In the past five years, China’s scale of cross-border e-commerce trade has increased by more than 10 times, People’s Daily reported on Tuesday quoting He Yadong, spokesman for the Ministry of Commerce, during a news conference. In the first quarter of 2024, the cross-border e-commerce trade was 577.6 billion yuan ($79.76 billion), an increase of…
eCommerce has revolutionized the way people shop, and it has become a pervasive part of daily life across the world. As of 2023, e-commerce’s average penetration rate (i.e., the share of sales made online) was around 20% globally and is expected to be 25% by 2027. When it comes to eCommerce prominence, China is in…
Chinese tech heavyweight Alibaba Group Holding Ltd reported on Wednesday night its revenue stood at 260.35 billion yuan ($36.2 billion) during the October-December period, an increase of 5 percent year-on-year, while its net income reached 10.72 billion yuan, down 77 percent year-on-year.The company has approved an additional $25 billion to its share buyback program through…
China has remained the world’s largest online retail market for 11 consecutive years, the Ministry of Commerce (MOC) said Thursday. China’s e-commerce transaction volume totaled 43.83 trillion yuan (about 6.17 trillion U.S. dollars) in 2022, up from 31.63 trillion yuan in 2018, MOC spokesperson Shu Jueting told a press conference. Shu said that…
Project Café East Asia 2024, World Coffee Portal’s comprehensive analysis of the East Asian branded coffee shop market, reveals the total segment grew 24% by outlets over the last 12 months to reach 119,221 stores, with six of the largest 10 markets achieving double-digit outlet growth. Industry leaders surveyed across 18 East Asian markets broadly…
Alibaba and JD.com have forged a new holiday tradition by discussing anything but the revenue generated by the nation’s annual 11.11 “Singles’ day” e-tail frenzy. November 11 has long been an unofficial and slightly ironic holiday in China, as the day celebrates single life – in contrast to the many other Chinese festivals that emphasize…
“When we look into offline retail, design and architecture, it’s fascinating to see a beautiful combination of nature, humanity and business. It’s even more fascinating to see Chinese consumers are pushing the industry to think more and think outside of the box. A wonderful event brings lots of inspiration to us. Thank you CBBC for…
This article was originally published on ETFTrends.com. China continues to work out its real estate issues. But keeping the second largest economy afloat will be a thriving e-commerce business. The majority of the world is struggling with inflation and high interest rates. Yet Chinese consumers continue to spend time shopping online. “Bolstered by a remarkable…
Budweiser China is making waves in the high-end beer scene with the launch of its first-ever organic beer. Dubbed the “Brewmaster Organic”, the newly launched beverage strictly adheres to organic production standards throughout its production process. Maintaining a commitment to natural processes, the beer is free from genetically modified seeds, chemical pesticides, or fertilizers. In…
SHANGHAI, Sept 14 (Reuters) – Chinese luxury liquor-maker Kweichow Moutai (600519.SS) is again looking to diversify from its fiery baijiu spirit core business to attract a new generation of consumers via a sweet collaboration with Mars, Inc.-owned Dove. The companies jointly announced on Thursday they would release limited edition alcohol-infused chocolates, available from Saturday. Within…