In a significant move to facilitate foreign visitors in China, Ant Group and Tencent have announced new developments in their mobile wallet services, Alipay and WeChat Pay, respectively.
Alibaba Group’s Q1 2023 financial results reveal a mixed performance in its retail and e-commerce sectors, while its Tmall platform experiences a significant increase in new merchants.
DiDi Global Inc., a leading mobility technology platform in China, has reported its unaudited interim condensed financial results for the first quarter of 2023. The company’s performance shows a significant growth in user transactions and market share, particularly emphasizing its China Mobility and International segments.
China’s retail sector has shown a robust performance in the first half of the year, with total retail sales of consumer goods reaching 22.76 trillion yuan ($3.5 trillion), marking an 8.2% year-on-year increase. This growth rate is 2.4 percentage points faster than the first quarter.
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. […]
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, […]
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’s cloud infrastructure services market grew by 45% to US$27.4 billion in 2021 according to Canalys.
Mainland China’s cloud infrastructure spending increased 6% year-on-year in Q1 2023, reaching $7.7 billion and constituting 12% of total global cloud expenditure, according to market analysis firm Canalys.
In China’s e-commerce realm, the 618 Shopping Festival is an event of monumental scale and impact. It owes its inception to the Chinese e-commerce giant Taobao, which was founded on May 10, 2003.
According to the International Federation of Robotics, China has outpaced the United States in terms of industrial robot density for the first time in 2022, a testament to its aggressive investment in the sector. With 322 operational robots per 10,000 workers, China now ranks fifth globally in the manufacturing industry’s automation.
Recently, Beijing released the “Beijing Web3 Innovation Development White Paper (2023)”, which has generated significant interest within the industry.
Weibo Corporation, a leading social media platform in China, has announced its unaudited financial results for the first quarter of 2023.
Pinduoduo Inc., the Chinese e-commerce giant, has announced its unaudited financial results for Q1 2023, revealing significant growth and a new initiative to foster high-quality growth and strengthen its ecosystem.
Xiaomi Corporation (“Xiaomi”), a consumer electronics and smart manufacturing company, has announced its unaudited consolidated results for Q1 2023. The company’s solid performance was fueled by its focus on operational efficiency, premiumization strategy, and robust growth in its IoT ecosystem.