https://www.scmp.com/rss/525117/feed Wenqian joined the Post as a senior business reporter in December 2025. Previously, she worked at China Daily in Beijing. She holds a master’s degree in journalism from New York University, and has won the William Randolph Hearst Foundation journalism award for multimedia coverage in the US. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Zhu Wenqian Zhu Wenqian American fried chicken chain Popeyes made a comeback in Beijing on Friday, as its first new store in the city drew long queues of diners more than 20 years after the brand closed its original Beijing outlets in 2002 and exited the Chinese market in 2003. Building on its initial return to China in 2020, the chain was now ready to accelerate its expansion this year, as consumer tastes had evolved significantly and it was bullish about growth potential fuelled by young consumers, it said. Analysts... https://www.scmp.com/business/article/3349659/popeyes-returns-beijing-after-24-years-global-chains-double-down-china?utm_source=rss_feed https://www.scmp.com/business/article/3349659/popeyes-returns-beijing-after-24-years-global-chains-double-down-china?utm_source=rss_feed Fri, 10 Apr 2026 11:00:12 +0000 Zhu Wenqian Zhu Wenqian China is undergoing a profound demographic shift, with its population ageing at a pace and scale unprecedented globally, and the trend has opened up significant opportunities for elderly care and insurance sectors. “This massive and rapidly expanding elderly population should be a major consumer of healthcare services and therapeutics,” Citi Research analyst John Yung said in a report in late March. “The healthcare demands are rigid, long-term and diverse.” Age-friendly products are rapidly... https://www.scmp.com/business/china-business/article/3349000/demographic-shift-fuels-growth-chinas-elderly-care-insurance-sectors?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3349000/demographic-shift-fuels-growth-chinas-elderly-care-insurance-sectors?utm_source=rss_feed Sun, 05 Apr 2026 05:00:09 +0000 Zhu Wenqian Zhu Wenqian Japanese retailers are scaling back in north China as fierce competition and weak pricing power erode profitability, forcing store closures in major cities and prompting calls for a sharper localisation strategy. Groups such as Aeon and Ito-Yokado have closed outlets in Chinese cities in recent years, highlighting mounting pressure from domestic rivals and shifting consumer habits in the region. Aeon said it closed three supermarkets in Tianjin and one in neighbouring Hebei province after March... https://www.scmp.com/business/article/3348978/japanese-chains-aeon-ito-yokado-retreat-north-china-instant-retail-race-heats?utm_source=rss_feed https://www.scmp.com/business/article/3348978/japanese-chains-aeon-ito-yokado-retreat-north-china-instant-retail-race-heats?utm_source=rss_feed Sun, 05 Apr 2026 03:00:07 +0000 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 Major Chinese property developers reported operating losses in 2025 as a recovery in the world’s second-largest economy remained elusive after five years of decline, with some headline profits driven mainly by non-cash gains from debt restructuring. China Vanke posted a record 88.56 billion yuan (US$12.9 billion) loss last year in the latest sign that mainland developers continued to struggle under debt pressure and slowing residential sales. The developer said its annual revenue fell 32 per... https://www.scmp.com/business/article/3348596/vanke-posts-record-8856-billion-yuan-loss-china-property-market-woes-linger?utm_source=rss_feed https://www.scmp.com/business/article/3348596/vanke-posts-record-8856-billion-yuan-loss-china-property-market-woes-linger?utm_source=rss_feed Wed, 01 Apr 2026 01:58:21 +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 Zhu Wenqian Zhu Wenqian Chinese toymaker Pop Mart reported strong annual growth in revenue and net profit for 2025, but not enough to alleviate investor fears that the company remains too reliant on the Labubu phenomenon. Annual revenue jumped 184.7 per cent from a year earlier to 37.12 billion yuan (US$5.4 billion), while net profit surged 284.5 per cent to 13.08 billion yuan, the company said on Wednesday. However, its Hong Kong-listed shares plunged 22.5 per cent to HK$168.30 on Wednesday, marking the biggest drop... https://www.scmp.com/business/article/3347851/pop-mart-shares-dive-despite-soaring-profit-investors-fear-labubu-dependence?utm_source=rss_feed https://www.scmp.com/business/article/3347851/pop-mart-shares-dive-despite-soaring-profit-investors-fear-labubu-dependence?utm_source=rss_feed Wed, 25 Mar 2026 08:30:12 +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 Zhu Wenqian Zhu Wenqian Major Chinese consumer stocks listed in Hong Kong rose immediately after reporting strong full-year earnings, but retreated on Wednesday. Analysts said the results did not point to a broad recovery in the consumer market but instead underscored structural divergence and new growth drivers in mainland China consumption. Jeweller Laopu Gold posted stronger-than-expected results for 2025, with revenues of 27.3 billion yuan (US$4 billion) last year, a 221 per cent surge year on year, while net... https://www.scmp.com/business/banking-finance/article/3347779/china-consumer-stocks-jump-strong-earnings-analysts-warn-limited-recovery?