4 d. ago China becomes bright spot at uncertain time: SCMP’s ‘Summer Davos’ highlights

For those attending the World Economic Forum’s Annual Meeting of the New Champions this week, “uncertainty” was the inescapable word. It could be found on the lips of almost everyone; senior Chinese officials, global executives, foreign academics and thought leaders from all fields. This should not come as a surprise. Simmering regional tensions, unpredictable policy pivots from Washington and a foggy picture for global trade were all top of mind as speakers and panelists gathered in the...

Politics

4 d. ago ‘Summer Davos’ debate: is China’s yuan ready to challenge US dollar dominance?

As global confidence in the US dollar erodes in the wake of Washington’s “Liberation Day” tariffs, economists at the Annual Meeting of the New Champions debated whether China’s yuan could emerge as a credible alternative to challenge the world’s dominant currency. US President Donald Trump’s sweeping “reciprocal tariffs” on allies and adversaries alike marked “another step in the process of diminishing the role of the dollar as a global reserve currency,” said Diana Choyleva, senior fellow of...

Politics

4 d. ago Dollar is ‘America’s to lose’: experts argue at ‘Summer Davos’ amid yuan push

As global confidence in the US dollar erodes in the wake of Washington’s “Liberation Day” tariffs, economists at the Annual Meeting of the New Champions debated whether China’s yuan could emerge as a credible alternative to challenge the world’s dominant currency. US President Donald Trump’s sweeping “reciprocal tariffs” on allies and adversaries alike marked “another step in the process of diminishing the role of the dollar as a global reserve currency,” said Diana Choyleva, senior fellow of...

Politics

5 d. ago China’s firms must integrate to succeed abroad, executives say at ‘Summer Davos’

Chinese companies should relocate their entire manufacturing ecosystems – rather than just completing the assembly of goods in another country – to solidify their overseas expansions, industry insiders said during the Annual Meeting of the New Champions in Tianjin. With uncertainty over global trade on the rise in the second term of US President Donald Trump, Chinese companies will look to strengthen the resilience of their supply chain by building factories in new markets, either for export or...

Politics

5 d. ago ‘Summer Davos’ calls for China’s firms to move manufacturing abroad for success

Chinese companies should relocate their entire manufacturing ecosystems – rather than just completing the assembly of goods in another country – to solidify their overseas expansions, industry insiders said during the Annual Meeting of the New Champions in Tianjin. With uncertainty over global trade on the rise in the second term of US President Donald Trump, Chinese companies will look to strengthen the resilience of their supply chain by building factories in new markets, either for export or...

Economics

5 d. ago ‘Summer Davos’ 2025: Live updates from Day 3 as China’s economy and AI strategy take centre stage

‘Summer Davos’ 2025: Live updates from Day 3 as China’s economy and AI strategy take centre stage  The World Economic Forum

Politics

5 d. ago Day 3 at ‘Summer Davos’ 2025: China’s economy and AI strategy

Day 3 at ‘Summer Davos’ 2025: China’s economy and AI strategy  The World Economic Forum

Politics

6 d. ago Xi may skip Brics, Li Qiang’s speech at ‘Summer Davos’: 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. In a first, Xi will miss Brics in Rio as Li leads China delegation: sources Chinese President Xi Jinping will not attend next week’s Brics summit in Rio de Janeiro, marking his first-ever absence from the gathering of leading emerging economies, the Post learned from multiple sources. 2. White House clarifies Trump’s comment on China buying Iranian oil US...

Politics

6 d. ago Hong Kong’s strengths in bridging East and West amid trade war: finance chief

Hong Kong’s finance minister has dismissed concerns that foreigners are avoiding the city because of its strong connections to the mainland Chinese market amid the trade war, saying that investors are showing their confidence with their capital. At the “Summer Davos” forum on Wednesday, Financial Secretary Paul Chan Mo-po said Hong Kong’s strengths lay in giving investors priority access to the mainland market while helping businesses across the border to go global and diversify their supply...

Events

6 d. ago Hong Kong’s strengths lie in bridging East, West amid trade war: finance chief

Hong Kong’s finance minister has dismissed concerns that foreigners are avoiding the city because of its strong connections to the mainland Chinese market amid the trade war, saying that investors are showing their confidence with their capital. At the “Summer Davos” forum on Wednesday, Financial Secretary Paul Chan Mo-po said Hong Kong’s strengths lay in giving investors priority access to the mainland market while helping businesses across the border to go global and diversify their supply...

