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HNA Invests USD500 Million In Tuniu.com

Chinese Internet tourism services provider Tuniu.com officially confirmed that Hainan Airlines Tourism Group has made a USD500 million investment in the company. On the completion of the transaction, Hainan Airlines Tourism Group will become the largest shareholder of Tuniu.com with about 24.1% of the shares. Tuniu announced in May 2015 that the company received total […]

China’s Baidu Is Increasing Its Indian E-commerce Exposure?

Chinese search engine company Baidu reportedly plans to acquire a controlling stake in Mydala.com, a leading e-commerce platform for discounted products in India. According to reports in Indian local media, Baidu expressed an intention to acquire a majority stake in Mydala.com and the investment can reach up to USD100 million, which is about CNY630 million. […]

Fake Goods Kill Chinese E-commerce Hope

The sale of fake and counterfeit goods in China has finally ended the services of a major online shopping service. Chinese B2C e-commerce operator JD.com announced that they will stop services at Paipai.com on December 31, 2015, and after a three-month transition period the website will be completely shut down by April 1, 2016. Paipai.com […]

What Chilling Effect Would Alibaba’s Investment Have On Free Media?

The e-commerce giant Alibaba Group is reportedly planning a newspaper investment in Hong Kong’s South China Morning Post, according to multiple reports in Chinese local media. However, neither side has commented on or verified the news. South China Morning Post is reportedly the largest English-language newspaper in Hong Kong, with a circulation of about 110,000 […]

Chinese E-Commerce Eyes Stability During Year’s Biggest Shopping Day

In the West, today is the remembrance of the end of World War One. But in China, November 11 is Singles’ Day and the entire country has prepared for an online sales onslaught. In 2014, Alibaba posted more than USD9 billion in sales on China’s Singles’ Day. And this year rivals JD.com and Suning hope […]

HP Stops O2O Photo Printing Service In China

HP’s online-to-offline printing service in China has closed. Prior to this, the O2O printing service had been terminated in four countries, including India. According to a report on the official website of Kachayu.com, due to company business adjustments, Kachayu has shut down all businesses in China. However, the uploaded pictures will be maintained and users […]

Why Is China Mobile Forming An Internet Company Now?

China Mobile’s Internet subsidiary named China Mobile Internet Business gained its business license on October 30, 2015, and has begun formal operations. But why is China’s largest mobile carrier forming an offshoot company solely focused on Internet services now? China Mobile president Li Yue revealed at the end of 2012 that the behemoth would establish […]

Uber Drives Chinese Operating Center To Wuhan

Uber China announced that the company will invest CNY63 million to build an operating center in the Wuhan East Lake High-tech Development Zone. This is Uber’s first major operating center outside North America. Meanwhile, it boasts the largest area and highest investment for the company. According to Uber, this new operating center will be an […]

Baidu Helps Consummate 3-Way Travel Deal In China

After dancing around each other for years, a deal today marries two of China’s top travel websites. Chinese travel company Ctrip.com International, Ltd. completed a share exchange transaction with search engine Baidu, Inc. in which Baidu has exchanged 178,702,519 Class A ordinary shares and 11,450,000 Class B ordinary shares of Qunar Cayman Islands Limited beneficially […]

China’s Dianping.com Expands Into Singapore

Chinese classified information site Dianping.com has inked a strategic deal with Singapore Tourism Board to provide various services to Chinese tourists visiting Singapore. The two parties will combine resources to cover dining, hotel, traveling, sightseeing, shopping and entertainment. Dianping.com will integrate information from tens of thousands of Singapore vendors, providing tickets of over 60 popular […]

Alibaba Tries To Find The Best Way To Manage Its Growth

With its stock price dropping in the U.S., Alibaba Group announced plans to launch a dual-city operations strategy to better manage its varied assets. The company will base itself in Hangzhou and Beijing dual-center strategy. Beijing will be its base camp to promote its strategy execution and business development in the northern areas of China. […]

Alibaba Continues Testing Streaming Video Service

Alibaba has started testing its streaming video service named Tmall Box Office, which is a Netflix-style subscription video service. The monthly subscription for the service costs CNY39 and the annual subscription is CNY365. Alibaba revealed in June 2015 that the company would launch an online streaming video service which will include Chinese and foreign movies […]

Legend Holdings Invests In Chinese Social Mobility Company

Legend Holdings announced a USD58.5 million strategic investment in Social Touch, a corporate mobile social marketing solutions provider in China. Social Touch, which was formerly known as ShiquTech, was established in 2011. As a social management system, service and data solutions provider, the company mainly focuses on providing Social CRM solutions to enterprises. Commenting on […]

Tmall.com Teams With Oil Giant For Mobile Payments

Chinese B2C e-commerce platform Tmall.com and China National Petroleum Corporation’s Hunan branch will integrate their resources to launch a mobile payment service model. Tmall.com, which is a subsidiary of Alibaba, said that the company will integrate Alibaba’s ecosphere to help CNPC Hunan implement an “Internet Plus” transformation that includes an online store, mobile payment, big […]

