Headlines From China: 5 Trends From McKinsey & Co.’s 2021 China Consumer Report

5 Trends From McKinsey & Co.’s 2021 China Consumer Report

McKinsey & Company released its “China consumer report 2021. Understanding Chinese Consumers: Growth Engine of the World,” which explains how the COVID-19 pandemic has changed Chinese consumption. The report also touches upon key trends that are currently shaping the Chinese economy. McKinsey’s consumer sentiment survey highlights how net optimism during China’s economic recovery has reached 50 percent, as compared with 22 percent in the US, and stands in clear contradiction to the gloomy perspective prevailing in Europe. China’s shift toward a domestic consumer market and its economic “decoupling” from the US have also drastically impacted global supply chains. Read more Jing Daily

Bilibili Marks Another Significant Revenue Growth in Q3 2020

The leading video sharing platform for young generations in China—Bilibili (aka Station B) has just published its unaudited 2020 Q3 financial report. According to the report, the company has raked in a total of RMB 3,225.7 million (USD 475.1 million) for its Q3 revenue, which marks a 74% increase from the same period in 2019. The average monthly active users (MAUs) number also reached 197.2 million, representing a 54% increase from the same period in 2019. Most importantly, the website’s average monthly paying users (MPUs) has also reached 15 million, which marks a significant 89% increase from the same period last year. Read more piaofangtoushijing