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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.
last updated:
15 October, 2024
China’s cinemas saw diminished attendance numbers in 2024 in an increasingly saturated entertainment market. Photo: Shutterstock
China’s film industry

Quiet on set: China’s film industry fights for relevance as admissions flag

With lower ticket sales and fierce competition from online entertainment, China’s film industry faces demotion in cultural status.

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Taiwan

Beijing’s pilot zone for economic integration with Taiwan running out of steam

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China’s economic stimulus

China’s premier tells local authorities to give economy an early boost

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Retailing

Calling all smartphone seekers: China to subsidise personal electronics

In a bid to galvanise business and shore up weak consumption, last year’s trade-in programme is being expanded, making it a good time to save on electronics.

China will subsidise purchases of personal devices such as smartphones this year. Photo: Reuters
China travel

Inbound travel to China set to surge in Lunar New Year amid visa-free expansion

International travel bookings to China have already doubled the previous year’s figure, spurred by additions to the visa exemption list.

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China economy

Editorial | China’s economy on right track but many challenges remain

In a highly unstable international environment, nation’s policymakers must ensure next five-year plan keeps country on upwards trajectory.

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China manufacturing

China’s factory-activity growth slows as recovery remains bumpy: Caixin PMI

Rate of output expansion eases to three-month low in December as growth in new orders slows.

Staff work on a production line at a texile factory in China’s Jiangsu province. The nation’s factory activity grew in December, but at a slower-than-expected pace. Photo: AFP
Foreigners in China

China’s bid to bring back foreign visitors is bearing fruit, but is it enough?

Visitor numbers are well down on pre-Covid levels despite a string of measures, including the offer of visa-free access.

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China technology

China plans for 15% annual data industry growth as digitisation deepens

A recent set of government guidelines is positioning China’s data industry as a major growth driver in the coming years.

China manufacturing

Cutthroat competition puts China ‘sectors in distress’, economic official warns

The worsening problem of ‘involution’, or neijuan, is forcing Beijing to ramp up rhetoric to overcome a major obstacle to China’s economic growth.

Employees work on an electric-truck assembly line in China’s Jiangsu province. The nation’s EV sector is facing problems from “involution”. Photo: AFP
Banking & finance

Hefty fines reflect resolve of China’s central bank as bond yields plunge

Three institutions are slapped with multimillion-dollar penalties for bypassing regulatory requirements – the first such action taken after PBOC warnings this year.

Amid declining returns from traditional assets such as stocks and real estate, investors are increasingly turning to low-risk options, such as government bonds. Photo: AFP
China manufacturing

As China’s factory activity keeps expanding, exports still face complications

Official manufacturing purchasing managers’ index (PMI) dropped slightly in December, while non-manufacturing PMI saw a significant expansion.

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Banking & finance

Naughty bankers: China’s financial crackdown saw dozens investigated in 2024

With hopes of becoming a ‘financial superpower’, China has been ramping up efforts to curb risks and keep malfeasance in check.

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China economy

My Take | China economy: Beijing must make strong preparations for a period of slow growth

China is expected to record 5 per cent economic growth this year, but that number has lost its relevance to many investors and consumers.

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For many Chinese, 2024 will be remembered as a year when they had to come to terms with the prospects of a long period of slow economic growth. Photo: Shutterstock
US-China relations

Trump’s first 100 days: can Beijing stop downwards spiral in US-China ties?

Early contact with new administration seen as an important ‘window of opportunity’ for Beijing to help set the course of future relations.

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Illustration: Lau Ka-kuen
Electric & new energy vehicles

China mandates 30% EVs in government fleets in boost for carmakers, net zero

The finance ministry circular on EV purchases was preceded by a similar notice from a central government procurement agency in October.

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China trade

China’s cattle farmers, beefing with importers, lobby for probe as prices drop

China’s beef industry, imperiled amid a 11-year low in prices, has blamed imports for the slump and called for government action.

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China-EU relations

Open Questions | ‘Phase 2 China shock is coming’: Adam Tooze on Europe, America and manufacturing

Historian says he worries about escalation in tension between the great powers ‘to the point now of genuine war scares’.

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Illustration: Henry Wong
Bonds

China bond bulls relish market in 2025 as worries about economy persist

Some brokerages believe yield on 10-year government bond could fall below 1.5 per cent in 2025.

Low-altitude economy

China sets sights on low-altitude economy to drive 2025 growth with special unit

Top planning body’s new Low-altitude Economy Development Division indicates a rare focus on a specific industry.

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China economy

Letters | Why China should give young people cash to spend

Readers discuss what is holding back China’s economic recovery, private school finances, and what makes Hong Kong a more attractive destination than Seoul or Tokyo.

People pack out a job fair in Shenyang, Liaoning province, on October 22. Youth unemployment remains high in China. Photo: AFP
China’s economic stimulus

China’s industrial profits fall again, but pace of decline slows

National Bureau of Statistics data shows state-owned enterprises trailing others with 8.4 per cent year-on-year drop.

Workers make wheels at a bicycle factory in Pingxiang county, Hebei province, in October. Photo: Xinhua
China manufacturing

In China’s industry, it’s the law of the jungle. How should Beijing intervene?

A storm is gathering strength in China’s overheated industries, and its name is neijuan, as government intervention squares up against the law of the jungle.

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China GDP

China’s economy gains new growth and deep scars over past 5 years: NBS census

Since 2018, industrial and services sectors have withstood external pressures but there is cause for concern, statistics head Kang Yi says.

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Tourism

A song of ice and snow: China’s Harbin and the winter economy push

A plan for developing China’s snow and ice economy includes extending the duration of visa-free transit stays.

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Workers at the Harbin Ice-Snow World construction site in Harbin, Heilongjiang province, on December 9. Photo: Xinhua
China stock market

Buy or wait? Consumers put Beijing on hook for more rescue subsidies

Retailers fret about weak sales while ‘greedy’ consumers hold out for bigger subsidies from Beijing next year.

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Consumers shop for refrigerators at a trade-in promotion for home appliances in Handan on October 7, 2024. Photo: Getty Images
China’s economic stimulus

China’s finance ministry vows measures to boost consumption and investment

Other priorities set out at meeting include strengthening supply chains, more fiscal backing for tech-focused start-ups, and more aid to businesses facing difficulties.

Transport and logistics

State Council guideline encourages private investment in China’s railways

Cabinet calls for transparent pricing, the elimination of regional barriers, and equal treatment of all businesses to improve logistics sector.

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