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China Business NOW

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全英文带你速览中国经济头条

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全英文带你速览中国经济头条

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Recent Episodes

January 30, 2026

From World’s Factory to Innovation Beacon, Guangdong Goods Win Over the Globe

In the spring of 2026, as the “Guangdong Goods Global Reach” campaign launched in Foshan with a flourish of live-streamed home-appliance promotions, something profound was unfolding. Beyond the flashing screens and surging sales figures lay a quiet revolution: products born in the Pearl River Delta were no longer merely filling shelves—they were reshaping households, imaginations, and economies across the planet. From drones soaring over African savannas to smart air conditioners humming in European living rooms, from lychee-infused ice creams delighting North American taste buds to foldable smartphones defining the future of mobility, “Guangdong-made” has become a global synonym for quality, ingenuity, and emotional resonance.Guangdong's unshakable status as a leader in China's foreign trade is evident in the numbers. In 2025, the province's total import and export volume of goods reached 9.49 trillion yuan, a year-on-year increase of 4.4%, hitting a record high and maintaining its top position nationwide for 40 consecutive years. It contributed 24.1% to China's total foreign trade growth, ranking first in the country, with exports and imports accounting for 22.4% and 18.7% of the national total respectively. As a pilot zone for reform and opening-up, Guangdong has leveraged policies in free trade zones and comprehensive bonded areas to optimize the business environment, with bonded logistics imports and exports reaching 1.93 trillion yuan in 2025, accounting for over 20% of the total foreign trade volume for the first time.The roots of this success stretch back to the dawn of China’s reform and opening-up, while its geographical advantage—backing onto the Nanling Mountains, facing the South China Sea, blessed with deep-water ports and proximity to Hong Kong—offers unmatched logistical grace. The establishment of the Guangdong-Hong Kong-Macao Greater Bay Area further amplified these advantages, weaving together policy innovation, cross-border capital flows, and world-class infrastructure into a single, dynamic ecosystem.Yet geography and policy alone do not explain the leap from low-cost assembler to global technology leader. The true transformation lies in Guangdong’s relentless industrial upgrading. What began as labor-intensive OEM production evolved through absorption, imitation, and finally autonomous innovation.Today, the province accounts for roughly 70 percent of the world’s consumer-grade drones led by DJI, over 40 percent of China’s industrial robots, and a commanding share of smartphones, smart wearables, and new-energy vehicles. BYD’s electric vehicles surged 145 percent in overseas sales in 2025, reaching 1.05 million units and capturing leading positions in multiple markets. Midea and Gree derive more than 40 percent of revenue from abroad; OPPO and vivo each send over 60 percent of their phones overseas; Transsion dominates emerging markets with 90 percent of sales outside China.At CES 2026 in Las Vegas, more than 530 Guangdong exhibitors—outnumbering many entire national delegations—showcased AI glasses, intelligent wearables, and next-generation robotics, proving that the province has moved decisively from “Made in Guangdong” to “Created in Guangdong.”This shift was not painless. It demanded heavy investment in R&D, the nurturing of industrial clusters, and a cultural embrace of continuous iteration. Shenzhen, often called “China’s Silicon Valley,” exemplifies the model: a complete supply chain married to lightning-fast commercialization turns global breakthroughs into market-ready products almost overnight. Meanwhile, traditional manufacturing heartlands such as Foshan’s home appliances, Dongguan’s precision components, and Zhongshan’s lighting have reinvented themselves through intelligent factories, green technologies, and AI-driven optimization. The result is a manufacturing system that delivers not just scale and cost efficiency, but superior quality, sustainability, and intelligence—attributes that increasingly define global competitiveness.What truly sets Guangdong goods apart, however, is their ability to carry cultural warmth across borders. The province has masterfully fused technological prowess with the deep heritage of Lingnan culture. Maoming’s lychees, marketed as the “Fruit of Oriental Love,” travel the world with stories of romance and prosperity. Shunde’s potted vegetables and Chen Cun’s kumquats arrive with cards recounting their auspicious meanings. Poon Yuen’s wife cakes are reformulated for overseas palates yet retain their traditional soul. These products evoke nostalgia for overseas Chinese communities and invite newcomers to share in centuries-old rituals of family and fortune.This cultural bridge is strengthened immeasurably by Guangdong’s unique relationship with the global Chinese emigrants. Millions of overseas Chinese trace their roots to the province; they serve as natural ambassadors, cultural translators, and trusted distributors. From Southeast Asian night markets to North American Chinatowns, Guangdong goods arrive as familiar treasures and extensions of home. The “Global Red Envelope” campaign of 2026 cleverly harnessed this emotional affinity, transforming the traditional “hongbao” into a symbol of Guangdong’s goodwill toward the world: a red packet of prosperity delivered through both products and stories.As Guangdong goods continue their journey outward, they carry more than hardware and software. They bear the imprint of a people who have learned to blend ancient wisdom with cutting-edge ambition, openness with resilience, and profit with purpose. In doing so, they remind the world that true globalization is a shared pursuit of better lives instead of a zero-sum game of extraction.

