By March 2023, Alibaba had lost three quarters of its value from the peak in October 2020, as the e-commerce giant, once seen as China’s answer to Amazon.com, faces questions on whether it can recapture its former glory while dealing with China’s economic slowdown, regulatory scrutiny and fierce competition from old and new rivals. The … Read more
“As the pandemic gradually ends, the wedding industry has rebounded significantly, and there was a hot wave of consumption during the 2023 Mid-Autumn Festival and National Day holidays,” He said in a blog post on Saturday, referring to a spike in spending during the eight-day holiday break in September and October last year. Wedding-related spending … Read more
Mainland China’s tourist attractions reported a major spike in visitors during this year’s eight-day Lunar New Year holiday as the country aims to revive its post-pandemic travel sector. The tropical island province of Hainan has seen a huge increase in passenger traffic, with overall year-on-year growth of more than 30 per cent during the holiday, … Read more
Domestic smartphone shipments totalled 289 million units last year, compared with 272 million in 2022, according to the latest report published on Monday by the China Academy of Information and Communications Technology (CAICT), a scientific research institute under the Ministry of Industry and Information Technology. That increase was in stark contrast with the 22.6 per … Read more
Foxconn Technology Group, the world’s biggest iPhone assembler, expects revenue to decline in the first quarter of 2024 amid weak global consumer electronics demand, extending a decrease in sales in the past three months. Taiwan-based Foxconn, formally known as Hon Hai Precision Industry, did not provide an estimate on the quarterly revenue drop, but said … Read more
Veteran Yonyou executive Chen Qiangbin, 48, takes over as company president, with a focus on operations and management, according to the company. After joining Yonyou in 2000, Chen was involved in software development, sales and then served as general manager at the firm’s branch offices in Beijing, northern Hebei province and southwestern Sichuan province. Yonyou … Read more
