South China Morning Post — Economy

South China Morning Post — Economy

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China/Asia macro and policy

New 200-Berth Marina, Clubhouse Planned in Hong Kong Revamp of Aberdeen Site
NewsMar 25, 2026

New 200-Berth Marina, Clubhouse Planned in Hong Kong Revamp of Aberdeen Site

The Hong Kong Development Bureau announced a 1.16‑hectare redevelopment of Aberdeen’s waterfront into a new marina with 200 berths, a clubhouse and about 250 residential units, targeting completion by 2032. A tender for the project is expected in the first...

By South China Morning Post — Economy
Pinduoduo Operator’s Profit Slides as Chinese Firm Cites Higher Reinvestment
NewsMar 25, 2026

Pinduoduo Operator’s Profit Slides as Chinese Firm Cites Higher Reinvestment

PDD Holdings, the parent of Pinduoduo and Temu, posted an 11% drop in quarterly net profit to 24.5 billion yuan ($3.6 billion), missing analysts' expectations. Revenue rose 12% year‑on‑year to 123.9 billion yuan (≈$18 billion), in line with forecasts, while full‑year profit fell 12%...

By South China Morning Post — Economy
Singapore Says Involvement in Israeli Military-Linked Groups ‘Not Acceptable’
NewsMar 24, 2026

Singapore Says Involvement in Israeli Military-Linked Groups ‘Not Acceptable’

Singapore’s Ministry of Home Affairs and Ministry of Defence warned that participation in Israeli military‑linked organisations such as Sar‑El is now unacceptable and could trigger legal action. The warning follows the resurfacing of a 2018‑19 blog that encouraged Singaporeans to...

By South China Morning Post — Economy
Japanese ‘Soldier’ Forces Way Into Chinese Embassy in Tokyo
NewsMar 24, 2026

Japanese ‘Soldier’ Forces Way Into Chinese Embassy in Tokyo

A Japanese individual, falsely claiming to be an active Self‑Defence Forces officer, illegally forced entry into the Chinese embassy in Tokyo. The person admitted the illegal act and threatened to kill Chinese diplomatic staff in the name of a self‑styled...

By South China Morning Post — Economy
HKIC, Gobi Partners and HKU Team up for Fund Backing University Research Start-Ups
NewsMar 24, 2026

HKIC, Gobi Partners and HKU Team up for Fund Backing University Research Start-Ups

Hong Kong Investment Corporation (HKIC) has partnered with venture‑capital firm Gobi Partners and the University of Hong Kong (HKU) to launch the Gobi‑HKU Fund I, targeting spin‑offs from university research. The fund’s first two investments are Manifold Tech, a spatial‑intelligence...

By South China Morning Post — Economy
South Korea’s ‘Pali-Pali’ Spirit Keeps Killing Its Workers
NewsMar 23, 2026

South Korea’s ‘Pali-Pali’ Spirit Keeps Killing Its Workers

A fire at Anjun Industrial, a Daejeon car‑parts supplier, killed 14 workers on Friday, exposing a deadly mix of illegal building extensions, grease buildup, and flammable sandwich panels. The blaze originated in a makeshift, unregistered rest area lacking ventilation and...

By South China Morning Post — Economy
Hong Kong to Raise Postage Rates From April 13 Amid Surging Oil Prices
NewsMar 23, 2026

Hong Kong to Raise Postage Rates From April 13 Amid Surging Oil Prices

Hong Kong’s postal operator will raise its rates on April 13, with the price of a standard local letter climbing 9 percent to HK$2.40. Airmail to mainland China and Taiwan will rise to HK$3.90, while surface‑mail and other airmail categories see...

By South China Morning Post — Economy
Changes to Hong Kong’s HK$2 Transport Subsidy Scheme to Kick in on April 3
NewsMar 23, 2026

Changes to Hong Kong’s HK$2 Transport Subsidy Scheme to Kick in on April 3

Hong Kong will roll out a revised HK$2 transport subsidy on April 3, 2026, altering the flat‑rate benefit for elderly and disabled commuters. Under the new model, the two‑dollar fare applies only to trips costing HK$10 or less; for higher‑priced...

