stories on Nostr: China's Double 11 Shopping Festival Boosts Consumption and Signals Economic Recovery ...
China's Double 11 Shopping Festival Boosts Consumption and Signals Economic Recovery ( #46739331 , v0.05)
China's annual 11.11 'Singles' day' e-tail frenzy, also known as the Double 11 shopping festival, has demonstrated the robust recovery of the country's domestic consumer market. Alibaba's Taobao and Tmall Group reported year-on-year growth in Gross Merchandise Value (GMV), number of orders, and participating merchants during the sale period. JD.com also experienced record-high transaction volume, order volume, and user engagement. The State Post Bureau recorded a significant increase in express courier delivery, reflecting the steady progress of China's consumer market. Consumption has become a crucial driver of China's economy, contributing 83.2% to GDP growth in the first three quarters of the year. The government's measures to boost consumption, such as in the automobile and household appliance sectors, have yielded positive results. China's robust consumption is also evident in foreign trade and fair activity. The country's foreign trade increased in October, ending a four-month declining streak, and the China International Import Expo (CIIE) achieved a record high of tentative deals. As related policies continue to deliver results, China's consumption potential will be further unleashed, driving both domestic and global economic growth.
#Double11 #China #consumermarket #e-commerce #GrossMerchandiseValue #JD.com #Alibaba #StatePostBureau #foreigntrade #ChinaInternationalImportExpo
References:
- SHINE: https://www.shine.cn/biz/economy/2311131905/
China's annual 11.11 'Singles' day' e-tail frenzy, also known as the Double 11 shopping festival, has demonstrated the robust recovery of the country's domestic consumer market. Alibaba's Taobao and Tmall Group reported year-on-year growth in Gross Merchandise Value (GMV), number of orders, and participating merchants during the sale period. JD.com also experienced record-high transaction volume, order volume, and user engagement. The State Post Bureau recorded a significant increase in express courier delivery, reflecting the steady progress of China's consumer market. Consumption has become a crucial driver of China's economy, contributing 83.2% to GDP growth in the first three quarters of the year. The government's measures to boost consumption, such as in the automobile and household appliance sectors, have yielded positive results. China's robust consumption is also evident in foreign trade and fair activity. The country's foreign trade increased in October, ending a four-month declining streak, and the China International Import Expo (CIIE) achieved a record high of tentative deals. As related policies continue to deliver results, China's consumption potential will be further unleashed, driving both domestic and global economic growth.
#Double11 #China #consumermarket #e-commerce #GrossMerchandiseValue #JD.com #Alibaba #StatePostBureau #foreigntrade #ChinaInternationalImportExpo
References:
- SHINE: https://www.shine.cn/biz/economy/2311131905/