Beijing is repositioning the private sector as the cornerstone of China’s global competitiveness and technological edge in the face of growing geopolitical and economic headwinds, according to analysts’ assessments following President Xi Jinping’s meeting with prominent entrepreneurs. Observers also emphasised the importance of more stimulus and policy reforms to get the ball rolling. The first…
Catch up on some of SCMP’s biggest China and economy stories of the day. If you would like to see more of our reporting, please consider subscribing. 1. China calls for all stakeholders to be part of Ukraine peace talks Beijing welcomed the coming peace talks on ending Russia’s war in Ukraine initiated by the…
By Ernest Scheyder and Lewis Jackson (Reuters) – A Chinese company has stopped exporting a piece of equipment used to process the electric vehicle battery metal lithium, in the clearest sign yet manufacturers are already implementing export controls proposed by Beijing. Jiangsu Jiuwu Hi-Tech told customers last month it would stop exporting a piece of…
One day after a high-profile symposium hosted by President Xi Jinping and attended by China’s leading entrepreneurs, Beijing has unveiled new measures in support of the private sector – an act the president explicitly backed in his speech. Legislation to promote the private economy is also set for a second review later this month, both…
Chinese state news agency Xinhua said it would deepen cooperation with Japan’s Kyodo News as Beijing aimed to create a “favourable public opinion environment” for Sino-Japanese ties. Xinhua’s president Fu Hua met his Kyodo counterpart Toru Mizutani in Tokyo on Monday. Fu said Beijing was willing to “further strengthen exchanges and cooperation” between China’s official…
Chinese leader Xi Jinping met with the country’s top tech leaders, signaling support for the private sector. China has cracked down on Big Tech in recent years as it prioritized national security over private sector profit-making priorities. Chinese tech shares rallied after Xi acknowledged the importance and contributions of the private sector. Chinese leader Xi…
When President Xi Jinping brought together China’s most prominent entrepreneurs for a high-profile symposium, markets and industry observers the world over were watching. News of the symposium had garnered a great deal of attention, as such a meeting had not taken place since late 2018. In the years after that gathering, a series of seismic…
HONG KONG (AP) — Shares in Asia were mostly up Tuesday, with Chinese technology stocks surging after Chinese President Xi Jinping met with entrepreneurs this week in what is seen as a show of support to the technology industry. Hong Kong’s Hang Seng rose 1.64% to 22,986.88, while the Shanghai Composite added 0.15% to 3,360.95….
Beijing welcomed the coming peace talks on ending Russia’s war in Ukraine initiated by the United States, China’s top envoy to the United Nations said on Monday, adding that “all stakeholders” should be involved. Ambassador Fu Cong’s remarks came as senior American and Russian officials were scheduled to meet on Tuesday in Saudi Arabia seeking…
Hong Kong will attract about 840,000 visitors and HK$3.3 billion (US$424.1 million) worth of spending in the first half of the year thanks to mega-events, the city’s leader has said, while also vowing to tap national development opportunities. Chief Executive John Lee Ka-chiu said on Tuesday that the line-up of mega-events being held in the…