Industry China

  • More than 300 million people in China have sleep disorders, and among these insomniacs, the sleep problems of young people represented by the post-90s, post-95s, and post-00s are the most prominent. Although the sleep economy started late, the development of the industry has entered a rapid period in recent years. From 2016 to 2020, the overall market size of China’s sleep economy has increased from 261.63 billion yuan to 377.86 billion yuan, an increase of 44.42%. It is expected that with the penetration of the sleep product market in the future , with the continuous improvement of the rate and the increasing number of product types, the market size will continue to maintain a growth trend.
  • The scale of China’s youth quality tea market will continue to grow from 2015 to 2021, with a compound growth rate of 19.1% during the period. The market size in 2021 will be approximately 101.1 billion yuan. It is estimated that the compound growth rate from 2021 to 2024 will be 19.6%, and the market size in 2024 will reach 172.9 billion yuan.
  • China Automobile Association: In February, automobile production and sales reached 1.813 million and 1.737 million respectively, down 25.2% and 31.4% month-on-month, and up 20.6% and 18.7% year-on-year. In February, the production and sales of new energy vehicles reached 368,000 and 334,000 respectively, down 18.6% and 22.6% month-on-month, and up 2 times and 1.8 times year-on-year, respectively.
  • China Automotive Power Battery Industry Innovation Alliance: In February, China’s power battery output totaled 31.8GWh, a year-on-year increase of 236.2%, and the power battery installed capacity was 13.7GWh, a year-on-year increase of 145.1%. A total of 35 power battery companies in the new energy vehicle market have achieved vehicle installation, and the number of companies is the same as in January. The top 3, top 5, and top 10 companies’ power battery installations accounted for 77.7%, 85.4% and 94.8% of the total installed vehicles, respectively.
  • Since 2022, 13 car companies have announced to increase the price of new energy vehicles, ranging from 3,000 yuan to 10,000 yuan. Rising raw material prices and “lack of cores and less electricity” are the main reasons for the rise in the price of electric vehicles. The recent sharp fluctuations in nickel prices have made car companies even worse. Nickel sulfate may rise to 80,000 yuan per ton, and the cost of single-vehicle batteries may rise by about 7,000 yuan.


  • Central Bank: At the end of February, the balance of broad money (M2) was 244.15 trillion yuan, a year-on-year increase of 9.2%. In February, the scale of social financing increased by 1.19 trillion yuan, a decrease of 531.5 billion yuan compared with the same period of the previous year; RMB loans increased by 1.23 trillion yuan, a decrease of 125.8 billion yuan year-on-year.
  • State Tobacco Administration: The “Measures for the Administration of Electronic Cigarettes” will be issued, which will take effect on May 1. The sale of vaping products to minors is prohibited. Implement license management for electronic cigarette production, wholesale and retail entities. Implement channel management for e-cigarette sales, establish an e-cigarette transaction management platform, and standardize e-cigarette sales methods.


  • PATEO Internet of Vehicles: Recently received a strategic investment of 300 million yuan from Shanghai Guosheng Capital. This is another blockbuster investment after the company obtained strategic investments from FAW Group, Dongfeng Motor, Xiaomi Group and Haier Capital. It is reported that PATEO has five core technologies of operating system, intelligent voice, hardware, high-precision map and cloud platform. At present, the listing guidance filing of Shanghai Securities Regulatory Bureau has been completed, and it is planned to go to the Science and Technology Innovation Board for IPO.


  •  British fuel prices continue to rise, the average price of petrol exceeded 1.6 pounds per liter for the first time in history, reaching 1.61 pounds, an increase of 8p in a week; diesel also reached 1.70 pounds per liter. Practitioners said that although wholesale fuel costs have fallen, oil prices at gas stations will remain high for some time.