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Divorce Trends in China Spark New Business Opportunities for Entrepreneurs

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Wedding photographer Tan Mengmeng’s career once centered on capturing the joy of couples on their big day. However, as marriage rates in China continue to decline, Tan, like many others, is shifting focus to a growing trend: divorce. Official data shows a sharp decline in marriages, dropping from around 13 million in 2013 to under 7 million in 2022. Despite a slight recovery in 2023, the number of divorces continues to climb, with a 25% rise recorded last year.

The 28-year-old photographer from Henan province recognized the business potential after observing long lines at government offices handling separations. Since expanding her services to divorce photography, Tan has captured over 30 couples, immortalizing moments of both heartbreak and, in many cases, celebration. “Joy and sorrow are both worth recording,” she notes, pointing to the changing attitudes in China towards marriage and divorce.

For many years, Chinese society attached a strong stigma to divorce, with traditional values emphasizing family unity. However, younger generations now prioritize personal freedom, career development, and a willingness to end marriages that no longer bring happiness. This cultural shift has opened new business opportunities for photographers like Tan, who help couples commemorate the end of their relationships.

Other services have emerged alongside divorce photography. Companies now offer to ceremonially destroy wedding mementos, providing emotional closure for individuals looking to move on from their past. Liu Wei, who runs such a service in a factory outside Beijing, says his business has destroyed wedding photos for over 2,500 couples since 2021, with demand continuing to rise.

The increase in divorces reflects broader demographic challenges in China. An aging population, coupled with the legacy of the one-child policy, has led to fewer women of marriageable age. Additionally, high work pressure and living costs contribute to declining marriage rates. These factors, combined with changing social norms, suggest that the divorce market may continue to grow.

Tan remains optimistic about the future. She offers a unique incentive for couples who might reconcile, providing an 18% discount on new wedding photos if they remarry. As divorce rates rise, entrepreneurs like Tan are finding innovative ways to turn societal changes into profitable ventures.

 

China Overtakes U.S. in Nuclear Fusion Race with Major Investments and Breakthroughs

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As the world races to unlock the potential of nuclear fusion, China is emerging as a serious contender to overtake the U.S. in mastering this near-limitless form of clean energy. In Shanghai, the burgeoning tech hub that showcases China’s innovations in 6G internet and robotics, a small start-up called Energy Singularity is pushing the boundaries of nuclear fusion research.

For decades, the U.S. led the global effort to replicate nuclear fusion, the process that powers the sun, on Earth. But with China’s recent surge in investment and technological advancements, U.S. experts are increasingly worried about losing that edge. China’s government is currently outspending the U.S. on fusion energy research, with estimates suggesting Beijing invests between $1 billion to $1.5 billion annually, compared to the U.S. government’s $800 million.

Fusion is a difficult process to harness, but its potential is immense. A controlled fusion reaction could generate four million times more energy than burning fossil fuels, and four times more than nuclear fission, without producing long-lived radioactive waste. While fusion won’t be a near-term solution to climate change, it holds promise for addressing the world’s long-term energy needs.

China’s rapid progress is reflected in companies like Energy Singularity, which has built its own fusion reactor, known as a tokamak, in just three years—faster than any comparable machine to date. The start-up has also pioneered the use of advanced high-temperature superconducting magnets, which allow for smaller, more efficient reactors. Its ambitious timeline aims to prove commercial viability by 2027, with grid-ready fusion power by 2035.

Meanwhile, U.S. tokamaks are aging. Andrew Holland, CEO of the Fusion Industry Association, noted that American researchers now rely on machines in Japan and Europe for much of their work. In contrast, China’s state-of-the-art fusion park, CRAFT, is set to open next year, with no similar facility in the U.S.

China’s strategy includes leveraging American designs. According to Holland, several Chinese fusion reactors resemble U.S. designs from companies like Commonwealth Fusion Systems and Helion. This echoes previous patterns in other industries, where China has rapidly followed U.S. innovations and then dominated global supply chains, as seen with solar technology.

While China races ahead with tokamak technology, the U.S. is diversifying its approach. Last year, researchers at the Lawrence Livermore National Laboratory achieved a milestone using lasers to generate more energy from a fusion reaction than they put in. However, the tokamak remains the most advanced and well-researched fusion concept, and with China’s immense funding, it is evolving rapidly.

The stakes are high. Whichever country succeeds in taming nuclear fusion could reshape the global energy landscape. With China pouring over a billion dollars annually into fusion research, it may soon surpass the private investment driving U.S. innovation. If successful, China’s breakthroughs could redefine its role in global energy production, powering not only its iconic light shows but casting the country as a leader in the future of clean energy.

 

Tesla Rival Nio Slashes Price on New Onvo-Branded L60 SUV

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Nio, Tesla’s Chinese rival, has announced a price cut for its new Onvo-branded L60 SUV, intensifying competition in the electric vehicle market. The L60, Onvo’s first car, is now priced at 149,900 Chinese yuan ($21,210) when purchased with a battery subscription starting at 599 yuan per month (approximately $1,000 annually). Alternatively, buyers can opt for a model with both the car and the battery for 206,900 yuan. Deliveries are set to begin on September 28.

Nio’s shares briefly surged by more than 3.5% in U.S. trading after the L60’s price drop announcement. When the Onvo brand was first introduced in May, the L60 was priced at 219,900 yuan, already lower than Tesla’s Model Y, which sells for 249,900 yuan in China.

Nio CEO William Li, in an exclusive interview, hinted at plans to launch Onvo in Europe next year, although no specific timeline was provided. Li emphasized that Onvo is intended to target a different market segment than Nio’s premium vehicles, and he expects no significant overlap in customer bases. Li also noted that Nio’s deliveries have improved since the Onvo brand’s announcement, signaling the new brand’s potential to capture a broader audience.

China’s electric vehicle industry is fiercely competitive, with several companies aiming to challenge Tesla’s market share. Geely-backed Zeekr is set to launch its first midsize electric SUV, the Zeekr 7X, priced at 239,900 yuan, while Xpeng recently introduced its mass-market Mona brand, with the M03 electric coupe starting at 119,800 yuan. Tesla’s cheapest offering in China, the Model 3, costs 231,900 yuan, even after an April price cut.

Chinese electric car manufacturers have increasingly set their sights on expanding overseas, particularly in Europe. However, the European Union is on the verge of increasing tariffs on Chinese-made battery electric vehicles, which could further challenge these automakers. Nio is cooperating with the EU’s investigation into Chinese EV subsidies, and its vehicles will face a 20.8% duty, higher than the tariffs imposed on competitors Geely and BYD.

Nio plans to begin deliveries in the United Arab Emirates during the fourth quarter, according to Li, who shared these details during a recent earnings call. He acknowledged the challenges posed by Europe’s tariffs but noted that Nio is still committed to its existing markets and continues to build infrastructure, such as power swap stations, in Europe. Nio also opened its “Nio House” in Amsterdam earlier this year.

Li expects monthly deliveries of the L60 to reach 10,000 by December, with a goal of 20,000 per month by 2024. The company anticipates a 15% vehicle margin on the Onvo-branded cars and aims to have over 200 stores in China by the end of this year, with more than 100 already open. Additionally, Nio is preparing to launch its even lower-priced Firefly brand internationally next year.