As the Chinese New Year approaches, many Hong Kongers have the tradition of travelling to Shenzhen to enjoy reunion dinners at lower cost with better service compared with back home. Lianhe Zaobao journalist Daryl Lim speaks with diners and restaurant managers to find out more about this trend during the festive season.
Domestic consumption
Society
Warehouse stores were the preferred shopping format for Chinese consumers during the pandemic due to the vast space ideal for social distancing and the low cost for bulk items needed to reduce the number of trips outside. However, even with the end of the pandemic, this consumer trend remains. Lianhe Zaobao journalist Daryl Lim looks into the matter.
Economy
Although the Chinese economy showed some signs of recovery in 2023, prices have not improved in tandem, with key economic indicators signalling a persistent decline. This has served to deepen fears of deflation and sparked calls for more supportive policy measures.
Society
As the popular TV series Blossoms Shanghai shows the thriving Shanghai of the 1990s, the Shanghai of today is a far cry from the TV series. How can Shanghai find its rhythm again?
Economy
In part two of his article taking stock of the Chinese economy and assessing bright spots and challenges in 2024, Chinese economist Yao Yang focuses on the key factors of increasing investment without distinguishing between foreign and domestic capital, and the inability of the US to limit China’s technological development.
Economy
While the latest economic results for China seem promising, one underlying factor could suggest otherwise — the lack of confidence in the authorities’ approach in stimulating the economy. How can China boost investor confidence and improve the economic climate?
Economy
Popular Chinese online shopping app Pinduoduo has done well in terms of profits, outdoing competitors such as Alibaba and JD.com. While a major factor is due to revenue from Pinduoduo's multinational e-commerce platform Temu, it may also be a sign that consumers in China are changing their spending habits and going for cost-effectiveness and value for money.
Economy
This week, Chinese President Xi Jinping’s visit to Shanghai, China’s largest financial centre, has sent strong signals of the leadership’s emphasis on the country’s economic development. And it is clear from the itinerary the importance the higher-ups are placing on the three areas of finance, technology and livelihood. Nonetheless, Lianhe Zaobao associate editor Han Yong Hong notes more research needs to be done before the introduction of more powerful policies that can turn the tide of the sluggish economy.
Economy
Singles’ Day is known as the sales day of the year, but this year the buzz seems to have gone out of it, as people are choosing not to spend as much as before. As the event marks its 15th year, the general vibe is no longer excitement, but fatigue. Lianhe Zaobao correspondent Chen Jing tells us more.