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 […]
China’s startup scene: Lively, relentless, and unmatched by anything else
China’s startup scene has its ups and downs but has never been inactive. The country has long recognized the importance of startups in boosting economy and employment, and therefore has invested in startup ecosystems. On the one hand, the huge and homogeneous Chinese market offers a natural experiment field for aspiring entrepreneurs. On the other […]
The Kindergarten and Preschool Market in China: How much Chinese parents pay for early education
The Preschool market in China reached 230 billion RMB in 2018 according to iimedia. In a culture that highly values education, drivers include the opening of the one child policy to two child policy, and the increasing ability of parents to afford pre-school. The government is also supportive of early education and has paid attention […]
Carrefour in China: 25 years of success ends with slow market exit
In China, Carrefour used to be the largest foreign retailer. However, after 24 years of operations it has taken steps to leave the Chinese market, where it was the fastest-growing among all foreign retail companies. On 23rd June 2019, Carrefour sold 80% of its share of Chinese stores to Suning International. As of March 2019, Carrefour China […]
Chinese Market Research Tools | Tech to analyze the world
With the development of information technology, investigators can record consumption actions in databases. Internet helps analysts collect such data effectively. Market research tools assist users to quickly locate what they look for and figure out recent trends. When one searches market research tools on Baidu, over 7.41 million results show there is full attention on […]
Biting into the chocolate market in China
The chocolate market in China consists of all chocolate-based products, including but not limited to boxed chocolate, chocolate candy bars, and chocolate flavors. Supermarkets and grocery stores are the two main retail channels of chocolate products in China. Online retail and specialty retail have both displayed strong growth as the distribution channels of chocolate products […]
China’s conquest of wine: Evolving wine drinking habits in China
Over the last ten years, China has been making up for lost time in terms of wine consumption, knowledge, and production. Although the country has a longer history with beer and hard liquor, wine drinking habits in China are evolving. E-commerce and westernized lifestyles: The wine market in China is changing at a quick pace […]
The liability insurance market in China: Key players, consumer perceptions and opportunities
Liability insurance belongs to the non-life insurance market in China or the property and casualty insurance market in China. It protects the insured party against claims resulting from injuries or damages to other people or property. The policies cover both legal costs and other compensations if the insured party was found legally liable. Any entity, […]
The auto insurance market in China
Brief history of auto insurance in China People Insurance Company of China (PICC) provided the first local car insurance in China in the year 1950, which ended foreign monopoly in the industry. Most consumers in China were not aware of auto insurance at inception. In 1980, auto insurance in China was gradually promoted along with […]
The property insurance market in China: a new giant is rising in the global insurance industry
The history of China’s insurance industry is remarkably long. In fact, the history of the Chinese property and casualty industry (also known as P&C insurance) can be traced as far back as 3,000 BC when traders first developed rudimentary forms of risk diversification. However, it was not until the 19th century—when foreign traders introduced insurance […]