Chinese Market Research Articles

The Situation of Counterfeited and Mislabeled Commercialized Edible Mushrooms in China and the Development of Possible Controls

Edible mushroom products, encompassing both cultivated and wild varieties, are highly favored by consumers due to their rich nutritional profiles, including significant levels of proteins and amino acids. These mushrooms have extensive applications across the food, pharmaceutical, and cosmetic industries, making the edible mushroom industry a vital component of global poverty alleviation efforts. Taking China as an example, the country produces over 45 million tons of edible mushrooms annually, accounting for 94.01% of the world’s total production, thereby establishing itself as the leading global producer of edible mushrooms. However, alongside the rapid expansion of this industry, concerns have emerged regarding counterfeit products and incidents of poisoning resulting from the consumption of toxic wild mushrooms. As follows, to advance the development and integrity of the mushroom production and processing industry: (1) This study presents the situation of counterfeit edible mushrooms and elucidates the factors contributing to the production of fraudulent products from both subjective and non-subjective perspectives. (2) We provide a detailed introduction to 22 varieties of freshly cultivated edible mushrooms and commonly encountered wild edible mushrooms in the Chinese consumer market, proposing the application of DNA barcoding, environmental DNA analysis, and other technologies for the future authentication of counterfeit mushroom products. (3) Concurrently, we present an overview of mushroom poisoning incidents in China from 2010 to 2023, emphasizing the challenges in mitigating the risks associated with wild mushroom consumption and preventing food poisoning, thereby necessitating heightened consumer caution. (4) Finally, we offer four recommendations aimed at ensuring the healthy, stable, and sustainable growth of the edible mushroom industry.

Pay inequality for stability? Investment preference of the national team intervention in Chinese stock market

We examine the factors that affect the investment decisions of the “national team”, a direct intervention dominated by the central government in the Chinese stock market. By describing the investment preferences of the national team, we discuss the objectives of the intervention policy in implementation. We find that larger firms are more likely to receive investment. The national team prefers undervalued firms and is positively related to future stock returns. We also find that firms under central government control are more likely to receive investment from the national team. This may cause these investments to be relatively inefficient. We provide novel evidence to evaluate the policy and the positioning of the national team in terms of rationality, fairness, and efficiency, and we reveal a potential mechanism by which government intervention in financial markets may cause inequality in the real economy.

Leveraging corporate governance characteristics for stock crash risk assessment

Causing considerable losses for individual investors, stock crashes are also potential triggers for wider financial crises. In contrast to existing research that primarily focuses on specific corporate governance characteristics in relation to stock crash risk, in this study, we construct a set of corporate governance attributes and employ machine learning techniques for a comprehensive assessment of stock crash risk. Through empirical analysis in the Chinese stock market, we find that our corporate governance attributes are effective indicators of stock crash risk, yielding statistically significant and economically meaningful crash risk assessment. Additionally, our heterogeneity tests suggest that firms with less concentrated shareholding result in superior assessment accuracy. This observation is consistent with prior findings that increased retail investor participation enhances corporate governance transparency, thereby contributing to better assessment performance. Industry-wise, the performance of crash risk assessment for real estate companies is higher than that for cultural, sports, and entertainment sectors. We speculate that these variations stem from industry-specific factors, such as business logic, operational models, and profit mechanisms. Our results also suggest that characteristics related to shareholder meetings are pivotal in assessing crash risks for manufacturing companies, while board-related features are essential for real estate firms. Overall, this study contributes to current literature by validating the feasibility of employing corporate governance characteristics to assess crash risk and by exploring the economic value of crash risk assessment. Furthermore, we discuss several valuable insights into the Chinese stock market through heterogeneity analysis.

Hukou Stratification and Job Precariousness between the State and Market Sectors in Contemporary China, 2010–2021

Echoing the global expansion of precarious employment, China has experienced a surge in labor flexibility and job deterioration since its integration into global capitalism. Existing research also highlighted the distinct features of the Chinese labor market related to its post-socialist nature. The Chinese household registration system, known as hukou, has been critical in explaining stratification and shaping labor market outcomes in China. However, hukou reforms in the recent decade have further relaxed restrictions on labor mobility and hukou conversion, suggesting that hukou may gradually lose its importance in transitional China. Building upon the global research on precarious work and dynamics of precariousness in employment in the Chinese context, I conceptualize job precariousness in the contemporary Chinese labor market in three dimensions. Using pooled data from the 2010 to 2021 Chinese General Social Survey, I examine how hukou stratification is associated with the three aspects of job precariousness, compare the relative importance of hukou with other market-related factors, and identify the disparities of the state and market sectors. The findings help contextualize global trends of precariousness by broadening the evidence base through a case in China.

