16 | Monday, March 25, 2019 HONG KONG EDITION | CHINA DAILY BUSINESS Trade plaza Stress­busters near the US border may in demand as shape future

HOUSTON — Laredo, a major inland port on the US border with life gets hectic Mexico, continues to be in the spot­ light of trading activity between China and the United States as Sales of anti­hair loss products, sleeping plans move forward to build a mul­ pills and aids show market revival timillion­dollar free trade center near the city’s downtown. Local company Laredo Lomas By ZHU WENQIAN and Jiangsu provinces. Properties and a Houston­based [email protected] Online searches for hair care and investor of Chinese origin recently hair growth products fluctuate signed a joint development agree­ Chinese born in the 1990s, long through the year. In March, they ment that will convert an aban­ troubled by hectic lifestyles tend to rise a bit; in August, they doned seven­floor hospital building marked by working till late, heavy tend to surge, and peak in Novem­ that’s fallen into disrepair and been workload and career­related pres­ ber, the report found. fenced off for nearly 20 years into sures, have a new problem to deal Last year, sales of anti­hair loss Diners at a Japanese restaurant in Shanghai enjoy food and beverages. WANG GANG / FOR CHINA DAILY the World Free Trade Plaza of Amer­ with: hair loss. products on Tmall, Alibaba’s e­com­ ica Inc. But certain manufacturers are merce platform for established The deal to convert the old Mercy sensing a big business opportunity brands, soared 100 percent, accord­ Hospital Building into a multifunc­ as products that promise to cure or ing to Tmall. tion commercial center of show­ prevent hair loss are seeing some­ For instance, Hairmax, a high­ Japanese cuisine tickles taste rooms, office, hotel and warehouse thing of a revival. tech comb that boosts hair growth space will cost at least $50 million Last year, among consumers who through use of laser beams, was and take around a year to finish, bought hair care and hair growth launched last year. It proved to be according to Gao Long, the Houston products on e­commerce platforms one of the best­selling items during buds, spins money in China investor. of Alibaba Group Holding Ltd, 36 the Singles Day shopping festival on In addition to drawing up plans percent were born after 1990, and Nov 11. An anti­hair loss shampoo for the renovation of the building, more than 38 percent were born made in France, priced 888 yuan By LIU YUKUN boom in high­end Japanese res­ the team is in the process of apply­ between 1980 and 1990. ($132.50), sold out fast. [email protected] 40,800 taurants, with more being set up ing for parts of the building to be Middle­aged and senior consum­ In addition, sales and marketing in central business districts of cit­ designated as a free trade zone, ers showed lower­than­expected efforts of hair transplant special­ Japanese cuisine is such a rage number of Japanese ies, according to a Qdaily report. allowing companies to bring goods restaurants on the Chinese demand for hair care products, ists have deepened concerns of among Chinese consumers these mainland at the end of 2017 But only a decade ago, cheaper into the zone without duties. according to a report by AliHealth, consumers troubled by hair loss. days that some of them are willing Japanese quick service restau­ The center, once completed, the health and medicine unit of Ali­ From 2016 to 2017, firms specializ­ to spend more than 1,000 yuan rants such as Pepper Lunch and would provide a venue to showcase baba Group. ing in hair transplants saw an aver­ ($149.70) for a lunch/dinner com­ makes the business profitable. Yoshinoya were more commonly products such as food, electronics, “With steady income growth of age annual sales growth of over 100 prising super­fresh authentic Only a decade ago, Japanese cui­ seen all over city street corners in clothes from abroad, serving as a young Chinese, more people are percent. ingredients, including six­piece sine, which costs relatively higher China. platform for sellers and buyers. paying attention to the quality of Beijing­based Yonghe Hair Trans­ sashimi, or raw fish, specially than many other foods, was much Today, traditional Japanese Once dismissed by some as noth­ products, and they are willing to plant has 33 outlets nationwide. Its imported from Japan. less popular among Chinese con­ restaurants with new concepts, ing more than a small border city in spend money on products that can advertisements mark broadcasts of Small wonder, Japanese restau­ sumers.” different decoration styles, cul­ the US state of Texas, Laredo is now help improve appearances,” said popular TV series in China, and rants are mushrooming on the Feng Enyuan, deputy head of tural themes, and innovative a busy international trading center Neil Wang, president of consultancy adorn walls of several subway sta­ Chinese mainland to ride con­ the China Cuisine Association, menus are more common, Bai with the world. Frost & Sullivan in China. tions. sumer demand. said changing Chinese consum­ said. Tens of thousands of trucks cross “Fueled by the promotions featur­ “With the development of hair Their number surged from ers’ lifestyles also contributed to Noriko Shinohara, 29, who the border on a daily basis, carrying ing film stars and internet celebri­ transplant and hair care technolo­ about 10,600 in the beginning of the trend. operates a three­branch restau­ billions of dollars worth of goods. ties