This Chinese tech giant's latest gadget is... a bus. The Wall Street Journal & Breaking News, Business, Financial and Economic News, World News and Video. Amazon-is-far-from-the-only-u-s-tech-giant-to-face-an-uphill-battle-in-china. The Next Billion-Dollar Boom in Chinese Tech. Alibaba and Tencent Set Fast Pace in Mobile-Payments Race - WSJ. China’s Internet Reflects Power of the Checkbook. China’s internet industry is dominated by a trio of giants, and one of the biggest weapons they use to maintain their dominance is their checkbook. Search engine Baidu Inc., BIDU 0.31 % e-commerce company Alibaba Group Holding Ltd. BABA 0.82 % and game-and-social-media company Tencent Holdings Ltd.
TCEHY 0.40 % --known collectively as BAT—all have used a combination of minority-stake investments in startups and acquisitions to ensure they don’t miss out on big trends and can build wide-reaching ecosystems that reinforce their core businesses. Take online video. Alibaba spent some $4 billion last year to acquire Youku Tudou to compete with Tencent Video and Baidu’s iQiyi—meaning all three of China’s biggest video sites are under the BAT troika.
Similarly, Alibaba spent $1.5 billion in 2014 to acquire AutoNavi, one of the three big mapping companies along with Baidu Map and Tencent Map. I have written before about how the big three act as kingmakers among China’s startups. What happens in one minute on China's internet (Infographic) - Tech in Asia. China’s Inescapable Tencent Adds Hollywood Movies to Its Vast ‘Walled Garden’ - WSJ. The moment the US gave the world to China. The Chinese didn't imagine that the US would walk away from global leadership so readily. But it has happened, in plain view. Loaded: 0% Progress: 0% Obama: 'Wait and see' about Trump Four dead in 37-vehicle crash in China Thousands in the great Ehtiopian run Dozens dead in Kabul suicide blast Pope extends abortion forgiveness US police shootings in seperate 'ambush' attacks France's ex-president Nicolas Sarkozy defeated Deadly helicopter crash after violence in Rio slums US President Barack Obama advises world leaders at the APEC summit to take a 'wait and see' approach to President-elect Donald Trump, and advises Democrats to fight for their beliefs.
On Friday. In April, Barack Obama said: "If we don't write the rules, China will write the rules out in that region," the Asia-Pacific. A week ago, he gave up his final, forlorn effort to write the rules of the Asia-Pacific. Donald Trump and Hillary Clinton had both promised to veto the 12-nation trade deal known as the Trans-Pacific Partnership. After 1,000 Year Slumber, China Vows to Invent Again.
What is WeChat Payment? A Simple Guide - WalktheChat. What is WeChat payment? WeChat payment is a payment solution completely integrated inside the social and messaging application of Tencent: WeChat. It appears in the “Wallet” section of the application. Through the wallet section and the integrated browser of WeChat, users can perform a variety of transactions using WeChat Pay, including and not limited to: Transferring money to friends (especially as “red envelopes” shared during Chinese festivals)Performing transactions on e-commerce websitesTopping up their mobileInvestment in wealth management fundsPaying for water and electricity billsOrder and pay for a cabPurchase a train or flight ticketBook a night in a hotelPurchase movie ticketsAnd much more… These transactions are meant to be a future money-maker for Tencent.
Tencent actually makes most of its money through value-added services. How to apply for WeChat payment? There are two main cases when it comes to applying for WeChat payment: China's $100M mission to grow 'olive ball' A year ago, it had 76,000 rugby players. In 2016, another 60,000 Chinese were introduced to the oval-ball sport, and officials there hope for as many as a million players in five years. Just 0.01% of its populace are involved in the game -- barely a drop in the sporting ocean -- but China's politicians and sporting powers are keen on a quick step to rugby hegemony. As its population approaches 1.5 billion -- roughly 20% of the world's total -- it is understandable that World Rugby is leaping at the chance for the game to conquer the territory. But is it really possible to achieve such a gargantuan rise in playing numbers in such a short space of time?
