This category contains 11 posts

China targets foreign firms for charging more than inferior domestic products

China’s top economic planning agency is investigating costs and prices charged by drugmakers, including units of GlaxoSmithKline and Merck, as foreign firms come under pressure from Beijing over possible price-fixing. The move follows a separate probe into instant milk powder, which has already led to price cuts. The National Development and Reform Commission (NDRC) is … Continue reading

China’s 2020 consumer is in a town you’ve never heard of

Wearing a floral brocade cardigan and toting a Huawei smartphone, Guo Qian, 22, gushes over her latest purchases on Taobao, China’s largest e-commerce platform. As an administrative worker, Guo makes only 3,000 yuan a month and spends most of it. Not only does she spend nearly all of her own money, Guo also fritters away … Continue reading

Did China just declare war on Apple?

Chinese state media reported that, from January of last year to the end of last month, more than 20,000 college students in the central city of Wuhan applied for 160 million yuan of “high-interest rate loans” from Home Credit China. Beijing’s saturation coverage mentioned Home Credit China’s unsavory lending practices, but that was not the primary point of … Continue reading

KFC parent Yum’s China earns less due to chicken scandal

KFC parent Yum Brands Inc on Monday warned that it expects 2013 earnings to shrink rather than grow, as it grapples with a food safety scare in China where it makes more than half of its overall revenue. Yum shares fell 6 percent in after-hours trading, as the news was even worse than expected by … Continue reading

China CAN choose freedom: Hong Kong economy is proof

I said it three years ago. New York’s entrepreneurial spirit is in Hong Kong… and lo! The results are starting to show. It’s not being British or American or Spanish or French or Chinese that makes one prosperous—it’s one’s commitment to freedom and justice. But what is freedom and what is justice? Freedom means freedom from central panning… whether it’s … Continue reading

Cambodia for sale on China’s Alibaba.com

From large tracts of rural land to sand from the country’s rivers to human hair, a host of Cambodia’s natural resources are on display in the shop window of China’s largest online trading website. Alibaba.com—which claims more than 80 million users worldwide and is growing in popularity in Cambodia—links up suppliers, who pay fees to … Continue reading

China’s Taobao offers bizarre items for sale

If I were asked the question “what is it that has changed the life of common Chinese the most during the past five years,” my answer would definitely be Taobao.com.  Taobao is an online market place similar to E-bay. Since it was founded in 2003, the number of registered users of Taobao has increased from none … Continue reading

Swatch eyes single or double digit sales growth

Swatch Group, the world’s biggest watchmaker, is expecting high single or double-digit sales growth this year as demand from China and for middle and lower-price products holds up in the face of global economic uncertainty. “We are trying to beat the 8 billion Swiss franc ($8.51 billion) mark this year, which would translate into another … Continue reading

China consumers less willing to spend in first quarter: Nielsen

China‘s consumers are cooling towards discretionary spending, preferring to salt money into savings or education for their children, according to a Nielsen survey of Chinese consumer confidence published on Thursday. Although Nielsen found that Chinese consumer confidence rose in the first three months of 2012 to its highest since 2005, making China the world’s fourth … Continue reading

Lingering customers just one hurdle as Starbucks eyes China growth

Starbucks Corp is on the rise in China with ambitious expansion plans but like any big new emerging market there are teething problems, not least of which is that customers love it so much, they stay for hours and hours and sometimes don’t even buy a drink. Chief Executive Howard Schultz expects mainland China to … Continue reading

Walmart International focusing on own business over deals

Wal-Mart Stores is emphasising improving results in international markets where it already operates, such as China, over entering new markets, its top international executive said on Thursday. “Our focus this year in particular has been on improving returns with our existing businesses,” said Doug McMillon, chief executive officer of Walmart International. The company is working … Continue reading

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