1. China’s factories accelerate robotics push as workforce shrinks. China deployed nearly as many robots as the world last year to preserve its manufacturing dominance as its working-age population declines. (The Wall Street Journal)
2. Frugal is the new cool for young Chinese as the economy falters. This new frugality is amplified by social media influencers touting low-cost lifestyles and sharing money-saving tips. (Reuters)
3. Starbucks China is upbeat about growth prospects. The company plans to double local revenue while adding 50% more stores over the next three years. (Shine)
4. Shanghai is now China’s semiconductor highland. The city now accounts for one quarter of the country’s semiconductor value output and 40% of the country’s chip talent. (MSN)
5. Chinese users flock to decentralised microblogging social media platform, Mastodon, to avoid censors. Mastodon has seen the number of Chinese users surge by about 50,000 this year amid harsher social media policies in China. (South China Morning Post)
6. China markets fall despite economic data beating expectations. The offshore Chinese yuan weakened past 7 against the dollar. (CNBC)
7. China is the biggest contributor to global growth. China’s contribution to global economic growth averaged over 30% from 2013 to 2021, making it the biggest contributor. (China Daily)
8. China reaffirms the goals of carbon peak, neutrality. Coal’s share of primary energy consumption fell from 68.5% to 56.5% last year, while non-fossil energy rose 6.9% to 16.6%. (Global Times)
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