By South China Morning Post — Economy
Chinese Surgery Robot Outperforms Humans, Cuts Brain Imaging Time by 29%
NewsMar 23, 2026

Chinese Surgery Robot Outperforms Humans, Cuts Brain Imaging Time by 29%

Chinese researchers unveiled the YDHB‑NS01 cerebrovascular intervention robot, which cuts brain angiography time by roughly 29%, shaving nine minutes off a standard 38‑minute procedure. In a head‑to‑head trial at Peking Union Medical College Hospital, the robot matched manual methods with...

By South China Morning Post — Economy
How Hong Kong Can Prepare to Bring Its Transport Blueprint to Life
NewsMar 23, 2026

How Hong Kong Can Prepare to Bring Its Transport Blueprint to Life

Hong Kong’s new Transport Strategy Blueprint outlines a dual‑innovation vision, but its success depends on three preparatory steps: a shared geospatial data platform, an upgraded cross‑agency traffic‑management system, and a coordinated push for a low‑altitude economy. The proposal also highlights the...

By South China Morning Post — Economy
Luxury Brands Bet on Growth as Well-Heeled Tourists Flock to Hong Kong Events
NewsMar 23, 2026

Luxury Brands Bet on Growth as Well-Heeled Tourists Flock to Hong Kong Events

Hong Kong’s K11 Musea is undergoing a major revamp, adding over 60 new luxury brands and redesigning roughly 30% of its retail floor. Rents are projected to increase by double digits as flagship stores like Audemars Piguet, Prada and Rolex...

By South China Morning Post — Economy
Indonesia’s New Aircraft Carrier Is More Vanity Project than War Machine
NewsMar 22, 2026

Indonesia’s New Aircraft Carrier Is More Vanity Project than War Machine

Indonesia will receive the decommissioned Italian carrier Giuseppe Garibaldi on 5 October, marking the nation’s second aircraft carrier in Southeast Asia. The transfer costs a nominal $60 million, but refurbishment, new armaments and operating expenses are projected near $1 billion, a sizable share of...

By South China Morning Post — Economy
Could Ultra-Precise Harvest Forecast Give China an Advantage in Iran War Fallout?
NewsMar 22, 2026

Could Ultra-Precise Harvest Forecast Give China an Advantage in Iran War Fallout?

China’s grain‑output forecasting system, honed over 46 years, now predicts national harvests with sub‑0.2% error, far outpacing the 5‑10% margins typical in the West. The model’s April release gives Beijing a six‑month lead before the autumn harvest, allowing pre‑emptive moves...

By South China Morning Post — Economy
Premier Li Qiang Calls for a Global Pledge to Open up, While ‘Power Politics’ Runs Rampant
NewsMar 22, 2026

Premier Li Qiang Calls for a Global Pledge to Open up, While ‘Power Politics’ Runs Rampant

At the opening of the China Development Forum 2026, Premier Li Qiang called for a global pledge to deepen economic openness, warning that protectionism is not a cure for current challenges. He indirectly rebuked the United States, suggesting its trade...

By South China Morning Post — Economy
HSBC Asks Victim of Credit Card Theft to Pay HK$126,580 Racked up by Criminals
NewsMar 22, 2026

HSBC Asks Victim of Credit Card Theft to Pay HK$126,580 Racked up by Criminals

HSBC has demanded that a Hong Kong mother repay more than HK$126,000 in charges incurred after thieves used her stolen credit card. The card was taken on November 15 and the victim reported the loss the following day, but the...

By South China Morning Post — Economy
Visit Malaysia 2026 Meets an Iran War Crisis It Never Planned For
NewsMar 22, 2026

Visit Malaysia 2026 Meets an Iran War Crisis It Never Planned For

Malaysia’s tourism sector hit a record 42 million international arrivals in 2025 and set a 43 million‑visitor target for Visit Malaysia 2026, contributing 291.9 billion ringgit (US$74.5 billion) and 15.1 % of GDP. The US‑Israel‑Iran conflict closed Gulf airspace, disrupting the long‑haul routes Kuala Lumpur relies on...

