Hong Kong: To reduce public recurrent costs by 7 % from now until 2027/28 in order to contain a growing deficit, it plans to use large AI to combat the effects of global economic uncertainty, geopolitical tensions, and a poor housing market. In announcing the economic capital’s annual budget, theContinue Reading
BEIJING: President Xi Jinping held a rare meeting on Monday ( Feb 17 ) with some of the biggest names in China’s technology sector, such as Alibaba founder Jack Ma, urging them to” show their talent” and be confident in the power of China’s model and market. The expertly stagedContinue Reading
The South Korean government’s data protection authority announced on Monday ( Feb 17 ) that new downloads of the Chinese artificial intelligence app DeepSeek had been suspended in the nation after DeepSeek acknowledged failing to take into account some of the organization’s guidelines for protecting personal data. According to aContinue Reading
OpenAI, the creator of ChatGPT, and Kakao, South Korea’s market leader, announced on Tuesday ( Feb.4 ) that they intend to form a strategic partnership to create AI products for the Korean market. Kakao added that it will use OpenAI systems in all of its products. Sam Altman, the CEOContinue Reading
Urban Revivo plans to expand in the US this season, and tariffs pose a big issue for some retailers who instantly ship finished goods from China more than sourcing locally.
Fashion-related items may become “most affected” by a possible 60 per share price increase from the US, according to a statement from Boston Consulting Group (BCG) in January, with progressive costs anticipated to increase to US$ 16 billion by 2033.
The three groups, according to the team, would need to withstand additional US$ 99 billion in additional tariffs in addition to customer electronics and electrical machinery.
Although Taiwanese businesses have experience managing US tax costs, levies of this size will have a significant impact on business activities, according to Aparna Bharadwaj, managing director and companion at BCG.
She added that a potential reduction of up to 14 percent points in a company’s profitability on income before taxes, loss, and amortization could make them more likely to pass those costs on to customers.
Urban Revivo intends to accomplish that.
” Our setting is more’ mass-market’ at house, but in the future, I’m thinking if the taxes were to increase]in America], we could only increase prices”, founder Li told the Post. ” Other brands would do the same”.
It’s a big question whether the business can increase its revenues without hurting its sales.
Urban Revivo plans to open its first US store in New York this year, and the most immediate challenge for the company is whether it can make a name for itself in this competitive market, head-to-head with well-known giants like Zara,  , H&, M , and Ralph Lauren.
” The majority of Chinese retailers that have set foot in the US are targeting the East and West Coasts, where there are large Chinese communities”, said Bain’s Yang. So, I would say we’re not yet there if you asked me whether any brands had truly won over the hearts of European and American consumers in large numbers.
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.