In April 2025, Chinese e-commerce platform Taobao, operated by Alibaba, catapulted from 47th to 5th place among free apps on the US Apple App Store. Similarly, DHgate, a platform connecting consumers directly with Chinese manufacturers, soared to the 2nd spot, trailing only ChatGPT. These apps, previously lesser-known in Western markets, have gained traction as consumers seek cost-effective alternatives amid rising prices.​

A significant driver of this shift is the proliferation of viral TikTok videos revealing that many luxury goods, often perceived as European-made, are actually manufactured in China. These videos have prompted consumers to bypass traditional retail channels, opting instead to purchase directly from Chinese suppliers via apps like Taobao and DHgate.​

The surge in app downloads coincides with the US government’s decision to impose a 145% tariff on Chinese imports and eliminate the “de minimis” exemption, which previously allowed duty-free imports under USD 800. These measures have led to significant price hikes on platforms like Shein and Temu, prompting consumers to explore alternative shopping avenues.

While purchasing directly from Chinese apps may not exempt consumers from tariffs, the perception of accessing products at factory prices remains appealing. However, experts caution that this approach carries risks, including potential quality issues and a lack of consumer protections.​

Interestingly, while exports from Chinese e-commerce platforms to the US have declined by 65% in the first quarter of 2025, shipments to Europe have increased by 28%, indicating a strategic pivot towards markets with fewer trade barriers.​

This phenomenon illustrates how digital platforms and social media can influence consumer behaviour, even amidst geopolitical tensions. As trade policies evolve, the adaptability of both consumers and e-commerce platforms will continue to shape the global retail landscape.

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Effective since 8 April 2025, China’s instant VAT refund initiative allows eligible international visitors to receive VAT refunds directly at the point of purchase, as opposed to claiming refunds upon departure.​

The policy, which was piloted in major tourist destinations like Beijing, Shanghai, and Shenzhen, has now been expanded across the country. Foreign tourists (non-resident status will be verified through passport and visa) can obtain immediate tax rebates by presenting their passports at designated tax-free retailers equipped with digital invoicing systems. The hope is that this streamlined process will not only enhance the shopping experience but also encourage tourists to spend more during their stay.​

Retailers participating in the programme are required to be registered under China’s Tax-Free Retail Programme and must operate digital invoicing systems integrated with the State Taxation Administration’s platforms. The policy stipulates a minimum eligible purchase amount of RMB 500 per shop, per day, with refunds applicable only to eligible goods and potentially subject to final customs checks.​

According to China Briefing, refunds will be based on standard formulas. For example, on a RMB 1,000 purchase with a 13% VAT and an 80% refund rate, a tourist would receive around RMB 92 back.

The implementation of this policy aligns with China’s broader economic strategy to boost spending in the local economy amid global trade tensions. By simplifying the tax refund process, like it has also done with its visa requirements, China hopes to attract more international tourists and enhance their spending within the country. In 2024, the country recorded 64.88 million border crossings by foreign nationals, marking an 82.9% increase year-on-year. The first quarter of 2025 saw 17.44 million crossings, up 33.4% compared to the same period in 2024.​

According to the China Daily, economists project that inbound consumption in China could generate between $1.7 trillion (£1.2 trillion) and $4.5 trillion (£3.3 trillion) over the next decade. The instant VAT refund policy is expected to play a significant role in achieving this target by making shopping in China more attractive to foreign visitors.​

However, the success of this policy hinges on widespread retailer participation and the robustness of digital infrastructure to handle real-time transactions. Experts suggest that ensuring that a broad range of shops and goods are integrated into the refund programme, along with leveraging technologies like artificial intelligence (AI) to boost the efficiency of processing, could further enhance the shopping experience for tourists.​

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On 2 April, China’s Ministry of Finance debuted its first ever green sovereign bonds on the London Stock Exchange. The money raised will go towards projects in China in sectors such as clean transportation, marine conservation and recycling.

The event makes China the latest of more than 50 jurisdictions to issue green sovereign bonds, Xie Wenhong, head of the China Programme at the Climate Bonds Initiative (CBI), told Dialogue Earth. The industry had long been looking forward to China following suit, he said.

Dialogue Earth consulted several experts regarding the launch. Broadly, they welcomed it as a move that would help spur international investment in green projects in China, and offer the country an opportunity to deepen climate cooperation with the UK and EU. China could also include green investment plans in its new climate action plan under the Paris Agreement, they said.

How significant was the bond issuance?

Governments issue green sovereign bonds to raise funds for environmental protection and green development. The money is often invested in areas such as renewable energy, low-carbon transport, green buildings and conservation. It supports national green-development strategies and attracts international investment to projects related to sustainability.

China’s green sovereign bonds issue in London was worth RMB 6 billion (GBP 624.38 million). Of this, half have a 3-year maturity at 1.88% interest, and the other half a 5-year maturity at 1.93%.

