The “emotional economy” has become one of China’s hottest buzzwords in 2025, as young people gravitate toward products that offer comfort and self-expression, such as designer toys. Thrift- and sustainability-minded consumers are also driving a booming secondhand market, while the next generation of factory owners steps into leadership within family businesses. Our cover stories explore how these young consumers and manufacturers are reshaping China’s market.

Our feature stories take us northeast to Harbin, where Ice-Snow World has grown into the world’s largest ice festival, and south to a historical Zhejiang village hosting China’s first translator residency program. We also visit Milan’s Chinatown to see how young Italian-Chinese entrepreneurs are transforming the community, and head to Qingtian, Zhejiang—the hometown of much of Europe’s Chinese diaspora—to explore how the migration has shaped the small town.

Find more on the appeal of all-female opera, AI in filmmaking, and the latest developments in micro-drama. Enjoy reading!