"We have a fixed objective of one million players in 10 years, but that's being readjusted by the federation to five years I believe," Gosper says. "That's a pretty meteoric rise. " The $100M, 10-year plan Gene Tong, the regional training manager for Asia Rugby, has been in China since 2014. Can China follow Japan's lead? Sevens shortcut? China’s Small Private Banks Find it Tough to Navigate Land of Lending Giants. The Simple Truth About China’s Economy. China Sets New Tone in Drafting Cybersecurity Rules. China is taking a more inclusive tack in instituting cybersecurity standards for foreign technology companies, allowing them to join a key government committee in an effort to ease foreign concerns over the controls. The committee under the government’s powerful cyberspace administration is in charge of defining cybersecurity standards. For the first time, the body earlier this year allowed select foreign companies— Microsoft Corp.
MSFT 0.38 % , Intel Corp. INTC -0.17 % , Cisco Systems Inc. CSCO 0.74 % and International Business Machines Corp. —to take an active part in drafting rules, rather than participating simply as observers, said people familiar with the discussions. How much influence the foreign companies will have over committee deliberations remains to be seen, these people said. Representatives from Microsoft and Cisco confirmed the companies are members. China’s new approach isn’t likely to vent the heat over technology controls. eMarketer. eMarketer. eMarketer. Uber in China: Why Foreigners Never Win in Tech. Ecommerce Drives Retail Sales Growth in China. Although China's economy as a whole has suffered from a great deal of instability this year, its ecommerce sector is and will remain a major driver of economic growth, as internet penetration and smartphone ownership continue to increase.
A new eMarketer report, “China Ecommerce: 2015 Market Update,” explores how the digital retail market is developing in the country. China's macro economy has showed sustained signs of weakness throughout 2015, with the real economy struggling to perform a turnaround. A cooling housing market, comparatively weak investment growth and slumping exports have weighed on the country's fortunes, despite a series of fiscal and monetary policy easing measures by the central government and sustained intervention in the stock market. Mobile will account for about half of retail ecommerce sales in China this year, eMarketer estimates. Mcommerce has surged alongside mobile internet adoption in China. How Your Reptile Brain Responds to Marketing. Retail Sales Worldwide Will Top $22 Trillion This Year. Retail sales worldwide—including both in-store and internet purchases—will reach $22.492 trillion this year, according to new figures from eMarketer.
The global retail market will see steady growth over the next few years, and in 2018, worldwide retail sales will increase 5.5% to reach $28.300 trillion. This is eMarketer’s first-ever forecast of the global retail market and retail ecommerce sales worldwide. The complete forecast also includes a breakdown of total retail and retail ecommerce sales in 22 countries, as well as the number of consumers who shop and purchase goods via the internet in each of those markets. When it comes to retail products and services purchased on the internet, ecommerce will account for 5.9% of the total retail market worldwide in 2014, or $1.316 trillion.
By 2018, that share will increase significantly to 8.8%, yet retail ecommerce will still account for just a fraction of in-store purchases even as it nears $2.5 trillion by the end of our forecast. Baidu and Tencent to dominate digital advertising market in China - Mobile Advertising & App Marketing.
Chinese tech firms, Baidu and Tencent are on a trajectory to dominate digital advertising in the country comparable to Google and Facebook in the US. That’s according to a Goldman Sachs report. Tencent and Baidu to dominate digital ad market in China Source: blogs.wsj.com Combined, Google and Facebook roughly represent up to 80% of the US digital advertising market in 2016. Heather Bellini, Analyst, Goldman Sachs, explains that Chinese digital advertising was eating strongly into the country’s media ad spend.
With total online expenditure coming in at $33bn last year, or 45% of total media spending, the companies are on track to reach over half of total ad spend in China. She adds: “Tencent and Baidu, principally the leading social and search engine in China, respectively, contributed 56% of the ad revenue growth among the major Chinese online market companies that are covered by [Goldman Sachs].” Tencent Warns of Challenges to Ad Business, Despite Strong Results. Tencent Makes Advertising Push. Mobile Payments Will Triple in the US in 2016. The number of people in the US using their phones to pay for goods and services at the point of sale will continue to climb steadily, with 2016 being a year of significant growth for the technology.
