E-commerce has changed the way Chinese consumers live and its influence keeps growing. China has become the largest online retail market; 1.3 yuan out of 10 yuan was spent online by Chinese consumers in 2015.
China online holiday market to exceed $100 bn in 2017
Online holiday booking was a 432.63 billion yuan (US$66.67 billion) market in 2015, with an increase of 39.9% according to iResearch. It’s expected to exceed US$100 billion in 2017.
WeChat Pay reached over 300K retail stores
The number of offline retail stores integrated with WeChat Payment has exceeded 300,000 according to data released in during a WeChat Payment partner conference.
Taobao/Tmall Users vs Tmall Global Users
Tmall Global was officially launched on Feb 19 2014 by Alibaba which is designed for supplying imported goods for domestic consumers.
Tencent Launched Enterprise WeChat Challenging Alibaba DingTalk
Tencent officially launched Enterprise WeChat/Weixin this morning, positions as a tool for office communications and collaborations.
China Online Insurance Premiums to Exceed US$100 Bn in 2018
Online insurance in China maintained strong development and online insurance premiums grew by 169.5% to 72.8 billion yuan (US$11.25 billion) in 2015 according to iResearch.
China B2B E-Commerce Market 2014-2015
The total revenues of China B2B e-commerce market reached 6.39 billion yuan in Q4 2015, an increase of 7.9% QoQ according to Analysis.
Weibo V.S. Twitter in Q4 2015
Weibo reported net revenues of US$149.0 million in Q4 2015 compared to US$105.2 million for the same period in 2014. Advertising and marketing revenues totaled US$129.5 million in Q4 2015 compared to US$88.0 million in Q4 2014 according to Weibo.
Japan and Korea Still Hot Destinations for Chinese Travelers in 2016
The number of Chinese tourists traveling abroad increased 19.5% YoY to 120 million in 2015 and the number was 13 times higher than that of 1998 according to China National Tourism Administration. Data of Feng Li & Fung Group Research Center showed that consumption of Chinese tourists totaled US$229 billion in 2015.
Top 6 China Mobile Social Networking Apps
The average monthly reached users by mobile social networking apps in China exceeded 608 million in Q4, 2015 according to data from iResearch.
Chinese Consumers More Selective on Spending Habits
Chinese consumers become more selective about where they spend their money, shifting from products to services, and from mass to premium segments; and they seeking a more balanced life, where health, family, and experiences take priority according to a recent McKinsey’s 2016 China consumer report. 55% of Chinese consumers were confident their incomes would increase […]
China Online Banking Market Overview in Q4 2015
China’s online banking transaction values reached 510 trillion yuan (US$78.24 trillion) with an increase of 17.6% QoQ in Q4 2015 according to Analysys. The increase was mainly due to the improvement of online banking services and promotion of online shopping business.
Apple’s iOS Growth in China Reached the Slowest in Jan 2016
Apple’s iOS growth in urban China reached the slowest since late 2014 according to the latest smartphone sales data from Kantar Worldpanel ComTech for the three months ending January 2016. However, Apple still remained the most popular brand, capturing 25% of smartphone sales.
China Mobile Internet Market Forecast 2016-2018
China mobile internet market is expected to exceed 4,672 billion yuan (US$717 billion) in 2016 with 830 million users, an increase by 51.7% and 5% respectively according to Analysis. In 2018, it will reach 7,654.7 billion yuan (US$1,175 billion) with 890 million users.
China to Adjust Tax Policy for Cross-border Retail Goods
On March 24 2016, China Ministry of Finance, the General Administration of Customs and the State Administration of Taxation jointly issued the “notice on cross-border e-commerce retail import tax policies”.