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China consumption

China consumption
The latest news, analysis and opinion on China consumption. In-depth analysis, industry insights and expert opinion.
Bubble tea chain Mixue Bingcheng joined the ranks of China’s top 100 listed companies in the first half of last year. Photo: Reuters
China’s private sector

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

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

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World Economic Forum (WEF) in Davos

‘No choice’: China seen eyeing consumption as a route out of export reliance

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China manufacturing

China targets hi-tech industries, household spending in 2026 with policy package

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Consumers

China’s consumers refuse to open their wallets. Is ‘luxury-phobia’ the problem?

Chinese households are not splashing out on luxury goods partly because they feel ‘stigmatised’ for doing so, scholar argues.

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A Labubu toy hangs from a consumer’s Hermes bag in Beijing. To get consumers spending, China should not stigmatise the pursuit of luxury goods, a professor at Peking University has argued. Photo: Beijing
Hong Kong stock market

Labubu maker Pop Mart surges after buy-back in show of confidence

Repurchase signals management’s confidence and healthy balance sheet, analysts say, though stock remains 40 per cent below last year’s peak.

China economy

Opinion | China’s focus is on stability as the US rocks the global boat

While Beijing has achieved its major economic goals for 2025, this year policymakers might be forced to focus on external crises and US foreign policy.

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China GDP

IMF raises China’s 2026 growth forecast to 4.5%, citing US ‘truce’ and stimulus

The fund predicts lower US tariffs and efforts to raise consumer spending may boost economy, though forecast short of last year’s growth.

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Kristalina Georgieva, the IMF’s managing director, delivers remarks at the IMF headquarters in Washington on April 17, 2025. Photo: EPA-EFE
China GDP

China’s two-speed economy faces tough 2026 as growth cools

Lost momentum, weak domestic demand and high yardsticks point to a challenging year ahead for the Chinese economy.

China GDP

China hits 2025 GDP target – but quarterly growth drops to 3-year low

China logs 5 per cent GDP growth in 2025, 4.5 per cent in fourth quarter as Beijing acknowledges ‘long-standing issues and new challenges’.

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China exports

Can China’s cosmetics brands rival K-beauty and refashion global markets?

Once the top export market for South Korean cosmetics, Chinese firms lead at home and have made headway overseas – but gaps remain.

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Illustration: Brian Wang
China economy

Opinion | Too few Chinese finish secondary school to sustain growth

To shift to a new growth model, China must redirect its focus from skyscrapers and infrastructure to raising educational attainment.

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Students study at a high school in Renxian county, Hebei province, on May 7, 2015. Photo: Xinhua
China economy

Why mortgage subsidies could be key to getting China’s consumers spending

Beijing is striving to boost household spending amid an economic slowdown. But first it needs to stabilise the housing market, scholars say.

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China economy

Opinion | China’s new property pivot is coming. Expect full stabilisation ahead

As property curbs to boost spending hit practical limits, a push to stabilise assets is now being seen as a prerequisite for consumer confidence.

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China travel

‘Structurally hurt’: why are Chinese tourists spending less abroad than before?

China’s outbound travel sector has bounced back from the pandemic, but the era of duty-free shopping sprees appears to be over.

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Customers shop for skincare products at a duty-free shopping mall in China’s southern Hainan province. China has opened up to more duty-free retail in recent years, reducing the need for Chinese tourists to splash out while abroad. Photo: Getty Images
China energy security

Can China’s cheap, renewable energy help it outrun the US in the AI race?

China’s energy buildout means cheap, green and reliable electricity fuels its manufacturing and tech industries, giving it an edge over rivals.

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Illustration: Henry Wong
China's economic recovery

China prioritises export controls, supply chains to shield economy in 2026

Commerce ministry also pledges to boost domestic demand, services and two-way investment over coming year.

China’s private sector

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

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

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Kweichow Moutai

Horse power: brands in China seek sales boost with Lunar New Year items

Distiller Kweichow Moutai among the companies launching limited-run Year of the Horse products to jolt revenues during the festive season.

Distiller Kweichow Moutai has released a limited promotional line of liquor commemorating the Year of the Horse. Photo: Kweichow Moutai/Handout
China inflation

China prices pick up, Venezuela raid fallout, Carney visit

This week: China inflation hits highest since February 2023, US abduction of Venezuela’s Maduro spurs criticism, Meta-Manus deal draws scrutiny. Next week: Canada’s Carney visits China, December trade figures come out, Jimmy Lai returns to court in Hong Kong and more.

China inflation

China’s consumer prices stay flat in 2025 amid focus on price wars

Beijing has been intensifying efforts to combat industrial overcapacity and fierce competition in key sectors, aiming to stabilise the economy and support growth.

US-China trade war

China says US trade war, tech curbs have spurred ‘independent innovation’

In the first year of new five-year plan, party mouthpiece says list of ‘chokepoint technologies’ is narrowing.

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A Chinese flag is displayed next to a “Made in China” sign seen on a printed circuit board with semiconductor chips. Photo: Reuters
Banking & finance

China signals flexible use of monetary tools in 2026 to support 5-year plan

Boosting domestic demand, addressing debt risks and promoting yuan’s international use also priorities for coming year.

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The People’s Bank of China has announced a series of goals for 2026, from promoting cross-border yuan use to increasing domestic consumption and managing debt risks. Photo: Shutterstock
China trade

China, South Korea sign US$44 million in trade deals after years of friction

High-level summit strengthens bilateral ties after years of strained relations, as China shores up regional relationships amid row with Japan.

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China economy

Opinion | Why China is still struggling to ‘invest in people’

To boost demand, Beijing must upend its long-held mantra of production over livelihoods and investment over consumption.

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Tourism

Travellers hoof it in China as horseback tourism makes strides

As Year of the Horse approaches, tourism operators are saddling up to capture enthusiasm for equestrian activity.

Riders perform at the opening ceremony of the Mongolian Horse Super League in Xiliin Gol, in China’s Inner Mongolia autonomous region, in July. Photo: Xinhua
China’s film industry

China’s box office up 22% in 2025 to US$7.4 billion, led by smash hit Ne Zha 2

World’s second-largest movie market sees domestic films capture nearly 80 per cent of sales, while Disney’s Zootopia sequel sets new high for imported titles.

A display promoting the record-breaking animated hit Ne Zha 2 is seen in China’s Liaoning province on February 13. Photo: Xinhua
China inflation

China must take action to avoid Japan-style deflation spiral, scholars warn

Unless Beijing introduces more forceful policies, consumers could get locked into a mindset that is ‘nearly impossible to break’, scholars say.

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China travel

China’s service sector shines as holidaymakers eye bespoke adventures with pets

While broader consumption remains soft, demand for personalised itineraries and snow sports is growing, offering a boost to the holiday economy.

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