A recent report by the Korea Economic Research Institute (KERI) has unveiled the competitive dynamics in the global e-commerce sector. The report identifies Amazon (USA), JD.com (China), Alibaba (China), Pinduoduo (China), and Coupang (South Korea) as the top five e-commerce companies by revenue. Notably, Chinese e-commerce giants JD.com, Alibaba, and Pinduoduo (the parent company of […]
China’s Electric Vehicle Sales Surge by 28% in Q1 2024
According to a recent report by Counterpoint, the global sales of passenger electric vehicles (EVs), which include both battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs), saw an 18% year-over-year increase in the first quarter of 2024. Pure electric vehicle sales grew by 7%, while plug-in hybrid vehicle sales surged by 46%. China […]
IDC Highlights Autonomous Driving Technology Advancements
Recent advancements in technology, especially in artificial intelligence (AI), have propelled the connected, autonomous, shared, and electric (CASE) mobility trend. This has resulted in a highly competitive automotive industry in China. The new report from IDC China, “Autonomous Driving Capabilities Assessment, 2024,” delves into the progress of autonomous driving technology and evaluates the features of […]
China’s retail revolution: foreign company tops the chain for the first time in 40 years
In a historic shift, Walmart has overtaken Suning to become the leader in China’s retail market, marking the first time in 40 years that a foreign company has achieved this position. The Fall of Suning Suning, once a dominant force in Chinese retail, has seen a significant decline. This transition mirrors the fate of Carrefour, […]
China AR/VR market faces decline in Q1 2024, but optimism for H2 growth
According to IDC’s latest data, China’s AR/VR headset shipments totaled 107,000 units in the first quarter of 2024, representing a significant year-over-year decline of 37.8%. Despite this downturn, the market shows signs of potential recovery in the latter half of the year. In Q1 2024, the Augmented Reality (AR) segment saw shipments of 8,000 units, […]
China’s wearable device shipment up 36% in Q1
According to the latest IDC report, China’s wearable device market experienced remarkable growth in the first quarter of 2024, outpacing the global market by a significant margin. The market’s shipment volume reached 33.67 million units, representing a year-over-year increase of 36.2%. This rapid growth rate is nearly four times the global average. The smart watch […]
Meituan’s Q1 2024 Earnings Surge, Reflecting Robust Growth in China’s Internet Economy
As China’s digital landscape continues to evolve, Meituan, a leading Chinese technology platform, has reported substantial growth in its Q1 2024 financial results. The latest performance figures offer a detailed insight into the shifting trends and expanding segments within the country’s internet industry.
The Hidden Dangers of “Wild” Medical Care: Online Orders Pose Significant Risks
A recent report by Xinhua Daily Telegraph highlights the growing concerns around the proliferation of unauthorized medical care services being offered through online platforms. Titled “The Hidden Dangers of ‘Wild’ Medical Care: Online Orders Pose Significant Risks,” the report sheds light on the risks posed by third-party nursing platforms that recruit medical personnel to provide […]
Kuaishou Reports Record Q1 2024 Profit, Revenue Up 16.6%
Kuaishou Technology, Douyin (TikTok)’s top competitor in China, has unveiled an impressive financial performance for the first quarter of 2024, signaling robust growth and strategic advancements across its platforms.
PDD Revenue Surge 131% in Q1 2024
PDD Holdings Inc. (Pinduoduo) has announced its unaudited financial results for Q1 2024, showcasing remarkable growth with a 131% increase in total revenues and a substantial rise in operating profit.
China’s Short Drama Revolution: Explosive Global Growth
In recent years, the short drama market has experienced an unprecedented surge, captivating audiences worldwide with its bite-sized, high-quality content. This explosive growth is transforming the entertainment industry, creating new opportunities for content creators, investors, and marketers alike. A Booming Industry The short drama industry in China has seen remarkable growth, with the market size […]
China’s Electric Surge: Powering a Quarter of the World’s EV Exports
In 2023, China’s electric vehicle (EV) industry achieved a remarkable milestone, firmly establishing itself as a dominant force in the global EV market. According to the World Trade Organization (WTO), by the end of 2023, pure electric vehicles (BEVs) from China constituted a quarter of the global EV exports. This significant shift not only underscores […]
Baidu Reports Q1 2024 Results, Highlights Developments in AI and Cloud Services
Baidu announced its unaudited financial results for Q1 2024, reflecting the company’s operational performance and key developments.
ByteDance’s AI Surge: Introducing the Doubao Model Family
In the ever-evolving field of artificial intelligence, ByteDance has taken a significant leap forward with its recent announcements at the annual “Force Conference.” This event showcased ByteDance’s commitment to advancing AI, unveiling a series of updates from foundational models to top-layer applications under its subsidiary, Volcano Engine.
Top 50 Mobile Apps in China in Q1 2024
China’s mobile internet is booming, with active users surging past 1.23 billion in March 2024, a jump of over 20 million year-on-year, according to QuestMobile. This growth underscores the continued dominance of mobile in China’s digital landscape. QuestMobile also unveiled its ranking of the top 50 apps for Q1 2024 (below) across diverse categories, providing […]