Top Performers

ByteDance, Xiaomi, and SHEIN lead the list, showcasing the strength of Chinese brands in the entertainment, electronics, and fashion sectors.

Lenovo, Huawei, and AliExpress also remain strong contenders, emphasizing the diversity and innovation in China’s tech and e-commerce industries.

Sector Growth

Smart devices, automobiles, and e-commerce experienced the fastest brand power growth, with China’s industrial ecosystem and technological innovations providing a competitive edge.

Consumer electronics, entertainment apps, and online fashion account for a substantial portion of the brand power growth.

Brand Expansion

Chinese brands have successfully penetrated international markets, with notable growth in regions like Europe, North America, and Southeast Asia.

Brands like BYD and NIO in the automotive sector, and OPPO and Vivo in consumer electronics, have expanded their global footprints, contributing to the increasing brand power.

Market Trends

The report highlights a shift in consumer preferences towards brands that offer meaningful differentiation and high engagement. Brands that have successfully created unique and compelling brand experiences have seen significant growth.

There has been a notable increase in the brand power of mid-sized brands, indicating a shift from the dominance of top-tier brands to a more competitive landscape.

Notable Brand Highlights

• ByteDance: As a global leader in digital content and social media, ByteDance’s platforms like TikTok have become household names worldwide, driving significant brand recognition and engagement.
• Xiaomi: Known for its high-quality yet affordable electronics, Xiaomi continues to expand its product lines and market reach, solidifying its position as a leading global brand.
• SHEIN: The online fashion retailer has disrupted traditional retail with its fast-fashion model, capturing a significant global market share and expanding rapidly across multiple regions.
• BYD: In the automotive sector, BYD’s focus on electric vehicles has positioned it as a key player in the global shift towards sustainable transportation solutions.
• OPPO and Vivo: These smartphone giants have continued to innovate and expand their international presence, offering advanced technology and appealing to a broad consumer base.

Strategic Insights

The report suggests that the key to the success of Chinese global brands lies in their ability to offer meaningful differentiation and engage deeply with consumers. Brands that can innovate and adapt to changing consumer preferences will continue to thrive in the competitive global market.

• Consumer Engagement: Successful brands have invested in understanding and meeting the functional and emotional needs of their consumers, creating strong brand loyalty and advocacy.
• Technological Innovation: Continuous investment in technology and innovation has enabled Chinese brands to stay ahead of the curve, offering cutting-edge products that resonate with global consumers.
• Global Strategy: A tailored approach to international markets, considering local preferences and cultural nuances, has been crucial for the expansion and acceptance of Chinese brands abroad.

Top 50 Brands from Kantar BrandZ 2024 China Global Brands

1. ByteDance
2. Xiaomi
3. SHEIN
4. Lenovo
5. Huawei
6. AliExpress
7. Haier
8. TEMU
9. OPPO
10. Hisense
11. TCL
12. Tencent
13. vivo
14. Chery
15. BYD
16. Anker
17. DJI
18. MiHoYo
19. OnePlus
20. Kuaishou
21. realme
22. GWM
23. TP-LINK
24. HONOR
25. Lynk & Co
26. MAXUS
27. Insta360
28. WORX
29. Lilith
30. Century Games
31. JAC
32. Roborock
33. CHANGAN
34. Geely
35. Midea
36. DiDi
37. POCO
38. ECOVACS
39. Trip.com
40. Magic Tavern
41. Habby
42. Tsingtao Beer
43. EcoFlow
44. Infinix
45. IGG
46. Kunlun
47. eufy
48. 37Games
49. NetEase Games
50. LightInTheBox

BCG: The most innovative Chinese companies

Meituan’s revenues for the first quarter surged by 25% to RMB 73.3 billion, up from RMB 58.6 billion during the same period last year. This growth was driven by strong performances across both its core local commerce and new initiatives segments.

The company’s operating profit saw a significant jump of 45.3% to RMB 5.2 billion, while profit for the period increased by 59.9% to RMB 5.37 billion.

Expanding Core Local Commerce

The core local commerce segment, which includes Meituan’s on-demand delivery services, saw revenues increase by 27.4% to RMB 54.6 billion. Operating profit in this segment rose by 2.7% to RMB 9.7 billion, maintaining a solid operating margin of 17.8%.

Meituan’s on-demand delivery business recorded robust growth. The introduction of innovative models such as Branded Satellite Stores, which offer high-quality, cost-effective food delivery without in-store dining, has significantly contributed to this growth.

