Pressure on local competition
According to Counterpoint Research, during the first six weeks of this year, sales of iPhones in China decreased by 24% in relation to year-to-year (r/r), which made Apple fall 4th among local smartphone manufacturers.
HuaWei (chin. 华为) advanced to second place, with a sales increase of 64% y/y. Importantly, this occurred at a time erstwhile full telephone sales fell by 7% y/y, and it was a time of buying fever before the Chinese fresh Year.
Not much, according to the China Academy of Information and Communication Sciences (chin. 中国信息通信研究院) data, in January this year iPhone sales decreased by 38.9% y/y and in February by 33% y/y.
Another U.S. giant on the Chinese market, Tesla, besides noted a decline in sales of cars produced in the Giga-factory in Shanghai in February. By 19% y/y. This is the largest drop since December 2022.
The expanding share of Chinese car marketplace is achieved by national brands. In the case of electrical cars, the leader is BYD (chin. 比亚迪), which in the last 4th of 2023 overtakes Tesla as the world's largest electrical vehicle seller.
Both Apple and Tesla offer large discounts and another incentives to Chinese buyers, but they do not lead to the expected increase in sales.
Source:
- m.chinanews.com
- baijiahao.baidu.com
- m.gasgoo.com
Greater limits for foreigners
The People's Bank of China (chin. 中国人民银行) increased the limits of individual transactions for abroad users utilizing Chinese mobile payments in the country of Alipay (chin. 支付宝) and WeChat Pay (chin. 微信支付) from $1,000 to $5,000. This is all part of the latest efforts to revive the tourism market. Foreigners arriving in China can usage abroad credit cards (Visa, Master Card and others) utilizing these applications.
Source:
- cctv-cmpany.net
- mp.weixin.qq.com
Real estate, social issues
The real property crisis is not only an economical problem but besides a social problem, as nearly 60% of the property of households in China is real estate. Any possible deterioration of their values may harm most Chinese people.
Infographics: think-tank CaiXin investigation (chin. 财新智库), data year 2023
Author: 梁安基 Andrzej Z. Liang, 上海 Shanghai, 中国 China
Email: [email protected]
Editorial: Leszek B.
Email: [email protected]
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