Dating back to 1935, China’s system of five-year plans has long been dismissed as anachronistic, but it remains crucial to guidance of the economy
This year Alibaba broke all records on Singles Day with sales of $14.3 billion. Singles Day, or China’s Black Friday, was first invented by Alibaba in 2009. The idea was to create an annual sales event with crazy discounts supposedly for those who are single. (The fact that everyone, irrespective of their romantic status, jumped in and shopped is a different matter altogether.) This year a whopping 95 million users joined the cyber shopping fest. In other words, approximately almost one out of eight people in the world clicked the “buy” button on Alibaba’s marketplaces. What did it take to pull this off?
China’s internet world is ruled by three big players: Baidu, Alibaba and Tencent, collectively known as BAT. The three companies generated revenues of $20 billion in 2013 and $8.16 billion in the third quarter of 2014. The big three account for a significant, and perhaps disproportionate, share of China’s internet market. Another technology company that has risen to prominence pretty quickly is Xiaomi. BAT and Xiaomi are quickly making inroads into new areas outside their core business—by either investing in or acquiring companies. Take a look at the brand and companies that are backed by these four companies.
If there’s one activity that unites China’s subway commuters, it’s huddling over their smartphone screens to watch the latest local, South Korean or Western TV shows downloaded or streamed from one of China’s many video websites. They’re part of a wider trend where more and more consumers are heading online to find their entertainment, and government statistics show music and video are the fourth and fifth most popular uses for the internet, respectively. But for all the prodigious growth, monetizing the interest has been a different matter. That is largely due to a pervasive culture of free, on-demand content, but that may be set to change.
China’s DJI holds a commanding lead in the red-hot consumer drone market. Can it maintain that?
Can China become a global leader in the Internet of Things?
With companies like Baidu, Alibaba and Tencent branching out into new areas, China is witnessing the rise of a new breed of digital conglomerates.
Companies are abandoning the age-old tradition of the annual performance review. What can possibly replace it
As China’s tech giants expand and diversify, a new era of digital conglomerates is dawning.
From stats on online gaming revenues to tier-one home sales, the China data you need to know. Anyone travelling by subway in China will notice one thing: nearly everyone is busy with their smartphone. For some it is social media and for others it is games. It’s no wonder then that online gaming is soaring in popularity. […]