China Tech News

Jane Poynter, co-founder and chief executive officer of World View Enterprises, revealed that the company recently gained a new round of investments and its investors included the Chinese Internet technology giant Tencent.

Focusing on the research and development of space travel business, World View operates high-altitude balloons that offer an accessible and affordable way to access near space. The company plans to launch a near space travel service in 2016. By using different technologies, the cost of this travel service will be much lower than other space travel methods.
At present, space travel is experiencing a fast industrial development in some countries. Virgin Galactic and XCOR Aerospace both have received investments from Google.

Prior to this, Virgin Galactic's suborbital passenger spaceship crashed during a test flight. Despite the crash of some business passenger spaceships, the capital market still holds an optimistic attitude towards space travel products. It is said that over 800 people have paid deposits to fly aboard the spaceship, which will be transported to an altitude of about 13,700 meters before being released.


More...

Chinese smartphone maker Xiaomi announced that the company plans to invest USD10 million to purchase shares of Youku-Tudou from the secondary market, which will enable the playing of Youku-Tudou contents on Xiaomi devices.
Xiaomi will also buy Youku-Tudou shares from the open market. The two parties will make a joint investment of an unknown sum to develop Internet application technologies for Youku-Tudou's self-produced contents, joint production, distribution, and film and television program production.

Earlier this month, Xiaomi announced that the company would invest USD1 billion in the video content industry as it aimed to improve content of its TV and TV box products to optimize customer experience of video users in China. According to Lei Jun, chairman and chief executive officer of Xiaomi, they prefer to cooperate with partners in the video content sector and realize joint growth in the area.

Gu Yongqiang, chairman and chief executive officer of Youku-Tudou, said that the strategic cooperation with Xiaomi is an important part of the company's open ecosystem. In the mobile Internet era, Youku-Tudou will team with various terminals, contents providers and carriers in the multi-screen ecosystem to implement its open ecosystem program.

Xiaomi will soon have larger investments in the video sector. Rumors are swirling that the smartphone company will soon invest USD300 million in Iqiyi.com and they will assign an executive in the board of directors of Iqiyi.


More...

Chinese cosmetics B2C e-commerce website Jumei.com has formed a strategic partnership with Beijing Daily Group for logistics, distribution, e-commerce, and big data analysis.

Financial terms of the deal were not announced.

A representative from Beijing Daily Group said that by integrating duplicated third-party logistics resources, Jumei.com realizes a self-built distribution system with light assets, which is the first of its kind for its type of business. Jumei.com will make Beijing its pilot city for its innovative distribution system and its preparation in cities like Shanghai, Tianjin, Xi'an and Chengdu are almost complete. Soon the company will be able to serve its customers in those cities.

In the future, Jumei.com may open its distribution system to more partners.

There are normally two models in e-commerce distribution for Chinese firms: third-party and self-built. Third-party distribution is completed via express delivery companies; while self-built distribution is established and operated by the e-commerce providers themselves and the goods are delivered by the employees of the e-commerce companies.

However, Jumei.com developed a new self-built distribution model. Under this model, Jumei.com provides a stable amount of orders and its third-party delivery partners serve the company with self-built standards by using Jumei.com's self-developed distribution system and POS terminals. In addition, those delivery companies will share related logistics resources, including transportation lines, site stores, and delivery staff, with Jumei.com.


More...

Due to the fast sales of Apple's new products, Hon Hai achieved combined operating revenue of NTD468.999 billion, which was about CNY94 billion, in October 2014, representing a year-on-year increase of 22.58% and an increase of 12.9% compared with September 2014.

Hon Hai revealed that its combined operating revenue in October 2014 was the second highest monthly revenue in the company's history, which was only second to its NTD490.931 billion revenue in December 2013. Meanwhile, the company's combined operating revenue from January to October 2014 reached NTD3.182 trillion, which was an increase of 5.82% compared with the same period of last year and record-high revenue for the first ten months of a year.

Hon Hai said that in October 2014, the company's shipment of consumer electronic products, computers, and communications products all saw growth over September.

Hon Hai's outstanding performance in October was promoted by Apple's new iPhone 6 and iPhone 6 Plus. On the other hand, Apple officially launched its new iPad Air 2 and iPad mini 3 tablets in October, which also drove the performance growth of Hon Hai.


More...

Chinese iPhone and iPad users now have a new method to pay for App Store products.

Apple announced that the App Store has added China UnionPay as a payment option for Chinese customers. China UnionPay is the most popular payment card in China and will provide App Store customers with a simple and more convenient way to purchase their favorite apps. Customers can easily link their Apple ID with a UnionPay debit or credit card for one-tap purchases.

As a bankcard network, China UnionPay operates China's national inter-bank clearing and settlement system, develops the worldwide UnionPay Card acceptance network, promotes the issuance and usage of the UnionPay Card as well as other innovative payment solutions, so as to provide quality, efficient and safe payment services to cardholders.

