Tencent proposed that the top two online gaming streaming platforms Douyu and Huya enter into a stock-for-stock merger, as a result of which Huya or its subsidiary would acquire each outstanding ordinary share of Douyu. Is China’s game live streaming market that lucrative? Let’s dig into some data. Game live streaming users dropped to 68.12 […]
China consumer spending outlook 2024; return to pre-covid19 level in 2021
Six out of ten Chinese urban consumers (56%) want to live a happy family life; 46% of Chinese pursue a healthy lifestyle. According to the survey of Mintel, 39 percent of Chinese urban consumers want to travel.
Double 11 2020: Alibaba Tmall, JD Singles’ Day sales exceeded US$116 billion
Jingdong (JD.com) total 11-day sales during Double 11 2020 grew by 32% YoY and reached 271.5 billion yuan (US$41.02 bn) in GMV. Tmall’s 11-day Singles’ Day sales reached 498.2 billion yuan (US$75.27 billion) with an increase of 26% YoY.
5 key trends shaping the Chinese economy, accelerated by COVID-19
In a recent report, McKinsey pointed out five key trends shaping China’s economy, being accelerated by COVID-19 has accelerated.
China online gaming users hit 540 million in 2020
China online gaming users have grown to about 540 million or 57.4% of total internet users in the first half of 2020. Mobile online games users reached 536 million or 57.5% of total mobile internet users. According to CNNIC, 25.8% of mobile apps in the Chinese market are games, the largest category by total number […]
Top 10 FinTech companies in China in 2020
Ant Group has become the most valuable financial technology enterprise in China with a value of 2.1 trillion yuan. Credit Suisse expects Ant’s revenue to grow at 34% CAGR from 2019-2022e with digital fintech services as the key driver.
Short video market trends in China for 2020 (updated)
Internet traffic driven by short videos has become the new battlefield for many players in China. Content marketing enabled by short videos and live streaming has become an integral part of brand marketing, communication, sales, and operation strategies. Take a look at China’s short-video market status and be aware of differences between the top 2 […]
Alibaba to transform BMW’s China business
BMW and Alibaba signed a Memorandum of Understanding (MoU) for a strategic partnership in Beijing this week.
China entertainment and media outlook 2020-2024E
Total entertainment and media revenue in China is expected to increase at a compound annual growth rates (CAGR) of 3.6% over the next five years, which is higher than the global average of 2.8%, according to the latest report by PwC. Digital revenues experienced a drop in 2020 but are expected to grow at 5.4% […]
Close to 80% of China internet users shop online in 2020
The number of online shopping users in China grew to 749.39 million, accounting for almost 80% of all internet users in China. Mobile shoppers grew to 746.96 million as of June 2020, representing about 80% of mobile internet users. China’s online shopping market saw a 6.8% growth YoY or 20.9% QoQ in the second quarter […]
China FinTech unicorn Ant Group’s gross profit exceeded US$10 billion in 2020
Ant Group, China’s fintech unicorn behind Alipay, announced that in the first three quarters of 2020, it realized 118.191 billion yuan of operating revenue, with a year-on-year increase of 42.56%.
Alibaba acquires controlling stake in Sun Art Retail Group with US$3.6 billion
Alibaba today announced it will invest approximately USD3.6 billion in respect of Sun Art Retail Group Limited (Sun Art), a leading hypermarket and supermarket operator in China, that will raise its aggregate direct and indirect stake to approximately 72% .
China’s economy in Q3; GDP grew 4.9%
China’s economic growth of the first three quarters shifted from negative to positive in Q3 2020.
China saw over 618M tourists, US$67B revenues in Golden Week holiday 2020
Netsunion reported a total number of 13.382 billion online payment transactions with a total value of 7.23 trillion yuan during the past eight-day Golden Week holiday in China from 1 October. The average daily transaction processed by Netsunion during this period increased by 47% over the same period last year. The transaction scale on China’s […]
China’s pets retail market to double by 2024
China’s pets retail market reached 108.8 billion yuan (US$16.02 billion) in 2019 and is estimated to grow by 13.6% and reach 123.6 billion yuan (US$18.20 bn) in 2020. It will exceed 222 billion yuan (US$32.69 bn) in 2024. The contribution of online sales will continue to grow and is estimated to reach 115.6 billion by […]