Medical tourism, the act of seeking medical treatment abroad for better value or superior quality compared to what is available domestically, has experienced notable growth in recent times, particularly in the Asia-Pacific region. Medical tourism in South Korea has surged alongside the popularity of K-beauty and the Hallyu wave. It has emerged as one of the most sought-after destinations for medical tourism globally, offering excellent treatment alongside outstanding hospitality and cultural immersion. With cutting-edge technology, friendly staff, and modern facilities, it has become the prefe ..read more

Within the electric two-wheeler market in China, NIU has recently embarked as a new disruptive competitor. The company has been able to swiftly expand its product line amidst an unprecedented increase in demand for efficient urban transportation solutions. It was also driven up by rising concerns about air quality and increased traffic congestion. In this promising landscape for market expansion, NIU was established in 2014 by former Baidu chief technology officer, Li Yinan. His vision is to revolutionize urban mobility with smart and environmentally friendly solutions. Just a year later, in 2 ..read more

Over the decades following the opening of the first KFC in Beijing’s Tiananmen Square in 1987, Western fast food was typically perceived as higher-end or even luxurious. This was attributed to its pricing and China’s economic conditions at that time. However, there has been a notable shift in the general perception of both Western and Chinese fast food in recent years. This transformation is primarily because of the emergence of numerous Chinese fast-food restaurant chains. This is in contrast to the widespread presence of Western fast food. Additionally, the rapid improvement in living standa ..read more

In recent years, Chinese consumers have become increasingly inclined to save money and follow trends like consumption downgrade due to the economic slowdown after a prolonged pandemic. On Xiaohongshu, many netizens shared their experience purchasing “poor people combo meals,” among which fast food restaurants and coffee chains such as McDonald’s, KFC, Burger King, and Luckin Coffee were the most talked about. Although #shopping at Sam’s Club has become a label for the middle-class # (逛山姆成为中产标签) in China, the membership-based warehouse club recently went viral on Chinese social media ..read more

The global art market is a multi-billion-dollar industry, playing a significant role in cultural exchange and economic development. While its artistic roots stretch back centuries, China’s art market has boomed in recent decades, becoming a major player on the global art scene. In recent years, the Chinese art market has witnessed a meteoric rise, solidifying its position as the second-largest globally in 2023, following the United States. Source: Statista, designed by Daxue Consulting, Countries with the highest fine art and NFT sales revenues in 2023 From dynasties to recent decades: A jour ..read more

The indie sector has swiftly emerged as a significant player in the beauty industry, boasting global sales worth USD 30.5 billion. This trend is evident in China, especially among young consumers in China. Brands including Fan Beauty and Rare Beauty have been gaining popularity due to the growing desire for individuality, a sense of belonging, and sophistication. Download now our China luxury market report What it means to be an indie beauty brand Indie beauty brands (独立美妆品牌), short for independent beauty brands, refer to those that operate independently from larger corporations or conglomera ..read more

The indie sector has swiftly emerged as a significant player in the beauty industry, boasting global sales worth USD 30.5 billion. This trend is evident in China, especially among young consumers in China. Brands including Fan Beauty and Rare Beauty have been gaining popularity due to the growing desire for individuality, a sense of belonging, and sophistication. Download now our China luxury market report What it means to be an indie beauty brand Indie beauty brands (独立美妆品牌), short for independent beauty brands, refer to those that operate independently from larger corporations or conglomera ..read more

Forests are vital in maintaining Earth’s health, acting as a key buffer against climate change, a habitat for diverse species, and a source of livelihood for millions of people. However, the alarming decline in global tree cover is a significant concern. Between 2001 and 2023, the world lost an estimated 488 million hectares (Mha) of forest, representing a 12% decrease in tree cover since the start of the millennium. This loss has far-reaching consequences for biodiversity, carbon sequestration, and ecological stability. Even China, which has spearheaded the largest reforestation effort global ..read more

In South Korea, traditional family occasions like Chuseok and Seollal, once reserved for gatherings and gift-giving, are seeing a shift. With improved communication and accessibility, people are attending these gatherings less and opting to send gifts via gift cards instead. This shift has fueled robust growth in the gift card market in South Korea, with a solid Compound Annual Growth Rate (CAGR) of 10.3% from 2018 to 2022. Moreover, gift-giving extends beyond special occasions as building relationships remains a cornerstone of Korean culture. Gift cards are now exchanged not only during celeb ..read more

In the dynamic landscape of global technological innovation, China is a frontrunner in innovation, with strengths in creative goods exports, domestic market scale, and labor productivity growth. Even though the consequences of slow economic recovery, rising interest rates, and geopolitical conflicts are revealed in the 2023 Global Innovation Index (GII) released by the World Intellectual Property Organization (WIPO), China still performs well compared to other countries. China ranks 12th among the 132 economies featured in the GII 2023 and 1st among the 33 upper-middle-income group economies ..read more