Xiaohongshu, backed by DST & Tencent, is China’s fastest-growing social media platform, now valued at $17B. Popular with young urban women.
BUSINESS
Top American Brands Like McDonalds and Apple Are Losing Ground in China
Major American brands like Apple, Starbucks and McDonald’s are rapidly losing market share in China to new domestic rivals. WSJ’s Jonathan Cheng explores how Chinese brands are squeezing out their U.S …
Chinese social media sensation Xiaohongshu wins major foreign VC backing
Yuri Milner’s DST Global takes stake at $17bn valuation in rare investment from overseas after China’s tech crackdown …
Over $80B deals inked at China trade fair
The 30th China Lanzhou Investment and Trade Fair (CLZITF) concluded on Wednesday in northwest China’s Gansu Province, with deals worth about 604 billion yuan (about 84.7 billion U.S. dollars) inked.
China coal generation share at record low in May as renewables hit highs
Increased renewable generation led carbon dioxide emissions from the power sector, which make up some 40 per cent of China’s overall emissions, to fall by 3.6 per cent in May …
Just 19 of China’s 137 electric vehicle brands to be profitable by decade’s end: Report
A price war that has been running for almost two years has pressured margins at Chinese EV makers. Read more at straitstimes.com.
Will the boom of Chinese EV brands bust by end of decade? Price war a concern
A consultancy firm predicts that the current price war in EV markets has already started putting pressure on profit margins and that not all Chinese electric car brands may be able to bear the …
Bubble Tea Overload: China’s Tea Shops Multiply, But At What Cost?
The thing that comforts young Chinese people suffering from chronic economic difficulties is none other than milk tea, also known as bubble tea. Even the time spent waiting in line can be described as …
26 million tons of clothing end up in China’s landfills each year, propelled by fast fashion
Textile waste is an urgent global problem, with only 12% recycled worldwide, according to fashion sustainability nonprofit Ellen MacArthur Foundation.
Premier faces China’s economic issues square on in meeting as inflation adds to pressures
Premier Li Qiang met business leaders and economists on Tuesday before inflation data pointed to persistent pressures for China’s economy.
Temu, SKIMS, Fashion Nova: Fast fashion brands score zero on human rights and environmental policies
Independent fashion watchdog Remake assessed big clothes companies on their environmental, human rights and equitability practices. View on euronews …
Study: China Outpacing US in AI Use in the Workplace
While China may be beating the US when it comes to using AI, the study shows it’s not as fast to fully implement the tech.
China’s investment banking fees drop 33% as ECM falls to 15-year low
The value of IPOs by Chinese issuers also fell to a decade low. Investment banking fees generated in China dropped 33% to $5.6b in the first six months of 2023, according to data from the…
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