In China, women leading online shopping boom

Lu Jishu, a 32-year-old lecturer, was on a high-speed train from Suzhou to Shanghai when he received three text messages from his bank, notifying him that three online payments totaling 286 yuan ($46) had just been made from his account. Lu’s first response was to phone his wife and ask about her online purchases. “A [...]

A fifth of Chinese to be ‘affluent’ by 2020 report

Twenty percent of the Chinese population will be wealthy enough to be considered “affluent” by 2020, according to research by the management-consulting company Boston Consulting Group. By then, 280 million people are expected to form the country’s affluent class, wielding $3.1 trillion a year of purchasing power, an amount equal to 5 percent of global [...]

China’s Internet users hit 538 million, the combined populations of the US and Brazil

BEIJING – About four out of 10 Chinese use the Internet, with the country’s online population hitting 538 million by the end of June this year, according to a report released by the China Internet Networks Information Center on Thursday. In the first half of the year, the total number of Chinese Internet users increased [...]