Chinese electric vehicle (EV) manufacturer XPeng hopes to raise up to $1.11 billion in its IPO in New York. It said on 21 August 2020 it intends to sell 85 million shares American depositary share (ADS), each representing two class A ordinary share, priced between $11 and $13 per share.
China saw over 30 billion mobile payment transactions in Q2 2020, up 27%
China’s central bank People’s Bank of China released the overall situation of payment system operation in the second quarter of 2020. The number of ATM cards issued in use nationwide was 8.658 billion, up 1.52% month on month. There are 6.18 bank cards per capita in China. In the second quarter, there were 30.141 billion […]
China summer consumer products sales overview in 2020
In July 2020, food (non-fresh) and non-alcoholic beverages, alcohol, fresh produce, sun protection, and cooling products have gotten more attention from consumers across the country, according to data shared by Jingdong. The southern provinces of Guangdong and Zhejiang saw alcohol transaction volume increase 60% YoY. In Hubei and Hebei, the transaction volume of food and […]
Top 10 AI Cities in China
The Intelligent Cities Index China by The University of Sydney provides a ranking of Chinese cities according to their activity in the emerging field of Artificial Intelligence. It provides a resource for decision-makers and stakeholders who want to gain a regional and geographic overview of AI activity in China.
Social video platform Joyy reported 21% revenue growth in Q2 2020
Social video platform Joyy reported 21% increase YoY in its global average mobile monthly active users, which reached 457.1 million and 91.0% come from markets outside of China.
Poll: 95% users will abandon iPhones if WeChat no longer supported
According to a survey of more than 1.2 million users participated, 95% of Chinese iPhone users will abandon Apple iPhone and use other brands of smartphones if WeChat is not supported.
Meet Xiaomi’s transparent smart TV: Mi TV LUX
Xiaomi unveiled its transparent smart TV, Mi TV LUX Transparent Edition, this week.
JD acquired China’s leading procurement platform for MRO products
JD MRO, JD.com’s B2B subsidiary for industrial maintenance, repair and operations (MRO) products and services, announced its acquisition of VIPMRO yesterday, China’s leading procurement platform for MRO products.
The secret recipe of TikTok e-commerce in China
Douyin (Chinese version of TikTok; referred as TikTok below) has a GMV target of 200 billion yuan for its live-streaming e-commerce channel in 2020 according to Chinese media 36Kr. In 2017, after the overnight success of TikTok, its parent company ByteDance immediately developed its e-commerce advertising system “Luban”, and officially integrated in June 2018 the […]
An overview of China EV market
While electric vehicles only accounted for 2.6% of global car sales last year, this is an all-time high for the industry. It’s been growing steadily at a rate of about 40% each year, so don’t count the EV market as a lost cause yet! China EV Industry Overview Since electric vehicles made their way on to the […]
Fortune: Top 500 Chinese Companies; Top 10 account for 40% total profit
Fortune China recently released the Fortune 500 list for 2020, which takes into account the performance and achievements of the world’s largest listed Chinese companies in the past year.
Burberry launched its first luxury social retail store, empowered by WeChat
Burberry launched its first luxury social retail store in Shenzhen on July 31 and Tencent provides technical support empowering “Retail store + social networking”. The WeChat Mini Program “Burberry Social Retail Store” integrates the online and offline store operations.
JD reached 15,000 home appliance stores in H1 2020; market share up to 29%
The number of JD Home Appliance Stores, Jingdong’s offline home appliance stores for lower-tier markets, has surpassed 15,000 in the first half of 2020. JD started building JD Home Appliance Stores in 2016. Now it has 15,000 stores serving 25,000 towns and 600,000 villages in China. During the 618 sale, sales at JD Home Appliance […]
Alibaba B2B platform GMV up 80% in the first half of 2020
Alibaba Group’ international B2B platform Alibaba.com transacted 80% more in the first half of 2020 compared with a year earlier. Orders placed on Alibaba.com nearly doubled (+98%) in the six months ended June 2020 while the number of paying buyers increased by 60%, according to data Alibaba.com released last week. Transactions surged as the coronavirus […]
Meituan-bakced EV Li Auto to raise US$950M in US IPO
Meituan-bakced EV Li Auto aims to raise US$950 million in its initial public offering of 95,000,000 American depositary shares, or ADSs. Li Auto anticipates that the IPO price per ADS will be between US$8.00 and US$10.00.