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 […]
China Internet of Things market forecast 2021-2026
In 2021, the global Internet of Things (enterprise-level) expenditure reached $690.26 billion and is expected to reach $1.1 trillion in 2026, with a five-year (2022-2026) compound growth rate (CAGR) of 10.7%, according to data from IDC. Among them, China’s enterprise market will reach US$294 billion in 2026, with a compound growth rate (CAGR) of 13.2%. […]
How Watsons China’s online sales almost doubled in 2021
Watsons China’s total revenue in 2021 was HK$22.77 billion, a year-on-year increase of 14%, the largest increase in the past five years. Watsons’ online sales increased by 94%, providing a strong impetus for the recovery of performance. Watsons’ long-term digital transformation has initially yielded fruitful results, which has become its biggest driving force to resist […]
China’s edge computing server market forecast 2022-2025
China’s edge computing server market reached US$3.31 billion in 2021, an increase of 23.9% over 2020. IDC predicts that from 2020 to 2025, the annual compound growth rate of the edge computing servers market in China will reach 22.2%, higher than 20.2% in the world. According to the deployment location, IDC classifies edge computing into […]
China tablet shipment up 8% in Q1 2022
In the first quarter of 2022, the shipment of China’s tablet market was about 6.76 million units, a year-on-year increase of 8.1%, according to the latest IDC data. With the adaptation to the new market situation, the global tablet computer shipment in the first quarter of 2022 decreased by 2.1% year-on-year to 39.13 million units. […]
China smart device market overview 2022
Smart Home is the largest smart device segment in China with over 185 million monthly active users, followed by Wearable, Smart Automobile, Smart Accessories, and Smart Health. Huawei Sports is the top smart device app with over 69.07 million MAU, followed by Xiaomi’s Mijia app (86 million MAU). Huawei has the largest smart device share […]
China online video, short video market overview 2022
China online video market reached 975 million MAU in 2021 Short video market saw 934 million users Douyin vs. Kuaishou With China’s online video platforms’ increasing production of original high-quality content and expansion of user preferences, the traffic has risen steadily, and the total number of online video users reached 974.71 million in 2021. The […]
China grocery e-commerce market to more than double by 2023
China’s grocery consumption retail market is estimated to reach 5469.7 billion yuan in 2021 and exceed 6817.3 billion yuan by 2025. Grocery Consumption by Categories Grocery retail market Online contributed to 14.6% of the total grocery retail market in China in 2020 from 8.8% in 2019. China grocery e-commerce market is estimated to exceed 1.2 […]
China senior internet users overview 2022
China senior internet users, who are above 50 years old, reached a record number of 275 million as of January 2022, according to data from QuestMobile. The seniors in China spend an average of 5.7 hours per day on the internet, down from 6.2 hours a year ago. Mobile phones, TV, and Desktop computers are […]
China online advertising market insights 2022
In 2022, 42.9% of advertisers in China expect to increase spending in digital marketing, 25 percentage points more than advertisers expect to reduce spending, according to CTR. China advertising market vs online ad market Advertisers of large enterprises with a budget of 500 million yuan or more are more confident in digital marketing spending. In […]
China’s tech unicorns overview 2022
The total number of Unicorn enterprises from China is 219 as of December 2021, an increase of 12 or 5.9% over the end of 2020. Beijing and Shanghai account for almost 60% of total technology unicorns in China. About 94% are concentrated in five regions; more than 60% of these enterprises are in five industries. […]