Tencent, Changan Automobile Launch Connected Vehicle Platform Joint Venture

Chinese Internet giant Tencent Holdings Ltd. has set up a joint venture with Chinese automobile manufacturer Changan Automobile Co., Ltd. to co-develop autonomous driving technologies and connected vehicle platforms. It marks Tencent’s latest move in the automotive sector to rival Alibaba and Baidu. Last November, Tencent partnered with five automakers including Changan, GAC Group, Geely, … More Tencent, Changan Automobile Launch Connected Vehicle Platform Joint Venture

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

Tmall, Shanghai Fashion Week in New Retail Tie-Up

Tmall has partnered with Shanghai Fashion Week to help one of the industry’s most influential events in China up its digital game. Per the agreement, the Alibaba Group-owned B2C shopping site will bring New Retail technology to Shanghai Fashion Week, enhancing the attendee experience and delivering valuable consumer insights to organizers, buyers and designers over … More Tmall, Shanghai Fashion Week in New Retail Tie-Up

Alibaba’s Mapping Unit AutoNavi Declares War On Didi Via Launch Of Carpooling Business

Alibaba’s mapping unit, AutoNavi Holdings Ltd. that is also known as Gaode Map, has launched its own carpooling business, starting in Chengdu and Wuhan city initially with plans to roll out nationally. In a move that declares war to existing ride-sharing leader Didi Chuxing, AutoNavi’s expansion into the shared mobility space further complicates a sector … More Alibaba’s Mapping Unit AutoNavi Declares War On Didi Via Launch Of Carpooling Business

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’s Pony Ma Says Retail Investment Grows Online Advertising, Mobile Payment

Retail investments benefit Tencent in three ways: mobile payment and related financial services, cloud development and advertisement, according to the tech giant’s Founder and CEO Pony Ma. Ma’s comments come as Tencent accelerates its investments in the retail sector, a move seen to rival and take market share from China’s largest retailer Alibaba Group. “People … More Tencent’s Pony Ma Says Retail Investment Grows Online Advertising, Mobile Payment

Alibaba Invests a Further US$2 Billion in Lazada to Accelerate Region’s E-Commerce

Aibaba Group said Monday it will inject a further $2 billion into Southeast Asian online shopping giant Lazada as part of the group’s ongoing effort to accelerate the region’s e-commerce development. The latest move will deepen Lazada’s integration into the Alibaba ecosystem and brings Alibaba’s total investment in the e-commerce platform to $4 billion. In … More Alibaba Invests a Further US$2 Billion in Lazada to Accelerate Region’s E-Commerce

Chinese Visits to Finland Grow by 63% With Alipay and Stopover Marketing

Finland had a great year for tourism, and for Chinese tourism especially. In 2017 the number of Chinese visits to the Nordic country rose by an impressive 63 percent, according to Visit Finland. 2016 saw around 265,000 Chinese visits to the country, and 2017 saw around 432,000. What makes this figure even more significant is … More Chinese Visits to Finland Grow by 63% With Alipay and Stopover Marketing

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

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