Economy

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?

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.

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.

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.

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.

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.

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?

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?

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.