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Consumers

Consumers
News about consumer spending and shifting shopping habits from around the world with a focus on developments in Hong Kong and mainland China.
Home buyers shop at a pre-sale property in Yangxin county, Binzhou city, in eastern China’s Shandong province, on February 23. Photo: CFOTO/Future Publishing via Getty Images
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?

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Hong Kong society

HK$5 million plan to install anti-terrorism bollards near Hong Kong’s Sogo store

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IPO

Chinese chain Qdama, known for its night discounts, plans Hong Kong IPO

The leading seller of meat and fresh produce on the mainland plans to open 1,400 stores in the next five years using proceeds from the IPO.

A Qdama store in Hong Kong’s Quarry Bay district. Photo: Handout
Mergers & Acquisitions

Johnnie Walker maker Diageo mulls options for China assets including sale: sources

Goldman Sachs and UBS are reviewing Diageo’s operations and are sounding out interest from local strategic buyers and private equity firms.

Malaysia

‘Who can we trust?’: Nestle formula recall rattles Malaysian parents

Despite assurances that local stocks are safe, wary parents are scouring ingredient lists and doing their own ‘due diligence’.

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India

Gig workers’ strike in India spurs debate on human cost of delivery race

More than 200,000 gig workers recently staged protests across major Indian cities, prompting concerns about the necessity of quick commerce.

More than 200,000 gig workers staged protests across major Indian cities on New Year’s Eve to demand for legislative protection, social security benefits and better wages. Photo: Anadolu via Getty Images
Artificial intelligence

Ant International teams up with Google on use of Universal Commerce Protocol

The endorsement of Google’s open standard comes as companies globally accelerate the integration of AI agents and e-commerce.

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Retailing

Foreign, Hong Kong retailers shut mainland China stores amid fierce competition

High-profile store closures included those of Lane Crawford, Ikea, Triumph, Zara Home and Zara.

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

Nestlé Hong Kong recalls another baby milk formula batch as tests get all clear

Swiss food giant has added a batch of formula with best-before date of June 16, 2027, to its recall list.

Nestlé is embroiled in a global scare over the potential contamination of certain batches of baby milk formula. Photo: Sam Tsang
China’s private sector

China to probe food delivery platforms under anti-monopoly law

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

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China 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.

Hong Kong property

Repeat buyer tucks into another McDonald’s Hong Kong shop for US$15.2 million

Evergreen Capital Partners added the Causeway Bay shop to its portfolio after acquiring two other outlets from the fast-food giant.

McDonald’s offloaded a retail property in excess of 10,000 sq ft in Causeway Bay. Photo: Handout
Artificial intelligence

Dose of uncertainty: experts wary of AI health tech gadgets at CES trade show

Technology and health experts question the accuracy of these products and warn of data privacy issues.

People try out the Bodyfriend 733 Healthcare Robot at the CES trade show in Las Vegas on January 6, 2026. Photo: AP
US-China trade war

BYD’s win, Tesla’s defeat, Ford’s pivot: the widening gap in US-China EV markets

From wavering policy to cost gaps, analysts say decades of state backing have given China a decisive edge over US rivals.

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Retailing

Furniture retailer Ikea to close 7 stores in China amid property market slump

The firm plans to open more than 10 small-format outlets in key cities over a two-year period.

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Hong Kong healthcare and hospitals

Hong Kong pharmacies pull Nestle baby milk formula amid recall over toxin risk

Membership of a WhatsApp concern group set up by a few mothers balloons to more than 800 people within hours.

Only certain batches of infant formula are affected by Nestle’s recall. Photo: Sam Tsang
China economy

Opinion | Innovation and exports will winnow China’s car industry in 2026

Exports will be key to profitability and chips will be the new battleground but consolidation is likely to be confined to the battery sector.

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Electric & new energy vehicles

Tesla’s China sales hit record as EV buyers race to beat tax increase

US carmaker’s share of world’s biggest EV market declines to slightly more then 4 per cent amid stern challenge from local rivals.

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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Illustration: Craig Stephens
Electric & new energy vehicles

Weak year-end sales cloud China’s EV outlook, keeping price-war fears alive

A weaker-than-expected year-end rush and falling deliveries at major brands are stoking fears of another price war.

BYD electric cars await shipment to Brazil at Taicang Port in Suzhou in China’s eastern Jiangsu province. Photo: AFP
China consumption

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.

War and conflict

Outside In | 2025 was the year of denial. What now?

Despite the threat of wars, tariffs, climate change and AI, normality has persisted. But it can only be a matter of time before such contradictions explode.

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Hong Kong

Chinese and Asian suppliers in limbo over fashion chain Claire’s bankruptcy

Suppliers across Asia pursue legal action, but debt recovery prospects remain uncertain.

Claire’s is a mall staple known for trendy jewellery and ear piercings. Photo: Getty Images
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.

More Chinese travellers are pivoting from mass-market sightseeing to bespoke adventures, fuelling a surge in demand for pet-friendly itineraries and winter excursions. Photo: Getty Images
China’s private sector

Small restaurants in China starve as consumers suppress spending appetite

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

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China property

China housing market gets VAT relief on resales but demand outlook stays subdued

Policy lowering VAT to 3 per cent reduces seller costs but demand recovery is key to stabilising the housing sector, property agents say.

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