Zhang Xin’s and Pan Shiyi’s five-part strategy—build a successful business in China, list it on a global exchange, pay out billions of dollars in dividends, set up a family office abroad and buy up foreign real estate—means their fortune is...
Retailers discounted generously on Black Friday and Cyber Monday this year in an effort to clear excess inventory and lure consumers who are increasingly strained by inflation. Those efforts drove foot traffic up.