China's evolving consumer market, rapid innovation shape global brands' strategies

China's evolving consumer market and rapid pace of innovation are increasingly influencing the global strategies of international brands, company executives said at the ninth China International Import Expo (CIIE), taking place in Shanghai from Nov. 5 to 10.

Italian luxury jewelry brand Bulgari is participating in this year's CIIE, marking its seventh appearance at the event. As Chinese consumers increasingly seek personalized and meaningful luxury experiences, the brand is combining its traditional craftsmanship with innovation and technology to meet their evolving expectations.

"Luxury is actually more and more about personal connection, about true, authentic emotional engagement. The savvy Chinese customer, they don't want to just buy a product for status, because it means something to them, because they want to be part of a universe. And that's the reason why here, especially in China, we really try to offer an immersive and cohesive experience. We are based on craftsmanship, our soul, our artisan, but at the same time innovation and technology, they are key in order to announce the craftsmanship, to be able to reach another level of excellence, for example. Tradition, craftsmanship, only can live if it is able to reinvent itself over and over again," said Laura Burdese, global chief executive officer of Bulgari.

China's fast-moving innovation landscape is also influencing the strategies of global automakers.

German auto giant Audi is showcasing new models at the expo under its dual-brand strategy as it adapts to the Chinese market.

Gernot Dollner, CEO of Audi AG, highlighted China's importance not only as a major market but also as a source of innovation shaping the company's global operations.

"China is a very important part of our global strategy. Here in China the innovation speed is just outstanding, and with what we learn here, what we do here, we substantially influence also our activities in the whole world. Our core slogan 'progress through technology' goes back to exactly that, to innovation, to speed, and to really working on the future of automotive. Here in Shanghai, together with our partner SAIC (Shanghai Automotive Industry Corporation), we will develop the next generation of our advanced digitized platform for the future Audi models," Dollner said.

The CIIE was first announced in 2017 and has been held annually since 2018, providing a platform for overseas businesses to showcase their products and technologies and expand their presence in the vast and growing Chinese market.

China's evolving consumer market, rapid innovation shape global brands' strategies

New Zealand's ruling National-led coalition has secured a parliamentary majority in the general election, preliminary results showed early Sunday, putting Prime Minister Christopher Luxon on course to retain power for a second term.

The Election Commission's tally of all voting places has resulted in 11 "overhang" seats, increasing to 131 the total number of seats in parliament, which normally has 120.

Among the seats, the National Party, ACT New Zealand and New Zealand First collectively secured 67, giving the three-party coalition a narrow majority to continue governing, while the opposition bloc of the Labor Party, the Green Party and the Maori Party garnered 57 in total.

The contest between the National and the Labor, led by former prime minister Chris Hipkins, remained exceptionally close, with each securing over 29 percent, according to preliminary figures.

Addressing supporters in Auckland, Luxon said the election was "too close to call," with the final outcome hinging on special votes to be counted. He acknowledged that negotiations and compromise would be needed to form the next government.

The outcome could still change when 700,000 special votes are counted days later. These include ballots cast by overseas voters and people voting outside their electorates, and are not included in the preliminary results, according to the Electoral Commission, which is scheduled to release the final official results, including special votes, on Nov. 27.

The Green Party has won a record 16 seats in parliament. The centrist Opportunity Party has also made a parliamentary breakthrough, projected to win seven seats, preliminary results showed.

The country has nearly 3.8 million provisionally enrolled voters for the 2026 general election, representing 93.6 percent of the estimated eligible population, below the final enrolment rates of 94.7 percent in 2023 and 94.1 percent in 2020, the commission said.

New Zealand uses the mixed-member proportional voting system to elect its parliament. Under this system, voters cast two ballots, one for a political party and another for their local electorate candidate. The government is usually formed by two or more parliamentary political parties.

New Zealand's National-led coalition wins majority parliamentary seats: preliminary results