Sessions 2026

China to step up tech, energy and decarbonisation efforts in next 5-year plan

China raises domestic energy output target and increases number of key projects planned for the next 5 years.

An engineer inspects the intelligent computing servers at a China Telecom facility at the Beijing-Tianjin Industrial New City Gaocun Data Intelligence Innovation Park in Tianjin’s Wuqing district last month. Photo: Xinhua
Science

‘Two sessions’, two paths: China prioritises AI integration amid US tech rivalry

Beijing’s open-source push in focus ahead of annual legislative meeting and coming five-year plan, as Washington chooses different approach.

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The US has sought to slow China’s tech development, mainly through blocking the export of advanced chips used to power AI. Photo: Shutterstock Images
US, Israel war on Iran

Stagflation risk emerges amid Mideast oil crisis, clouds China’s economic battle

While rising energy costs from war in Iran may briefly aid China’s deflation battle, analysts warn how oil price spike could threaten nation’s fragile economic rebound.

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Science

Manufacturing talent boom? Why China’s smartest students are factory-bound

Some of the country’s brightest minds enter traditional industrial sectors as manufacturing loses its blue-collar stigma.

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China property

Can China’s ‘two sessions’ find a strategy to fix the property rot?

China signals shift from debt-driven housing growth, but sweeping stimulus seen as unlikely.

Calls to ‘accelerate the development of a new model for real estate’ have featured prominently in government work reports. Pnoto: AFP
Two Sessions 2026

Opinion | Now is the time for China to show it’s serious about opening up

The ‘two sessions’ is Beijing’s chance to demonstrate reliability as nations reassess their ties with China and the US in an increasingly fragmented global order.

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Illustration: Craig Stephens
Retailing

Warm winter no match: China’s sportswear sector posts surprise growth

Policy support, Chinese New Year demand and Winter Olympics exposure lift China’s sportswear makers, with Li Ning and Anta leading gains.

Two Sessions 2026

China’s pivot from GDP obsession sparks cadre confusion, tests local governance

Governors and mayors must reconcile Beijing’s people-centric mandates with traditional growth targets, navigating vague appraisal changes and performance concepts.

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Two Sessions 2026

China’s February Politburo readout

SCMP Plus annotates the official report on the February meeting of China’s top decision-making body, as leaders prepare for the annual legislative meetings known as the “two sessions”.

China’s February Politburo readout
Two Sessions 2026

‘Two sessions’, Trump tariffs, JD.com earnings

This week: Lawmakers ready for China’s ‘two sessions’, Trump imposes new global tariffs, Germany’s Merz meets Xi. Next week: JD.com reports earnings, toughened trade measures kick in, manufacturing PMI comes outs, Honor debuts robot, and more.

China GDP

Chinese regions cut growth targets for 2026

Most of China’s 31 provincial-level regions have set lower economic targets for this year than for last year.

China travel

Why China’s travellers spent little, despite rise in Chinese New Year trips

The country logged a record 596 million domestic trips over the extended holiday, but consumers are still reluctant to loosen their purse strings.

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A lion dance troupe performs for tourists during the Chinese New Year celebrations in Bangkok, Thailand. Photo: EPA
China manufacturing

A boat in every dock? Chinese billionaire unveils plan for mass yacht production

JD.com founder Richard Liu has launched a nautical brand with a massive investment in yacht production, aiming to make ownership affordable.

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Richard Liu’s brand, Sea Expandary, signed a strategic framework agreement on Tuesday with the coastal cities of Shenzhen and Zhuhai in Guangdong, China’s southern powerhouse province, for a high-end yacht industrial base with planned investment of about 5 billion yuan (US$723 million), according to social media posts by the city governments. Photo: Handout
China consumption

IMF urges China to focus on consumption-led rebalancing, curb industrial policy

Global monetary body calls on Beijing to roll out more forceful fiscal stimulus to bolster domestic demand amid record trade surplus.

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China technology

Shenzhen dethrones Shanghai, Beijing as China’s top industrial powerhouse: mayor

Leading in R&D density, AI innovation and start-up cultivation, Shenzhen is building a full-stack AI ecosystem, according to the mayor’s annual work report.

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China consumption

Ne Zha 2 hangover? China’s Lunar New Year box office plunges to 6-year low

China’s holiday box office fell nearly 40 per cent year on year as studios failed to find a breakout hit to match last year’s Ne Zha 2.

People line up to enter a cinema in north China’s Tianjin. Photo: Xinhua
China consumption

China’s weak consumption gets Lunar New Year boost

An 8.6 per cent increase in Lunar New Year spending is a rare bright spot in Chinese efforts to bolster domestic demand.

Spring Festival traffic. Photo: AFP
China consumption

Boom or bust? China’s Lunar New Year spending data is in – here is what we know

Initial figures show record travel, shifting spending patterns and a weak box office.

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China education

China’s vocational degrees rising as students seek skills over prestige

Job-placement rates for vocational undergraduate colleges now outpace traditional universities, as youth unemployment drives pivot to more reliable employment path.

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