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One for the future

Vanke defies the gloom with property management IPO in Hong Kong
Sep 30, 2022 (WiC 602)

As the world’s most expensive property market, Hong Kong is poorly nourished soil for start-ups. But ironically enough, when the government made a play of seeding a new tech sector in the city in the late 1990s, it was the territory’s leading ...

Battering their way ahead

EV sales double in August on last year as local brands take charge
Sep 30, 2022 (WiC 602)

August was another seismic month for retail sales of electric vehicles (EVs) in China, which jumped to 529,446 cars, up 112% year-on-year, as reported in the latest edition of HSBC’s China EV Tracker. The large majority of sales were of ...

The briefer, the better

Short video reaches saturation point in China, but profits can go higher
Sep 30, 2022 (WiC 602)

Getting (and keeping) attention on Chinese social media is becoming more of a challenge. ‘Short video’ giants like Douyin and Kuaishou should get some of the blame for the splintering of concentration spans around the country. But they are ...

Back in business

Li Jiaqi, the Lipstick King, makes livestreaming comeback
Sep 30, 2022 (WiC 602)

After disappearing abruptly from public view in June, China’s biggest e-commerce livestreamer is back. Li Jiaqi’s return was as unexpected as his exit. But on September 20, he resurfaced on Taobao Live, generating so much buzz that he became ...

Flight cancellation

Surprise as the ‘Chinese Top Gun’ fails to take off during peak movie period
Sep 30, 2022 (WiC 602)

Top Gun: Maverick, by far the biggest of this year’s blockbuster movies, brought a triumphant reprise for Tom Cruise as Pete Mitchell, nicknamed Maverick, more than 35 years after his debut in the 1986 original. But Maverick mark ...

Guo fights back

Fosun’s founder angered by claims about his firm’s financial health
Sep 23, 2022 (WiC 601)

The Chinese have a range of sayings to warn against the dangers of rumour mongering. “Zhen Shen commits murder” (曾参杀人) references a story in which a trusting mother comes to believe that her son, a virtuous statesman, has murdered ...

Streaming for the exit

Tencent Music opts for secondary listing in Hong Kong
Sep 23, 2022 (WiC 601)

News of a deal last month in which American auditors will be visiting Hong Kong to review the books of Chinese firms listed in the US seemed to signal the clouds are lifting over a row that has dragged on for years. But has the breakthrough come ...

Credit where it’s due

China agrees debt restructurings, although critics say more are needed
Sep 23, 2022 (WiC 601)

“Simply untenable” was the rebuttal from China’s foreign ministry last month to the latest round of warnings about Beijing’s ‘debt trap diplomacy’ from US Secretary of State Antony Blinken. Allegations like these infuriate the ...

Pinduoduo apes SheIn with cross-border push
Sep 23, 2022 (WiC 601)

Chinese ultra-fast fashion clothing brand SheIn sold $16 billion worth of goods in the first half of the year, up more than half year-on-year. The privately-held company – which has struck a chord with Gen-Z consumers around the world with its ...

Family fortunes

How the scions of some of Fujian’s richest families are marrying
Sep 23, 2022 (WiC 601)

The doorways of traditional courtyard houses in Beijing are typically adorned with a pair of stone bearings (mendang), as well as wooden pins (hudui) for hanging lanterns. These fixtures were designed to reflect the ...

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