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, […]
China’s CBDC Digital RMB App Launches Express Payment Function on WeChat Pay
The Digital RMB app, which is China’s CBDC, has recently launched an express payment feature on WeChat Pay. The app is currently in a pilot phase and enables users to pay using their digital currency wallet, including the Alipay digital currency wallet. Users need to register with the same phone number associated with their WeChat […]
Beijing Releases New Guidelines for Advertising and Financial Investment Compliance
Recently, the Beijing Municipal Bureau of Market Supervision has issued the Beijing Advertising Release Behavior Compliance Guidelines and the Beijing Financial Investment and Wealth Management Advertising Release Compliance Guidelines. The spokesperson in advertising is prohibited from promoting goods or services who never used the products themselves. Internet pop-up ads must allow users to close them […]
China’s mobile payment market overview 2023: Alipay vs. WeChat Pay
QR code payment is still the most commonly used payment method for mobile payment users in China according to China Payment & Clearing Association’s research. “Which payment do you use more in daily life?” According to recent research conducted by the China Payment & Clearing Association, QR code payment remains the most frequently used payment […]
China’s IoT spending to reach US$298 billion by 2026
In 2021, the global enterprise-level investment in the Internet of Things was about US$681.28 billion, which is expected to increase to 1.1 trillion US dollars in 2026, with a five-year compound growth rate (CAGR) of 10.8%. Affected by the epidemic, IDC slightly reduced the total spend forecast of China’s Internet of Things market in 2022. […]
Consumer VR shipment in China up 166% in H1 2022
Most of the new VR products in China are standalone headsets, with many using Pancake lenses for the consumer market, which sees increasing shipments of VR products as the VR content ecosystem dominated by gaming and fitness is developing, according to IDC. Consumer standalone VR shipments in China increased by 166.2% year-over-year in the first […]
Top 3 private traffic platforms for merchants in China
WeChat, Alipay, and short video platforms (Douyin, Kuaishou, etc) have become the most important platforms for Chinese merchants’ private traffic operation according to a report from iResearch. More than 80% of businesses believe that the cost of private traffic has increased by 40%, so the conversion rate and leveraging public traffic have become the core […]
China Fashion Industry in the Next Decade
The domestic demand for shoes and clothing in China has continued to grow rapidly and has leaped to the largest single footwear and clothing consumer market in the world, accounting for a quarter of the total, according to a recent McKinsey whitepaper. In this period of rapid development, driven by various factors such as economy, […]
Why are Chinese sportswear brands launching coffee products?
It is not new for Chinese shoe and apparel brands to get involved in coffee, tea, and even catering products and services. Earlier, some luxury fashion brands tried to sell coffee drinks in the store. According to the information on China Trademark Network, Xtep (China) Co., Ltd. recently applied for the registration of 3 “TE […]
Top mobile app download sources in China
Mobile app download channels integrated with users’ lifestyle use case scenarios have gradually become the focus of mobile app vendors, shortening the download process and improving the user experience. The top download sources of mobile apps in June 2022 in China are Huawei App Store (909 million downloads), App Store (729M), and Oppo App Store […]
China household savings increased by over 10 trillion yuan in H1 2022
RMB saving deposits increased by 18.82 trillion yuan in the first half of the year, an increase of 4.77 trillion yuan year-on-year, according to data from People’s Bank of China. Household saving deposits increased by 10.33 trillion yuan in H1 2022, non-financial enterprise deposits increased by 5.3 trillion yuan, fiscal deposits increased by 506.1 billion […]
Health has become a top factor for Chinese consumers’ food purchase
Chinese purchase of food, detergent, and other necessities requires a high brand trust from customers and indicates characteristics of high purchase frequency and strong user stickiness, according to a report jointly released by JD and Economic Daily News. Meanwhile, a large proportion of customers initially turn to online food shopping for a “better diet”; they […]
China digital transformation spending forecast 2021-2026
The Chinese government’s digital economy related planning during the 14th Five Year Plan period provides good policy and financial support. The total digital economy related investment in the next five years will be 15-20 trillion yuan. COVID-19 and other emergencies further highlight the value of digitalization. IDC’s survey in 2021 shows that due to the […]
China’s commercial service robot market overview 2022
In 2021, China’s commercial service robot market reached US $84 million (about RMB 540 million), with a year-on-year growth rate of 110.4%, according to data from IDC. Keenon Robot, Pudu Tech, CSJ Bot, Orion Star and other manufacturers lead the market. In the future, refined operation, pan catering, and overseas business will become an important […]
Top Chinese liquor brand Moutai starts selling ice cream
Selling ice cream in Maotai is not a fad, but a long plan. Maotai has initially launched three flavors of ice cream: original, vanilla, and tiramisu, selling at 39 yuan (US$5.8). According to its official disclosure, the R&D team is still experimenting with other Maotai ice cream of various flavors. In the future, Maotai will […]