Coolpad Appoints Letv’s Chief As Executive Director

Chinese smartphone maker Coolpad has appointed Jia Yueting, chairman and general manager of Letv.com, and Liu Hongwei, vice chairman and deputy general manager of Letv.com, as executive directors, effective immediately. According to the company, Jia and Liu signed three-year service contracts with Coolpad, starting from August 17, 2015. Both of them will receive CNY1 million […]

Linekong’s Chinese Online Game Net Profit Down 44%

Chinese game developer and publisher Linekong recently released its semi-annual financial report ended June 30, 2015, stating that its net profit decreased by 44% compared with the same period of last year. Linekong’s operating revenue for the second quarter of 2015 was CNY187 million, which decreased by 65% over the first quarter. From January 1 […]

China’s Changyou Sells Subsidiaries For USD205 Million

Chinese Internet portal Sohu.com recently submitted a regulatory filing in the U.S. for its online gaming subsidiary Changyou.com to sell hree subsidiaries, including two overseas subsidiaries, to third-party buyers for USD205 million. According to the file, Changyou signed decisive agreements in April 2015 to transfer a series of assets. Based on the agreements, Changyou will […]

58.com Buys Majority Stake In Chinese Automobile Service

Chinese online classifieds services company 58.com Inc. has acquired a 70% equity stake in a Chinese automotive information service. 58.com’s investment in Leftbrain, a technology company that is listed on China’s National Equities and Exchange and Quotation, is for a total consideration of CNY100 million in cash. Leftbrain owns and operates XGO.com.cn, an automotive information […]

Chinese Social Media Aggregation Site Shuts Down

Chinese forum aggregation site Daqi.com formally announced its closure. Daqi.com published a notice on its official website which says they terminated the offering of content services with immediate effect. They apologize for inconvenience caused and appreciate the understanding of users. Founded in November 2004, Daqi.com was originally known as ChinaBBS.com and it is one of […]

CNNIC Report: 27.9% Of Chinese Netizens Live In Rural Areas

China Internet Network Information Center’s latest Internet statistics showcase the breadth of the country’s online population. Its recently published 36th Statistical Report on Internet Development in China states that by June 2015, China had 668 million netizens, representing an increase of 18.94 million netizens over the past six months. At the same time, China’s Internet […]

Uniqlo Closes Chinese Internet Shopping Retail Site

Days after a sex video filmed in Uniqlo’s Beijing store blew up the Chinese Internet, the Japanese apparel retailer says it has closed its flagship store on JD.com. The store was shuttered on July 20, 2015, after only three months of operation. On April 8, 2015, Uniqlo and JD signed a cooperation agreement and Uniqlo’s […]

Hong Kong Mobile OS Company Aims To Beat Android, Apple

The freshly-minted Hong Kong-based mobile operating system company Acadine Technologies is hoping to make room for itself among the ubiquitous of Android and iOS devices. The company says it received USD100 million in its first round financing from China-based Tsinghua Unigroup International. Acadine is so new, that only yesterday, July 15, did it register and […]

Hc360.com Will Acquire 7 Chinese Clothing Websites For CNY120 Million

Hong Kong-listed B2B e-commerce platform Hc360.com announced that the company plans to invest CNY120 million to acquire several clothing vertical websites. According to an acquisition letter of intent submitted by Hc360.com to HKEx, the company plans to acquire an 80.38% stake in Zhejiang Zhongfu Network Technology for CNY120.57 million. Zhejiang Zhongfu Network Technology mainly provides […]

Former Ctrip VP Appointed CEO Of eLong

Chinese online travel service provider eLong.com has appointed Jiang Hao as its new chief executive officer. The company also appointed Zhou Rong as chief strategy officer; and promoted vice president Gao Yan to senior vice president. Meanwhile, Cui Guangfu, former chief executive officer of eLong will continue to serve the company as a consultant. Jiang […]

China’s Online Travel Sector Finds Big New Investment

Who said only Ctrip and eLong ruled the Chinese Internet travel world? LY.com, one of China’s many privately-run travel booking websites, announced that they have gained over CNY6 billion new investments from Wanda Culture Industry Group, Tencent Industry Win-Win Fund, and CITIC Capital. As the lead investor, Wanda Culture Industry Group invested CNY3.58 billion in […]

Chinese Internet Laws Target Government Control And Online Bullying

A new law voted unanimously yesterday by the standing committee of the National People’s Congress will enhance the Chinese government’s control over the Internet. Neither the actual text nor the commencement date of the full law has yet been released. But Chinese domestic media report that the law gives the government far-reaching and vague powers […]

Alibaba Will Offload U.S. Assets

Alibaba has agreed to sell four of its American e-commerce assets to U.S.-based social shopping platform OpenSky. Alibaba will give OpenSky 11main.com, Auctiva, Vendio and SingleFeed in exchange for about a 37% stake in OpenSky. No financial details or exact timing on the deal are yet available, according to reports in foreign media. 11main.com is […]

Foreign Governments Join Chinese E-commerce Leader To Promote Global Trade

Alibaba is working directly with foreign embassies in China to expand its influence and sales potential around the world. The e-commerce company has opened 11 official country pavilions on its Tmall Global platform and cooperative partnerships between Juhuasuan, Alibaba’s group-buying platform, and 26 foreign embassies in China. A total of 11 countries, including United States, […]