Inside China’s digital yuan: Initial pilot trial of digital currency in China and its future
In October 2020, residents of Shenzhen Luohu district received unique red pockets (Hong Bao), not from their relatives or via WeChat, but from their local government. Inside these digital red pockets was China’s digital yuan. Fifty thousand lucky residents received a total of 10 million worth of digital yuan, which can be spent in over […]
12 China business events in 2021 to watch out for
These are the China business events in 2021 to watch out for, in a wide range of industries from seafood to beauty to tech. These 12 events and exhibitions are in greater China, you can find the website links in each description. Canton Fair 2021, China Import and Export Fair Source: Business Insider, Canton Fair […]
Reaching China’s 2060 carbon neutral pledge: Carbon Capture and the technologies behind it
As the COVID-19 pandemic was the main topic of discussion at the 75th United Nations general assembly, China took the world by surprise by making a bold and unexpected pledge: reaching peak carbon emissions by 2030 and achieving carbon neutrality by 2060. An ambitious plan to tackle global warming considering China is the country emitting […]
Awakening the dragon of rural consumption in China: How to tap into this Blue Ocean consumer base
The incredible popularity of Chinese short-video star Liziqi, who has 13.7 million subscribers on Youtube and 34 million on Douyin, has drawn the world’s attention to rural China. Viewers see the countryside in China as a fairyland, while Xinhuanet, China’s official press agency, described the rural market in China as a “gold mine” of consumption […]
The pesticide market in China under environmental regulations and industrial restructuring amid COVID-19
According to a report by the firm Reports and Data, the global pesticide market is predicted to reach 96.96 billion US dollars by 2027, driven by the rapid growth in population and food shortage. A 2019 study by Chinese Academy of Social Sciences forecasts that the population will peak at 1.44 billion in 2029. Mordor […]
What made Double 11 2020 break records: Sales stats and new trends
November 11th, also known as “Guang Gun Jie”, was invented at first to celebrate singles’ day, as opposed to Valentine’s Day. In order to boost sales, Alibaba turned it in to a shopping festival in 2009, in which year it earned a total revenue of 50 million RMB. From then on, each year brought more […]
6G in China is at the initial stage of development, here is what you should know
As early as 2018, The 5G Technology Working Group at the Ministry of Industry and Information Technology started research into 6G in China. This makes China one of the first countries to explore 6G technology. In November 2019, the Ministry of Science and Technology, together with other key ministries and research institutions organized a 6G […]
Lesser known ride hailing platforms in the ride hailing market in China cause tight competition
The ride hailing market in China is increasingly competitive and price-driven. Although DiDi has long held the largest share, lesser known ride hailing platforms in China are emerging to challenge the company’s dominance. With Geely’s Caocao Chuxing (曹操出行), Tencent and Alibaba-backed T3 Chuxing (T3出行), JD.com-backed Dida Chuxing（嘀嗒出行）entering the local ride hailing market with lower prices, […]
5G development in China: covering more industries and cities in 2020
The Chinese internet reaches 900 million people, most of which are mobile users, setting the foundation for success in 5G development. Forecasts show that Chinese 5G users will reach 650 million by 2023, covering around 40% of the Chinese population. Additionally, the government views 5G development in China as crucial to the country’s tech sector […]
The growing popularity of Russian products in China: Ice cream, beer, agriculture and more
Russia and China have a long history of trade relations. After Western sanctions against Russia in 2014, Russia introduced a new approach to the foreign policy – “Pivot to Asia”. As a result, China has become Russia’s largest export country for agricultural products. In 2019 the Chinese market for Russian products hit a record of […]
Market Tidbits transcript #4: Mobility market in China: services related to getting things from point A to B
Matthieu David: Hello everyone. Today, for this Market Tidbits, we are going to talk about the mobility market in China. Mobility is a big thing. We are seeing in the world Uber, but in China, we are seeing Didi and Didi won the battle over Uber in China, taking actually some shares worldwide and Uber sitting […]
The darling of China’s Southeast Seaboard: What Foreign Companies should know about Xiamen’s Economy
With three and a half million citizens in the city proper and roughly four million in the built-up area of the city, Xiamen is only the thirtieth most populated city in China. However, the city had a GDP of 600 billion yuan and a GDP per capita of 142,000 yuan in 2019. This makes Xiamen […]