HKUST Li & Fung Supply Chain Institute

By 2030, service consumption in Mainland China is expected to exceed 50% of spending, contributing at least 2 percentage points to economic growth and supporting high-quality development. The flourishing service sector presents huge growth opportunities for commercial enterprises. Digital technology will continue to drive growth within the service consumption sector. What are some future growth areas within China’s service sector that businesses should take note of? Find out more on our latest report Ten Highlights of China’s Commercial Sector 2025: https://lnkd.in/geX9bSuu #China #Consumption #Economy #Commerce #DigitalTechnology #ServiceSector

China #Retail & #Ecommerce Weekly Update (7 – 13 February 2025) · Kuaishou Local Life: Chinese New Year Group Buying Festival’s GMV up by 117% yoy as ‘new-tier’ cities show strong growth · JD 7Fresh’s CNY orders increase by nearly 100% yoy · Alibaba’s 1688 makes all AI products free for merchants  · Baidu Youxuan Chinese New Year Goods Festival: Active merchants increase by 75% yoy · Costco Nanjing upgrades intra-city delivery service · L’Oréal sales in Chinese market experience first negative growth in five years · First IKEA store in Chinese mainland will be closed for renovations until April  · Armani opens first restaurant in China · Yum China’s core operating profit in 4Q24 increases by 35% year-on-year · McDonald’s to open 1,000 new restaurants in China this year · CCFA: More than 70% of shopping malls see annual sales growth in 2024 · Average daily online retail sales during the Online Chinese New Year Shopping Festival increase by 6.2% yoy  · Shenzhen implements new tax refund policy for e-commerce exporters https://lnkd.in/g5aUQvJJ

【5 key trends to watch in China’s consumer market in 2025】 In the first three quarters of 2024, the Chinese economy grew by 4.8% yoy. During this period, final consumption expenditure accounted 49.9% of this growth, making it the biggest driver of China’s economic growth. With ongoing policies to boost consumption, China’s consumer market will continue to forge ahead. How will China’s consumption trends evolve in 2025 and the coming years? 👇 Find out more on our latest report Ten Highlights of China’s Commercial Sector 2025: https://lnkd.in/geX9bSuu #China #Consumer #Consumption #Economy #Market

𝗙𝘂𝘁𝘂𝗿𝗲 𝘁𝗿𝗲𝗻𝗱𝘀 𝗼𝗳 𝗴𝗹𝗼𝗯𝗮𝗹 𝘀𝘂𝗽𝗽𝗹𝘆 𝗰𝗵𝗮𝗶𝗻𝘀 - 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀 𝗳𝗿𝗼𝗺 𝗘𝗩, 𝘀𝗼𝗹𝗮𝗿 𝗣𝗩, 𝗮𝗽𝗽𝗮𝗿𝗲𝗹 𝗮𝗻𝗱 𝗺𝗲𝗱𝗶𝗰𝗮𝗹 𝗱𝗲𝘃𝗶𝗰𝗲 𝗶𝗻𝗱𝘂𝘀𝘁𝗿𝗶𝗲𝘀 The HKUST Li & Fung Supply Chain Institute is excited to announce the release of the Global Supply Chain Report. The global supply chains are undergoing significant transformations driven by a myriad of political, economic, social, environmental, and technological forces. These changes are not only impacting how businesses operate but also influencing the strategic decisions they make to stay competitive and resilient. The Global Supply Chain Report examines the supply chain landscape across four sectors: electric vehicle, solar PV, apparel and medical device. The aim is to identify the future trends in global supply chain landscape, especially the shifts in global sourcing locations. For in-depth analysis about the supply chain developments of the EV, solar panel, apparel and medical device industries, click here: https://lnkd.in/gESVrhZ2

𝗜𝗺𝗽𝗹𝗶𝗰𝗮𝘁𝗶𝗼𝗻𝘀 𝗳𝗼𝗿 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀𝗲𝘀 𝗮𝗻𝗱 𝗧𝗶𝗽𝘀 𝗳𝗼𝗿 𝗘𝗻𝘁𝗲𝗿𝗽𝗿𝗶𝘀𝗲𝘀 In 2024, China's commercial sector demonstrated remarkable resilience and adaptability, driven by a combination of supportive government policies and evolving consumer behaviours. Looking ahead to 2025, China's commercial sector is poised for continued growth. Businesses should intensify their efforts in areas like online-offline integration and cross-border e-commerce to capitalize on the evolving economic and trade landscape, ensuring a vibrant and competitive market in the year ahead. Here are some implications and tips to help enterprises expand their businesses in China in 2025: Find out more on our report: https://lnkd.in/geX9bSuu #commercial #customer #China #ecommerce #tips

According to the annual Ten Highlights of China’s Commercial Sector 2025, released by HKUST Li & Fung Supply Chain Institute in January 2025, China's commercial sector saw a gradual recovery in 2024, despite being hindered by low consumer confidence amid economic and employment uncertainties. However, in 2025, the sector is projected to gain momentum, bolstered by supportive government policies and an increase in disposable income. As a result, China's GDP is estimated to grow by 4.5% in 2025, with retail sales expected to rise by 5%. Find out more on our report: https://lnkd.in/geX9bSuu #China #Commerce #Economy #Employment #GDP

China #Retail & #Ecommerce Weekly Update (10 – 16 January 2025) · Tmall aims to partner with 500 new brands in 2025 to boost growth · New merchants on Xiaohongshu increase by 8.1x in 2024 · JD.com and Mr Doodle launch limited edition co-branded products for the Chinese New Year · Tmall: 270 new products exceed 100 million yuan in sales in 2024 · Kuaishou Chinese New Year Festival: Number of livestreaming studios with a GMV exceeding 10 million yuan up by 53% yoy · Meituan launches meal delivery service ‘Huanxiong Shitang’ which allows users to order from multiple merchants at the same time · Vipshop’s Chinese New Year shopping festival peaks at 8PM on 16 Jan · Yonghui Superstores debuts self-adjusted ‘Pangdonglai-inspired’ national flagship store   · 24 foreign beauty brands exit the Chinese market in 2024 · 378 new shopping centres to open in 2025  · 2025 National Online New Year Shopping Festival adopts ‘3+N’ format for the first time · SAMR to crack down on false advertising in livestream e-commerce https://lnkd.in/dVWwdixt

Happy Lunar New Year! 🎉✨Wishing you a year filled with health and happiness!

China’s manufacturing PMI falls to 49.1 in January, indicating a contraction in the manufacturing sector amid seasonal factors https://lnkd.in/g3k_Rwhi

PMI points to a recovery in the manufacturing sector in 4Q24. We project a steady growth in #manufacturing production. https://lnkd.in/gSvKuhsV