18 h. ago China women pay US$14 to relax with charming men who take them on luxury car rides

Young women in southern China are spending 99 yuan (US$14) to relax with fit, handsome men who treat them to luxury car rides after work. According to the mainland media outlet Vista Hydrogen Business, a new trend called “city ride” is gaining traction in cities like Shanghai, Hangzhou, and Xiamen. This service features so-called “man bodhisattvas,” who provide companionship rides in expensive vehicles. These men are often affluent university students who use their families’ luxury cars during...

Economics

40 h. ago Dollar, yuan steady after US, China reach framework deal to ease export curbs

Dollar, yuan steady after US, China reach framework deal to ease export curbs  Reuters

Economics

3 d. ago Kenneth Rogoff and Yu Yongding on Trump, the dollar and the rise of the yuan

Welcome to Open Dialogue, a new series from the Post where we bring together leading voices to discuss the stories and subjects occupying international headlines. In this inaugural edition, we invited prominent economists from both sides of the Pacific to reflect on the recent turmoil in global trade, the diminishing role of the US dollar and whether China’s yuan could – or should – take its place. Professor Kenneth Rogoff of Harvard University has repeatedly warned the US dollar is approaching...

Politics

3 d. ago Is the US dollar’s decline inevitable? Kenneth Rogoff and Yu Yongding weigh in

Welcome to Open Dialogue, a new series from the Post where we bring together leading voices to discuss the stories and subjects occupying international headlines. In this inaugural edition, we invited prominent economists from both sides of the Pacific to reflect on the recent turmoil in global trade, the diminishing role of the US dollar and whether China’s yuan could – or should – take its place. Professor Kenneth Rogoff of Harvard University has repeatedly warned the US dollar is approaching...

Politics

6 d. ago DeepSeek is hiring interns to label medical data for AI use in hospitals

Chinese artificial intelligence (AI) start-up DeepSeek, which has remained mute over a release date for its R2 reasoning model, has begun recruiting interns to label medical data to improve the use of AI in hospitals. According to recruitment ads posted on Boss Zhipin, one of China’s largest hiring websites, DeepSeek is offering 500 yuan (US$70) per day for interns who can work four days a week to label medical data for applications involving “advanced auxiliary diagnosis” tools. The jobs are...

Science

9 d. ago My Take | Hong Kong’s stablecoin ambitions offer Chinese yuan a way into the crypto world

My Take | Hong Kong’s stablecoin ambitions offer Chinese yuan a way into the crypto world  South China Morning Post

Politics

1 week ago Hong Kong regains favour with investors, companies: Deutsche Bank

Hong Kong’s corporate activity and yuan-driven business have been revitalised as global market participants strengthen ties to China’s economy amid tariffs and geopolitical tensions, according to a senior executive at Deutsche Bank. Companies and investors have increased their exposure to China and hedged against the US dollar as they adjusted their supply chains and portfolios amid market volatility, said Ole Matthiessen, head of corporate banking for Asia-Pacific, Middle East and Africa,...

Economics

1 week ago Is Asia ditching the dollar? China’s yuan, gold, and bitcoin drive trade shifts

A growing number of Asian economies are cautiously moving away from the US dollar by creating alternative trade agreements and increasing their investments in assets such as gold and digital currencies – a trend that analysts say signals a longer-term shift toward a more multipolar monetary system. A recent study by foreign exchange platform Forex Complex pointed to three primary indicators of de-dollarisation: a reduced share of US dollars in national reserves, a rise in gold’s share, and...

Politics

2 w. ago China's Yuan Faces Slight Dip Against Strengthening US Dollar

China's Yuan Faces Slight Dip Against Strengthening US Dollar  Finimize

Politics

2 w. ago China Seeks to Slow Yuan’s Gains After Months of Propping It Up

China Seeks to Slow Yuan’s Gains After Months of Propping It Up  Bloomberg.com

Politics

2 w. ago Will US dollar doubts, risk of ‘triple whammy’ give rise to yuan’s renaissance?

As the United States faces renewed concern over unsustainable debts and its deficit outlook, ignited by the “One Big Beautiful Bill Act” and new tariff threats from US President Donald Trump, China’s yuan is being hailed by analysts for its resiliency during the ongoing trade war, with some pointing to a “renaissance of the renminbi”. Concerns over the sustainability of US debt levels intensified after the US House of Representatives last week passed a sweeping tax and spending bill, which is...

Events

2 w. ago China industrial profits grow, Xinjiang eyes travel boom: SCMP daily highlights

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. China’s industrial profits grow in April despite US trade war China’s large industrial enterprises posted modest but accelerating growth in April, despite an unprecedented trade war with the United States that drove up tariffs on both sides and intensified economic uncertainty. 2. China’s Xinjiang woos foreigners for 1 trillion yuan tourism haul amid...

Politics

2 w. ago China’s Xinjiang woos foreigners for 1 trillion yuan tourism haul amid sanctions

China’s Xinjiang woos foreigners for 1 trillion yuan tourism haul amid sanctions  South China Morning Post

Politics

2 w. ago Why China’s yuan needs Hong Kong to reach new international heights

Doubts about the dollar’s supremacy present a unique opportunity to accelerate the yuan’s internationalisation.

Politics

2 w. ago China equips Hong Kong with ‘toolbox’ to propel yuan amid de

China equips Hong Kong with ‘toolbox’ to propel yuan amid de-dollarisation  South China Morning Post

Politics

3 w. ago China’s yuan fit to rival US dollar as global currency if more accessible: economist

‘US exceptionalism is over – the beginning of the end,’ Singapore-based economist warns while weighing in on how China can internationalise its currency.

Politics

4 w. ago Goldman Sachs, UBS raise China economic growth forecasts after US trade truce

Goldman Sachs also lifts US growth forecast by half a percentage point and predicts strengthening of yuan against US dollar.

Economics