彭博社援引消息人士的说法称，中国最大房地产公司之一的恒大集团董事局主席许家印目前已被警方监视居住。消息一出，引起外界广泛关注。在中国房地产公司不断爆出债务危机的趋势下，有观察家指出，这一事件表明中国经济崩溃的多米诺骨牌倒下的速度正在加快。
彭博社的这条消息实质内容非常简短，只是提到许家印在本月早些时候就被警方带走，并被置于监视居住之下。报道中没有透露许家印被关押的具体地方，也没有解释警方到底是以什么名义将他带走，更没有说他已经被指控任何罪名。
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真的被抓了？
曾在中国长期从事房地产业的刘金星告诉本台，他不太相信这条消息，“它（这种做法）实际是跟现在大的政策环境相违背的。”
他分析说，恒大8月在美国纽约提起破产保护，这说明中国政府对恒大债务重组是给了一条出路的；并且中国也不想把这些房地产公司打碎，从中国现在的经济形势来看，也没有必要这样做。
“从国务院新一届的领导班子来看，对于保护民营经济的积极性，是在采取工作的；而许家印这些人其实是民营经济的标杆，大家在看着他们，”刘金星认为，如果真把许家印抓了，会在全社会的民营企业家群体中产生一种和政策相反的效应。
值得注意的是，就在两周前（9月16日），许家印下属的恒大金融财富管理深圳有限公司执行董事兼总经理杜亮在深圳被警方抓捕。几乎同一时间，恒大人寿原董事长、现已转任中融人寿代行董事长的朱加麟于9月17日被带走，目前处于失联状态。还有消息称，恒大集团前总裁夏海钧2022年回到中国就被“相关部门”控制起来，恒大集团前首席财务官潘大荣也被控制。财富杂志中文网就此指出，许家印手下四员大将都已被抓。
在这一背景下，许家印本人被警方监视居住，似乎并不显得特别突兀。前中国民营企业家胡力任向本台透露，他从恒大集团内部的职工处得知，许家印实际早已被控制，“现在消息说他被监视居住，实际就是被控制起来了。但他早就被控制了，几年前就被控制了，无法对外联系了，实际上早就失去自由了，就是从2021年开始的。”
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图为位于深圳的恒大总部。2023年上半年，恒大净亏损人民币392.5亿元。（路透社图片）
无解的问题
作为中国最大房地产公司之一的恒大，其债务问题三年来屡见报端，在中国经济界引发强烈震动。早在2020年的9月，网上就流传着一份《恒大集团有限公司关于恳请支持重大资产重组项目的情况报告》，这份文件称，恒大债务率大幅攀升，恳请广东省政府支持其重大资产重组，否则恒大资金链断裂，将引发严重违约，产生金融系统性风险和社会风险。
当时恒大方面出来澄清，说这份文件是假的，辩称公司财务稳健，但市场都已相信，恒大已经深陷债务困境，在苦苦挣扎。后续有关恒大债务困境的消息果然接连不断。截至2022年底，中国恒大负债总额已经达到24374.1亿元人民币。
据路透社的最新消息，一些恒大集团的海外债权人表示，如果恒大不能在10月30日之前提出新的债务重组计划，他们将申请对恒大进行清盘。
但恒大的债务问题只是中国房企债务问题的冰山一角，除了恒大之外，碧桂园、花样年、佳兆业等等中国大型房地产公司，这几年也相继传出债务违约的消息。
房地产公司债务问题在这几年集中爆发，也牵扯出相关责任人的去向问题。目前身在美国佛罗里达州的胡力任告诉本台，许家印的处境并不奇怪，他所认识的多位国内房地产商都因为债务问题被控制；也有精明的房地产商早已出国，把资产转移出来，并且短期内不准备回去。
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美国华盛顿民间机构“信息与战略研究所”所长李恒青则指出，中国政府把许家印这样的房地产商控制起来的做法早已有端倪，但这对于挽救当前中国经济的危局并没有太大的作用，“系统性金融危机已经爆发了，骨牌现在是一个一个地倒，从去年到今年，关于中国的消息这么多，每天应接不暇，没有好消息，全是坏消息。”
他强调，许家印被监视居住衬托着中国经济严重下滑的背景，这只是经济向更坏情况发展的一个征兆，“这就是（经济）垮起来的时候，就像多米诺骨牌倒下在加速，所以现在实际没招。”
中国恒大集团标志（路透社资料图）
经济全局的问题
据国家统计局的数据，1—8月份，全国房地产开发投资76900亿元，同比下降8.8%；商品房销售面积73949万平方米，同比下降7.1%。并且可以看到，去年同期以来，房地产开发投资一直在下降，尤其是今年开年以来，每个阶段的降幅都比上一个阶段在增大。
与此同时，中国整体经济运行的状况也引起外界广泛担忧。据中国国家统计局的数据，除了刚刚过去的8月份实现正增长之外，全国规模以上工业企业利润从去年下半年以来连续下降，外界很多人认为中国经济可能还没有跌到底部。
刘金星认为，中国政府显然是知道经济出了问题，也显示出了要拯救经济的决心，但其经济手段可能未必有效，“就是过去四十年经济上的成功，他们太迷恋所谓宏观政策调控，他认为可以控制住。可是，这么大的经济体量，这种做法却未必是有效的。”
他强调，过去很多年中，中国政府把矛头对准房地产，对房地产进行多种调控，以及三年疫情期间进行的社会管控措施，这些原因才是导致房地产困局，以及经济下行的主要原因。趋势既已形成，虽然近来出台了一些房地产的利好政策，也未必会产生积极影响。
李恒青则担忧，经济下行的趋势继续下去，可能引发大规模的民变。
许家印与多名高层被拿下 当局对恒大收网
中国恒大集团主席许家印（中）、前首席执行官夏海钧（右）、首席财务官潘大荣（左）传都已被当局控制或带走。（中新社）
中国恒大集团主席许家印今天据报已被监视居住，他的得力助手也相继被带走调查，加上恒大的融资管道被官方堵住，债务重组也被搁置，显示中国当局对恒大开始收网，这座摇摇欲坠的金融帝国面临瓦解。
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中国社群21日盛传许家印被抓，他与保镳一度激烈反抗。许家印因此没有出席26日的恒大周例会，改由行政总裁肖恩主持。
陆媒财新英文网24日报导，中国恒大前首席执行官夏海钧、首席财务官潘大荣均已被控制或带走。夏海钧此前是恒大第二号人物。
据知情人士透露，中国恒大集团及其子公司的多名现任和前任高层已接受调查，当局正在调查这家陷入困境的企业集团是否违反资金使用规定。
消息人士称，潘大荣最近被中国大陆当局拘留，夏海钧在2022年中左右返回大陆后也对其实施了限制。两人均负责这家房地产巨头的财务业务，并于去年7月因涉嫌卷入银行存款丑闻而辞职。
