1.Tencent to introduce a proprietary artificial intelligence model later this year:
- Tencent believes the AI model will rank among the finest in China.
- Tencent has been conducting tests on its large language model named Hunyuan on services such as cloud computing, search, gaming and financial technology. It also anticipates being able to use the technology to boost its advertising and marketing efforts.
- Martin Lau, the company’s president, said the LLM stands as one of the foremost foundational models developed in China.
- Tencent is making continuous efforts to upgrade and refine the model for a prospective launch in the latter part of this year.
2. Chinese Officials Meet Foreign Firms to Ease Data Law Fears:
- China’s internet regulatory authority is engaging with foreign companies, including Walmart and PayPal, to discuss strategies for navigating the new data-security regulations imposed by Beijing.
- This effort aims to reassure multinational corporations that have concerns about their operations within the country under the latest regulatory framework. Officials from the Cyberspace Administration of China had held meetings with executives from numerous international companies to address concerns related to the upcoming implementation of the new data regulations by the November deadline.
- The regulators fielded queries, provided guidance on how to adhere to the regulations, and acknowledged the complexities associated with obtaining approvals for cross-border transfers of sensitive data. One of the sources mentioned that discussions included the possibility of establishing an expedited approval process for routine data transfers and the potential creation of a curated “white-list” that categorizes data types or specific companies.
3. Alipay declares live commerce ambitions in pre-IPO growth chase:
- Alipay is taking steps to monetize its 1 billion-strong user base by doubling down on live-streamed e-commerce, a route taken by many other Chinese platforms with vast user pools.
- The fintech giant also announced an updated international version of Alipay on Thursday that promised to make it easier for foreign visitors to China to use the digital payment service using Visa, Mastercard, and other major credit cards.
4. WeChat has added a photo modification function
The modification rules are as follows:
1, an article or only one chance to modify, previously was a maximum of 20 words can be modified, now is a maximum of 20 words + a maximum of 3 pictures;
2, each picture can only be replaced or deleted;
3, if there is no picture in the original text, then you can not add new pictures after the group;
4, the first picture of the picture message and the pictures of the advertising article are not supported to modify;
5. Historical articles support picture modification, but historical articles that have been modified once cannot be changed again.
5. China declares Aug 15 ‘National Ecology Day’, unlocking new avenues for eco marketing
- China has officially declared August 15 as National Ecology Day, a move intended to recognise the nation’s remarkable progress in ecological conservation while reaffirming its commitment to preserving its natural resources for the betterment of future generations.
- China’s ongoing dedication to ecological conservation ties back to its ambitious goals of peaking carbon emissions by 2030 and achieving carbon neutrality by 2060.
- Experts believe that National Ecology Day not only heightens ecological awareness within China but also offers an opportunity to showcase the nation’s progress in ecological civilization to the global community.
- From a marketing perspective, China’s latest environmental holiday presents a unique and timely opportunity for businesses to align their marketing strategies with the nation’s growing emphasis on ecological conservation.
6. From Kering to Zegna: How brands can use AI to supercharge luxury shopping
- Generative AI technology has the potential to transform various customer touchpoints, such as e-commerce sites, targeted ads, and in-store experiences.
- In China, 24/7 customer service already exists, but much of it relies on human agents. However, with the automation capabilities of AI, tasks traditionally handled by humans can now be automated.
- Zegna announced the release of the Zegna X (AI-powered shopping customization tool) configurator in March 2023.
- Kering has introduced “Madeline,” it goes beyond merely suggesting products and provides additional information about fabric details, product origin, and care instructions.
- European retailer Zalando is developing its own fashion assistant to provide tailored product recommendations accordingly.
7. Qixi, ‘China’s Valentine’s Day,’ is here: Which luxury campaigns are pulling at our heartstrings?
- China’s Qixi Festival, a love-themed shopping event and Chinese Valentine’s Day celebration, is happening on August 22. Luxury fashion brands are creatively embracing the traditional festival to engage consumers.
- Qixi, also known as Chinese Valentine’s Day, boasts a history of over two millennia in China. Unlike other love-centric shopping events such as Valentine’s Day in February or 520 Day in May, Qixi is steeped in ancient Chinese mythology. This presents brands with a unique chance to forge cultural ties that resonate with the contemporary guochao sensibilities of younger consumers.
- Luxury brands like Valentino, Balenciaga, Ferragamo, and Prada are curating special collections for Qixi 2023, mixing iconic items with new or limited-edition products.
- Valentino’s campaign focuses on the #VLogoforLove selection, including handbags, accessories, and footwear, accompanied by videos showcasing different forms of love.
- Balenciaga’s campaign centers around streetwear with embroidered heart motifs, featuring real-life couples photographed in the series on the streets of Shanghai.
- Ferragamo’s “Game of Love” campaign draws inspiration from mahjong tiles, using symbolic elements to represent love, and features a video with actors Yang Zi and Jiang Qiming.
- Prada’s Qixi-inspired collection includes bags, accessories, jewelry, and fragrances, with a poetic video campaign starring Tan Jianci and Li Wen.
8. From Pink Fashion to Mythical Literature: How “Barbie,” “Fengshen,” and “Chang’An” Are Shaping China’s Consumer Trends
- China’s cinematic world is not just lighting up screens but also sparking new consumer trends. With summer blockbusters including Barbie, 30,000 Miles from Chang’an, and Fengshen, among others, moviegoers are bringing their love for these films into their lifestyles, driving a surge in related products.
- A Colorful Wave Inspired by Barbie. The trend swept across various fashion products, ranging from camisoles and dresses to wide-leg pants and earrings. The appetite for pink-themed products soared, with growth rates varying from an already impressive 156% to an astounding 1,055%.
- Literary Influence of Chang’an and Fengshen. The historical charm of Chang’an and the mythical allure of Fengshen had an unprecedented impact on book-related products. Searches for titles including Li Bai and His Friends, Fengshen Bang, and Chang’an Ke, soared by YOY increases ranging from 103% to 745%.
- According to data from the National Film Administration, China’s total box office revenue for July 2023 reached an impressive 8.716 billion yuan, marking a substantial 25% increase compared to the same period in 2018.