Events

6 d. ago Not just manufacturing: Li Qiang vows China will be major consumption power

Premier Li Qiang has pledged that China will become a “consumption powerhouse” capable of fuelling domestic and global growth, even as he acknowledged the country was grappling with a slump in cross-border investment and persistent trade tensions. Speaking at the World Economic Forum’s annual meeting in Tianjin on Wednesday, Li reiterated Beijing’s commitment to boosting demand in the world’s second-largest economy and defending globalisation. “This will make China a mega-sized consumption...

Politics

6 d. ago Financial Secretary Paul Chan Attends Summer Davos and AIIB Gala in Tianjin and Beijing

Financial Secretary Paul Chan Attends Summer Davos and AIIB Gala in Tianjin and Beijing  bastillepost.com

Politics

6 d. ago US tariffs not only killing trade, but chilling investment, leaders warn

Uncertainties created by the United States’ tariff blitz are not only disrupting global supply chains, but also causing investors to delay decisions, entrepreneurs and policymakers said at the “Summer Davos” forum. The warning at the annual gathering, which kicked off in the northern Chinese city of Tianjin on Tuesday, came as the trade war continued to cast a chill over the global economy, with US President Donald Trump threatening to reimpose tariffs on dozens of countries within...

Events

6 d. ago China’s Li Qiang gives ‘Summer Davos’ keynote in tense global atmosphere

This live blog has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. Get faster notifications on the latest updates by downloading our app. Chinese Premier Li Qiang is scheduled to give the keynote speech at the Annual Meeting of the New Champions, also known as “Summer Davos”, in the northern port city of Tianjin on Wednesday morning. The world’s second-largest economy has largely withstood the tariff war launched by US...

Politics

6 d. ago Li Qiang pledges to make China ‘massive’ consumer market to drive global growth

This live blog has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. Get faster notifications on the latest updates by downloading our app. Chinese Premier Li Qiang is scheduled to give the keynote speech at the Annual Meeting of the New Champions, also known as “Summer Davos”, in the northern port city of Tianjin on Wednesday morning. The world’s second-largest economy has largely withstood the tariff war launched by US...

Politics

6 d. ago Li Qiang says China will be consumption power at ‘Summer Davos’: as it happened

This live blog has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. Get faster notifications on the latest updates by downloading our app. Chinese Premier Li Qiang gave the keynote speech at the Annual Meeting of the New Champions, also known as “Summer Davos”, in the northern port city of Tianjin on Wednesday morning. The world’s second-largest economy has largely withstood the tariff war launched by US President Donald...

Politics

6 d. ago World Economic Forum: Turmoil and trade wars dominate 'summer Davos'

World Economic Forum: Turmoil and trade wars dominate 'summer Davos'  BBC

Economics

6 d. ago ‘Summer Davos’ panel mulls US economy secret sauce: did China crack the recipe?

The American economy has outperformed others by relying on a sort of secret, magic “sauce”, but Washington’s tariff and immigration policies are threatening to shift the outlook, according to leading US scholars attending the “Summer Davos” in China. At the gathering, formally known as the World Economic Forum’s 16th Annual Meeting of the New Champions, they collectively took stock of the US economy and debated whether it would be China or the US that most advances the frontier of tech and...

Society

7 d. ago China’s yuan set to benefit as central banks report doubts about US dollar

Central banks are showing more interest in the Chinese yuan as doubts grow about the future of the US dollar, but this shift is not enough to challenge the greenback’s dominance in global reserves, according to a new survey. In its latest Global Public Investor poll released on Tuesday, the London-based Official Monetary and Financial Institutions Forum (OMFIF) said a net 14 per cent of reserve managers plan to increase their yuan exposure in the next two years, up sharply from the 2 per cent...

Politics

1 week ago Why critics of the Hong Kong dollar peg are getting it wrong

In financial markets, the Hong Kong dollar is known as a “widow-maker”, a ruinous trade that inflicts painful losses on successive generations of investors. While betting against Japanese government bonds has been the most notorious widow-maker trade, challenges to Hong Kong’s currency peg to the US dollar date back to the 1997-98 Asian financial crisis and continue to attract speculators even though the trade has yet to pay off. As recently as May 5, the Hong Kong dollar – which has been pegged...

Politics