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3347779/china-consumer-stocks-jump-strong-earnings-analysts-warn-limited-recovery?utm_source=rss_feed Wed, 25 Mar 2026 01:39:46 +0000 Zhu Wenqian Zhu Wenqian A steady stream of cars pulled into an ordinary petrol station in Beijing’s Chaoyang District early on Monday afternoon, keeping the pumps far busier than on a normal weekday as drivers rushed to refuel ahead of the year’s biggest price hike at midnight. “I’m taking my lunch break to top up the tank quickly ahead of the price increase, as I fear long queues after work in the evening,” said Frank Jin, an office employee in Beijing. China will raise refined oil prices at midnight, marking the... https://www.scmp.com/business/china-business/article/3347610/drivers-china-rush-fill-petrol-tanks-ahead-biggest-price-hike-year?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3347610/drivers-china-rush-fill-petrol-tanks-ahead-biggest-price-hike-year?utm_source=rss_feed Mon, 23 Mar 2026 11:22:06 +0000 Zhu Wenqian,Cheryl Arcibal Zhu Wenqian,Cheryl Arcibal Prime office vacancy rates in Hong Kong’s main business district dropped to single digits for the first time in 26 months, lifting overall rents in the city’s struggling office property market, according to JLL. The vacancy rate in Central for premium offices fell to 9.9 per cent in February from 10.1 per cent the previous month, the property consultancy said. The last time a single-digit rate was recorded for grade A offices in the district was in December 2023, when it also hit 9.9 per cent,... https://www.scmp.com/business/article/3347209/office-vacancy-rate-hong-kongs-central-falls-single-digits-after-2-years?utm_source=rss_feed https://www.scmp.com/business/article/3347209/office-vacancy-rate-hong-kongs-central-falls-single-digits-after-2-years?utm_source=rss_feed Fri, 20 Mar 2026 00:30:12 +0000 Zhu Wenqian Zhu Wenqian Chinese toymaker Pop Mart and Sony Pictures Entertainment announced on Thursday a feature film starring Labubu, the company’s most popular character. Analysts said the film was a strategic move to extend Labubu’s intellectual property (IP) value and support medium-term growth, following the trajectory of global icons like Barbie and Hello Kitty. The film, still in early development, would be a mix of live action and computer-generated imagery, Pop Mart said in a statement. Lung Ka-sing, the... https://www.scmp.com/business/companies/article/3347028/pop-marts-labubu-headed-big-screen-collaboration-sony-pictures?utm_source=rss_feed https://www.scmp.com/business/companies/article/3347028/pop-marts-labubu-headed-big-screen-collaboration-sony-pictures?utm_source=rss_feed Thu, 19 Mar 2026 00:00:16 +0000 Zhu Wenqian Zhu Wenqian Shanghai has become the latest mainland Chinese city to lower the minimum down payment requirement for loans on commercial-use properties – including shops and business flats – from 50 per cent to at least 30 per cent. Analysts said the move could help reduce excess inventory in the struggling commercial real estate market, though stronger measures might still be needed. “There is still a meaningful gap between the minimum down payment ratio for residential properties and that for mixed-use... https://www.scmp.com/business/article/3346878/shanghai-joins-major-cities-loosening-commercial-property-loan-rules?utm_source=rss_feed https://www.scmp.com/business/article/3346878/shanghai-joins-major-cities-loosening-commercial-property-loan-rules?utm_source=rss_feed Tue, 17 Mar 2026 08:30:40 +0000 Zhu Wenqian Zhu Wenqian Mainland China’s first-tier new home prices were unchanged month on month in February, ending a nine-month decline, while the year-on-year decline continued to widen from tier one to tier three cities, and analysts said it would be important to watch whether the month-on-month stabilisation can be sustained. New home prices in first-tier cities were flat in February from January – Beijing and Shanghai each rose 0.2 per cent, Guangzhou was unchanged and Shenzhen slipped 0.3 per cent, according to... https://www.scmp.com/business/article/3346737/chinas-first-tier-home-prices-stabilise-february-after-9-months-decline?utm_source=rss_feed