So, what’s up in China? 🇨🇳 Issue 112, covering 10 – 16 January.

1. RED’s launching Laohongshu (老红书, the Old Red Book). Yes, the platfrom will soon serve the silver-haired market, too. (Dao insights)

2. In 2021, the volume of China’s imports and exports reached US$6.05 trillion. (Pandaily)

3. China’s population surpassed 1.41 billion at the end of 2021, according to the National Bureau of Statistics. (China Daily)

4. Dingdong Maicai and Meicai, two online grocery platforms, have reportedly trimmed headcounts due to underwhelming business performance. Could this be a sign of something bigger? (KrAsia)

5. China’s GDP grew 8.1 % in 2021, the largest jump since 2011. In Q4 2021 China’s economy grew 4%. 2022 predictions aren’t that stellar. (CGTN)

6. China Evergrande Group’s main unit Hengda Real Estate Group has reached an agreement with bondholders to delay payments for a 4.5 billion yuan ($707.52 million) onshore bond. (Reuters)

7.Blind boxes economy next. 😬✌️ Shanghai’s market regulator issued a new directive that puts a cap on the price of ‘blind boxes’. The price of a blind box shall not exceed 200 yuan (US$31.46) and that sales to children under 8 years old are now prohibited.(South China Morning Post)

8. KFC is under fire in China for a campaign “promoting food waste”. KFC launched a promotion last week with Pop Mart, a Chinese toy maker known for its mystery boxes, that got some people over-consuming in order to collect the full set of gift toys. (Reuters)


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