China’s financial sector used to be famous for its poor service and imperviousness to innovation. Even today, when customers go to make a transaction at one of the country’s big state-run banks, they often take a bag of snacks with them—they know they’re in for a long wait. But things are changing fast in the Middle Kingdom. A new generation of digital finance firms is taking the country—and the global markets—by storm in everything from digital payments and micro-lending to insurance and wealth management. How will China’s lumbering state-run banks react? Will tightening regulation nip this revolution in the bud?
Each year Alibaba breaks a new record on Singles Day, the 24-hour online shopping extravaganza has now become a celebratory annual event. The rise of online ecommerce has transformed the way Chinese people shop. According to 2015 e-commerce stats, 46% of Chinese people buy groceries online, 30% people made impulse buys, and $ 333 billion purchase were conducted on mobile devices. The online shopping phenomenon, on one hand, is hurting retail, on the other is fostering a multi-billion dollar express delivery business. With 8,000 express companies national wide, China’s express delivery market was worth $ 42.1 billion in 2015.
Unlike parent company Lenovo, ZUK is trying to woo youngsters and blaze its own path. To do that it is immersing its engineers in their environment and involving youngsters in the conceptualization and design process.
Alibaba’s investment in Suning is a signal that companies in retail in China need a multichannel strategy: embracing both the online as well as offline worlds.
During his whistle-stop trip to the US, Alibaba founder and Executive Chairman Jack Ma is busy courting small businesses
Social media can be a great tool for marketing in the moment. Also the worst.
Several companies—from tech giants like Alibaba to durables manufacturers like Haier—are betting big on the Smart Home market in China. Who’s doing what?
Smart Home technologies are out to change the way we live and make our life more efficient.
Chinese e-commerce companies like Alibaba and JD.com are finding a lucrative opportunity in rural areas. But what kind of strategies will work there?
This week, new data on the Chinese economy painted a bleak picture; the Shanghai Composite Index surged (again); and a Chinese company bought Segway.