Unlocking Opportunities: Exploring the Latest Developments in China’s Market

Tencent officially launched its large language model

  • Chinese tech giant Tencent officially launched its Hunyuan large language model at the company’s Global Digital Ecosystem Summit.
  • The move comes several months after fellow Chinese tech giants Alibaba and Baidu launched their own AI products.
  • The full stack self-developed Hunyuan LLM with over a hundred billion parameters is trained with 2 trillion tokens of pre-training data. It possesses strong capabilities in Chinese language comprehension, content creation, logical reasoning, and task execution.
  • In the future, the Hunyuan model will support Tencent Cloud’s MaaS (Model-as-a-Service), with customers able to directly access it through APIs and use it as a foundational model to develop applications for various industry scenarios, Tencent said.

LINK: https://www.jiemian.com/article/10057854.html

 

Publish without notification display in the homepage

  • When an article is posted, there will be two buttons, one to publish to all and one to publish without notification.
  • Publish without notification means that published content is not pushed to users. However, now the published content will be displayed on the home page of your WeChat account. The published article can also be forwarded to friends, friends in your circle, set for automatic replies, deleted, and so on.
  • Although, only fans can actively come to the home page to see the post article, if businesses publish frequently, it will end up making the home page look very busy. This then points to the need to be careful when using the post function in the future.

 

Xiaohongshu embarks on the era of “personal shoppers”, boosting social commerce

  • After the livestream momentum gained by the Chinese actress Dong Jie and subsequently KOL Zhang Xiaohui, Xiaohongshu now seeks to give influencers the official title of “personal shoppers”, stepping up efforts in social commerce.
  • The move closely follows the just concluded Red-commerce Partner Week 2023, which was hosted on August 24 in Shanghai. Touting the tagline “Entering the era of personal shoppers”, the event also marked the public debut of Xiaohongshu’s e-commerce division.
  • “Personal shoppers” would “play a crucial role in connecting merchants and consumers”. “The first things personal shoppers on Xiaohongshu need to work on is to understand the specific needs of their target audience, they are expected to direct other users to the products they are looking for.” As such, “personal shoppers” would act as upgraded KOLs, bringing together the content-focused “Community” and e-commerce ecosystems that are not yet well integrated on the platform.
  • This shows the ambition of Xiaohongshu in setting itself apart in the much-contested territory of e-commerce from existing experts such as Douyin (Chinese TikTok) and its rival Kuaishou by differentiating its approach to “influencing” consumers to that adopted by other social media platforms.
  • Such a practice also appears to be more persuasive and appealing to Xiaohongshu’s user demographics, which are economically satisfied and more knowledgeable in fields related to their interests.

LINK:https://daoinsights.com/news/xiaohongshu-embarks-on-the-era-of-personal-shoppers-boosting-social-commerce/

 

 

China Sets Filing Requirements for Smart Phone Applications

  • On 4 August 2023, the Ministry of Industry and Information Technology (MIIT) set a timeline to enforce the filing of mobile applications (APPs), in the published Notice on Carrying out the Filing of Mobile Internet Applications (Notice). 
  • APPs that are pre-installed on a smart phone or downloaded by users, should conduct filing through their network access service providers. For example, an APP hosted on Tencent Cloud’s cloud service should conduct filing through the Tencent Cloud portal. 
  • APPs based on API that users can use without installation, such as mini programs, quick apps, etc. should conduct filing through their distribution platform. For example, mini programs in WeChat should conduct filing through the WeChat portal. 
  • A foreign company that operates an App in China can register its Chinese subsidiary or representative office as the APP holder. Alternatively, it can enter into a cooperation agreement with a local partner.

LINK: https://mp.weixin.qq.com/s/w2xLVI75H4X59DRR5rODNA 

 

 

China’s newest viral collab: megabrands Luckin Coffee x Moutai join forces

  • Many young Chinese people are tasting their first cup of luxury liquor—Kweichow Moutai — at domestic café chain Luckin Coffee. The two beverage giants partnered up to co-create a new flavor of latte, Moutai Latte (酱香拿铁), which was released today. 
  • The collaboration was an instant hit, with long queues forming outside the 10,000-plus Luckin coffee shops distributed across China, and several related hashtags topping Weibo’s Hot List, each with over 100 million views. 
  • Through the partnership with Luckin Coffee, Moutai is using a fresh way to popularize its product’s taste and brand among China’s younger demographic. 
  • The collaboration seems to be a winning formula for both. The high-low partnership has tapped China’s guochao trend, offered surprise, delight, and nostalgia for consumers, and earned both brands new virality. 

