With the pandemic greatly shaping the global economy, China has emerged as Europe’s top trading partner for the first time, overtaking the United States, according to the European Statistics Office . Attributable to China’s V-shaped recovery from the pandemic, the trade between China and the EU was worth $709 billion Read more…
Who is the richest man in China? While at first most people would think of Jack Ma, the current richest man is Zhong Shanshan with an estimated $95.0 billion net worth, according to Bloomberg’s BillionairesIndex. Known as the “Lone Wolf” due to his low involvement in business groups or politics Read more…
Global e-commerce is expected to reach $6.5 trillion in sales by 2024 and Jingdong mall, better known as JD.com, is one of the top six e-commerce players in the world showing a strong growth outlook, according to Activate Tech and Media Outlook’s forecast. JD.com‘s growth is the result of a Read more…
The EV industry is growing, and, with it, many companies are emerging. Among them, prominent is NIO: a pioneer in China’s premium electric vehicle market. Since 2014, NIO has been designing, manufacturing, and selling vehicles, constantly updating them with next-generation technologies in connectivity, autonomous driving, and artificial intelligence. NIO’s Chinese Read more…
The biggest trade bloc in history The Regional Comprehensive Economic Partnership (RCEP) is a free-trade agreement between the Asia-Pacific nations of Australia, Brunei, Cambodia, China, Indonesia, Japan, Laos, Malaysia, Myanmar, New Zealand, Philippines, Singapore, South Korea, Thailand, and Vietnam. After eight years of negotiating efforts, the RCEP was signed at Read more…
Only a few months prior, China was the world epicenter of Covid-19; now being the only G20 country with positive economic growth in 2020, as estimated by the International Monetary Fund. How did China achieve these results and what will it mean for China itself and the rest of the Read more…
China’s appetite for luxury brands is well documented, but stereotypes are widely diffused. Young Chinese shoppers are presented as label-obsessed buyers, but the reality is that the love of luxury has a Confucian essence. China is ruled by collectivism. Individuals aspire to be assimilated into cohesive social groups and luxury Read more…
Smartphone shipments in China dropped to $103 million units during the fourth quarter of 2018, down 9.7% yearly, according to report from the International Data Corporation (IDC). IDC said the drop is due to a combination of factors, including economic pressures, longer replacement cycles, and smaller wallet share. The domestic Read more…
Amazon, the largest e-commerce marketplace in the world, recently announced that it was closing its e-commerce business in China. In fact, a week ago, the company released a statement saying “We are notifying sellers we will no longer operate a marketplace on Amazon.cn and we will no longer be providing Read more…
Jack Ma, founder of e-commerce giant Alibaba, has spoken out on social media in recent days in support of the Chinese work practice known as “996.” The number refers to working from 9 am to 9 pm six days a week and is said to be common among the country’s Read more…