RSVP Now: Baiguan China Tour – Itinerary Released (Oct 26–29)

2025 China Consumer & Tech Discovery Tour

At Baiguan, we’re committed to helping global investors and business leaders uncover real opportunities in China through on-the-ground, contextualized, and data-driven insights.

But reading about China’s opportunities is one thing—experiencing them first-hand is another.

We believe that the best way to deepen your strategic understanding of China is to come and see it for yourself. Meet the founders and operators of tomorrow’s Pop Mart and Deepseek. Hear directly from the companies shaping China’s next growth cycle.

That’s why we’re planning to organize an exclusive, small-cohort China Business Excursion in October this year.

After gathering feedback from everyone who showed interest, we’re excited to share the itinerary. This year’s tour will take place October 26–29 in Shanghai and Hangzhou, focusing on China’s consumer and tech sectors.

👉 View the itinerary here: http://bit.ly/40CGrmC

or scroll to the end of this email to view it

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If you’d like to join, please RSVP by filling out the Google Form linked below. There’s no obligation to commit yet—we’re trying to gauge strong interest in attending this itinerary.

The dates and cities for the Baiguan China Tour are now confirmed. We will be sharing additional details—including how to submit payment, pickup locations, a more detailed daily itinerary, the finalized schedule, and the list of confirmed guests—by late-August.

Logistical details such as payment and transportation will only be shared with those who register.

In the meantime, feel free to reach out with any questions or concerns!

👉 RSVP here: https://forms.gle/KzjVCxsc4EE1m4cG6

We also want to co-create this experience with you. In the form, you can:

• There are several company and site visit options available, and we’d appreciate your input on which you find most interesting.

• Share any additional feedback or questions you may have

We realize the dates and company lineup might not work for everyone. We wanted to create a focused theme to offer a deep, meaningful experience. Don’t worry—this is our inaugural tour; future tours will have more dates available and explore different industries and companies that may better suit your interests!

Looking forward to hearing from you.

Best,

Amber

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Full itinerary below

Discover the Real China: 2025 China Consumer & Tech Discovery Tour

Theme: New Brands, New Tech

Duration: 4 Days

Dates: Oct 26 - 29, 2025

Cities: Shanghai & Hangzhou

Price： 4280$ / person (accommodations and flights NOT included)

Why is this tour different?

The dominant narrative in global media is that China is facing deflation and deep structural challenges—and long gone are the days when every sector posted double-digit growth. In this new phase of the Chinese economy, identifying structural investment opportunities requires a sharper lens and a deeper presence on the ground.

While the macro picture feels uncertain, specific sectors are thriving—driven by generational shifts in behavior, demand for domestic cultural identity, and a new wave of tech innovation. But these are not always the trends you’ll find in boardrooms or equity research reports.

To understand where China’s next Pop Mart or DeepSeek may emerge, you need to look where young people live, spend, and create:

• What does it mean when Gen Z favors a smart hotel chain over a five-star resort?

• How is Douyin (TikTok China) shaping commerce in ways the West has never seen?

• Why are livestreaming warehouses and local creative markets outperforming traditional malls?

This tour takes you beyond glossy surfaces. You’ll meet both listed and pre-IPO companies, dine with local founders and investors, and visit the spaces—both digital and physical—where real consumer behavior takes shape.

If your investment thesis depends on understanding where China is going, not where it was, this trip is for you.

*We will provide a more detailed list of tips and recommendations on transportation, accommodations, and dining options as the dates approach.

🗓️ Itinerary Overview

Day 1 Shanghai: Understanding the Daily Life of China’s Young Consumers

Theme: How a typical urban professional in their 20s–30s works, eats, and shops in 2025 China

• Morning: ByteDance – Douyin E-Commerce Division We begin with a visit to ByteDance’s Douyin e-commerce division, where content, commerce, and AI recommendation intersect. Douyin has become a dominant force not just in entertainment but in shaping how products are discovered and bought in today's China. This visit will focus on understanding how short-form video and livestreaming drive consumer behavior differently than traditional e-commerce models, and what that means for brand-building and distribution in today’s China.

• Lunch: Super Bowl (超级碗)

  Chinese urban workers’ go-to lunch spots for Chinese-style clean eating. Lunch is at Super Bowl, a healthy fast-casual chain popular among China's young office workers. The menu blends localized “clean eating” with Chinese flavors—grain bowls, lean proteins, and app-based ordering. It reflects how health awareness is evolving among younger consumers and how that translates into scalable restaurant concepts.

  Optional: join a private conversation with the investor who has backed several successful consumer startups, including the Super Bowl, and will share observations on what’s changing in China’s demand landscape.

• Afternoon Option 1: Dewu (得物) - China's emerging “secondhand economy”

  China’s Gen Z hub for secondhand fashion and collectibles.

  Dewu started as a sneaker and streetwear resale app, but has grown into the go-to marketplace for China’s secondhand economy. For young consumers, it’s not just about price—trading secondhand has become a lifestyle rooted in identity, community, and discovery. Dewu also plays a key role in the rise of resale entrepreneurship, enabling thousands of young Chinese to run small businesses. Beyond fashion, high-demand items like Pop Mart toys often sell at steep markups. In 2021, GMV hit RMB 80 billion.

  Afternoon Option 2: Guoquan (锅圈 2517.HK) - China’s emerging “ready-to-eat meals” sector

  The franchise transforming hotpot from dine-out to ready-to-cook.

