In our previous article, we highlighted key signals indicating that the destructive, heavy-subsidy food delivery wars among China’s internet platforms were finally drawing to a close (see Is the Delivery War Drawing to an End?). However, as
Dear Baiguan Pro readers,Each month, we pair macro data and BigOne Lab’s proprietary indices with a structured, directional read on where Chinese assets stand and what we’re doing about it.If you haven’t upgraded yet, we’re offering a free
On April 1, we officially launched Baiguan Pro, our professional-tier subscription designed for investors seeking deeper, more specific coverage of Chinese equities. Baiguan Pro delivers the Baiguan team’s monthly outlook on overall Chinese
Beijing’s regulatory decision against online brokers last week, which we just wrote a note about, once again put the policy risk of investing in China in sharp focus. On days like this, we think this is the perfect time to share with you a
On Friday, May 22, Chinese regulatory authorities launched a sweeping crackdown on illegal cross-border securities trading, targeting major online brokerages Futu Holdings, Tiger Brokers, and Longbridge Securities. The China Securities Regu
This is a guest piece from a friend of the channel, Mr. YAO Yu, founder and CEO of RatingDog, one of China’s very few independent credit rating agencies that only serve the buy side, and a company I deeply admire. RatingDog also sponsors th
A Note From BaiguanOn April 1, we officially launched Baiguan Pro, our professional-tier subscription designed for investors seeking deeper, more specific coverage of Chinese equities. Baiguan Pro delivers the Baiguan team’s monthly outlook
Several years ago, I wrote that the search interest in China’s intangible cultural heritage (非物质文化遗产, or 非遗) was already booming. You could see it everywhere: consumer brands slapping “heritage craftsmanship” or “legacy of intangible cultur
When everyone is talking about DeepSeek and Chinese models catch-up, who’s actually building the GPU warehouses?Every AI boom needs infrastructure. In the US, that conversation centers on hyperscalers racing to build data centers. In China,
Our job postings data across major online recruitment platforms in China shows a quiet but structural shift that nobody is talking about.Five years ago, mid-sized companies (100–999 employees) contributed a significant portion of the jobs.
”Lying flat”, or Tang Ping, is a concept that started to become popular around 2021 in China. At its simplest, Tang Ping means doing the bare minimum to get by. It is a rejection of the traditional Chinese rat-race culture. Instead of worki
This piece is the deep-dive follow-through on one of our Q2 themes: shareholder return and dividends in China, which we flagged in our first Pro issue.Why investing for income is a good strategy nowA decade ago, this would have been a very
Last week, the Baiguan team successfully concluded our second-ever China Tour, focusing on the AI and robotics ecosystem in Shanghai. 19 investors, family offices, and entrepreneurs from the US, Germany, South Korea, Malaysia, and Australia
Dear Baiguan Pro readers,Last month, we launched Baiguan Pro—our monthly view on Chinese assets, themes, and sectors we are closely following, as well as insights from our own data at BigOne Lab.Each month, we pair macro data and BigOne Lab
A Note From BaiguanOn April 1, we officially launched Baiguan Pro, our professional-tier subscription designed for investors seeking deeper, more specific coverage of Chinese equities. Baiguan Pro delivers the Baiguan team’s monthly outlook
“Charts of the Week” is Baiguan’s series that features key data points to help you quickly grasp the general state of affairs in China in just a few minutes. We handpick the highlights of the data charts from a variety of sources, analyzing
In China, 鸡娃 (jī wá) — colloquially, ‘pumping your kid up’ — is shorthand for an obsessive middle-class parenting culture where every weekend activity must serve an educational purpose. Parents compete not just over tutoring programs and pi
This is an article for Baiguan Pro subscribersSome of the best investment opportunities of the last several decades came from identifying big paradigm shifts.The rise of the internet fundamentally changed how people find information (Google
I must apologize for the slightly clickbaity subtitle.Many Chinese netizens do jokingly refer to this company as ‘Pop Mart for middle-aged men’ due to its focus on figurines and collectibles, but its business model couldn’t be more differen
Seasoned Baiguan subscribers will remember that we have been covering the story of POP MART from the very early on.As early as August 2024, right before POP MART’s shares really took off, we first commented on its stellar growth based on ou