Research into intergenerational differences among Chinese female tourists consuming Thai cosmetics

Consumers, particularly women, pursue beauty and health in order to uphold their image within society, which has contributed to consistent demand for cosmetics. The cosmetics market, driven by globalization and cultural exchange, sees Thai cosmetics gaining popularity among Chinese women. There has been a significant rise in the popularity of Thai cosmetics, known for their natural ingredients and innovative formulations. With a growing interest in cross-cultural consumer behaviour, particularly in the context of skincare and make-up products, understanding how different age groups perceive and choose Thai cosmetics is crucial for effective marketing strategies. The main issue is the development of consumer preferences over time among Chinese women who have only recently been given the opportunity to choose among many brands. This qualitative study explores the intergenerational differences in Chinese female consumers’ preferences for Thai cosmetics, aiming to uncover rich insights into their perceptions, attitudes, and behaviours. The target population is female Chinese who have visited Thailand and purchased or used Thai-branded cosmetics. Key themes emerge regarding the perception of product efficacy, the cultural authenticity and the role of digital media and trends in influencing product choices. Findings highlight nuanced generational preferences, with older cohorts emphasizing trust and familiarity with established brands, while younger cohorts prioritize innovation, sustainability, and personalized beauty experiences. These insights provide valuable implications for marketers seeking to tailor strategies and product offerings to engage effectively diverse generational segments within the competitive cosmetics market.

The impact of verbal behavior on audience engagement in Chinese talk shows: Based on a novel mediation model

This study employs the Stimulus-Organism-Response (SOR) model to construct a new mediation framework, examining the impact of Chinese stand-up comedians' language on audience engagement from both quantitative and qualitative perspectives. Statistical analysis of data from 415 online viewers of stand-up comedy shows revealed that comedians' humorous language significantly enhanced audience engagement by positively influencing their enjoyment. Based on this, in-depth interviews were conducted with 8 viewers to understand their specific perceptions of different types of humor. The analysis results showed that Chinese audiences had a higher acceptance of affiliative humor, self-deprecating humor, and humor incorporating traditional cultural elements, while they had lower acceptance or even rejection of aggressive humor, political satire, and vulgar humor. This study enriches the research on the relationship between Chinese stand-up comedy shows and audience engagement, providing insights for improving the production of Chinese stand-up comedy shows and for Western entertainment programs entering the Chinese market.

Consumer interaction and privacy: the impact of in-feed lead generation ads on self-disclosure intention

PurposeAmidst the growing emphasis on privacy protection, this study aims to investigate how online interaction introduced in Lead Generation Ads (LGAs) affects consumers' Self-Disclosure Intention (SDI), particularly in the context of the Chinese advertising market.Design/methodology/approachThis research employs two scenario-based online surveys to analyse in depth the impact of LGAs on consumers' SDI. The first study collects valid feedback from 220 consumers through an online questionnaire to assess the direct effect of perceived interactivity on SDI. The second study, using an experimental design with a sample of 265 participants, further explores the mediating roles of perceived control and perceived vulnerability in the relationship between perceived interactivity and SDI and examines the moderating effect of privacy invasion experience (PIE).FindingsThis study reveals the significant and positive influence of perceived interactivity on SDI, with perceived control acting as a mediator that enhances this effect. Conversely, perceived vulnerability weakens the positive impact of perceived interactivity on SDI. Additionally, we explore the moderating role of PIE and find that it significantly influences the relationship between perceived interactivity and SDI. These findings underscore the importance of considering consumer privacy sensitivity, particularly in the design of interactive marketing strategies and within highly interactive advertising environments.Research limitations/implicationsOur research uncovers consumer privacy attitudes and behaviours in the Chinese market, providing insights into its unique dynamics of privacy and information disclosure. However, the geographical and cultural specificity of our study may limit its generalizability. Future studies should expand into various cultural and market contexts, considering the impact of digital technologies on consumer interactions and information disclosure, thereby enhancing the depth and applicability of global marketing strategies.Practical implicationsAdvertising platforms should explore online interactive communication methods to enhance consumers' perceived interactions and alleviate privacy concerns. Also, platforms should be designed with system security in mind to prevent the leakage and misuse of consumer data, thus increasing consumers' SDI.Social implicationsThe study provides insights for marketers on designing more effective and privacy-sensitive online advertising strategies in the Chinese market. Understanding the factors influencing consumers’ willingness to share personal information can lead to more effective engagement in digital marketing campaigns.Originality/valueBy integrating interactivity theory with privacy computing theory, this research provides a new perspective on the role of online interaction in consumer privacy protection and information disclosure decisions. The findings not only enrich the theoretical frameworks of interactive marketing and privacy protection but also offer empirical support for marketing practitioners in regard to designing interactive advertising strategies, especially balancing consumer privacy protection with the enhancement of shopping intentions.

