South China Morning Post — Economy

South China Morning Post — Economy

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China/Asia macro and policy

Filipino Farmers Leave Crops to Rot as Fuel Prices Drive up Cost of Harvest
NewsApr 7, 2026

Filipino Farmers Leave Crops to Rot as Fuel Prices Drive up Cost of Harvest

Filipino vegetable growers in Benguet are leaving fields unharvested as soaring fuel prices—driven by the Middle‑East conflict—push labour, transport and packing costs above market prices. The surge in oil costs, combined with weak buyer demand, forces farmers like Romeo Wagayan...

By South China Morning Post — Economy
Wang Fuk Court Briefing to Give Residents Answers Before Decisions Are Made: Minister
NewsApr 7, 2026

Wang Fuk Court Briefing to Give Residents Answers Before Decisions Are Made: Minister

Hong Kong’s Home Affairs Secretary Alice Mak announced a pre‑meeting briefing for residents of Wang Fuk Court, the Tai Po estate devastated by a November fire that killed 168 people. The briefing, organized by interim manager Hop On Management, will address refund of the...

By South China Morning Post — Economy
Hong Kong’s Northern Metropolis to Get Separate Fencing Hall, Pool Complex
NewsApr 7, 2026

Hong Kong’s Northern Metropolis to Get Separate Fencing Hall, Pool Complex

Hong Kong’s Northern Metropolis megaproject will host a world‑class fencing hall and a stand‑alone swimming‑pool complex, both built to international specifications. The Leisure and Cultural Services Department revised the plan to separate the pool from the fencing venue, aiming for...

By South China Morning Post — Economy
Hong Kong Property Launch Sees Brisk Sales as Buyers Unfazed by Trump’s Iran Warning
NewsApr 7, 2026

Hong Kong Property Launch Sees Brisk Sales as Buyers Unfazed by Trump’s Iran Warning

Hong Kong’s La Mirabelle I launch saw 152 of 168 units sold by early evening, bringing the project’s total to 522 units sold in under three weeks and generating more than HK$4.6 billion in revenue. The second‑round sale added HK$1.1 billion (US$140 million) in revenue...

By South China Morning Post — Economy
Car Record for Mega Bridge’s Hong Kong Checkpoint as F&B Sector Feels Holiday Pain
NewsApr 7, 2026

Car Record for Mega Bridge’s Hong Kong Checkpoint as F&B Sector Feels Holiday Pain

Hong Kong saw a massive travel surge over the Easter break, with 2.12 million residents making outbound trips and the Hong Kong‑Zhuhai‑Macau Bridge checkpoint handling a record 27,411 car movements in a single day. While hotels enjoyed near‑full occupancy and higher room...

By South China Morning Post — Economy
Taxi Driver Arrested for Demanding HK$85 ‘Highway Toll’ From Undercover Officers
NewsApr 7, 2026

Taxi Driver Arrested for Demanding HK$85 ‘Highway Toll’ From Undercover Officers

Hong Kong police arrested a 31‑year‑old taxi driver after he demanded an HK$85 "highway toll" from officers posing as passengers on a Lantau Island route. The driver was charged with overcharging, failing to display his licence plate, driving in a...

By South China Morning Post — Economy
Filipino Taxi Driver Suspended After Overcharging K-Pop Star Soobin in Cebu
NewsApr 7, 2026

Filipino Taxi Driver Suspended After Overcharging K-Pop Star Soobin in Cebu

South Korean K‑pop idol Choi Soo‑bin of TXT was overcharged by a Filipino taxi driver in Cebu, prompting a viral video. The driver demanded 500 pesos, later inflating to 1,000 pesos, far above the expected 300‑peso fare. Philippine transport regulators...

By South China Morning Post — Economy
ICBC and CCB Lead China’s 6 Biggest Banks in US$61 Billion Dividend Payout
NewsApr 7, 2026

ICBC and CCB Lead China’s 6 Biggest Banks in US$61 Billion Dividend Payout

China’s six largest state‑owned banks will distribute over 420 billion yuan (about US$61 billion) in dividends for 2025, a 1.6 percent rise from the prior year. ICBC and CCB each top 100 billion yuan, maintaining a 30 percent payout ratio, while the other four banks...

