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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.
The Maextro S800 recorded more than 2,100 deliveries in mainland China last month. Photo: Getty Images
Electric & new energy vehicles

Luxury EV built with Huawei tops Porsche’s Panamera and BMW’s 7 Series in China

Chinese carmakers gain confidence in the premium segment as Maextro S800 – developed by Huawei and JAC Group – tops sales above US$100,000.

Xiaomi

China’s Xiaomi rejects claims of military ties after appeal by US lawmakers

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Retailing

As Landmark revamps its offerings, retail concept Belowground debuts a new look

E-commerce

China bans e-commerce platforms from forcing lowest prices or abusing algorithms

Beijing moves to protect consumers and merchants, with new 29-article regulation tightening oversight of the fast-growing digital economy.

The new rules prohibit e-commerce operators from forcing merchants to offer discounts. Photo: Shutterstock
Pop Mart

Chinese toymaker Pop Mart targets wider audience with magazine, grow IP

The magazine, which is available for US$5.7 online and at select offline locations, features Michelle Yeoh on the cover.

Singapore

How Singapore’s unforgiving food scene can go hot and cold on brands

Over 3,000 eateries shut their doors last year, the highest since 2005, in one of the world’s most competitive dining markets.

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Luxury brands

Why global luxury brands are switching to shopping streets in China

Luxury giants are transforming China’s retail scene, blending culture, cuisine and shopping in vibrant street-level destinations.

Stand-alone flagship stores with distinctive architectural facades are gradually gaining traction in China. Above, Beijing’s Taikoo Li Sanlitun North. Photo: Zhu Wenqian
China consumption

From taboo to trendy: China’s second-hand luxury market cashes in on resale boom

Driven by an uneven recovery and property crisis, value-conscious shoppers are powering a second-hand boom as platforms use tech to verify authenticity and overcome stigma.

E-commerce

Alibaba ramps up China instant commerce push with Cainiao and Tmall tie-up

Partnership designed to expand warehouse network and boost Taobao Shangou’s rapid service as rivals Meituan and JD.com scale up facilities.

China jobs

China’s youth-unemployment rate eases to 16.9% as graduates settle for less

Job market remains plagued by a mismatch between skills and vacancies, pushing more graduates towards blue-collar jobs or gig work.

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Applicants take part in a campus job fair at the Minhang campus of Shanghai Jiao Tong University. Photo: Xinhua
Electric & new energy vehicles

BYD ups the ante on L3 autonomous cars, begins testing for mass production

BYD has pinned its hopes on preliminary self-driving technologies to bolster its sales in mainland China.

BYD says it has completed more than 150,000 kilometres of real-world L3 testing. Photo: Xinhua
Xiaomi

Memory crunch: China’s Xiaomi and Honor raise tablet prices as chip costs surge

Supplies of memory products for electronic devices squeezed by AI pivot of chipmakers, spurring companies to pass on costs to consumers.

E-commerce

No ‘lowest-price’ requirement: China warns platforms on monopolistic tactics

Regulators tell platforms that demanding the ‘lowest price’ from vendors may not be permitted under new draft guidelines.

China consumption

Not lovin’ it: Chinese fume at McDonald’s prices, costlier ‘poor man’s meal’

Fast-food giant increases menu items by 0.5 to 1 yuan, testing pricing power in a deflationary market where per-capita dining spending has been plunging.

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A woman sits on a swing attached to a giant McDonald’s logo in Beijing. Photo: Reuters
China consumption

‘Invest in people’: how a new slogan signals a pivot in China’s economic policy

Beijing is expected to strengthen investment in welfare, pensions, education and other public services to unleash domestic demand, analysts say.

China has pledged to focus on “investing in people” in recent policy meetings, which could indicate an increase in spending on public services. Photo: Getty Images
Electric & new energy vehicles

Xpeng, Li Auto given approval to test ‘hands-off’ L3 cars amid slowing market

Deregulation to legalise L3 technology represents a leap forward in commercialising autonomous driving systems in China.

Hong Kong economy

Hong Kong jobless rate unchanged at 3.8% on back of ‘solid’ economic expansion

Improving consumer confidence, economic growth supporting overall market but some sectors may remain under pressure, labour chief says.

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Electric & new energy vehicles

Beijing approves first L3 autonomous cars in leap towards ‘hands-off’ driving

The cars, both pure EVs, can only navigate urban streets and highways in designated areas, according to the ministry.

The Baidu-BAIC Arcfox robotaxi is seen on the road. Photo: Shutterstock Images
Electric & new energy vehicles

China’s Geely Auto raises bar on car safety with world’s largest test centre

Carmaker expands testing to 27 categories at Ningbo facility to prioritise safety over discounts in a crowded market.

China property

Shanghai retail landscape evolves with new malls, shift to experiential shopping

Hang Lung, New World and Swire are renovating and expanding their malls in Shanghai to stay relevant in a competitive environment.

United States

Outside In | It’s an expensive Christmas for Americans thanks to Trump’s tariffs

It’s been years since the US president extolled the virtues of trade wars: how much longer before he recognises tariffs harm the US economy?

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People walk by shop windows decorated for Christmas in New York on December 5. Photo: dpa
Singapore

As more department stores in Singapore struggle, can they adapt and survive?

The closure of more Isetan outlets comes in the wake of brands like Robinsons, Daimaru and SOGO that have ceased operations in Singapore.

The outlet of the Isetan department store chain at NEX shopping mall, which will close in April next year. Photo: YouTube/Singapore Scenery and Places
Hong Kong economy

Opinion | How Hong Kong became the trusted bridgehead for China firms going out

Firms eager to escape oversupply and involution at home are looking to leverage Hong Kong’s trusted institutional interface.

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China economy

China’s cautious shoppers continue to challenge consumer brands

Makers of fast-moving goods must look to lower-tier cities for growth as deflation persists, Bain & Co and Kantar Worldpanel say.

Hong Kong property

Schiaparelli picks Hong Kong’s Landmark for first flagship Asian store

The fashion house, which is known for its unique and surreal designs, will open its boutique in Hong Kong January.

Hongkong Land’s Landmark shopping centres in Central are undergoing renovation. Photo: Jonathan Wong
Electric & new energy vehicles

BYD founder bets on new tech to win back customers as sales decelerate

Company is pinning its hopes on a 12,000-strong R&D team to come up with technological breakthroughs.

In 2022, BYD dethroned Tesla for the first time as the world’s largest EV builder. Photo: Reuters
The Philippines

Anger boils in Philippines over official’s US$8.50 Christmas feast budget

Critics call the Philippine trade chief’s 500-peso Noche Buena price guide for a family of four a ‘fantasy’ that insults the poor.

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Hong Kong economy

Editorial | Hong Kong’s October retail sales figures underline need for change

The data suggests sales didn’t keep up with increased tourism. Retailers must do more to adapt to visitors’ new spending preferences.

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