https://www.scmp.com/business/article/3346737/chinas-first-tier-home-prices-stabilise-february-after-9-months-decline?utm_source=rss_feed Mon, 16 Mar 2026 08:28:36 +0000 Zhu Wenqian Zhu Wenqian US fashion brand Guess has told customers it will close all its stores in mainland China by the end of March, pending a new business model at a time when a growing number of international fashion retailers retreat from the market amid what analysts believe are issues including weak localisation and slow decision-making. Other foreign brands that have withdrawn entirely from mainland China in recent years include US label Old Navy, UK brand Topshop, and several labels owned by Spanish fashion... https://www.scmp.com/business/banking-finance/article/3346601/guess-says-it-will-shut-all-mainland-china-stores-amid-retail-rethink?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3346601/guess-says-it-will-shut-all-mainland-china-stores-amid-retail-rethink?utm_source=rss_feed Mon, 16 Mar 2026 03:12:32 +0000 Zhu Wenqian Zhu Wenqian Several years ago, prime ground-floor spaces in major shopping malls across Beijing and Shanghai’s business districts were commonly occupied by electric vehicle (EV) showrooms, with staff often escorting customers to car parks for test drives. Many of these stores have now closed amid sluggish EV sales – yet mall owners have not been left disappointed. Instead, a new retail landscape is emerging, filled with tenants who are proving to be even more effective at drawing crowds and boosting rental... https://www.scmp.com/business/article/3346537/china-mall-shuffle-evs-exit-whos-filling-ground-floor-showrooms?utm_source=rss_feed https://www.scmp.com/business/article/3346537/china-mall-shuffle-evs-exit-whos-filling-ground-floor-showrooms?utm_source=rss_feed Sun, 15 Mar 2026 04:00:12 +0000 Zhu Wenqian Zhu Wenqian Hong Kong flag carrier Cathay Pacific Airways plans to hire 3,000 employees globally this year, including pilots and flight attendants, to support its growth plan, with the airline expressing strong confidence in its future expansion potential. The carrier launched its global recruitment drive in Beijing on Saturday as part of efforts to attract more talent from mainland China to support its future development plans, including promoting inbound tourism. Currently, the company has more than... https://www.scmp.com/news/hong-kong/transport/article/3346613/beijing-first-stop-cathay-launches-global-drive-hire-3000-workers?utm_source=rss_feed https://www.scmp.com/news/hong-kong/transport/article/3346613/beijing-first-stop-cathay-launches-global-drive-hire-3000-workers?utm_source=rss_feed Sat, 14 Mar 2026 11:52:05 +0000 Zhu Wenqian Zhu Wenqian Chow Tai Fook Jewellery Group’s recent launch of a series of high-priced gold-inlaid accessories on the mainland has sparked online debate amid China’s slowing consumer market. Last week, the Hong Kong-listed jeweller showcased several items on its official Weibo account, including a diamond-studded gold AirPods case priced at 788,800 yuan (US$115,000) and gold-inlaid hair clips costing 2,080 yuan each, containing 0.42 grams of gold. The earphone case, made with about 350 grams of gold, was... https://www.scmp.com/business/china-business/article/3346436/all-glitters-goes-viral-chow-tai-fook-unveils-us115000-gold-airpods-case?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3346436/all-glitters-goes-viral-chow-tai-fook-unveils-us115000-gold-airpods-case?utm_source=rss_feed Fri, 13 Mar 2026 05:00:09 +0000 Zhu Wenqian Zhu Wenqian Sunshine 100 China Holdings, a mainland Chinese developer facing debts amid China’s property sector downturn, said on Thursday that it plans to oppose a winding-up petition filed against it in Hong Kong. HTI Financial Solutions and Haitong International Financial Products filed the winding-up petition against the developer at the High Court of Hong Kong over an unpaid redemption sum of about US$205 million, including accrued interest, due on March 19, 2025, according to a Sunshine 100 filing... https://www.scmp.com/business/article/3346360/chinese-developer-sunshine-100-oppose-hong-kong-winding-petition-over-us205m-debt?utm_source=rss_feed https://www.scmp.com/business/article/3346360/chinese-developer-sunshine-100-oppose-hong-kong-winding-petition-over-us205m-debt?utm_source=rss_feed Thu, 12 Mar 2026 10:00:28 +0000 Zhu Wenqian Zhu Wenqian For Steven Zhou, a 40-year-old Beijing office worker, suburban outlet stores offer a better shopping experience than urban malls, allowing him to escape the city, park his car without frustration and, most importantly, find good deals. “Outlets offer a wide selection of brands, with attractive discounts, especially on sportswear,” Zhou said. Across the mainland, outlets are expanding while traditional and luxury malls face high vacancy rates. Offering