Consumer spending down under economic pressure – Ashley Dudarenok

 

Ashley Dudarenok

China’s consumers spend less on luxury products, especially foreign brands, says marketing expert Ashley Dudarenok at the state-owned China Daily. Only domestic luxury brands are partly escaping that downward trend, she says.

China Daily:

Western luxury brands are particularly affected by these shifts. A recent survey of 2,000 Chinese consumers by Investment firm TD Cowen found that only 17% plan to increase their luxury spending, while 64% plan to spend more on travel. Many consumers are gravitating toward domestic brands or opting for more sustainable, personalized, and culturally relevant products.

“Chinese consumers are buying fewer luxury goods as economic challenges take a toll on spending,” Ashley Dudarenok, founder of the China digital marketing agency Alarice, tells Jing Daily. “There’s also been a noticeable shift in mindset, where flaunting luxury brands is now seen as shallow and disconnected from reality.”

Instead of focusing on brand logos, consumers are increasingly valuing outstanding product quality and unique style.

“While some ultra-high-end brands still benefit from their heritage and cultural significance, the overall trend is moving away from overt displays of brand loyalty,” Dudarenok says….

Rising youth unemployment and low consumer confidence are shaping the luxury market. Youth unemployment reached 18.8% in August and the Consumer Confidence Index dropped to 86 in July.

“As consumers grow more cautious about spending due to uncertainty around job security and income, luxury brands may struggle to maintain previous growth levels. Fewer first-time luxury buyers are entering the market, posing a long-term challenge to the sector’s growth prospects,” Dudarenok says.

While foreign brands face challenges in the market, Chinese luxury brands are gaining momentum.

“Domestic brands like Duanmu and Shang Xia are gaining traction by leveraging their understanding of Chinese culture and consumer preferences,” Dudarenok says. “Unlike foreign brands that often dominate the market, these local brands focus on products deeply rooted in Chinese traditions, such as those incorporating Traditional Chinese Medicine in cosmetics. This cultural alignment resonates with consumers, particularly as national pride grows among Chinese shoppers.”

More at the China Daily.

Ashley Dudarenok is a speaker at the China Speakers Bureau. Would you like her to be at your meeting or conference? Contact us or fill out our speakers’ request form.

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No structural reform expected for China – Arthur Kroeber

 

Arthur Kroeber

Despite the hope of the international financial community, China is not heading for structural reforms, says leading economist Arthur Kroeber, author of  China’s Economy: What Everyone Needs to Know®, to CNBC. Pushing up demand is not high on the agenda for China’s leadership, he says, and they do not want to push up debts levels to new heights.

Arthur Kroeber is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers’ request form.

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New energy industry: key for urban development – Rupert Hoogewerf

 

Rupert Hoogewerf

China’s new energy industry is key in creating wealth, says Rupert Hoogewerf at the Hurun website, reporting on the Global Unicorn Index 2024. “In the latest Hurun China Top 500, new energy has risen to fifth place, with 36 companies making the cut.  This was significantly up on just five years ago, when there were a mere 14 new energy companies, making the industry not even a Top 10,” says Rupert Hoogewerf.

 

Rupert Hoogewerf:

“The new energy industry is a strong driving force for urban development, which is not only a catalyst for economic transformation and sustainable development, but also an important indicator to measure the city’s innovation, talent and industrial attractiveness. China’s major cities are exploring their own new energy-related value, which is critical to the overall development of China’s new energy industry chain. We created this list to recognize cities that have made significant achievements in the field of new energy, while encouraging more cities to play a part in building a sustainable green future.”

“In the latest Hurun Global 500, Tesla led a group of only five new energy companies that made the list. 3 were from China, CATL, BYD and Li Auto, whilst two were froim the US, led by Tesla and Florida-based Nextera Energy.

“In the latest Hurun China Top 500, new energy has risen to fifth place, with 36 companies making the cut.  This was significantly up on just five years ago, when there were a mere 14 new energy companies, making the industry not even a Top 10.”

“In the Global Unicorn Index 2024, there were 58 new energy-related companies, of which 41 were in China and in the latest edition of the Hurun Future Unicorns (including Hurun Global Gazelle Index and Hurun Global Cheetah Index), there were 23 new energy-related companies.”

“China’s new energy story can also be inspired by the stories of entrepreneurs on our Hurun China Rich List. The first wave of new energy entrepreneurs was represented by Shi Zhengrong of Wuxi Suntech in 2006, the second wave was Li Hejun of Hanergy in 2014, and the third wave was Robin Zeng Yuqun of CATL in 2021. All of them made the Top 5 of the Hurun China Rich List. This is now the fourth wave, and while none of them have made it into the Top 5, there are far more of them than before.”

