Chinese Companies Alter Products, Strategies to Offset Rising Costs
Companies across China are making changes to everyday products and adjusting their business strategies to cope with rising costs and the country’s economic slowdown, which is weighing on consumer spending. Consumer-price inflation in the world’s second-largest economy has been relatively subdued this year, in contrast to the U.S., U.K. and other countries, where it recently hit multidecade highs. Weak demand in China has been a key reason, as well as many companies’ reluctance to charge more for their goods and services.…