For comparison, in 2016 China issued RMB 3 billion of ordinary sovereign bonds in London. Xie explained that it is normal for green sovereign bonds issues to be comparatively large. Germany, for example, issued USD 7.7 billion of green bonds in 2020, alongside ordinary sovereign bonds to the same value.

However, Xie notes that consideration needs to be given to the demand for green funds, and whether it will be possible to use all the money raised. The first ever green sovereign bond was a USD 800 million 5-year bond issued by Poland in 2016, according to a report by the CBI. EU nations, including France, Germany and Hungary, followed suit, along with emerging economies such as Chile, Indonesia and Thailand. In 2017, France issued USD 7.5 billion worth of 22-year green sovereign bonds and has since “tapped”, or increased, the size of the issue to USD 29.5 billion. In 2020, Egypt issued USD 750 million of 5-year green sovereign bonds, the report notes.

China’s debut of RMB 6 billion (USD 824 million) is not particularly large. Mao Xuxin, head of the Bank of China’s London Research Centre, told Dialogue Earth it was understandable for China to keep its first green sovereign bond issue relatively small as it would lead to a higher ratio of bids to sales. According to Xinhua News Agency, the London bonds “spurred strong demand” from international investors. This was despite the interest rates being lower than those of regular government bonds issued in Hong Kong at a similar time, with a similar maturity length. In the end, the bids were 6.9 times greater than the bonds available, Xinhua reported.

Issuing an RMB-denominated bond in London has another advantage for China: it helps internationalise the currency, says Zhang Chuanjie, an environmental, social and governance (ESG) senior researcher at the Bank of China’s London branch. Growth in green finance, Zhang explained, is seen as a way to drive that process, within which the UK is a key location.

“Globally, the UK has always been an important site for the RMB foreign exchange spot market. After Hong Kong, London and Singapore are the two most important international centres of RMB business,” he said.

A focus on climate adaptation in the use of funds

In February, the Ministry of Finance published a framework for issuing green sovereign bonds. It specified possible uses of the funds, including direct investments in projects, contributions to project running costs, support for local governments, and tax rebates. The catalogue of eligible projects refers to an existing list for green bonds, with six major categories:

• Clean transportation
• Sustainable water resources and wastewater management
• Sustainable management and restoration of biological and land resources
• Restoration of marine environments
• Prevention of pollution
• Resource recycling and reuse

“At present, renewable-energy projects – wind and solar power – are not on the list,” Xie observed. “In contrast, a large number of sectors related to ecological conservation and restoration have been incorporated into the framework.” He believes this may signal the emergence of a new trend: using fiscal tools and the bond market to finance projects focused on climate adaptation and resilience.

Sean Kidney, CEO of the CBI, told Dialogue Earth: “The framework is meeting the requirements of China’s national ‘taxonomy’, the Green [Bond Endorsed] Projects Catalogue. That is perfect for sending the right signals to the market.”

Making national climate plans investable

The green transition is a vast project, and the most important aspects of it – climate actions and the energy transition – are facing huge funding gaps. A recent report from the World Economic Forum puts demand for climate finance up to 2030 at USD 9 trillion a year, increasing to USD 10 trillion a year from 2031 to 2050.

A report from the consultancy Oliver Wyman found that China will need RMB 3.5 trillion a year in green finance from 2020 to 2060. Current policy would see an estimated RMB 2.4 trillion of that come from government, leaving a RMB 1.1 trillion gap to fill, the reports states. Market reports have shown that the lack of private investment has consistently been a problem.

Sovereign debt is backed by the state. This means lower risk, making it more attractive for some investors. Green sovereign bonds are, therefore, a good way to leverage private investment in national or regional green transitions. In 2019, the CBI’s Green Bond European Investor Survey found an appetite for more green bonds from sovereign issuers.

Sovereign bonds can also catalyse the corporate bond market. A working paper from the International Monetary Fund found that “the number and the size of corporate green bond issuance increase more in a jurisdiction after the sovereign debut”.

The same research found the effect was strongest in countries with stronger climate policies. That is, alignment between green sovereign bonds and national policies is more likely to drive green investment by the private sector.

Sovereign bonds aligned with national strategies are generally more attractive, said Thomas Dillon, head of sovereign ESG at Aviva Investors, the UK’s biggest investment firm, in a seminar.

Antonina Scheer agrees. She is a policy fellow at the London School of Economics (LSE)’s Transition Pathway Initiative Centre (TPI Centre). The LSE is the academic partner of the investor-led TPI, which aims to support companies and investors in aligning with the low-carbon transition. Scheer told Dialogue Earth that, to encourage private investors to participate in climate finance and investment actions, it is worth considering how investment frameworks and standards can align with national strategies.

