More and more Chinese consumers started to sell their idle items in recent years, and there has been a significant increase in the number of second-hand transactions conducted directly through the internet, according to Chinese media. The second-hand e-commerce transaction scale in 2023 amounted to RMB548.65 billion, up 14.25% YoY, the report quoted data from Chinese e-commerce platforms as saying. The user scale was 580 million, up 25...
Galaxy Securities believes that export concerns are emerging, and growth-stabilizing policies need to be strengthened. With consumer spending remaining sluggish in the first half of the year and real estate investment continuing to bottom out, foreign trade's contribution to the economy has become increasingly prominent. If export growth slows down in the future, policies will need to be further strengthened to meet the annual economic growth target, and new policies and tools may be directed t...
$PDD Holdings (PDD.US)$'s Temu faces allegations of operating as a data-theft business masquerading as an online marketplace, accused of deceiving users by offering low-priced goods while surreptitiously collecting extensive personal data. The lawsuit claims Temu bypasses privacy settings to access cameras, location, messages, and biometric information on devices, allegedly selling this data to third parties without consent. It's also accuse...
$PDD Holdings (PDD.US)$Temu's global expansion strategy is at a critical juncture, with its market potential and profitability prospects drawing significant attention. Morgan Stanley believes the platform could achieve profitability as early as 2025, with substantial GMV growth potential, possibly reaching $130 billion by 2030. $Pinduoduo Concept (BK0724)$$BABA-SW (09988.HK)$$JD-SW (09618.HK)$
Market Growth: Between May 20 and June 3, Chinese e-commerce platforms saw double-digit YoY growth in daily active users. Simplified Sales: Platforms simplified 618 shopping festival sales, eliminating pre-sale segments and offering early discounts, boosting GMV in May. Platform Performance: Taobao Tmall ($BABA-SW (09988.HK)$): 370,000 small and medium-sized merchants more than doubled GMV YoY on...
The second-hand e-commerce transaction scale in 2023 amounted to RMB548.65 billion, up 14.25% YoY, the report quoted data from Chinese e-commerce platforms as saying. The user scale was 580 million, up 25...
With consumer spending remaining sluggish in the first half of the year and real estate investment continuing to bottom out, foreign trade's contribution to the economy has become increasingly prominent. If export growth slows down in the future, policies will need to be further strengthened to meet the annual economic growth target, and new policies and tools may be directed t...
Imports +6.6% y/y
Trade balance at $84.65 bln in USD term, Est.$99.2 bln
Exports +7.0% y/y, Est. +9.5%
Imports +7.2% y/y, Est. +3.0%
China's Jan-Jul exports +4.0% y/y, imports +2.8% y/y, trade surplus $518 billion, +7.9%. (in USD terms)
Jan-Jul exports +6.7% y/y, imports +5.4% y/y, trade surplus 3.69 trillion yuan, +10.6%. (in $CNY terms)
$BABA-SW (09988.HK)$ $Alibaba (BABA.US)$ $JD.com (JD.US)$ $JD-SW (09618.HK)$ $PDD Holdings (PDD.US)$ $Pinduoduo Concept (BK0724)$
$Alibaba (BABA.US)$ $ALIBABA GROUP HOLDING LTD (BABAF.US)$ $BABA-SW (09988.HK)$ $Pinduoduo Concept (BK0724)$ $PDD Holdings (PDD.US)$ $Amazon (AMZN.US)$
The lawsuit claims Temu bypasses privacy settings to access cameras, location, messages, and biometric information on devices, allegedly selling this data to third parties without consent. It's also accuse...
$Pinduoduo Concept (BK0724)$ $BABA-SW (09988.HK)$ $JD-SW (09618.HK)$
...
$ALIBABA GROUP HOLDING LTD (BABAF.US)$ $Alibaba (BABA.US)$ $BABA-SW (09988.HK)$ $JD-SW (09618.HK)$ $JD.com (JD.US)$ $PDD Holdings (PDD.US)$ $Pinduoduo Concept (BK0724)$
Simplified Sales: Platforms simplified 618 shopping festival sales, eliminating pre-sale segments and offering early discounts, boosting GMV in May.
Platform Performance:
Taobao Tmall ( $BABA-SW (09988.HK)$ ): 370,000 small and medium-sized merchants more than doubled GMV YoY on...
- Pinduoduo's 2023 GMV: ¥4.05 trillion.
- Douyin E-commerce's 2023 GMV: Approximately ¥2.7 trillion (though initially reported as ¥2.2 trillion, the higher figure includes contributions from "product cards").
- Douyin E-commerce's 2024 GMV Target: ¥4 trillion, nearly a 50% increase from 2023.
Comparison with Major E-commerce Players:
- Alibaba's 2023 GMV: ¥7.2 trillion.
- Pinduoduo's 2023 GMV: ¥4.05 trillion.
Strategic Moves:
- Price...
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