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Consumers

BYD EVs in a factory in Rayong, Thailand. Photo: Reuters

Beijing urges EV makers to avoid investing in India and Turkey

Chinese EV makers’ drive to go global hit a snag after Beijing urged them to avoid investing in countries like India and Turkey.

Chinese EV makers’ drive to go global hit a snag after Beijing urged them to avoid investing in countries like India and Turkey

Complaints against Hong Kong gym chain Physical jump 50% after 2 bosses’ arrest

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Starbucks’ new CEO vows to make cafes ‘inviting’ once again

2 Physical gym directors arrested after Hong Kong watchdog logs 2,429 complaints

Customs confirm gym chain director Luk Ngai-keung earlier surrendered to authorities, with wife Ho Yuk-wah apprehended by officers.

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A director of Hong Kong gym chain Physical was released on bail after surrendering to customs. Photo: Sam Tsang

TikTok’s Chinese sibling emerges as fast-rising e-commerce player

The short-video platform saw gross merchandise value rise by 46 per cent in the year ended July 2024, an executive says.

China’s EV makers must overcome trust gaps to charm global buyers, survey says

A consumer survey from Ernst & Young shows China’s electric vehicle makers should draw on their products’ cost advantages to make headway overseas.

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Chinese consumers disappointed about AI delay on new iPhone 16

The Chinese language version of Apple Intelligence will only become available in 2025, with no words on whether it will land on the mainland.

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An Apple store in Shanghai, China. Photo: Bloomberg

EVs outsold oil-guzzlers in China last month, boosting take-up rate

A doubling in subsidies in July helped convince more buyers to embrace electric cars, industry association says.

Hong Kong authorities set up dedicated team to investigate closure of Physical

Number of complaints hits 1,725 and amount in prepaid fees swells to HK$60 million.

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US private-equity firm invests in Chinese-owned personal care brand Stenders

Investment firm says now is a good time to lean into China’s consumer sector amid lower competition and valuations.

An assortment of Stenders bath bombs. Photo: Handout

My Take | Grow wages, not night markets: how China can lift consumer spending

As lay-offs and salary cuts have shaken industries from finance to manufacturing, the government should find ways to boost household wealth.

Shoppers in Beijing. Photo: AP Photo

Complaints to Hong Kong watchdog against Physical gym chain involve HK$17 million

Consumer Council says it received 521 complaints within two days of Physical Health Centre abruptly closing all its branches.

From Got7 to fashion, Hong Kong pop star builds multimillion-dollar empire

Team Wang Design’s founders share their recent success with the latest summer collection and how they touch the hearts of Chinese consumers to build an empire.

Hong Kong’s Physical gym says branch will reopen thanks to new investor

More than 100 angry customers have lodged complaints over the chain’s decision to close; Physical says Wan Chai first branch to reopen.

Physical Fitness Centre announced earlier this week that it would be “temporarily” closing. Photo: Jelly Tse

Cash-strapped consumers are giving Australia’s liquor makers a headache

Rising living costs plus lifestyle changes among younger folk are squeezing the profit margins of Australia’s alcohol industry.

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Australian liquor retailers are reporting a drop in sales and lower profit margins due to changing habits of consumers. Photo: Reuters

Explainer | What measures clients of Hong Kong’s Physical gym can take after chain’s closure

The Post breaks down the gym’s financial woes and what safeguards are available to its members.

China must act to avoid crisis, former Japanese central banker warns

Former central bank governors have raised the alarm over deflation and slowdown, both of which were symptoms in Japan’s ‘lost decades’.

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Alibaba merchants hail WeChat Pay adoption on Taobao and Tmall

Many hope that the move could lure more consumers from rival platforms that already accept a variety of payment methods.

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Alibaba’s Taobao and Tmall will start making WeChat Pay available for merchants next week. Photo: Shutterstock

Nio forecasts record EV sales on demand outlook as China doubles cash subsidies

Shanghai-based EV maker Nio trimmed losses in the second quarter while vehicle margin swelled.

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A 6-seat Model Y? Tesla to produce new variant for China market in 2025

A revamped Model Y, due in 2025, is expected to take on Li Auto’s L8 and L9 large-size SUVs, which have won over thousands of rich families in mainland China.

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Dumpling giant Din Tai Fung folds in northern China as budgets kept under wraps

Din Tai Fung, a Taiwan-based restaurant chain, has announced it will close several of its mainland China stores as customers appear to have lost their appetite for pricier meals.

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The Din Tai Fung restaurant chain has announced it will close its northern China branches by the end of October. Photo: Kylie Knott

All that silver is turning into gold in China’s ageing society

Companies are shifting their focus to capitalise on opportunities presented by China’s ageing population. For some, the strategic pivot is starting to pay off.

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Senior citizens enjoyed coffee at a rehabilitation facility in Tianjin in 2023. Photo: Xinhua

Pinduoduo updates rules to kick out sellers of shoddy products

A PDD executive said in a recent post-earnings call that the company is willing to sacrifice short-term profits for long-term health.

Tesla delivers 17% more EVs from China factory as sales slip for rivals

US carmaker bucks downward trend in first six months, while sales decline 5.6 per cent for Li Auto and 1.6 per cent for Nio despite larger government subsidy for buyers.

China’s railways bring in gravy train, recording profits and lower debt ratios

China’s state-owned railway operator has bucked economic trends by registering profits and lower debt ratios for the first six months of 2024.

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China’s railway operator has gone against the grain of recent economic trends, recording profits and lower debt ratios for the first six months of 2024. Photo: AFP

Shanghai bets on live-streaming economy to boost consumption

Under a three-year plan, the local sector should generate nearly US$85 billion in online sales by 2026.

Shanghai aims to boost its live-streaming economy. Photo: EPA-EFE

Cash scratch fever: China sees more lottery sales with economic prospects hazy

Lottery sales in China continued their rise in July, with analysts pointing to a paucity of economic confidence and a ‘herd mentality’ as major drivers for ticket purchases.

China EVs: Leapmotor, Xpeng set the pace in August, while Li Auto and Nio stumble

Stellantis-backed Leapmotor hit record sales last month, while others like Li Auto and Nio struggle amid fierce competition and price war.

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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
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