In the second half of 2022, the scale of China’s edge cloud market reached 4.6 billion yuan, a year-on-year increase of 53.5%, according to a recent report by the International Data Corporation (IDC). The market size of edge public cloud services, edge dedicated cloud services, and edge cloud solutions reached 2.32 billion yuan, 670 million […]
China advertising market overview in H1 2023
Recent data from CTR Media Intelligence reveals a notable growth in China’s advertising sector, showcasing a 4.8% year-on-year growth for the first half of 2023. The National Bureau of Statistics announced in July that China’s GDP rose by 5.5% year-on-year in the first half of 2023. This economic uptick has seemingly provided a confidence boost […]
Chinese Game Developers See Robust Growth in 2023, Capturing a Significant Share of the Global Market
At the “2023 Think Games Event” held in Shanghai, Zhou Yang, General Manager of Google’s Gaming Industry in Greater China, shared some insightful observations about the performance of the gaming industry, particularly highlighting the achievements of Chinese developers. With half of 2023 already behind us, Zhou Yang reflected on the year’s progress. “From a revenue […]
China’s Esports Industry Grows, Despite Slight Dip in Yearly Revenue
The first half of 2023 has witnessed a warming trend in China’s esports industry. With leading esports products maintaining steady operations, the launch of new games, and the strong return of competitive events, the industry’s revenue and user base remain stable. This September, esports will make its official debut at the 19th Asian Games in […]
Asia as China’s Outbound Tourism’ Top Destination in 2023
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 […]
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 […]
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 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 […]
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’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. […]