Pictures of 25-year-olds driving a new Porsche or wearing the most expensive couture watches were the norm on China's social media platforms for a long time. Showing off what you have and who you are was considered part of the Chinese dream. Consumption in China offered many opportunities to celebrate one's own individuality, but that is now coming to an abrupt end.
By Ning Wang
Billionaire Wang Jianling wanted to compete with Hollywood and promised to build the most technically advanced and largest film studios in the world. Qingdao was to become the Chinese Cannes. Not much came of it. Nevertheless, many believed in him.
By
For years, China's music streaming market was notorious for its pirated content. After the government banned unlicensed products, China has become the second-largest streaming market after the USA. Beijing's competition regulators have meanwhile put a stop to Tencent's monopoly. Now, the effects of this regulation are beginning to manifest.
By Frank Sieren