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China’s private sector

China’s private sector
The latest news, analysis and opinion on China’s private sector. In-depth analysis, industry insights and expert opinion.
China has raised taxes on telecoms giants including China Telecom as part of a push to shore up government finances. Photo: Shutterstock
Banking & finance

China pushes to shore up government finances with tax rises on several sectors

Beijing targets tax incentives in telecoms and other industries after seeing fiscal revenue drop sharply in late 2025.

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China economy

Opinion | Fears of overcapacity ignore China’s full balance of payments picture

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AstraZeneca unveils US$15 billion China investment as Starmer visits Beijing

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Hong Kong stock market

Muyuan Foods courts cornerstone investors for Hong Kong listing

Thai conglomerate expected to join a group of cornerstone investors in a deal that could raise about US$1.5 billion.

Muyuan is among a crop of Chinese companies in the consumer industry that are defying China’s sluggish consumer demand to sell shares in Hong Kong. Photo: AP
United States

Pop Mart rallies in Hong Kong on aggressive push into US retail market

Shares of Labubu toymaker Pop Mart jumped after the Chinese firm unveiled plans to open more than 20 new stores in the US this year.

Shanghai

Partnerships, not plants: Chinese companies rethink overseas expansion strategy

Executives are urging a measured approach as Chinese firms turn to global markets amid intensifying competition at home.

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China technology

China’s private sector increases presence among top 100 listed firms

US think tank’s report says non-state sector is bouncing back from three-year slump.

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Bubble tea chain Mixue Bingcheng joined the ranks of China’s top 100 listed companies in the first half of last year. Photo: Reuters
China economy

China’s drug and medical device sector fuels growth with record licensing deals

China’s pharmaceutical industry surges on ageing demand and global expansion, with revenue forecast to top US$2.1 trillion by 2030.

Regulation

Beijing opens antitrust investigation into Trip.com before Lunar New Year break

The Trip.com case shows how China’s regulatory inquiries into various online platforms have become the norm.

Consumers

Changing tastes: China’s new affluent consumers seek quality not extravagance

Rise of upper middle class reshapes China’s retail market, driving demand for quality goods and creating a battleground for global brands.

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The success of US retailer Sam’s Club in China is attributed to its “premium-value” offering sought by upper-middle-income consumers. Photo: Eugene Lee
Mainland China

China to probe food delivery platforms under anti-monopoly law

State Council announcement cites ‘excessive subsidies’ and ‘price wars’ in document unveiling market assessment for online delivery services.

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China has announced an antitrust investigation into its food delivery platforms. Photo: Shutterstock
Mergers & Acquisitions

China’s M&A revival points to deeper investor confidence in growth prospects

Deal value is expected to rise, with strategic transactions and overseas ambitions driving momentum.

Consumers

Small restaurants in China starve as consumers suppress spending appetite

Per-capita spending per meal has dropped nearly 24 per cent since 2023, data provider says, as property slump sows uncertainty.

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China's economic recovery

China broadens foreign investment list in renewed pitch for overseas capital

The catalogue, which lists the sectors carrying policy incentives for overseas investors, has hundreds of new entries, many in advanced manufacturing.

China’s revised catalogue of encouraged industries has added many sectors, including medical equipment. Photo: CFOTO/Future Publishing via Getty Images
Mainland China

From swoosh to local: Nike stumbles in China as home-grown rivals close the gap

Nike’s sharp drop in China sales underscores intensifying competition from home-grown brands amid changing consumer tastes.

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Walk on by: changing tastes and the growing allure of home-grown brands mean that sports apparel giants like Nike are struggiing in China. Photo: Reuters
Biomedicine: Companies

BeOne Medicines names R&D chief Wang Lai as president amid global expansion

BeOne generated global revenue of about US$3.8 billion last year, driven by its flagship products Brukinsa and Tevimbra.

China innovators

China’s growing young billionaire class masks innovation hurdles, analysts say

Technological innovation – one of Beijing’s top priorities – is helping to drive wealth creation, report says.

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China's space programme

China launches satellite ‘super factory’ in bid to rival Elon Musk’s Starlink

The facility features a ‘factory-to-launch’ pipeline, expected to make it faster and cheaper to build low Earth orbit constellations.

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China’s first comprehensive factory dedicated to the assembly, testing and reuse of carrier rockets, in south China’s coastal city of Wenchang. Photo: People’s Daily
Tencent

Tencent quits Paramount’s Warner Bros bid amid US regulatory concerns

Tencent has been dropped as a financing partner from Paramount Skydance’s US$108 billion hostile bid for Warner Bros Discovery.

China's economic recovery

China warns internet platforms not to shift tax burden onto gig workers

Celebrities and high-profile influencers also under scrutiny, with regulators pursuing hundreds of such cases in recent years.

Artificial intelligence

ByteDance’s agentic AI smartphone dials up a digital backlash by China’s top apps

ByteDance’s new AI smartphone has run into resistance, as major Chinese platforms move to block its features citing fairness and security.

ByteDance’s agentic AI on the Nubia M153, launched by ZTE, is facing a backlash from other apps over security and fairness concerns. Photo: Handout
Hong Kong

Deloitte say Hong Kong primed as treasury hub for China’s go-global push

As Chinese companies diversify into Southeast Asia, Latin America and belt and road markets, many are using Hong Kong as a springboard.

(L-R) Deloitte’s Edward Au, Patrick Tsang and Robert Lui. Photo: Handout
United States

US lifts China sentiment, but tensions cloud outlook in Japan: report

Global confidence in China ticked higher in the third quarter, Morgan Stanley says, driven by US companies and policy support in Beijing.

China's economic recovery

Beijing aims to harness state, private sectors to build ‘world-class firms’

Private firms need a stable, level playing field, with state-owned enterprises acting as anchors for strategic industries, state-asset watchdog says.

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Hong Kong

Kelly Zong steps down as Wahaha chief amid bitter inheritance feud

The succession drama at Wahaha has entered a new phase, with heiress Kelly Zong relinquishing her top roles at the beverage giant.

Wahaha heiress Kelly Zong Fuli. Photo: Ifeng.com
Shanghai

Beauty market aglow: young Chinese splurge on self-care, Fosun-backed firm says

Growing number of men join women in embracing energy-based aesthetic treatments as a preventive measure: Sisram Medical.

Lior Dayan says Chinese consumers can afford luxury services. Photo: Handout
Open Questions series

Open Questions | Nicholas Lardy on China’s unique economic advantage

Economist at US think tanks on bright prospects for China, the challenges it faces and why more market discipline is needed.

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Shenzhen

China’s housing slide deepens as October prices fall at fastest pace in a year

New home prices drop 0.5 per cent across 70 cities despite easing measures amid slowing economy and job worries.

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