As the world slowly recovers from the pandemic, China’s outbound tourism sector is witnessing a promising resurgence. A recent report released online by the China Tourism Research Institute on July 30th provides an insightful glimpse into the trends of the first half of 2023. Asia Dominates Destination Preferences According to the report, a whopping 94% […]
China’s Consumer FMCG Market Snapshot 2023
China’s Fast Moving Consumer Goods (FMCG) market, a critical indicator of domestic consumption patterns, presents a mixed picture in Q2 2023, reflecting both resilience and challenges. Here’s a breakdown based on recent data from CTR and CCTV Market Research’s Kantar Consumer Index. 1. Market Growth and Diversification Despite the “high base effect,” the FMCG market […]
Huawei reports over 700M HarmonyOS devices
Huawei’s annual Developer Conference, HDC.Together 2023, has officially commenced. During the event, Yu Chengdong, CEO of Huawei’s Consumer Business Group (BG), shared the latest developments of HarmonyOS and the Harmony ecosystem.
Fresh Food E-Commerce Market in China to Exceed 600 Billion Yuan in 2023
Yangtze Evening Post reported that the first half of 2023 has seen the online fresh food and community group buying sectors experience contrasting fortunes. On the one hand, Dingdong Maicai is closing stores and retreating from cities, and Meiri Youxian is facing delisting. Meanwhile, Alibaba’s Hema is initiating plans to go public, and Xingsheng Youxuan […]
Alipay and WeChat Pay Open up Mobile Wallets to Foreigners in China
In a significant move to facilitate foreign visitors in China, Ant Group and Tencent have announced new developments in their mobile wallet services, Alipay and WeChat Pay, respectively.
China’s Digital-Native Businesses’ IT Expenditure Expected to Soar to $40 Billion by 2026
According to IDC’s latest forecast, the IT expenditure of China’s digital-native enterprises, companies with operations, business models, and customer interactions rooted in cloud computing and data, is expected to reach a substantial $40 billion by 2026. This projection is based on an anticipated compound annual growth rate (CAGR) of 23% over the next five years. […]
Top Chinese FMCG Brands 2023
Kantar Worldpanel, CTR’s partner in China, has unveiled its eleventh annual Global Brand Footprint Report, ranking brands in China’s rapidly changing consumer goods market for 2023. The report uses a unique metric called Consumer Reach Points to disclose the most preferred and swiftly expanding brands in the global marketplace. As per the report, in 2022, […]
Decoding China’s Search Engine Market: A Glimpse into User Behavior and Industry Trends
China’s search engine sector has been thoroughly dissected in a comprehensive study conducted by CTR Market Research. Concurrently, the size of China’s internet user base has been growing, coupled with a gradual resurgence of search engine usage rates over the recent years. The research identified Baidu, 360 Search, and Sogou as the top three traditional search […]
China cloud computing market in 2021; top 4 have 80% market share
China’s cloud infrastructure services market grew by 45% to US$27.4 billion in 2021 according to Canalys.
China household consumption trends
In 2022, the per capita consumption expenditure of the national residents in China was 24,538 yuan, a nominal increase of 1.8% over the previous year, and a real decrease of 0.2% after deducting the impact of price factors, according to the National Bureau of Statistics of China. In terms of urban and rural areas, the […]
Taobao’s 20th Anniversary Sets Stage for Largest 618 Shopping Festival Yet
In China’s e-commerce realm, the 618 Shopping Festival is an event of monumental scale and impact. It owes its inception to the Chinese e-commerce giant Taobao, which was founded on May 10, 2003.
China Outpaces US in Industrial Robot Density, Now Ranks Fifth Globally
According to the International Federation of Robotics, China has outpaced the United States in terms of industrial robot density for the first time in 2022, a testament to its aggressive investment in the sector. With 322 operational robots per 10,000 workers, China now ranks fifth globally in the manufacturing industry’s automation.
Beijing released a white paper on Web3 innovation development
Recently, Beijing released the “Beijing Web3 Innovation Development White Paper (2023)”, which has generated significant interest within the industry.
520 Day: China’s Modern Twist on Celebrating Love
What’s this “520 day” that intrigues many in China? The term 520, an abbreviation for May 20, denotes an unofficial Valentine’s Day in China. The number “520” phonetically resembles “Wo Ai Ni” or “I Love You” in Chinese.
China’s ICT Market Set to Surpass $2 Trillion Over the Next Four Years: IDC Reports
China’s Information and Communications Technology (ICT) spending for developing and operating digital businesses is projected to exceed US$2 trillion over the next four years, according to a report shared by the International Data Corporation (IDC) at its Directions event in Shenzhen. Amid global economic, political, and social disruptions, businesses are expected to leverage the latest […]