Things are looking good for both WeChat and Weibo as they publish their Q3 figures, showing an increase in users and revenue. WeChat is nearing the 1 billion average daily user mark, hitting 902 million throughout September 2017. With Tencent’s commitment to development, it looks like Mini-Programs on WeChat may be undergoing a resurgence. Maimai’s battle to appeal to China’s professional social media users was boosted by a $75 million investment this week, with only about 2 million users difference between Maimai and LinkedIn, any investment could prove crucial.
Millennials in Shanghai should be the focus of luxury brands marketing efforts, according to recent statistics. The 23 to 28-age range have the largest disposable income and are ready to spend. Many Bluegogo users have been left stranded as the bike-share startup balances on the verge of collapse, and has stopped processing deposit refunds. As China’s global relevance continues to grow, the old saying of ‘Made in China’ is quickly being replaced by ‘Made for China’.
Technology is a bigger part of our daily lives than ever. More useful apps hit the market monthly and the Internet of Things (IoT) keeps expanding the ways we are connected. If you’re living a digital lifestyle then according to technode these are the top 15 apps for modern life. While you’re exploring new apps the Brand Relevance Index report says Alipay, WeChat and Android are the most relevant brands to us currently. Xi Jinping’s ‘New Era’ went viral on social media this week as celebrities showed their support with the #SupporttheNewEra hashtag.
The Chinese economy’s retail growth shows no signs of slowing as the first three quarters of 2017 show year on year growth of 10.4 percent. The global success of some cryptocurrencies hasn’t gone unnoticed, and China’s central bank is now conducting research into launching a sovereign digital currency. A digital currency has the potential to reduce costs and increase the reach of financial services in China. In light of President Xi Jinping’s speech companies in the UK are gearing up to invest in China. It is hoped new measures designed to increase foreign investment will make it easier for them to expand into the region.
According to a UK tabloid a Chinese digital detox camp has been subjecting teens to cruel practices in order to cure their Internet addiction. They claim the local authority found some of the claims to be true, and are fining the school. Someone who doesn’t need a digital detox is an 89-year-old grandmother who became a local social media star after going on a road trip to explore the northwest of our country with her son. With the release of dozens of apps China’s communist Party clearly sees apps and the Internet as a crucial battlefield to reach younger members.