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 […]
China’s Public Cloud Services Market Growth Slows in H2 2022, Still Shows Promise for Future
China’s public cloud services market (IaaS/PaaS/SaaS) reached $18.84 billion in the second half of 2022, according to the latest report from International Data Corporation (IDC). The IaaS market saw year-on-year growth of 15.7%, while the PaaS market grew at 31.8%. Compared to the first half of 2022, the combined IaaS and PaaS market growth slowed […]
Chinese Millennials Lead the Way in Internet Insurance Adoption
The Yuanbao Group, in collaboration with the China Insurance and Pension Research Center at the School of Finance of Tsinghua University, recently published the “2022 China Internet Insurance Consumer Insight Report” (hereinafter referred to as the “Report”). As the economy recovers and market confidence improves, insurance awareness and demand awakened during the pandemic are expected […]
China public cloud market share in 2021; IaaS+PaaS grew by 43% in H2
In the second half of 2021, the overall market of China’s public cloud services (IaaS/PaaS/SaaS) reached US$15.13 billion, of which the IaaS market increased by 40.1% (47.5% in H1) and the PaaS market increased by 55.7% (53.9% in H1) year-on-year, according to data from IDC.
China’s Labor Day Tourism Booms, Smaller Destinations Shine Amid Record Numbers
China’s Labor Day holiday, from 29 April to 3rd May 2023, witnessed an unprecedented boom in domestic tourism this year, with popular hotels fully booked and tickets to famous scenic spots selling out.
China’s Economy Sees Steady Recovery in Q1 2023; GDP Grew 4.5%
In Q1 2023, China’s GDP growth reached 4.5%, driven by solid performances across various sectors, according to National Bureau of Statistics of China. GDP in Q1 reached reached 28,499.7 billion yuan.
China’s Big Data & Analytics Market Set to Double by 2026, Driven by Healthcare, Manufacturing, and Government Sectors
China’s big data and analytics market’s total IT investment in 2022 is approximately $17 billion, doubling to $36.49 billion by 2026, according to an IDC report.
China’s AI Market Booms with Focus on Professional Services, Government, and Finance
China’s AI market spending will grow to $14.75 billion in 2023, accounting for one-tenth of the global total, according to IDC data. Due to the impact of the pandemic, geopolitics, and macroeconomic factors, IDC slightly lowered its forecast for China’s AI market size in 2022, with a growth rate of approximately 17.9% compared to 2021. […]
The Billion-Dollar ‘Planting Grass’ Economy: Content, Commerce, and Social Shopping
It’s hard to pinpoint when it started, but major Chinese tech companies have become obsessed with “planting grass” (Zhongcao). “Planting grass”, or Zhongcao, refers to recommending quality products to others to entice purchases or generating a desire to experience or possess something based on external information. In recent years, internet giants such as Tencent, Alibaba, […]