January 20, 2026

In 2026 “Love Yourself First” Is Taking Priority in China’s Gen Z Consumption

Five years ago, being cool was perhaps spending half of one’s monthly paycheck on a designer handbag just to “fit in,” while today,  “showing off” a highly sought-after concert ticket is more likely to get you the most likes on your social media page.As the calendar turned to the year of 2026, the phrase “Love Yourself First” has exploded across China’s social media. From TikTok-style short videos to WeChat Moments, young people are sharing how they’re ditching old spending habits—like chasing luxury logos or hoarding sale items—to prioritize what actually makes them happy.China’s Generation Z is now turning inward, fueling a multibillion-yuan “self-pleasing” consumption boom that’s as much about emotional survival as it is about spending.Far from being a passing trend, this viral slogan signals a profound shift in the consumption philosophy of China’s Gen-Z and young millennials, a group that makes up nearly 400 million people and drives over 11 trillion yuan in annual spending, according to the 7th National Population Census.To understand the hype, forget the misconception that “Love Yourself First” is about selfish overspending. For China’s youth, it’s a rejection of the “show-off consumption” that defined previous decades. Instead, “Love Yourself First” translates to a few key spending shifts.Psychologically, this surge stems from a blend of pragmatism and self-compassion. Amid economic uncertainties and a competitive job market, young people are redefining success as an evolution from the “Lipstick Effect”—once a coping mechanism for economic downturns, now a proactive pursuit of “self-reward.” Liu Haihua, a Peking University researcher attributes this to “self-compassion,” where consumption becomes a tool for immediate happiness rather than deferred gratification. Similarly, the viral phrase “Love Yourself First” notes that 56.3% of young respondents prioritize “happy consumption,” up 16.2% from the previous year, with activities like queuing for Labubu toys or donning Hanfu in historic sites providing emotional outlets and social bonds.Economically, its’s a much-needed injection of vitality into the retail sector. Young consumers are now willing to splurge on experiences that feed their souls, not just their wardrobes. Data from 2024 shows 176 million people attended live performances in China, with Gen-Z making up the majority of the audience—and box office revenue hit 51.8 billion yuan in 2025. And there’s more: Blind boxes and “guzi” merchandise, projected to hit 300 billion yuan by 2029, spawn jobs in design, e-commerce, and cultural tourism. “Guzi economy” (products for anime, games, and movies) surged to 168.9 billion yuan in 2024. Companies like Pop Mart, the maker of viral collectibles such as Labubu and Molly, have seen their stock more than double in 2025, with market caps exceeding HKD257.8 billion as of yesterday.Emotional consumption drives “new supply” that creates “fresh demand,” aligning with China’s policy push for service-sector growth, economists noted.Socially, however, the impacts are more nuanced. On the positive side, this consumption fosters community and self-expression. Wearing Hanfu or collecting anime badges isn’t solitary—it’s a “social currency” that builds tribes of like-minded individuals. It empowers a generation to prioritize mental health, challenging the traditional Chinese ethos of endurance and sacrifice.Yet no trend is perfect. Some young people have fallen into “emotional overspending”—like buying dozens of blind boxes or stretching budgets for concerts. But these cases are the exception, not the rule. For most Gen-Z, “Love Yourself First” is about balance: they’ll haggle over 5 yuan in delivery fees but splurge on a yoga class that improves their mental health; they’ll skip luxury meals but save for a family trip.This balance is what makes the trend so powerful. It’s a rejection of both the excesses of consumerism and the guilt of “not spending enough.” Instead, it’s a quiet revolution: young people are taking back control of their wallets—and their lives.This duality extends to big-ticket items. Data from iiMedia Research underscores the scale: China’s emotional economy hit 2.3 trillion yuan in 2024 and is projected to exceed 4.5 trillion yuan by 2029.As 2026 unfolds, “Love Yourself First” becomes a sign of a more mature, confident generation, and it tells a core message to the world: consumption should serve people, not the other way around. China’s youth no longer need to define themselves through what they buy; instead, they define their purchases through who they are.This shift is good for the economy, too: it’s driving innovation in experiences, sustainability, and “guochao,” creating new growth engines for sectors like culture and tourism. And in a world where consumerism often pressures us to “have more,” choosing to “be more” is a trend worth celebrating.