By South China Morning Post — Economy
Swire Coca-Cola Wins HK$32 Million Government Deal After Bottled Water Scandal
NewsMar 20, 2026

Swire Coca-Cola Wins HK$32 Million Government Deal After Bottled Water Scandal

Swire Coca‑Cola has been awarded a HK$31.9 million, 27‑month contract to supply more than 1.46 million bottles of Bonaqua water to Hong Kong government offices. The deal follows a HK$52.9 million bottled‑water procurement scandal that saw a mainland supplier terminated for fraud. The tender...

By South China Morning Post — Economy
Hong Kong Should Use ‘Safe Haven’ Status to Draw Capital From Gulf: Agency Chief
NewsMar 20, 2026

Hong Kong Should Use ‘Safe Haven’ Status to Draw Capital From Gulf: Agency Chief

InvestHK director Alpha Lau urged Hong Kong to leverage its safe‑haven reputation to attract capital fleeing the Middle East conflict, noting a shift of firms from Dubai to the city. She highlighted growing interest from Gulf high‑net‑worth individuals and sovereign...

By South China Morning Post — Economy
China’s Rare Earth Magnet Exports to the US Keep Falling as Europe Gains
NewsMar 20, 2026

China’s Rare Earth Magnet Exports to the US Keep Falling as Europe Gains

China’s shipments of rare‑earth permanent magnets to the United States fell 22.5% year‑on‑year in January‑February 2026, marking the seventh consecutive month of decline. The US now accounts for just 9.2% of China’s magnet exports, slipping to the third‑largest buyer behind...

By South China Morning Post — Economy
Trump Releases AI Policy to Pre-Empt State Rules
NewsMar 20, 2026

Trump Releases AI Policy to Pre-Empt State Rules

The White House unveiled an AI framework aimed at protecting children, communities, and small businesses while urging a single, nationwide regulatory approach. President Trump has linked federal broadband funding to state compliance, pressuring states to align with the plan. The...

By South China Morning Post — Economy
Can the US Reopen the Strait of Hormuz? Many Military Analysts Are Sceptical
NewsMar 20, 2026

Can the US Reopen the Strait of Hormuz? Many Military Analysts Are Sceptical

U.S. airstrikes have reportedly degraded Iran's coastal missile infrastructure, yet the Strait of Hormuz remains effectively blockaded as drones and naval mines pose persistent threats. Between March 1‑15, only 89 vessels – including 16 tankers – traversed the waterway, a sharp...

By South China Morning Post — Economy
China’s Unitree Robotics Rides Humanoid Tide as It Targets US$610m IPO
NewsMar 20, 2026

China’s Unitree Robotics Rides Humanoid Tide as It Targets US$610m IPO

Unitree Robotics, a Hangzhou‑based maker of quadruped and humanoid robots, has filed for a US$610 million IPO on Shanghai’s Star Market. The company reported a 335% revenue jump to 1.71 billion yuan and an eight‑fold increase in adjusted net profit to 600 million...

By South China Morning Post — Economy
China’s Russian Oil Imports Spike in Early 2026, but Iran War Changes Outlook
NewsMar 20, 2026

China’s Russian Oil Imports Spike in Early 2026, but Iran War Changes Outlook

China’s imports of discounted Russian crude surged to 21.8 million tonnes in January‑February 2026, a 40.9% year‑on‑year increase, while the dollar value rose only 5.8% due to steep discounts. Russian oil now makes up more than one‑fifth of China’s total crude...

By South China Morning Post — Economy
India Steps up Regional Energy Diplomacy, Supplies Bangladesh with Diesel
NewsMar 20, 2026

India Steps up Regional Energy Diplomacy, Supplies Bangladesh with Diesel

India will deliver 45,000 tonnes of diesel to Bangladesh by April, with 5,000 tonnes already shipped via the 131.5‑km India‑Bangladesh Friendship Pipeline. The move comes as global fuel prices surge amid the Iran‑Israel conflict and reflects New Delhi’s self‑styled role...

