ChinaCache

Meanwhile in China: Weekly News Roundup [10/2-10/6]

  • One in three unicorns is now being born in China

    So far in 2017, 12 of the 33 new $1 billion startups around the world are in China. More than a quarter of new unicorns have been created in China since 2010. The rise comes as a flood of private capital has lifted startup valuations around the world, and China’s economy begins to mature into a more advanced service economy.

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Source: Quartz

 

  • China’s Oppo to build 550 service centers in India by year-end

    credit: Getty Images

    Chinese smartphone company OPPO is betting big in India, with plans to build 550 service center across the country by the end of 2017. According to the Business Standard newspaper, Oppo aims to invest about 22 billion rupees in a new manufacturing facility in northern Uttar Pradesh state, where it already has an assembly unit that started operations a year ago.

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Source: Nikkei Asian Review

 

 

 

  • China’s overseas travelers are increasingly opting for experiences over shopping

During the 8-day Chinese National Holiday, also known as the Golden Week (October 1-8), a record number of Chinese travelers are heading overseas. Instead of spending most of their vacation time with retail therapy, many of these travelers are instead going for experiences – sightseeing to get to know the people and cultures of the destination, dining on local cuisine as well as rest and relaxation.

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Source: Web In Travel

 

  • Chinese tech giants are selling groceries

Two years before Amazon swallowed Whole Foods, Alibaba already tapped in selling grocery with both a virtual and physical presence.  It quietly started rolling out the stores two years ago “because no one was watching and we wanted to try it out,” Vice Chairman Joe Tsai said at a conference in Hong Kong last week.

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Source: CNN