在此之前，恒大集团前执行总裁柯鹏今年1月被警方带走调查。他涉及深圳的旧改项目，曾经被视为恒大最重要的“压舱石”。
恒大财富总经理杜亮等人16日被深圳公安采取刑事强制措施；恒大人寿前董事长朱加麟21日传出被调查。这两家公司都被视为许家印的“钱袋子”，为恒大自身或关联的项目提供融资。
陆媒钛媒体昨晚报导指出，夏海钧等人被有关部门控制，是一个非常明显的信号，说明相关部门对恒大的处置，或已到了收网的阶段，即使是以前离职的高管，也难逃其责。
报导指出，恒大的融资管道被堵上，债务重组也被搁置，显示当局开始收网。
中国恒大24日晚间公告称，鉴于恒大地产集团正被立案调查，目前的情况无法满足新票据的发行资格。
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报导指出，中国房企发行票据是有相关规定的，“境内企业境外发行证券和上市管理试行办法”第8条规定，存在五种情形不得境外发行上市，其中之一是“境内企业因涉嫌犯罪或者重大违法违规行为正在被依法立案调查，尚未有明确结论意见的。”
而恒大公告中提到“恒大地产集团正在被立案调查中”，是在今年8月16日收到中国证监会下发的立案告知书，因公司涉嫌讯息披露违法违规，中国证监会决定对恒大地产立案。
报导强调，其实恒大地产被立案调查后，恒大就知道不能发行新票据。无法发行新票据，就是没法再发债借钱，意味着从融资端堵住了恒大的输血管道，也意味着恒大境外债务重组或将以失败告终。
此前，恒大债务重组表决会议一再延后，9月22日直接告称，由于销售情况不如预期，债务重组会议将不会举行。
陆媒北向财经报导也指出，恒大财富负责人杜亮16日被警方采取强制措施；恒大债务重组会议22日被搁置；恒大24日公告无法满足新票据的发行资格，“如同三把利剑，每一把都直指恒大的命门。”
报导指出，短短一周时间，如此密集的动作，表明高层已经下决心要解决恒大的问题。许家印会迎来什么样的结局，其实答案早就已经明了，自从他手下3员大将被抓，一切就只是时间问题了。
报导研判，恒大金融帝国将轰然倒塌，累累废墟之下，是无数普通人的血汗，这一切应该有人负责。恒大的债务问题，极大机率将会以专案或者地区为个体，分拆解决。透过国资或者民企进入，拆分打包，最后分而食之。
来源: RFA/中央社
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Analysts awaiting details of China’s economic performance in the first half of the year, which are due to be released on Tuesday, will be looking to see whether more fiscal stimulus is needed to weather the tariff storms emanating from Washington. While the market largely expects second-quarter economic growth to reach 5 per cent, in line with the full-year target, concerns linger that the rosy headline figure could mask persistent weakness in domestic demand and employment. On top of these...
Read moreAsia is reeling from Trump's tariff salvo – is anyone winning?
The US president has reset the tariffs clock again, leaving Asia's export-driven economies in limbo.
Read more3 Teenagers Arrested Over Cyberattacks That Cost U.K. Retailers Millions
Four people total were arrested in connection with an April cyberattack that disrupted operations at Marks & Spencer, Harrods and Co-op.
Read more‘I cook instant noodles’: anxiety grips China’s workforce amid dire job market
This is the final story in a three-part series exploring the domestic economic challenges China faces as it navigates an unprecedented trade war with the United States. In this piece, we explore the country’s cloudy employment outlook for workers across all sectors, and how truck drivers and high-powered lawyers alike are learning to adjust their expectations. When his chemical company laid off a third of its team, Liang Wang felt a mix of emotions: relief that he was not among them, but dread...
Read moreTrump’s Copper Tariff Threat Leaves Companies Scrambling
President Trump wants America to produce more of the much-needed mineral, but a 50 percent tariff could undermine his aim of a manufacturing renaissance.
