https://www.scmp.com/rss/520975/feed en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Zhu Wenqian Zhu Wenqian French luxury brand Louis Vuitton has recently launched a watering can-shaped handbag in China targeting male customers, helping the brand stay in the public eye. The men’s bag is shaped like a gardening watering can and is priced at 36,000 yuan (US$5,217), while a matching watering can ornament retails for 7,750 yuan. The item sparked discussion on Chinese social media platforms, with consumers noting that Louis Vuitton frequently released such whimsical, quirky designs. The brand’s customer... https://www.scmp.com/business/article/3348830/eye-catching-design-meets-eye-watering-prices-lv-launches-watering-can-man-bag?utm_source=rss_feed https://www.scmp.com/business/article/3348830/eye-catching-design-meets-eye-watering-prices-lv-launches-watering-can-man-bag?utm_source=rss_feed Fri, 03 Apr 2026 01:30:11 +0000 Zhu Wenqian Zhu Wenqian With Chinese coffee brands eyeing overseas expansion, analysts said those seeking to succeed as global players must move beyond low-price strategies and a narrow focus on operational efficiency. “Overseas consumers have long associated Chinese brands mainly with cost performance,” said Fu Yifu, a special research fellow at Su Merchants Bank in Nanjing, in the eastern Jiangsu province. “To succeed globally, the core is to build a presence rooted in China’s operational efficiency while blending... https://www.scmp.com/business/china-business/article/3348412/chinese-coffee-brands-need-more-low-prices-compete-global-players-analysts?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3348412/chinese-coffee-brands-need-more-low-prices-compete-global-players-analysts?utm_source=rss_feed Mon, 30 Mar 2026 23:30:09 +0000 Julie Zhang Julie Zhang CK Life Sciences, a unit of Li Ka-shing-backed CK Group, plans to bring its cancer vaccine candidates to mainland China through a “fast track” channel as Beijing moves to accelerate early-stage drug development. “We are planning to run investigator-initiated trials [IITs], hopefully, in the next year,” CK Life Sciences’ vice-president and chief scientific officer Dr Melvin Toh Kean-meng said in a recent interview. His comments came as CK Life Sciences set up Sequencio Therapeutics in Hong Kong... https://www.scmp.com/business/china-business/article/3348317/li-ka-shings-ck-life-unit-eyes-china-fast-track-cancer-vaccine-pipeline?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3348317/li-ka-shings-ck-life-unit-eyes-china-fast-track-cancer-vaccine-pipeline?utm_source=rss_feed Sun, 29 Mar 2026 23:00:32 +0000 Mia Nurmamat,Xinyi Wu Mia Nurmamat,Xinyi Wu Germany’s chemical giant BASF has launched operations at its China production base – its largest overseas investment to date – with a total outlay of €8.7 billion (US$10 billion), and the country’s first wholly foreign-owned large-scale Verbund site. The company on Thursday inaugurated the world-scale complex in Zhanjiang, Guangdong province, designed to run entirely on renewable electricity. A Verbund site is an integrated chemical complex where plants, energy use and materials are... https://www.scmp.com/business/article/3348021/basf-launches-biggest-overseas-project-china-green-powered-mega-site?utm_source=rss_feed https://www.scmp.com/business/article/3348021/basf-launches-biggest-overseas-project-china-green-powered-mega-site?utm_source=rss_feed Thu, 26 Mar 2026 14:00:12 +0000 Kandy Wong Kandy Wong Jiangsu Aidea Pharmaceutical, which develops anti-HIV and Aids treatments, plans to tap Hong Kong’s initial public offering (IPO) market as it sets its sights on expansion into the US and Europe in the coming years, an executive said. The company, listed on the Shanghai Stock Exchange’s Star Market, described Hong Kong as a “good window” for going global, citing the city’s “flexible” fundraising environment. Many Chinese corporations – including those in the pharmaceutical sector – would... https://www.scmp.com/business/banking-finance/article/3347933/chinas-jiangsu-aidea-eyes-hong-kong-listing-gateway-us-and-european-aids-markets?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3347933/chinas-jiangsu-aidea-eyes-hong-kong-listing-gateway-us-and-european-aids-markets?utm_source=rss_feed Thu, 26 Mar 2026 04:00:19 +0000 Julie Zhang Julie Zhang At least 10 weight-loss injections and oral pills are lining up for regulatory approval in China, in a market projected to reach about US$14 billion by 2030. Novo Nordisk’s blockbuster semaglutide, which generated about US$35 billion in global revenue last year, lost patent protection in China on March 20, clearing the way for rivals. The rush comes as China’s drug regulator accelerates approvals of innovative therapies, helped by a surge in out-licensing deals with global pharmaceutical... https://www.scmp.com/business/china-business/article/3347869/chinas-weight-loss-drug-makers-take-global-giants-novo-nordisk-patent-expires?