Scheer noted that incorporating investment plans into the updated Nationally Determined Contributions (NDCs) “could also boost investor confidence and drive more private climate investment”. Under the Paris Agreement, signatories should have submitted updated NDCs in February – but most countries, including China, have not. Countries that haven’t yet finalised their NDCs could still include investment needs and plans in those documents.

International cooperation

In theory, it doesn’t matter where you issue sovereign debt – international investors will always be able to buy it. But, says Mao, launching in London draws more attention. “Issuing bonds in London helps China attract international investors, and offers the City a chance to diversify its offering of green financial products and distinguish itself from Wall Street,” Mao added. The Bank of China’s London branch also plans to issue new sustainability bonds this year, in both RMB and GBP, Zhang noted.

Kidney told Dialogue Earth that usually, countries tend to issue their green sovereign bonds at home, and this is the first time another country has done so in London. “China is doing it specifically to underline the green underpinnings of the UK-China climate dialogue, i.e. for political purposes,” he said, welcoming the move. The UK government recently announced that China and the UK are set to restart formal climate talks, with China’s environment minister to visit London and the talks to become institutionalised for the first time.

According to a Bloomberg report, China’s choice of London to issue green sovereign bonds “will test appetite among international investors to shift climate bets to the world’s top polluter” and is aimed at “showcasing the nation’s green leadership credentials as the US retreats under President Donald Trump”.

Experts who spoke with Dialogue Earth all mentioned the effect of the change in administration at the White House and agreed this could be an opportunity for better climate cooperation between China and the UK, and China and the EU. Speaking to the Financial Times, Adair Turner, chair of the Energy Transitions Commission, said that China, the EU and the UK should form a climate coalition of “the world apart from the US” in response to the US retreat under President Trump. If China’s first green sovereign bonds are successful, there are hopes they will result in more climate investment both in the country and internationally.

This article was originally published by Dialogue Earth

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Secure the right visa in advance

Obtaining a visa for China requires careful preparation, as the process varies depending on the purpose of travel. Business visitors typically need an M visa, which requires an invitation letter from a Chinese company or partner, along with standard documents such as a valid passport, a completed application form, and a recent photo.

Applications must be submitted through the Chinese Visa Application Service Centre (CVASC), which has locations in London, Manchester, Belfast and Edinburgh. Fees vary based on visa type, nationality, and processing speed. Travellers should apply well in advance and double-check requirements, as policies can change. For frequent business travelers, multi-entry visas with longer validity may be an option, simplifying future trips. Ensuring all documents are accurate and complete is essential to avoid delays in the approval process.

Stay connected: SIM cards and VPNs

China’s internet restrictions mean many Western platforms – Google, WhatsApp, Facebook, and even some email services – are blocked. Here’s how to stay connected:

If you want to keep using them, then you’ll need a virtual private network (VPN). VPNs are a bit of a legal grey area in China, but the major illegality tends to relate to selling VPN access rather than using one. Just be sure to get everything installed and ready to go before you get to China. In our experience, the most reliable VPN for use in China is Astrill, although NordVPN and ExpressVPN are also popular.

If you have a good international roaming package, you should also be able to access Google and others on mobile data. If you’d prefer to get a local Chinese phone number for the duration of your trip, China’s three mobile providers – China Unicom, China Mobile, and China Telecom – offer SIM-only plans that you can buy by going into one of their stores. Again, you will need to register with your passport.

Must-Have Apps for Business Travel

China’s digital ecosystem is dominated by local apps. Download these before you go:

Communication and networking

• WeChat (微信) – The all-in-one app for messaging, payments, and business networking.
• DingTalk (钉钉) – Popular for corporate communication.

Payments and transport

• Alipay (支付宝) / WeChat Pay – Cashless payments are king; set these up with a foreign card.
• Didi (滴滴) – China’s Uber alternative (link to Alipay/WeChat Pay).

Translation and navigation

• Pleco (offline Chinese-English dictionary).
• Baidu Maps (Google Maps doesn’t work well in China).

Pro Tip: Test your apps before departure – some require a Chinese phone number for registration.

Managing money and payments

Over the past few years, China has fully embraced mobile payments, becoming an almost cashless society. While this makes life very convenient for people living in China, it can create problems for people who are just visiting.

Thankfully, China has introduced several measures to make payments easier for international visitors. Foreign tourists can now connect their overseas bank cards (including Visa, Mastercard and Diners Club) to popular Chinese payment platforms such as Alipay and WeChat Pay without needing a local bank account.

Following the release of the latest guidelines, the transaction limits for foreign nationals using mobile payment services have also been increased from US$1,000 (approx. RMB 7,233 or £790) to US$5,000 (approx. RMB 36,166 or £3,945) for single transactions, with the annual transaction limit increasing from $10,000 to $50,000.