Additionally, the company expanded its Pin Hao Fan model to more cities, enhancing consumer experience and improving order dispatch systems.

Rapid Growth in New Initiatives

The new initiatives segment experienced an 18.5% increase in revenues, reaching RMB 18.7 billion. Notably, the operating loss for this segment narrowed by 45.2% to RMB 2.8 billion, indicating improved operational efficiency and strategic focus on high-quality growth.

Meituan Select, the company’s community group buying service, played a pivotal role in this performance. By increasing the price mark-up ratio, reducing fulfillment costs, and improving marketing efficiency, Meituan has significantly enhanced its operational metrics.

Broader Business Insights

On-Demand Delivery and Instashopping:

Meituan’s on-demand delivery services saw significant transaction growth, with innovative models like Branded Satellite Stores and expanded Pin Hao Fan coverage driving higher engagement.

Meituan Instashopping continued its rapid growth, driven by increased user engagement and transaction frequency. Strategic initiatives during the Spring Festival, focusing on holiday products and gifts, contributed to higher revenues in categories like liquor, beverages, and daily necessities.

In-Store, Hotel, and Travel:

The in-store business experienced strong growth, benefiting from enhanced marketing capabilities and enriched content offerings. Live streaming campaigns and merchant support measures increased participation and consumer engagement.

Meituan’s hotel and travel segment reported robust year-over-year growth in domestic hotel room nights and GTV. The company capitalized on emerging trends by focusing on niche travel destinations, particularly in lower-tier cities.

Financial Highlights

For the first quarter of 2024, Meituan achieved notable financial milestones:

• Revenues increased by 25% to RMB 73.3 billion.
• Operating profit rose by 45.3% to RMB 5.2 billion.
• Profit for the period jumped by 59.9% to RMB 5.37 billion.
• Adjusted EBITDA and adjusted net profit saw year-over-year increases of 28.9% and 36.4% respectively.
• Number of on-demand delivery transactions grew by 28.1%.

As Meituan continues to navigate the evolving digital landscape, its strategic initiatives and robust financial performance position it well to capitalize on emerging trends and growth opportunities in China’s competitive internet sector. The company’s commitment to operational excellence and innovative service models is expected to drive sustained growth and market leadership.

Top e-commerce mobile shopping platforms in China

The Greater Bay Area is home to more top brands than any other region in China with 134 brands represented in the ranking.

The banking sector dominates with 85 brands accounting for 22% of total brand value in ranking, with ICBC once again crowned China’s most valuable brand.

Leading fight against health emergency, pharma sector sees greatest brand value increase, up staggering 123%. Leading the way as the sector’s most valuable brand is Sinopharm, which has recorded a 58% brand value increase to US$3.2 billion.

Retail is the second most valuable sector – with 17 brands featuring and accounting for 10% of the total brand value – and also the second-fastest-growing sector, recording a cumulative brand value growth of 54%.

The top four Chinese e-commerce brands – Taobao, Tmall, Alibaba.com, and JD.com – have all seen significant brand value growth. Taobao (brand value US$53.3 billion) and Tmall (brand value US$49.2 billion) have entered the top 10 for the first time following 44% and 60% brand value increases, respectively.

Alibaba.com’s brand value has been boosted by 108% to US$39.2 billion, simultaneously propelling the brand from 22nd to 13th – a result of a huge spike in demand. JD.com enjoyed an 82% brand value increase to US$23.5 billion, following a 30% rise in its annual shopper count.

Pinduoduo is the fastest growing brand in China, up 148% to US$6.3 billion and jumping 60 places in the ranking to 63rd. Read about Pinduoduo’s road to brand upgrade.

Perseverance of brands in investment and infrastructure development pays off – solid performances across real estate and engineering & construction sectors.

Media sector surges 33%.

• WeChat is China’s and the world’s strongest brand with a top score of 95.4 out of 100 and AAA+ brand strength rating.
• TikTok/Douyin (brand value US$18.7 billion), has taken the 24th spot as the highest new entrant.
• Bilibili up 106% to US$1.9 billion

Top 500 Chinese Brands in 2021

Members can download the list here (Excel; annual and CIW Premium subscribers).

Top Global Brands 2021

US and Chinese brands account for two-thirds of the total brand value of the world’s 500 most valuable brands, according to the latest report by Brand Finance – a brand valuation consultancy.

