The new year has begun with renewed talk from Beijing of boosting consumption—that is, getting people to buy stuff—but all signs appear to be heading the other way. The latest news, for example, includes a continuation of the property sector slump with January sales figures from the 100 largest developers down 27% from a year […]
Category: Consumer
More foreign companies have rolled out instant delivery services exclusively for China or upgraded to more comprehensive offerings in the country, reports the South China Morning Post. This comes as they vie to stand out in the highly digitalized market and cater to consumers’ strong demand for instant services. Multinationals offering instant delivery now include Swedish […]
China’s top market regulator has fined a subsidiary of short-video giant Kuaishou Technology RMB 26.7 million($3.8 million) for a range of violations, reports Caixin, including inflating sales data and enabling the illegal trade of wildlife products. The State Administration for Market Regulation (SAMR) on Friday imposed the penalty on Chengdu Kuaigou Technology, a wholly owned e-commerce […]
Labubu toymaker Pop Mart plans to establish its European headquarters in London, reports the South China Morning Post. This came as UK Prime Minister Keir Starmer met the company’s founder during a high-profile China visit aimed at rebuilding Britain’s economic ties with China. “London stands at the heart of the global creative ecosystem, and we are thrilled to plant our European roots there,” Wang said in a […]
Chinese liquor stocks rallied sharply Thursday, led by Kweichow Moutai, reports Caixin. This came about as recovering wholesale prices and robust pre-Lunar New Year demand reignited investor confidence in a sector that had been in decline for more than a year. Shares of Kweichow Moutai surged 8.61%, while the CSI Liquor Index climbed 9.79% to close […]