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3347869/chinas-weight-loss-drug-makers-take-global-giants-novo-nordisk-patent-expires?utm_source=rss_feed Thu, 26 Mar 2026 03:00:08 +0000 Mia Nurmamat Mia Nurmamat China Mobile has invested nearly HK$10 billion (US$1.28 billion) over five years to help turn Hong Kong into a global computing hub, integrating the city into China’s national network. The world’s largest telecoms operator by subscribers on Wednesday opened a new data centre in northern Hong Kong and said it would step up investment in next-generation submarine cables. The state-owned group aims to bring Hong Kong into China’s national computing network, which has the world’s second-largest... https://www.scmp.com/business/companies/article/3347877/china-mobile-bets-hong-kong-gateway-global-computing-flows?utm_source=rss_feed https://www.scmp.com/business/companies/article/3347877/china-mobile-bets-hong-kong-gateway-global-computing-flows?utm_source=rss_feed Wed, 25 Mar 2026 11:30:08 +0000 Zhu Wenqian Zhu Wenqian China’s luxury hotel sector has unlocked new avenues for business growth, fuelled by a boom in inbound tourism and a growing number of foreign business travellers and holidaymakers who favour high-end accommodation. International tourists generally spend more than domestic ones, except for wealthy Chinese travellers. Most visa-free visitors to China are from developed countries with much higher living costs. Even spending at their usual levels, they would generate considerable revenue for... https://www.scmp.com/business/china-business/article/3347704/visa-free-travel-rising-foreign-visitors-boost-luxury-hotel-growth-china?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3347704/visa-free-travel-rising-foreign-visitors-boost-luxury-hotel-growth-china?utm_source=rss_feed Wed, 25 Mar 2026 04:30:08 +0000 Julie Zhang Julie Zhang US biopharmaceutical company Gilead Sciences agreed to buy Ouro Medicines, which is developing an antibody-based medicine for autoimmune diseases licensed from China’s Keymed Biosciences, in a deal worth up to US$2.18 billion. Gilead Sciences is among a group of global drug makers facing patent expirations and turning to mergers, acquisitions and licensing deals to refill their drug pipelines. Under the agreement, Gilead Sciences would pay shareholders of US-based Ouro Medicines US$1.675 billion... https://www.scmp.com/business/china-business/article/3347693/rights-antibody-drug-chinas-keymed-change-hands-gilead-acquisition-ouro?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3347693/rights-antibody-drug-chinas-keymed-change-hands-gilead-acquisition-ouro?utm_source=rss_feed Tue, 24 Mar 2026 07:51:07 +0000 Coco Feng Coco Feng Steven Li sells cosmetics to overseas customers from the eastern Chinese province of Jiangsu. This month, amid the popularity of the OpenClaw AI agent framework, he expanded the business by “hiring” four “AI employees”. On the front lines, the AI customer service manages real-time inquiries 24/7 on WhatsApp, while a “digital sales” agent provides price quotes. Behind the scenes, a third role ensures operational transparency by providing tracking status for every order, while an “operations... https://www.scmp.com/tech/article/3347416/openclaw-government-support-fuels-rise-one-person-companies-china?utm_source=rss_feed https://www.scmp.com/tech/article/3347416/openclaw-government-support-fuels-rise-one-person-companies-china?utm_source=rss_feed Sun, 22 Mar 2026 10:00:26 +0000 He Huifeng He Huifeng Shanghai certified 30 new regional headquarters of multinational corporations and 15 research and development centres funded by overseas entities on Wednesday – a sign of continued interest in the Chinese financial hub despite an overall decline in the country’s foreign direct investment (FDI). Of the companies whose headquarters and R&D centres were certified this week in a ceremony hosted by the city’s mayor, Gong Zheng, eight are on the Fortune 500 list, according to a statement from the... https://www.scmp.com/economy/china-economy/article/3347178/shanghai-certifies-30-overseas-offices-amid-chinas-investment-sales-pitch?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347178/shanghai-certifies-30-overseas-offices-amid-chinas-investment-sales-pitch?utm_source=rss_feed Thu, 19 Mar 2026 10:30:09 +0000 Julie Zhang Julie Zhang Chinese contract drug makers – including WuXi AppTec, WuXi Biologics and WuXi XDC – face a less certain long-term revenue outlook as US pharmaceutical companies bring production in-house and reconfigure supply chains amid rising US-China tensions. While near-term earnings remained largely locked in, visibility beyond that was limited, according to Cui Cui, head of healthcare research for Asia at Jefferies. “Earnings visibility for 2026 and 2027 is still very strong – revenue momentum is largely... https://www.scmp.com/business/china-business/article/3346911/us-reshoring-drive-casts-shadow-over-chinas-contract-drug-makers-analyst?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3346911/us-reshoring-drive-casts-shadow-over-chinas-contract-drug-makers-analyst?utm_source=rss_feed Tue, 17 Mar 2026 11:48:41 +0000 Themis Qi,Julie Zhang Themis Qi,Julie Zhang Eli Lilly has pledged an additional US$3 billion investment in China over the next decade to strengthen its local supply chain and manufacturing capabilities, deepening the footprint of foreign pharmaceutical giants in the world’s second-largest healthcare market. The move would bring the total cumulative investment of Eli Lilly, the world’s largest pharmaceutical company by market capitalisation, in China to nearly US$6 billion, according to a statement released on its WeChat account on... https://www.scmp.com/business/banking-finance/article/3346260/eli-lilly-boosts-china-footprint-us3-billion-plan-expand-supply-chain?