“China’s energy transition investment was significant last year, reaching US$676bn. By comparison, the total energy transition investments of the EU, US and UK combined came to US$718bn. China topped the world in many segments of new energy, and it is interesting that these advantages are scattered across many cities in China, with different cities exploring their own advantages. Some areas have geographical advantages, such as high altitude and thin air in the Northwest, which has a small weakening effect on solar radiation, while the Northwest has little rainfall and rich light resources, which is suitable for the development of photovoltaic industry. Some regions have advantages in natural resources, such as Jiangxi, which has rich lithium reserves. Some cities have industrial base advantages, for example, in the 1960s, Sichuan began to study polysilicon. Some cities, such as Shanghai and Shenzhen, have a complete technology ecosystem that is more conducive to the development of system-level products.”

“Going global has become a very important trend for China’s new energy industry. Many of China’s leading new energy companies now have almost half of their sales from overseas markets, mainly Europe, the Middle East and Southeast Asia.”

“Many new energy vehicles and photovoltaic companies in China are now in the forefront of the world. Competition between cities and companies is likely to cause companies to lose money in the short to medium term, with the share prices of many leading companies down by up to 80% from their peak in 2021.”

“Eastern China has a prominent advantage in the field of new energy, and 25 cities on the list are from Eastern China, accounting for half of the cities from our list. Jiangsu has been the province with the highest concentration of new energy for three consecutive years, with a total of 10 cities on the list, one province accounting for one-fifth of the entire list, and with the cities of Changzhou and Suzhou both making the Hurun New Energy Top 5.”

More at the Hurun website.

Rupert Hoogewerf is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Get in touch or fill out our speakers request form.

Are you looking for more strategy experts at the China Speakers Bureau? Do check out this list.

China’s financial measures focus on stability, not on pushing consumption- Arthur Kroeber

 

Arthur Kroeber

Leading economist Arthur Kroeber, author of China’s Economy: What Everyone Needs to Know®, says most economists are wrong in suggesting China wants to push consumer demand. Fixing stability is key, he says according to MSN.

MSN:

One expert suggested that investors are misunderstanding China’s intent in providing the stimulus boosts. According to Arthur Kroeber, founding partner of Gavekal Dragonomics, Beijing’s intent isn’t to accelerate the economy by enabling consumers, but simply to stabilize it.

“The economic aims are to stabilize growth and prevent deflation from tightening its grip,” he wrote in the Financial Times. “The market goal is to restore enough confidence so that equity prices post steady, moderate rises. This will reopen the window for new listings and enable the stock market to resume its assigned role of financing China’s industrial policy ambitions.”

More at MSN.

Arthur Kroeber is an expert on China’s economy. Would you like him to speak at your meeting or conference? Contact us or fill out our speakers’ request form.

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Why the mini-bazooka is not enough to restore confidence in China’s economy – Shaun Rein

  

Shaun Rein

Business analyst Shaun Rein, author of The Split: Finding the Opportunities in China’s Economy in the New World Order, explains why China’s mini-bazooka will not help its economy in the long run. People need a serious fiscal stimulus, so they are confident about the economy again, he argues in a talk with David Lin. “People have to feel safe again before they are going to spend the money they made again,” he adds.

Shaun Rein is a speaker at the China Speakers Bureau. Would you like him at your meeting or conference? Contact us or fill out our speakers’ request form.

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How AI helps e-commerce in transforming challenges into opportunities – Sharon Gai

 

Sharon Gai

E-commerce expert Sharon Gai explains how AI is helping her industry transform challenges into opportunities, speaking at Mike Allton’s podcast on strategic marketing with AI. Gai has extensive experience in China and uses her insights to help e-commerce stay competitive in a fast-changing industry.

Sharon Gai is a speaker at the China Speakers Bureau. Do you need her at your meeting or conference? Do get in touch or fill in our speakers’ request form.

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Stock market rally might continue for next 2, 3 weeks – Shaun Rein

 

Shaun Rein

Financial analyst Shaun Rein expects the stock markets to rally for another two to three weeks, as Chinese investors return from their holidays and try to gain on the A-shares bump, he tells CNBC. The economy is still a mess, and export is having some problems, but in the short term stock markets will do fine, he says.

Shaun Rein is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speaker’s request form.

Are you looking for more financial experts at the China Speakers Bureau? Do check out this list.

