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China AR, VR markets forecast 2020-2024;total spending to exceed US$20 bn
The AR and VR related investment in the China market will reach US$4.09 billion in 2020, 65.9% higher than that in 2019, higher than the global average growth rate of 35.3%. The overall market...
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China’s cloud computing market in Q1 2020; the top 4
China’s cloud infrastructure services market grew 67.0% year on year in Q1 2020, according to Canalys. Alibaba, Huawei, Tencent, and Baidu lead with a combined market share of 81%. Cloud infrastructure...
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Meituan-bakced EV Li Auto to raise US$950M in US IPO
Meituan-bakced EV Li Auto aims to raise US$950 million in its initial public offering of 95,000,000 American depositary shares, or ADSs. Li Auto anticipates that the IPO price per ADS will be between...
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Alibaba B2B platform GMV up 80% in the first half of 2020
Alibaba Group’ international B2B platform Alibaba.com transacted 80% more in the first half of 2020 compared with a year earlier. Orders placed on Alibaba.com nearly doubled (+98%) in the six months...
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JD reached 15,000 home appliance stores in H1 2020; market share up to 29%
The number of JD Home Appliance Stores, Jingdong's offline home appliance stores for lower-tier markets, has surpassed 15,000 in the first half of 2020. JD started building JD Home Appliance Stores in...
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JD Worldwide saw 50% growth in total female shoppers in H1 2020; sales up 70%
Data from JD Worldwide, JD’s cross-border import e-commerce platform, in the first half of 2020 show that the number of female customers on the platform increased by over 50%, and sales generated by...
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Burberry launched its first luxury social retail store, empowered by WeChat
Burberry launched its first luxury social retail store in Shenzhen on July 31 and Tencent provides technical support empowering “Retail store + social networking”. The WeChat Mini Program “Burberry...
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Fortune: Top 500 Chinese Companies; Top 10 account for 40% total profit
Fortune China recently released the Fortune 500 list for 2020, which takes into account the performance and achievements of the world’s largest listed Chinese companies in the past year. This year, the...
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An overview of China EV market
While electric vehicles only accounted for 2.6% of global car sales last year, this is an all-time high for the industry. It's been growing steadily at a rate of about 40% each year, so don't count...
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The secret recipe of TikTok e-commerce in China
Douyin (Chinese version of TikTok; referred as TikTok below) has a GMV target of 200 billion yuan for its live-streaming e-commerce channel in 2020 according to Chinese media 36Kr. In 2017, after the...
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Over 10K FMCG brands sales 2x on JD in H1 2020; FMCG sales up 7% in June
Over 10,000 FMCG brands achieved sales growth of over 100% on Jingdong (JD) in the first half of 2020; 200 brands achieved over 100 million yuan sales and over 20 brands over 1 billion yuan, according...
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China game live streaming market trends 2020; revenues to double by 2021
Tencent proposed that the top two online gaming streaming platforms Douyu and Huya enter into a stock-for-stock merger, as a result of which Huya or its subsidiary would acquire each outstanding...
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China’s automobile sales up 16% in July 2020; new energy vehicles up 19%
In July 2020, the production and sales of automobiles in China were 2.201 million and 2.12 million, respectively, up 21.9% and 16.4% year-on-year, according to data from China Association of Automobile...
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China EV brand NIO sales up 147% in Q2 2020
China electric vehicle maker Nio reported vehicle sales of RMB3,486.1 million (US$493.4 million) in the second quarter of 2020, representing an increase of 146.5% from the second quarter of 2019 and an...
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Tencent highlights for Q2 2020; WeChat MAU +7% to 1.2 billion
WeChat MAU grew 6.5% YoY to 1,206.1 million in Q2 2020 while another social platform of Tencent QQ saw a decrease of 8.4% YoY to 647.6 million according to Tencent’s financial results. In Q2 2020,...
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China tablet shipment up 18% in Q2; Apple has 42% market share
In the second quarter of 2020, China's tablet shipment reached about 6.61 million units, with a year-on-year increase of 17.7%, according to data from IDC. Apple ranks first in tablet shipment in Q2...
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JD acquired China’s leading procurement platform for MRO products
JD MRO, JD.com’s B2B subsidiary for industrial maintenance, repair and operations (MRO) products and services, announced its acquisition of VIPMRO yesterday, China’s leading procurement platform for...
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Meet Xiaomi’s transparent smart TV: Mi TV LUX
Xiaomi unveiled its transparent smart TV, Mi TV LUX Transparent Edition, this week. Xiaomi Smart TV: Mi TV LUX Transparent Edition Priced at RMB 49,999 (US$7,200), Mi TV LUX Transparent Edition claims...
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Netease revenues up 26% in Q2 2020
Netease saw healthy gains across its business in the second quarter of 2020, with total net revenues of RMB 18.2 billion (US$2.62 billion), up 25.9% year-over-year, driven by strong performances from...
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China retail sales decline 0.7% lower in July 2020
In July 2020, China’s total retail sales of consumer goods totaled 322.3 billion yuan, a year-on-year decrease of 1.1% (the actual decrease is 2.7% after deducting the price factor, and the following...
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