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3346260/eli-lilly-boosts-china-footprint-us3-billion-plan-expand-supply-chain?utm_source=rss_feed Wed, 11 Mar 2026 13:39:53 +0000 Frank Chen Frank Chen With its cutting-edge humanoid robots busting moves on the world’s most-watched television programme and German Chancellor Friedrich Merz touring a company factory during a state visit, both within the last month, Unitree Robotics – already a household name in China – has seen its profile move into the stratosphere. And local government officials, eager to burnish their economies by strengthening ties to up-and-coming businesses, have made the domestic start-up’s founder and CEO Wang Xingxing a... https://www.scmp.com/economy/china-economy/article/3346115/why-chinas-red-hot-tech-push-leaving-some-traditional-sectors-out-cold?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3346115/why-chinas-red-hot-tech-push-leaving-some-traditional-sectors-out-cold?utm_source=rss_feed Tue, 10 Mar 2026 22:00:13 +0000 Cao Li Cao Li While oil dominates headlines amid the escalating US-Iran conflict, Chinese retail investors are zeroing in on a different concern: peppering listed companies with questions about how the turmoil could disrupt supplies of everything from fertilisers to pharmaceutical products that contain the prized spice saffron. “Given that Iran accounts for more than 90 per cent of global saffron exports, which have now been suspended, will your company continue producing saffron-containing footbath packs and... https://www.scmp.com/business/article/3345805/oil-saffron-how-us-iran-conflict-rattling-chinese-investors?utm_source=rss_feed https://www.scmp.com/business/article/3345805/oil-saffron-how-us-iran-conflict-rattling-chinese-investors?utm_source=rss_feed Sun, 08 Mar 2026 03:30:10 +0000 Mia Nurmamat,Ben Jiang Mia Nurmamat,Ben Jiang In an unprecedented Chinese New Year marketing blitz, Alibaba Group Holding, Baidu, ByteDance and Tencent Holdings spent an estimated 8 billion yuan (US$1.1 billion) to turn their artificial intelligence assistants into household names, according to Morgan Stanley. Now the dust is settling. A week after the holiday ended, early data offers a first glimpse into how China’s AI landscape is evolving and which players gained lasting traction from the spending spree. Morgan Stanley said all platforms... https://www.scmp.com/business/article/3345301/chinas-ai-red-packet-battle-burns-through-us1-billion-will-users-stick-around?utm_source=rss_feed https://www.scmp.com/business/article/3345301/chinas-ai-red-packet-battle-burns-through-us1-billion-will-users-stick-around?utm_source=rss_feed Tue, 03 Mar 2026 13:00:11 +0000 Xinyi Wu Xinyi Wu Ahead of China’s annual legislative meetings – typically a window into Beijing’s top-level policy agenda – this is the fourth entry in a series examining the complex economic recalibration driving China’s growth philosophy and its wide-ranging implications for local governments, financial investors and private enterprises. China’s private businesses, many still facing cash flow problems amid a prolonged property slump, want treasury bonds and legal obligations on state-owned enterprises and... https://www.scmp.com/economy/china-economy/article/3344906/whats-wish-list-chinas-private-sector-ahead-two-sessions?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3344906/whats-wish-list-chinas-private-sector-ahead-two-sessions?utm_source=rss_feed Mon, 02 Mar 2026 03:00:10 +0000 Cao Li Cao Li China’s major sportswear makers have shrugged off soft consumer spending and a warm winter, according to analysts. Retail sales in China’s sportswear sector picked up in the first two months of 2026 and beat expectations, helped by fresh policy support and Chinese New Year demand, analysts said. Separately, Chinese households also tuned into the Winter Olympics, where domestic sportswear giants Li Ning and Anta had high visibility. “We are turning more positive on the China sportswear industry... https://www.scmp.com/business/article/3345011/warm-winter-no-match-chinas-sportswear-sector-posts-surprise-growth?utm_source=rss_feed https://www.scmp.com/business/article/3345011/warm-winter-no-match-chinas-sportswear-sector-posts-surprise-growth?utm_source=rss_feed Sun, 01 Mar 2026 10:00:18 +0000 Aileen Chuang Aileen Chuang China’s Harbour BioMed has struck a deal worth more than US$1.2 billion with a clinical-stage biotechnology company to develop and commercialise an antibody outside China, as the country’s novel drug makers increasingly secure not only upfront licensing fees but also long-term international partnerships. The Shanghai-based company announced a licence and equity agreement on Monday with Solstice Oncology, a firm established by a syndicate of venture capital investors, for the exclusive... https://www.scmp.com/business/china-business/article/3344311/wave-chinese-biotech-deals-builds-harbour-biomed-solstice-sign-us12-billion-pact?