13 h. ago 'Bold innovations' in fiscal policy key to unlocking China's consumer power, expert says

'Bold innovations' in fiscal policy key to unlocking China's consumer power, expert says  China Daily

Events

6 d. ago China’s real consumption ‘far from as low as it seems’, think tank argues

China’s actual consumption power may have already surpassed that of Mexico and reached 40 to 50 per cent of the levels seen in developed nations such as Japan and Germany, a Beijing-based think tank contends. That conclusion, put forth by China Finance 40 Forum, which comprises senior Chinese regulators and financial executives, runs contrary to the market consensus that China’s consumption is underdeveloped, while providing a new perspective from which to assess the consumer potential of the...

Events

1 week ago Not just manufacturing: Li Qiang vows China will be major consumption power

Premier Li Qiang has pledged that China will become a “consumption powerhouse” capable of fuelling domestic and global growth, even as he acknowledged the country was grappling with a slump in cross-border investment and persistent trade tensions. Speaking at the World Economic Forum’s annual meeting in Tianjin on Wednesday, Li reiterated Beijing’s commitment to boosting demand in the world’s second-largest economy and defending globalisation. “This will make China a mega-sized consumption...

Politics

1 week ago Li Qiang says China will be consumption power at ‘Summer Davos’: as it happened

This live blog has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. Get faster notifications on the latest updates by downloading our app. Chinese Premier Li Qiang gave the keynote speech at the Annual Meeting of the New Champions, also known as “Summer Davos”, in the northern port city of Tianjin on Wednesday morning. The world’s second-largest economy has largely withstood the tariff war launched by US President Donald...

Politics

3 w. ago Gen Z’s ‘emotional consumption’ fuels surge in consumer stocks like Pop Mart

Stock investors are capitalising on the spending power of China’s Generation Z consumers, who splurge on everything from gold jewellery to low-priced drinks, delivering multifold returns on so-called new consumer stocks. The ascent of Pop Mart International Group, Mixue Group and Laopu Gold is one of the few bright spots in China’s sluggish consumer industry, which has been plagued by a weak jobs market and the deflationary trend. The robust performance has come at the cost of traditional...

Politics

last month Labubu craze sweeps globe, highlights power China, Asia stars have on consumer trends

Asian and Chinese stars are rewriting the fashion industry playbook, turning niche favourites into global must-haves. The Post explores how celebrity choices shape style and consumption while reflecting the values of today’s fans. Lisa Labubu At 28, Lisa of the South Korean girl band Blackpink has more than 100 million social media followers and more than 1.9 billion online streams for her solo debut Lalisa. In April 2024, the Thai star posted photos with a Labubu plush toy and a matching...

Politics

last month Labubu craze sweeps globe, highlights power of China, Asia stars have on consumer trends

Asian and Chinese stars are rewriting the fashion industry playbook, turning niche favourites into global must-haves. The Post explores how celebrity choices shape style and consumption while reflecting the values of today’s fans. Lisa Labubu At 28, Lisa of the South Korean girl group Blackpink has more than 100 million social media followers and over 1.9 billion online streams for her solo debut, Lalisa. In April last year, the Thai star posted photos with a Labubu plush toy and a matching...

Politics