Read moreSpace startup Varda raises $187 million in funding to make drugs in orbit
Varda Space Industries announced on Thursday that they have raised $187 million in funding, led by venture capital firms Natural Capital and Shrug Capital.
Read moreWhy China can’t make a clean break from reliance on land and property
Amid a prolonged economic transition, China’s growth engine is shedding its old gears. The heyday of real estate expansion is over. Urban home prices have lost their relentless upwards march and local governments, once flush with land revenues, are confronting fiscal strain. It is tempting to declare this the end of the land finance era, a long-anticipated turning point that will force Beijing to adopt a more sustainable fiscal model. Yet such a conclusion would be premature. For all the...
Read moreCan the Next Fed Chair After Powell Be Independent From Trump’s Influence?
The president hasn’t named a successor to Jerome H. Powell, but his insistence on someone who will lower interest rates has already raised doubts about their credibility.
Read moreDelta’s Stock Soars 12% on Signs of ‘Stabilized’ Travel Demand
The airline reported better earnings than expected for its latest quarter, and restored its forecast for the rest of the year.
Read moreTargeting Brazil, Trump Tests Legal Limit of His Tariff Powers
The president signaled he would seek to use the threat of steep levies to reorient trade and protect his political allies.
Read moreDelta shares jump 11% after airline reinstates 2025 profit outlook as CEO says bookings stabilized
Delta cut its 2025 forecast after tariffs and hesitant consumers hit the brakes on trips this year.
Read more'I can't drink the water' - life next to a US data centre
Residents in rural Georgia say the data centre next door has disrupted their water supply.
Read moreTrump's tariffs on Brazil could make your coffee even more expensive
Coffee companies may try to mitigate the impact of the tariff by sourcing from other countries, but consumers will likely end up paying more for their java.
Read moreFerrero to Buy WK Kellogg in $3.1 Billion Candy-Meets-Cereal Deal
The $3.1 billion acquisition would combine Ferrero, which makes Tic Tacs and Nutella, with the producer of Frosted Flakes and Froot Loops.
Read moreEuropean Union Unveils Rules for Powerful A.I. Systems
Makers of the most advanced artificial intelligence systems face obligations for transparency, copyright protection and public safety. The rules are not enforceable until next year.
Read moreWhen to book and where to stay: Six ways to save money on your summer holiday
Package holidays from the UK to popular destinations are more expensive but there are ways to cut costs.
Read moreVideo Game Actors End Contract Dispute Over A.I.
The actors went on an 11-month strike against the studios behind Call of Duty and other games because of concerns that visual and voice replicas would reduce their work.
Read moreTesla Sets Date for Shareholders Meeting After Protests
The annual meeting will be in November, nearly four months after what is required under Texas law.
Read moreTrump Fuels Fear Among Immigrant Farm Workers in California’s Central Valley
The fertile valley feeds the world. President Trump has thrown farmers and farmworkers there into turmoil, but recently offered them a glimmer of hope.
Read moreThe Briefing Room
As President Trump raises tariffs again, what does this mean for world trade?
Read moreHow family offices are betting on the sports boom from fantasy apps to pickleball courts
The ultra-rich not only own major league teams but also invest in the picks and shovels of sports.
Read moreFerrero to take over US breakfast cereal giant Kellogg
The $3.1bn acquisition is part of a broader expansion by the Italian chocolate company.
Read moreFour arrested in connection with M&S and Co-op cyber-attacks
Three men and one woman - aged between 17 and 20 - have been arrested in London and the Midlands.
Read moreFerrero to buy cereal maker WK Kellogg for $3.1 billion; Kellogg shares jump 30%
The standalone cereal business WK Kellogg began trading in 2023.
Read moreChinese business owners now in US see American dream become reality of hardship
As the US wields tariffs in a bid to lure manufacturers back home, an erratic trade policy, a controversial immigration crackdown and weakening consumer demand have taken the shine off the American dream for some Chinese investors already stateside. On Monday, President Donald Trump postponed the roll-out of a new round of his so-called reciprocal tariffs – originally slated for July 9 – pushing the effective date to August 1. His latest measures include tariffs of up to 40 per cent on imports...
Read moreUS government to invest in rare earths production
The government is to become the biggest shareholder in the US's only operational rare earths mine.
Read moreAndreessen Horowitz Calls for a Delaware Exodus
The investment firm Andreessen Horowitz is moving its incorporation out of the First State, and urging others to follow, as backlash to its courts grows.
Read moreBrazil vows to match US tariffs after Trump threatens 50% levy
Trump's threat is over what he calls the "mistreatment" of his ally, ex-President Jair Bolsonaro.
Read moreThe Bottom Line
What does it take to grow a new enterprise into a multi million-pound business?
Read moreRoyal Mail to scrap second-class post on Saturdays
Regulator Ofcom says fewer second class deliveries will help Royal Mail cut costs.
Read morePlan for electricity bills based on region dropped
Zonal pricing supporters say the proposal would have meant lower bills, but critics say it could have scared off investment.
Read moreChina sees surge in sales of duty-free goods amid inbound tourism boom
Major Chinese cities have reported a surge in purchases of tax-refundable goods by foreign tourists in recent months, as new duty-free rules designed to boost tourism spending begin to pay off. China has introduced a string of measures to make it easier for international tourists to buy goods duty-free in recent months, with visitors now often able to claim sales tax refunds immediately in stores rather than having to queue at the airport. The scheme is part of China’s broader drive to attract...