well-known brands at discounted prices,... https://www.scmp.com/business/article/3345736/chinas-shoppers-head-suburban-outlets-bright-spot-retail-property?utm_source=rss_feed https://www.scmp.com/business/article/3345736/chinas-shoppers-head-suburban-outlets-bright-spot-retail-property?utm_source=rss_feed Sun, 08 Mar 2026 00:30:08 +0000 Zhu Wenqian Zhu Wenqian More of the world’s billionaires live in China than anywhere else, after stock market gains and artificial intelligence generated a record number of billionaires globally, according to the latest Hurun Global Rich List. China overtook the United States to recapture bragging rights on the annual report released by Hurun Group on Thursday, with 1,110 billionaires out of 4,020 globally. China added 287 billionaires since the previous edition of the report, more than recouping its losses over the... https://www.scmp.com/business/china-business/article/3345577/china-worlds-billionaire-capital-again-hurun-rich-list-swells-stock-surge?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3345577/china-worlds-billionaire-capital-again-hurun-rich-list-swells-stock-surge?utm_source=rss_feed Thu, 05 Mar 2026 10:30:13 +0000 Zhu Wenqian Zhu Wenqian The momentum in China’s venture-capital industry, which is recovering after years of decline, is likely to continue this year, mainly bolstered by government financing, but an expert warned that the lack of funding diversity poses a hidden risk. Fundraising picked up in 2025, with most of the gains coming from government sources, as central policymakers loosened rules to allow local governments to issue more bonds to finance government guidance funds, according to a report released on Tuesday by... https://www.scmp.com/business/banking-finance/article/3345502/chinas-venture-capital-revival-fuelled-state-cash-faces-risk-losing-momentum?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3345502/chinas-venture-capital-revival-fuelled-state-cash-faces-risk-losing-momentum?utm_source=rss_feed Thu, 05 Mar 2026 03:20:41 +0000 Zhu Wenqian Zhu Wenqian With major Persian Gulf aviation hubs largely paralysed by airspace closures amid the escalating conflict involving the US, Israel and Iran, travellers have flocked to direct Asia-Europe routes, driving a sharp surge in airfares. This week, economy class on most direct one-way Beijing-Paris flights is fully booked, with a small number of economy seats – plus premium economy and business class seats – remaining. Economy seats on an Air China flight on Sunday are already booked out, with a one-way... https://www.scmp.com/economy/china-economy/article/3345379/how-persian-gulf-turmoil-reshaping-europe-asia-aviation-landscape?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345379/how-persian-gulf-turmoil-reshaping-europe-asia-aviation-landscape?utm_source=rss_feed Wed, 04 Mar 2026 07:00:26 +0000 Themis Qi,Zhu Wenqian Themis Qi,Zhu Wenqian The head of Chinese electric vehicle (EV) maker Xpeng said the country should accelerate the development of autonomous driving technology amid slowing sales growth in the sector. He Xiaopeng, founder and CEO of the Guangzhou-based company, said on Monday that the country should skip an intermediate step and move directly to a more advanced version of autonomous capabilities, adding that Beijing should adjust regulations and policies faster to make this happen. He said he would submit this... https://www.scmp.com/business/china-evs/article/3345163/why-wait-china-should-skip-step-self-driving-cars-xpeng-founder-and-ceo-says?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3345163/why-wait-china-should-skip-step-self-driving-cars-xpeng-founder-and-ceo-says?utm_source=rss_feed Mon, 02 Mar 2026 11:33:07 +0000 Zhu Wenqian Zhu Wenqian In the run-up to Lunar New Year, Chinese consumers were busy choosing gold jewellery, a traditional gift with deep cultural connotations, as strong market sentiment overshadowed sharp fluctuations in gold prices and assessments of the sector’s outlook by investment banks remained upbeat. Jewellers offered small discounts to boost holiday sales. For example, Chow Tai Fook Jewellery Group, China’s largest retailer by store count, launched an 80 yuan (US$12) discount per gram on gold items in its... https://www.scmp.com/business/commodities/article/3343782/strong-lunar-new-year-demand-fuels-chinas-gold-jewellery-market?utm_source=rss_feed https://www.scmp.com/business/commodities/article/3343782/strong-lunar-new-year-demand-fuels-chinas-gold-jewellery-market?utm_source=rss_feed Tue, 17 Feb 2026 06:00:15 +0000 Zhu Wenqian Zhu Wenqian US warehouse retailer Sam’s Club has gained traction among Chinese shoppers by strengthening localisation and launching more China-tailored products, continuing to expand even as many foreign retailers have scaled back their mainland operations or exited the market. Instead of replicating its US model, Walmart-owned Sam’s Club has introduced products catering to local tastes, including copper gourd ornaments, ginseng and some traditional food items in the days leading up to the Lunar New Year... https://www.scmp.com/business/china-business/article/3343683/walmarts-sams-club-cracks-china-market-formula-even-foreign-retailers-shut-shop?