Determining the sequence of intersecting lines formed by laser printer toner and seal ink based on confocal Raman spectroscopy.

In the field of questioned document examination, determining the sequence of intersecting lines is still a technical challenge. This study aims to validate whether confocal Raman spectroscopy can determine the sequence of intersecting lines created by laser prints toner and seal ink through empirical research. The study collected 110 varieties of seal ink and 1074 test pages from 66 models of laser printers available in the Chinese market. Based on the Raman spectral characteristics of the seal ink and the microscopic morphology of the toner, 13 types of seal ink and three types of laser printers were selected for further analysis, producing 78 representative samples of intersecting lines. Confocal Raman spectroscopy was applied to the examination of these samples using a point-scanning mode for enhanced accuracy and efficiency. The experimental results demonstrate that confocal Raman spectroscopy can non-destructively and quickly examine the sequence of intersecting lines produced by laser printer toner and seal ink. Variations in toner forms result in differing levels of difficulty in resolving intersection problems, with the sequence of intersecting lines from toner-dense laser printers being the easiest to ascertain. In contrast, those from printers with porous and dispersed toner present a more significant challenge in examination. This study can be corroborated with other methods proposed, and more significantly, it lays the groundwork for addressing intersection problems related to other printing or writing instruments.

Assessing moderated mediation effects influencing consumer acceptance of cell-cultured Meat: A PLS-SEM modeling approach

Cell-cultured meat, as a novel food, is often met with limited consumer understanding, leading to a predominantly conservative attitude and lower acceptance. To gain insights into the key factors influencing consumer acceptance of cell-cultured meat, this study constructs a moderated mediation model to examine the relationship between food techneophobia (FTN), food disgust sensitivity (FDS), and acceptance of cell-cultured meat. Moreover, we investigate the mediating effects of perceived benefits (PB) and perceived risk (PR), as well as the moderating effect of information acquisition (IA). A field survey was conducted in 2020 with 4,841 Chinese consumers in households. The data were analyzed using partial least squares structural equation modeling (PLS-SEM). The findings reveal that PB is the strongest positive influencing factor of acceptance. FTN has a better predictive effect on acceptance than FDS. Both FTN and FDS can reduce PB and increase PR, thereby lowering acceptance. Partial mediation of PB and PR between FTN and acceptance of cell-cultured meat is observed, while full mediation of PB and PR exists between FDS and acceptance. IA can mitigate the negative impact of FDS on PB, thereby enhancing consumer acceptance of cell-cultured meat. This study contributes to the current literature by employing PLS-SEM as an assessment model for examining direct and mediation relationships. Understanding the factors that shape consumers’ perceptions and influnce their acceptance is essential for effective forecasting and strategic decision-making in the novel food industry.

Domestic vs. Foreign Institutional Investors: Who Improves ESG and Value of Chinese Companies?

