China News

Ant Group Refunds US$ 2.8 Trillion to Shanghai Investors after IPO Suspension.Alibaba joins US$1.1 billion investment in luxury e-tailer FarfetchChinese President Xi Jinping said the economy can double in size by 2035.Alibaba tests extended 11.11 shopping festival amid increasing competition.Douyin...

1. Taobao Live hits US$7.5 billion in first 30 minutes of presales for Singles’ Day. 2. China begins its once-a-decade population census. Population was almost 1.34 billion in 2010, and Beijing predicts it around 1.42 billion this time.   3. Economists propose 3-child-policy in China to...

China’s new law restricts transfer of personal data abroad.It’s official: ByteDance apps (Toutiao and Douyin) engage Chinese consumers longer than Tencent’s WeChat.During 11.11 the number of discounted products offered will reach 14 million, 40% more than that of 2019.Baidu launches in-app sho...

Last week 50,000 shoppers in Shenzhen tested digital RMB at 3,000 retail outlets. Ant Group's mega-IPO (largest in history) faces the threat of US sanctions. Pinduoduo jointly launched its “Super Brand Day” with Xiaodu, Baidu’s AI speaker.Meituan’s just launched its first AI Smart Store, joi...

Alibaba starts its 33 days promo before Double 11 by giving 100 million products almost for free. 😱 500,000 factories will introduce their products to consumers.Sales during this Golden Week reached RMB 1.6 trillion (US$239 billion). Average daily sales at major retailers and restaurants +4.9% Yo...