Economy

A train leaving Russia and entering China at Manzhouli. (Photo: Jack No1/Licensed under CC BY-SA 3.0)

Russia 'looks East': Surging logistics and trade flows across China-Russia border

With China-Russia trade leaping many-fold since Russia’s invasion of Ukraine, both sides have forged stronger cross-border transport and freight links, says US academic Chen Xiangming. However, this comes with challenges, due to Russia’s historical orientation toward Europe and severely underdeveloped Far Eastern regional and local economies.
A BYD Co. Dolphin electric vehicle at the Smart China Expo in Chongqing, China, on 4 September 2023. (Qilai Shen/Bloomberg)

Is China's EV rise a true success?

The EV adventure in China has been successful in some respects, not least with 5.9 million EVs sold on the Chinese market, amounting to 59% of EVs sold globally. However, as a means to reduce climate change, the effort has tended to “put the cart in front of the horse”, because EVs are not particularly environmentally friendly without a steady stream of renewable electricity supply. Academic Erik Baark lays out the factors involved.
A worker welding metal at a factory in Hangzhou in China's eastern Zhejiang province, on 15 July 2023. (AFP)

Big Read: Taiwanese businesses' declining interest in mainland China

After the Covid-19 pandemic, the Chinese economy faces arduous challenges and the Chinese government is trying its best to attract foreign businesses and investors. While Taiwanese business owners are obvious targets, China is only looking to attract Taiwanese companies of strategic value, specifically those in info-communications and machinery manufacturing. At the same time, Taiwanese business owners have become more guarded about investing in the mainland due to growing internal and external uncertainties. Lianhe Zaobao journalist Miao Zong-Han speaks with industry experts to find out more.
This photo taken on 20 June 2023 shows a view of a complex of unfinished apartment buildings in Xinzheng city in Zhengzhou, Henan province, China. (Pedro Pardo/AFP)

Can new policies revive China's home sales?

In a bid to boost home purchases in what has normally been the peak sales period of September and October, Guangzhou and Shenzhen have announced preferential policies for homebuyers. However, Lianhe Zaobao correspondent Chen Jing notes that market confidence is still at a low; are the new policies enough to boost the Chinese property market’s recovery?
Workers walk out of a construction site of residential buildings by Chinese developer Country Garden, in Tianjin, China, on 18 August 2023. (Tingshu Wang/Reuters)

Clock ticking on Country Garden’s debt bomb

Amid China's property crisis, Country Garden is on the way to becoming the next casualty as it teeters on the brink of its maiden bond default. Compared with many of its distressed peers, Country Garden was in a better position during the early stages of the property market downturn. But now, the company is scrambling for a lifeline.
People in Central, a financial hub in Hong Kong, China, on 3 July 2023. (May James/AFP)

Hong Kong no longer the 'East-meets-West' financial hub of yesteryear

Hong Kong’s stock market has taken a beating recently, with the number of IPOs and trade volumes in a slump. Amid the different factors causing the poor performance, including the economic situation in mainland China, analysts believe that the Hong Kong Stock Exchange’s long-running focus on the West and oversight of Southeast Asia needs to be addressed. Lianhe Zaobao journalist Liu Sha finds out more.
Cars waiting to be loaded onto a ship at Lianyungang port, in Jiangsu province, China, on 13 July 2023. (AFP)

China’s auto exports belie roadblocks to conquering Europe and US

Chinese automakers have performed well in their push to go global, especially as Europe is now its biggest overseas market. But with Europe and the US ramping up policies to promote their own EV industries, the road ahead for Chinese automakers is not without hurdles.
Luxury cars throng the streets in Changkeng township, Anxi county.

How Fujian’s tea capital became known as a 'scam town'

At least half of the Chinese men who were recently charged in a billion-dollar money-laundering probe in Singapore are from Anxi — a province in Fujian known for producing tea but is now frequently linked to its involvement in scams. Lianhe Zaobao correspondent Chen Jing visits the county to find out how prevalent fraudulent activities are and the impact on its locals.
Cosplayers walk on a shopping street, in Shanghai, China, 31 July 2023. (Aly Song/Reuters)

Big Read: Young women are the driving force in China's consumer market

With the rise of e-commerce, traditional department stores are having a hard time attracting customers, especially following three years of the pandemic. While some stores have managed to re-style themselves to tap into the younger generation, others have struggled to move past the fashion of 20 or 30 years ago and are closing their doors as a result.