Domestic consumption

Li fired back against netizens, stating: “Sometimes you should reflect on yourself to find out why your salary hasn’t gone up after years of work. Have you been working hard enough?” (Internet)

How China's 'lipstick king' lost 63,000 livestream followers overnight

A livestreamer’s comments over the cost of an eyebrow pencil recently brewed a public opinion storm in China. While the incident may be stirred by the livestreamer’s insensitive comments, it speaks to the public’s deeper discontent with the grim economic outlook and employment prospects. Lianhe Zaobao correspondent Chen Jing tells us more.
A teacher hands a graduation certificate to a student at the end of a study tour in the UK last summer. (Photo provided by interviewee)

Big Read: Rich Chinese kids going on overseas study tours could worsen China's socioeconomic divide

In the first summer vacation since Covid-19 lockdowns were lifted in China, study tour operators are back in full force throughout the country. Interestingly, two extremes have emerged in terms of spending on such tours depending on region and family income. Against a backdrop of uneven economic development and unequal distribution of educational resources across China, will this polarisation aggravate its social stratification problem?
Cosplayers walk on a shopping street, in Shanghai, China, 31 July 2023. (Aly Song/Reuters)

Big Read: Young women are the driving force in China's consumer market

With the rise of e-commerce, traditional department stores are having a hard time attracting customers, especially following three years of the pandemic. While some stores have managed to re-style themselves to tap into the younger generation, others have struggled to move past the fashion of 20 or 30 years ago and are closing their doors as a result.
Hong Kongers in Shenzhen are generally seen in groups, wearing sneakers and carry backpacks. (Photo: Daryl Lim)

Shenzhen has become a shopping paradise for Hong Kongers

Hong Kongers have recently found a nearby spending destination in mainland China: Shenzhen. Since the summer vacation, a steady wave of tourists from Hong Kong has crossed the border to visit the various shopping spots in the mainland Chinese city. Lianhe Zaobao journalist Daryl Lim shares his findings from interviews in Shenzhen.
People walk in a shopping district in Beijing, China, 14 July 2023. (Thomas Peter/Reuters)

China needs a new model of economic development to revive the economy

Over the past four decades, China’s economic growth has been mainly driven externally by exports and internally by investments. But China can no longer count on exports to drive economic growth. Thus, the country is seeking to boost domestic demand. Academic Gu Qingyang shares that China needs a multi-prong approach, which would require a significant transformation of the economy.
People cross a street on the Bund in the Huangpu district in Shanghai, China, on 15 June 2023. (Hector Retamal/AFP)

China’s economy lacks foundation for expanding consumption

Chinese academic Han Heyuan notes that following the pandemic, disposable income in China is not at a level that allows for more domestic consumer spending, leading to economic growth being hampered. Also, the Chinese mentality is one of saving rather than spending, which makes it more of a challenge to encourage domestic demand.
People walk on a street as they shield themselves from the sun, amid a heatwave alert in Shanghai, China, 11 July 2023. (Aly Song/Reuters)

Low consumer confidence will dampen China's push to boost consumption

The Chinese government is pulling out all the stops to boost domestic consumption, including a list of 20 measures from the National Development and Reform Commission. However, given that these measures do not include direct funding policies, how effective will they be in getting people to spend?
Attendees at the ChinaJoy Expo in Shanghai, China, on 30 July 2023. (Qilai Shen/Bloomberg)

China’s first half GDP growth: Has the economy bottomed out?

While the latest economic data from China show encouraging GDP growth, taken in context, many provinces are actually seeing slower growth as compared with the first quarter of this year. Lianhe Zaobao journalist Li Kang examines the figures and speaks to economists to find out more.
People attend a job fair in a mall in Beijing, China, on 30 June 2023. (Thomas Peter/Reuters)

Stemming population decline in Chinese first-tier cities

​Population figures are going down in China's major cities, not only in Beijing and Shanghai, but also in Shenzhen and Guangzhou. This trend is not only due to higher costs of living, but deeper concerns that prevent economies from finding a certain equilibrium after headwinds. Economist Li Jingkui explains.