The third-party mobile payment transactions in China increased to 74.0 trillion yuan in the first quarter of 2021, a year-on-year increase of 39.1%, according to data from iResearch. iReserarch forecasts China’s third-party mobile payment market would reach 74.2 trillion yuan in the second quarter of 2021. China’s third-party mobile payment is mainly composed of three […]
7 Major Consumer Segments Shaping Chinese Market Landscape
China’s domestic consumer market has grown to a considerable size. However, there’s still much potential in it. China will offer a US$5 trillion consumption growth opportunity in the next decade, according to a latest research by the McKinsey Global Institute. Citizen’s incomes are increasing at a steady pace. China’s number of households with upper middle […]
China mobile internet users overview Q2 2021
The average number of installed mobile apps increased to 26.3 in Jun 2021 from 24.9 a year ago. Mobile internet monthly active users in China increased to 1.164 billion in June 2021, according to data from QuestMobile. 41% came from Tier-1, New Tier-1, and Tier-2 cities. Social networking, videos, and shopping have the highest mobile […]
Mini Program platforms 2021: WeChat vs. Alibaba vs. Baidu (Updated)
Mini Programs (MP) are light applications designed to run on top of a specific mobile app. Top technology companies in China have designed and run their own mini-program framework; and, the most popular ones include WeChat platform, Alibaba (Alipay platform; Taobao platform), Baidu Smart Program, and QuickApp. Lifestyle service is the most popular category on […]
WeChat Mini Programs Insights 2021
The number of monthly active users of WeChat Mini Programs has exceeded 863 million (as of December 2020) according to data from QuestMobile. On average, each WeChat user uses 5.6 mini programs in December 2020, up from 5.1 a year ago. The average time spent per user on WeChat Mini Programs increased by over 27% […]
Why are the Blind Box so attractive to many consumers in China?
A box is supposed to function as a storage tool. But in recent years, the “Blind Box” has gained its popularity in China. Benefiting from this trend, a Beijing-based toy maker Pop Mart raised $676 million in an initial public offering (IPO) at the end of 2020 which gave the company a valuation of $7 […]
Report: China growth AI companies overview
China’s artificial intelligence (AI) market will reach 205.8 billion yuan (US$31.74 bn) in 2021, with a growth rate of 30%, and exceed 500 billion yuan by 2025, according to a report jointly published by Intel and Deloitte. There are about 5,015 AI-related enterprises in China, including 4484 growth AI enterprises, accounting for about 90% of […]
China cross-border shopper insights 2021
Since 2016, the proportion of China’s middle-class population in the total population has increased steadily. At the same time, the scale of China’s cross-border e-commerce users has maintained a high range. With the rise of China’s middle class and its promotion of consumption upgrading, China’s cross-border e-commerce demand will face great development potential in the […]
Secrets of Pinduoduo’s low-cost user acquisitions
Pinduoduo, China’s largest social e-commerce platform, is well known for its aggressive pricing as well as questionable product quality. Let’s take a look at how Pinduoduo achieved low-cost user acquisition utilizing social power. Cici received a link from her sister on WeChat, requesting her to click on it so that her sister could obtain cash […]
Tmall Global cross-border e-commerce insights 2021
The number of brands and merchants on the Tmall Global platform as of December 31, 2020, grew over 60% year-over-year, according to Alibaba’s announced financial results. Merchants Growth on Tmall Global From 2017 to 2020, the number of online businesses on Tmall global grew rapidly, with an average annual compound growth rate of 55.2% In […]
China online retail market overview 2021
In 2020, China’s online retail sales reached 11.76 trillion yuan (US$1.82 trillion), with a year-on-year growth of 10.9%. The online retail sales of physical goods reached 9.76 trillion yuan, with a year-on-year growth of 14.8%, accounting for nearly a quarter of the total retail sales of consumer goods. The eastern region accounted for 84.5% of […]
New product online consumption trends in China
More than 60% of brands choose to launch new products online during the past one year, and most choose Tmall, according to a joint report by Yicai and Alibaba. According to the data of the report, in recent years, the total number of new products on the Tmall platform has doubled year by year, and […]
Forbes China: best companies to work for in 2021
Forbes China and Russell Reynolds Associates jointly released the Best Employers 2021 ranking.
Profile of Didi, China’s ride-hailing giant
Didi is the world’s largest mobility technology platform. It has been strategically building four key components of its platform that work together to improve the consumer experience: shared mobility, auto solutions, electric mobility, and autonomous driving. Didi (company name Xiaoju Kuaizhi Inc) started its mobility business in China in 2012. It has become the world’s […]
Top AI companies and platforms in China
China’s AI public cloud service market reached 2.41 billion yuan (US$370 million), accounting for 10.4% of the overall AI software market. IDC estimates that by 2025, the proportion of public cloud services in China’s AI software market will reach 36.1%. China’s AI software market reached 23.09 billion yuan in 2020, about 60% of the US […]