According to the latest proximity mobile payments forecast from eMarketer, the total value of mobile payment transactions in the US will grow 210% in 2016. eMarketer defines proximity mobile payments as point-of-sale transactions that use mobile phones as a payment method, via tapping, waving and similar functionality. In 2015, mobile payments will total $8.71 billion in the US, with users spending an average of nearly $376 annually using their mobile phone as a payment method. By 2016, total mobile payment transactions will reach $27.05 billion, with users spending an average of $721.47 annually. “Several factors will drive substantial mobile payments growth in the US. eMarketer expects there will be 23.2 million people in the US using proximity mobile payments in 2015. China E-payment Reached $86.17 Trillion in Q3 2015. China's new 'Internet Plus' ambition: is it all about more smartphones?
China’s 'internet plus' strategy, announced in early March, promised to integrate mobile Internet, cloud computing and big data for manufacturing and promote the development of e-commerce, industrial networks and internet banking. But how would this ambitious plan to transform the country into a digital economy work in practice? Already more than 630 million Chinese use the Internet and there are 570 million mobile users who feed Internet businesses worth more than 2 trillion yuan (US$323 billion), according to a Ministry of Industry and Information Technology report in 2014.
Yang Weiqing, the founder of iResearch, a leading research group on the Chinese IT industry, thinks that end-user devices are the most important, so the government should focus on smartphones and similar devices, which will be at the centre of all Internet-related businesses and the Internet Plus. Smartphone makers have already been pushing this view, given the potential for them to grow their sales.
China’s 13th Five-Year Plan: Q&A with Scott Kennedy and Christopher K. Johnson - China Real Time Report. Analysts Scott Kennedy and Christopher K. Johnson with the Center for Strategic & International Studies in Washington, D.C., have released Perfecting China, Inc.: The 13th Five-Year Plan, a report on China’s latest policy blueprint. Here is a question and answer with the authors, edited for length and style. Aren’t five-year plans outdated? Why does China still use them?
China’s early five-year plans, adopted during the Mao era, were meant to support a centrally planned economy by micro-managing, without price signals, how resources were allocated. With the opening of the economy, plans became more aspirational, with targets set for the economy as a whole. China has made innovation a major focus of this five-year plan but this effort often involves state subsidies and targets different from, say, the approach in Silicon Valley.
In its latest five-year plan, China set a relatively high 6.5% growth target despite slowing global and domestic demand, rising debt and overcapacity. Internet Plus. Old Version | 中文 | 11 July 2016 Premier: Internet Plus to boost growth Premier Li Keqiang said that promoting Internet Plus offers an important opportunity for economic transformation. Premier Li promotes big data potential Premier Li Keqiang has called for business models based on big data to push forward public entrepreneurship and innovation. New guideline targets Internet financing A guideline regulating financing activities on the Internet has been issued by China’s central bank and government departments to encourage innovation in the area. China unveils Internet Plus action plan to fuel growth China unveiled an Internet Plus action plan to integrate the Internet with traditional industries and fuel economic growth. China moves toward an Internet powerhouse The development of the Internet industry in China has gone from strength to strength in recent years as the country has been turning its Internet business from “big” to “great”.
Internet Plus becomes a reality in China. Mobile Wallet POS Payments - China | Statista Market Forecast. Mobile Wallet POS Payments The “Mobile Wallet POS Payments” segment includes transactions at Point-of-Sale that are processed via smartphone applications (so-called “mobile wallets”). Well-known providers of mobile wallets are ApplePay, Google Wallet and Samsung Pay.The payment in this case is made by a contactless interaction of the smartphone app with a suitable payment terminal belonging to the merchant.
The data transfer can be made, for example, via wireless standard NFC (Near Field Communication) or by scanning a QR code to initiate the payment. A user pays for a purchase via a “Mobile Wallet” application by triggering an online bank transfer or by using a digitally stored credit or debit card (Host Card Emulation). Payment transactions with physical debit or credit cards at contactless terminals and mobile POS systems (e.g. Whitepaper: China Internet Statistics & User Insights. China Digital Consumer View 2015. China Offline Payment Market Insight in 2015. China Digital Consumer View 2015. China Digital Consumer Study 2016.
