Here are this week’s news and highlights for China:
Alibaba’s Efforts for Domestic Growth: As Alibaba expands abroad, it is not forgetting its home market with a big focus on rural China and logistics.
Photos: Alibaba’s Pre-Singles Day Gala: China Skinny was kindly hosted by Alibaba for the Single’s Day Gala festivities at the Watercube in Beijing. Here are some of the photos.
Chinese Online Buyers Love Imported Goods and Promotion: Promotional pricing accounts for 14% of sales in physical stores in China, and 35% of online retail sales, helped by events such as Single’s Day. Goods aren’t always cheaper online though – the average price of toothbrushes sold online is 102% higher than in physical stores.
Michael Jackson’s Neverland Ranch Looks for Chinese Buyers via Taobao: Neverland is up for sale on Taobao with a starting price of ¥500 million ($79 million). It follows the sale of a $258 million luxury resort in southern Portugal which sold via a Taobao auction in July.
Social Users in China Share Personal Thoughts: The most popular content shared by Chinese social media users aged over 20 are personal thoughts (36.8%), daily life photos (32%), dining and travel photos (26.8%) and comedy and jokes (26.8%) according to Tencent Penguin Intelligence.
A Harder Road Ahead: “Multinationals are no longer sitting comfortably at the very front of the plane, but compared with Chinese firms, they are “still flying in business class,” says Xiang Bing, dean of Beijing’s Cheung Kong business school.
China Rolls Out ‘Emergency Teams’ to Knock Out Disney Knockoffs: Chinese authorities have launched a year-long special campaign to protect Disney’s trademarks in advance of opening their $5.5 billion Disney theme park in Shanghai. 86% of U.S. businesses surveyed by AmCham believe trademark enforcement is improving in China. Disney is also getting special treatment with the government shutting down local polluters, helping to form a Disney-themed firefighting force and issuing custom weather reports for planning events such as parades and fireworks shows.
Business is Booming for Australian Wines in China: Australian wines have seen average prices rise 25.2% and volume increase 20.5%, helped by greater interest from Chinese consumers on the back of the FTA. 39% of Chinese now buy wine for health reasons, up from 31% last year.