7 h. ago China steps up economic monitoring, looking to head off worst

Amid erratic US tariff threats and with the world economy in flux, China’s top economic planner says that more economic monitoring and early-warning capabilities are needed. The National Development and Reform Commission (NDRC) is soliciting studies to assess the impacts of US tariffs and to refine China’s existing monitoring indicators “in the context of global economic and trade order restructuring”. It also plans to evaluate how non-tariff barriers of various countries might impact China’s...

Economics

8 d. ago Trump’s budget bill is a debt bomb. Can the ‘Pennsylvania Plan’ defuse it?

With the US Senate voting to move an updated version of US President Donald Trump’s sweeping budget legislation – the “One Big, Beautiful Bill Act” – forward in the legislative process, the controversial bill now comes closer to becoming law. It has also brought the country’s mounting debt back into the spotlight. Rife with spending increases, tax cuts and no additional revenue sources to compensate, the bill has been estimated to add US$3.3 trillion to the nation’s debt over the next decade; a...

Economics

1 week ago Will Guangdong’s plan for a domestic version of Canton Fair pay off?

Southern China’s Guangdong province will launch a “domestic trade version” of the Canton Fair – the country’s largest import and export fair – to help export-oriented companies tap into the domestic market amid weak external demand and rising global trade uncertainties. The initiative is a key component of a work plan released by the provincial government on Tuesday that aims to strengthen “domestic circulation” – a strategy focused on boosting China’s economic self-reliance by building a robust...

Politics

2 w. ago Facing multiple crises, China is stressing resilient governance over ideology

Chinese President Xi Jinping recently commemorated the 120th birth anniversary of Chen Yun, one of the foundational economic planners of the Communist Party of China. Amid the commemoration’s celebratory tone, Xi’s speech signals a rhetorical shift. The references to communist conviction so prominent in the 2015 address delivered for Chen’s 110th birthday were relatively sparse in Xi’s remarks from earlier this month. Instead, there was polished language relating to development planning and...

Politics

2 w. ago China’s new weapon in rivalry with the US – effective governance under pressure

Chinese President Xi Jinping recently commemorated the 120th birth anniversary of Chen Yun, one of the foundational economic planners of the Communist Party of China. Amid the commemoration’s celebratory tone, Xi’s speech signals a rhetorical shift. The references to communist conviction so prominent in the 2015 address delivered for Chen’s 110th birthday were relatively sparse in Xi’s remarks from earlier this month. Instead, there was polished language relating to development planning and...

Events

2 w. ago Overbite: China urges officials to pull back on dining austerity drive

Leading publications of China’s ruling Communist Party have urged local governments to implement strictures on lavish banquets carefully, an attempt to temper overzealousness amid concerns from the country’s beleaguered food and beverage industry. Qiushi, the party’s theoretical journal, said in a commentary piece on Friday that recent affirmations of the need for frugality in official meals are intended to limit extravagant practices, not ordinary dining. “Some local governments scrutinise...

Politics

2 w. ago China urges officials to rein in overzealous dining austerity measures

Leading publications of China’s ruling Communist Party have urged local governments to implement strictures on lavish banquets carefully, an attempt to temper overzealousness amid concerns from the country’s beleaguered food and beverage industry. Qiushi, the party’s theoretical journal, said in a commentary piece on Friday that recent affirmations of the need for frugality in official meals are intended to limit extravagant practices, not ordinary dining. “Some local governments scrutinise...

Politics

2 w. ago Caught on Flightradar: Did China secretly send weapons to Iran? 3 mysterious cargo planes spark global ala

Caught on Flightradar: Did China secretly send weapons to Iran? 3 mysterious cargo planes spark global ala  The Economic Times

Events

3 w. ago 25% of Hong Kong employers plan to cut staff in next quarter: survey

About 25 per cent of Hong Kong employers plan to cut staff in the next quarter, according to a human resources company’s survey, as the latest government figures showed the city’s unemployment rate reached a 30-month high of 3.5 per cent for March to May. Workforce solutions provider ManpowerGroup Greater China released its latest employment outlook survey on Tuesday, with about 33 per cent of the 522 employers polled saying they expected to hire more personnel in the next three months. About 25...

