SCMP China Business News

The world’s income and wealth inequality is said to have reached an “alarming” level two years into a global pandemic that has killed at least 5.5 million people.The disparity has proved particularly challenging for Asian countries, forcing Beijing, Tokyo, Bangkok…

China has ambitious plans to boost domestic soybean output by 40 per cent over the next four years, as an over-reliance on imports of the commodity continues to raise alarms over the nation’s food security.The country will bolster its oilseed…

China’s largest soybean producing province has taken its first step to boost production in 2022, following Beijing’s recent warning about dependence on imports for a commodity regarded as essential to national food security.The northeastern province of Heilongjiang, which produces about…

China’s move to set up a global force in the strategic rare earth sector could help it pre-empt and respond to future external challenges, including trade tensions with the United States, analysts say.The China Rare Earth Group was formed after…

China’s financial regulators have vowed to better supervise foreign exchange markets while taking a “zero-tolerance” approach to illegal transactions, as the yuan’s exchange rate has recently seen an unusual rally against the US dollar.Meanwhile, the world’s second-largest economy intends to…

While overall income growth among many Chinese has yet to recover from the impact of the pandemic, demand among China’s lower-income groups is likely to remain subdued as pressure grows on the economy.Tina Tang, an administrative secretary at a small-to-medium-sized…

China will join coordinated global efforts to release oil reserves “based on its own needs” with Beijing in communication with other nations who have already laid out details of their plans to tame worldwide market turbulence, the foreign ministry said…

China’s small and medium-sized enterprises (SMEs) have faced a host of challenges since early 2020, ranging from the economic shock of the coronavirus pandemic to surging commodity prices and regulatory challenges.Some of them are crumbling under the pressure, but Beijing’s…

Chinese President Xi Jinping criticised protectionism and unilateralism on Thursday, promising to address concerns about China’s trade practices as the country seeks to join a Pacific Rim trade bloc.“China supports the reform of the World Trade Organization in the right…