1. While China’s trade falls in July, year-to-date figures remains stable In July, China’s imports and exports were USD 482.92 billion, down 13.6%. Exports were USD 281.76 billion, down 14.5%; imports were USD 201.16 billion, down 12.4%. The trade surplus was USD 80.6 billion, narrowing by 19.4%. In local currency terms, the results do look better. […]
1.Homegrown Luckin Coffee surpassing Starbucks to become the largest coffee house in China Luckin Coffee, a homegrown budget coffee chain in China, has outperformed Starbucks to become the country’s top-grossing coffee company for the first half of 2023. This achievement comes after Luckin became the first coffee chain in China to open 10,000 stores in […]
1. In the first half of 2023, profits of industrial companies above 20mn revenue fell by 16.8% In the first half of 2023, large-scale industrial companies (above CNY 20mn revenue) achieved business revenue of CNY 62.62 trillion (approximately $8.76 trillion), down 0.4% year-on-year. Operating costs reached CNY 53.37 trillion (approximately $7.46 trillion), up 0.5%. In the […]
Last week, General Administration of Customs of China released the data for April 2023, and I was rather shocked by the results. So lets have a look at the data and what it implies. In April 2023, China’s exports reached 2.02 trillion yuan, an increase of 16.8%, while imports were 1.41 trillion yuan, a decrease […]
What does the Auto Industry and Mobile Industry have in common? They are both gigantic, the global automotive market is around 2.9 trillion USD, while the global mobile phone market is around 0.5 trillion USD. They both have some of the most iconic brands in the world, like Apple, Samsung, Huawei or BMW, Tesla, Toyota. […]
In 2022, the Chinese Auto Market recorded another year of positive growth after 3 consecutive years of decline since 2017. Although growth in 2022 was limited, it’s still a remarkable achievement considering the microchip crisis, COVID crisis and higher battery costs in the year. However, the Chinese Auto Market is hugely complicated with more than […]