Economy

Singapore's Deputy Prime Minister Heng Swee Keat (left) with Chinese Vice-Premier Han Zheng at the Diaoyutai State Guesthouse in Beijing, China, on 22 May 2019, at the start of his week-long visit to China. (Ministry of Communications and Information)

Heng Swee Keat: Singapore and China will build better future for region and the world

Ahead of the 18th Joint Council for Bilateral Cooperation (JCBC) meetings between Singapore and China — the first to be held in person since the outbreak of the pandemic — Singapore’s Deputy Prime Minister and Coordinating Minister for Economic Policies Heng Swee Keat sets out a few priorities in taking Singapore-China relations to new heights.
People walk along a pedestrian street surrounded by shops and shopping malls in Shanghai on 24 October 2022. (Hector Retamal/AFP)

Little certainty: A ‘new era’ for China’s economy

Zaobao correspondent Chen Jing notes that market confidence is still shaken after the 20th Party Congress, and there is little clarity on how the new team will realise China’s hopes of achieving high-quality development while zero-Covid measures remain in place.
People at a subway station in Singapore, 12 October 2022. (SPH Media)

Singapore and Hong Kong: Collaborators, not competitors

Professor Bernard Yeung of NUS says one should not take reports of Singapore overtaking Hong Kong in a set of global financial centre rankings at face value. Pendulum swings in politics and economics will drive future movements, and it may be most productive to think of how the two most important financial centres in Asia can work together to serve the economies of East and West.
Chinese flags along a street in Beijing on 12 October 2022, ahead of the 20th Communist Party Congress meeting. (Wang Zhao/AFP)

Ten years of political intervention: China’s economy at a crossroads

With the 20th Party Congress just days away, Zaobao correspondent Chen Jing looks at the government’s economic policies and actions over the past decade, including its cleanup of the technology and education sectors, and pandemic lockdowns. How has the party responded, and what impact has there been on the people?
A worker walks on a scaffolding at a construction site of an apartment building under refurbishment in Beijing, China, 20 July 2022. (Thomas Peter/Reuters)

Export slowdown reveals cracks in one of China’s economic pillars

With China’s economy already facing drags from consumer spending and the real estate sector, the slowdown in goods exports poses a significant problem as they make up a sizeable share of the country's GDP. Will Beijing reconsider some of the policies such as its zero-Covid policy, tech sector crackdown, and restrictions on real estate?
Pedestrians in the Pudong's Lujiazui Financial District in Shanghai, China, on 10 October 2022. (Qilai Shen/Bloomberg)

Large population no longer an asset to China's long-term growth

Chinese academic Han Heyuan notes that while China is claiming that its economic growth outlook remains healthy, the signs are there that changes to its population would also mean changes to its economic growth. Other factors such as dependence on overseas markets would also come into play.
Workers at a construction site for the World Expo Cultural Park in Shanghai, China, on 27 September 2022. (Qilai Shen/Bloomberg)

China's slowing economy will not deter BRI outreach

Despite challenges arising from the slowing Chinese economy, China is likely to continue pushing forward on the BRI, it being a key plank of President Xi Jinping’s foreign policy. Along the way, however, it will have to make certain adjustments for a smooth transition into BRI 2.0.
A farmer picks ears of rice left over by a paddy harvester as the region experiences a drought outside Jiujiang city, Jiangxi province, China, 27 August 2022. (Thomas Peter/Reuters)

Chinese netizens debate: Should China abandon the market economy for a ‘people-oriented’ economy?

Chinese agricultural economist Wen Tiejun has landed in hot water after proposing the concept of a “people-oriented” economy. Critics believe that this is moving away from China’s reform and opening up, while others see the benefits towards common prosperity. Zaobao correspondent Yu Zeyuan tells us more about the maelstrom of controversy ahead of the 20th Party Congress.
A worker pushes a trolley along a road outside a construction site at the central business district in Beijing, China, on 8 July 2022. (Wang Zhao/AFP)

Has China’s monetary policy reached its limit?

China's central bank is scrambling to increase demand for borrowing by using nearly every instrument in its toolbox. But the impact has so far been limited, as Chinese companies and households are trapped in a crisis of confidence in the economy amid slowing growth and the impact of strict anti-Covid measures. What more can China do to save the economy?