Northern regions across China are introducing “snow breaks” this winter as part of broader efforts to stimulate domestic tourism and spending amid deflationary pressures. Northeastern Jilin province is the latest to announce the initiative, with plans to give primary and secondary school pupils a short holiday from Wednesday to Sunday. The additional days off will not shorten the traditional winter and summer holidays, the local government said. Government agencies, enterprises and public...

Some of China’s affluent middle class is unwinding bets on Japan, cashing out in real estate and shelving migration plans as a diplomatic stand-off invites a wait-and-see mood on the once-hot destination for capital and talent. The reversal follows escalating tensions sparked by Japanese Prime Minister Sanae Takaichi’s remarks on Taiwan last month. Intermediaries report a surge in profit-taking on property and rising pessimism over immigration, with the chill extending to business visits and...

China’s most effective tool to revive consumption may be the simplest: a one-off distribution of 3,000 yuan (US$424) per person – funded by special sovereign bonds and valid for one year – could immediately lift demand, boost gross domestic product growth and help break the deflationary cycle that has taken hold since 2022. This proposal comes as China prepares to announce its 15th five-year plan, with policymakers expected to target around 5 per cent growth amid a sluggish post-pandemic...

China State Ship­building Corp (CSSC), the world’s largest shipbuilding conglomerate controlling one-third of the global market, has pledged to build more cruise ships, deep-ocean drilling ships and nuclear-powered vessels as part of efforts to diversify its portfolio, according to a senior executive. Assistant president Ma Yunxiang said on Monday the company’s growing strength in building advanced vessels was reflected in the construction of Adora Flora City, mainland China’s second self-built...

Roughly one-third of European companies in China affected by Beijing’s expanding export control regime intend to diversify their supply chains, with firms concerned about supply chain disruptions, long delivery delays and rising costs, a new survey has found. The European Union Chamber of Commerce in China found in a flash survey of 131 member companies that more than half expected to be hit by Chinese export controls, with the group calling for policymakers to find a long-term solution to...

HSBC, whose relatively bullish view on China’s residential property sector ranks as one of the bravest calls in markets, said in February that 2025 would mark an inflection point for the ailing industry. “We’ve long anticipated government intervention, pent-up demand and a necessary market correction to drive a gradual recovery in property sales – and we’re seeing signs of all of that playing out now,” HSBC said at the time. These green shoots, however, were confined to first-tier cities and had...

China’s state-asset watchdog has urged the country’s state-owned enterprises (SOEs) to act as an anchor for strategic industries, while also calling for a predictable, level playing field for private firms – a combination it said was essential for building world-class businesses. Zhang Yuzhuo, chairman of China’s State-owned Assets Supervision and Administration Commission (SASAC), outlined Beijing’s latest push to strengthen both the state and private sectors in an article published on Monday...