Alibaba’s data showed that in the first half of 2013, Yiwu B2B online transaction reached 2.51 billion yuan (USD 410 million). It is expected to hit 5 billion yuan (USD 816 million) by the end of 2013. Yiwu, a city in the central area of Zhejiang province in China, is one of the most active […]
Archives for November 2013
Baidu Finance Center Outperformed Alibaba Yu’E Bao On the First Day
Baidu launched its finance center on October 28, 2013, within 5 hours, Baidu sold out 1 billion yuan (USD 163 million) worth of money fund. Baidu aimed at offering a finance product with a 8% annual percentage yield (APY) in cooperation with China AMC (China Asset Management Co.). Over 120,000 users bought Baidu money fund, […]
China Secondhand Luxury Brands Analysis
In 2013, China luxury brands market growth slowed down due to economic and other factors. But, how would China secondhand luxury brands market perform? Institute Fortune Character, an institute of Fortune Character which is a luxury lifestyle publication in China, did a survey of more than 200 secondhand luxury stores in Beijing, Shanghai and Guangzhou […]