Pinduoduo revenues up 65% in Q3 2022
Pinduoduo’s total revenues in the third quarter were RMB35,504.3 million (US$1 4,991.1 million), an increase of 65% from RMB21,505.8 million in the same quarter of 2021. Operating profit in the quarter...
View ArticleChina domestic tourism revenues down 27% in the first three quarters of 2022
In the first three quarters of 2022, the total number of China’s domestic tourists reached 2.094 billion person-trips, a year-on-year decrease of 595 million or 22.1%, according to a survey conducted...
View ArticleShort video app Kuaishou e-commerce GMV up 27% in Q3 2022
The average DAUs on Kuaishou app was 363.4 million in Q3 2022, representing an increase of 13.4% YoY from 320.4 million in Q3 2021. The average MAUs on Kuaishou app were 626.0 million in Q3,...
View ArticleTencent highlights for Q3 2022
The number of monthly active users (MAU) of WeChat grew slightly to 1,308.9 million in the third quarter of 2022, according to Tencent’s quarterly results. Smart device MAU of QQ was 574.4 million....
View ArticleChina has 67% market share in the world’s new energy vehicles market in Sep
From January to September 2022, the sales volume of generalized new energy vehicles in China reached 9.98 million, including 2.76 million hybrid vehicles, accounting for 28%, according to Passenger...
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Tencent launched search ads on WeChat
The WeChat advertising team announced the launch of WeChat search advertising on 3 November 2023, which supports competitive promotion capabilities. According to WeChat, search ads will support six...
View ArticleChina smartphone shipment in Q3 2022; total shipments down 12%
In the third quarter of 2022, the Chinese smartphone market shipped approximately 71.13 million units, down 11.9% year-on-year, according to data from IDC. Although the decline narrowed for the first...
View ArticleChina GDP 3.9% in Q3 2022
According to preliminary estimates of the National Bureau of Statistics of China, the gross domestic product (GDP) in the first three quarters reached 87,026.9 billion yuan, up by 3.0 percent year on...
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Alibaba to shorten presale period of this year’s Double 11 festival
This year, Alibaba’s Tmall Double 11 pre-sale will start at 8:00 p.m. on October 24. Compared with the pre-sale started on October 20 or 21 in previous years, the pre-sale time of this year’s Double 11...
View ArticleTop 3 private traffic platforms for merchants in China
WeChat, Alipay, and short video platforms (Douyin, Kuaishou, etc) have become the most important platforms for Chinese merchants' private traffic operation according to a report from iResearch. More...
View ArticleChina Fashion Industry in the Next Decade
The domestic demand for shoes and clothing in China has continued to grow rapidly and has leaped to the largest single footwear and clothing consumer market in the world, accounting for a quarter of...
View ArticleChina wearable device shipment down 23% in Q2 2022
In the second quarter of 2022, the shipment of China's wearable devices market was 28.57 million units, a year-on-year decrease of 23.3%, according to data from IDC. Among them, the earphone market...
View ArticleWhy are Chinese sportswear brands launching coffee products?
It is not new for Chinese shoe and apparel brands to get involved in coffee, tea, and even catering products and services. Earlier, some luxury fashion brands tried to sell coffee drinks in the store....
View ArticleAR, VR trends in China; shipment totaled 586,000 units in H1 2022
In the second quarter of 2022, China's AR (augmented reality) / VR (virtual reality) head displays shipped 309,000 sets, including 12,000 sets of AR and 297,000 sets of VR. In terms of VR, standalone...
View ArticleChinese video platform Bilibili MAU up 29% in Q2 2022
Bilibili’s average monthly active users (MAUs) reached 305.7 million in Q2 2022, a 29% increase from the same period in 2021. The average daily active users (DAUs1) reached 83.5 million, a 33% increase...
View ArticleBaidu Q2 2022 on AI, autonomous driving; Baidu app MAU up 8%
Baidu Core generated RMB23.2 billion in revenues in the second quarter, while Baidu AI Cloud revenues maintained rapid growth momentum of 31% year over year and 10% quarter over quarter Baidu Operation...
View ArticleChinese Quora Zhihu paying users grew by 78% in Q2 2022
In Q2 2022, China’s Quora Zhihu’s user base discontinued its growth, with average MAUs increasing by 12.3% year-over-year to 105.9 million. The average MAUs for the year 2021 was 95.9 million. Zhihu’s...
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Weibo MAU grew to 582 million in Q2 2022; revenues down 22%
Weibo’s monthly active users (“MAUs”) were 582 million in June 2022, a net addition of approximately 16 million users on a year-over-year basis. Mobile MAUs represented 95% of MAUs. The average daily...
View ArticleJD retail business highlights for Q2 2022; revenues up 5.4%
JD.com’s annual active customer accounts increased by 9.2% to 580.8 million in the twelve months ended June 30, 2022 from 531.9 million in the twelve months ended June 30, 2021. During Q2, JD.com’s...
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Meituan revenues up 16% in Q2 2022
Meituan’s Q2 revenues increased by 16.4% to RMB50.9 billion from RMB43.8 billion for the same period of 2021. Its core local commerce segment achieved an operating profit of RMB8.3 billion, up from...
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