Foreign users can complete the initial activation of WeChat Pay without a Chinese SIM card and make payments up to a cumulative limit of RMB 15,000 for a certain amount of time without verification.

Read our guide on the set-up process for WeChat here.

Major banks like Bank of China and Industrial and Commercial Bank of China (ICBC) have also improved access, allowing foreign cards to be used at more ATMs nationwide. Some hotels, shops and tourist attractions, especially in bigger cities, do accept international credit cards, including Visa and Mastercard.

Navigating transport

Booking internal flights and train journeys should be one of the easier aspects of your travel to China. You can search and book both through travel giant Trip.com’s app or website, which have English interfaces and accept international payment methods.

You will need to enter your passport details when booking either trains or flights (which may come as a surprise for those used to flying domestic in the UK/US), and in the case of the train, your passport is actually your ticket – either scan it when passing through the security gates (in newer stations like Beijing South) or present it at the staffed security gate when boarding the train.

Regarding trains, it is worth familiarising yourself with the codes used for the different types of trains in China so you can find the best routes; G are the quickest and newest, for example. China Highlights has a detailed guide.

Taxis in China are abundant, especially in major cities. Most people use a ride-hailing app like Didi, which can be used to book everything from taxis to luxury limos. Unfortunately, the Didi app is not currently available to download from UK app stores, but it can be used as a mini-program on WeChat and Alipay if you have either of these set up.

Most major cities in China – including Shanghai, Beijing, Guangzhou, Shenzhen, Chengdu, Hangzhou, Wuhan, and Nanjing – have subway lines linking key business districts and tourist attractions. All the subway networks are easy to navigate thanks to signage and announcements in English.

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Who needs a visa for China?

UK citizens must obtain a visa before travelling to mainland China. This requirement applies to various purposes, including business activities, tourism, and visiting family or friends. It’s important to note that visa requirements for Hong Kong and Macao differ from those of mainland China.

Where and how to get a visa for China

Visa for China are applied for via the Chinese Visa Application Service Centres (CVASCs). All applicants should prepare any supporting documents (e.g. passport, photograph) and fill in a visa application form online, before proceeding to an application centre (located in London, Manchester, Edinburgh and Belfast) to submit the application, pay any fees and provide biometric data (fingerprints) if required.​

The types of supporting documents vary depending on the type of visa. For example, applicants for a tourist or ‘L’ visa will need to provide a travel itinerary, while applications for a business or ‘M’ visa will need to provide an invitation letter from with a business entity in China. See here for more information about the types of visas and supporting documents.

Fees vary depending on the type and duration of the visa. For UK citizens, a standard single-entry visa costs £130, while multiple-entry visas valid for five and 10 years are also available (see here for a full breakdown of fees). Express and urgent processing services are available at higher fees.​

Does everyone need a visa for China?

While most travellers require a visa, China has implemented certain visa-free policies that may benefit UK business professionals:​

144-hour visa-free transit: As of December 2024, China expanded its visa-free transit policy, allowing citizens from 54 countries, including the UK, to stay in select regions for up to 10 days without a visa when transiting to a third country. This policy applies to entry through 60 designated ports across 24 provinces. To qualify, travellers must have a confirmed onward ticket to a third country and meet other specific criteria.​

Hainan province: Since May 2018, Hainan Island offers 30-day visa-free entry for citizens from 59 countries, including the UK, for purposes such as business, family visits, medical treatment, and tourism. Travellers can enter via direct flights or through Hong Kong or Macao.​

Hong Kong and Macao: UK passport holders can enter Hong Kong and Macao visa-free for stays of up to 90 days. However, if you plan to travel from these regions into mainland China, a separate visa is required.​

It’s advisable to consult the latest information from official sources or your travel provider before planning your trip, as visa policies can change.​

Additional considerations

Passport validity: Ensure your passport is valid for at least six months beyond your intended stay and contains sufficient blank pages for visas and entry stamps.​

Registration upon arrival: Foreigners staying in private accommodations must register with the local Public Security Bureau within 24 hours of arrival. Hotels typically handle this registration for their guests.​

Compliance with visa conditions: Adhere strictly to the conditions of your visa. Overstaying or violating visa terms can result in fines, detention, or deportation.​

For the most up-to-date information, always check the website of the Chinese Visa Application Service Center or the UK government travel advice before making travel plans.

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The Rise of Chinese Brands on the Global Stage

Chinese brands are no longer content with dominating their domestic market. Companies like BYD, MINISO, HEYTEA, and Pop Mart are making strategic moves to establish themselves as global players. These brands are leveraging their unique cultural narratives, innovative product offerings, and strategic partnerships to capture the attention of international audiences.

