Big data changes life

  China is the world’s second largest economy, in which its  thriving ocean economy takes an essential part. China’s  marine spaces are broad and productive, and rich in  biodiversity. Its territorial waters are vast, with a continental  coastline of about 18,000km. On the basis of this maritime  bounty, China has the largest shipping volume globally, the  largest fish production from both aquaculture and wildcapture, and its coastal tourism and marine renewable  energy sectors have witnessed sustained high growth with  the improvement of living standards of the people. It is a key  contributor to the global economy, with China’s marine GDP  in 2020 estimated at CNY 8 trillion, including 3 trillions yuan  of major maritime industries, 2.3 trillions yuan of marine  research, education, management and services, and 2.7  trillions yuan of marine related industries. 

  Recent years have seen infrastructure logistics and warehouses play an increasinglyprominent role in support of accelerating urbanisation and city cluster developmentacross China. Greater Beijing, which consists of Beijing, Tianjin and Langfang, has beenno exception to this trend, with the city cluster witnessing the development of high-standard warehouses catering torefned and specialised logistics requirements derivedfrom growing domestic consumption and industrial upgrading.

  In 1992, LOUIS VUITTON opened its first store in mainland China at the Peninsula Hotel Beijing.and Cartier opened the first watch counter on Nanjing Road in Shanghai that the same year. Fastforward over three decades, and China has evolved into a pivotal player in the global luxurymarket. Consumers have deepened their appreciation for luxury goods. After a brief dip in 2022we expect China to continue its leading role in 2023, propelling the market to a size of RMB 580billion, with an impressive growth rate of 18%

  Despite the tumultuous adjustments experienced in 2021 and 2022, luxury brands remain confident in the China market. The most telling data is that in just the first half of 2023, luxury brands have opened 150 new stores, including 48 different levels of flagship stores (source: Tong.Luxe.CO ). 

  China's GDP increased by 6.3% in Q2 2023, but the quarter-on-quarter growth was 0.8%, shy of market expectation.

  More than 60% of hotel operators in Greater China are confident about their performance in 2024.

  Even before the end of Covid-19 pandemic, the daily routines of Chinese consumers from bustling citiesto rural villages had been undergoing constant changes. As China emerges from the pandemic with arefocus on economic recovery, changes are likely to accelerate for the typical Chinese consumer, asthey face transformation in their consumption patterns and habits, from the rise of generative Al,revenge travelling, and changing attitudes towards health, wellness, and sustainability.

  Overall, smart last-mile logistics in the Chinese  market has led to an improvement in the efficiency  and execution of last-mile delivery in the country. In  fact, the general strength, the overall development  level and, in particular, the application of digital  technology in China has also led to a benchmarking  effect on a global scale.   Globally and in China, growth in last-mile delivery  logistics has been robust over recent years with the  growth in ecommerce being a significant driver of  last-mile delivery logistics growth.  In 2022, China’s ecommerce transaction volume  reached RMB 43.83 trillion, growth of 3.5% on a  year-on-year (y-o-y) basis after 19.6% growth the  previous year.   As ecommerce has grown in China, so has the  parcel delivery business in the country. In 2022,  when considering the business scale within China’s  parcel delivery industry, it can be seen that a record  high was reached. The parcel delivery business  volume was 110.58 billion packages, up b

  One year on since Chief Executive John Lee took office, Hong Kong hasdemonstrated economic and social resilience at large and continued its steadypath to recovery, scoring positive year-on-year real GDP growth in the first andsecond quarter of 2023. Hong Kong's accession to the Regional ComprehensiveEconomic Partnership (RCEP), China's strong backing for Hong Kong to fulfil itssuper connector role in the development of the Belt and Road lnitiative (BRI).the return of tourists marked by the successful launch of landmark events inrecent months, and the International Monetary Fund's (lMF) reaffirmation of thecity's status as a robust and reliable international financial hub, were amongsome of the headlines worth celebrating.

  2023 might be a banner year for ERP deployment in China. Enterprises  are emerging from the pandemic, dusting off digital transformation  or upgradation plans that may have been suspended, and moving  aggressively to recalibrate and rebuild their organizations.