China’s services activity expanded at its fastest pace in 33 months in February, underpinned by firmer demand including a pickup in overseas orders, reports Reutersciting a private-sector survey. The expansion came as rising costs also pushed output prices to their highest in 21 months. The RatingDog China General Services PMI, compiled by S&P Global, rose to […]
Category: Consumer
Major carmakers in China have launched a new wave of price cuts and financing incentives immediately after the Spring Festival holiday, reports Caixin. Manufacturers aim to clear excess inventories as sales slow in the world’s largest auto market. SAIC General Motors’ Buick brand said Thursday that it would lower prices on multiple models by RMB 5,000 […]
Baidu posted a 42% drop in profit for the fourth quarter of 2025, reports Caixin. The drop comes as its aggressive pivot toward AI is eating away at its core advertising business faster than it can generate new growth. The Beijing-based search giant reported a 4.1% year-on-year decline in revenue to RMB 32.7 billion ($4.7 billion) […]
iQiyi’s net profit sunk 81% in 2025, reports Caixin. This comes as the Chinese video-streaming company grappled with a shortage of blockbuster titles and intensifying competition from short-form video platforms. The Nasdaq-listed firm reported a 7% decline in full-year revenue to RMB 27.3 billion ($4 billion). All major revenue streams contracted in 2025. Membership services, the company’s […]
Richard Liu, founder of China’s retail giant JD.com, has launched a nautical brand to build out the country’s yacht industry, reports the South China Morning Post. The brand aims to ride a wave of policy support to tap a fast-growing domestic market and make the vessels–traditionally associated with affluence and luxury–accessible to “everyday consumers”. Liu’s brand, Sea […]