The South Korean central bank announced on Monday ( Jan 20 ) that its 2025 growth forecast had been slashed as a result of the political crisis brought on by President Yoon Suk Yeol’s declaration of martial law last month. On December 3, Yoon recently suspended civilian rule, sending soldiersContinue Reading
Trust “CRISIS” Spectators were attentively watching Friday’s information release for any indications that those steps succeeded in reviving activity. They will also involve readings covering the last quarter of last year. ” With a deal of progressive policies being fast rolled away, social confidence was efficiently bolstered and the marketContinue Reading
As the US tech giant struggles to compete with rising domestic rivals like Huawei, Apple is offering rare discounts of up to 500 yuan ( US$ 68.50 ) on its most recent iPhone models in China. The four-day advertising, running from Jan 4 to 7, applies to many phone versionsContinue Reading
BEIJING:  , President Xi Jinping said China will put in place “more proactive” macroeconomic policies next year, state media reported, as he addressed a top political advisory body on Tuesday ( Dec 31 ). This year, the nation has struggled to recover from a fall brought on by a propertyContinue Reading
What toys was the craziest in Asia this time? For some, the answer is a colorful, rubber-coated comfortable character with pointy ears, wicked eyes, sharp teeth and a playful grin.
Labubu, designed by Hong Kong-born Kasing Lung and made by Pop Mart, China’s leading store of modern games, has captured the hearts of enthusiasts across the globe with its strange and eye-catching style.
In the past year, Pop Mart has experienced double-digit sales development in China and triple-digit development in foreign markets, according to a statement from Guosen Securities. It is the “largest and fastest-growing business in the modern toy industry.”
Labubu and another secret collectables, usually kept in closed package known as blind boxes, are helping to restructure the global understanding of “made in China” products. Instead of being seen as low, mass-produced things, the products are gaining global recognition for their unique designs, company energy, and their ability to tap into emerging customer trends.
At a Pop Mart shop in Shanghai’s Xuhui region, one user said she had suddenly managed to buy a Labubu cast after months of waiting.
Because so many people rushed to buy at once, she said,” I could never get one when the stock was replenished online.” ” Today, I ultimately got one at an established business, and I’m so happy”!
When asked why she loved the toys, the young woman said:” I love the style, I feel content when looking at it”.
While demand for Labubu, the premier toys in Pop Mart’s series, has outstripped supply in China, it has also become a pain in various parts of Asia as well.
In April,  , Lisa, a Thai member of the popular K-pop group Blackpink, posted a photo of herself online cuddling a Labubu doll that also showcased a Labubu keychain on her bag. That caused a rise in the toy’s popularity in Thailand, which quickly grew to Vietnam, Singapore, and beyond.
Pop Mart’s third-quarter business update showed that the company’s overall revenue grew by between 120 and 125 per cent year on year. Revenue in mainland China increased by between 55 and 60 per cent, while revenue from Hong Kong, Macau, Taiwan and international markets grew by between 440 and 445 per cent.
China will follow through with an “appropriately loose” monetary policy next year as part of efforts to promote economic growth, according to state media on Monday ( Dec 9 ) citing a Politburo meeting. This is the first time it has changed its mind since 2010. China may adopt aContinue Reading
If the leader hadn’t aborted his plan, Matthews claimed the position could have been “much worse.” ” Buyers today’ only’ have to worry about a period of significant social uncertainty”, he said. The central bank and the North Korean finance government sought to reassure markets and offer balance. The BankContinue Reading
Exchange-traded funds linked to South Korean stocks fell after President Yoon Suk Yeol declared martial law in an unannounced late-night address live on YTN television, causing the South Korean won to drop to a more than two-year low against the US dollar on Tuesday ( Dec 3 ) and exchange-tradedContinue Reading
SHANGHAI: China’s consumer inflation rate slowed in October, official data showed Saturday ( Nov 9 ), in a sign that demand remains sluggish in the world’s number two economy. Regulators have been attempting to boost domestic exercise as a home problems strains confidence. The consumer price index ( CPI), aContinue Reading
Premier Li Qiang, the leader of China, praised recent stimulus measures and said there was still room for improvement on Tuesday ( Nov 5 ), saying he was “fully confident” the nation would achieve its economic goals this year. Beijing has set a growth target of around 5 % for 2024, butContinue Reading