By South China Morning Post — Economy
Chinese Scientists Use E Coli to Fight Breast Tumours From Within in Mice Study
NewsMar 18, 2026

Chinese Scientists Use E Coli to Fight Breast Tumours From Within in Mice Study

Chinese researchers at Shandong University have engineered the probiotic strain Escherichia coli Nissle 1917 to synthesize and deliver the anticancer drug Romidepsin directly within breast‑tumor tissue in mice. The bacteria colonized the tumors, releasing the drug locally and achieving tumor‑inhibiting...

By South China Morning Post — Economy
Delayed US-China Summit Raises Stakes for Takaichi Ahead of White House Visit
NewsMar 18, 2026

Delayed US-China Summit Raises Stakes for Takaichi Ahead of White House Visit

US President Donald Trump’s scheduled summit with Japanese Prime Minister Sanae Takaichi was postponed, pushing back the pre‑China coordination meeting ahead of Trump’s Beijing visit. Analysts link the delay to the escalating Iran‑Israel conflict and the newly announced Chinese meeting...

By South China Morning Post — Economy
Hong Kong Watchdog Warns 24-Hour Gym Users of Hidden Costs, Data Privacy Risks
NewsMar 16, 2026

Hong Kong Watchdog Warns 24-Hour Gym Users of Hidden Costs, Data Privacy Risks

Hong Kong’s Consumer Council has flagged hidden fees and privacy risks at 24‑hour gyms after surveying 11 operators. Nearly half of the gyms impose non‑refundable surcharges that can double the cost for short‑term members. Monthly rates already vary widely, and...

By South China Morning Post — Economy
7 Die in Nepal as Bus Carrying Indian Pilgrims Plunges Off Mountain Road Into Ravine
NewsMar 15, 2026

7 Die in Nepal as Bus Carrying Indian Pilgrims Plunges Off Mountain Road Into Ravine

A passenger bus carrying Indian pilgrims slipped off a mountain road near Shahid Lakhan village in central Nepal, killing seven and injuring nine. The crash occurred as the vehicle descended toward the Manakamana Temple, falling about 150 meters into a...

By South China Morning Post — Economy
In Joint Patrols with China, Vietnam Steers Course Between Two Powers
NewsMar 15, 2026

In Joint Patrols with China, Vietnam Steers Course Between Two Powers

China and Vietnam launched a joint naval patrol and training exercise in the Gulf of Tonkin this week, extending a practice that has persisted despite their overlapping maritime claims. The operation follows a series of coordinated drills that began last...

By South China Morning Post — Economy
Hong Kong Seeks to Replace, Not Punish, Underperforming Medical Council Members
NewsMar 15, 2026

Hong Kong Seeks to Replace, Not Punish, Underperforming Medical Council Members

Hong Kong’s Health Secretary Lo Chung‑mau announced that under‑performing members of the volunteer Medical Council will be replaced rather than punished, as part of an amendment to the Medical Registration Ordinance. The reform avoids imposing rigid deadlines, instead requiring the...

By South China Morning Post — Economy
Could China Build an ‘Army of Centaurs’ with This Non-Invasive Cyborg Tech?
NewsMar 15, 2026

Could China Build an ‘Army of Centaurs’ with This Non-Invasive Cyborg Tech?

Chinese researchers have unveiled a non‑invasive wearable human‑robot hybrid that assists soldiers in carrying heavy loads across rugged terrain. The exoskeleton uses lightweight actuators, sensor arrays and AI‑driven control to augment strength without requiring implants. Tests suggest it can increase...

By South China Morning Post — Economy
Singapore Contests US Claim of Trade Surplus Amid Excess Capacity Probe
NewsMar 13, 2026

Singapore Contests US Claim of Trade Surplus Amid Excess Capacity Probe

Singapore has rejected the U.S. Trade Representative’s claim that it posted a $27 billion trade surplus with the United States in 2024, asserting instead a $27 billion deficit – $1.7 billion in goods and $25.1 billion in services. The dispute arises as Washington launches...

