Chinese E-commerce Revenue Surges

This is a China news story, published by CNBC, that relates primarily to Laopu Gold news.

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Chinese consumers

CNBC

•

Technology

Chinese consumer companies signal spending is picking up again

Summary

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89% Informative

E-commerce giants have reported stronger year-on-year revenue growth in the last three months of 2024 .

However, the earnings released by certain companies reveal strong consumer spending in niche areas, with companies such as Laopu Gold and Pop Mart seeing a surge in revenues.

China 's official economic data for the start of the year showed modest improvement in growth.

Overall industry slowdown and competitors launching low-priced products contributed to a 0.7% drop in same-store sales in the first nine months of 2024 .

In the fourth quarter of 2024 , average monthly sales per Chagee milk tea store in China fell by 20.6% from a year ago .

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