US brands boast a cumulative brand value of a staggering US$3.3 trillion, equating to 46% of the total brand value in the ranking. Chinese brands’ total brand value is US$1.4 trillion, equating to 20%.

Apple has overtaken Amazon and Google to reclaim the title of the world’s most valuable brand for the first time since 2016 with an impressive 87% brand value increase to US$263.4 billion and.

• Tesla leaves traditional auto marques behind with the fastest brand value growth in ranking, up 158%
  CBS is the fasting-falling brand in ranking, down 49%
• Airline and aerospace sectors account for 6 out of 10 fastest-falling brands in the ranking
• Hospitality suffers from travel and dining restrictions, as Marriott and Airbnb check out from ranking and Starbucks, McDonald’s, and KFC see brand values drop
• Mastercard’s Ajay Banga best among top 100 CEOs in Brand Finance Brand Guardianship Index 2021

Top 100 best Chinese brands, led by Alibaba and Tencent

The seven countries included in the report by United Nations Conference on Trade and Development (UNCTD) are Australia, Canada, China, South Korea, Singapore, UK, and the U.S. China and the U.S. lead the global retail market with total sales of $5,681 billion and $5,638 billion respectively in 2020.

China also has the largest online retail sales of US$1,414.3 billion in 2020, followed by the U.S. with $791.7 billion.

Also read: Top e-commerce mobile shopping platforms in China 2021

China’s online sales accounted for 24.9% of the total retail market. South Korea’s online share is the highest of 25.9%.

UNCTD’s report also identified the top 13 B2C e-commerce companies by GMV, led by Alibaba, Amazon, JD, Pinduoduo, Shopify, eBay, and Meituan.

Among the top 13 companies, the ones with the highest growth in 2020 are Shopify, Walmart, and Pinduoduo.

CIW members can download the report here (CIW Standard annual billing and all CIW Premium subscribers).

Social e-commerce Pinduoduo’s road to brand upgrade

Li Xiang, the founder, chairman, and CEO, will hold more than 50% of the aggregate voting power immediately upon the completion of this offering and the concurrent private placements.

Certain existing shareholders have agreed to purchase US$380.0 million in Class A ordinary shares from Li Auto, including:

• US$300.0 million by Inspired Elite Investments Limited, an affiliate of Meituan Dianping
• US$30.0 million by Bytedance (HK) Limited, an affiliate of Bytedance Ltd.
• US$30.0 million by Zijin Global Inc., an affiliate of Wang Xing, its director, and
• US$20.0 million by Kevin Sunny Holding Limited.

Positioned as an innovator in China’s new energy vehicle market, Li Auto designs, develops, manufactures, and sells premium smart electric SUVs. It is the first to successfully commercialize extended-range electric vehicles, or EREVs, in China.

Its first model, Li ONE, is a six-seat, large premium electric SUV equipped with a range extension system and cutting-edge smart vehicle solutions. Li Auto started the volume production of Li ONE in November 2019 and had delivered over 10,400 Li ONEs as of June 30, 2020.

Li focuses on the SUV segment within a price range of RMB150,000 (about US$21,000) to RMB500,000 (US$70,000). With their growing consumption power, families in China tend to choose SUVs for daily commutes and weekend family trips.

Its range extension solution also enables them to significantly reduce the bill of materials cost, or BOM cost, which results in more competitive pricing of Li ONE when compared to BEVs and ICE vehicles in a similar class according to Li Auto’s SEC filing.

Li has developed its four-display interactive system, full-coverage in-car voice control system, and advanced driver-assistance system, or ADAS, delivering safe and enjoyable driving and riding experiences to the customers.

Li Auto manufactures in-house and collaborate with industry-leading suppliers to ensure the high quality of its vehicles. It has built its own manufacturing base in Changzhou, Jiangsu Province, China, which allows its engineering and manufacturing teams to seamlessly collaborate with each other and streamline the feedback loop for rapid product enhancements and quality improvements.

It plans to launch a full-size premium electric SUV in 2022, which will be equipped with the next-generation EREV powertrain system. In the future, to target a broader consumer base, Li will expand its product lineup by developing new vehicles including mid-size and compact SUV models.

China is both the largest passenger vehicle market and the largest NEV market in the world as measured by sales volume. China’s NEV market is currently skewed towards BEVs, as 81.3% of the NEVs sold in China in 2019 were BEVs, according to the CIC Report.