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3344311/wave-chinese-biotech-deals-builds-harbour-biomed-solstice-sign-us12-billion-pact?utm_source=rss_feed Mon, 23 Feb 2026 07:15:13 +0000 Daniel Ren Daniel Ren Rising battery costs and a cooling car market are likely to tilt China’s electric-vehicle race in favour of hybrids this year, as budget-conscious consumers turn away from fully electric models, analysts say. Material cost inflation is expected to slow momentum for battery-electric vehicles (BEVs), allowing plug-in hybrids to regain market share after years of rapid electrification in the world’s largest car market. “A loss of pure electric car sales can be expected this year due to consumers’... https://www.scmp.com/tech/article/3343905/chinas-ev-momentum-slows-pricier-batteries-steer-drivers-hybrids?utm_source=rss_feed https://www.scmp.com/tech/article/3343905/chinas-ev-momentum-slows-pricier-batteries-steer-drivers-hybrids?utm_source=rss_feed Thu, 19 Feb 2026 11:00:09 +0000 Julie Zhang Julie Zhang A surge in drug research in China has driven the cost of a laboratory monkey to about 140,000 yuan (US$20,260), a sum that exceeds the country’s average annual wage. Official government procurement records showed that prices had doubled in the last five years for such monkeys, which are widely used in the preclinical stage to check whether a drug is safe and how it is absorbed, broken down and cleared by the body. Analysts said the soaring cost was underpinned by a flood of drug-licensing deals... https://www.scmp.com/business/china-business/article/3343819/chinas-biotech-boom-sends-price-lab-monkeys-drug-tests-climbing?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3343819/chinas-biotech-boom-sends-price-lab-monkeys-drug-tests-climbing?utm_source=rss_feed Wed, 18 Feb 2026 09:00:08 +0000 Xinyi Wu Xinyi Wu In the latest sign of China’s push to channel private capital into infrastructure, several local governments have begun actively seeking private investors for two major ultra-high-voltage power line projects – the first schemes of their kind to open up to non-state funding since a Beijing directive encouraging the practice last November. China is building a series of vast power lines to funnel clean energy from its resource-rich but sparsely populated western regions to power-hungry industrial... https://www.scmp.com/economy/china-economy/article/3343495/chinese-power-line-projects-seek-private-capital-sign-infrastructure-shift?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3343495/chinese-power-line-projects-seek-private-capital-sign-infrastructure-shift?utm_source=rss_feed Fri, 13 Feb 2026 13:00:11 +0000 Luna Sun Luna Sun AstraZeneca’s former China head has been formally charged with medical insurance fraud, illegal trading and unlawful collection of personal information, more than a year after he first came under investigation – casting a shadow over the Swedish-British drug maker’s expansion in its second-largest market. The pharmaceutical giant confirmed to the Financial Times and Reuters that Leon Wang was one of two individuals indicted, as referenced in its latest earnings report published on Tuesday. The... https://www.scmp.com/economy/china-economy/article/3343522/china-charges-former-astrazeneca-executive-what-it-means-global-pharmaceutical-firms?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3343522/china-charges-former-astrazeneca-executive-what-it-means-global-pharmaceutical-firms?utm_source=rss_feed Fri, 13 Feb 2026 12:00:12 +0000 Wency Chen Wency Chen Before humanoid robots realise their longer-term potential as efficient industrial workers, a more immediate role is emerging in China: on-demand entertainment. For 999 yuan (US$145), customers can now rent a humanoid robot to dance, perform and pose to order. That proposition is being trialled by Botshare – known in Chinese as Qingtianzu, or “Optimus rent” – which last weekend rolled out a “999 yuan robot experience programme for everyone” ahead of Valentine’s Day and the Lunar New... https://www.scmp.com/business/article/3342943/factory-floor-dance-floor-humanoids-find-path-market-us145?utm_source=rss_feed https://www.scmp.com/business/article/3342943/factory-floor-dance-floor-humanoids-find-path-market-us145?utm_source=rss_feed Tue, 10 Feb 2026 00:00:15 +0000 Zhu Wenqian Zhu Wenqian Luckin Coffee, mainland China’s largest coffee chain by store count, marked its milestone 30,000th outlet on Sunday in Shenzhen, with plans to boost global supply chain integration by sourcing premium beans from top producing regions worldwide. Headquartered in Xiamen, southeast China’s Fujian province, Luckin’s store network spans more than 300 cities nationwide, and its international footprint is expanding fast, with operations in overseas markets like Singapore, Malaysia and the US. It... https://www.scmp.com/business/china-business/article/3342941/luckins-30000th-store-milestone-adds-buzz-chinas-brewing-coffee-battle?