Economy

Pedestrains on a street in Shanghai, China, 30 January 2023. (Qilai Shen/Bloomberg)

Uneven recovery ahead for China’s economy

Optimism over China's economic outlook may be rising, but its recovery is uneven, with different industries experiencing different levels of rebound. Furthermore, can Chinese authorities ensure a better business environment and greater transparency, as well as policy consistency and guarantee of the rule of law, to attract back businesses and investors?
A man walks along a street in the central business district in Beijing on 3 February 2023. (Jade Gao/AFP)

How Chinese private firms can be made more confident of the government's support

Academic Pei Sai Fan notes that the Chinese government’s moves to regulate and clean up various sectors in China’s economy has led to private enterprises feeling uncertain about what might happen to them in future, especially as declarations of support for the private sector economy seem to be just lip service.
Men work at a construction site of apartment buildings in Beijing, China, 15 July 2022. (Thomas Peter/File Photo/Reuters)

China’s property companies going bust may be a common sight in 2023

Chinese academic Yi Xianrong remarks that while the Chinese government had emphasised stability for the property sector in recent years, the market was in dire straits in 2022, marked by abysmal sales and financial figures and rock-bottom consumer confidence. Faced with these tough challenges, the Chinese government has made significant changes to its real estate policies this year. But it will not be a smooth road ahead to drive the transformation of the ailing sector.
People visit a traditional Spring Festival flower market in Guangzhou, Guangdong province, China, on 20 January 2023. (AFP)

China and the world renew economic ties post-pandemic

As economic activities pick up in China after the country lifted its strict Covid-19 control measures, foreign businesses are raring to return to the world’s second-largest economy. However, they remain hesitant due to the long time away and geopolitical considerations. Zaobao associate editor Han Yong Hong finds out if China can easily rebuild its economic ties with foreign businesses and the outside world.
Chinese RMB banknotes are seen behind an illuminated stock graph in this illustration taken on 10 February 2020. (Dado Ruvic/Illustration/File Photo/Reuters)

What’s in store for RMB internationalisation in 2023?

The RMB is now one of the most actively traded currencies in the world and is set to gain further traction globally this year, as the People’s Bank of China implements the government’s strategy to boost the currency’s use overseas, challenging the dominance of the US dollar in the long term.
A Tesla electric vehicle is seen through a charging point displayed during a media day for the Auto Shanghai show in Shanghai, China, 20 April 2021. (Aly Song/File Photo/Reuters)

Chinese EV manufacturers face tough challenge against Tesla amid subsidy cuts

Despite a booming electric vehicle (EV) market in China, local EV manufacturers are facing a tough road ahead as the Chinese government cuts subsidies and EV giant Tesla increases its competitiveness by lowering prices. Chinese financial commentator Tan Haojun believes that Chinese EV manufacturers would need to compete in terms of research and development in order to stay in the EV market.
Visitors walk past the Casino Lisboa during Lunar New Year in Macau, China, 24 January 2023. (Lam Yik/Reuters)

Can Macau’s economy move beyond the gambling and gaming industry?

Gambling and casino-hopping have long been Macau's calling card. Lianhe Zaobao’s China Desk looks into what else Macau has to offer, and how the local government is trying to wean its economy off the gaming industry, especially given mainland China’s clampdown on illegal gambling.
Signage at the Alibaba office in Beijing, China, on 17 January 2023. (Bloomberg)

Will Beijing truly 'reconcile' with Chinese private enterprises in 2023?

Verbal sparring by Chinese internet opinion makers seem to suggest that the winds are blowing in favour of private firms at the moment. But will officials be able to walk the talk in their quest to use the private sector to drive China’s economic growth?
An electronic board shows Shanghai and Shenzhen stock indexes, at the Lujiazui financial district, in Shanghai, China, 25 October 2022. (Aly Song/File Photo/Reuters)

China boots record number of companies from its bourses

Regulators are ramping up efforts to cull poorly performing firms and those that violate the rules or break the law. A record number of companies got the boot from Chinese mainland stock exchanges last year, and that number could even double in 2023.