Read moreSplit in Hong Kong, London’s fortunes is about more than stock markets
In global equity markets, the performance gap between London and Hong Kong has widened dramatically. Once one of the world’s most liquid stock markets, the London Stock Exchange (LSE) has haemorrhaged listings during the past decade and exposed deep-seated problems in Britain’s capital markets. In the first half of this year, fundraising from initial public offerings (IPOs) in London fell to the lowest level since 1995. Hong Kong, by contrast, has staged an extraordinary revival that propelled...
Read moreEU urges China for rare earth access amid US tariffs, growing supply worries
The European Union is facing growing calls to act against Beijing’s dominance over rare earth supply chains, highlighting persistent tensions just weeks before the coming EU-China summit. “Europe faces dual coercion: Trump’s tariffs and more threateningly, China’s strategic chokehold on rare earth exports,” said Bart Groothuis, MEP for Renew Europe, a centrist group in the European Parliament led by French President Emmanuel Macron’s Renaissance party. “This is not collateral damage from the...
Read moreGet your act together, Post Office victims tell Starmer
People harmed in the scandal say they have no faith in the government to speed up compensation.
Read moreWhy the yuan can be safe-haven currency: former bank official flags ‘advantages’
The yuan has the potential to become a safe-haven currency, a former central bank official said while calling for capital-control flexibility and greater efforts to boost foreign participation. The argument – presented before the US Treasury chief rejected the possibility last week of the yuan gaining reserve-currency status – has underscored the ongoing debate over Beijing’s push to internationalise the yuan. And it comes at a time when confidence in the US dollar is being tested by mounting...
Read moreNorth Sea operators 'running out of time' to plug old oil wells
Industry regulator The North Sea Transition Authority (NSTA) has identified a backlog of more than 500 wells that require plugging.
Read moreChina offers subsidy to those hiring unemployed young people
China is stepping up its efforts to stabilise employment and bolster household incomes, as labour market pressures persist amid sluggish economic growth, fierce domestic competition and the trade war with the United States. The authorities will provide a one-off employment subsidy for companies and social organisations that hire unemployed people aged between 16 and 24, the General Office of the State Council said in a circular released on Wednesday. Employers who sign formal contracts and pay...
Read moreHis Start-Up May Not Survive Chaotic Rollout of Trump’s Tariffs
A sourdough baker turned entrepreneur in North Carolina has delayed his new product as he contemplates the prospect that higher costs will doom his company.
Read more‘Whatever they do is wrong’: Chinese exporters trapped by Trump’s Asean tariffs
Chinese exporters like Huang Yongxing are desperate for some straight answers so they can start making and shipping goods from their factories in either China or Southeast Asia. And the answers – or at least updates – that Huang does get, he shares on his social media account via weekly updates that have gained traction among owners of small and medium-sized businesses as disruptive and volatile tariff policies out of Washington continue to redraw the profitability lines for manufacturers. They...
Read moreTrump threatens Brazil with 50% tariff and demands Bolsonaro's trial end
Trump accused Brazil of "attacks" on US tech companies and conducting a "witch hunt" against its former president Jair Bolsonaro.
Read moreTrump Tariffs Aim to Settle Scores With Countries, No Matter Their Size
The president’s tariff announcements suggest he has not backed away from his initial strategy, where even smaller trading partners will face tariffs.
Read morePackage holidays to Spain, Cyprus and Turkey soar in price
The cost of all-inclusive family package holidays to many popular destinations has risen this year.
Read moreNot Invited to Dior’s Show in Paris, a Fashion Influencer Hosts a Watch Party Instead
Denied a seat at Jonathan Anderson’s Dior debut, a fashion critic invited all of Paris to watch it with him at a bar. Hundreds took him up on the offer.
Read moreCan China’s fastest-growing firms save themselves from themselves?
This is the second story in a three-part series exploring the domestic economic challenges China faces as it navigates an unprecedented trade war with the United States. In this piece, we examine the no-holds-barred battles within the country’s emerging industries that have sent prices off a cliff and prompted official comment. Overnight, it seemed China’s power bank industry had run out of juice. It started with a series of high-profile incidents this year, where certain versions of the...
Read moreMicrosoft Pledges $4 Billion Toward A.I. Education
Microsoft said it would provide cash, artificial intelligence tools and computing services to schools, colleges and nonprofit groups.
Read moreFord Says Battery Plant’s Tax Break Survived Republican Attacks
Slight changes to the big policy bill left the factory’s tax credits intact, according to the carmaker, which will use the batteries to make more affordable electric vehicles.
Read moreHead of S.E.C.’s Crypto Task Force Says ‘Tokenized’ Stocks Are Securities
Hester M. Peirce said in a statement Wednesday that digital versions of stocks are still subject to federal securities laws.
Read moreSenate Confirms Bryan Bedford to Lead FAA
The agency is under pressure to modernize outdated air traffic control systems that have contributed to a series of outages, near-misses and deadly accidents in recent months.
Read moreHertz and Other Rental Car Agencies Turn to AI for Damage Detection
Hertz and other agencies are increasingly relying on scanners that use high-res imaging and A.I. to flag even tiny blemishes, and customers aren’t happy.
Read moreEli Manning says he's no longer interested in buying a piece of the NFL's Giants: 'It's too expensive for me'
Manning said he doesn't have interest in buying a stake in any other NFL team and that he believes the Giants are deserving of a $10 billion valuation.