LINK: https://jingdaily.com/luckin-coffee-moutai-collaboration/ 

 

 

‘Mom skincare’ —China’s maturing Gen X consumers give rise to new beauty opportunities

  • The cohort of 60-years-plus consumers could provide a new growth engine for skincare and personal care labels.
  • The options for mature skin are lacking, with many major local and global brands focusing on launching skincare lines for young women and men.
  • China’s Gen X consumers are big savers and users of high-end skincare labels. They have more knowledge about skincare and beauty than the preceding generation had.
  • Older consumers rank anti-aging effects as the top product function. However, hydration and moisturization also rank highly.
  • Brands have deployed celebrities in their 40s and 50s to endorse their skincare lines and promote their products on Weibo, Douyin, and Xiaohongshu. 

LINK: https://jingdaily.com/chinas-gen-x-saves-big-but-also-consumes-high-end-skincare/

The Evolution of Xiaohongshu, RED, into a Travel Platform

China’s Gen Z has found Xiaohongshu, also known as “RED”, to be a distinctive platform that resonates with them in the rapidly changing world of social media and e-commerce. Xiaohongshu stands out for its clever integration of influencer culture and retail. This is what draws in young customers looking for inspiration and authenticity. RED began as a shopping guide for wealthy mainlanders traveling abroad in 2013, but its development has been characterized by seismic shifts. This article will delve into Xiaohongshu’s evolution from a cross-border shopping platform to a thriving hub for travel inspiration, highlighting its impact on China’s digital landscape and the broader tourism industry.

📕 Little Red Book: Main Functionalities

Xiaohongshu RED Travel Tourism Content

From Shopping Guide to Social Travel Hub

RED embarked on its journey as a shopping guide, providing valuable insights to Chinese travelers visiting international destinations like Hong Kong, Thailand, Japan, and South Korea. Gradually, it embraced a new dimension by acknowledging users’ desires to do more than just window shop. The company capitalized on the growing trend of users wanting to purchase products endorsed by influencers and. celebrities. Then everyday consumers started to share their experiences on the platform. This transition led to the birth of a social e-commerce ecosystem, enabling Xiaohongshu to position itself as a pioneer in this emerging industry.

The platform’s evolution didn’t stop there. Over time, it expanded beyond its initial shopping-focused approach, transforming into a digital haven for travel and lifestyle enthusiasts. The 2020 China Tourism Industry Report revealed that Xiaohongshu had secured its position as the go-to platform for 64% of China’s wanderlust-driven individuals. This staggering popularity catapulted Xiaohongshu beyond conventional online travel agencies, underscoring its potential to redefine the market.

🌏 Reaching Chinese Tourists and Top Online Travel Agencies in 2023

AI-Powered Growth and Expansion

Firstly, Xiaohongshu harnessed the power of artificial intelligence and machine learning to enhance content distribution since 2016. This strategic move proved instrumental in captivating the preferences of young consumers, effectively driving the platform’s popularity. Two years later, the platform expanded its horizons by launching Puzhen Xiangli, a travel agency rooted in Shanghai. This venture showcased the platform’s commitment to becoming a comprehensive travel resource, offering services ranging from travel consulting and hotel management to catering and tourist site operations.

Fast forward to 2023, Xiaohongshu solidified its authority by forging a strategic partnership with Tourism New Zealand. This collaboration, announced during a high-profile event in Shanghai, exemplifies Xiaohongshu’s ability to foster alliances that amplify its impact and influence.

New Zealand Xiaohongshu RED

A Catalyst for New Behavior Patterns

Xiaohongshu’s influence extends beyond commerce and travel, shaping the behavior patterns of its users. Online travel agencies remain pivotal for trip planning and booking. However, Xiaohongshu emerges as a frontrunner during the pre-planning phase, catering to nearly 40% of travelers seeking outbound experiences. Notably, travel content occupies a significant position on the platform, showcasing remarkable growth alongside beauty-related content.

Data Travalers China 2023

Subsequently, The COVID-19 pandemic catalyzed shifts in travel preferences, favoring short-to-mid-distance trips. In this landscape, Xiaohongshu demonstrated its prowess in driving conversions for lesser-known and budget-friendly travel offerings, reflecting its adaptability and agility.

However, Xiaohongshu is not without its critics. The platform’s embrace of user-generated content transformed picturesque locations into influencer magnets, yet this practice also attracted criticism. Accusations of heavily filtered and stylized content raised questions about authenticity. Notably, during the National Day holiday, influencers’ images on Xiaohongshu faced scrutiny when compared to real-life experiences. It prompted a candid discourse about the platform’s portrayal of destinations.

In conclusion, Xiaohongshu’s evolution from a shopping guide to a diverse platform blending commerce, travel, and social interaction demonstrates its user-focused agility. Through AI, strategic alliances, and embracing changing travel trends, it has firmly established itself in culture and commerce. Xiaohongshu’s enduring legacy lies in its adaptability, innovation, and bridging digital and real-world experiences.