Based on the daily precipitation observation from 2411 meteorological stations across mainland China in 2022, the utility of the latest GSMaP V8 (GSMaP-NRT, GSMaP-Gauge-NRT) and IMERG V06 (IMERG-Early, MERG-Late) near-real-time daily precipitation products in the GPM era was systematically evaluated across mainland China and its eight geoclimatic regions. The evaluation encompasses three aspects: detection of rain/no-rain events, quantification of precipitation amounts, and monitoring of extreme events. The results indicate: (1) GSMaP-Gauge-NRT and IMERG-Late, compared to their respective counterparts within the same product family, have demonstrated improved classification and quantitative accuracy in most regions. (2) In terms of rain/no-rain classification, the Critical Success Index (ICSI) values of GSMaP-Gauge-NRT are higher than those of IMERG-Late in all regions, with a prominent strength in northern China and the plain region of Yangtze River, where the ICSI values of GSMaP-Gauge-NRT reach 0.491 and 0.598, respectively, compared to 0.416 and 0.527 for IMERG-Late. Regarding the quantitative accuracy, except for southwest, northern, and southeast China, the Modified Kling-Gupta Efficiency (EKG) values of GSMaP-Gauge-NRT are superior to those of IMERG-Late, particularly in the Qinghai-Tibet Plateau, where the EKG value of GSMaP-Gauge-NRT is 0.299 and that of IMERG-Late is 0.081. (3) Satellite precipitation products tend to underestimate Consecutive dry days (CDD) and overestimate Consecutive wet days (CWD). Notably, the area of high-value CDD in the Yangtze River Basin during the summer of 2022 and in the Xinjiang region during the summer of 2023, as monitored by GSMaP-Gauge-NRT and IMERG Late, exhibits significant underestimation. The spatial distributions of CWD in the Pearl River Basin in 2022 and the Lancang River Basin in 2023 are better captured by GSMaP-Gauge-NRT. However, the area of high-value CWD monitored by IMERG-Late is noticeably oversized. In summary, GSMaP V8 has demonstrated superior categorical and quantitative estimation accuracies than IMERG V06, yet has deficiencies in monitoring extreme droughts and heavy rainfall. These insights can provide valuable guidance for the rational selection and application of precipitation products in the GPM era.