China, known for its increasing population, was ignored till a couple of decades ago is now emerging as a powerful country, out beating many other countries in many areas. The impact of the powerful ‘Online World’ is quite unpredictable and beyond anybody’s imagination. It’s worth reviewing some analytical data about the country China. The data covers all areas of internet usage.
Largest Internet user’s in the world: Today, China has over 50% of the country’s population is online. The number of internet users were steadily growing since 2009. In terms of numbers, with 688 million people are now online and this takes the country to the top spot, “Country with the largest number of internet users in the world”.
Wealth management: With growing internet usage, wealth management has become a key area of growth in China. Stocks trading has 54% growth with online payment 37% and banking 19%. According to some report, Chinese people trust in online finance tools in the Chinese market. Only 12% of respondents were investing in products offered by traditional banks but 45% in internet based wealth management tools
70% internet users prefer mobile: Of these new users, 7/10 prefer mobile and are accessing the internet for the first time on their phones. This shows the Chinese internet population to be predominantly mobile native, which could help explain the huge amount of success that mobile commerce is experiencing in the country.
Instant messaging: Chinese internet users love to use instant message. WeChat has an extremely well developed mobile commerce offering is the popular messaging tool in China. Chat platforms are the most installed on Chinese phones. WeChat is number one, with 81% of mobile phone owners using about 650 million active users; QQ, another chat app in second position.
Ecommerce gaining momentum: China is a mobile-first, lucrative market in terms of e-Commerce. About 96% of Chinese internet users shop online at least once a month. By 2020, China’s e-Commerce market is forecast to be larger than those of the US, Britain, Japan, Germany, and France combined.”
Mobile shopping on “Single’s Day”: Online giant Alibaba – who hold 80% of the Chinese e-Commerce market, started promoting China’s Singles Day as a shopping day in 2009 and it is now the biggest online shopping event of the year, on 11th November. More than 27 million sales came from mobile in first hour.
If the powerful Online World has created so much impact on the internet usage activities of China alone, it is beyond our prediction on its global impact.