By South China Morning Post — Economy
Singapore’s Shanmugam Slams Bloomberg’s  ‘Venomous’ Emails in Defamation Hearing
NewsApr 7, 2026

Singapore’s Shanmugam Slams Bloomberg’s ‘Venomous’ Emails in Defamation Hearing

Singapore cabinet ministers K. Shanmugam and Tan See Leng have launched a defamation lawsuit against Bloomberg after the news outlet published an article referencing their personal property transactions. The ministers allege the piece contains false statements that damage their reputations. During the...

By South China Morning Post — Economy
Supreme Court Clears Path to Overturn Conviction of Ex-Trump Aide Steve Bannon
NewsApr 6, 2026

Supreme Court Clears Path to Overturn Conviction of Ex-Trump Aide Steve Bannon

The U.S. Supreme Court issued an unsigned order that vacated the appellate ruling upholding Steve Bannon’s conviction for defying a congressional subpoena related to the Jan. 6 attack, and sent the case back to the trial judge. Bannon, who served four...

By South China Morning Post — Economy
Ukraine Has Proposed Energy Truce to Russia via US Mediators, Zelensky Says
NewsApr 6, 2026

Ukraine Has Proposed Energy Truce to Russia via US Mediators, Zelensky Says

Ukraine, via U.S. mediators, offered a reciprocal cease‑fire on energy targets, saying it will halt strikes on Russian facilities if Moscow stops hitting Ukrainian power infrastructure. President Zelensky announced the proposal during his evening address, emphasizing a tit‑for‑tat approach. Russian...

By South China Morning Post — Economy
China’s Yuan May Be Going Global Faster than Western Data Suggests, Analysts Say
NewsApr 6, 2026

China’s Yuan May Be Going Global Faster than Western Data Suggests, Analysts Say

Analysts argue that China’s yuan is expanding globally faster than traditional metrics reveal, as an increasing volume of cross‑border transactions now flow through the country’s own payment network, CIPS. Because CIPS and bilateral settlement channels bypass SWIFT’s messaging system, they...

By South China Morning Post — Economy
Malaysia: Daim’s Daughter to Be Charged in Kuala Lumpur Court Amid Corruption Probe
NewsApr 6, 2026

Malaysia: Daim’s Daughter to Be Charged in Kuala Lumpur Court Amid Corruption Probe

Asnida Daim, daughter of late former finance minister Daim Zainuddin, will be charged in Kuala Lumpur Sessions Court for failing to comply with a Malaysian Anti‑Corruption Commission (MACC) notice to declare assets. The charge, under Section 36(2) of the MACC Act 2009,...

By South China Morning Post — Economy
Chinese-Made Drone Shot in Iran, Australia’s Diplomacy Pivot: 5 Weekend Reads You Missed
NewsApr 6, 2026

Chinese-Made Drone Shot in Iran, Australia’s Diplomacy Pivot: 5 Weekend Reads You Missed

Iran shot down a Chinese‑made drone over Shiraz, accusing Saudi Arabia and the UAE, while China clarified the strategic role of its 20‑metre ultra‑large underwater drone. Hongkongers flocked to Shenzhen’s new Science and Technology Museum for Easter, underscoring growing tech...

By South China Morning Post — Economy
Orban on the Brink: Could Hungary’s Election Dent China’s Influence in Europe?
NewsApr 6, 2026

Orban on the Brink: Could Hungary’s Election Dent China’s Influence in Europe?

Viktor Orbán’s Fidesz party is trailing the newly formed Tisza Party in polls ahead of Hungary’s April 12 parliamentary election. The contest is being framed as a referendum on whether Budapest will deepen its alignment with China and Russia or re‑orient...

By South China Morning Post — Economy
South Korea’s Lee Regrets Drones Sent to North: ‘Irresponsible and Reckless’
NewsApr 6, 2026

South Korea’s Lee Regrets Drones Sent to North: ‘Irresponsible and Reckless’

South Korean President Lee Jae Myung publicly apologized to North Korea for a January drone incursion that was later linked to government officials, reversing earlier claims that civilians were responsible. The drones, equipped with surveillance gear, were shot down by...