For instance, BYD, the Shenzhen-based electric vehicle (EV) giant, has been aggressively expanding its global footprint. In 2024, BYD replaced Volkswagen as the automotive partner for the UEFA European Football Championship, a move that significantly boosted its visibility in Europe. The company’s strategic use of sponsorships, flagship stores, and digital advertising has helped it position itself as a serious contender in the global EV market.

Similarly, Pop Mart, the Chinese collectibles retailer, has transformed into a cultural phenomenon, particularly in Southeast Asia. With its beloved character LABUBU gaining popularity among influencers, Pop Mart has successfully tapped into the region’s pop culture zeitgeist. The brand’s overseas revenue surged by 440% in 2024, underscoring its growing global appeal.

Collaboration: A Gateway to Cultural Relevance

Collaborations between Chinese and Western brands offer a unique opportunity for brands to reinterpret their identities through a cultural lens, creating products and experiences that resonate with diverse audiences.

A standout example is the collaboration between MINISO and the Harry Potter franchise. In October 2024, MINISO transformed its Shanghai flagship store into an immersive Harry Potter-themed wonderland, complete with themed products and interactive experiences. The launch generated record-breaking sales, with the Harry Potter product line contributing nearly 80% of the store’s revenue on the first day. The collaboration also went viral on Chinese social media, amassing 28 million views on Xiaohongshu and 1.6 million views on Weibo.

Another notable collaboration is between the British Library and Yuewen Group, China’s leading digital literature platform. This partnership aims to bridge British and Chinese literary traditions by introducing Yuewen’s online novels to the British Library’s collection and fostering creative exchanges between writers from both cultures. The initiative highlights the potential for cultural collaborations to transcend borders and create new narratives that resonate with global audiences.

The Diaspora Opportunity: Engaging Overseas Chinese Consumers

The report also emphasises the growing importance of the Chinese diaspora as a key consumer group. With close to half a million Chinese residents in the UK alone, this demographic represents a lucrative but often overlooked market. Brands that can effectively engage with this audience stand to gain a loyal and high-spending customer base.

Tiffany & Co. provides a compelling case study in this regard. To celebrate the Qixi Festival (China’s equivalent of Valentine’s Day), the luxury jewellery brand launched a campaign targeting UK-based Chinese consumers. By collaborating with influencers and creating content that celebrated diverse forms of love, Tiffany successfully drove foot traffic to its London store and increased engagement across Chinese social media platforms.

Heathrow Airport also tapped into the diaspora opportunity with its Chinese New Year campaign, “Heathrow Together.” The campaign linked traditional Lunar New Year activities with the airport’s services, creating a culturally resonant narrative that appealed to Chinese travellers. The campaign exceeded all metrics, delivering millions of impressions and hundreds of thousands of engagements.

Competition and Localisation: The New Normal

As Chinese brands expand globally, they are not only collaborating with Western brands but also competing with them. This dual dynamic presents both challenges and opportunities for incumbent brands.

MINISO, for example, has rapidly expanded its presence in Western markets, opening over 200 stores in the US and a flagship store on London’s Oxford Street. The brand’s success lies in its ability to localise its offerings while maintaining its core identity as a provider of affordable, trendy lifestyle products. By leveraging popular IPs like Marvel and Sanrio, MINISO has carved out a niche in the competitive retail landscape.

HEYTEA, the Chinese tea brand, has taken a bold approach to global expansion by prioritising highly competitive markets like the UK and North America. The brand’s collaboration with London’s Royal Ballet and Opera during a pop-up event at the Royal Opera House exemplifies its commitment to blending traditional tea culture with contemporary experiences. This fusion of tea and theatre not only captivated overseas Chinese consumers but also introduced HEYTEA to a broader audience.

Conclusion: A New Era of Branding

The rise of Chinese brands and the growing influence of the Chinese diaspora are reshaping the global marketplace. Brands that can harness the power of collaboration, cultural relevance, and localisation will be well-positioned to thrive in this interconnected world.

For a deeper dive into these trends and more case studies, download the full report by TONG Global and CBBC.

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Founded in 2023 by Liang Wenfeng and headquartered in Hangzhou, DeepSeek specialises in developing open-source large language models (LLMs) – advanced AI models trained on vast amounts of data to understand and generate everything from poetry to Java code. Its flagship model, DeepSeek-R1, has garnered significant attention for its performance and cost-efficiency, challenging established Western AIs like OpenAI’s ChatGPT and Google Gemini.

A new AI contender

DeepSeek’s chatbot offers capabilities comparable to leading platforms like ChatGPT but distinguishes itself through its development efficiency. The company claims the model was trained at a cost of approximately $6 million, a stark contrast to the estimated $100 million expenditure for OpenAI’s GPT-4 in 2023. Moreover, DeepSeek-R1 requires only a tenth of the computing power of similar models, highlighting its resource efficiency.

