Alipay trials digital replacement of China’s ubiquitous ID cards

A new system of official digital ID has been integrated with Alipay for making ID-validated purchases such as train tickets and for checking into hotels in test areas in eastern China. The “Resident ID Online Verification Certificate” (our translation: “居民身份证网上功能凭证”) uses the “Internet+ Trusted Identity Authentication Platform”, also known as CTID, (our translation: “互联网+可信身份认证平台”), according … More Alipay trials digital replacement of China’s ubiquitous ID cards

EEE Innovations Oy short-listed as one of this year’s Red Herring 100 Europe!

#EEEInnovationsOy short-listed as one of this year’s #RedHerring 100 Europe! Please see the complete list of 2018 Top 100 Europe Finalists below. This is an exception to my previous articls/news, because it concerns the company I work for. Since 1996, technology industry executives, investors, and strategists have valued the Red Herring 100 lists as an … More EEE Innovations Oy short-listed as one of this year’s Red Herring 100 Europe!

Xi Jinping puts China’s car industry in top gear with plans to raise foreign investment cap, lower import tariffs

Global carmakers received a double dose of good news from China’s President Xi Jinping on Tuesday: a reduction in import tariffs and a raised investment cap with regards to mainland-based factories. New energy carmakers such as Tesla are set to become the top beneficiaries of a relaxation by Beijing on foreign ownership in the automobiles … More Xi Jinping puts China’s car industry in top gear with plans to raise foreign investment cap, lower import tariffs

China Is Studying Yuan Devaluation as a Tool in Trade Spat

China is evaluating the potential impact of a gradual yuan depreciation, people familiar with the matter said, as the country’s leaders weigh their options in a trade spat with U.S. President Donald Trump that has roiled financial markets worldwide. Senior Chinese officials are studying a two-pronged analysis of the yuan that was prepared by the … More China Is Studying Yuan Devaluation as a Tool in Trade Spat

Alibaba buys food delivery platform Ele.me

Alibaba announced today that it will acquire all outstanding shares that it does not already own in food delivery platform Ele.me. The transaction implies the enterprise value of Ele.me at US$9.5 billion. Alibaba and its financial arm Ant Financial are already the largest shareholder in the company with approximately 43% shares. Rumors of Alibaba’s acquisition … More Alibaba buys food delivery platform Ele.me

The Mysterious Chinese Company Filling the Void Left by Failing Conglomerates

When asked to name some of China’s most successful companies, most people would probably name Alibaba, Tencent, as well as tech success stories like Huawei and ZTE. In travel, companies like China’s three state-owned airlines, Ctrip, and (also state-owned) Jin Jiang hotels may come to mind. As a matter of fact, big corporate in China’s … More The Mysterious Chinese Company Filling the Void Left by Failing Conglomerates

Tencent Leads $100M Pre-IPO Investment In News App Qutoutiao At Unicorn Valuation

Tencent Holdings Ltd has led a pre-IPO investment of more than US$100 million in Chinese personalized news recommendation app Qutoutiao, valuing the start-up between US$1.3 billion to US$1.5 billion, according to local media. Qutoutiao, which means “fun headline” in English, is rumored to be seeking a U.S. initial public offering of up to US$3 billion … More Tencent Leads $100M Pre-IPO Investment In News App Qutoutiao At Unicorn Valuation

China’s tech firms are adapting to an increasingly IP sensitive environment

Over the past few decades, China has been perceived as a land of copycats where local firms duplicate proven technologies and business models from the West without giving due credit. Counterfeit apparel, blatant technology infringements and pirated movies are still stereotypical portrayals of the state of intellectual property (IP) protection dynamics in the Middle Kingdom. … More China’s tech firms are adapting to an increasingly IP sensitive environment

WeChat’s micro retailers come under scrutiny in run up to World Consumer Rights Day

WeChat’s micro store business Weishang (微商) is challenging Alibaba’s Taobao for e-commerce domination in China. It seems that the service is going through the very same problems that Taobao has experienced previously. Product quality, marketing spam, and after-sales services are three top concerns for Weishang, a report from the Beijing Customer Association shows. As a … More WeChat’s micro retailers come under scrutiny in run up to World Consumer Rights Day