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Shenzhen offers mooncakes with diverse flavors, attractive prices to consumers

China

China

China

Shenzhen offers mooncakes with diverse flavors, attractive prices to consumers

2024-08-22 05:38 Last Updated At:07:17

⁠⁠⁠⁠⁠⁠⁠As the traditional Chinese Mid-Autumn Festival draws near, supermarkets in Shenzhen, south China's Guangdong Province, have begun selling mooncakes with both traditional and innovative flavors at attractive prices, drawing a growing number of local consumers as well as those from Hong Kong and Macao.

A chain supermarket in Futian District of Shenzhen has seen a significant number of consumers from Hong Kong, with many of them planning to buy mooncake gift boxes before the festival.

"I bought four mooncakes and took them home yesterday, finding them quite delicious. So, I returned today to buy a gift box and look for different styles. Additionally, I think mooncakes in Shenzhen are a bit cheaper, and it's quicker to send them to my family on the mainland," said a consumer from Hong Kong.

"The proportion of mooncake consumers from Hong Kong or other consumer groups is relatively significant, reaching around 50 to 60 percent at weekends," said Cao Hai, the supermarket manager.

Cao reported a rising trend of consumers from Hong Kong and Macao traveling north to buy mooncake gift boxes in Shenzhen. Even on workdays, the supermarket delivers dozens of mooncake gift boxes daily, a situation uncommon in previous years.

Moreover, the bulk mooncakes that were available on shelves as early as July have been selling well.

"I'm trying out new flavors -- one with pepper and salt, and another with barbecue pork. Currently, I prefer buying bulk ones to taste different flavors. As the festival approaches, I'll opt for gift boxes to give as gifts," said a local consumer.

In comparison to gift-boxed mooncakes, loose-packed mooncakes present a broader range of flavors. At another supermarket's mooncake stall, alongside traditional Cantonese mooncakes filled with sweet lotus seed paste and five nuts, consumers can find innovative options such as black truffle and beef, as well as tangerine peel and red bean fillings.

"During our peak hours each day, we typically sell around 40 to 50 boxes of mooncakes. Overall, this year's market shows a slight upward trend, including at offline terminals. Many consumers still prefer to visit a store and look around. Therefore, our current stock levels are slightly higher this year compared to last year," said Wang Weimin, person in charge of the supermarket.

With the implementation of new regulations on mooncakes this year, mooncake fillings are banned against containing ingredients such as shark fin, sourced from endangered wildlife, and must avoid using precious and rare ingredients like bird's nests. Mooncakes priced above 500 yuan (around 70.08 U.S. dollars) are also largely exiting the market.

Currently, mooncake gift boxes in major supermarkets and stores are priced mainly between 150 yuan (around 21.03 U.S. dollars) and 350 yuan (around 49.06 U.S. dollars).

The Mid-Autumn Festival is a significant traditional Chinese festival celebrated on the night when the moon reaches its fullest and brightest on the 15th day of the eighth month on the Chinese lunar calendar.

The festival will fall on September 17 this year.

Shenzhen offers mooncakes with diverse flavors, attractive prices to consumers

Shenzhen offers mooncakes with diverse flavors, attractive prices to consumers

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China's capital market sees increasing mergers, acquisitions

2024-09-12 18:00 Last Updated At:18:37

China's capital market has reported surging mergers and acquisitions deals driven by policy initiatives designed to energize the sector, according to the China Securities Regulatory Commission (CSRC).

The country's securities regulator said on Wednesday that companies listed on China's A-share market have disclosed 46 major asset restructuring projects since May 2024, with seven equity restructuring cases submitted for CSRC registration.

CSRC officials said that market-oriented reforms in mergers and acquisitions and financial restructuring have shown positive results, with notable mergers and acquisitions cases constantly emerging and companies boasting core technologies taking a center stage.

"Companies are continuously advancing mergers and acquisitions by circling around people's livelihood, national strategies, and emerging industries. Mergers help them achieve advantage complementarity, enhance overall competitiveness, and facilitate resource integration, ultimately boosting business profitability," said Chen Li, chief economist at Chuancai Securities.

Asset restructuring refers to significant changes in a listed company's assets through purchases, sales and other transactions. In April this year, the State Council released its third guideline document on the capital market in two decades, outlining efforts to build a "secure, regulated, transparent, open, dynamic and resilient capital market". Since the introduction of the guideline, the CSRC has rolled out multiple measures to invigorate the mergers and acquisitions market and create favorable policy environment for restructuring.

"[These measures include] supporting companies listed on the STAR market in conducting mergers and acquisitions activity within their industrial chains to enhance industry collaboration and optimize resource allocation, and establishing efficient financing and mergers and acquisitions channels for companies that develop core technologies in key fields. These will help sci-tech companies acquire critical technologies, expand business layout, and accelerate sci-tech innovation and industrial upgrading," Chen said.

By the end of August, the CSRC had registered 663 quarterly or half-yearly profit distribution reports from listed companies, with a total value of 533.7 billion yuan (about 75 billion U.S. dollars), up 157.1 percent year on year. Of these, 248 companies are expected to pay interim dividends of over 100 million yuan (more than 14 million U.S. dollars) to shareholders.

China's capital market sees increasing mergers, acquisitions

China's capital market sees increasing mergers, acquisitions

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