INNOVATION ACCELERATION PROGRAMME BATCH2
NEW CONSUMPTION IN CHINA
WHAT'S IN IT FOR YOU?
Partnering with Enterprise Singapore, we are launching the 2nd batch of China-Singapore Innovation Acceleration Programme (GIA Beijing Programme), which is focused on “New Consumption in China“, 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
618 (18 June) and Double 11 (11 November) are the two largest shopping festivals in China. Both generated huge sales in 2020, indicating a further consumption recovery since the Covid-19 pandemic.
During the 618 shopping festival (1-18 June), Alibaba (Taobao + Tmall) generated a total sales of 698.2 billion yuan (US$98.5 bn). The direct purchase transactions of overseas warehouses increased by 199% YoY. As of June 18, more than 4,000 overseas brands doubled YoY growth. JD 618 total transactions reached 269.2 billion yuan (US$38 bn), up 33.6% YoY.
Double 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 bn) in GMV. While Alibaba reached RMB 498.2 billion (US$75 bn), with the participation of more than 250,000 brands including 2,600 international ones for the first time, and 800 million consumers,
WHAT IS THE NEW CONSUMPTION PROGRAMME?
The purpose of the New Consumption Programme is to help Singaporean companies to connect with China market, and turn the Covid-19 crisis into an exceptional opportunity to boost the growth of your business in China by leveraging the tech-driven new consumption trends.
WHO SHOULD TAKE PART IN THIS PROGRAMME?
TOP 4 Reasons to Participate
Bits x Bites
Sunland Law Firm
LEARN FROM CHINESE LEADING PLATFORMS
PROGRAMME PROCEDURE & TIMELINE
Contact: Yage Liu