The government wants you to get out of the house a bit

Government to promote outdoor sports: On Monday, the General Administration of Sport of China and several other departments released a new plan to increase the scale of the outdoor sports industry to 3 trillion yuan ($415.25 billion) by 2025, including by opening up facilities for outdoor sports in forests, grasslands, deserts, lakes, and coastal areas.

Inflation up, PPI down: The National Bureau of Statistics reported today that China’s Consumer Price Index (CPI) in October increased by 2.1% year-on-year, a small drop of 1.8 percentage points from September. The Producer Price Index (PPI) of factory gate prices decreased by 1.3% year-on-year, the first negative growth since December 2020.

Gap offloads China operation: After closing several of its China stories earlier this year, U.S. fashion brand Gap yesterday sold its business in China to ecommerce service provider Baozun 上海宝尊电子商务 for 290 million yuan ($40 million). Baozun has been a partner of Gap since 2018.

BYD launches new high-end brand: Yesterday, BYD Auto 比亚迪汽车 announced that it’s new high-end electric vehicle (EV) brand will be called Yángwāng 仰望, which means “look up.” The first model of the new brand, probably an off-road vehicle, will ship later this year.