  Guoquan has reinvented hotpot for home consumption. Through a standardized supply chain and a dense neighborhood store network, it brings restaurant-quality hotpot ingredients directly to consumers—tapping into the booming “lazy economy” and the "fast-growing “ready-to-eat meals” trend. While ready-to-eat meals already dominate in markets like Japan and US (~60%+ penetration), China is still catching up. But as younger consumers prioritize convenience, fun, and affordability, could Guoquan lead China’s ready-to-eat meals boom?

Evening: Private Family Office & Founder Dinner A small, off-the-record English-friendly dinner featuring consumer-brand founders and second-gen investors. Exchange perspectives on brand-building, distribution challenges, and capital trends.

Transport: Private coach transfer to Hangzhou (~2.5 hrs)

Accommodation (on your own) Instead of staying at a 5-star hotel, we recommend Atour Hotel (亚朵 NASDAQ: ATAT)— a lifestyle brand loved by young Chinese consumers. Known for its robot room service, smart rooms, and modern design, Atour is also one of the few hotel chains in China to go public. It has expanded into home goods like pillows, becoming a popular consumer brand beyond hospitality.

Day 2 Hangzhou: Digital Culture and Entertainment in Transition

Theme: How content, entertainment, and commerce intersect in a rapidly evolving consumer landscape

• Morning Option 1: Livestreaming Studio Visit We will visit a livestreaming studio. Livestreaming remains one of the most influential retail formats in China, combining product discovery, trust-based marketing, and real-time conversion. This visit offers a look into how consumer engagement is being redefined, especially among younger demographics, and what new technologies such as AI-powered content or digital avatar are being used to scale creator-led commerce.

  Morning Option 2: Short-form Drama Studio Visit

  Visit a studio behind China’s booming short-form dramas—bite-sized, mobile-first shows under 10 minutes per episode. This format has become a new engine for content monetization, driving traffic, IP sales, and e-commerce. Some top hits are even going global, especially in Southeast Asia.

• Lunch: Investor & Consumer Brands Roundtable We’ll host a closed-door lunch with representatives from leading consumer brands and investment firms, including companies like Proya (珀莱雅 603605.SH), Adopt a Cow (认养一头牛), and others in the Jiangsu-Zhejiang area. Discussion topics will include brand resilience in a slower macro environment, strategies for second- and third-tier city penetration, and balancing domestic growth with overseas expansion.

• Afternoon: Game Studio Visit We will visit a Chinese game studio producing titles on the level of Black Myth: Wukong to understand how domestic developers are building culturally resonant IP with global ambitions. This visit offers a window into the evolution of China’s gaming sector—from visual storytelling and design language to monetization strategies and international expansion.

• Evening: self-arranged dinner

Day 3 Hangzhou: "Guochao Rising" - Culture, Identity & Global Ambition

Theme: Explore how Chinese brands fuse heritage, pride, and innovation to win at home and go global.

• Morning Option 1: Proya Cosmetics (603605.SH) Visit Proya is one of China’s best examples of domestic beauty and skincare brands successfully shedding the “cheap” and “low quality” stereotypes. It leads China’s effort to localize and upgrade the cosmetics industry through strong R&D, effective digital marketing, and culturally resonant products that compete with global giants.

  Morning Option 2: JNBY Group (3306.HK) Visit JNBY combines avant-garde fashion with subtle Chinese design elements, capturing loyal followers at home and abroad. The brand reflects the rise of “Guochao” (national trend) brands that balance innovation with cultural identity.

• Lunch: self-arranged

• Afternoon Option 1: "自然造物Made in Natures" Cultural Studio & Marketplace The marketplace brings together some of China’s best original “Guochao” — cultural products that embody “Chinese chic” or heritage fashion — all in one space. It offers two key insights: how cultural IP is commercialized (what could produce the next Laopu Gold), and how China’s younger generation embraces a meaningful, “anti-involution” lifestyle. The founder, store manager, and staff are all non-elite graduates who have chosen purposeful work over relentless competition.

• Afternoon Option 2: Liangzhu Jade Bird Marketplace Located near the UNESCO Liangzhu ruins, this complex hosts creative workshops, retail, dining, events, and markets—a new offline consumption format replacing aging shopping malls in China. It represents China’s current popular experiential consumption model blending culture and commerce.

• Evening: Private Family Office & Founder Dinner A small, off-the-record English-friendly dinner featuring consumer-brand founders and second-gen investors. Exchange perspectives on brand-building, distribution challenges, and capital trends.

Day 4 Hangzhou: Tech Frontiers: AI & AR glasses

Theme: Exploring China’s AI innovation and consumer tech products

• Morning: Alibaba AI Visit Alibaba’s AI Labs to learn about their cutting-edge AI developments, including China’s leading large language model, Qwen, which uniquely integrates AI capabilities directly with e-commerce operations. Gain insights into how Alibaba’s foundational research supports commerce, logistics, and cloud services, and understand where China is innovating or diverging in the AI landscape.

• Lunch: self-arranged

• Afternoon: Rokid Visit - rising rival to Apple’s Vision Pro Visit Rokid, a leading Chinese startup in AR glasses and spatial computing—and a rising rival to Apple’s Vision Pro. Experience hands-on demos of their latest technology and discuss applications across industrial, consumer, and entertainment sectors. This visit sheds light on the unique opportunities and challenges faced by AI and AR hardware and software innovators in China’s vast market.