Read moreThune Says Russia Sanctions Vote Could Come as Soon as This Month
Momentum has been building behind a bipartisan bill to impose sanctions on countries that purchase Russian oil, as Republicans work behind the scenes to win President Trump’s support.
Read moreMortgage lending rules change could help first-time buyers
The Bank of England has recommended a looser cap on riskier lending.
Read moreLinda Yaccarino departs as boss of Musk's X
Her exit comes at a difficult time for Musk who, in a brief reply, thanked her for her "contributions."
Read moreFed Minutes Underscore Divisions Over Pace of Interest Rate Cuts
The U.S. central bank’s decision to hold interest rates steady in June was unanimously supported, but officials were starting to splinter over the path forward.
Read moreHeathrow to pipe 'sounds of an airport' around airport
The airport has commissioned a soundtrack recorded on site to reflect the "excitement" of waiting to board a flight.
Read moreBullying, anorexia, trauma - how the Post Office scandal hurt children
The children of wrongly-accused subpostmasters faced trauma and hardship but are now being promised compensation.
Read moreTrump’s Trade War Roils the Copper Market
Futures contracts hit a record price after the president announced plans for a 50 percent tariff on the metal, driving up costs for businesses.
Read moreBessent Steps Up Criticism of Fed as Auditions for Chair Intensify
The Treasury secretary is breaking with tradition in publicly assailing the central bank’s policies as President Trump looks for its next leader.
Read moreWhat Happened to Tesla’s Annual Shareholders Meeting?
A group of state treasurers and investors is complaining that the company, facing falling sales, is about to miss a legal deadline to hold a shareholder forum.
Read moreEU hopes to agree US tariff deal 'in coming days'
The EU remains hopeful it will strike a deal to avoid steep levies Trump has threatened on its exports to the US.
Read moreBarbie Launches Doll With Type 1 Diabetes
The doll pairs a blue polka-dot outfit with an insulin pump and continuous glucose monitor.
Read moreHims & Hers to offer generic semaglutide in Canada as Novo Nordisk patent lapses
Novo Nordisk will lose its patent protection on its branded semaglutide drugs Ozempic and Wegovy in Canada after not paying a maintenance fee in 2019.
Read moreTrump Treats Tariffs More as a Form of Power Than as a Trade Tool
Instead of viewing tariffs as part of a broader trade policy, President Trump sees them as a valuable weapon he can wield on the world stage.
Read moreChina pledges to build megaprojects despite pivot to domestic consumption
China will continue to “scientifically” plan and build megaprojects while maintaining its “investment intensity” over the next five years, officials said – even as Beijing seeks to shift to a more consumption-driven growth model. “To further drive economic development and improve people’s livelihoods, it is essential to maintain a certain scale of investment,” said Li Chunlin, vice-chairman of the National Development and Reform Commission (NDRC), the country’s top economic planner, at a press...
Read moreChinese EV maker Zeekr plugs in to hybrids to tap into soaring sales
Zeekr, a premium electric vehicle (EV) unit of Geely Auto, has jumped on the hybrid technology bandwagon to widen its customer base amid rising competition in the world’s largest automotive market. The Hangzhou-based company has become the latest mainland Chinese EV assembler to launch plug-in hybrids, leaving Shanghai-headquartered Nio as the only domestic company making pure EVs. US carmaker Tesla, which produces cars on the mainland, is another maker of pure EVs. “Nearly all Chinese carmakers...
Read moreSurprise US copper tariff tests the mettle of China’s vast refining industry
Shockwaves from Washington’s decision to impose a 50 per cent tariff on copper imports are still rippling across the Pacific, and China, the world’s largest consumer of the metal, is feeling the effects. Copper futures traded in the US rallied on the tariff threat, expanding a price gap with the London and China markets, where prices fell. The most active copper futures contracts traded on the Shanghai Futures Exchange fell by 1.36 per cent on Wednesday following US President Donald Trump’s...
Read moreUS ‘remains dependent’: why China’s rare earth dominance is far from over
China is expected to maintain a strategic edge over the United States in the rare earth industry, thanks to Beijing’s long-term investments in advanced mining and processing technologies. In contrast, the US is paying the price for decades of underinvestment, obsolete policies and the absence of a coherent strategy, according to a report by the New York-based think tank Strategy Risks. The warning came as Beijing increasingly leverages its dominance in the global rare earth supply chain –...
Read moreChina’s lead in global shipbuilding may already be fading, new data suggests
China’s dominance of global shipbuilding appears to have been eroded over the past six months, according to the latest industry data, suggesting that US efforts to rein in the country’s shipyards may be starting to bite. China has been by far the world’s largest shipbuilder for years, but its shipyards saw new orders plunge 68 per cent year on year to 26.3 million deadweight tonnes in the first half of 2025, according to a Monday report from maritime consultancy Clarksons Research. South Korea,...
Read moreChina’s consumer prices edge up in June, but deflation worries persist
China’s consumer prices rose for the first time in five months in June, but the modest gain still pointed to persistent weak demand in the world’s second-largest economy amid an unprecedented trade war with the United States. The national consumer price index (CPI), a key gauge of inflation, rose 0.1 per cent year on year last month, according to data released by the National Bureau of Statistics on Wednesday. The reading came in above a forecast of a 0.03 per cent drop provided by the financial...