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3342941/luckins-30000th-store-milestone-adds-buzz-chinas-brewing-coffee-battle?utm_source=rss_feed Mon, 09 Feb 2026 11:04:28 +0000 Iris Deng Iris Deng Chinese electronics companies Insta360 and Vivo are preparing aggressive moves into the gimbal-stabilised camera market, setting up a direct challenge to DJI’s dominance, though analysts warn the newcomers may struggle to match the drone maker’s entrenched content ecosystem. Insta360, a key rival to GoPro, is planning a handheld gimbal camera aimed at DJI’s popular Pocket series, currently slated for release in the first half of the year, according to people familiar with the matter. Separately,... https://www.scmp.com/business/article/3342930/insta360-vivo-challenge-djis-turf-eyeing-slice-gimbal-camera-boom?utm_source=rss_feed https://www.scmp.com/business/article/3342930/insta360-vivo-challenge-djis-turf-eyeing-slice-gimbal-camera-boom?utm_source=rss_feed Mon, 09 Feb 2026 11:00:11 +0000 Cao Li Cao Li Pop Mart’s shares climbed on Monday after the Chinese toymaker highlighted strong operating momentum at its annual gathering, reinforcing investor confidence ahead of earnings. The company’s Hong Kong-listed stock rose 8.6 per cent to HK$264.20 in afternoon trading before edging down to close 5.8 per cent up at HK$257.20. Shares are now up more than 37 per cent year to date, though still about 24 per cent below their August peak of HK$339.80. Founder Wang Ning said at the company’s annual party... https://www.scmp.com/business/article/3342884/chinas-pop-mart-gains-earnings-hopes-investors-eye-growth-beyond-labubu?utm_source=rss_feed https://www.scmp.com/business/article/3342884/chinas-pop-mart-gains-earnings-hopes-investors-eye-growth-beyond-labubu?utm_source=rss_feed Mon, 09 Feb 2026 05:15:40 +0000 Julie Zhang,Alice Li Julie Zhang,Alice Li In barely a decade, China has transformed from a maker of cheap generic copies of Western medicines into a global powerhouse of pharmaceutical innovation. The country now only trails the United States in novel drugs under development, with a 29 per cent share, according to McKinsey. International pharmaceutical companies are beating a path to China’s shores to license next-generation treatments for cancer, autoimmune diseases and other disorders. Government support, including regulatory and... https://www.scmp.com/plus/business/china-business/article/3342868/china-challenges-us-new-drugs-after-industry-transformation?utm_source=rss_feed https://www.scmp.com/plus/business/china-business/article/3342868/china-challenges-us-new-drugs-after-industry-transformation?utm_source=rss_feed Mon, 09 Feb 2026 04:45:08 +0000 He Huifeng He Huifeng Over 10 million students graduate from Chinese universities every year, straining an already crowded labour market. Yet the “micro drama” industry is emerging as a crucial lifeline for hundreds of thousands of young jobseekers: offering the chance to turn creativity into a stable pay cheque. The sector was estimated to directly generate about 690,000 jobs in 2025 – mostly for young people – and over 2 million positions when counting upstream and downstream roles, according to a recent report by... https://www.scmp.com/economy/china-economy/article/3342809/chinas-micro-drama-industry-emerges-jobs-lifeline-tough-graduate-labour-market?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3342809/chinas-micro-drama-industry-emerges-jobs-lifeline-tough-graduate-labour-market?utm_source=rss_feed Sun, 08 Feb 2026 09:00:08 +0000 Zhu Wenqian Zhu Wenqian As the Year of the Horse approaches, Chinese consumers are hunting online for mascots, dolls and charms themed after the zodiac animal, favouring soft, round and playful designs over formal styles, in what industry observers say places more weight on emotional fulfilment than on material possessions or brand prestige. This craze is boosting retail sales for plush toys and gold accessories, as is evident in toymaker Pop Mart’s sold-out Have a Good Run series of plush pendants, as well as brisk... https://www.scmp.com/business/china-business/article/3342795/chinas-year-horse-shoppers-let-emotional-satisfaction-take-reins?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3342795/chinas-year-horse-shoppers-let-emotional-satisfaction-take-reins?utm_source=rss_feed Sun, 08 Feb 2026 02:30:09 +0000 Cao Li Cao Li “Three Starbucks peach lattes for 84.90 yuan [US$12]”, a live streaming host tells viewers on Douyin, China’s popular short-video platform. “Three, two, one – the link is up. Don’t miss this deal, babes.” As Starbucks’ planned sale of a majority stake in its China business to Boyu Capital, announced three months ago, awaits regulatory clearance, the US coffee chain has stepped up its push into China’s heated live streaming shopping race, using discounts to bring down the cost per cup. The... https://www.scmp.com/business/article/3342682/waning-fortunes-how-western-brands-are-adapting-chinas-changing-consumer-landscape?utm_source=rss_feed https://www.scmp.com/business/article/3342682/waning-fortunes-how-western-brands-are-adapting-chinas-changing-consumer-landscape?utm_source=rss_feed Sat, 07 Feb 2026 02:00:10 +0000 Iris Deng Iris Deng China’s internet watchdog has fined Kuaishou Technology 119.1 million yuan (US$17 million) for hosting explicit live-streaming content, just days after the operator of the country’s