Early users have found that the model performs as well as ChatGPT and Gemini, although many have raised questions about censorship (which will be explored further below). Performance and news headlines have brought a lot of attention as a result, and DeepSeek’s first free chatbot app for iOS and Android platforms surpassed ChatGPT as the most-downloaded free application on the US iOS App Store on 27 January.

Market disruption and economic implications

The swift rise of DeepSeek has had profound effects on global markets. DeepSeek’s open source model and lower development and computing costs undercut a common belief in Silicon Valley that AI can only advance with the input of huge budgets and top-tier chips.

As a result, shares of major technology companies, particularly those heavily invested in AI infrastructure, experienced sharp declines when markets opened on Monday, 27 January. For example, chip manufacturer Nvidia saw its stock price drop by 18% over concerns that DeepSeek’s efficient models could reduce the demand for chips, thereby impacting Nvidia’s future revenue streams.

Strategic implications for countries looking for AI supremacy

DeepSeek’s emergence underscores China’s rapid progress in AI. This has raised concerns about the effectiveness of bans on advanced chip and technology exports to China and prompted discussions about the need for strategic investments to maintain a competitive edge.

The company’s success also challenges long-held stereotypes about Chinese innovation, demonstrating that China is capable of being a leader rather than a follower and producing high-performance, cost-effective AI solutions. Chinese media have widely praised DeepSeek for its small yet formidable team, primarily comprised of young graduates from China’s top universities who have been deeply immersed in the tech field from a young age.

And it is not the only Chinese company purporting to be breaking new ground in the AI field. On 29 January, Alibaba (owner of Taobao, Tmall and Alipay, among others) announced a new version of its Qwen 2.5 AI model that it claims surpasses DeepSeek, OpenAI and Meta’s latest models.

Ethical and regulatory considerations

Despite its achievements, DeepSeek has faced scrutiny over data privacy and censorship concerns. The company’s models reportedly adhere to Chinese censorship laws, avoiding politically sensitive topics, which has raised questions about the ethical implications of such restrictions.

Moreover, there have been allegations that DeepSeek illicitly used OpenAI’s models to train its own through a technique called “distillation”, potentially infringing on intellectual property rights. This has caused some to question DeepSeek’s claims about how it produced its model so cheaply, although it should be noted that models like ChatGPT have also been criticised for infringing on intellectual property rights.

Finally, in the wake of the US Supreme Court upholding a law that could ban TikTok in the US over national security concerns (since being pushed back by an executive order from Trump), some have raised similar questions about DeepSeek’s collection, use and storage of data. As The Guardian reports, DeepSeek’s privacy policy states that the personal information it collects is held on secure servers in China.

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The Awards were announced and presented at the Chinese Burns Supper held by the China-Britain Business Council (CBBC) in Glasgow on 30 January 2025, with over 270 guests in attendance.  

Businesses were shortlisted across six different categories: Chinese Corporate of the Year, Educational Partnership of the Year, Scottish Corporate in Hong Kong 2025, ESG Champion of the Year, Marketing Campaign of the Year, and China Welcome of the Year.  

CNOOC Petroleum Europe Ltd won the award for Chinese Corporate of the Year: a category which celebrates the huge contribution that Chinese businesses make to the Scottish economy. CNOOC Petroleum Europe Ltd entered the UK North Sea in 2013 and has been a major player in the UK’s offshore energy industry ever since: employing around 600 staff across its onshore and offshore operations and investing in local communities through financial and voluntary support all the while exploring opportunities to integrate renewable energy sources in its offshore operations.  

Celebrating the power of UK-China educational collaboration, the award for Educational Partnership of the Year went to the Scottish Qualifications Authority (SQA) and the Chinese Service Centre for Scholarly Exchange (CSCSE). Following an MoU signing between the Scottish Executive and the Ministry of Education, China, in January 2003, the SQA has worked in collaboration with CSCSE to offer training and skills-based, short-cycle higher education qualifications, SQA Advanced Diplomas (ADs) in China for over 20 years – a partnership that has certainly stood the test of time.  

The award for Scottish Corporate in Hong Kong 2025, sponsored by Invest Hong Kong, showcased the impact that Scottish businesses are making in Hong Kong’s dynamic market. It was won by Cashmaster International, a leading global provider of cash management solutions with a design and manufacturing centre based in Dalgety Bay, Scotland, and extensive experience of supporting the Hong Kong market. Since having entered Hong Kong in 2017, Cashmaster International has supported over 25 large enterprises in the region and has provided more than 5,000 devices and accessories to the Hong Kong market. 

Leading Scottish engineering group, Weir Group took home the award for ESG Champion of the Year – a category that recognised the importance of sustainable business practices in Scotland and China. Weir Group has a long history of operations and engagement in China, and today the company employs around 600 staff in China. In 2024, Weir Group marked an important and exciting milestone as it opened a brand new, $60 million state-of-the-art manufacturing facility in Xuzhou – a facility setting new standards for Weir in terms of efficiency and sustainability, and supporting the company’s delivery of its commercial and ESG goals. 