By South China Morning Post — Economy
Housing Authorities Expand Use of Smart Technologies to Support Elderly
NewsApr 6, 2026

Housing Authorities Expand Use of Smart Technologies to Support Elderly

Hong Kong’s Housing Authority is scaling a smart‑technology programme to protect elderly residents in public estates. Door‑activity sensors will be added to Tung Wui and Tin Yan estates, while fall detectors are slated for about 200 single‑elder households and stair‑climbers...

By South China Morning Post — Economy
Hong Kong’s New Academy for Female Medical Scientists Aims to Bridge Gender Gap
NewsApr 6, 2026

Hong Kong’s New Academy for Female Medical Scientists Aims to Bridge Gender Gap

The Chinese University of Hong Kong has launched the Women in Science and Medicine Academy (Wise) to nurture early‑career female medical scientists. The five‑year program targets 100 researchers, offering mentorship, leadership training, global exposure, and family‑friendly policies. CUHK aims to...

By South China Morning Post — Economy
China’s Push for Hydrogen-Powered Planes Takes Step Forward Amid Iran Energy Crisis
NewsApr 5, 2026

China’s Push for Hydrogen-Powered Planes Takes Step Forward Amid Iran Energy Crisis

China’s Aero Engine Corporation successfully flew a 7.5‑tonne unmanned cargo plane powered by a 1‑megawatt hydrogen turboprop, completing a 16‑minute, 36‑kilometre test at 220 km/h and 300 metres altitude. The flight proves the engine’s reliability and showcases China’s claim of a complete...

By South China Morning Post — Economy
Signal Fault Disrupts Hong Kong MTR’s Airport Express, Tung Chung Line Services
NewsApr 5, 2026

Signal Fault Disrupts Hong Kong MTR’s Airport Express, Tung Chung Line Services

Hong Kong’s MTR Corporation announced that a signalling fault near Siu Ho Wan disrupted the Airport Express and Tung Chung lines, adding roughly eight to ten minutes to travel times. Engineers resolved the issue by 8 pm, allowing services to resume...

By South China Morning Post — Economy
China Unveils Handheld Coil Gun that Works Like a ‘Less Deadly’ Pistol
NewsApr 5, 2026

China Unveils Handheld Coil Gun that Works Like a ‘Less Deadly’ Pistol

Chinese state‑owned China South Industries Group has unveiled a handheld electromagnetic coil gun designed for stealthy, non‑lethal operations. The 30 cm device can fire 1,000‑2,000 metal projectiles per minute, with adjustable power settings that allow operators to vary kinetic energy and...

By South China Morning Post — Economy
Are China’s TV Dramas Obsessed with Beauty? An Industry Regulator Thinks So
NewsApr 5, 2026

Are China’s TV Dramas Obsessed with Beauty? An Industry Regulator Thinks So

China’s National Radio and Television Administration warned that TV dramas are overly fixated on physical beauty and traffic‑driven popularity, urging a shift toward stronger acting and storytelling. The directive was delivered at a conference that gathered major streamers such as...

By South China Morning Post — Economy
Move over, Easter Bunny: Cats Are the Stars in Hong Kong This Holiday
NewsApr 5, 2026

Move over, Easter Bunny: Cats Are the Stars in Hong Kong This Holiday

Hong Kong has swapped the Easter Bunny for a series of giant cat installations, from an eight‑metre interactive feline at the airport to inflatable cats at the West Kowloon Cultural District. Artists have also painted cat‑themed murals, including a van Gogh...

By South China Morning Post — Economy
Australia Receives Fuel Export Guarantees From Singapore, Japan
NewsApr 5, 2026

Australia Receives Fuel Export Guarantees From Singapore, Japan

Australia has secured assurances from Japan, South Korea and Singapore that fuel shipments will continue despite disruptions from the Iran‑Israel conflict. The guarantees come after concerns that Asian exporters might curtail supplies to protect domestic markets. South Korea alone supplies...

