Officials across China are avoiding dining out to “play safe”, as the country’s latest austerity drive spirals into an overbearing campaign of excessive control like many similar ones before it. Several officials interviewed said that the lifestyle change, even if temporary, was largely prompted by the ever-shifting local austerity measures, which could be even more…
Hong Kong’s public finances are crumbling. For decades, the city’s fiscal health relied heavily on land sales. Between 2012 and 2022, land sales contributed an average of 14 per cent of government revenue. However, in 2024-25, land sales plunged to just 1 per cent of revenue, or about HK$6.6 billion (US$848 million), a stark contrast…
Catch up on some of SCMP’s biggest China stories of the day. If you would like to see more of our reporting, please consider subscribing. 1. 2,000 tonnes of gold: China says new technology helped find largest deposits Scientists say they have discovered two potentially record-smashing 1,000-tonne gold deposits in central and northeastern China, and…
A retail giant in China is stirring up discussions on social media with controversial new rules that require employees to reject bride prices, forgo extravagant weddings, and avoid depending on their parents for purchasing houses or cars. On November 20, Yu Donglai, founder and chairman of Pang Dong Lai, a retail chain based in central…