Economy

People cross an intersection in the Central business district of Hong Kong, China, on 27 February 2024. (Peter Parks/AFP)

Is the Hong Kong economy really in demise?

While naysayers have painted a doomsday scenario for Hong Kong since the plummeting of the Hang Seng Index, EAI senior research fellow Yu Hong points to Hong Kong’s strong fundamentals, the vitality of the Greater Bay Area and the knock-on effects of the recovery of the mainland economy. He notes that as long as the mainland economy continues to grow, the Hong Kong stock market will remain attractive to regional and global investors.
People walk along a shopping street in Beijing on 28 February 2024. (Wang Zhao/AFP)

Can China achieve its 5% growth target in 2024?

Given the current challenges to China’s economy, such as the soft property market and weak domestic demand, how achievable is China’s growth target of 5% for this year? Lianhe Zaobao correspondent Chen Jing tells us more.
Residential buildings under construction by Chinese real estate developer Vanke in Hangzhou, Zhejiang province, China, on 15 March 2024. (AFP)

Chinese property giant Vanke seeks more time to repay debts as market slump lingers

Chinese property giant Vanke has avoided defaulting on its publicly traded bonds so far even during the prolonged market crisis. But its balance sheet has been weakened by falling sales of new homes and fragile market sentiment, and it has resorted to offloading assets to repay its debts on time.
A man poses for a picture while visiting the Bund promenade along the Huangpu river in Shanghai, China, on 13 February 2024. (Hector Retamal/AFP)

China's private entrepreneurs labelled 'unpatriotic' by netizens

Lianhe Zaobao correspondent Yang Danxu notes that the recent public outcry against the heads of two prominent private enterprises for apparent transgressions in the name of “patriotism” does not bode well for the authorities’ efforts in support of the private sector.
People walk by the New York Stock Exchange (NYSE) on 6 March 2024 in New York City. (Spencer Platt/AFP)

US economy continues to lead the world

Not only did the US manage to stave off a decline in 2023, it even achieved an annual GDP growth of 2.5%, with its stock market soaring to an all-time high. Commentator Jin Jian Guo notes that the history of the development of the US economy proves how crucial the entrepreneurial spirit is for an economy, helping the US keep its spot as the leading economy in the world.
Visitors view a BYD Dolphin EV car at a BYD show room in Bangkok, Thailand, on 17 January 2024. (Athit Perawongmetha/Reuters)

'Made in Thailand' Chinese EVs could fill the auto market

Japanese academic Sukegawa Seiya notes that with the ASEAN-China Free Trade Agreement and the Thai government’s aggressive promotion policies, the Thai auto market and even the global auto market could soon be filled with China EV brands that are made in Thailand.
People ride rickshaws, locally known as "cyclo", along a street near the the Independence Monument in Phnom Penh, Cambodia on 16 February 2024. (Tang Chhin Sothy/AFP)

BRI's Funan Techo Canal could steer Cambodia away from Vietnam and towards China

Cambodia’s push to build Techo Canal, a waterway linking the Phnom Penh Autonomous Port to its coastal province Kep, means cargo ships may bypass the Vietnamese port of Cai Mep. Cambodian commentator Sokvy Rim weighs up the impacts of such a prospect.
People walk at a shopping mall in Beijing, China, on 16 January 2024. (Pedro Pardo/AFP)

Xiaohongshu’s push to make users spend on its platform

Launched in 2013 as a place for users to share things like travel and beauty tips, and acting as a conduit for lifestyle reviews, Xiaohongshu is again reshuffling its e-commerce ventures, hoping to transform into an e-commerce platform.
Chinese President Xi Jinping (left) and Premier Li Qiang arrive for the opening session of the National People's Congress (NPC) at the Great Hall of the People in Beijing on 5 March 2024. (Pedro Pardo/AFP)

China’s political black box has become even more opaque

Commentator Chen Kuohsiang says that China’s politics have become even more opaque and rigid since the announcement that the premier’s press conference will no longer be held at the end of the National People’s Congress. With no room left to express personal will or position, the Chinese premier has been reduced to the general secretary’s political implementer.