China’s largest private education company in terms of market value has begun offering leisure courses such as dance and photography for older adults in Beijing, reports the South China Morning Post. This comes as it pivots towards the country’s fast-growing silver economy. Since a ban on for-profit tutoring in core academic subjects in 2021, New Oriental […]
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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 […]
A contract held by a Hong Kong company to operate ports at the Panama Canal was found to have violated the Panama constitution and not serve the public interest, reports Reuters. The country’s Supreme Court decision therefore voided the deal made in the 1990s. The court issued its verdict on Thursday, but it did not formally […]
China’s factory activity faltered in January as weak domestic demand dragged down production at the start of the new year, reports Reuters, citing an official survey by the purchasing managers’ index (PMI). The PMI dropped to 49.3 in January, from 50.1 in December, below the 50-mark separating growth from contraction. Sub-indexes of new orders and new export […]
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 […]