online, young consumers are gies, and amid growing anxiety of 2017 to 40,800 at the end of the “A growing number of Chinese rant chain under two brands in Laredo owns the busiest inland increasingly seeking ways to appear consumers suffering hair loss, stra­ year, according to data from the consumers prefer light meals like Beijing’s posh lifestyle zone Sanli­ port along the US southern border, more beautiful. Losing hair is some­ tegic marketing is helping hair Japanese External Trade Organi­ salads that are healthy. Many Chi­ tun, will open her fourth venture which is also the second busiest port thing they can’t stand. Expenditure transplant agencies to post continu­ zation, which is known as JETRO. nese consumers associate Japa­ — an izakaya — next month. overall in the country, trailing only toward better looks reflects the ous growth,” Wang said. Data from Japan’s Ministry of nese cuisine with good health,” Her existing three restaurants the Port of Los Angeles, California. ongoing consumption upgrade Stress­inducing lifestyles are cre­ Agriculture, Forestry and Fisheries said Feng. are popular among youngsters as China is the city’s second­largest trend in China,” he said. ating demand for other kinds of showed that among the 31,000 “Foods like sushi are getting she fuses traditional Italian/Mexi­ trading partner, with neighboring Besides, on social media plat­ products as well. A large number of Japanese restaurants opened out­ increasingly popular among both can food styles with post­modern Mexico the first. China’s trade vol­ forms such as Weibo and Little Red young Chinese consumers reported­ side of Japan from 2015 to 2017, young and senior people as they elements. ume with Laredo increased 5.23 per­ Book, a Chinese online platform to ly suffer from insomnia. About 75 half of them were in China. are less oily and contain more On top of that, her planned new cent to $4.02 billion in 2017. share lifestyle tips, a large number percent of those born after 1990 According to Qdaily, a news healthful ingredients.” restaurant will offer diners interi­ “We believe the market is ready of internet celebrities and makeup have a habit of staying up late. Inad­ website, Japanese restaurants in Although the overall number of or decor novelties like steep­ for this kind of infrastructure in bloggers recommend or discuss equate sleep makes them use medi­ China reported total revenue of Japanese restaurants in China is sloped rooftops with spectacular Laredo, connecting not only the products (like hair line powder and cine like sleeping pills, like in the 161 billion yuan in 2016, taking the booming, growth has been slowing views, and posters of anime char­ existing trade between the United post­natal hair recovery oil) they United States. fourth place in newly­added num­ in first­tier cities in recent years. acters that trigger childhood States and Latin American coun­ think are good or useful. There, the incidence rate of insom­ bers, and outperforming even In contrast, China’s second­ and memories. tries, but also bringing in wholesale “Internet celebrities and some nia is around 32 percent to 50 per­ domestic Cantonese and Jiangzhe third­tier cities have seen rapid “Today, young people like me goods from all over the world, KOLs (key opinion leaders) share cent, and the sleeping economy has (Jiangsu and Zhejiang provinces) expansion of Japanese restau­ are really into some cool and nov­ including China,” said Sunny Zhang, user experiences and give good rat­ created businesses worth tens of bil­ cuisines, which figure among the rants, according to JETRO. el experiences, and I want to cre­ president of Z LAB USA LLC, the ings for some niche products, so lions of dollars. most popular Chinese food. “Not just Japanese restaurants, ate that experience for our Houston­based global marketing consumers get to know them, and In China, the incidence rate of JETRO said a rising number of a majority of restaurants opened customers while serving tradi­ firm that conducted a feasibility young consumers tend to consider insomnia is around 38 percent, and Chinese travelers to Japan enjoy in China are switching their focus tional authentic Japanese food,” analysis and investment report for such recommendations. But prod­ the market size of sleeping pills and local cuisine, and crave for more from first­tier city consumers to Shinohara said. the Laredo free trade plaza project. uct quality and personal preferen­ sleep aids has exceeded 250 billion back home. those in second or third­tier cities Consumers such as Alex Cui Laredo Mayor Pete Saenz, an ces ultimately influence consumer yuan, according to Frost & Sullivan “With more Chinese people as there is higher demand there,” welcome that approach. “I visit enthusiastic supporter of expanding decision whether or not to buy a data. visiting Japan, this is creating said Feng. the exiting branches of izakaya trade between the United States and product,” Wang said. In the next few years, demand will more business opportunities,” “Demand for international cui­ very often because their environ­ China, said it is an “honor” to have The Alibaba report stated that grow, and the market for sleeping said Bai Wei, a columnist special­ sine like Japanese food is rising in ment is good for chats or business Chinese investors showing so much among people who searched aids and medicine will likely emerge ized in cuisine with JinriToutiao second or third­tier cities as many talks. I’d certainly visit such