Black dog, review – Zhang Lijia

 

Zhang Lijia

Journalist Zhang Lijia, author of “Socialism Is Great!”: A Worker’s Memoir of the New China,  is thoroughly impressed by the movie Black Dog, which won an award at Cannes. In her review, she writes, “This Cannes Un Certain Regard winner stands as a richly deserved accolade—a poignant narrative beautifully told. ”

Zhang Lijia:

“Black Dog”– A Canine-Themed, Cannes-Winning Chinese Film

What a film! The synopsis might not grab you at first glance, but “Black Dog”, a western-meets-noir, exceeded my expectations. Starring Eddie Peng as Lang, an ex-convict, the story follows his return to his semi-deserted hometown on the outskirts of the Gobi Desert after serving time for a local man’s death. As Lang navigates a barren landscape haunted by packs of stray dogs, he joins a dog-hunting team and encounters a scrappy black stray. The bond they form transforms Lang’s life. Like the dog, Lang is an outsider, and their connection reflects his own struggle for redemption.

This Cannes Un Certain Regard winner stands as a richly deserved accolade—a poignant narrative beautifully told. The film’s themes of friendship, redemption, and the profound relationship between humans and animals thread seamlessly through the story, touching on the universal human experience of seeking belonging in an indifferent world.

Watching “Black Dog” felt like a breath of fresh air—original and enigmatic. From the first frame, I was drawn into Lang’s world, captivated by the tension of what might come next.

The cinematography is stunning. The Gobi landscape feels vast and unforgiving, providing a fitting backdrop for Lang’s quiet internal journey. Both leads, the black dog and the brooding and handsome 帅哥 Lang, captivate in their own way. Even the film’s deadpan humor cuts through the solemnity, adding layers of charm.

The film is undeniably Chinese, rooted in the gritty realism of its setting: dilapidated residential buildings, the character “拆” (demolish) on crumbling walls, a grandmother sitting stoically as life passes by. Yet its story transcends borders—at its heart is a tale of a lonely man and a stray dog, something people from anywhere in the world can relate to.

One minor complain is that there are too many accidents – buses and motorbikes crash too many times – that it feels a bit contrived there. Overall, however, “Black Dog” is a triumph of subtle storytelling, its landscape and characters lingering long after the credits roll.

Zhang Lijia is a speaker at the China Speakers Bureau. Do you need her at your meeting or conference? Do get in touch or fill in our speakers’ request form.

Are you looking for more experts on cultural change at the China Speakers Bureau? Do check out this list.

 

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Stimulus has no effect on economy until key problems are tackled – Shaun Rein

 

Shaun Rein

Some e-commerce firms in China have profited from a rally of their stocks, triggered off by a major financial stimulus, but that might not help the economy to really improve, says financial analyst Shaun Rein at CNBC. It’s a rally of exuberance, he adds, and might only triple down into the economy in six to nine months. The real problem is for example companies cannot fire their staff very easily, and make their lives hard, hoping they will leave by themselves, he says.

Shaun Rein is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Get in touch or fill out our speakers’ request form.

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Why I wrote this book on AI Powered Metaverse – Alvin Wang Graylin

 

Alvin Wang Graylin

AI expert Alvin Wang Graylin, working at HTC, explains why he co-authored his recent book on the AI Powered Metaverse Our Next Reality: Preparing for the AI-powered Metaverse, in a discussion in the AI Shift Podcast.

Takeaways

• Alvin Wang-Graylin is a pioneer in XR technology.
• The metaverse is a 3D version of the internet.
• AI and XR technologies will enhance each other.
• Job displacement is a significant concern with AI advancements.
• Regulation is crucial to ensure technology is used ethically.
• Humanoid robots will become integrated into daily life.
• AI may develop a form of consciousness over time.
• Education will evolve to be more individualized and multimodal.
• The future of governance may involve AI leadership.
• As technology advances, we must focus on ethical considerations

Alvin Wang Graylin is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers’ request form.

Are you looking for more innovation experts at the China Speakers Bureau? Do check out this list. 

China’s stimulus: good only for the short run – Shaun Rein

 

Shaun Rein

China’s massive financial stimulus is good for the short term, but the economy needs more structural change, away from real estate, says Shanghai-based business analyst Shaun Rein to CNBC. While it is good Xi Jinping moves away from politics and ideology and turns to the economy, more is needed to restore long-term confidence in the economy by the consumers, he adds.

Shaun Rein is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Get in touch or fill out our speakers’ request form.

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2024-09-27

Why do I invest in China – Jim Rogers

 

Jim Rogers

Superinvestor Jim Rogers explains why he keeps on investing in China, although the stock markets in China are doing so badly, compared to the global markets, he tells at the World Knowledge Forum.

Jim Rogers is a speaker at the China Speakers Bureau. Do you need him as a speaker at your meeting or conference? Do get in touch or fill in our speakers’ request form,

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