Chinese purchased €47 billion of luxury goods on the mainland, which was roughly three times what they spent on these goods overseas.

China’s tea culture has undergone drastic changes in recent years as companies have rebranded the once-staid beverage as a high-end, fresh, and healthy consumer experience. The resulting products, known colloquially as “new-style teas,” are big business. 

China’s imports of cosmetics from Japan in 2020 soared more than 30 percent from the previous year to about $4.3 billion, surpassing $3.3 billion from South Korea and other major suppliers such as France and the United States, according to the Japan External Trade Organization.

A consumer expo in Hainan underscored that Hainan’s free trade port will likely become the largest free-trade port in the world, as long as its current growth trajectory continues.

Ninety-one percent of prospective Chinese overseas students said they still plan to study abroad while 92 percent of existing overseas students plan to return to their schools abroad in the near future, according to the annual Report on Chinese Students’ Overseas Study.

Alibaba’s Taobao Live reveals it did $60B in GMV last year, putting its nose ahead of Kuaishou (~$58B). While it didn’t set a GMV target, it aims to help 2,000 channels and 200 merchants reach sales of CNY 100M this year.

According to a white paper from JD, a number of Chinese consumers are considering replacing their home appliances during the upcoming 5-day May Day Holiday (May 1-5).

AgencyChina’s Research & Strategy Manager, Michael Norris, was quoted in this piece on Douyin’s e-commerce push. Douyin has set the ambitious goal of tripling the amount it transacts through its platform this year.