Li has developed its proprietary EREV technology and applied it to the first model, Li ONE. An EREV is purely electric-driven by its electric motors, but its energy source and power come from both its battery pack and range extension system.

A range extension system generates electricity with a dedicated ICE designed with high fuel consumption efficiency, an electric generator, and a speed reducer to connect them.

The Li ONE electric propulsion system consists of a 140-kilowatt rear-drive electric motor, a 100-kilowatt front-drive electric motor, and a 40.5-kilowatt-hour battery pack, which supports an electrically powered NEDC range of 180 kilometers.

Li ONE’s range extension system consists of a 1.2-liter turbo-charged engine configured and fine-tuned for EREV purposes, a 100-kilowatt electric generator, and a 45-liter fuel tank.

With its integrated powertrain system, Li ONE delivers a total New European Driving Cycle, or NEDC, range of 800 kilometers, acceleration from zero to 100 kilometers per hour in 6.5 seconds, and energy efficiency of 6.8 liters per 100 kilometers or 20.2 kilowatt-hours per 100 kilometers, depending on its driving mode.

Li ONE’s energy can be replenished by slow charging, fast charging, and refueling.

Li ONE can operate even when customers have no access to charging infrastructure, thereby completely eliminating range anxiety. To offer the same driving range as BEVs of a similar class, Li ONE requires much less battery capacity.

A smaller battery pack not only is less costly, but also contributes to a more cost-efficient body structure design, which results in less usage of costly aluminum parts for the vehicle body and suspension system. As a result, the BOM cost of Li ONE is close to that of an ICE vehicle and is much lower than that of a BEV of a similar class.

Li Auto revenues for the three months ended June 30, 2020 reached RMB1.9 billion (US$275.0 million), including vehicle sales of RMB1.9 billion (US$271.0 million), representing an increase by 128.6% QoQ from revenues of RMB851.7 million for the three months ended March 31, 2020, including vehicle sales of RMB841.1 million.

Its vehicle deliveries for Q2 2020 increased by 128.0% to reach 6,604 from 2,896 in Q1 and the average selling price of its vehicles remained consistent during these two periods. As of June 30, 2020, it had over 700 sales and service personnel deployed across 21 retail stores, 18 delivery centers, and 17 servicing centers nationwide.

The gross profit margin increased from 8.0% in Q1 2020 to 13.3% in Q2 2020. It recorded a net loss of RMB75.2 million (US$10.6 million) for Q2, compared with a net loss of RMB77.1 million for Q1.

Li Auto had RMB3.7 billion (US$521.2 million) in cash and cash equivalents, restricted cash, time deposits, and short-term investments as of June 30, 2020, compared with RMB3.4 billion as of March 31, 2020.

WeChat is testing a new feature allowing users to find nearby restaurants according to Yiou News. This feature locates on the top level menu, in parallel with WeChat Moments, People Nearby, Mini-Programs, etc.

Some WeChat users discovered “Nearby Restaurants” feature in Plugins of Settings (previously WeChat Lab; left picture of the screen capture below) according to Yiou. The testing is currently only limited to Guangzhou.

WeChat has been providing Food feature for a while with Mini-Programs, which is under “Mini-Programs > Nearby Mini-Programs”. However, users can’t get much information about the restaurants as no information such as ratings or reviews is available.

The new “Nearby Restaurants” feature in WeChat looks like a challenge to Meituan Dianping, one of China’s leading e-commerce platform for local lifestyle services that went public in Hong Kong in September 2018. Meituan’s annual transacting users increased by 30.3% to 382.3 million as of September 2018.

With its strong social feature and large user base, this Nearby Restaurants could become an essential part of WeChat ecosystem. It can target and hurt Meituan Dianping if it chooses to do so. But, it’s not clear yet.

Tencent is Meituan Dianping’s largest shareholder holding close to 20% of its shares:

Meituan Dianping has well utilized Tencent’s WeChat ecosystem, especially WeChat Pay and Mini-Programs. And, it owns several ones in the top WeChat Mini-Programs.

Would Tencent create another Meituan Dianping? Theoretically, it’s one possibility. Alternatively, Tencent could also work with it integrating its restaurants’ data while enhancing it with high social engagement and complementing its e-commerce offerings.

WeChat is at least not an immediate threat to Meituan. Its current strong competitors include Alibaba’s Koubei and Ele.me.