Recent years have seen the influence of both institutional investors and corporate social responsibility strengthen in the Chinese capital market. However, research on the impact of these market changes on corporate activities and values has been insufficient. To address this gap, this study analyzes the impact of foreign and domestic institutional investors who invest in Chinese A-share listed companies on corporate value through environmental, social, and governance (ESG) policies. The results of the analysis are as follows: First, the shareholding of both foreign institutional investors (FIIs) and domestic institutional investors (DIIs) enhances corporate value. Second, the shareholding of FIIs strengthens the company’s ESG, while that of DIIs does not significantly affect it. Third, ESG has a positive impact on corporate value. Fourth, ESG partially mediates the positive relationship between the shareholding of FIIs and corporate value. The research findings provide academic implications for the causal relationship between corporate governance, sustainable management, and performance, as well as practical implications for the development of the Chinese capital market and corporate sustainability.

How Sports Involvement and Brand Fit Influence the Effectiveness of Sports Sponsorship from the Perspective of Predictive Coding Theory: An Event-Related Potential (ERP)-Based Study.

Background/Objectives: With the rapid expansion of the global sports market, the significance of sports sponsorship has attracted growing attention. However, during the golden age of the sports industry's development in China, international sports brand giants such as Nike, Adidas, and Under Armour have rapidly captured a substantial share of the Chinese sports consumer market through their distinctive product designs and varied marketing strategies. This has resulted in a highly competitive environment for China's sports goods industry. Therefore, fostering the improved development of domestic sports brands has become a crucial issue deserving of thorough scholarly investigation. This study examines how consumers' differing levels of sports involvement and the degree of fit between the sponsoring brand and the sponsored event affect their cognitive and emotional responses to sports sponsorships. Methods: By employing Predictive Coding Theory and ERP (event-related potential) brainwave technology, this study delves into the psychological and neurobiological levels to analyze the impact of consumer sports involvement on the processing of sponsorship information. Results: The results indicate significant differences in cognitive and emotional responses between high-involvement and low-involvement consumers. Additionally, the fit between the sponsoring brand and the sponsored event also significantly affects consumers' cognitive and emotional responses. These differences stem from consumers' complex and sophisticated predictive coding models. Conclusions: This study not only provides scientific evidence for sports brands in selecting and executing sponsorship activities, but also offers new perspectives for evaluating and optimizing sponsorship effectiveness.

When echoes surpass voices: Market reaction to forwarded news

We examine the impacts of two types of news, forwarded news and novel news, on market reactions and investor attention in the Chinese stock market. Surprisingly, we find that forwarded news evokes a stronger market reaction than novel news. To understand this phenomenon, we investigate and find three mechanisms through which forwarded news influences investor behavior: filtering, verification, and amplification effects. The filtering effect shows that forwarded news, having been selected for resharing, contains information content that has persistent effects on stock return. The verification effect indicates that forwarded news, particularly following scandals involving news platforms, is perceived as more credible, thus eliciting a stronger market reaction. The amplification effect shows that the redistribution of news magnifies its reach and captures investor attention, leading to increased investor search and trading on the stocks. Moreover, the impact of forwarded news on investor attention is more pronounced for firms with greater information opacity. Our results show the distinctive roles of forwarded news and novel news in the financial market, highlighting the importance of considering the heterogeneity of news information.

Examining consumers’ willingness to pay premium price for organic food

This study examines the factors influencing organic food consumption and willingness to pay premium prices in the context of an emerging economy. The extended attitudinal behavior-scenario model, rooted in Signaling theory, served as the foundation for the proposed model. A convenience sample of 470 young Chinese consumers was collected through online and offline surveys. Partial least squares structural equation modeling was used to test the hypothesized relationships. The results reveal that consumers’ environmental concern, environmental values, value perception, price sensitivity, and green promotion significantly affect their attitudes toward organic food. In addition, consumers’ health consciousness, value perception, price sensitivity, and green promotion demonstrate significant positive effects on their intention to consume organic food. Moreover, consumer attitude toward organic food substantially influences their intention to consume it. Similarly, consumer attitude, intention, and green psychological benefits significantly affect their willingness to pay premium prices for organic food. In addition, the indirect effects of consumer attitude toward organic food and intention to consume in the relationship between the factors and willingness to pay premium prices provide interesting findings. This study offers valuable guidance for policymakers in developing appropriate strategies to expand the organic food market and provides a solid foundation for future research on organic food consumption. This study suggests that policymakers should concentrate on enhancing awareness and knowledge of organic food, promoting organic food production, and prioritizing campaigns that emphasize the exceptional health advantages of organic food to encourage greater consumption.