By South China Morning Post — Economy
US Says Iran’s New Supreme Leader Likely ‘Wounded’, Dismisses Strait of Hormuz Concerns
NewsMar 13, 2026

US Says Iran’s New Supreme Leader Likely ‘Wounded’, Dismisses Strait of Hormuz Concerns

U.S. Defense Secretary Pete Hegseth announced that Iran’s newly installed Supreme Leader, Mojtaba Khamenei, is reportedly wounded and possibly disfigured, casting doubt on his legitimacy. Hegseth warned that the United States will launch the highest volume of air strikes ever over...

By South China Morning Post — Economy
US-China Trade Talks: What to Expect as Senior Officials Meet in Paris
NewsMar 13, 2026

US-China Trade Talks: What to Expect as Senior Officials Meet in Paris

Senior U.S. and Chinese officials convened in Paris to lay groundwork for the upcoming Beijing summit between President Xi Jinping and President Donald Trump. The talks are expected to focus on procedural issues rather than substantive policy breakthroughs, reflecting both...

By South China Morning Post — Economy
Apple’s Mac Mini Selling Out Across China as OpenClaw Fever Rages
NewsMar 13, 2026

Apple’s Mac Mini Selling Out Across China as OpenClaw Fever Rages

Apple’s compact Mac Mini is selling out across China as the OpenClaw AI agent craze spikes demand. Sellers are marking up the base 16‑GB/256‑GB model by at least 500 yuan, while Apple’s official store lists a month‑long wait. The device’s low...

By South China Morning Post — Economy
Multi-Car Crash on Major Bridge Injures 10, Shuts Hong Kong Airport-Bound Lanes
NewsMar 12, 2026

Multi-Car Crash on Major Bridge Injures 10, Shuts Hong Kong Airport-Bound Lanes

More than ten vehicles collided on Hong Kong's Tsing Ma Bridge at 8:31 am, injuring ten people. The crash forced the closure of all lanes heading to the airport, triggering severe congestion on the main access route. The Transport Department confirmed...

By South China Morning Post — Economy
Graham A. Harris, a Giant of the Hong Kong Bar
NewsMar 12, 2026

Graham A. Harris, a Giant of the Hong Kong Bar

The Hong Kong Bar Association awards Life Membership to barristers who have rendered outstanding service to the Bar or the administration of justice. The honor, established in 1949, requires nomination by at least 20 members, including ten senior counsel, and...

By South China Morning Post — Economy
To Make AI Safe, Put Women and Girls at the Heart of the Technology
NewsMar 12, 2026

To Make AI Safe, Put Women and Girls at the Heart of the Technology

In February, Hong Kong’s Office of the Privacy Commissioner co‑signed a statement with 60 overseas organisations condemning the surge of deepfake misuse targeting women. The piece notes that 90% of non‑consensual deep‑fake pornography depicts women and that nudification AI apps...

By South China Morning Post — Economy
Meta Disables 150,000 Accounts in Global Sting on Southeast Asian Scam Centres
NewsMar 12, 2026

Meta Disables 150,000 Accounts in Global Sting on Southeast Asian Scam Centres

Meta disabled over 150,000 accounts linked to Southeast Asian scam centres after a joint operation led by Thailand’s Royal Thai Police, the FBI and the U.S. Justice Department. The crackdown resulted in 21 arrests and highlighted the sophisticated, multilingual fraud...

By South China Morning Post — Economy
Is Beijing Stepping up Island Building in South China Sea After 10-Year Pause?
NewsMar 12, 2026

Is Beijing Stepping up Island Building in South China Sea After 10-Year Pause?

Satellite imagery shows China rapidly expanding Antelope Reef in the Paracel Islands, deploying more than 30 dredgers and construction vessels. The reclamation effort, the first major South China Sea project since Beijing announced a halt over a decade ago, appears...

By South China Morning Post — Economy
How Will Hong Kong Follow Mainland China’s Ethnic Unity Promotion Law?
NewsMar 12, 2026

How Will Hong Kong Follow Mainland China’s Ethnic Unity Promotion Law?

