In the first half of 2020, a total of 72 property insurance companies launched Internet insurance business, and the accumulated premium income of Internet property insurance totaled 37.112 billion yuan, a year-on-year decrease of 2.73%, according to data from China Insurance Industry Association. This is another negative growth state of Internet property insurance business after […]
35.7% of China internet users purchased insurance and 33.7% don’t have any insurance policies according to a Tencent survey. China internet users buying insurance for the first time are getting younger. Post-60s and post-70s, those born between 1960 and 1979, were over 30 years old at their first purchase. For post-80s, the average first-time insurance […]
The market value of China’s sharing economy sector reached 4.5 trillion yuan (about US$680 billion) in 2017, compared with 3.45 trillion yuan in 2016. It is expected to maintain an annual growth of about 40% over the next few years, according to China’s State Information Center. Chinese are more engaged with the sharing economy, both […]
What you can find in the “9 cell grid” of WeChat Wallet interface are the highly valued self-owned and third party services. The already crowded “9 grid” is having a new addition.
The gross domestic product (GDP) of China was 18,068.3 billion yuan (US$2,626.81 billion) in the first quarter of 2017, a year-on-year increase of 6.9% at comparable prices according to the preliminary estimates of National Bureau of Statistics of China.
The total e-commerce transactions of fund market in China is estimated to reach 11.2 trillion yuan (US$1.63 trillion) in 2016; it’s estimated to double the current amount to 26 trillion yuan (US$3.78 bn) in 2020.
Monthly active users of WeChat reached 762 million as of March in 2016 and has become a major platform for social communication.
Online insurance in China maintained strong development and online insurance premiums grew by 169.5% to 72.8 billion yuan (US$11.25 billion) in 2015 according to iResearch.
In 2014, Tencent’s mobile revenue reached 22.171 billion yuan (US$3.571 billion) with popularization of WeChat. Now WeChat and Weibo are the two most active mobile apps in China. WeChat is a relatively new app compared with Weibo, but it far surpassed weibo in the number of users and monthly usage.
Alipay is actively expanding its business into insurance businesses with new version 8.2 offering four types of insurance packages.