source :[1] China Loyalty Programs Market Intelligence Report 2025-2029 | Major Players Like Alibaba and Tencent Lead, While Regulatory Changes Offer Opportunities for Smaller Competitors (https://finance.yahoo.com/news/china-loyalty- ...)[2] China Loyalty Programs Market Intelligence Report 2025 | Gamification Targets Younger Consumers and Fosters Long-Term Brand Loyalty - Future Growth Dynamics to 2029 - ResearchAndMarkets.com - Business Wire (https://vertexaisearch.cloud.google.com/groun ...)[3] Regulatory Turbulence in Chinese Capital Markets: Implications for Foreign Investors (https://vertexaisearch.cloud.google.com/groun ...)