Also read: WeChat launched its own version of “Facebook Stories”

China online food delivery market totaled 67.73 billion yuan in Q4 2017 with an increase of 16.2% QoQ or 81.8% YoY according to data from Analysis.

The largest segment of China’s online food delivery market is the white-collar business market with 82.7% market share, followed by family community market and campus market.

Ele.me and Baidu Waimai have a combined market share of 49.8%, followed by Meituan (43.5%).

REPORT The rise of the Millennials consumers in China

China online accommodation market totaled 39.38 billion yuan (US$5.97 billion) with an increase of 27.1% YoY according to data from Analysis.

Ctrip leads China’s online accommodation market in Q2 2017 with 46.7% market share, followed by Qunar, Meituan and Alitrip.

While China’s more affluent consumers increasingly favor independent travel, the online holiday and group tour booking market is still showing rapid growth, likely driven by continued expansion of the middle class in China. China online holiday booking market overview Q2 2017 »

China online tourism market analysis 2017

During 2016, the online tourism market in China maintained steady growth over the year prior, growing much more quickly than GDP growth while increasing its overall penetration into the tourism industry as a whole.

Overall, online booking of hotels and plane tickets maintained leading positions within online tourism sales, and individual travel bookings dominated the industry (as opposed to group tours). The trend towards individual, independent travel is beginning to dramatically affect the market, mostly in ways which are beneficial to the online travel booking industry.

Tourism industry revenue trends

The tourism industry in China has maintained a growth rate far above GDP growth for several years, growing at over 10% year-on-year every year for the past five years. In 2016, the total market reached 4.69 trillion yuan (US$ 703 billion), having grown by 13.6% from 2015.

This growth rate is also slightly higher than 2015, when growth over 2014 was 11.0%. Tourism accounted for 6.3% of China’s GDP in 2016, also a slight increase over 2015 (6.0%).

Meanwhile, the online tourism market is growing much more rapidly than the tourism market overall; in 2016, online tourism revenue reached 739.42 billion yuan (US$110.85 billion), representing 56.1% growth over 2015. As a result, online tourism has increased its market share from 11.5% of the market in 2015 to 15.8% in 2016 (up from 6.6% in 2012).

Online tourism market overview

From 2015 to 2016, there were minor changes in the structure of the online tourism market in China. In 2016, as before, online booking of transportation (plane, high-speed rail, conventional rail) dominated the market, with total revenue of 538.5 billion yuan (US$80.7 billion), followed by accommodation booking with 125.1 billion yuan (US$18.8 billion).

Group tours and tour packages made up the remainder; market share shifted in favor of transportation, which rose from 70.2% to 72.8% of the market, taking equally from accommodation and tours, which both slid from 2015 by about 1.3%.

Within the online tourism market, there were three major players and a host of minor ones. The major players, Ctrip, Qunar, and Fliggy, collectively dominated the market in 2016, with 68.7% of market share. Ctrip maintained a commanding lead, holding 35.7% of the market (263.6 billion yuan or US$39.5 billion), a slight decline over the year prior in terms of market share.

Qunar, however, slid dramatically after being bought out by Ctrip; in 2015 it accounted for 27.8% of the online tourism market, but dropped to only 18.2% in 2016. Minor players stepped into the gap in a big way, moving on the backs of a market shift in favor of O2O and featuring several new players which combine tourism sales with Tripadvisor-like crowd-sourced advice and reviews.

Online tourism investment overview

When it comes to investors, holiday and accommodation booking are still the two sectors which attract the most attention and capital. With Chinese tourism spending continuing to rise and holiday booking markets still in their infancy, there is significant room for online providers to make an impact and earn a return on investment in this sector.

Within the holiday booking industry, international travel continues to be a growth market and a driving force. While overall investment share declined significantly from 2015, holiday booking is still an under-served market and will continue to attract attention and financing going forward.

In addition, investment into travel finance is noteworthy; a new and much-watched market, with investment only appearing in 2016, it is driven by Chinese consumers’ increasing willingness to amortize major expenses beyond a home.

Online tourism markets: Sector breakdowns and analysis

Online transportation market

Of all sectors, transportation booking has the highest online market penetration rate, with online booking accounting for 54.6% of sector revenue. As consumers in China come to prefer independent travel over group tours, online booking has become the preferred way of buying train or plane tickets because of its convenience and economy. In 2016, the online transportation market grew by 62.0% to reach 538.5 billion yuan (US$80.7 billion).