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3343683/walmarts-sams-club-cracks-china-market-formula-even-foreign-retailers-shut-shop?utm_source=rss_feed Tue, 17 Feb 2026 04:30:07 +0000 Zhu Wenqian Zhu Wenqian Local government support has lifted sentiment in China’s struggling property sector ahead of the spring sales season, but analysts remain divided on the outlook as structural pressures persist. New and existing home prices across 70 major mainland cities fell at a slower pace month on month in January, while annual declines widened, according to data released by the National Bureau of Statistics (NBS) on Friday. New home prices in the four tier-one cities dropped 2.1 per cent year on year, 0.4... https://www.scmp.com/business/article/3343581/policy-backing-steadies-china-property-outlook-full-rebound-still-elusive?utm_source=rss_feed https://www.scmp.com/business/article/3343581/policy-backing-steadies-china-property-outlook-full-rebound-still-elusive?utm_source=rss_feed Sun, 15 Feb 2026 01:30:13 +0000 Zhu Wenqian Zhu Wenqian Mainland China’s new and existing home prices posted a smaller month-on-month decline in January, but the annual drop widened, indicating a housing market that has yet to find a clear floor, analysts said. Commercial residential prices across 70 major cities fell at a slower pace from December on a monthly basis, while new-home prices in the four tier-one cities dropped 2.1 per cent year on year, 0.4 percentage points steeper than the previous month, according to data released by the National... https://www.scmp.com/business/article/3343442/china-housing-market-shows-no-clear-turning-point-price-declines-continue?utm_source=rss_feed https://www.scmp.com/business/article/3343442/china-housing-market-shows-no-clear-turning-point-price-declines-continue?utm_source=rss_feed Fri, 13 Feb 2026 07:00:44 +0000 Zhu Wenqian Zhu Wenqian Customers who had booked Lunar New Year’s Eve dinners at Shanghai Min, a formal Shanghainese cuisine restaurant chain, were left in limbo after several of its mainland outlets closed, leaving many still waiting for refunds. The struggles of Shanghai XNG Holdings, the operator of the premium Shanghai Min restaurants that had carved a niche in business dining, reflect the challenging environment in the mainland’s restaurant sector as consumers remain careful with their spending amid economic... https://www.scmp.com/business/china-business/article/3343153/restaurant-group-xngs-shares-plunge-after-closure-10-shanghai-min-outlets?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3343153/restaurant-group-xngs-shares-plunge-after-closure-10-shanghai-min-outlets?utm_source=rss_feed Wed, 11 Feb 2026 06:30:08 +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 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 Yulu Ao,Zhu Wenqian Yulu Ao,Zhu Wenqian A global swing over the past few days - from technology stocks to commodities and then extending to already sold down cryptocurrencies - has rattled investors, as violent cross-asset moves force markets to face a fundamental repricing in the digital economy and the broader implications of artificial intelligence. Analysts now warn that heightened volatility across asset classes could persist for months. The reassessment has played out through sharp declines across major benchmarks, led by a... https://www.scmp.com/business/china-business/article/3342680/tech-sell-rattles-investors-cross-asset-volatility-set-linger?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3342680/tech-sell-rattles-investors-cross-asset-volatility-set-linger?utm_source=rss_feed Fri, 06 Feb 2026 09:56:10 +0000 Zhu Wenqian Zhu Wenqian In a move to bolster the stability of the property market, Shanghai unveiled a plan to buy second-hand homes for use as public rental housing, with the move timed to coincide with the opening of the city’s annual “two sessions” meetings. With the official launch of a pilot programme on Monday, the city aims to meet rental demand from young residents including college students and new urban arrivals. The initiative will roll out first in the downtown districts of Pudong, Jing’an and Xuhui. Backed... https://www.scmp.com/business/article/3342204/shanghai-buy-second-hand-homes-rental-housing-pilot-support-property-market?utm_source=rss_feed