1. Big tech withheld Double 11 sales data. Alibaba and JD experienced sales growth during 2023 Double 11, but didn’t reveal exact revenues. Alibaba’s platforms saw 402 brands each surpassing 100 million yuan in GMV. JD reported over 60 brands each exceeding 1 billion yuan in transaction volume. (SCMP)
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2. Chinese elderly love K-pop? Chinese GenZ are bringing K-pop into traditional square dances. This has sparked a trend where elderly dancers are swiftly mastering the new genre. As a result, square dancing now bridges generations with a modern K-pop flair. (RADII)
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3. China’s GDP forecasts raised by IMF. The IMF has increased China’s 2023 economic growth forecast to 5.4% due to stronger policy support. This comes despite weak export data and mixed signals from retail, manufacturing, and consumer prices. (Financial Times)
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4. China’s GBA emerges as promising growth engine. The region has secured 859 investment and trade deals totalling about 2.24 trillion yuan last week. This figure highlights global firms’ belief in the Greater Bay Area as a potent growth hub, report says. (The Star)
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5. China’s consumer prices drop amid unstable recovery. China’s consumer prices fell in October, indicating demand weakness unseen since the pandemic. Data showed a 0.2% YoY CPI drop, casting doubts on an extensive economic recovery. (Reuters)
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6. Express delivery volume hits new peak in Double 11. From Nov. 1-11, express delivery companies collected roughly 5.26 billion packages, a 23.2% YoY increase. On Saturday alone, 639 million packages were collected, 1.9 times the usual volume, up 15.8% from last year. (China.org.cn)
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7. “Warm and soft” Chinese women are gone? Boxing’s popularity is rising among Chinese women, shaking up gender norms and empowering ladies. Despite criticism, many women proudly display their boxing skills on social media, embracing the “female boxer” label. The trend is driven by a shift from traditional beauty ideals to a more muscular physique. (Sixth Tone)
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