Exploring China’s Market: The Latest Updates

1. LinkedIn announced its decision to discontinue InCareer in China: 

  • Effective August 9, the decision was attributed to the fierce competition and challenging macroeconomic climate in the Chinese market, the firm stated. 
  • LinkedIn introduced the InCareer app for the Chinese market in December 2022. 
  • As of March of this year, InCareer had approximately 95,9600 monthly active users (MAUs), while its competitors 51 Job and Boss boasted 18.5 million MAUs and 17.3 million MAUs, respectively.
  • LinkedIn had previously expressed its intention to shift its strategic focus in the Chinese market toward assisting Chinese companies with overseas talent recruitment, brand marketing, and skill training.

https://www.ithome.com/0/711/201.htm

 

2. The Chinese short video platform Kuaishou showcased a new AIGC solution and AIGC digital human product called Kuaishou Zhibo:

  • The head of Kuaishou’s AI business highlighted that the AIGC solution is built upon Kuaishou’s self-developed foundational large language model. 
  • It will help creators in the generation of text, images, music, videos, and 3D works by providing them with inspiration, creative materials, and intelligent production services.
  • The company is developing technologies such as text-to-image creation, AI-supported cameras, and intelligent video scripting for its portrait camera app Yitian Camera, and its video editing app Kuaiying.

https://www.36kr.com/newsflashes/2381837287157001

 

3. Guochao brew: China’s Gen Z craves a cup of ‘Chinese-style’ coffee

  • More cafés have created a distinctly Chinese atmosphere by incorporating traditional architecture, such as a courtyard, decorating their interiors with antique furniture, and serving drinks in Gaiwans. 
  • They serve as popular spots for dates, chats, studying, and business meetings.
  • The localization goes beyond store aesthetics to infuse Chinese elements into the taste and preparation methods of the coffee as well. 
  • Because these specific product launches rely heavily on novelty, the buzz is often artificial and temporary. 
  • However, Guochao — or the integration of traditional Chinese elements in contemporary life — is no passing phase or gimmick.

https://jingdaily.com/chinese-style-coffee-guochao-gen-z/