Read moreChina spins up offshore wind energy as Beijing promotes marine economy
China has ramped up offshore wind energy development, as the form of renewable energy aligns with Beijing’s goals of carbon neutrality, energy security and developing the marine economy to boost economic growth. China added more than 4.4 gigawatts (GW) of offshore wind capacity in the first six months of the year, the same amount it added in all of 2024, according to a report by the non-profit Global Energy Monitor (GEM) on Wednesday. The report said the country was expected to add at least 9GW...
Read moreChina tried to cut lavish spending. Now some officials fear ordering coffee
This is the first story in a three-part series exploring the domestic economic challenges China faces as it navigates an unprecedented trade war with the United States. In this piece, we explore Beijing’s drive to rein in wasteful government spending – and its unintended consequences. Wang, a civil servant from a small town in northeastern China, is too scared to go to restaurants these days. He even skipped his niece’s wedding due to his fear of being seen at a banquet. An avid foodie, the...
Read moreTSA will let travelers keep their shoes on at airport security checkpoints
TSA briefed industry members about the change on Tuesday.
Read moreTrump threatens to impose up to 200% tariff on pharmaceuticals 'very soon'
Trump suggested that those levies would not go into effect immediately, saying he will "give people about a year, year and a half"
Read moreWendy's CEO Kirk Tanner tapped to lead Hershey
Wendy's CEO Kirk Tanner has been named the new chief executive of The Hershey Company, effective Aug. 18.
Read moreFile on 4 Investigates
Helen Catt investigates commissions in the world of car finance.
Read moreSome international LGBTQ+ travelers pull back on U.S. trips: 'Why would I go there?'
Despite some pullbacks in corporate sponsorships, pride organizations across the U.S. said attendance is still strong.
Read moreChina steps up economic monitoring, looking to head off worst-case scenarios
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...
Read moreBoeing delivers most airplanes since late 2023 after ramping up 737 Max output
Boeing handed over 60 airplanes last month, the most since December 2023.
Read moreEast Asia faces fresh US tariffs, China rare earth curbs: 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. Apparently impatient Trump slaps 25% tariffs on Japan, South Korea US President Donald Trump, apparently impatient with the slow progress of negotiations, on Monday slapped 25 per cent unilateral tariffs on Japan and South Korea and equal or higher import taxes on several other nations ahead of a self-imposed Wednesday deadline. 2. Rare earth dominance: why...
Read moreChina to speed up bullet-train connectivity with neighbours
China will further enhance connectivity with other countries by expanding its high-speed railway network, a senior politician pledged on Tuesday. The country intends to promote both the “hard connectivity” of infrastructure and the “soft connectivity” of standards and rules to position high-speed rail as a cornerstone for advancing the nation’s Belt and Road Initiative, Vice-Premier Zhang Guoqing said at the opening ceremony of the 12th World Congress on High-Speed Rail in Beijing. “China is...
Read more‘Pressure and division’: why Trump’s 14-nation tariff package puts China on edge
When US President Donald Trump signed an executive order on Monday to extend a pause on “reciprocal” tariffs until August 1, it offered little comfort to China. Instead, Beijing’s policymakers may feel increasingly cornered, as Washington also moved to target 14 countries – many of them China’s close trading partners – with tariffs of up to 40 per cent. This came despite breakthrough talks in London that laid the groundwork to remove most bilateral export controls – from China’s rare earth...
Read moreWhy East Asian integration could be the solution to US tariff threats
Just ahead of the July 9 deadline to reach an agreement on tariffs, US President Donald Trump announced his decision on the tariffs levels for 14 countries – including a rate of 25 per cent on Japan and South Korea – effective August 1. Trump accused Japan of not buying enough rice and cars from the US. It’s worth noting that the American car industry is simply not competitive in Japan. Germany, Japan and China are the top three auto exporters. Those countries, along with South Korea, have...
Read moreRare earth dominance: why China still holds the cards despite global pushback
Beijing’s recent export controls on rare earths have spurred a flurry of international efforts to diversify supply chains and reduce China’s long-standing dominance in critical minerals. In June, the Ministry of Commerce announced that it would approve qualified export applications and was open to discussions with other countries regarding the restrictions. But as rare earths emerge as a new front in the US-China rivalry, companies worldwide have announced plans for a string of projects designed...
Read moreHow can China boost consumer spending? Here are 5 ideas being floated in Beijing
China has made boosting consumer spending a key policy priority in recent months, as it tries to rebalance its economy away from a reliance on exports and offset the impact of an unprecedented trade war with the United States. The country has launched a massive trade-in programme for consumer goods that has succeeded in driving up sales of everything from cars to smartphones, but there are signs that the policy is starting to lose momentum and deflationary pressure continues to affect the...
Read moreWhy little Lithuania has big plans for space tech
Lithuania has a promising space tech sector, but it wants more government support.
Read moreChina could embrace universal basic income as AI takes jobs
It may seem far-fetched to suggest that China should consider implementing a universal basic income at this time, as authorities appear to be unenthusiastic about the idea. In the past, Chinese officials have rejected proposals to distribute cash to households, even when many families were clearly in need of support. But while the term universal basic income has yet to appear in any official Chinese policy documents, it may become less foreign in the coming years because of the increasing...
Read more‘Historic opportunity’: why China is betting on a poor province in trade war
The 2025 trade war launched by the United States is shaping up to become a watershed moment for Chinese policymakers. While the country’s economic resilience and role at the centre of global supply chains helped secure a 90-day truce with Washington, Beijing is digging deep to fight a protracted conflict. The forthcoming Five-Year Plan – China’s signature development blueprint – is expected to fortify the domestic economy in the pursuit of global leadership. Provincial leaders are seizing...
