State-run broadcaster China Media Group released its picks for the top 10 news stories on relations across the Taiwan Strait in 2024.
The top 10 cross-Taiwan Strait news stories for 2024 are as follows.
1. General Secretary of the Communist Party of China (CPC) Central Committee Xi Jinping met with a Taiwan delegation led by Ma Ying-jeou, former chairman of the Chinese Kuomintang party, in Beijing on April 10. Xi stressed the sense of community and a firm pursuit of the great rejuvenation of the Chinese nation.
2. Chinese President Xi Jinping clarified China's position on the Taiwan question in his meeting with U.S. President Joe Biden in Lima. Xi pointed out the one-China principle and the three Chinese-U.S. Joint Communiques are the political basis for bilateral relations, which must be adhered to. Biden said he would continue to pursue the one-China policy, and would not support Taiwan separatism.
3. President Xi Jinping called for greater steps in exploring a new road of cross-Strait integration and development during his inspection in east China's Fujian Province.
4. The Chinese People's Liberation Army launched two-day Joint Sword-2024-A drills around Taiwan in May. The PLA said it was a stern warning against Taiwan regional leader Lai Ching-te's separatist speech on May 20.
5. The State Council Taiwan Affairs Office commented on the outcomes of Taiwan leadership and legislature elections on January 13, saying they reveal the Democratic Progressive Party cannot represent the mainstream public opinion on the island.
6. The PLA Eastern Theater Command launched Joint Sword-2024-B drills around Taiwan in October to test the joint operations capabilities of the theater command's troops.
7. China issued a set of guidelines on imposing criminal punishments for die-hard Taiwan separatists for conducting or inciting secession.
8. In June, the Chinese mainland ended preferential tariff rates on 134 Taiwan imports stipulated in the Economic Cooperation Framework Agreement.
9. A delegation of faculty members and students from mainland universities visited Taiwan in November. They were warmly welcomed upon arrival.
10. The Republic of Nauru resumed diplomatic relations at the ambassadorial level with the People's Republic of China, after severing the so-called diplomatic relations with Taiwan.
CMG unveils top 10 news stories in 2024 on relations across Taiwan Strait
Pop-up stores, temporary retail spaces that are open in hustle and bustle business districts for a limited period, typically a few days to weeks, have emerged as a popular sales strategy among retailers targeting young consumers and became a significant driver of increased consumption.
Compared with traditional brick-and-mortar stores or online sales channels, the pop-up store model can efficiently reach a wide range of potential buyers in multiple cities and scenarios at a lower cost.
For instance, at Gate M West Bund Dream Center in east China's Shanghai, a pop-up store, featuring a six-meter-tall Disney's Stitch figure plus exclusive limited-edition merchandise, made this cute fictional character a top hit this May along the Huangpu River. Despite the event lasting only over 40 days, it attracted thousands of people every day to take photos.
According to staff there, many of the blind boxes and dolls for sale are limited editions and were already sold out upon release.
"I feel that exclusive sales can really arouse people's desire to consume. If you miss it, it will be gone. And it is very cute and pretty. It can be posted on moments," said a consumer.
Limited-time offers, exclusive products, or special events associated with pop-up shops creates a sense of scarcity, generate buzz and create a fear of missing out among customers.
Pop-up shops also allow brands to create immersive experiences that go beyond traditional retail environments. By carefully curating the ambiance, decorations, and interactive elements, brands can captivate customers, add excitement and novelty to their shopping journey, and leave a lasting impression.
Since April, China's first-ever LEGO-themed garden has been unveiled at the Bund Finance Center in Shanghai for a limited period, converting the shopping mall into a temporary giant garden featuring thousands of stunning floral creations made from colorful LEGO bricks. By encouraging consumer participation through photo-taking, check-ins, and interactive experiences, the pop-up has successfully pushed the sales of new products to record highs.
"By introducing our new products in this way, our overall sales have been greatly boosted. Consumers' comments can also be fed back to our brand, providing more inspiration for our future product planning and event planning," said Liu Mingsheng, brand manager at LEGO China.
Through the model, brands can enhance their visibility, explore new markets, and trial new product launches. Simultaneously, shopping malls and commercial districts can effectively generate foot traffic in a short period.
"During the period of pop-up activities, the foot traffic is basically doubled compared to regular days. These activities also prolong customers' dwell time within the mall, encouraging spending on dining, leisure browsing, and other purchases, thereby enhancing overall consumption conversion rates," said Wu Yiping, director of Marketing Department at Shanghai Bund Financial Center.
Pop-up stores fuel consumption in China