second-largest short-video platform was penalised over e-commerce violations. Beijing’s Cyberspace Administration launched an investigation following reports of a surge in pornographic and vulgar streams. The probe found the platform had failed to meet its cybersecurity obligations, fix system vulnerabilities in... https://www.scmp.com/business/article/3342690/watchdog-slaps-chinas-kuaishou-us17-million-fine-after-explicit-content-probe?utm_source=rss_feed https://www.scmp.com/business/article/3342690/watchdog-slaps-chinas-kuaishou-us17-million-fine-after-explicit-content-probe?utm_source=rss_feed Fri, 06 Feb 2026 10:55:10 +0000 Cao Li,Daniel Ren,Ann Cao Cao Li,Daniel Ren,Ann Cao China’s food delivery giant Meituan said on Thursday that it had agreed to acquire Dingdong, a leading on-demand commerce platform in China specialising in fresh groceries. Meituan said it would purchase all issued shares of Dingdong Fresh Holding, wholly owned by New York-listed Dingdong (Cayman) Limited, for an initial consideration of US$717 million, subject to adjustment, according to a filing with the Hong Kong stock exchange. The deal is subject to conditions including antitrust clearance... https://www.scmp.com/business/article/3342537/chinas-meituan-snaps-dingdong-deepen-push-fresh-grocery-retail?utm_source=rss_feed https://www.scmp.com/business/article/3342537/chinas-meituan-snaps-dingdong-deepen-push-fresh-grocery-retail?utm_source=rss_feed Thu, 05 Feb 2026 10:54:35 +0000 Kandy Wong Kandy Wong Beijing has recently targeted tax incentives in telecoms and other select industries after fiscal revenue dropped sharply in late 2025, fuelling market speculation of similar, larger-scale moves and triggering volatility. Here, we examine the latest developments and outline how economists view the changes. What has the Chinese government announced? Beijing has moved to boost government finances by tightening tax incentives and raising preferential rates across several sectors, following a sharp... https://www.scmp.com/economy/china-economy/article/3342339/china-raises-taxes-some-sectors-boost-finances-one-fix-or-tough-times-ahead?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3342339/china-raises-taxes-some-sectors-boost-finances-one-fix-or-tough-times-ahead?utm_source=rss_feed Wed, 04 Feb 2026 06:40:20 +0000 He Huifeng He Huifeng Following the sudden demise of a major gold trading platform in the southern Chinese city of Shenzhen, another retail-focused operator has suffered a run, stoking fears of contagion in China’s private market for the precious metal. The platform, Ydd007, is the latest to face trouble. On Sunday, it told investors that it had experienced three “severe runs” in recent days amid mounting industry panic. It also acknowledged a significant funding shortfall, according to Chengdu.cn, part of the... https://www.scmp.com/economy/china-economy/article/3342258/chinas-gold-trading-hub-rattled-second-platform-faces-payment-crisis?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3342258/chinas-gold-trading-hub-rattled-second-platform-faces-payment-crisis?utm_source=rss_feed Tue, 03 Feb 2026 12:02:49 +0000 Ji Siqi Ji Siqi China has tightened tax incentives and raised preferential rates in several sectors as part of a broader push to generate more government funds, after experiencing a sharp drop in fiscal revenues amid an economic slowdown and persistent deflationary pressure. The Ministry of Finance and State Taxation Administration released a slew of detailed provisions for the country’s new value-added tax (VAT) law over the weekend, which included raising the rate applied to telecommunication services from 6... https://www.scmp.com/economy/china-economy/article/3342098/china-pushes-shore-government-finances-tax-rises-several-sectors?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3342098/china-pushes-shore-government-finances-tax-rises-several-sectors?utm_source=rss_feed Mon, 02 Feb 2026 13:30:11 +0000 Chen Zhao Chen Zhao The notion that China is flooding the world with excess industrial capacity is usually based on its massive surplus in goods trade, now standing at nearly US$1.2 trillion. That number is real, but treating it as proof of systemic overcapacity is not entirely correct. Goods trade is only one slice of China’s external balance, and it is increasingly offset by large outflows such as import of services and investment income payments. Moreover, China’s total current account surplus is US$657 billion... https://www.scmp.com/opinion/china-opinion/article/3341555/fears-overcapacity-ignore-chinas-full-balance-payments-picture?