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TOPIC

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.
Moviegoers walked past posters for 2025 blockbusters Ne Zha 2 and Captain America: Brave New World at a cinema in Tsim Sha Tsui, Hong Kong. Photo: SCMP
China consumption

China’s Spring Festival box office faces plot twist after 2025 smashed records

Home-grown films lead the charge but fail to meet the phenomenal success of last year’s Ne Zha 2, which attracted record-breaking crowds.

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Pop Mart

Pop Mart balances boom and bust: can Labubu’s leap match Molly’s momentum?

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United States

US inflation cools more than expected, kindling hopes of Fed rate cut

Meituan

Meituan warns of US$3.5 billion loss amid intense food delivery price war

Food delivery giant expects losses to continue into at least the first quarter of 2026 ‘due to ongoing competition’.

A Meituan drone for food delivery takes off from a drone delivery camp near Shenzhen Bay Park. Photo: VCG/VCG via Getty Images
China consumption

China overhauls CPI basket, with never-before-seen unveiling of its composition

Beijing’s five-year recalibration aims to better reflect consumption, as policymakers shift weight away from food and housing.

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China technology

Opinion | ‘Becoming Chinese’ memes reflect a world shaped by China’s ascent

The memes are really about how deeply global digital life is embedded in Chinese-built systems – and how comfortable young people are with that.

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China's population

Glimmer of hope? Why China’s marriage uptick could spark 2026 birth rebound

Double-digit jump in registration rate, boosted by policy and cultural tradition, offers modest upturn, but demographers are wary of weak fertility intentions.

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A couple participates in a group wedding in August, in China’s Guangdong province. Photo: Getty Images
Electric & new energy vehicles

China’s efforts to control EV price war sees carmakers paying vendors quicker

Only a handful of the nearly 50 mainland China-based EV builders have been able to turn a profit amid the price wars.

Thailand

Why Thailand is cutting back the sugar in coffee and tea

With Thais averaging 21 teaspoons of sugar a day – triple WHO limits – officials urge cafes to cut syrup to lower diabetes and obesity risks.

Hong Kong stock market

Sudden closure of Chinese restaurant chain’s outlets leaves diners in limbo

Operator Shanghai XNG Holdings suspends operations at 10 branches on the mainland, saying the closures are part of a strategic realignment.

Shanghai XNG Holdings reached a peak of more than 100 outlets across its brands in 2015. Photo: Weibo
Fashion

In conversation: Bohan Qiu and Ian Hylton on Chinese luxury fashion

Hylton is known for his eponymous label as well as his work on the brand Ms Min, while Qiu is the founder of Shanghai PR agency Boh Project.

Bohan Qiu (left) and Ian Hylton at the latter’s in-house residency at Rosewood Hong Kong’s Beaureguards boutique. Photo: Alexander Mak
Robotics

Chinese vacuum maker using Temu’s playbook dreams big with Super Bowl debut

Dreame showcases robot vacuum in a Super Bowl commercial, drawing on Temu’s US prime-time campaign that helped it challenge Amazon.com.

China’s private sector

Luckin’s 30,000th store milestone adds buzz to China’s brewing coffee battle

Xiamen-headquartered chain pushes to integrate supply network worldwide and accelerate growth in markets from Asia to the US.

China’s private sector

Insta360, Vivo challenge DJI’s turf, eyeing a slice of the gimbal camera boom

Insta360 and Vivo plan new handheld cameras to challenge DJI, but analysts say building a content ecosystem will be the tougher battle.

The Pocket series – compact cameras positioned between smartphones and professional rigs for vloggers – has evolved from a niche gadget into a flagship line. Photo: Handout
Singapore

Singapore wage growth outpaced inflation for most in 2025, PM says

Singapore’s definition of household income now includes income from non-work sources, including rental and investment income.

Office workers walk through the financial district of Singapore, in February 2021. Photo: EPA-EFE
China economy

Opinion | Why the US really fears Chinese ‘overcapacity’

China doesn’t have a problem with ‘overcapacity’; rather, the United States lacks an economic strategy that can generate abundance.

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China’s private sector

China’s Year of the Horse shoppers let emotional satisfaction take the reins

Brand prestige fades in importance as consumers favour festival-themed toys, playful designs and pet items.

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Retailing

How Chinese consumers’ changing demands are keeping KFC’s owner on its toes

Yum China CEO Joey Wat banks on fast-food firm’s flexible store format and cheaper products to attract more Chinese consumers.

Yum China CEO Joey Wat speaks during the company’s 2025 Investor Conference in Shenzhen. Photo: Handout
Fashion

How Moncler’s Remo Ruffini transformed the brand into a luxury powerhouse

Known for its A-list collaborations, the brand has worked with everyone from A$AP Rocky and Pharrell Williams, to Jonathan Anderson and Rick Owens.

Hong Kong healthcare and hospitals

Hong Kong toddler suspected to have fallen ill from tainted milk formula

Authorities also order 390 cans of Aptamil Profutura milk formula from Germany be taken off shelves.

Pizza Hut

Pizza shut: iconic chain to close 250 US locations

Yum! Brands targets underperforming restaurants as it conducts a strategic review for Pizza Hut.

The restaurant chain opened nearly 1,200 outlets across 65 countries last year. Photo: Facebook / @Pizza Hut Taiwan
Yum China

KFC operator Yum China to expand faster amid ‘early signs’ of spending thaw

After earnings exceed estimates, company will add outlets at faster pace than last year, with focus on second-tier cities.

A couple walks out of a KFC restaurant in an urban shopping district on February 22, 2025, in the southwestern Chinese city of Chongqing. Photo: Getty Images
Electric & new energy vehicles

China’s turbocharged EV market hits a speed bump amid falling sales

After years at full throttle, China’s EV sector is slowing sharply, with sales sliding in January as tax breaks fade and costs rise.

Hong Kong

Video | Nestlé baby milk formula tests positive for toxin

Swiss-based company issued a global recall on some infant formula products in January.

Hong Kong healthcare and hospitals

Hong Kong recalls Aptamil baby milk formula batch over toxin contamination fears

Centre for Food Safety says a local retailer sold a small quantity of the formula batch suspected to contain cereulide.

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Aptamil Profutura DUO Pre D 800g. Photo: Handout
Electric & new energy vehicles

Tesla, Xiaomi vie for Chinese EV buyers with cheaper, longer loans

Low interest rates and seven-year payback periods replace price discounts while EV sales drop and materials costs rise.

A potential buyer discusses a Tesla YL with a staff member in a showroom in Beijing on February 3, 2026. Photo: AFP
Hong Kong economy

Hong Kong’s retail sales edge up 1% in 2025 after 7.3% decline in 2024

Census and Statistics Department says retail sales for December worth HK$35 billion, and provisionally estimated at HK$380.5 billion for 2025.

Hong Kong stock market

Chinese energy drink maker Eastroc’s shares debut flat in Hong Kong

Eastroc, which raised US$1.3 billion in city’s biggest IPO so far this year, draws strong retail demand amid heightened regulatory scrutiny.

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