By South China Morning Post — Economy
New Guangzhou Rule on Handmade Dim Sum Sparks Debate on Heritage Food in Hong Kong
NewsApr 4, 2026

New Guangzhou Rule on Handmade Dim Sum Sparks Debate on Heritage Food in Hong Kong

Guangzhou has introduced a rule, effective May 1, requiring teahouses to label dim sum as either freshly handmade or produced by non‑traditional methods, with a strict 24‑hour freshness window for the former. The regulation aims to protect intangible cultural heritage and...

By South China Morning Post — Economy
Iran Demands Explanations From Saudis and UAE After Chinese-Made Drone Was Shot Down
NewsApr 4, 2026

Iran Demands Explanations From Saudis and UAE After Chinese-Made Drone Was Shot Down

Iran announced it shot down a Chinese‑made Wing Loong II unmanned aircraft that entered its airspace, accusing Saudi Arabia and the United Arab Emirates of operating the drone. Tehran demanded immediate explanations from both Riyadh and Abu Dhabi, labeling the incident evidence...

By South China Morning Post — Economy
UAE Squeezes Iranian Economic Lifeline in Retaliation for Attacks
NewsApr 4, 2026

UAE Squeezes Iranian Economic Lifeline in Retaliation for Attacks

Facing a wave of Iranian air strikes on its industrial sites, the United Arab Emirates has moved to choke off Tehran’s economic lifeline. The UAE quietly imposed a near‑total ban on Iranian nationals entering the country or transiting through its...

By South China Morning Post — Economy
Rubio Raises Concerns over China’s Detention of Panama-Flagged Ships
NewsApr 2, 2026

Rubio Raises Concerns over China’s Detention of Panama-Flagged Ships

U.S. Secretary of State Marco Rubio warned that China’s heightened inspections of Panama‑flagged vessels pose a serious threat to global trade. He said the detentions and delays undermine the rule of law in Panama and destabilize supply chains. The United...

By South China Morning Post — Economy
Trump Tariffs Cast Shadow as US-China Trade Shrinks Ahead of Xi Meeting
NewsApr 2, 2026

Trump Tariffs Cast Shadow as US-China Trade Shrinks Ahead of Xi Meeting

U.S. trade data released Thursday shows direct commerce with China continuing to shrink, reaching one of the lowest bilateral goods deficits in two decades. The decline follows last year’s tariff escalations, which have deepened economic tensions between the two powers....

By South China Morning Post — Economy
Immediate Reopening of Strait of Hormuz Demanded at 40-Nation Talks
NewsApr 2, 2026

Immediate Reopening of Strait of Hormuz Demanded at 40-Nation Talks

British Foreign Minister Yvette Cooper led a UK‑coordinated gathering of roughly 40 nations that called for the immediate, unconditional reopening of the Strait of Hormuz. The meeting reiterated demand for freedom of navigation after the strait has been virtually shut...

By South China Morning Post — Economy
US Crude Tops US$110, Wall Street Falls After Trump Vows More Iran Attacks
NewsApr 2, 2026

US Crude Tops US$110, Wall Street Falls After Trump Vows More Iran Attacks

U.S. crude oil spiked to $111.92 a barrel, up nearly 12% after President Trump pledged continued strikes on Iran for the next two to three weeks. The aggressive rhetoric sent the S&P 500 down 1.1%, the Dow off 1.2% and the...

By South China Morning Post — Economy
Hong Kong Investment Chief Joins Global Board in First for Chinese Sovereign Funds
NewsApr 1, 2026

Hong Kong Investment Chief Joins Global Board in First for Chinese Sovereign Funds

Clara Chan Ka‑chai, chief executive of Hong Kong Investment Corporation (HKIC), has been appointed to the board of FCLTGlobal, marking the first Chinese sovereign wealth fund representation on the nonprofit’s 19‑member board. FCLTGlobal, founded in 2016, unites leading long‑term investors...

