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China's plan for a new type of urbanization will generate higher consumer demand from a larger section of residents. As the focus of consumption upgrade shifts to lower-tier cities and towns, the room for growth will hopefully increase for a greater number of cost-effective domestic brands, Cheng said in a research note on Nov 20.

China's second-biggest e-commerce player JD.com Inc has joined forces with Baidu, China's leading internet search provider, to offer customers a more tailored e-commerce experience.

China's pet insurance market has a bright future amid growing rates of pet ownership across the country.

Chinese President Xi Jinping pledged in late September that China aims to have peak carbon dioxide emissions before 2030 and netzero emissions by 2060. In October, Japan and the ROK also officially announced their carbon neutrality goals with a deadline of 2050.

Chinese New Year becoming mainstream holiday in US