You can make that statement about any country - some people are wealthy, while others are not. Chinese consumer economy is not the same size as US in nominal t

You can make that statement about any country - some people are wealthy, while others are not. Chinese consumer economy is not the same size as US in nominal terms, so the ad spending can't be the same either. Which led me to question the revenue numbers in the first place. I suspect that some combination of real revenues and inflationary/artificial cash flows from investments being poured in their customers are the underlying reason. Similar to the feeding frenzy with bike share companies that were profiled in the news a few weeks ago.