res­ interest in the border city. online using the keywords “hair as an important sub­category of the and Tencent, and also a member young people who used to work in taurants offering new concepts “When people want to invest loss”, nearly 80 percent were male sector that makes sleep­related of the World Federation of Chi­ first­tier cities in the past are now for the sake of fun and to enjoy money and capital, we all realize consumers. The largest number products. The sub­category is fore­ nese Catering Industry. back in their hometowns, and look their sense of novelty.” that there’s always a risk in business, of buyers of hair care products seen to continue to expand, Frost & “Also, Chinese consumers’ to continue their old food habits.” and they’re still willing to place their came from Guangdong, Zhejiang, Sullivan data showed. increasing spending power Recent years have also seen a Xinhua contributed to the story. dreams in our city. We’re so grateful for that,” Saenz said. “There’s a willingness also to fur­ ther develop this relationship (between the United States and Chi­ Investors hail Foreign Investment Law na) that we’re just beginning with,” he said of the deal, adding he was BEIJING — China’s new Foreign think the law will create a level hoping to have “more Chinese Investment Law will take effect on playing field where everyone can investment in our city”. Jan 1, 2020. participate,” said Harley Seyedin, If you’re a foreign “With this plaza and signing with An overwhelming majority of president of the American Cham­ our Chinese friends, this is really nearly 3,000 lawmakers or depu­ ber of Commerce in South China. investor, and you’re going to be a portal for global trade on ties voted in favor of the new law on With unified provisions for the going to read a law a whole different level,” Olivia Varela, March 15. entry, promotion, protection, and president and CEO of the Laredo Eco­ Foreign investors welcomed the management of foreign invest­ about China, nomic Development Cooperation, new law, and said they believe it ment, it is “a new and fundamental probably the first one said of the trade plaza deal. will further improve the country’s law” for China’s foreign investment Saenz, Laredo’s mayor since 2014, business environment. and an innovative improvement of you’re going to read is has long been enthusiastically The draft law was submitted to China’s foreign investment legal the Foreign pitching his city of 250,000 resi­ China’s national legislative session system. dents as an international trading for a third reading during its annu­ The new law stresses more Investment Law.” center with China. al sitting this month. It was deliber­ investment promotion and protec­ Adam Dunnett, secretary­ Both Saenz and Varela expressed ated by lawmakers and discussed tion than the three previous laws, a general of the EU Chamber of optimism of improving trade rela­ by political advisers over several positive signal for foreign firms in Commerce in China tions between China and the US, days. China, said Ma Zheng, vice­presi­ A Volkswagen employee works on an assembly line in Urumqi, hoping the two countries will ease The law aims to improve the dent of the China subsidiary of the with the accumulated foreign capital of the Xinjiang Uygur autonomous region. their trade tension. They shared the transparency of foreign investment agricultural commodities trader direct investment exceeding $2.1 ZHU XINGXIN / CHINA DAILY view that local projects, like the free policies and ensures that foreign­ Cargill. trillion. trade center, will help strengthen invested enterprises participate in Ma believes the new law would China advanced to a global opment and Reform Commission. “It will give more people confi­ the trade ties between the world’s market competition on an equal provide stronger legal guarantees ranking of 46 in terms of ease of The new law will boost foreign dence in China,” said Adam Dun­ two economic giants. basis. for foreign investors and compa­ doing business last year, up from investors’ confidence in China nett, secretary­general of the EU “These kinds of partnerships that Stephan Kothrade, president of nies to safeguard their interests. 78 in 2017, according to a World since their rights and interests will Chamber of Commerce in China. we’re doing here locally have a much Asia­Pacific operations of German “It’s going to make China’s business Bank Group report released last be legally protected, said Cai Hua, a “If you’re a foreign investor, and bigger impact globally and are very chemicals giant BASF, said the environment more open, equitable year. national legislator and director of you’re going to read a law about significant,” Varela said. “And these company welcomes the law, with and transparent for foreign firms,” “This shows the constant Wisely Law Office in Tianjin. China, probably the first one you’re kinds of opportunities will resonate the belief that it will help effectively he said. improvement in our business envi­ “A country with a relatively com­ going to read is the Foreign Invest­ not only on our community level, address issues foreign investors By the end of 2018, about ronment, and greater progress plete legal system will be an ideal ment Law.” but also abroad.” face in China. 960,000 foreign­invested enter­ might be made this year,” said He destination for foreign invest­ “Foreign companies in China prises had been set up in China, Lifeng, head of the National Devel­ ment,” Cai said. XINHUA XINHUA