https://www.scmp.com/business/article/3342204/shanghai-buy-second-hand-homes-rental-housing-pilot-support-property-market?utm_source=rss_feed Tue, 03 Feb 2026 06:45:34 +0000 Zhu Wenqian Zhu Wenqian China’s largest private education company in terms of market value has begun offering leisure courses such as dance and photography for older adults in Beijing, as it pivots towards the country’s fast-growing silver economy. Beijing-based New Oriental Education & Technology Group – which is dual listed in New York and Hong Kong – built its reputation by helping millions of Chinese students prepare for overseas English-language tests such as the Test of English as a Foreign Language (TOEFL) and... https://www.scmp.com/business/article/3342108/silver-bullet-new-oriental-pivots-late-age-learners-china-ages?utm_source=rss_feed https://www.scmp.com/business/article/3342108/silver-bullet-new-oriental-pivots-late-age-learners-china-ages?utm_source=rss_feed Mon, 02 Feb 2026 09:31:54 +0000 Zhu Wenqian Zhu Wenqian Chinese companies are driving a fresh wave of investment in overseas properties, with new energy industrial facilities, cross-border e-commerce logistics centres, and smart city projects becoming investment hotspots, Knight Frank has said. Traditional residential development was on the wane, while industrial property, logistics real estate and commercial complexes were emerging as core investment priorities, according to a January report by the London-based property consultancy. It forecast that... https://www.scmp.com/business/article/3341527/chinese-firms-are-scoping-out-overseas-property-what-catching-their-eye?utm_source=rss_feed https://www.scmp.com/business/article/3341527/chinese-firms-are-scoping-out-overseas-property-what-catching-their-eye?utm_source=rss_feed Sun, 01 Feb 2026 08:00:10 +0000 Zhu Wenqian Zhu Wenqian More foreign companies have rolled out instant delivery services exclusively for China or upgraded to more comprehensive offerings in the country, as they vie to stand out in the highly digitalised market and cater to consumers’ strong demand for instant services. Multinationals offering instant delivery now include Swedish furniture retailer Ikea, German tyre manufacturer Continental, US warehouse-style retailer Sam’s Club and German discount supermarket chain Aldi Nord. “China leads the world... https://www.scmp.com/business/china-business/article/3341868/multinationals-race-chinas-us1439-billion-instant-retail-market?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3341868/multinationals-race-chinas-us1439-billion-instant-retail-market?utm_source=rss_feed Sun, 01 Feb 2026 03:00:15 +0000 Zhu Wenqian Zhu Wenqian With economic and geopolitical instability showing little sign of retreat in 2026, momentum from last year’s strong gold demand was likely to persist this year, the London-based World Gold Council (WGC) said on Thursday. Gold investment demand across sectors was expected to remain firm, underpinned by anticipated US Federal Reserve rate cuts, the prospect of a weaker US dollar and the reduced appeal of bonds as risk premiums rise, the WGC said in its outlook. “The continued rally in spot gold... https://www.scmp.com/business/article/3341699/gold-demand-set-stay-strong-2026-risks-persist-world-gold-council?utm_source=rss_feed https://www.scmp.com/business/article/3341699/gold-demand-set-stay-strong-2026-risks-persist-world-gold-council?utm_source=rss_feed Thu, 29 Jan 2026 11:00:18 +0000 Zhu Wenqian Zhu Wenqian Young consumers’ spending on anime, comics, games and pop toys, alongside growing wellness expenditures by senior consumers, will continue to shape China’s consumption landscape this year, according to HSBC Holdings. Against this backdrop, the coming nine-day Spring Festival holiday was set to benefit the food, hotel and tourism sectors, HSBC said in a trend report, adding that this tailwind would propel first-quarter growth in the food sector, particularly for snack food and dairy... https://www.scmp.com/business/china-business/article/3341239/china-needs-silver-and-young-spenders-plus-policy-support-consumption-growth-hsbc?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3341239/china-needs-silver-and-young-spenders-plus-policy-support-consumption-growth-hsbc?utm_source=rss_feed Mon, 26 Jan 2026 07:33:54 +0000 Zhu Wenqian Zhu Wenqian Hong Kong developer Swire Properties is doubling down on mainland China retail, betting accelerated investment in larger, more mature cities – combined with its deep local knowledge – can deliver growth despite the slowing retail property market. The developer will launch its first Taikoo Place in Beijing in phases in late 2026, open a Taikoo Li in Sanya – a tropical city in the island province of Hainan – by the end of this year, and open another Taikoo Li in Xian, capital of