Tencent restructures its financial services

Jing Gao Chinese Internet giant, Tencent, announced Friday that it will combine its disparate payment, financial and credit properties, currently dispersed across Tencent’s diverse businesses, into an independent business unit under its Corporate Development Group,…

A “smart-car” race for large Chinese tech companies

Siyang Wang Grand-sized Chinese technology company, Tencent, has recently launched a series of open smart car software packages pushing ahead with its expansion into smart car development. “The next big thing for the growth of…

Priceline ups its stake in Ctrip taking the…

Jing Gao Priceline, Ctrip’s largest shareholder, has poured an additional USD 100 million into Ctrip, placing their stake in Ctrip now at 11.58%. Documents obtained from the U.S. Securities and Exchange Commission reveal that Priceline…

Why e-commerce Mia.com could be valued at USD…

Wendy Tang China’s leading e-commerce company for childrens products, Mia.com, has raised USD 150 million in its latest round of funding. Leading this investment is Chinese search engine giant, Baidu, along with Sequoia Capital and…

Tencent launches two competing film factories

Wendy Tang [caption id="attachment_558" align="alignnone" width="1280"] Thirty Sun, Vice President of Tencent[/caption] Chinese web portal giant, Tencent, is reshaping its video and publishing businesses by launching two film companies and integrating its existing game, video…

Not without my WeChat! People panic as WeChat…

Jing Gao A technical glitch, which left some iPhone users of WeChat unable to access the messaging app for more than a day, has been fixed, parent company of WeChat, Tencent said in a statement.…

Didi Chuxing enters fast food delivery sector

By JING GAO China’s Uber-like service, Didi Chuxing, is entering the fast food delivery sector through investing in leading app, Ele.me, in an effort to further build upon its vast urban logistics network, a news…

Alibaba’s sudden cut in campus new hires sparks…

Jing Gao In response to the rumors of a drastic hiring freeze, Chinese e-commerce giant Alibaba told China Business News Monday morning, that while it is scaling back campus recruiting, it will honor all the…