The National Bureau of Statistics (NBS) of China has released data indicating a significant increase in online retail sales in the first half of 2024. The total online retail sales reached 7.0991 trillion RMB (US$981 billion), marking a 9.8% year-on-year growth.
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China’s AI Industry Reaches New Heights with $521 Billion in Total Funding
At the recently concluded World Artificial Intelligence Conference (WAIC) 2024, significant insights and forecasts for the AI industry were revealed. Among the highlights was the substantial growth in China’s AI sector, with total funding reaching 3776.2 billion RMB (about US$521 billion). The conference underscored China’s pivotal role in the global AI landscape, featuring prominent predictions […]
Chinese Commercial Service Robot Industry Sees Practical Growth Phase
The Chinese commercial service robot industry has entered a more pragmatic and effective development phase. Industry clients expect robots to become efficient production and service assistants, while robot manufacturers are focusing on improving operational efficiency and profitability. According to IDC’s latest report, the overall market size for commercial service robots in China is approximately 1.38 […]
Chinese Companies Making Waves in the Middle East E-Commerce Market
The Middle East has emerged as a new frontier for e-commerce, drawing significant attention from Chinese companies eager to expand their global presence. With a young, tech-savvy population and high spending power, the region offers a promising market for Chinese e-commerce giants. Exploring New Opportunities in the Middle East Xu Jin, a talent scout for […]
How a Local Chinese Retailer is Transforming Struggling Supermarkets Nationwide
As a retail company making waves across China, Pang Dong Lai has emerged as a white knight, transforming struggling retail enterprises seemingly overnight. A New Business Model in Retail Recent reports highlight that after receiving assistance from Pang Dong Lai, Yonghui Supermarket saw its first-day post-adjustment foot traffic multiply by 5.3 times and sales by […]
China FMCG Market Trends 2024
Kantar Worldpanel has released its “2024 Brand Footprint Report” detailing the top 50 most chosen brands in China’s fast-moving consumer goods (FMCG) market. The report reveals key drivers of brand growth in the new market reality through an analysis of the performance of these leading brands. The report uses Consumer Reach Points (CRPs) as a […]
China’s Top 50 Global Brands for 2024
The latest report from Kantar BrandZ, “2024 China’s Top 50 Global Brands,” highlights the dynamic growth and global reach of Chinese brands. The study, which has been conducted annually, provides valuable insights into the leading Chinese brands that have made significant impacts in international markets.
What’s different in 618 Shopping Festival 2024?
In an aggressive move to streamline operations and enhance consumer experience, China’s leading e-commerce platforms, including Alibaba’s Tmall, Taobao, and JD.com, have significantly revamped their strategies for the 2024 618 Shopping Festival.
Chinese e-commerce giants achieved an annual revenue growth rate of 41%
A recent report by the Korea Economic Research Institute (KERI) has unveiled the competitive dynamics in the global e-commerce sector. The report identifies Amazon (USA), JD.com (China), Alibaba (China), Pinduoduo (China), and Coupang (South Korea) as the top five e-commerce companies by revenue. Notably, Chinese e-commerce giants JD.com, Alibaba, and Pinduoduo (the parent company of […]
China’s Electric Vehicle Sales Surge by 28% in Q1 2024
According to a recent report by Counterpoint, the global sales of passenger electric vehicles (EVs), which include both battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs), saw an 18% year-over-year increase in the first quarter of 2024. Pure electric vehicle sales grew by 7%, while plug-in hybrid vehicle sales surged by 46%. China […]
IDC Highlights Autonomous Driving Technology Advancements
Recent advancements in technology, especially in artificial intelligence (AI), have propelled the connected, autonomous, shared, and electric (CASE) mobility trend. This has resulted in a highly competitive automotive industry in China. The new report from IDC China, “Autonomous Driving Capabilities Assessment, 2024,” delves into the progress of autonomous driving technology and evaluates the features of […]
China’s retail revolution: foreign company tops the chain for the first time in 40 years
In a historic shift, Walmart has overtaken Suning to become the leader in China’s retail market, marking the first time in 40 years that a foreign company has achieved this position. The Fall of Suning Suning, once a dominant force in Chinese retail, has seen a significant decline. This transition mirrors the fate of Carrefour, […]
China AR/VR market faces decline in Q1 2024, but optimism for H2 growth
According to IDC’s latest data, China’s AR/VR headset shipments totaled 107,000 units in the first quarter of 2024, representing a significant year-over-year decline of 37.8%. Despite this downturn, the market shows signs of potential recovery in the latter half of the year. In Q1 2024, the Augmented Reality (AR) segment saw shipments of 8,000 units, […]
China’s wearable device shipment up 36% in Q1
According to the latest IDC report, China’s wearable device market experienced remarkable growth in the first quarter of 2024, outpacing the global market by a significant margin. The market’s shipment volume reached 33.67 million units, representing a year-over-year increase of 36.2%. This rapid growth rate is nearly four times the global average. The smart watch […]
Meituan’s Q1 2024 Earnings Surge, Reflecting Robust Growth in China’s Internet Economy
As China’s digital landscape continues to evolve, Meituan, a leading Chinese technology platform, has reported substantial growth in its Q1 2024 financial results. The latest performance figures offer a detailed insight into the shifting trends and expanding segments within the country’s internet industry.