Economy

A general view shows the Lujiazui financial district (left) in Shanghai, China, on 22 September 2021. (Hector Retamal/AFP)

China joining the CPTPP: It's a matter of time

Zhang Rui analyses that there are more pros than cons to China’s entry to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) whether one looks at it from China’s individual economy, regional industrial chains or global income gains. However, sizeable obstacles stand in the way of its entry, not least US-led political roadblocks, even if the latter is not currently a member of the reconfigured CPTPP. China’s internal system and regulations will also have to change to meet the rigours of the high-standard CPTPP. Can China play the long game and will the world truly move closer towards Asia-Pacific economic integration?
In this file photo taken on 23 October 2019, a Facebook employee tries out an Oculus device at the company's corporate headquarters campus in Menlo Park, California. (Josh Edelson/AFP)

China-US competition: Who will set the rules in a digital world?

Analyst Zheng Weibin says that while the China-US competition is a tussle for power that some would compare to the Cold War of the 20th century, digital technology is making all the difference in the 21st century. Today's competition is taking place amid changing definitions of national strength and economic power, and China needs to catch up in terms of growing its digital economy and meeting the challenges that come with it.
The Beijing Stock Exchange website was tested on 10 September. (CNS)

New Beijing Stock Exchange will narrow economic gap between northern and southern China

A new Beijing Stock Exchange is good news for technology-focused small- and medium-sized enterprises, especially those with innovation potential but may not fit the listing requirements of traditional exchanges. Not only that, it will likely give a boost to SMEs in the north, helping to balance regional economic imbalances.
An unfinished residential building is pictured through a construction site gate in Luoyang, China, 16 September 2021. (Carlos Garcia Rawlins/Reuters)

Property conundrum: Chinese society disagrees over how much property prices should fall

Even as the Chinese government tries to ease property prices, some local governments are worried that prices might fall too much, triggering social effects. As a stop-gap measure, they are rolling out regulations to “limit the drop”, frustrating those who are waiting to buy a house. Zaobao correspondent Yang Danxu looks at how the authorities plan to manage a property bubble that mustn’t burst.
A woman walks with an umbrella amid rainfall in Shanghai, China, 13 September 2021. (Aly Song/Reuters)

Why China needs to set its own house in order with a regulatory spurt

China has introduced a wave of strong regulatory moves on various industries over the past months, alarming international observers and causing jitters in the financial market. However, says academic Gu Qingyang, these moves could be necessary and might just set China in the right direction to face future challenges better.
A woman cries as she and other people gather at Evergrande's headquarters in Shenzhen, China, on 16 September 2021. (Noel Celis/AFP)

Will the Chinese government save Evergrande?

While retail investors and observers fear that Evergrande’s fall from grace will trigger a subprime mortgage crisis in China, the Chinese authorities seem quite comfortable letting Evergrande cover its own losses, despite the short-term instability foreseen. Han Yong Hong explains why.
A worker stands in front of Mao Zedong sculpture at Dandong station at the border city of Dandong, in China's northeast Liaoning province on 11 August 2021. (Noel Celis/AFP)

China's growing north-south gap: Can the north catch up?

Zaobao correspondent Yu Zeyuan notes the growing gap between northern and southern China in terms of economic and population growth, as businesses and people become more concentrated in the south. How will the central government tackle this imbalance?
This drone shot taken on 21 August 2021 shows a general view of Shenzhen. (CNS)

Will clampdowns on China’s property sector lead to economic turmoil?

Zaobao correspondent Yang Danxu notes that China’s property market has long been deeply bound with various aspects of China’s economy and society, forming a community of shared interests. Following increasing regulations on the property sector as part of the government’s drive towards “common prosperity”, will a chain reaction of economic turmoil ensue or is this a necessary move to achieve larger goals?
Vendors sell vegetables at a stall in an older neighborhood in Shanghai, China, on 30 August 2021. (Qilai Shen/Bloomberg)

China's internet giants are shelling out money for 'common prosperity'. But is that enough?

Heightened gestures of corporate social responsibility and outright donations from major companies have been declared since the Chinese government’s recent push for “common prosperity”. Are these simply knee-jerk reactions to the government’s stance? Can companies be encouraged to be more socially responsible in the long term? China is all abuzz with talk on ways to achieve common prosperity.