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 […]
China installed 140,500 new industrial robots in 2019
Asia remains the strongest market for industrial robots and China rose by 21% and reached about 783,000 units in 2019, according to World Robotics 2020 Industrial Robots report by International Federation of Robotics (IFR).
Alibaba opening its first Costco competitor store in Shanghai in Oct
Alibaba is launching Hema x Member on the coming National Day 1 October 2020 in Shanghai, the first domestic funded warehousing membership retail brand in China. The first Hema x Member store will be officially opened on October 1st on the B1 floor of Senlan commercial center in Pudong, Shanghai, covering an area of 18,000 […]
China’s digital signage market to reach CAGR of 18.5% 2020-2024
China’s digital signage market is expected to reach 9.614 million units in 2020 and year-on-year growth of 19.8% in 2021. The compound growth rate of the digital signage market in the next five years will reach 18.5%. In the past years, due to the complexity of product specifications of digital signs, users’ understanding of the […]
Meet China’s blue-collar mobile users
The monthly active mobile users of China’s blue-collar population has more than doubled from July 2016 to July 2020, from 15.48 million to 33.79 million, with an average annual growth of 21.5%. In the first and second-tier cities, the blue-collar is very active. However, the third and lower-tier cities also have great growth potential. The […]
Live streaming e-commerce to account for over 20% of China’s online shopping GMV by 2022
With its first appearance in 2016, e-commerce live streaming has been in explosive development period since 2019. Its GMV in 2019 reached 451.29 billion yuan, increasing by 200.4% YoY and accounting for 4.5% of the overall online shopping market in China. With a huge room for growth, it is expected to maintain a high growth […]
SAIC Volkswagenn, Nio lead in New Energy Vehicle Quality in China
SAIC Volkswagen ranks highest in NEV new-vehicle quality among all brands in the PHEV segment in China, followed by BMW, while NIO ranks highest among all brands in the BEV segment, followed by Tesla, according to a JD Power report. As the New Energy Vehicle (NEV) market in China gets in the fast lane, the […]
Alibaba unveils New Manufacturing digital factory Xunxi
Alibaba Group revealed its New Manufacturing model for the first time with the unveiling of Xunxi Digital Factory (“Xunxi”) on 16 September 2020.