Only strong short-term contrarian effect exists in Chinese stock market: The role of the T+1 trading mechanism

We use an alternative sorting method which groups stocks into return intervals rather than percentiles to test the relationship between the T+1 trading mechanism and the short-term contrarian effect in the China's A-share market. Our sample period is from January 2010 to December 2020. China's stock market exhibits a significant contrarian effect in daily, weekly, and monthly frequencies, while the momentum effect is not significant. This paper argues that the special T+1 trading mechanism of China's stock market is the reason for this typical anomaly. The essence of the T+1 trading mechanism is a marketability put option, and this paper takes the volatility as the core of the analysis. This study shows that stock market volatility has a significant impact on the overnight return, with higher volatility leading to a higher discount. Through different daily, weekly, and monthly frequency groupings, the study finds that the winner's portfolio would reverse significantly in the next period. Under the T+1 mechanism, the high return stock portfolio is also characterized by high volatility and high turnover. The contrarian effect of China's stock market is unique in that both the winner's portfolio and the loser's portfolio will fall, but the winner's portfolio will fall more. The reversal of the winner's portfolio dominates in the entire market. The paper provides a new explanation for the contrarian effect and adds a unique explanation to the study of worldwide contrarian effect.

Relationship between consumer acceptance, sensory characteristics, and physicochemical characteristics of "Fuji" apples from different origins.

This study examines the acceptance of young Chinese consumers for different "Fuji" apples, focusing on their sensory characteristics and physicochemical foundations. The sensory attributes of the samples were evaluated using a combination of static descriptive analysis (DA) and temporal check-all-that-apply fading (TCATA-fading) methods. Furthermore, the volatile compounds, soluble sugars, organic acids, and textural parameters of the samples were analyzed. The findings revealed that participants favored apples that were perceived as "sweet," "crunchy," "juicy," and "aromatic." The results from the DA indicated that certain sensory attributes, such as "sweet," "vanilla," "honey," and "pear" positively influenced acceptance, while attributes like "sour," "hard," and "grass" had a negative impact. The findings from both the DA and TCATA-fading methods were consistent with each other. In terms of dynamic evaluation, sweetness, and sourness were the initial perceptions, followed by a range of other flavors. Notably, our data suggested that sweetness perception could be enhanced by attributes such as "honey" and "banana." Additionally, the sugar-acid ratio and specific volatile compounds, including hexanal, (E)-2-hexenal, β-damascenone, butyl acetate, and propyl 2-methylbutyrate, were found to influence the perception of sweetness in apples. PRACTICAL APPLICATION: This study helps to understand the effect of different origins on the acceptance of "Fuji" apples and to know the sensory and material basis for the emergence of such differences. It is beneficial for growers and marketers to improve 'Fuji' apples.

Towards the perfect soft-boiled chicken eggs: defining cooking conditions, quality criteria, and safety assessments

In recent years, ready-to-eat soft-boiled chicken eggs, with coagulated whites and semi-solid yolks have become popular among Chinese consumers due to their convenience, tender texture, and nutritional benefits. However, the standards for these products are currently inconsistent, and quality evaluation parameters and food safety issues remain unclear. Softness ratio, representing the semi-liquid yolk proportion in a cross-section, was defined through a survey of different brands of ready-to-eat soft-boiled chicken eggs. By accounting for egg weight and cooking time, optimal softness under specific conditions was determined. A quality evaluation method was established based on the softness ratio and shelling score. Finally, the safety of soft-boiled chicken eggs was assessed by measuring yolk center temperature. The optimal softness ratio was 0.46 to 0.64. Optimal cooking times in boiling water (100°C) with a 5:1 water-to-egg ratio were 300 s for 43 to 48 g eggs, 330 seconds for 48 to 53g, 350 s for 53 to 58 g, and 370 s for 58 to 63g. After cooking, eggs were cooled for 6 min in an ice water mixture with a 3:1 water-to-egg ratio. Shelling scores (0-5) depended on the egg white surface exposed post-shelling, peaking at an air cell diameter of 21.55 ± 2.26 mm. Egg weight and shelling score had a correlation of -0.41, while egg white springiness and shelling score had a correlation of 0.86. Ensuring core yolk pasteurization standards was difficult, thus stricter management or whole egg irradiation was suggested for safety.