The award for Marketing Campaign of the Year, sponsored by logistics company W.M. London, went to leading China Marketing agency, Emerging Comms, and Glencairn Crystal, Scotland’s premier creator of professional whisky glassware. The marketing campaign run by Emerging Comms tackled unique challenges that Glencairn Crystal faced in the Chinese market: boosting the brand’s credibility, image and increasing brand awareness amongst Chinese consumers.  

The campaign partnered with industry KOLs to create compelling educational content from Emerging Comms’ Scottish studio, with whisky-related influencers delivering expert endorsements, and lifestyle KOCs generating authentic testimonials. The campaign achieved over 852,000 reads, and has helped establish sustainable growth for Glencairn Crystal in China.  

Finally, the return of an award category that had become impossible due to travel restrictions in recent years, China Welcome of the Year provided a timely opportunity to acknowledge the efforts of Scottish companies in the retail, travel and hospitality sectors who have gone over and above in welcoming Chinese visitors to Scotland. Sponsored by the Scottish Confucius Institute for Business and Communication at Heriot-Watt University, the award went to leading travel consultancy and destination management company, Magna World Ltd.  

Established in 2015 – with headquarters in Scotland and a branch in Hainan, China – Magna World has evolved from organising bespoke tours to becoming a significant contributor to Scotland’s economy through inward investment. Magna World has built strong relationships with leading Chinese travel agencies and created memorable experiences such as whisky tastings, historical castle stays, and golf packages, reflecting Scotland’s rich heritage. And in a milestone achievement, the company expanded its role by securing inward investment to purchase two historic castles in Scotland: supporting local tourism and hospitality, as well as preserving Scotland’s cultural heritage.  

Now going into its 12th year (a full cycle of the Chinese zodiac!), the China-Britain Business Council’s Chinese Burns Supper, in partnership with the University of Glasgow and Scottish Development International and Scottish Enterprise, has become a permanent fixture in the China-Scotland business calendar.   

The unique event featured a fusion of Burns Night traditions with those of Chinese New Year as a backdrop for black-tie networking for the China-Scotland business and educational community. Guests enjoyed a dynamic programme of entertainment – ringing in the Year of the Snake in style – with the customary Address to a Haggis, a Lion Dance, Chinese Ribbon Dancing and for the first time ever, a ceilidh, amongst other performances. Bufan Li, a Chinese student in the University of Glasgow’s music department, sang A Red, Red Rose accompanied by Andy Chung on guitar. 

Funds were raised to support two noteworthy charities: Waverly Care – a Glasgow-based HIV and hepatitis C charity, with a range of specially tailored services supporting the Chinese community affected in Scotland. And the Migrant Children’s Foundation – which enriches and develops the lives and education of disadvantaged children in China via a plethora of educational and health-focused initiatives. 

The Awards were generously supported and made possible by CBBC’s partners and sponsors:

The University of Glasgow; Hong Kong Economic and Trade Office, London; Scottish Development International; Scottish Enterprise; The Scottish Confucius Institute for Business and Communication at Heriot-Watt University; Invest Hong Kong; WM London 

The full list of Nominees for each Award category is as follows: 

Chinese Corporate of the Year 

• BYD 
• CNOOC Petroleum Europe Limited  
• Hainan Airlines 

Educational Partnership of the Year 

• Scottish Qualifications Authority & CSCSE 
• Lancaster University College at Beijing Jiaotong University 
• Uoffer Global 
• Edinburgh Napier University & Shanghai Normal University (SHNU) 

Scottish Corporate in Hong Kong 2025 

• EGG Lighting 
• Cashmaster International 
• Speak with Impact 
• Murray & Currie 

ESG Champion of the Year 

• Burness Paull LLP 
• Weir Group 
• University of Strathclyde 

Marketing Campaign of the Year 

• Shanghai Yiming Cultural Information Consulting 
• Edrington 
• The Edinburgh Natural Skincare Company / Commercial Cross  
• Glencairn Crystal / Emerging Comms 

China Welcome of the Year 

• Johnnie Walker Princes Street 
• Magna World Travel 
• Montblanc Consulting 

For further enquiries about the awards, please contact James Brodie at James.Brodie@cbbc.org.

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Chunyun (literally “Spring transport”) refers to the 40-day peak travel period around Spring Festival (aka Lunar New Year), which this year falls on 29 January. Millions of people take advantage of the extended time off from work and study to travel back to their home regions and spend the important festival with family. As a result, train stations and airports are packed, and tickets are expensive and hard to come by.

How big will chunyun 2025 be?

This year, authorities are estimating a record 9 billion domestic trips (of which car trips will account for 80%) will be made during the 40-day period of festivities, which began on 14 January 2025. It is hoped that travel and tourism during this period will boost domestic consumption at a time when the Chinese economy has been struggling.

