Meituan’s total revenues decreased by 12.6% year-over-year to RMB16.8 billion from RMB19.2 billion in Q1 2019. The operating loss for Q1 2020 expanded on a year-over-year basis from RMB1.3 billion to RMB1.7 billion, while operating margin decreased from negative 6.8% to negative 10.2%.
COVID-19 Business Updates in China
By March 2020, the number of online payment users in China has reached 768 million, an increase of 168 million over the end of 2018, accounting for 85.0% of the total Internet users. The number of mobile online payment users has reached 765 million, an increase of 182 million over the end of 2018, accounting […]
As of May 11 2020, 107.792 million students have resumed school classes, accounting for 39% of the total number of students in China, according to the Ministry of Education.
China is the largest robotics (including drones) market in the world. It is expected to account for 38% of the global total in 2020, with a total expenditure of US$47.38 billion according to IDC. By 2024, China will account for 44% of the global market. And, it will reach US$121.12 billion. IDC believes that in […]
Labor’s Day holiday is one week away as China welcomes its first major holiday since the COVID-19 outbreak. Once a golden week lasting 7 days, Labor’s Day 2020 will last for 5 days starting on the first day of May.
Wuhan city government announced last Friday that it has officially launched “Wuhan Purchase 2020 consumption promotion campaign” with WeChat Pay and other platforms, which will issue 500 million yuan (US$70.73 million) of shopping vouchers.
65% of Chinese consumers have postponed or canceled their traveling due to the impact of COVID-19, according to a survey by Strategy Analytics. 43%, 41%, and 37% have postponed or canceled the holidays, automobile purchases, and smartphone purchases respectively. Smartphones and 5G were not immune from delayed purchasing in China. 37% have delayed a new […]
The quick spreading of coronavirus has totally changed China’s usually busy and cheerful Lunar New Year period: people were required to stay at home, inter-city transportation has been largely reduced, international flights have been cut down to minimal, almost everyone has canceled their travel (unless they were already overseas), visiting friends, and out-of-home activities. Schools […]
While most industries are hit by the novel coronavirus outbreak (COVID-19), some sectors in China besides the e-commerce (especially fresh food e-commerce) sector see a boost. Find out how businesses in entertainment, healthcare, and real estate are responding as well as the live streaming’s being vastly adopted as a sales and marketing tool in China. […]
The coronavirus outbreak is leading to the huge adoption of remote working in China. Chinese technology companies such as Alibaba, Tencent, and Baidu have long been technically ready for their staff to work outside the office. But, remote working to the majority workforces in China remains new and uncomfortable.