China’s 14th National People’s Congress will pass a Law on Promoting Ethnic Unity and Progress, targeting a shared national identity among the country’s 56 ethnic groups. Hong Kong officials and scholars say the city must intensify Chinese history and culture education...

By South China Morning Post — Economy
Chinese Firms with Success in Go-Global Efforts Poised to Reap Profit Rewards
NewsMar 11, 2026

Chinese Firms with Success in Go-Global Efforts Poised to Reap Profit Rewards

Chinese mainland‑listed firms are set to outpace Hong Kong peers in earnings, driven by aggressive overseas expansion and a commodity price boom. Bloomberg estimates the CSI‑300’s average profit growth could hit 6.3 % in 2025 versus just 2 % for the Hang Seng....

By South China Morning Post — Economy
Could China’s Rare Earth Supplies Dictate How Long US Strikes on Iran Go On?
NewsMar 10, 2026

Could China’s Rare Earth Supplies Dictate How Long US Strikes on Iran Go On?

The United States imports roughly 71% of its rare earth elements from China, a dependency that underpins many of its military platforms. As Washington conducts airstrikes against Iran, Beijing’s control over these critical materials gives it strategic leverage over the...

By South China Morning Post — Economy
Memory Price Hikes ‘the New Normal’ as AI Boom Fuels Storage Demand, Seagate Says
NewsMar 10, 2026

Memory Price Hikes ‘the New Normal’ as AI Boom Fuels Storage Demand, Seagate Says

Seagate’s chief commercial officer warns that memory price hikes will become the new normal as the AI‑driven super‑cycle pushes DRAM costs up 90% quarter‑over‑quarter in Q1 2026. The surge, fueled by AI data‑centre demand, is forcing the storage industry to accelerate...

By South China Morning Post — Economy
EU Eyes Nuclear Energy Again as Oil Prices Soar
NewsMar 10, 2026

EU Eyes Nuclear Energy Again as Oil Prices Soar

EU Commission President Ursula von der Leyen warned that Europe’s abandonment of nuclear power was a strategic mistake as oil prices surged amid Middle‑East tensions. At a Paris nuclear summit the EU announced a €200 million guarantee to fund innovative nuclear...

By South China Morning Post — Economy
From ‘Love and Hate’ to Nationalism, Can Xi and Trump Rebalance Ties?
NewsMar 10, 2026

From ‘Love and Hate’ to Nationalism, Can Xi and Trump Rebalance Ties?

U.S. President Donald Trump is set to make his first China visit in a decade, prompting Chinese scholars to argue the relationship can move from confrontation toward managed coexistence. At a University of Hong Kong seminar, experts highlighted a "relative...

By South China Morning Post — Economy
China-North Korea Rail Services Restored as Neighbours Try to Get Relations Back on Track
NewsMar 10, 2026

China-North Korea Rail Services Restored as Neighbours Try to Get Relations Back on Track

China announced the resumption of passenger train services to North Korea, marking the first such link in six years. The move is presented as a barometer of Pyongyang's willingness to restore ties with its largest trading partner. The rail service...

By South China Morning Post — Economy
Hong Kong Open to Backing Universities Issuing Bonds to Fund Megaproject Campuses
NewsFeb 26, 2026

Hong Kong Open to Backing Universities Issuing Bonds to Fund Megaproject Campuses

Hong Kong's finance chief Paul Chan signaled openness to allowing local universities to issue tertiary education bonds to fund the Northern Metropolis University Town project. The plan expands the campus area to 100 hectares and includes a third medical school,...

By South China Morning Post — Economy
Hong Kong Banks’ Collateral Asset Valuations to Continue Declining in 2026: S&P
NewsFeb 26, 2026

Hong Kong Banks’ Collateral Asset Valuations to Continue Declining in 2026: S&P

S&P Global Ratings warns that collateral values backing Hong Kong banks' commercial property loans will keep declining through 2026, reflecting a market that has yet to find a bottom. The Bank of East Asia disclosed a HK$723 million valuation loss in...

By South China Morning Post — Economy