Read more'F1' is Apple's highest-grossing theatrical film ever
Apple's "F1: The Movie" nears $300 million at the global box office, the highest-grossing haul of a film ever released by the studio.
Read moreFamily offices ramp up deal-making in June with bets on biotech
A biotech startup backed by former Google CEO Eric Schmidt raised $56 million from investors including the billionaire family office that supported BioNTech.
Read moreChina’s visa-free policy pays dividends as overseas entries soar in 2025
China’s expansion of visa-free entry to nationals from dozens of countries appears to have yielded substantial results, with tourists arriving in droves from overseas and providing a much-needed boost to the country’s consumption in the first half of the year. Shanghai, the country’s financial hub, saw 2.6 million visits from abroad in the first six months of 2025, up 44.8 per cent year on year according to local authorities. About 1.4 million of them entered China under a visa-free policy, more...
Read moreHow Netflix keeps luring big-name directors away from the traditional box office
Directors like Rian Johnson, Greta Gerwig and Guillermo del Toro are working with Netflix thanks to lucrative contracts, creative freedom and a big audience.
Read moreChina urged to take bolder steps to tackle price wars, deflation and weak demand
Beijing’s latest push to curb price wars may help ease deflationary pressures, but analysts warn the current measures fall short of addressing deeper structural problems facing the world’s second-largest economy. China’s GDP deflator – a broad measure of prices across goods and services – has been negative since the second quarter of 2023, while consumer prices have fallen for four straight months year-on-year. To stop the deflationary spiral, Chinese authorities should address the cause: weak...
Read moreHow China’s C919 aircraft could win big from revived US jet engine exports
China is expected to sustain production of its home-grown aircraft and expand access to foreign skies, following the United States’ removal of a ban on selling American jet engine parts and technology to Chinese buyers. But analysts cautioned that earlier export restrictions imposed by the Trump administration had a chilling effect – one that could harden Beijing’s resolve to accelerate the development of indigenous engines and other critical components. Sales resumed last week after a bilateral...
Read moreAustralia’s Albanese to address Darwin Port sale on China visit
When Australian Prime Minister Anthony Albanese arrives in China next week for his second official visit, he will have more than the typical diplomatic niceties to discuss with President Xi Jinping. A major task on Albanese’s agenda, besides routine topics like trade, will be to explain his country’s stance on Chinese investment – in particular, addressing the controversy over the ownership and potential government-influenced sale of the Darwin Port – the Post has learned from sources with...
Read moreWhy France is toasting China’s new tariff on European brandy
China’s new anti-dumping duty targeting European brandy unexpectedly became the toast of France over the weekend, after Beijing granted exemptions to a string of French cognac makers. The cordial reaction in Paris came as a surprise to many analysts, who had initially predicted that China’s decision to impose the tariff might further raise tensions with the European Union and sour preparations for an upcoming leaders’ summit in Beijing. But French leaders ended up hailing the ruling as a...
Read moreTariffs are shifting global supply chains
Trump's 90-day pause on his sweeping tariffs plan is about to expire. But already some firms are radically changing how they work.
Read moreWhy Chinese investors can still expect a warm welcome in many US cities
Most local government officials in the US still welcome Chinese-invested projects despite a rise in trade tensions this year, a Chinese chamber of commerce leader said this week as potential investors weigh up economic benefits and geopolitical risks. City leaders want Chinese investment to help stimulate their local economies, especially in manufacturing projects that are hard to source elsewhere, said Ni Pin, chairman of the China General Chamber of Commerce branch in Chicago. “There are a lot...
Read moreWill China’s bid to boost domestic demand pay off?
At the World Economic Forum’s “Summer Davos” meeting in Tianjin last month, Premier Li Qiang said that China is evolving into a “mega-sized consumption powerhouse”. This was more than a rhetorical flourish. It marked a reaffirmation of Beijing’s long-standing ambition to change its growth model, placing domestic demand, rather than exports or real estate, at the heart of the economy. This vision is not new. Policymakers have been talking about rebalancing for over a decade. But the timing of...
Read moreChina to power grid with record renewable energy as AI spurs demand
China expects to add a record 500 gigawatts (GW) in renewable energy capacity to its national grid this year as the rapid rise of artificial intelligence (AI) increases demand for electricity to power computing centres. According to a report from the State Grid Energy Research Institute on Friday, over a quarter of that new capacity – or a record 140GW – will come from wind power, a source of energy that US President Donald Trump has suggested China does not use. “They make about 95 per cent of...
Read moreKFC, Pizza Hut operator Yum China adopts AI to spur efficiency, profitability
Yum China Holdings, the operator of KFC and Pizza Hut restaurants in mainland China, will further embrace artificial intelligence (AI) to improve operating efficiency and profitability and allow its store managers to focus on customer service. The firm, which introduced its Q-Smart AI-powered assistant in June, was expected to help reduce waste, improve quality and save labour costs, chief technology officer (CTO) Leila Zhang said in an interview. The AI-powered system could help with staff...
