As the Lunar New Year holiday approaches, Chinese internet and tech giants are handing out enormous amounts of cash in the form of digital red envelopes to lure new users of their artificial intelligence (AI) apps, reports Caixin. Following the Chinese tradition of young people receiving red envelops stuffed with cash from their elders, China’s internet […]
Category: Consumer
China’s Anta Sports Products said on Tuesday it would buy a 29.06% stake in Puma for €1.51 billion ($1.79 billion), reports Reuters. The deal will make it the biggest shareholder in the German sportswear maker. The Hong Kong-listed company will pay €35 per share in cash for 43 million Puma shares, Anta said in a stock exchange […]
China’s smartphone market contracted in 2025, as the momentum from government consumption subsidies dissipated in the second half, reports Caixin. The downturn underscores the fragile state of consumer electronics demand in the world’s largest smartphone market and signals a challenging year ahead, with memory costs set to climb steeply. Smartphone shipments in the China market fell […]
Beijing is planning to introduce new measures to promote the consumption of services, betting that elderly care, healthcare and leisure can offset tepid demand for goods, reports Reuters, citing an unnamed policy advisor. Analysts say the plan’s success hinges on elevating household incomes and social welfare. Beijing views labor-intensive services as a key to reorienting its economy […]
PDD Holdings’ share price saw its seventh consecutive drop on Tuesday, pushing its market capitalization below $150 billion, as concerns grow over the intensifying regulatory scrutiny of its cross-border e-commerce platform, Temu, reports Caixin. The stock has shed more than 30% of its value since a November 2025 peak, as Temu’s growth trajectory hits turbulence in […]