northwestern... https://www.scmp.com/business/article/3341100/swire-properties-remains-bullish-mainland-retail-despite-slowing-market?utm_source=rss_feed https://www.scmp.com/business/article/3341100/swire-properties-remains-bullish-mainland-retail-despite-slowing-market?utm_source=rss_feed Sun, 25 Jan 2026 22:30:12 +0000 Zhu Wenqian Zhu Wenqian Hong Kong health and beauty retailer AS Watson Group, owner of the iconic Watsons brand, is intensifying its focus on key growth areas, particularly instant retail and community stores in mainland China, as the company explores strategies to “enhance long-term value for shareholders”. The retail arm of conglomerate CK Hutchison, Watsons had accelerated its expansion in mainland China by increasing the number of physical stores and boosting online sales in response to shifting market dynamics,... https://www.scmp.com/business/companies/article/3340858/watsons-doubles-down-china-parent-ck-hutchison-ponders-listing?utm_source=rss_feed https://www.scmp.com/business/companies/article/3340858/watsons-doubles-down-china-parent-ck-hutchison-ponders-listing?utm_source=rss_feed Thu, 22 Jan 2026 10:01:39 +0000 Zhu Wenqian Zhu Wenqian More economy and mid-range hotel operators in China are leasing office buildings for conversion to guest accommodation, and such flexible, mixed-use approaches are expected to increase amid a continued weakening of the office market. In some Chinese cities, the practice of multiple hotel brands co-leasing separate floors within a single building has become more prevalent, fuelled by interest from both property owners and hotel operators. In Hangzhou, the capital of eastern China’s Zhejiang... https://www.scmp.com/business/article/3340179/hotel-conversions-gain-traction-chinas-office-market-amid-high-vacancies?utm_source=rss_feed https://www.scmp.com/business/article/3340179/hotel-conversions-gain-traction-chinas-office-market-amid-high-vacancies?utm_source=rss_feed Sun, 18 Jan 2026 03:00:10 +0000 Zhu Wenqian Zhu Wenqian An increasing number of Chinese and foreign banks are launching gold-linked structured deposits to attract investors seeking higher returns tied to gold prices, which analysts say provide an alternative to poor returns from time deposits. Rising gold prices, which continue to hit new highs this year, are fuelling renewed enthusiasm in gold as an investment in mainland China. While gold has increased 6 per cent this year to over US$4,620 an ounce, a Goldman Sachs forecast last month projected... https://www.scmp.com/business/commodities/article/3340107/chinese-banks-lure-investors-gold-linked-deposits-amid-soaring-prices?utm_source=rss_feed https://www.scmp.com/business/commodities/article/3340107/chinese-banks-lure-investors-gold-linked-deposits-amid-soaring-prices?utm_source=rss_feed Sat, 17 Jan 2026 01:30:14 +0000 Zhu Wenqian Zhu Wenqian Distressed Chinese property developer Vanke’s potential debt restructuring constitutes a one-off, technical default, and was not likely to result in contagion effects, according to an HSBC report. The leading mainland developer before it got caught up in the property crisis, Vanke has not yet registered a material default on its domestic bonds. However, two of its key medium-term notes have entered grace periods, and S&P downgraded the company’s long-term issuer credit rating from “CCC-” to “SD”... https://www.scmp.com/business/article/3339624/expect-no-systemic-shock-chinese-developer-vankes-technical-default-hsbc?utm_source=rss_feed https://www.scmp.com/business/article/3339624/expect-no-systemic-shock-chinese-developer-vankes-technical-default-hsbc?utm_source=rss_feed Tue, 13 Jan 2026 00:30:10 +0000 Zhu Wenqian Zhu Wenqian Mainland China’s retail and retail property sectors have suffered another blow amid a fresh wave of store closures by foreign and Hong Kong brands. “The series of closures come as a combined result of their outdated business models and profound changes in the macroeconomic environment,” said Wang Tianshi, an analyst at Shanghai-based LeadLeo Research Institute. “Compared with emerging mainland retailers, Hong Kong and foreign brands often remain under a ‘selling on the mainland’ phase, rather... https://www.scmp.com/business/china-business/article/3339368/foreign-hong-kong-retailers-close-stores-mainland-china-amid-changing-dynamics?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3339368/foreign-hong-kong-retailers-close-stores-mainland-china-amid-changing-dynamics?utm_source=rss_feed Mon, 12 Jan 2026 00:30:16 +0000 Zhu Wenqian Zhu Wenqian Ikea will close seven stores in mainland China, as the multinational furniture retailer grapples with the country’s weak property market and sluggish consumer spending, which have dampened demand for its goods. Following a comprehensive review, Ikea China said the seven stores would cease operations from February 2. These are located in Shanghai’s suburban Baoshan district, Guangzhou, Tianjin, Nantong and Xuzhou in eastern Jiangsu province, Ningbo in eastern Zhejiang province and Harbin in... https://www.scmp.com/business/china-business/article/3339068/furniture-retailer-ikea-close-seven-stores-china-amid-property-market-slump?