January 15, 2026

What’s Behind Guangdong’s 10-billion-RMB New Year Tourism Boom

By Stephanie LI丨SFC, 21st Century Business Herald  As the calendar flipped to 2026, Guangdong Province kicked off the year with a resounding “grand opening” in its cultural and tourism sector.Preliminary estimates from the Guangdong Department of Culture and Tourism reveal that during the three-day New Year’s holiday, the province welcomed 17.875 million visitors, marking a 34.8% year-on-year daily average increase. Tourism revenue soared to 9.98 billion yuan, up 39.8% on average per day, while 4A-level and above scenic spots attracted 5.56 million tourists, growing 15.3%.These figures not only paint a picture of bustling crowds and vibrant festivities but also underscore Guangdong’s underlying economic strength and its strategic positioning for the “15th Five-Year Plan” era.This surge in tourism activity is no mere seasonal blip but the reflection of a meticulously orchestrated blend of cultural offerings that cater to diverse tastes. From high-profile art exhibitions to traditional opera performances and international concerts, Guangdong transformed into a cultural powerhouse over the holiday. At the Guangdong Museum of Art, the “So Long, So Rich: Huang Yongyu’s New Works Exhibition” drew throngs of visitors, with interactive sessions allowing audiences to engage creatively with the artist’s whimsical style.The international flair added another layer of allure. Renowned orchestras from Vienna, Italy, and Berlin graced stages in the Greater Bay Area, infusing global melodies with local elements like “Butterfly Lovers.” Choral groups innovated by reinterpreting pop hits with interactive twists, appealing to younger demographics. Venues like the Guangzhou Opera House and Xinghai Concert Hall reported sold-out shows, with the latter’s “Masters Gathering” series featuring cross-border collaborations that attracted nearly 4,000 attendees, reinforcing the Bay Area’s status as a magnet for high-end cultural experiences.Digitally, Guangdong embraced innovation to extend its reach. The Guangdong Provincial Museum hosted online salons delving into ancient texts, while the Guangdong Cultural Center launched an AI-enhanced short video contest under the “Cultural Promotion Officer” initiative. These “cloud-based” activities, part of the broader “Guangdong New Year: Create the Future” digital campaign, engaged over 23,000 visitors in interactive experiences like VR tours and non-heritage workshops. Beyond the festivities, this New Year’s momentum signals deeper economic implications. Guangdong’s tourism triumph—nearly 10 billion yuan in just three days—mirrors its robust fundamentals.In 2025, the province’s industrial value added grew 3.2% in the first 11 months, with high-tech sectors like drones and robots surging. Guangdong boasts nine trillion-yuan industry clusters, leading nationally in AI, digital economy, and new energy vehicles. Its innovation prowess is evident in the “Shenzhen-Hong Kong-Guangzhou” cluster ranking first globally in innovation indices.Transportation metrics further affirm this vitality: airports handled over 180 million passengers in 2025, and Guangzhou’s metro set a national daily ridership record at 14 million. Emerging projects, like the world’s first self-navigating aquaculture platform “Bay Area Lingding” and a robot climbing challenge at Guangzhou Tower, showcase AI integration in real-world applications, aligning with the “15th Five-Year Plan’s” emphasis on high-quality development and technological self-reliance.Yet, challenges persist. Global uncertainties and the transition from old to new growth drivers demand vigilance. Guangdong must continue upgrading traditional industries, nurturing emerging ones, and enhancing sci-tech innovation through the Greater Bay Area’s centers.In essence, Guangdong’s New Year “heatwave” of cultural consumption is more than a holiday high—it’s a testament to its economic resilience, innovative spirit, and people-centric growth model. As the province charges into the “15th Five-Year Plan,” this early win sets a promising tone, proving that cultural vibrancy can fuel sustainable prosperity. With strategic investments in tourism, tech, and talent, Guangdong is poised to lead China’s high-quality development narrative.

498 total episodes available

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What is China Business NOW?: 全英文带你速览中国经济头条
How often does this podcast release new episodes?: This podcast updates daily.
Where can I listen to this podcast?: This podcast is available on 6 platforms including Apple Podcasts, Spotify, and more. You can also use the RSS feed directly.
Does this podcast accept guests?: Yes, this podcast regularly features guests.

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