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American consumers showed more resilience this year on “Black Friday” than the market expected, resulting in steady growth in overall retail sales. However, behind these eye-catching figures lies weak actual purchasing power growth under high inflation and an increasingly severe economic divide. Although spending overall rose, the consumption behavior of

These days, Didi seems to be demonstrating a classic business story of “cash cow supporting star business”: using the strong cash-generating ability of its domestic business to support high-growth potential overseas businesses (Brazil food delivery) and future technological barriers (Robotaxi). Domestic fundamentals: Saying goodbye to price wars, technology-driven “organic” margin

``` With its left hand, Kuaishou pioneers a multi-billion dollar SaaS market through Kling AI, and with its right hand, uses AI algorithms to dig deeper into the core value of its advertising inventory. While the market is still debating whether large AI models are just “money pits” or “valuation bubbles,

``` If 2024 was a “battle of model parameters,” then by late 2025, China’s AI battlefield will have evolved into a contest of capital efficiency, infrastructure hegemony, and traffic gateways. On November 27, Goldman Sachs released a major research report on the development of China’s internet and artificial intelligence,

Market attention is focused on next Monday's speech by Bank of Japan Governor Kazuo Ueda. According to Chasewind Trading Desk, Nomura Securities’ research team pointed out in their latest weekly report on November 29th that the probability of a Bank of Japan rate hike in December has surged

China’s enterprise AI market is experiencing a structural transformation from “model trials” to “cloud-based deployment,” and Alibaba may become the biggest winner in this shift. On November 27, Morgan Stanley released its latest CIO (Chief Information Officer) survey report for the second half of 2025. Morgan Stanley found that

``` After the turmoil at the beginning of the month, the financial markets staged a "rebound of everything" in the last week of November. This week, as expectations for a Fed rate cut in December intensified, virtually all asset classes—including US stocks, US Treasuries, commodities, and even cryptocurrencies—