To date, the total number of UnionPay Cards issued both at home and abroad has exceeded 4.5 billion. The UnionPay network has been extended to all cities and rural areas in China. In addition, China UnionPay has enabled UnionPay Card acceptance in over 140 countries and regions through extensive cooperation with more than 400 institutions around the world.

Financial terms of the deal were not announced.


More...

Chinese telecom device maker ZTE Corporation has won the bid for 4G LTE project construction from Southeast Asia Telecommunications Holdings Limited.

At the same time, ZTE Senior Vice President Zhang Renjun and Southeast Asia Telecom Group Chairman Zuo Huazheng signed a memorandum and strategic cooperation agreement on behalf of the two parties.

Southeast Asia Telecom Group is a comprehensive communications carrier and its businesses cover mobile communications and the Internet services. Southeast Asia Telecom (Cambodia) Co., Ltd. has gained an operating license issued by the Royal Government of Cambodia, including mobile communications (4G LTE included), ISP, wireless fixed-line, and VoIP. The company has launched a nationwide 4G FDD LTE mobile communications network construction, which is expected to put into operation in the first half of 2015.

The cooperation between ZTE and Southeast Asia Telecom will focus on the mobile Internet strategy, aiming to provide the most advanced technologies, abundant applications, and the best network to the market, so as to promote the economic and social development in Cambodia by improving communications and information service level.
Financial terms for the deals were not released.

More...

Chinese telecom device maker Huawei promised that they will provide EUR5 million, which is about USD6.3 million, to the 5G innovation center of University of Surrey, aiming to promote research and testing of next-generation data transmission standards.

The goal of the 5G innovation center of University of Surrey is to implement 5G technology application testing in the real world.

Though Huawei claimed that the fund should be helpful for the 5G technology development, it is still a relatively small investment compared with the company's previous promise, which is to invest USD600 million in the research of 5G technologies before 2018.

In regards to the research process of the 5G innovation center, the next step is to build a test bed. This process is expected to be completed in three stages over the next 12 months. The first stage will be completed around April 2015 and the test will be launched by then. As long as the entire test bed is operable, which is expected to be realized in September 2015, University of Surrey will have an active 5G infrastructure covering the entire campus of 17,000 teaching staff and students.

Huawei hopes that the company could demonstrate 5G technologies before 2018 and launch 5G network in U.K. in 2022.


More...

While Chinese shoppers have always been able to buy many goods from Amazon.com and ship them into China, a new program by the company will handle tariffs and localization of product descriptions to smooth the user experience.

Amazon.cn announced that its Chinese-language international shopping store started trial operation on November 11, 2014. That day was important as being the Alibaba-inspired Singles' Day online shopping experience. Amazon's move to begin its service on that day is a weak way of challenging Alibaba's monopoly of the Chinese-language e-commerce ecosystem.

Overseas products purchased by Chinese consumers will be delivered to them in an average of two weeks, with expedited shipping times of as little as three days.

Consumers can directly visit Z.cn to access the full Chinese-language Amazon international shopping store. With localized familiar operating processes, they are able to buy products from Amazon.com, enjoy the same price and quality as American consumers, and read the product comments of American consumers.

In regards to tariffs, Amazon will help collect the import duties when consumers place their orders. If the collected amount is higher than the actual amount, the company will refund the consumers; while if it is lower than the actual amount, consumers do not need to make up the difference.

As for post-sales services, all products purchased from Amazon international shopping store can enjoy the localized post-sales service support in China.

The first batch of 80,000 products from Amazon.com is now available during the trial operation started from November 11, 2014, covering apparel, shoes, maternal and child products, cosmetics, toys, personal care, outdoor, and sports.


More...

Chinese third-party Internet payment service provider Alipay.com announced that the company has established a new subsidiary in Sydney, Australia.

Alipay will reportedly continue with a local joint venture with Paybang to meet the shopping demands of Australian and Chinese consumers.

Alipay will also work together with Australia Post to promote Alipay shopping cards in 4,400 local retailing sites. With those cards, Australian consumers will be able to directly purchase products from Tmall.com and Taobao.com.

Alibaba Group's other subsidiary Taobao also announced a new move in Australia. The website formally launched its Australia zone online, which will provide the best Australian food and agricultural products to consumers in China.

More...

Chinese classified information website 58.com announced the launch of a new housekeeping service brand named "58 Daojia" and appointed Chen Xiaohua, chief strategy officer of 58.com, as chief executive officer of "58 Daojia".
58 Daojia provides location-based service booking, on-site services, and online payment and reviews.

This project was initially launched in July 2014. Currently, 58 Daojia has deployed ten on-site lifestyle services, including housekeeping, manicures, and relocation, in 20 cities across the country. Its monthly order growth is reportedly growing at over 100%.

58 Daojia CEO Chen said that with the launch of 58 Daojia brand, they will continue to provide better service experience to customers. They believe that 58 Daojia will be able to provide jobs for 1,000 people in the next five years.

According to Yao Jinbo, chief executive officer of 58.com, the company plans to invest USD300 million in the future to redefine the service industry and bring common chores direct to consumers in their homes.


More...