Daily Archives: October 18, 2017

Industries related to two-child policy booming

Two children in Beijing learn to use pencils. The end of China’s one-child policy has greatly stimulated the development of the baby care market, with everything from vitamins to photography seeing strong demand and rising prices, Guangzhou Daily reported.Sales of pregnancy and prenatal vitamins and fertility drugs for women increased by 66.9 percent in the second quarter from last quarter on Jianke.com, a leading online drug store.Female visitors to the website also rose by 45.3 percent, while fertility drugs for men and male visitors grew by 39 percent and 51 percent respectively.Xie Fangmin, CEO of Jianke.com, said the two-child policy has directly fueled the growth of baby care products and means a bright future for the online pharmacy business.Guangzhou Baiyunshan Zhongyi Pharmaceutical said a drug it made to assist fertility and protect the fetus saw sales growth of 169 percent in the first six months.Many maternal and child healthcare hospitals in Guangzhou city, capital of South China’s Guangdong province, are already crowded with pregnant women, who might need to register to see a doctor one week earlier.Other products and services targeting mothers and children have also seen golden opportunities following the birth policy relaxation. Guangzhou now boasts over 500 baby and mother specialty stores. In the city’s major commercial street Shangxiajiu, many clothing stores have transformed themselves into baby bath services.A shopping mall owned by Guangzhou Friendship Group has increased its area for baby specialty products by 30 percent, and also offered new playgrounds to attract consumers.Wu Ruixi, manager of a local child photography studio, said the business will grow at least 30 percent and that the store has started training new employees and expanding its office space.Insiders said the market for toys, clothes and other baby products will benefit hugely as more families have two children.

Xiaomi, UnionPay partner for mobile payment service

Cameramen focus on Xiaomi’s new tablet at the device’s unveiling event on May 15, 2014 in Beijing. Chinese smartphone maker Xiaomi has announced plans to work with national bank card association China UnionPay to grab a bigger share of the growing mobile payment market. The two parties will design a mobile payment product for Xiaomi’s smartphones, Xiaomi said on Thursday night without specifying a timetable. Xiaomi CEO Lei Jun said the company, the biggest seller of phones in China last year, will develop Near Field Communication (NFC) for safe and convenient mobile payment services. Xiaomi and China UnionPay have already collaborated to offer mobile payment functions with the latter’s QuickPass service, which allows users to complete transactions by placing their mobile phones near the card slots or the NFC reading areas of compatible point-of-sale (POS) terminals. Last year, 620 million people in China, or more than 90 percent of the nation’s Internet users, used a phone or tablet to get online, according to the China Internet Network Information Center. Research firm Analysys valued the country’s third-party mobile payment market at 16.36 trillion yuan ($2.52 trillion) in 2015. While Chinese Internet giants Alibaba and Tencent dominate mobile payments in the world’s largest smartphone market, foreign players are also rushing in. Apple Pay became available in China in February and Samsung’s mobile payment service Samsung Pay was launched in China in late March.

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