Why China’s Idol Economy is at its Turning Point

idol economy in China

The year 2021 has been the turning point for China’s idol economy. After several years of booming growth, it fell into decline from July 2021 onwards. The “Operation Qinglang” (清朗运动, the operation to cleanse the entertainment industry) launched by the Cyberspace Administration of China in August dealt a huge blow to the idol economy. With […]

8 steps for foreign brands to leverage Chinese trade fairs and exhibitions

Chinese trade fairs and expositions

Chinese trade fairs and exhibitions are the most valuable link for foreign brands to expand their network. Many foreign brands in China must rely on local forces to be successful, cooperating with Chinese companies. On the other hands, Chinese trade fairs and exhibitions are an excellent opportunity for domestic companies to “benchmark” with the world’s first-class […]

China’s ‘Common Prosperity’ initiative and its potential economic impacts explained

China’s Common Prosperity’

In early 2021, Chinese President Xi Jinping made a speech emphasizing the importance of ‘Common Prosperity’, setting this concept as a tone in policy making for the next few years. As a policy-guided and increasingly modernized country, China’s ‘Common Prosperity’ campaign gathers momentum and impacts all aspects of society almost instantly. What’s China’s ‘Common Prosperity’ […]

Cultural Opinion Leaders (COLs): The future of China’s KOL economy

COLs

As Li Jiaqi and Viya win the titles “king” and “queen” of this year’s Singles’ Day and fashion brands keep on collaborating with the same handful of Key Opinion Leaders (KOLs), China’s KOL economy is in flux. Gen-Z consumers looking for more authentic and deeper tastemakers are the main driver of change. KOLs’ standardized format […]

Checking the health of online clothing rental services in China

online clothing rental services in China

According to a report jointly released by Bain & Co. and the TMall Luxury Division, mainland China accounted for 20% of the world’s luxury industry last year and it is going to become the largest luxury market by 2025. Unlike the in the past, nowadays Chinese consumers’ reluctance to purchase pre-owned luxury clothing is gradually […]

Everything you need to know about crowdfunding in China

crowdfunding in China

Crowdfunding in China started to develop relatively late compared to the global market: the market size peaked in 2016 with 48,467 successful campaigns in that year. Chinese crowdfunding models include investment-based, non-investment based and integrated crowdfunding. The investment-based crowdfunding model includes equity-based and property-based crowdfunding. Non-investment-based crowdfunding model includes reward-based and donation-based crowdfunding. How crowdfunding […]

Financial influencers in China: targeting Gen Z with stocks and digital currency advice

Financial influencers in China

During the pandemic, millions of future financial analysts have been fully immersed in the world of investment. Recently a new generation of investors has been emerging on social media. The proliferation of commission-free online trading has sparked a demand for inexpensive financial advice that can be obtained from the most easily accessible place, namely the […]

China’s education crackdown: Disrupting the private tutoring sector

China’s education crackdown

In mid 2021, the central government’s decision to suspend for-profit tutoring came as a shock to many. Besides provoking fundamental changes in the lives of children and parents, the ban of off-campus education services has destabilized many companies throughout China. Consequently, both families and the country’s education industry need to re-orientate after China’s education crackdown. […]