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3341555/fears-overcapacity-ignore-chinas-full-balance-payments-picture?utm_source=rss_feed Fri, 30 Jan 2026 01:30:08 +0000 Cao Li Cao Li British-Swedish pharmaceutical giant AstraZeneca said on Thursday it plans to invest US$15 billion in China through 2030, signalling renewed momentum in Sino-UK commercial ties. The investment – the biggest deal announced so far during UK Prime Minister Keir Starmer’s trip to Beijing aimed at strengthening trade ties – will support expanded medicines manufacturing as well as research and development (R&D), the company said in a statement. “Unlocking opportunities for British businesses across... https://www.scmp.com/business/companies/article/3341725/astrazeneca-unveils-us15-billion-china-investment-plan-starmer-visits-beijing?utm_source=rss_feed https://www.scmp.com/business/companies/article/3341725/astrazeneca-unveils-us15-billion-china-investment-plan-starmer-visits-beijing?utm_source=rss_feed Thu, 29 Jan 2026 12:21:00 +0000 Bloomberg Bloomberg Thailand’s Charoen Pokphand Group plans to invest in the Hong Kong listing of Chinese pig breeder Muyuan Foods, people familiar with the matter said, in what is shaping up to be one of the city’s largest share sales this year. CP Group was poised to participate as a cornerstone investor – which typically receives a guaranteed allocation in exchange for agreeing to hold shares for a set period – in the listing, the people said, asking not to be identified to discuss a private matter. Other... https://www.scmp.com/business/companies/article/3341582/chinese-pig-breeder-muyuan-foods-courts-cornerstone-investors-hong-kong-listing?utm_source=rss_feed https://www.scmp.com/business/companies/article/3341582/chinese-pig-breeder-muyuan-foods-courts-cornerstone-investors-hong-kong-listing?utm_source=rss_feed Wed, 28 Jan 2026 13:26:16 +0000 Themis Qi Themis Qi Pop Mart extended its rally in Hong Kong on Wednesday after unveiling an accelerated push into the US market, underscoring how overseas expansion is helping the Chinese toymaker offset lingering pressures at home. The maker of Labubu figurines plans to open more than 20 new stores across the United States this year, under a partnership with US mall operator Simon Property Group, which announced the roll-out in mid-January. The outlets will be located in major shopping centres including King of... https://www.scmp.com/business/china-business/article/3341552/pop-mart-rallies-hong-kong-aggressive-push-us-retail-market?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3341552/pop-mart-rallies-hong-kong-aggressive-push-us-retail-market?utm_source=rss_feed Wed, 28 Jan 2026 09:30:15 +0000 Cao Li,Themis Qi Cao Li,Themis Qi As Chinese companies accelerate their overseas expansion, industry leaders are urging a more partnership-driven approach rather than simply building factories abroad – a strategy they say could help ease growing concerns about excess capacity. As it pushes further into global markets, Zhejiang Geely Holding Group will prioritise partnerships over rapid capacity build-outs, vice-chairman Daniel Li Donghui said at the Asian Financial Forum (AFF) in Hong Kong on Tuesday. “We don’t think it’s the... https://www.scmp.com/business/article/3341479/partnerships-not-plants-chinese-companies-rethink-overseas-expansion-strategy?utm_source=rss_feed https://www.scmp.com/business/article/3341479/partnerships-not-plants-chinese-companies-rethink-overseas-expansion-strategy?utm_source=rss_feed Wed, 28 Jan 2026 03:00:13 +0000 Mia Nurmamat Mia Nurmamat Private sector enterprises comprised 40 per cent of the top 100 listed Chinese companies by market value in the second half of last year, led by high-profile technology firms involved in China’s artificial intelligence (AI) boom, according to the Peterson Institute for International Economics. That represented an increase of 2.4 percentage points from the first half of last year, the Washington-based think tank said in a report released on Tuesday that also highlighted a marked rebound from a... https://www.scmp.com/economy/china-economy/article/3340856/chinas-private-sector-increases-presence-among-top-100-listed-companies?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3340856/chinas-private-sector-increases-presence-among-top-100-listed-companies?utm_source=rss_feed Thu, 22 Jan 2026 12:00:10 +0000 Daniel Ren Daniel Ren China’s pharmaceutical industry, whose revenue is projected to rise by 50 per cent between 2024 and 2030, has emerged as a new growth engine for the national economy as leading players ramp up investment in research and production. The country’s drug and medical device businesses were forecast to top US$2.1 trillion in revenue by 2030 and US$3.2 trillion annually by 2050, according to estimates by UBS. In 2024, the sector generated about US$1.4 trillion in sales. “An ageing population offers the... https://www.scmp.com/business/china-business/article/3340333/chinas-drug-and-medical-device-sector-emerges-new-engine-economic-growth?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3340333/chinas-drug-and-medical-device-sector-emerges-new-engine-economic-growth?utm_source=rss_feed Sun, 18 Jan 2026 22:00:27 +0000 Coco Feng Coco Feng China has opened an antitrust investigation into Trip.com Group, the country’s largest online travel services provider, weeks before hundreds of millions of people on the mainland go away on holiday during the Lunar New Year break. The State Administration for Market Regulation (SAMR) on Wednesday said the group – operator of namesake platform Trip.com, Skyscanner, Ctrip, Qunar and Dutch site Travix – abused its “dominant market position” and engaged in “monopolistic practices”. The... https://www.scmp.com/tech/policy/article/3339915/beijing-launches-antitrust-investigation-tripcom-ahead-lunar-new-year-break?