By South China Morning Post — Economy
Qiushi Reaffirms China’s Trade-Rebalance Push, Calls Old Export-Led Growth ‘Unsustainable’
NewsApr 1, 2026

Qiushi Reaffirms China’s Trade-Rebalance Push, Calls Old Export-Led Growth ‘Unsustainable’

China’s leading Communist Party journal Qiushi reiterated the nation’s trade‑rebalancing agenda, warning that the traditional export‑driven growth model is no longer viable. The editorial cites rising global protectionism, geopolitical tensions, and a record‑high trade surplus as catalysts for a pivot...

By South China Morning Post — Economy
China Influencer Amasses over 1 Million Followers in 2 Weeks by Sharing How to Rent a Home Tips
NewsMar 31, 2026

China Influencer Amasses over 1 Million Followers in 2 Weeks by Sharing How to Rent a Home Tips

Chinese influencer Gulumao amassed 1.3 million followers in just two weeks by posting short, practical videos on how to rent a home. His debut tutorial, "Youth Study: How to Rent a Home," garnered over 4.6 million views and quickly went viral on...

By South China Morning Post — Economy
Over 47,000 Cabbies Adopt Octopus, Card Readers Ahead of E-Payment Regulations
NewsMar 31, 2026

Over 47,000 Cabbies Adopt Octopus, Card Readers Ahead of E-Payment Regulations

More than 47,000 Hong Kong taxi drivers have installed the commercial Octopus app or mobile POS devices ahead of new e‑payment regulations that require each cab to offer at least two digital payment options. The Transport Department opened service stations...

By South China Morning Post — Economy
Li Ka-Shing’s CK Life Unit Eyes China Fast Track for Cancer Vaccine Pipeline
NewsMar 29, 2026

Li Ka-Shing’s CK Life Unit Eyes China Fast Track for Cancer Vaccine Pipeline

CK Life Sciences, the Li Ka‑shing‑backed unit, has created Sequencio Therapeutics in Hong Kong to fast‑track its cancer‑vaccine pipeline in mainland China using investigator‑initiated trials (IITs). The fast‑track channel can cut trial start‑up time from 18‑24 months to a few months,...

By South China Morning Post — Economy
Why Kenneth Rogoff Thinks China’s Yuan Will Be a Reserve Currency ‘in the Next 5 Years’
NewsMar 29, 2026

Why Kenneth Rogoff Thinks China’s Yuan Will Be a Reserve Currency ‘in the Next 5 Years’

Harvard economist Kenneth Rogoff predicts China’s yuan will join the ranks of global reserve currencies within five years. He argues that the U.S. dollar faces a legitimacy crisis due to mounting debt, political fragmentation, and waning confidence among central banks....

By South China Morning Post — Economy
Can Hong Kong Hitch a Ride on China’s Commercial Aerospace Wave?
NewsMar 29, 2026

Can Hong Kong Hitch a Ride on China’s Commercial Aerospace Wave?

China’s 15th Five‑Year Plan elevates commercial aerospace to a core strategic pillar, linking satellites, AI, quantum and 6G technologies. The plan signals a national push for a low‑altitude economy and expects private firms like ADA Space to expand AI‑enabled satellite...

By South China Morning Post — Economy
The Philippines Loves Jollibee. Overseas Filipinos Love It Even More
NewsMar 29, 2026

The Philippines Loves Jollibee. Overseas Filipinos Love It Even More

Jollibee has become a cultural anchor for the Filipino diaspora, offering familiar comfort food that bridges home and abroad. The chain now runs over 1,600 stores in 17 countries, including more than 80 locations in the United States. Brand Finance...

By South China Morning Post — Economy
Hong Kong Passengers Caught Off Guard by New Airport Limit of 2 Power Banks
NewsMar 29, 2026

Hong Kong Passengers Caught Off Guard by New Airport Limit of 2 Power Banks

Hong Kong International Airport began enforcing a new regulation that limits each departing passenger to two power banks. The rule took effect on Sunday, but many travelers reported seeing few or no signs alerting them to the change. Airport officials...

By South China Morning Post — Economy
Trump Pitches China Trade ‘Win’ to US Farmers Ahead of Xi Meeting, Midterms
NewsMar 27, 2026

Trump Pitches China Trade ‘Win’ to US Farmers Ahead of Xi Meeting, Midterms

President Donald Trump told a crowd of farmers that recent talks with Chinese President Xi Jinping have secured a $40 billion increase in U.S. soybean shipments to China. He framed the outcome as a personal win, saying he convinced Xi to...

