China’s spending on research and development (R&D) grew faster in 2017 as the country continued to push for innovation-driven development. Preliminary calculations showed that R&D spending rose 11.6 percent year-on-year to 1.75 trillion yuan (about 280 billion U.S. dollars) in 2017, 1…
China’s sales of fast moving consumer goods, such as packaged food, beverage and cosmetics, recorded the highest annual growth in three years in 2017 at 4.3 percent, with online sales volume rising 29 percent, according to Kantar Worldpanel. Retailers are adopting new…
China’s offline retail is embracing new opportunities as e-commerce is presenting innovative consumption experiences for the country, said People’s Daily in a Monday report. According to recent statistics released by China’s Ministry of Commerce (MOFCOM), the sales of 2,700 key typical retail…
Denis Koreshkov waited only one night before getting his business license in south China’s Hainan Province. The 34-year-old Russian engineer and his business partners were amazed at the administrative efficiency. The office of his company in Hainan Software Park in Chengmai County,…
People select food products imported from Britain at an Ito Yokado department store in Beijing. In their competition with online giants, which have recently expanded to offering fresh food in physical stores, traditional brick-and-mortar retailers are gearing up to secure their market…
Game developers at Perfect World, a Beijing-based game company Consider playing video games is simply a waste of time and money? You may need to think again. Those thousands of hours spent playing video games, especially if supplemented with a degree in…
China’s economy expanded 6.9 percent in 2017, picking up pace for the first time in seven years. GDP totaled 82.7 trillion yuan (about 13 trillion U.S. dollars) in 2017, up from around 41.3 trillion yuan in 2010, when China first overtook Japan.…
Revenue of China’s catering industry in 2017 is expected to reach 3.9 trillion RMB ($607 billion), according to a report by China’s Cuisine Association (CCA) on the country’s food consumption. The revenue stood at 3.23 and 3.58 trillion RMB in 2015 and…
Mobile games revenue in the Chinese market in 2017 reached $14.6 billion, beating the United States market, which recorded $7.7 billion revenue, CBN Daily reported Friday, citing a whitepaper released on the China Digital Entertainment Industry Annual Summit. China’s gaming industry leader…
China’s producer price inflation eased in December on government restrictions for polluting industries, official data showed Wednesday. The producer price index (PPI), which measures costs for goods at the factory gate, rose 4.9 percent year on year in December, said the National…