New Spring Festival travel trends

As China Briefing notes, in recent years, there has been a growing trend of people combining their Spring Festival celebrations with tourism and celebrating with their families in a new destination. This is especially true among urban Millennials and Gen Z, many of whom find the pressure of returning home and spending time with more traditionally-minded relatives overwhelming.

Within China, the most popular destinations for Spring Festival travel are either warmer locations such as Yunnan and Guangdong, or winter destinations like Harbin and Jilin. Officials at the Ministry of Transport have predicted a 25% increase in travel for leisure purposes.

International travel is also popular with people from first and second-tier cities. With several new visa exemptions for Chinese tourists in place (including Thailand and Singapore), international journeys are set to boom. It is also hoped that China’s own new beneficial visa policies will attract foreign visitors to China. According to Xinhua, in 2024, 64.88 million foreign visitors travelled to China, an 82.9% increase from the previous year, of which visa-free entries accounted for 20.12 million visits.

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From evolving trade policies to technological decoupling, this article gives a brief overview of what we know so far about what Trump 2.0 means for China.

Whither the US-China trade war

A defining feature of Trump’s first term was the US-China trade war, characterised by tariffs on hundreds of billions of dollars in Chinese goods. While no immediate tariffs were announced in Trump’s first day in office, a trade memo directed the government to scrutinise US trading relationships and evaluate China’s compliance with the 2020 US-China Economic and Trade Agreement.

There were some signs of détente in the form of a meeting between Elon Musk and Chinese Vice President Han Zheng just before the inauguration, where Han reportedly invited US firms including Tesla to deepen investments in China and Musk reaffirmed Tesla’s commitment to expanding cooperation with China.

Nonetheless, this measured start is unlikely to extend into the long term. Trump’s approach to trade will focus on securing tangible, short-term wins for the US, often without regard for broader strategic consequences. Moreover, China is in a weaker economic position than it was during the opening salvo of the trade war, as it faces a sticky real estate crisis, rising youth unemployment and depressed consumer confidence.

The TikTok question

For an example of Trump’s strategic unpredictability in US-China relations, we need only look to his handling of the TikTok controversy. During his first term, Trump ordered a ban on the Chinese-owned app, citing national security concerns. However, on 20 January 2025, Trump signed an executive order to delay the enforcement of a law requiring TikTok owner ByteDance to sell its US operations to an American or allied buyer or face a ban for an additional 75 days. After going dark for a few hours on Sunday, an announcement on the app credited Trump as its saviour. The TikTok decision underscores Trump’s tendency to use high-profile cases as leverage for broader concessions – especially if they benefit him, as TikTok did during his campaign. China will have to navigate the risks and opportunities of this transactional policymaking.

Decoupling in technology

Despite his TikTok reprieve, technology will remain at the heart of Trump’s US-China policy.

His first term saw the blacklisting of companies such as Huawei, and restrictions on semiconductor exports – actions that disrupted China’s tech ecosystem. The Financial Times reports that further measures targeting critical technologies – such as artificial intelligence and quantum computing – are likely to curb China’s ambitions in these fields.

For China, the emphasis will shift to achieving self-reliance. The Made in China 2025 strategy, which aims to reduce dependence on foreign technology, is poised to take on even greater importance. However, Beijing faces significant hurdles, including its reliance on advanced semiconductor manufacturing equipment from US-aligned countries. While China has made progress in innovation, it remains constrained by gaps in high-end technologies, a vulnerability that Trump’s policies will continue to exploit.

Geopolitical rivalries in Asia

Trump’s “America First” agenda has historically created openings for China to expand its influence across Asia. However, his second term may see a recalibration of this strategy. Trump is likely to adopt a more assertive stance in the Indo-Pacific, leveraging alliances to counterbalance China’s growing clout.

This renewed focus aligns with Trump’s broader goal of containing Beijing’s regional ambitions, particularly in the South China Sea. Nevertheless, Trump’s transactional diplomacy could undermine the unity of these alliances. For example, his demands for increased defence contributions from allies like Japan and South Korea may alienate key partners, inadvertently strengthening China’s position in the region.

Conclusion: A high-stakes four years

Trump’s second term presents both challenges and opportunities for Beijing, from potential trade resets to heightened risks of technological decoupling and geopolitical competition. For policymakers on both sides, managing this complex relationship will require balancing immediate priorities with long-term strategic considerations.

China’s response to Trump’s agenda will be closely watched worldwide. Whether Beijing chooses to double down on self-reliance or seeks avenues to de-escalate tensions, the stakes are immense for the global economy and international stability. As the two superpowers continue their strategic rivalry, the international community can only hope for a path that avoids escalation and fosters cooperation on pressing global issues.

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