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Consumers

Consumers
News about consumer spending and shifting shopping habits from around the world with a focus on developments in Hong Kong and mainland China.
last updated:
27 August, 2024
Flower prices are down in southern China ahead of the Lunar New Year holiday as a mild winter and weak consumption weigh on retail profits. Photo: Xinhua
Lunar New Year

Bloom and gloom: China’s Spring Festival flower sales hit by dim demand, weather

Lunar New Year botanical fairs see stall costs and plant prices plunge amid consumption woes in lead-up to holiday, boding poorly for domestic demand.

Banking & finance

How to make it in America: pressures, pitfalls for China consumer firms going global

China's economic recovery

Pet healthcare booms in China as furry friends outnumber infants and toddlers

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China's economic recovery

Shanghai issues more consumption vouchers after shock fall in retail sales

The Chinese economic hub saw retail sales decline for only the second time in 40 years in 2024.

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Retail sales in Shanghai fell for only the second time in more than 40 years in 2024, as consumers continue to rein in spending. Photo: EPA-EFE
Nongfu Spring

Billionaire founder of China’s Nongfu Spring pledges to end price war

Low prices are destroying the quality of Chinese products and undermining the economy, tycoon says.

China economy

Opinion | Stimulus will boost China’s economy, but for how long?

Fiscal and monetary policies can only go so far. In the longer term, China’s economy will need to undergo a more fundamental transition.

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Chinese tourists

Thai PM’s AI video aims to calm Chinese tourists’ nerves as bookings dip

Abduction of Chinese actor Wang Xing sent shock waves through Thailand’s tourism industry, which relies heavily on travellers from China.

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A tourist takes a selfie during an underwater dragon dance show in Bangkok, Thailand, last Thursday. Photo: Xinhua
China trade

China breaks durian import record as Vietnam, Malaysia nip at Thailand’s heels

In a year that saw China import US$7 billion of the fruit – a record – upstarts Vietnam and Malaysia are eyeing Thailand’s top spot.

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Hong Kong

Editorial | Illegal cross-border services do not pay

Arrest of rogue Hong Kong tour guides from mainland China and clamp on so-called reverse purchasing are to be welcomed.

China inflation

Why are Chinese provinces ditching ‘legacy’ 3% CPI target for 2025?

China is facing a rocky road to reflation after its actual CPI growth stayed far below annual control targets, and regional governments appear less hopeful that consumer demand will markedly rise this year.

Consumers examine blind boxes at a Pop Mart store in Beijing. The nation’s consumer price index target has increasingly become an indicator of demand. Photo: Xinhua
Banking & finance

China’s consumer sentiment nears ‘tipping point’ on stimulus: UBS

Domestic brands and private labels stand to benefit as households save less and spend more, Swiss bank says.

A sales clerk works at a clothing store in a shopping mall in Beijing on January 13, 2025. Photo: EPA-EFE
Thailand

Sweet surrender? The Thai sugar farmers being pushed to the brink

Farmers say they feel besieged as global price collapse, Chinese ban on syrup imports and government’s fight against air pollution add to dilemmas.

Electric & new energy vehicles

China’s EV sales stumble off the line in 2025, raising profit concerns

Deliveries of electric and plug-in hybrid cars on the mainland fell 50 per cent month on month to 206,000 units in the first 12 days of the year.

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E-commerce

JD.com introduces gifting feature after Alibaba and Tencent

The Beijing-based tech giant has jumped on the latest trend in China’s e-commerce sector: online gifting.

A logo of JD.com is seen on a helmet of a delivery man in Beijing. Photo: Reuters
China's economic recovery

Minimum wages being raised across China in effort to boost spending

Sizeable middle- and low-income groups seen as key to expanding domestic demand and stimulating economic growth.

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Shoppers select toys at a store in a Beijing shopping mall last month. Photo: Xinhua
Malaysia

Ham sandwich scandal exposes tensions over halal certification in Malaysia

The discovery of a sandwich with a fake halal label at a convenience store has ignited outrage and debate over certification standards.

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Alibaba

Chinese firms face harsh reality amid geopolitical tensions: Alibaba co-founder

Current geopolitical environment is the most unfriendly ever, Alibaba co-founder and chairman says.

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China's economic recovery

From toys to trading cards, China’s ‘goods economy’ drives generational spending

Cute and playful collectibles are a trillion-yuan industry in China, and their impact on commerce is expected to continue surging.

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LuLu the Piggy toys are among a growing market featuring collectable figurines. Photo: Instagram/luluthepiggy_official
Hong Kong stock market

Pop Mart’s Labubu: From Blackpink fave to fading frenzy

Elfin character loses value on speculative market, but gives investors faith in Pop Mart’s formula for monetising intellectual property.

Climate change

Outside In | The industry is in crisis, but wine lovers should hold their panic

The future looks dire with consumption pivoting away, especially in China and France, and grape growers worldwide hit by climate change, but the wine sector is a long-term sector.

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China's economic recovery

Chinese cadres urged to splash the cash to boost consumption

District party chief in Chongqing says family members deserve new clothes, while authorities in Beijing expand appliance trade-in scheme.

Women shop at a clothing store in Beijing last month. Photo: EPA-EFE
China-Russia relations

Can China’s consumers bear a glut of phoney Russian goods?

Spurred by stronger trade relations, stores selling Russian products have popped up in China – but many are doubting their authenticity.

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The proliferation of stores purporting to sell Russian imports in China is raising questions of authenticity among consumers. Photo: AFP
Electric & new energy vehicles

Beijing renews EV subsidy to spur sales, keeps size of incentive unchanged

NDRC says buyers of electric cars for replacement purposes would receive US$2,728 this year.

US-listed Chinese stocks

Miniso issues US$550 million of debt for global expansion, share buy-backs

The Chinese retailer has been ramping up its overseas expansion efforts in a bid to create a global network of 40,000 stores.

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Electric & new energy vehicles

China’s discount war rolls on after 227 EV models slashed prices in 2024

Industry embarks on a new round of price competition that is likely to edge out more underachieving players in 2025.

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EVs sit at a charging station in Beijing on December 26, 2024. Photo: Xinhua
Electric & new energy vehicles

China’s 30,000 car dealers face bleak 2025 as price war, e-commerce crimp margins

Despite a 4.7 per cent rise in nationwide car sales, some 4,000 dealerships have closed due to a financial squeeze.

People walk past various Chinese-made electric cars for sale inside a shopping centre in Beijing on January 9, 2024. Photo: AP
China's economic recovery

Quiet on set: China’s film industry fights for relevance as admissions flag

With lower ticket sales and fierce competition from online entertainment, China’s film industry faces demotion in cultural status.

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E-commerce

E-commerce giants jump on China’s new trade-in programme for home appliances

Alibaba and JD.com are among the earliest to join the country’s renewed subsidy programme for home-appliance shoppers.

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