The group behavior analysis of the high-frequency traders based on Mean Field Games approach

Abstract We present an approach to describe the group behavior of the high-frequency traders in the stock market based on Mean Field Games and optimal control theory. The problem is formalized as a system of coupled PDEs: Kolmogorov–Fokker–Planck, evolving forward in time with initial condition, and Hamilton–Jacobi–Bellman, evolving backwards in time with terminal condition. Under certain assumptions, the system of PDEs can be reduced to Riccati-type ODEs. We solve the inverse problem to describe the behavior of the high-frequency traders during the Chinese stock market crisis in 2015.

Species identification using PCR targeting specific region in cytochrome oxidase I gene for high-value fish product market in China

The Chinese market for high-value fish products suffers from a relatively serious mislabeling phenomenon. This study investigates the current status of products in China’s high-value fish market by collecting 508 online samples comprising seven processing techniques, with a focus on cod, salmon, and tuna, which hold relatively high market shares. A high-salt extraction method that exhibited the best overall performance was applied. Micro-DNA barcode identification traced the species of these products. Of the 508 samples, 201 (39.57 %) did not match their trade labels. Mislabeling was prevalent. There was a greater percentage of mislabeled surimi products (26.97 %) than frozen (0.99 %) or dried products (11.61 %). The likelihood of mislabeling increases with processing complexity. Mislabeling occurred predominantly among similar species of the same genus or purpose, and the phenomenon of substituting low-value meat for high-value fish was also observed. This study informs fish testing and sheds light on the current state of labeling compliance in the high-value fish product market.

Corporate environmental responsibility’s influence on risk-taking in Chinese A-share listed companies

PurposeThis study aims to investigate the relationship between corporate environmental responsibility (CER) and risk-taking in Chinese A-share listed companies from 2011 to 2020. It seeks to understand the influence of CER on risk-taking behavior and explore potential moderating factors.Design/methodology/approachA quantitative approach is used, using data from Chinese A-share listed companies over the specified period. Regression analysis is used to examine the relationship between CER and risk-taking, while considering moderating variables such as performance aspiration, environmental enrichment and contextual factors.FindingsThe findings indicate that CER positively influences corporate risk-taking, with significant impacts on information asymmetry and corporate reputation. Moreover, positive performance aspiration strengthens the effect of CER on risk-taking, while negative performance aspiration and environmental enrichment weaken this effect. Cross-sectional analysis shows that the positive association between CER and risk-taking is more prominent for firms located in areas with strict environmental regulation, for nonstate-owned firms, and for firms with higher levels of internal control.Originality/valueThis research contributes to the literature by providing insights into the dynamics between CER and risk-taking in the Chinese market context. It expands existing knowledge by considering the influence of performance aspiration on this relationship, offering practical implications for firms seeking to enhance corporate performance through strategic management of environmental responsibilities.

Bootstrap inference for linear time-varying coefficient models in locally stationary time series

Time-varying coefficient models can capture evolving relationships. However, constructing asymptotic confidence bands for coefficient curves in these models is challenging due to slow convergence rates and the presence of various nuisance parameters. A residual-based sieve bootstrap method has recently been proposed to address these issues. While it successfully produces confidence bands with accurate empirical coverage, its applicability is restricted to strictly stationary processes. We introduce a new bootstrap scheme, the local blockwise wild bootstrap (LBWB), that allows for locally stationary processes. The LBWB can replicate the distribution of the parameter estimates while automatically accounting for nuisance parameters. An extensive simulation study reveals the superior performance of the LBWB compared to various benchmark approaches. It also shows the potential applicability of the LBWB in broader scenarios, including time-varying cointegrating models. We then examine herding effects in the Chinese renewable energy market using the proposed methods. Our findings strongly support the presence of herding behaviors before 2016, aligning with earlier studies. However, contrary to previous research, we find no significant evidence of herding between around 2018 and 2021. Online supplementary materials are available for this article.