Read moreParty at sea: why young Chinese have fallen in love with cruise ship holidays
After graduating from Fudan University’s prestigious MBA programme this year, Dong Wenxin wants to keep in touch with his fellow students. The 30-year-old figured many former students probably felt the same way – eager to reconnect even when scattered across China. Living in Shanghai, a major global port city with regular cruise ship departures, gave him an idea. Dong saw business potential in organising group trips that would bring former students back together for quality time at sea. Over the...
Read moreTrump wants to ground China’s drones – but have they flown too high to reach?
US President Donald Trump issues quite a few executive orders. So many, in fact, that one could be forgiven for not keeping up with them all. But amid the rapid-fire policy changes that have come to characterise his administration, one arrived last month that could have drastic implications for the world’s drone market – and China’s role in it. The order, signed June 6, requires government agencies to prioritise using home-grown unmanned aircraft systems (UAS) “to the maximum extent permitted by...
Read moreLabour might be down, but it's not necessarily out - voters reflect on a year in power
What’s gone wrong for Labour? 2024 voters delve into it, writes Laura Kuenssberg.
Read more‘It’s harder for us’: young Chinese struggle to compete in harsh UK job market
After finishing her master’s degree in education last December, Harley Hu began looking for a full-time job in the United Kingdom. The search proved to be far more gruelling than she had expected. “I sent out maybe 200 or 300 CVs,” the 25-year-old told the Post. “It took half a year to find something stable.” After six months of juggling part-time work as a Chinese language tutor, Hu has now secured a full-time role in teaching. But the job only provides a temporary respite, as her employer does...
Read moreFast-casual restaurants lean on loyalty programs to offset consumer pullback
Brands like Chipotle, Starbucks, Cava, and others are leaning on rewards to keep customers coming back and to build habits that go beyond the occasional coupon.
Read moreSolar energy milestone: China taps the ocean in breakthrough for industry
China has launched a fully seawater-based solar energy system – the first of its kind suitable for industrial use and large-scale power production – as part of broader efforts to expand renewables in coastal regions, boost the maritime economy and drive industrial innovation. Located in Qingdao, Shandong province, the floating solar station builds upon another offshore photovoltaic power generation project launched in late May. Together, they form the largest initiative of its kind by Sinopec,...
Read moreSouth Korea, Japan step up as US targets China’s shipbuilding – can they succeed?
As the United States vows to curb China’s dominance in shipbuilding – despite its domestic capacity being nearly nonexistent – South Korea and Japan are looking to benefit from the rivalry and reclaim their competitive edge. South Korea’s president, Lee Jae-myung, who took office a month ago, campaigned on supporting the industry – which he described as being “in major crisis”. “Shipbuilding has been a core industry driving Korea’s exports and creating jobs,” he said in a social media post on...
Read moreFrom mustard makeovers to beef tallow, six food and beverage trends that could take over
The Summer Fancy Foods Show, hosted by the Specialty Foods Association, returned to the Jacob K. Javits Convention Center in New York.
Read moreWhat have tariffs really done to the US economy?
As President Trump weighs tariff plans, he will have one eye on the US economy.
Read moreTop five tax changes for the wealthy in Trump's 'big beautiful bill'
Taxpayers earning $1 million or more are expected to see a boost in after-tax income of about 3% under Trump's megabill.
Read moreRetailers avoided a worst case scenario in Vietnam. But executives say Trump's trade deal could still hit consumers
Vietnam was the retail industry's backup plan when Trump first imposed duties on China, so some executives are relieved to see a potential deal with 20% levies.
Read moreEssence Fest leads a summer of events for Black entrepreneurs galvanized by economic uncertainty
Essence Fest kicks off on Friday, with roughly 500,000 people attending the event in New Orleans. It generates around $1 billion in economic activity.
Read moreAirlines face investors after strong— but cheaper — July 4 holiday
Major airlines pulled their 2025 forecasts earlier this year, blaming economic uncertainty.
Read moreFourth of July barbeque prices have risen since Trump imposed tariffs, congressional analysis says
Americans may spend more on barbeque items such as beer and outdoor chairs at their Fourth of July celebrations this year, according to a congressional report.
Read moreWhy the world's superyachts are getting bigger and bigger
Billionaires and multimillionaires around the globe are trading up for more space and luxury.
Read moreThe bridge changing lives and boosting business
The Öresund bridge, which connects Denmark and Sweden, is celebrating 25 years since its opening.
Read moreThe global environmental award hit by accusations of greenwashing
US business Dr Bronner's has criticised the B Corp scheme for allowing in too many multinationals.
Read moreBoeing's 787 Dreamliner was deemed the 'safest' of planes. The whistleblowers were always less sure
Long before the Air India tragedy, the cause of which is still to be determined, people who had worked on the 787 had raised concerns about the production standards
Read moreWhy your old mobile phone may be polluting Thailand
The Asian nation is importing thousands of tonnes of electronic waste per year, despite a ban.
Read moreChina's electric cars are becoming slicker and cheaper - but is there a deeper cost?
The future for EVs will inevitably involve China. But where does that leave the UK and Europe markets – and what of the questions around national security?
Read moreThe secretive US factory that lays bare the contradiction in Trump's America First plan
An exclusive look inside the closely guarded factory the president wants to become a foundation stone for a US golden age.
Read moreXi's real test is not Trump's trade war
The real battleground of the current trade war might be China's domestic economy
Read moreThe curious case of why a billionaire wants to buy Royal Mail
From the end of April, the 500-year-old Royal Mail will be controlled by Czech billionaire Daniel Kretinsky who co-owns a football club - but why does he want it?
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