Chinese e-commerce giants try to lure in customers with attractive salesHistorically, e-commerce has accounted for a hefty chunk of China's retail spending.
AdvertisementIn 2023, online retail sales nationwide reached $2.12 trillion, accounting for 27.6% of the total retail sales of consumer goods in the country, according to the National Bureau of Statistics.
China's youth unemployment rate stood at 14.9% as of December, according to China's National Bureau of Statistics.
And the average per capita income in China in the first quarter of 2024 was $905, according to the National Bureau of Statistics.
Figures from the National Bureau of Statistics showed that new home prices in 70 major Chinese cities were down 0.7% from April.
Persons:
—, they've, Alibaba, JD.com, Allison Malmsten, Yaling Jiang, they're, Jiang, Evergrande
Organizations:
Service, Business, CNBC, National Bureau of Statistics, Apple, Daxue Consulting, National Bureau, Statistics
Locations:
China