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3339068/furniture-retailer-ikea-close-seven-stores-china-amid-property-market-slump?utm_source=rss_feed Wed, 07 Jan 2026 10:30:44 +0000 Zhu Wenqian Zhu Wenqian Singapore and Beijing have emerged among the world’s most liveable cities for tech workers, according to Savills’ inaugural Matcha Index, which ranks locations by buzz and by the spaces where these employees can work, connect and spark ideas over a hot – or cold – matcha drink. The index, released on Tuesday, pointed out how cafe culture has become a vital part of the social infrastructure that supports the tech ecosystem, and that matcha lattes have taken over as the “go-to” drink for young... https://www.scmp.com/business/china-business/article/3338901/singapore-beijing-land-top-10-savills-inaugural-matcha-index-global-tech-cities?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3338901/singapore-beijing-land-top-10-savills-inaugural-matcha-index-global-tech-cities?utm_source=rss_feed Tue, 06 Jan 2026 23:30:10 +0000 Zhu Wenqian Zhu Wenqian Despite China-EU trade frictions, Paris and other European cities remain the top destinations for Chinese travellers, with growing China-France trade and visa-free entry spurring companies like Air France-KLM to explore new opportunities. The Franco-Dutch airline group reported strong inbound demand from Europe in 2025, driven by China’s visa-free policy for travellers from more than 30 European nations, covering both business and leisure segments. In the first three quarters, the company posted... https://www.scmp.com/business/china-business/article/3337588/china-europe-travel-markets-resilience-keeps-air-france-klm-optimistic-despite-headwinds?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3337588/china-europe-travel-markets-resilience-keeps-air-france-klm-optimistic-despite-headwinds?utm_source=rss_feed Thu, 01 Jan 2026 03:30:10 +0000 Zhu Wenqian Zhu Wenqian More young Chinese consumers are opting for bed-and-breakfast stays at private villas to ring in the New Year, drawn to the larger space, set-up options and enhanced privacy offered by these properties, leading to a fresh round of competition for hoteliers. That has prompted B&B operators to step up efforts in creating distinct ritualistic experiences – such as group countdown events, fireworks displays and complimentary bottles of wine – to attract more guests while standing out in a crowded... https://www.scmp.com/business/china-business/article/3338132/chinas-gen-z-consumers-drive-rise-homestay-bookings-ring-new-year?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3338132/chinas-gen-z-consumers-drive-rise-homestay-bookings-ring-new-year?utm_source=rss_feed Thu, 01 Jan 2026 01:00:14 +0000 Zhu Wenqian Zhu Wenqian China will lower value-added tax (VAT) on individual home resales from January 1, but while the measure has drawn interest from consumers, property agents have said most remain cautious and are adopting a wait-and-see approach. The policy would work to a certain extent, but its ability to revive the housing market was likely to be limited, they added. Individuals selling residential properties within two years of purchase would now be subject to a VAT rate of 3 per cent, down from 5 per cent,... https://www.scmp.com/business/banking-finance/article/3338284/china-housing-market-gets-vat-relief-resales-demand-outlook-stays-subdued?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3338284/china-housing-market-gets-vat-relief-resales-demand-outlook-stays-subdued?utm_source=rss_feed Wed, 31 Dec 2025 09:30:12 +0000 Zhu Wenqian Zhu Wenqian The Beijing municipal government has further relaxed home buying curbs by lowering the threshold for individual income tax payments and by allowing multi-child families to purchase extra properties. The move was seen as a precursor to more national supportive policies expected in 2026 aimed at shoring up the sluggish property market, an industry expert said. China aims to stabilise the nation’s property market as part of its 15th Five-Year Plan, which kicks off in 2026, according to a national... https://www.scmp.com/business/china-business/article/3337794/beijing-municipality-eases-home-purchase-curbs-shore-sluggish-market?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3337794/beijing-municipality-eases-home-purchase-curbs-shore-sluggish-market?utm_source=rss_feed Fri, 26 Dec 2025 08:00:43 +0000