Alibaba and JD.com may introduce steeper discounts to stimulate consumption during Singles’ Day, China’s largest annual shopping festival. China’s trade-in program to boost demand for appliances and consumer goods may also bode well for sales during the shopping event. Tencent is expected to see sustained revenue growth, with consensus calling for an 8.6% increase. However, the company still faces a deteriorating outlook for its fintech and advertising segments amid a sluggish economy.
Key takeaways:
- Chinese tech giants Alibaba, Tencent, and JD.com are expected to post earnings soon after China is expected to sign off on a major fiscal package to spur growth since the pandemic.
- These companies stand to benefit from any potential measures unveiled by the Standing Committee of the National People’s Congress meeting in Beijing this week to support the economy.
- Alibaba and JD.com may introduce steeper discounts to stimulate consumption during Singles’ Day, China’s largest annual shopping festival, according to Bloomberg Intelligence.
- China’s trade-in program to boost demand for appliances and consumer goods may also bode well for sales during the shopping event taking place Nov. 11.