The market share breakdown within the online transportation market mirrors the breakdown within the online tourism market as a whole, with the same three major players accounting for 69.4% of the market in 2016.

As with the overall market, Qunar has seen a dramatic fall in market share from 2015 to 2016, dropping by a whopping 12.5% to 20.5% following its purchase by Ctrip. Ctrip has maintained a commanding lead as the largest player in the market, especially with the addition of Qunar.

Minor players have stepped into the market in a big way, with sites such as Tuniu (which formerly focused on group tours and holiday packages) introducing transportation booking platforms.

The most important component of online transportation booking, China’s online plane ticket booking market has grown in lock-step with (indeed, been the primary driving factor behind) growth in the online transportation booking market.

In total, plane tickets account for 88.5% of online transportation booking revenue, and 68.1% of all plane ticket revenue comes from online bookings. From 2015 to 2016, this market has grown by 60.9% to 476.7 billion yuan ($US 71.5 billion). By comparison, train and bus tickets are a small portion of the online transportation booking market, and online booking’s penetration into these areas is quite low.

Online accommodation market

The market for online accommodation booking in China is the second largest component of the online tourism industry, with a value in 2016 of 125.1 billion yuan (US$18.75 billion), and accounting for 32.6% of the accommodation booking sector within China. This market is also growing far more quickly than the tourism market in China, but u

This market is also growing far more quickly than the tourism market in China, but unlike the online transportation booking sector, its year-on-year growth fell markedly from 2015 to 2016, from 57.6% in 2015 to 45.1% in 2016.

The four major players within the online accommodation booking market in China are Ctrip, Qunar, Fliggy, and eLong, which collectively account for 74.4% of the market. Qunar, as mentioned above, was acquired by Ctrip in 2016, as was eLong, meaning that that one holding company collectively controls 67.3% of the market for online accommodation booking.

Market share for both Qunar and eLong has fallen significantly from 2015 following their acquisition by Ctrip. Their market share has been eroded in part by the entry of Meituan (A Groupon analog) into the hotel booking market in a big way in recent months.

Online holiday and tour markets

The online holiday and tour booking market is simultaneously the smallest sector of the online tourism industry and the one in which online platforms have the least penetration, accounting for only 10.3% of the online tourism industry and 17.5% of holiday and tour booking.

Its comparatively small market penetration is one of the reasons that it has attracted significant attention and capital from investors in recent years, but in 2016 the sector saw markedly smaller growth (37.7%) compared to 2015 (58.2%), reaching a total revenue of 75.7 billion yuan (US$11.3 billion).

Analysis sees long-term, slow growth in the online side of the industry as it slowly increases market penetration relative to offline providers, but the industry as a whole may be falling out of favor with consumers who are increasingly interested in independent travel.

Analysts concluded that the industry may be entering a period of “deep plowing and careful cultivation” (a Chinese idiom roughly meaning “retrenchment”) in which more strategically-minded participants restructure their operations to suit changing consumer preferences and many participants are weeded out entirely.

As with the other sectors, the online holiday booking market is dominated by several major players (with a total market share of 76.5%), but excepting Ctrip none of the players are the same as in the other sectors, due to the wildly different conditions and requirements faced by the industry. Compared to 2015, market consolidation has increased; market share for the largest four players in 2015 was 68.4%.

Given the conditions faced by the market, market entrants increasingly focus on upscale tours rather than the economy group tours which were the mainstay of the industry, and the major participants are restructuring their operations accordingly.

One bright spot within the online pre-packaged tour/holiday booking industry remains international tourism, which accounts for 56.0% of the market. Outbound tourism has been immune to many of the headwinds faced by the market for domestic group tours, buoyed by issues related to language, safety, and tourist visa access for Chinese traveling abroad.

However, the growth rate has slowed even for the international group travel market; Analsys analysts suggest that, as Chinese consumers become wealthier and more experienced internationally, and as foreign countries become more adapted to and comfortable with Chinese tourists, the same preference for independent travel which has already manifested itself for travel within China will come to do so for international travel as well.

The transactions of China online accommodation market totaled 37.202 billion yuan in Q1 2017 with an increase of 43.24% YoY according to data from Analysis.

Ctrip leads the market with 46.6% market share, followed by Qunar, Meituan, eLong, and Alitrip.

China’s domestic tourism insights in 2017