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China National Tobacco Corporation, the world's largest cigarette producer, is experiencing significant growth, with domestic sales reaching 2.44 trillion sticks in 2023. Despite global declines in tobacco use, the company has expanded internationally, driven by Beijing's initiatives and a lack of stringent regulations. Its monopoly status and influence over government policy have allowed it to thrive, contributing to 12% of China's tax revenue while facing minimal competition from Western brands.
China is witnessing a transformation in its education and elder care sectors due to a demographic crisis, with many kindergartens repurposing into senior care homes amid declining birth rates. The government is promoting a "silver economy" to support the aging population, which is expected to reach 30% over 65 by 2040, while also planning to raise the retirement age to utilize older workers and alleviate pension burdens.
Xiaomi delivered over 20,000 SU7 electric vehicles in October, aiming for 100,000 by the end of November. The company also announced preorders for the high-end SU7 Ultra, priced at over $110,000, which received 3,600 orders within 10 minutes. Analysts predict Xiaomi will deliver 250,000 cars next year, bolstered by its competitive pricing and recent performance on the Nurburgring race track.
Sonia Heng
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
china tobacco expands globally despite declining cigarette sales worldwide
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