State-owned enterprise

People ride on a scooter past residential buildings under construction in Beijing, China, on 6 September 2023. (Tingshu Wang/Reuters)

China’s trillion-dollar local government ‘hidden debt’ dilemma

As China’s financial system remains plagued by trillions of dollars in local governments’ hidden debt, policy makers may need to take drastic measures to solve the problem.
A man stands by as a fire rages in a livestock market area in al-Fasher, the capital of Sudan's North Darfur state on 1 September 2023, in the aftermath of bombardment by the paramilitary Rapid Support Forces. (AFP)

China’s African ambition comes with mounting challenges

The recent 15th BRICS summit held in South Africa heralded an expanded organisation with new African members. While China seeks to increase its presence and influence on the African continent, it also faces the difficult task of juggling security and development, particularly given that Russia is likewise adamant about safeguarding and expanding its own interests in the area.
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.
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.
The ZTE logo and a sign for 5G are seen at the World 5G Exhibition in Beijing, China, 22 November 2019. (Jason Lee/File Photo/Reuters)

US sanctions forcing Chinese firms to switch to made-in-China tech

According to a development plan for China’s software and information technology (IT) service industry from 2021 to 2025, China is expected to significantly expand its capacity for developing key software and build two to three open-source communities with international influence by 2025. Meanwhile, China’s giant state-owned enterprises are also rushing to crank up domestic purchases of innovative IT applications under government pressure.
A deserted road in the central business district in Beijing, China, on 29 November 2022. (Bloomberg)

China is facing a harsh economic winter

Commentator Chen Kuohsiang notes that even after the 20th Party Congress and talks between Chinese and US Presidents Xi Jinping and Joe Biden during the G20 summit, the Chinese economy is not facing an easy time, not least because of Covid-19 controls, the US's trade restrictions and China's stringent policy on private enterprises.
Cooperatives seem to be making a return in China, like this one in Heilongjiang. (Internet)

Cooperatives are making a comeback. Is China preparing for combat and famine?

Cooperatives that used to manage agricultural and other daily resources in China faded away during China's reform and opening up, but recently, they were highlighted again by the state media and promoted in various regions. Chinese people are concerned if this means that the government is going to further tighten its grip on the economy or that China is preparing for the likelihood of containment and even war?
A screen showing a video of Chinese President Xi Jinping in an exhibition area at the Siasun Co. facility in the Lingang Special Area in Shanghai, China, on 25 August 2022. (Qilai Shen/Bloomberg)

A new breed of technocratic elites in the Xi era: Countdown to the 20th Party Congress

Li Cheng, director of the John L. Thornton China Center of the Brookings Institution, observes that a new breed of technocratic elites — the “technocrats 2.0” — have rapidly risen to the national leadership in China. What are the major differences between technocrats in the Jiang-Hu eras and the Xi era?
Men work at a construction site of apartment buildings in Beijing, China, 15 July 2022. (Thomas Peter/Reuters)

Can SOEs' property buying spree save China's ailing property market?

Recent news of a large-scale housing project acquisition by a state-owned enterprise (SOE) has gained widespread attention. While some are welcoming the government’s efforts to revive the sluggish property market, others are wary of profiteering and corruption opportunities. Zaobao correspondent Chen Jing takes a look at the implications of the SOE’s move and whether China’s property market will finally look up.