China Weekly News

1. Second-hand luxury goods’ price in China falls. More than a dozen popular brands of luxury watches and bags have lost between 20% and 50% of their value on the secondary market. (Financial Times) 2. China's retail sales rose 2.7% YoY in July. The country's retail sales of consumer goods tota...

1.China's consumer spending sees sharp rebounding. Retail sales are expected to grow 3.6% in H2 in the country. (Global Times) 2. Chinese companies on the Fortune Global 500 list have contributed more revenue than US companies for the first time. The listed Chinese companies span a diverse set of...

1.More easing of restrictions in Big Tech? China has pledged to green light more technology deals. (South China Morning Post) 2. More transparency on Chinese social media. Several major Chinese social media platforms, such as Weibo and Douyin, began to test displaying the names of MCNs responsibl...

1. No NFTs for Tencent? Tencent is reportedly planning to close its NFT platform Huanhe a year after launching. (Technode) 2. Weibo and Douyin will require influencers to disclose agency names on profile pages. Under the new measure, MCNs are required to provide the two platforms with updated inf...

1. Dior under fire in China again? This time for their "hallmark" skirt that resembles attire from the Ming and Qing dynasties. (Global Times) 2. China has been attempting to control the country's online credit and consumer loan sector in recent years. However, among the younger generation, the p...

1. Shanghai is ramping up support for metaverse development — aiming to foster 10 leading companies and 100 SMEs, which could launch 100 new metaverse products and services by 2025. (South China Morning Post) 2. Recent weeks have seen the rise of an unexpected fad dubbed ‘civil servant chic�...

1. China's digital economy was worth over 45 trillion yuan ($6.72 trillion) in 2021. Accounting for 39.8% of GDP, China's digital economy has grown rapidly and ranked second in the world for several years. (CGTN) 2. China’s tech stocks the most attractive in the world? The long slump is reversi...

1. More regulations for live stream hosts? Streamers must now uphold good political values and social values, create and promote more “positive” stories and maintain a “wholesome” taste. (Technode) 2. China’s cross-border e-commerce industry has enjoyed rapid growth, expanding 10-fold i...

1. Online shopping bolstering recovery? JD said its transaction volume for 618 stood at 379.3 billion yuan ($56.5 billion) as of last week, an increase of 10.3% YoY from 343.8 billion yuan in 2021. (China Daily) 2. Shanghai ranked second in spending power among all 31 Chinese provinces, municipal...

1. The Chinese economy did not fare well in the second quarter. But May saw an economic rebound, which is likely to strengthen in the third quarter. (China Daily) 2. Alibaba’s cloud services unit jumps on the NFT bandwagon amid a global market downturn for these digital assets. (South China Mor...

1. China’s biggest tech companies have reported their weakest quarterly earnings in more than a decade. Most major Chinese internet companies reported their quarterly results over the last few weeks. (Bloomberg) 2. Hangzhou is providing a special fund of 5 billion yuan (US$750 million) for the...

1. A growing number of Chinese tech start-ups are willing to list shares publicly in China at valuations lower than during private funding rounds. (Reuters) 2. Guangdong to be China’s data hub? China’s first conference supporting its new mega data project kicked off over the weekend in Shaogu...