Reporting and analysis on retail, e-commerce, and consumer trends in China, updated continuously by our newsroom.
Beijing has reportedly told the Chinese e-commerce conglomerate Alibaba to divest its assets in the media sector out of concern over the company’s growing public influence. Its founder, Jack Ma, the ebullient and unconventional billionaire who officially…
The internal guidelines come amid increased scrutiny by Chinese regulators of the country’s financial technology sector. In a statement, Ant said it will stop issuing loans to minors on its consumer loan platforms and will prevent small business loans from…
JD.com Inc’s fourth-quarter revenue beat expectations on Thursday as more shoppers flocked to its website on the back of a broader shift to online shopping triggered by the COVID-19 pandemic. While China has largely emerged from coronavirus lockdowns with…
ZTE Corporation, a major international provider of telecommunications, enterprise and consumer technology solutions for the Mobile Internet, in partnership with China Mobile, has upgraded Xinfengming Group’s 5G intelligent manufacturing, following the…
Italian fashion group Prada’s sales and profits rebounded at the end of last year from a first-half slump due to the coronavirus pandemic, boosted by a strong performance in China and elsewhere in Asia, and the positive trend has carried on into 2021. Luxury…
Glenn Martens may still be prepping his debut collection for Diesel, but he’s already leaving his mark on the brand. The Belgian designer, who was tapped as the Italian brand’s creative director last October, has imagined a new store concept for Diesel, an…
Coupang LLC, South Korea’s largest e-commerce company, raised $4.2 billion in the biggest share offering in the United States this year after selling stocks in the IPO above its deal target range, people familiar with the matter said. The initial public…
Italian luxury goods group Salvatore Ferragamo said on Tuesday that China and e-commerce had boosted sales in the year so far after the COVID-19 pandemic pushed the firm to its first full-year operating loss since it listed in Milan 10 years ago. Deputy…
China’s banking and insurance watchdog has made an internal promotion for the appointment of a new vice-chairman. Xiao Yuanqi has been promoted to the new role, according to a Caixin report citing unnamed sources. Xiao was most recently the China Banking and…
Despite the increasing discord between China and the U.S., Switzerland wants to further deepen its cooperation in financial matters with the Far East nation. Swiss Finance Minister Ueli Maurer exchanged views with Chinese Vice Premier Liu He at a virtual…
Alibaba and Ant Group founder Jack Ma has lost the title of China’s richest man, a list published on Tuesday showed, as his peers prospered while his empire was put under heavy scrutiny by Chinese regulators. Ma and his family had held the top spot for…
Miniso has unveiled a new “X strategy” business plan to diversify its business and launch multiple brands this year. The Chinese discount variety store said it will focus on the toy market this year with “Art Toy” as a new strategic product category. The…
ZTE Corporation, a major international provider of telecommunications, enterprise and consumer technology solutions for the Mobile Internet, announced that the Sichuan Branch of China Telecom, ZTE and MediaTek have jointly completed the industry’s first…
With physical gatherings limited, red packet gifting via digital channels on the first two days of the Lunar New Year grew considerably from the year before. Efforts to digitalize the longstanding custom of giving hong bao (red packets) during the Lunar New…
A Chinese-language bookstore from Wuhan opened its first overseas store today in Singapore. The Zall Bookstore, popular in the main city of China’s Hubei province, opened its doors to bookworms at the Wheelock Place mall on Orchard Road. The two-story space…
Access to U.S. audio app Clubhouse was blocked in China on Monday, users and an anti-censorship watchdog said, ending a brief window that allowed thousands of mainland users to join in discussions often censored in China. Launched in early 2020, Clubhouse’s…
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