The pet economy is thriving in China, driven mostly by the one-child generation who crave an emotional connection and young job seekers taking up “animal communication” gigs during the pandemic. Analysts are optimistic about this sector, where middle class households are more than willing to spend more on the physical and emotional well-being of their furkids. Zaobao correspondent Wong Siew Fong speaks to pet owners and business owners to uncover more about this emerging industry.
Singles' Day
Society
Technology
China will continue to flex its e-commerce muscles in 2021, predicts Associate Professor Chu Junhong from the NUS Business School. Expect a strong dose of cross-border e-commerce, livestreaming e-commerce, and more eye-catching short videos that promise great returns on “retailtainment”.
Society
Zaobao correspondent Yang Danxu observes that this year’s head-spinning Singles’ Day sales deals are a tough nut to crack. It is almost as if the organisers want to prevent rather than promote these discounts. Then again, in Chinese life, everything seems to be just that little bit more difficult, whether it’s making a living, raising a child or even keeping a happy marriage going. What’s the moral of the story? Competition in China breeds the street-smart. But what happens to those who are just a tad slower on the uptake?
Economy
Why relying on domestic consumption to sustain China’s economy is putting one’s eggs all in one (wrong) basket.