It’s still two weeks away, but it seems like it’s tomorrow in terms of the significance of the G20 meeting coming up at the end of the month and the possible meeting between Trump and Xi that may result in a possible truce or not in the trade war. It’s a risk to place a […]
Category: Consumer
Rising e-commerce platform Pinduoduo, which gained a $33 billion valuation after its debut earlier this year, has been accused of fixing financial reports, according to a report by a US activist fund. The Tencent-backed company, which has faced previous scandals involving the listing of counterfeit goods on its website, was called out in a 42-page […]
China’s growing taste for luxury goods is forecast to constitute half of the global market by the year 2025, according to a recent report by management consultancy Bain. Worries have been cast over how China’s luxury industry will fare in the face of a US trade war and slowing demand in the world’s second largest […]
Chinese tech powerhouse Tencent surprised with a 31% rise in profits in the third quarter on the back of strong growth in its advertising, mobile payments and cloud services businesses, which compensated for a lull in game sales, the Financial Times reports. The company posted net profits of Rmb 23.3 billion ($3.3 billion), compared with […]
Chinese economic data released yesterday showed that key metrics such as industrial output and investment beat expectations last month, but retail sales fell to a five-month low as the economy continues to face pressures on demand. Industrial output grew 5.9% in October, according to the National Bureau of Statistics, surpassing estimates from a Reuters poll […]