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3339915/beijing-launches-antitrust-investigation-tripcom-ahead-lunar-new-year-break?utm_source=rss_feed Wed, 14 Jan 2026 13:00:22 +0000 Chen Hong Chen Hong In a premium supermarket in Shanghai one recent weekend, 33-year-old information technology specialist Zhao Wenyu paused in front of the health food aisle, comparing protein content and ingredient lists on imported granola and organic milk – rather than checking discounts. Zhao now spends around 3,000 yuan (US$420) a month on organic food, nutritional supplements and functional beverages, up from about 1,200 yuan three years ago. “I don’t mind paying more if I am satisfied with the product’s... https://www.scmp.com/business/article/3339394/changing-tastes-chinas-new-affluent-consumers-seek-quality-not-extravagance?utm_source=rss_feed https://www.scmp.com/business/article/3339394/changing-tastes-chinas-new-affluent-consumers-seek-quality-not-extravagance?utm_source=rss_feed Sun, 11 Jan 2026 03:30:13 +0000 Ji Siqi,Sylvia Ma Ji Siqi,Sylvia Ma China has launched a market competition probe and assessment for its food delivery platforms, the State Council announced on Friday, a move analysts said was an affirmation of the country’s determination to continue to combat self-defeating competition. “Recently, issues such as excessive subsidies, price wars and control over traffic flow in the online food delivery platform service industry have become prominent,” according to a statement issued by the Anti-Monopoly and Anti-Unfair Competition... https://www.scmp.com/economy/china-economy/article/3339342/china-probe-food-delivery-platforms-under-anti-monopoly-law?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3339342/china-probe-food-delivery-platforms-under-anti-monopoly-law?utm_source=rss_feed Fri, 09 Jan 2026 09:17:12 +0000 Aileen Chuang Aileen Chuang China’s mergers and acquisitions (M&A) market is poised for another year of growth as investors regain confidence in the country’s assets and long-term growth prospects, and look beyond geopolitical and economic headwinds, according to industry experts. Investor optimism in 2026 would build on a deeper understanding of risks associated with regulatory restrictions, improved market conditions and success stories in the past year, said Kevin Yu Zhe, Shanghai-based partner at Zhong Lun Law... https://www.scmp.com/business/banking-finance/article/3338262/chinas-ma-market-poised-2026-expansion-investors-regain-confidence-assets?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3338262/chinas-ma-market-poised-2026-expansion-investors-regain-confidence-assets?utm_source=rss_feed Fri, 02 Jan 2026 00:30:09 +0000 Daniel Ren Daniel Ren Small restaurants across mainland China have taken a beating as budget-conscious consumers refrain from dining out because of prevailing pessimism about their income amid a shaky economy. Some establishments are already at a make-or-break point after posting losses for several straight months. “My family used to live on the restaurant, which generated strong cash flow for us,” said Zhang Hongbin, owner of a canteen serving noodles and dumplings on Lancun Road in Shanghai’s Pudong New Area. “But... https://www.scmp.com/business/china-business/article/3338242/small-restaurants-china-starve-consumers-suppress-appetite-spending?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3338242/small-restaurants-china-starve-consumers-suppress-appetite-spending?utm_source=rss_feed Thu, 01 Jan 2026 04:30:08 +0000 Luna Sun Luna Sun China is taking steps to reshape the direction of its foreign investment, unveiling a revised catalogue of encouraged industries that steers overseas capital towards the advanced and technologically complex sectors Beijing’s policymakers view as future growth drivers. The revised catalogue, which takes effect in February 2026, covers 1,679 industries – 205 more than the current version, which was released in 2022. In a statement on Wednesday, the Ministry of Commerce said the changes are aimed... https://www.scmp.com/economy/policy/article/3337727/china-sharpens-sales-pitch-overseas-investment-new-list-sought-after-sectors?utm_source=rss_feed https://www.scmp.com/economy/policy/article/3337727/china-sharpens-sales-pitch-overseas-investment-new-list-sought-after-sectors?utm_source=rss_feed Thu, 25 Dec 2025 11:00:18 +0000 Zhu Wenqian Zhu Wenqian Alex Chen – a Beijing office worker in his late 30s – used to buy his trainers the way plenty of Chinese millennials did: by the swoosh, the stripes and the logo. As a teenager, he would hunt down Nike and Adidas basketball shoes, pulled in as much by the mythology as the materials. These days, he said, he shops differently. “I have always been a huge basketball fan of Michael Jordan and Kobe Bryant,” he said. “Back then, I would specifically seek out Nike and Adidas basketball shoes – wearing a... https://www.scmp.com/business/china-business/article/3337213/swoosh-local-nike-loses-ground-china-domestic-rivals-start-sprint?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3337213/swoosh-local-nike-loses-ground-china-domestic-rivals-start-sprint?utm_source=rss_feed Mon, 22 Dec 2025 00:30:11 +0000