China update

China’s Inner Mongolia seeks to avoid economic, security impact of ‘hollowing out’ amid population pressure

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China’s northern Inner Mongolia autonomous region would prioritise addressing the “hollowing out” of its border areas amid population concerns that could hinder its economic development and add to security risks. “Inner Mongolia … has more than 4,000km (2,485 miles) of borderline, shouldering a major political responsibility in safeguarding national security and border peace,” said Wang … Read more

China’s ‘two sessions’ 2024: focus on work-life balance urged to stop workers being trapped by ‘invisible overtime’

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China should improve protection for workers from “invisible overtime”, according to policy advisers and lawmakers at the ongoing “two sessions” in Beijing, with the world’s second-largest economy particularly struggling against high youth employment. Chinese People’s Political Consultative Conference delegate Lyu Guoquan, who is the director of the general office of China’s trade union federation, has … Read more

China’s ‘two sessions’ 2024: economic heavyweights face press on ambitious 5% GDP growth target

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This story has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing in our spring flash sale. China’s finance and commerce ministers, as well as the heads of the People’s Bank of China, National Development and Reform Commission and China Securities Regulatory Commission, face the press … Read more

‘Two sessions’ 2024: Xi Jinping says while China pursues ‘new productive forces’, it must avoid economic bubbles

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He also noted that “promoting new productive forces doesn’t mean neglecting or giving up traditional industries”. 02:40 Chinese Premier Li Qiang delivers his first work report amid concerns about state of the economy Chinese Premier Li Qiang delivers his first work report amid concerns about state of the economy Beijing is devoted to upgrading China’s … Read more

China’s ‘two sessions’ 2024: legislature hammers home pro-business stance, says nation’s door is ‘always open to world’

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A new law promoting the private sector is being crafted to tailor legislation to the most pressing needs of the key sector. China’s door is always open to the world, and we will never slam it shutLou Qinjian, NPC spokesman The top legislature is also set to review the first amendment to the Organic Law … Read more

China’s ‘two sessions’ 2024: doubling tax-free allowance will ‘dare people to spend’, delegate say

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A proposal to double China’s tax-free allowance to 10,000 yuan (US$1,389) per month would “dare people to spend”, according to delegates at the ongoing “two sessions”, with boosting consumption seen as “key to a sustained economic rebound” this year. National People’s Congress (NPC) delegate Zhang Xuewu, who is chairman of snack giant Yanker Shop Food, … Read more

China’s ‘two sessions’ 2024: ‘blind investments’ in digital economy could be harmful, delegate says

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Local governments should focus on finding a competitive edge in specific sectors of the digital economy, instead of “blindly” jumping in, as China aims to find new growth points to counter pressure from the United States, according to a proposal from an economic adviser. Lu Ming, director of Shanghai Institute for National Economy, said many … Read more

Global Impact: China’s ‘two sessions’ rolls around at decisive moment for the world’s second-largest economy

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Since last year, Beijing has been engaged in an all-out effort to revive its economy. It has taken a number of steps to restore confidence, establishing a dedicated private economy bureau among other measures. However, based on important economic indicators – China’s annual foreign direct investment has sunk to a 30-year low and its consumer … Read more

China’s 1 trillion yuan EV, solar and battery exports face overcapacity concerns as US, EU anxieties grow

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China’s 1 trillion yuan (US$139 billion) exports of electric vehicles, lithium batteries and solar cells could face a new round of challenges this year, as Western policymakers have reflected “genuine anxieties” about overcapacity distorting their markets. Legal action and tariff increases by the United States and European Union against a perceived oversupply of cheap products … Read more

China-Australia relations: winemakers up Hong Kong shipments ‘hoping the door will open’ as Beijing ponders lifting tariffs

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03:01 China-Australia relations ‘on the right path’, Xi Jinping tells Anthony Albanese on Beijing visit China-Australia relations ‘on the right path’, Xi Jinping tells Anthony Albanese on Beijing visit A diplomatic confrontation over a suspended death sentence given by a Chinese court to an Australian writer should not imperil progress on trade, Australia’s trade minister … Read more