Private enterprise

A person works at a residential building construction site in Beijing, China, on 6 September 2023. (Tingshu Wang/Reuters)

Chinese property market: Second wind or brief respite?

Over the last two years, the Chinese property market suffered a downturn and this has had a knock-on effect on the country’s economy. In recent weeks, the government has loosened restrictions and rolled out policies to make it easier for the public to buy houses and to boost property sales. Is this a turning point for the Chinese property market? Will the government’s mantra that “houses are for living in, not speculation” take a back seat henceforth? Zaobao correspondent Yu Zeyuan reports.
People ride elevators at a shopping street in Beijing, China, on 16 June 2023. (Florence Lo/Reuters)

Crisis of trust underlies Chinese private sector's unwillingness to invest

Erratic and unreasonable governance of local governments and a shift in public opinion towards left-wing ideology are just some of the causes for the private sector’s lack of confidence in China, says academic Han Heyuan. Even with the latest measures to boost the sector, government efforts seem to fall short of expectations.
People wait for traffic lights at the central business district in Beijing, China, on 23 July 2023. (Jade Gao/AFP)

Why are private enterprises reluctant to invest in China?

China’s return to being politics-centric is the fundamental cause for the private sector’s reluctance to invest in the country and the slow growth in the Chinese economy. Economist Chen Kang gives his analysis.
People walk in a shopping district in Beijing, China, 14 July 2023. (Thomas Peter/Reuters)

China needs a new model of economic development to revive the economy

Over the past four decades, China’s economic growth has been mainly driven externally by exports and internally by investments. But China can no longer count on exports to drive economic growth. Thus, the country is seeking to boost domestic demand. Academic Gu Qingyang shares that China needs a multi-prong approach, which would require a significant transformation of the economy.
People ride past residential buildings developed by Country Garden Holdings Co. in Baoding, Hebei province, China, 1 August 2023. (Qilai Shen/Bloomberg)

China’s property crisis contagion spreads to state-backed developers

With sluggish sales, a growing list of unfinished projects and mounting debt repayments, China's property crisis, which is stretching into its third year, is now spreading to state-owned developers.
Signage for Tencent Holdings Ltd. and Alibaba Group Holding Ltd. at the World Artificial Intelligence Conference in Shanghai, China, on 8 July 2023. (Qilai Shen/Bloomberg)

Chinese platform economy gets vote of confidence from government

China is focusing its attention on building a regulated platform economy that can drive the country’s economic recovery. That was the message from Chinese Premier Li Qiang to platform companies during a session on 12 July. How will platform companies respond? Lianhe Zaobao correspondent Chen Jing looks into the recent development.
Hong Kong tycoon Li Ka-shing, chairman of CK Hutchison Holdings, meets journalists as he formally retires after the company's Annual General Meeting in Hong Kong, China, on 10 May 2018. (Bobby Yip/Reuters)

All eyes are still on retired Hong Kong tycoon Li Ka-shing

Even after announcing his retirement in 2018, Hong Kong business magnate Li Ka-shing is still making headlines. From the introduction of his granddaughter to the family businesses to the recent divestments of his companies from the UK and Europe, recent developments have led analysts and the public to speculate on mainland China’s economic conditions and whether Li could make a comeback. Lianhe Zaobao’s China Desk delves into the recent developments surrounding Hong Kong’s “Superman”.
Pedestrians along an elevated walkway as an electronic ticker displays stock figures in Pudong's Lujiazui Financial District in Shanghai, China, on 26 May 2023. (Qilai Shen/Bloomberg)

China’s consumers flush with cash, but recovery is still lagging

A swathe of negative economic data for April, which included the manufacturing sector unexpectedly contracting and retail sales missing forecasts, indicate that China's recovery remains lopsided. It’s not a question of whether there is enough money being pumped into the economy to fuel the recovery, but instead where that money is going and why people aren’t availing themselves of more credit?
Alibaba founder Jack Ma visits Hangzhou Yungu School in Hangzhou, Zhejiang province, China in this handout picture released on 27 March 2023. (Hangzhou Yungu School/Handout via Reuters)

Jack Ma has returned but Chinese entrepreneurs will still have a hard time

Jack Ma’s recent return to China has made waves and offers some hope for the revival of the entrepreneur class in China. But this group of people have never shaken off their dual identity as entrepreneur-capitalists. With the rise of a group of diehards romanticising the glory of past eras, entrepreneurs, and in turn the development of China’s market economy, face obstacles.