Ecommerce Drives Retail Sales Growth in China. What is Alibaba? Tencent Makes Advertising Push. Chinese Company in Patent Dispute With Apple Barely Exists. U.S.-China Trade Troubles Grow. China's Reckoning: The Economic Miracle Hits Troubled Times. For All Its Heft, China’s Economy Is a Black Box. Chinese GDP Data: How Reliable? - China Real Time Report. Reuters A labourer works on a steel structure at a financial building construction site, as the cityscape is seen amid smoke from burning straw, in Hefei, Anhui June 3, 2011. By Tom Orlik How big is the Chinese economy? Answering that question is not as straightforward as looking up the number on the National Bureau of Statistics website. China’s GDP data is haunted by controversy, with widespread doubts about its accuracy. The release last year of U.S. diplomatic cables by Wikileaks has added further fuel to the fire. Records of a 2007 conversation between China’s Vice Premier Li Keqiang – then the Party Secretary of Liaoning province, and U.S.
A smiling Mr. But is the man tipped to be China’s next premier right to distrust the GDP data? Doubts about the reliability of China’s GDP data do not come from nowhere. It is not always on the upside that the NBS errs. With local leaders vying to outdo each other, the result was an exaggerated number for GDP for the country as a whole. Kingmakers of China’s Internet: Baidu, Alibaba and Tencent. Hong Kong Unlikely to Return Bookseller Wanted in Mainland China.
HONG KONG—Officials here said Wednesday there was little chance a local bookseller wanted in mainland China would be sent back after mainland authorities threatened him with tougher punishment if he didn’t return. Security officials also said they would further investigate the case of Lam Wing-kee, whose revelations last month about being secretly arrested and interrogated in China over his company’s books rekindled fears that Beijing is tightening its grip on the semiautonomous city. Mr. Lam, who went missing last year, said he was allowed to return to Hong Kong in June on the condition he bring back information about his bookshop’s customers. But he went off script and held a news conference to talk about his ordeal of being held for months in the city of Ningbo, near Shanghai, and vowed never to return to the mainland. Mr. Ningbo police warned Mr. The Hong Kong delegation was given a summary of the case against Mr. They were also shown a video of Mr.
—Copyright the Associated Press. Veteran Chinese Diplomat Warns on South China Sea Ruling - China Real Time Report. Carl Icahn sells entire Apple stake on China worries, warns Wall Street of 'day of reckoning' Microsoft Shuts Chinese Web Portal as It Shifts Focus There. Beijing: Apple iPhone Violated Chinese Patent. China’s Content Crackdown Forces Western Media Concessions. China’s Tech Rules Make It Hard for U.S. Firms to Take Control. Baidu Plans to Mass Produce Autonomous Cars in Five Years. Untangling China’s Cybersecurity Laws - China Real Time Report. China has 40.6 million private businesses. How Many Companies in China? | China Checkup. Chinese Market Entry | B2B International. Forbes Welcome. Byron Wien: What Investors Need to Know About China. Alibaba Affiliate Ant Financial Raises $4.5 Billion in Largest Private Tech Funding Round.
President Xi Jinping’s Most Dangerous Venture Yet: Remaking China’s Military. BDA - Opportunity through Insight. Chinese Voice Frustration Over ‘Great Firewall’ Balding's World | Global Finance and Economics. Investors may pay the price of state of denial over China. China has a $777 billion problem with unpaid bills. Tencent Makes Advertising Push. Alibaba Affiliate Ant Financial Valued at More Than $50 Billion. ZTE Restrictions Bad News for U.S. Tech Suppliers. Ep 21 - Graham Fink is the culture chameleon by The CMO Show (start @ 6mins) What happens in one minute on China's internet (Infographic) - Tech in Asia.
China’s Censorship Clampdown Stirs a Pushback. Apple Sales, Profit Surge in China. China Seeks Compliance Commitment From Foreign Tech Companies. As Apple Pay Debuts in China, A State-Run Newspaper Voices Support - China Real Time Report. How Mobile Payments Reshape Lifestyles. China to Wall Street’s Deal Makers: We Don’t Need You. China Issues Broad New Rules for Web. Potty Discipline: China Mulls Blacklist for Misbehaving Public Toilet Users - China Real Time Report. China’s First Online-Only Insurer Zhong An Plans Up to $2 Billion IPO. China’s Consumer Inflation Picks Up on Lunar New Year Buying. Overproduction Swamps Smaller Chinese Cities, Revealing Depth of Crisis. Fears of a China Crisis Are Greatly Exaggerated.