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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.
Cars produced by Chinese automakers BYD and MG at the Lianyungang port in China’s eastern Jiangsu province on July 1. Photo: AFP
Electric & new energy vehicles

What will China’s phasing out of its EV battery tax break mean for the industry?

Beijing is attempting to curb overcapacity and intense domestic price wars by ending a decade-long levy exemption on batteries.

South Korea

Beggar’s banquet: South Korea’s viral app helps youth find cheap meals

China consumption

How Musk son’s viral bag highlights rise of China’s thriving heritage e-commerce

South Korea

How South Korean hypermarket chain’s fall reflects ‘time-poor’ consumer demands

The Homeplus crisis comes even as other South Korean retail businesses continue to thrive amid a surge in online sales.

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A Homeplus store in Seoul. The financially troubled hypermarket chain has closed or suspended its outlets in South Korea. Photo: EPA
China consumption

Under pressure: China’s yoga apparel market slows as consumers diversify hobbies

Growth has slowed in the market for yoga workout gear as Chinese consumers pivot to other brands and activities.

Banking & finance

Open Questions | Citic Capital CEO on making China a financial powerhouse

Ex-Wall Streeter Zhang Yichen on attracting capital to China, building up its bond market and helping foreign firms better serve Chinese consumers.

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Hong Kong property

Retail rift: Hong Kong shops beg for rent relief, landlords hold firm

As closures continue despite rising retail sales, landlords and operators have starkly divided views on the retail leasing market.

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A Mong Kok shop operator says few tourists are willing to spend money, and many shops have closed down. Photo: Edmond So
Electric & new energy vehicles

Charging ahead: why BYD plans to build 3,000 ‘flash-charging’ stations in Europe

The facilities will support BYD’s latest flash-charging technology, which can reportedly recharge a car’s battery in just 10 minutes.

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Hong Kong property

Lights out for Taobao-partnered furniture showroom in October: sources

Landlord Sino Group seeking a new tenant for the second-floor shop at China Hong Kong City mall in Tsim Sha Tsui, marketing materials show.

IPO

Waning appetite: why mainland Chinese F&B stocks are losing favour in Hong Kong

IPO lapses and sliding share prices underscore how weak consumption is dulling Hong Kong’s appetite for mainland China’s food sector.

Mixue Group’s shares are down 48 per cent this year. Photo: Reuters
China property

Up Tempo? Hilton hotel brand taps into rising China tourism demand

US hotel operator says new lifestyle brand reflects its belief that the country’s tourism sector will continue to grow.

Hilton executives at the launch ceremony of the Tempo hotel brand in Shanghai on Tuesday. Photo: Handout
China consumption

‘Critical period’: Beijing unveils five-year plan to boost consumption

Policymakers set US$8.85 trillion retail goal for 2030, betting on services, property and cars to anchor growth amid weak demand.

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Electric & new energy vehicles

No U-turn: Hainan solidifies 2030 deadline to purge petrol-vehicle sales

New road map for the tropical free-trade hub highlights advancements in fleet electrification, creating a potential template for other provinces to follow.

Food and Drinks

Heritage brands in Hong Kong innovate to thrive in challenging times

From charcoal-roasted goose to toys to construction, owners of venerated local businesses explain their stewardship strategies.

(L to R) Ivan Ting, executive director of Kader Holdings; Yvonne Kam, owner of Yung Kee Restaurant and Derrick Pang, CEO of Asia Allied Infrastructure, pictured in Central on July 13. Photo: Edmond So
China economy

Opinion | Why China is seriously cultivating AI entertainment

With rules and support, policymakers appear to be positioning AI and its entertainment nexus as the foundation for a new cultural economy.

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Monitor screens at a microdrama film studio in Shanghai, China, on October 10, 2025. Photo: AFP
Hong Kong stock market

What Labubu fatigue? Star investor buys bigger stake in Pop Mart

China’s answer to Warren Buffett now owns a 7.65 per cent stake in the toy brand, despite a lukewarm reception for the new Labubu Hair Salon series.

China manufacturing

Why factories in southern China are feeling the squeeze despite pickup in orders

Manufacturers hoping for stimulus measures turn attention to coming Politburo meeting as costs eat into profits and investment.

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Diplomacy

Opinion | Slowly but surely, China’s soft power is making itself felt

With trusted businesses, more openness, creative culture and inspiring sporting successes, China is building a foundation for influence.

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Illustration: Craig Stephens
China consumption

Five Guys eyes Beijing as US chains hunger for success in China

Unlike earlier attempts that relied on management by overseas headquarters, US firms now favour franchising, analyst says.

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Electric & new energy vehicles

Volkswagen China deliveries see 26% drop year on year to lowest point since 2010

The European carmaker is losing ground to domestic EV rivals as it sees its lowest delivery volume in over a decade and half.

Middle East

Middle Eastern perfumes are trending, led by Lattafa and Mona Kattan’s Kayali

From TikTok Shop to legacy houses, oud has gone mainstream – with Gucci, Maison Francis Kurkdjian and Tom Ford all launching dedicated collections.

Mona Kattan helped drive the rise of Middle Eastern fragrances with Dubai-based Kayali, which became Sephora’s No 1 fragrance brand in the first half of 2025. Photo: Handout
E-commerce

China fines 4 internet celebrities US$1.9m for tax evasion

In some cases, popular live-streamers with online stores and millions of fans paid taxes as low as a few hundred yuan, authorities say.

Celebrities usually open or endorse stores, which include online e-commerce shops. Photo: Shutterstock Images
Good Schools Guide

Hong Kong’s Gen Alpha is learning about managing money

Financial literacy is being shaped at home, in classrooms and through gamified tools in a bid to help children make smarter money choices.

China consumption

China unveils retail road map: 5 years to shield physical stores from e-commerce

Beijing’s new 2030 retail road map targets price parity and social experiences to combat ‘trading down’ as retail growth hits weakest pace since pandemic.

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Electric & new energy vehicles

China’s Xiaomi gears up for EV sector scrap with new SUVs, extended-range plans

The company’s Sky Nomad SUV announcement is leading analysts to predict the new models will include long-range batteries to stay ahead of rivals.

The Xiaomi logo appears on a new‑generation SU7 electric sedan ahead of a launch event in Beijing. Photo: Reuters
China inflation

China’s factory gate prices rise in June amid brief Iran war respite

The producer price index rose for a fourth month in a row amid a momentary ceasefire, though consumer price increases missed expectations.

A worker arranges products in a store in Beijing last month. Photo: AFP
Hong Kong property

When will Hong Kong’s retail leasing market see a turnaround?

Analysts say that geopolitical tensions, Beijing’s measures against capital flight and potential rate hikes are adding to uncertainties.

Electric & new energy vehicles

BYD’s EV tech in the spotlight as it challenges Porsche’s 911

With the Denza Z electric sports car, featuring DiSus tech and blade batteries, BYD aims to compete globally and challenge its German rival.

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