Politics

3 w. ago Hong Kong businesses, social groups create platform to plan for ‘silver economy’

Hong Kong businesses, social groups, a major bank and a think tank have jointly set up a platform to devise initiatives to make the city more elderly-friendly through the nurturing of a “silver economy”. The Alliance of Silver Economy Development was launched on Tuesday and aims to encourage collaboration between companies and social organisations. Alliance convenor and lawmaker Chan Hok-fung said local stakeholders had yet to come together to align and implement silver economy strategies, with...

Economics

3 w. ago Hong Kong trade body plans 2026 conference to entice Gulf states

The Hong Kong Trade Development Council (HKTDC) plans to host a conference next year to foster collaboration with Gulf states, the body’s new head has said, adding that US President Donald Trump’s unpredictable policies could result in further changes to its export projections. Frederick Ma Si-hang, who took office on June 1, also said on Sunday that the council was exploring the feasibility of organising exhibitions at government venues to address an ongoing shortage of event spaces. On the...

Politics

3 w. ago Xi urges Communist Party to learn from pioneer of China’s economic planning

Chinese President Xi Jinping urged the ruling Communist Party to learn from the legacy of early party figure Chen Yun – a pioneer of China’s economic planning – in remarks on Friday to commemorate the 120th anniversary of the late statesman’s birth. Xi called on the party to have unwavering confidence when facing “chaotic and complex turbulence”, and to strengthen its ability to cut a path for China’s economy with “objective and thorough” research, according to state news agency Xinhua. The...

Economics

3 w. ago Hong Kong urged to turn Hung Hom waterfront into city’s answer to Cannes, Monaco

Hong Kong authorities have been urged to model the proposed Hung Hom waterfront project after Cannes and Monaco to help drive the city’s mega-event economy, as some town planning advisers have questioned plans for more commercial facilities amid a high vacancy rate. Members of the Town Planning Board raised their concerns at the statutory body’s meeting on Friday as the Development Bureau briefed advisers about its plan to turn 24 hectares (59 acres) in Hung Hom into a landmark waterfront...

Politics

3 w. ago Will Air India’s crash in Ahmedabad derail its revival plans?

Air India’s crash of a Boeing 787 jet that killed more than 200 people will be a huge setback to the former state-run carrier’s comeback plans after a change in its ownership to the Tata Group three years ago, according to analysts. The London-bound plane, carrying 242 passengers and crew, went down shortly after taking off from the western Indian city of Ahmedabad. Only one person survived. The deadly accident has raised questions about what possibly went wrong for the Boeing Dreamliner, one of...

Events

3 w. ago China approves world’s biggest amphibious plane, AG600, for mass production

China’s home-grown AG600, the world’s largest amphibious aircraft, has been given the green light for mass production, marking a step forward in building an independent and globally competitive aviation industry. The Civil Aviation Administration of China (CAAC) certified the plane on Wednesday, confirming that its developer, the state-owned Aviation Industry Corporation of China (Avic), has established a reliable system to consistently produce aircraft that meet safety standards, according to...

Politics

3 w. ago China plans to turn Shenzhen into AI and aviation hub amid US sanctions

China has outlined a string of reforms to accelerate the development of hi-tech emerging industries in the city of Shenzhen, as the tech hub in southern China grapples with a barrage of US trade restrictions. The plan focuses on boosting Shenzhen’s ability to create scalable business models in industries such as artificial intelligence and aviation that can be replicated across China, by helping the city cultivate a larger talent pool, expand local companies’ access to financing, and speed up...

Politics

last month Tech hub Shenzhen launches plan to support consumption, exporters amid trade war

China’s top export city and tech hub, Shenzhen, is stepping up efforts to boost domestic consumption and support exporters amid a turbulent trade war between Beijing and Washington. “Consumption is the fundamental driving force behind economic growth and development,” according to a 39-point plan released by the Shenzhen Municipal Development and Reform Commission on Friday. Shenzhen will leverage its strategic strengths in four key categories: artificial intelligence (AI) terminals, smart home...

Events