NEW CONSUMPTION IN CHINA PROGRAMME
- GIA BEIJING PROGRAMME BATCH 2
WHAT'S IN IT FOR YOU?
Partnering with Enterprise Singapore, we are launching today the 2nd batch of GIA Beijing Programme, which is focused on “New Consumption“, one of the two key words highlighted in the 2020 Annual Report released by the China government, refers to the consumption behavior driven by digital technologies.
Double 11, which is a shopping festival held on 11.11 by leading e-commerce platforms, such as Alibaba and JD.com is the most exciting news in the China New Consumption market this month. 11.11 is the largest annual global shopping festival in the world – overshadowing Black Friday and Cyber Monday combined. JD.com total sales during Double 11 this year reached RMB 271.5 billion (US$41.02 bn) in GMV. While Alibaba reached RMB 498.2 billion (US$75.27 billion), with the participation of more than 250,000 brands including 2,600 international ones for the first time, and 800 million consumers, indicating a further consumption recovery since the Covid-19 pandemic. The festival kicked off as Taobao’s star anchors, Viya and Li Jiaqi, both started their first livestreaming at midnight on 21st October, a grand opener for the festival. Together, they generated RMB 8 billion (US$1.2 billion) worth of sales that night alone. 2020 is the Year of Livestream Shopping in China. Taobao, Kuaishou, Douyin (Chinese name of TikTok) are the three major platforms of livestream e-commerce. Their total sales in GMV this year are estimated to reach RMB 500, 250, and 200 billion respectively.
Our Programme Participants
Xiaomi sharing their success story in international markets
Lecture given by Tencent executive
Airbus Demo Day
Workshop for Thales
One on one business matching with Chinese potential partners
Israel Startup Demo Day
Russia Startup Demo Day
Lecture given by DayDayUp
Our Top-Notch Mentors
Tencent Cloud APAC.
Leo, Genping Liu