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China’s private sector

China’s private sector
The latest news, analysis and opinion on China’s private sector. In-depth analysis, industry insights and expert opinion.
A pure gold decorative fan ornament at the Jewellery & Gem World Hong Kong fair at Hong Kong Convention and Exhibition Centre on Wednesday. Photo: Kit Lai
World Gold Council

As China’s consumption of gold jewellery slumps 34%, sellers pivot abroad: WGC

Domestic gold jewellers are seeking to leverage advanced crafting techniques as market sees turbulence, says World Gold Council executive.

Mainland China

Top French Design Award given to €20 uniform design for China’s delivery drivers

China’s crackdowns

China cracks down on big firms delaying payments to cash-strapped SMEs

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Banking & finance

Open Questions | Veteran investor Fang Fenglei on why China’s ‘investibility’ remains a certainty

Influential financier who helped found CICC says arguments against China investment ‘do not hold water’.

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Illustration: Brian Wang
China consumption

End of the supermarket? Why China’s shoppers flock to small ‘community stores’

Young Chinese favour local grocery stores offering low prices and fast delivery, with some saying they haven’t been to a supermarket in years.

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Consumers

Trust tested: Sam’s Club shoppers uneasy as Hong Kong veggie tag dropped

Change sparks concern among consumers, with the Hong Kong label having long served as a selling point for high quality.

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Biomedicine: Industry Trends

China needs monkeys: lab animal shortage could hinder biotech growth

As fundraising and out-licensing deals in China grow, so does demand for monkeys and other primates for testing.

The expansion of China’s biotechnology industry is driving up demand for primates. Photo: Shutterstock
Pop Mart

Labubu meets LVMH: Pop Mart to open its first European flagship store in Paris

With Pop Mart’s overseas revenue share slipping in 2026, the firm remains focused on boosting international retail presence.

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Artificial intelligence

Chinese shoppers can now buy AI subscriptions from DeepSeek and Z.ai on Tmall

By packaging tokens and coding plans like everyday retail goods, AI labs are opening a new front in their push for sustainable revenue.

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China economy

In Focus | Heirs aberrant: what happens when China’s family firms have no successors?

About 85 per cent of the private sector is family-run, and family matters may become an economic issue as children decline to inherit operations.

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Illustration: Lau Ka-kuen
Mainland China

China bans private tutoring. So why are cram schools still bleeding parents dry?

Five years ago, China imposed a sweeping ban on for-profit academic tutoring. But the sector has quietly made a comeback amid intense parental demand.

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Students attend class at a school in eastern China’s Zhejiang province. Photo: Xinhua
Artificial intelligence

From ‘slop’ to prime time: how AI dramas are shaking up China’s TV industry

Fully AI-generated, 30-episode Journey to the West series debuts, as shifting production economics transform the industry.

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SpaceX

Can China catch SpaceX? New commercial reusable rocket takes to the skies

The orbital mission marks a key milestone for Beijing’s commercial launch sector.

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Mainland China

China’s commercial space sector expands global footprint with Thailand deal

GalaxySpace describes mission as first turnkey satellite export to a Southeast Asian customer by a Chinese commercial space company.

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A Long March-6C carrier rocket carrying seven satellites blasts off from the Taiyuan Satellite Launch Centre in Shanxi province on Tuesday. Photo: Xinhua
China's economic recovery

China’s steel sector must avoid US rust belt’s fate: party journal

Trade barriers, oversupply and falling export prices are squeezing steel producers as the Qiushi Journal warns against letting the industry contract.

A worker polishes a steel bicycle rim at a factory manufacturing sports equipment in Hangzhou, Zhejiang province. Photo: Reuters
China consumption

As bubble tea craze cools in China, can full equity buyouts revive growth?

Bain Capital’s acquisition of Gong Cha may signal a shift in bubble tea investment strategy, as sector slows after years of rapid expansion.

Medicine

Overseas licensing has helped fuel China’s biotech profits. Will it last?

Out-licensing deals have overtaken IPOs as the primary lifeline for cash-starved Chinese drug makers, analysts say.

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China education

Oxford blues: Chinese executives log complaints over training programmes

Participants say they spent a lot of time queuing for library cards, and a visit to Germany turned into a bus tour circling factory grounds.

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Historic buildings at the University of Oxford. Photo: Shutterstock
Space

China clears Geely for landmark satellite test to spur commercial space drive

Geespace secures a two-year satellite IoT trial from MIIT, the first approval for a private Chinese firm.

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China economy

Opinion | As China shows, liberal capitalism is not the only path

China has disproved one of the post-Cold War era’s most confident assumptions: that the Western model is the only route to modernity.

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Alibaba

Alibaba’s AI cloud growth surge drives earnings despite soaring tech spending

Tech giant posts fastest growth in cloud and AI revenue in 22 quarters, says huge AI computing investments will pay off within three years.

The Alibaba booth at the World Artificial Intelligence Conference in Shanghai on July 26, 2025. Photo: Reuters
China stock market

China’s state funds exit Kweichow Moutai as 25-year profit growth comes to end

Central Huijin Investment and China Securities Finance are not among Kweichow Moutai’s top 10 shareholders as of second quarter.

People visit the Kweichow Moutai booth at the China International Consumer Products Expo in Haikou, capital of south China’s Hainan province. Photo: Xinhua
Business of climate change

South China tech hub’s wet summer puts damper on small business profits

Shenzhen’s wettest July in more than three decades saw foot traffic plummet and also caused severe disruption to airline schedules.

Biomedicine: Companies

China’s drug firms set to compete on the world stage, analysts say

Amid systemic efficiency and a wave of innovation, the country’s biotech sector is expanding at a pace that has caught the market off guard.

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Biomedicine: Industry Trends

Global pharma giants turn to Chinese biotech to tap innovation, valuation growth

The foreign investments can help Chinese companies grow and compete on the global stage, according to Citic Securities.

Test tubes are arranged in front of an AstraZeneca logo in this illustration picture taken May 21, 2021. Photo: Reuters
Biomedicine: Companies

Sugar for the pill: US$8b fund boosts Hong Kong’s biotech hub ambitions

Hong Kong Investment Corporation is stepping up its efforts to position itself amid Beijing’s challenge to US pharmaceutical dominance.

Clara Chan Ka-chai, CEO of Hong Kong Investment Corporation (HKIC) Photo: Enoch Yiu
China stock market

Global AI trade revival brightens outlook for Chinese tech stocks

Improved corporate earnings and a broader global tech rebound are helping stocks bounce back from a record monthly decline.

Banking & finance

China’s foreign reserves hold steady as external earnings stay in private hands

Hong Kong absorbed nearly two-thirds of mainland China’s portfolio outflows last year and now holds about half of the total external stock, IIF says.

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