By South China Morning Post — Economy
Why China’s Space-Based Solar Power Is the Next Frontier of Green Energy
NewsMar 27, 2026

Why China’s Space-Based Solar Power Is the Next Frontier of Green Energy

China is advancing its Zhuri space‑based solar power programme, aiming for a megawatt‑level orbital test around 2030 and a gigawatt‑scale station by 2050. The initiative leverages falling launch costs and new wireless‑power technologies to deliver continuous, weather‑independent electricity from geostationary...

By South China Morning Post — Economy
Lawmakers Concerned over Lack of Parking at Huanggang Border Checkpoint
NewsMar 27, 2026

Lawmakers Concerned over Lack of Parking at Huanggang Border Checkpoint

Hong Kong lawmakers have criticised the lack of a public car park at the newly upgraded Huanggang border crossing, which sits on the Shenzhen side of the border. Transport officials say a parking site may be located near the San Tin...

By South China Morning Post — Economy
Police Charge Another 10 People over HK$1.6 Billion JPEX Cryptocurrency Scandal
NewsMar 26, 2026

Police Charge Another 10 People over HK$1.6 Billion JPEX Cryptocurrency Scandal

Hong Kong police have charged an additional ten individuals in the JPEX cryptocurrency fraud, bringing the total alleged loss to HK$1.6 billion (approximately US$205.8 million). The new suspects, four men and six women aged 26‑47, face money‑laundering and conspiracy charges and will...

By South China Morning Post — Economy
Trump Eyes China Deal, but Dragging Out Talks Risks Backlash, Warns Former Diplomat
NewsMar 26, 2026

Trump Eyes China Deal, but Dragging Out Talks Risks Backlash, Warns Former Diplomat

Former U.S. diplomat Stephen Biegun says President Donald Trump will pursue an economic deal with China during his mid‑May visit to Beijing. The agenda is expected to focus on securing large‑scale Chinese purchases of American agricultural and manufacturing products. Biegun...

By South China Morning Post — Economy
Hong Kong’s Ocean Park Uses AI to Track, Enrich Lives of Giant Pandas, Monkeys
NewsMar 25, 2026

Hong Kong’s Ocean Park Uses AI to Track, Enrich Lives of Giant Pandas, Monkeys

Ocean Park in Hong Kong has deployed artificial intelligence to continuously monitor its giant panda twins and golden monkeys, enabling precise behavior tracking and personalized enrichment. The AI system replaces manual video sampling, identifying individual animals, body postures, and social...

By South China Morning Post — Economy
Semicon China: AI, Advanced Packaging Set to Drive Country’s Chip Industry Growth
NewsMar 25, 2026

Semicon China: AI, Advanced Packaging Set to Drive Country’s Chip Industry Growth

China’s semiconductor sector is set to capture nearly half of global wafer‑fabrication capacity by 2028, rising to 42% from 32% in 2025. The growth is being propelled by the adoption of agentic AI, which dramatically increases inference compute needs, and...

By South China Morning Post — Economy
China Still on Track to Supplant US as World’s No 1 Economy in 10 Years: Academic
NewsMar 25, 2026

China Still on Track to Supplant US as World’s No 1 Economy in 10 Years: Academic

China is projected to overtake the United States as the world’s largest economy within the next decade, according to a University of Hong Kong political science professor. The forecast draws on IMF and World Bank growth trends that show China’s...

By South China Morning Post — Economy
Hong Kong’s TVB Logs US$7.5 Million Profit, Shaking Off 7 Years of Losses
NewsMar 25, 2026

Hong Kong’s TVB Logs US$7.5 Million Profit, Shaking Off 7 Years of Losses

Hong Kong’s leading free‑to‑air broadcaster TVB reported a US$7.5 million profit for 2025, reversing a seven‑year loss streak. Revenue slipped 2% to HK$3.19 billion (≈US$408 million) but costs fell 4.9%, while advertising income rose 15% on its terrestrial channels. Growth was driven by...

By South China Morning Post — Economy