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Chinese Online Retailer JD.com Spins Off Finance Business to Take on Alibaba’s Ant Financial

5 Mar jd-com-990x490

By Anmol Sachdeva, The Tech Portal

Adding fuel to its ongoing battle on the e-commerce front, Alibaba and its arch-nemesis JD.com are now gearing up to go against each other on the financial turf as well. The latter has just recently announced that it will spin-off its financial business, JD Finance, into an independent affiliate organization. It is following Alibaba’s lead to build its own financial identity in a highly competitive market such as China. (more…)

China’s Bike-Sharing Startup Ofo Rakes in $450Mn at a Billion Dollar Valuation

2 Mar AAEAAQAAAAAAAAjiAAAAJDg1ZDVmZTQ5LWQ4YTUtNGM0OS1iOTg0LWIyYmM0ODllN2IwYw

By Kajal Joshi, The Tech Portal

China has been constantly witnessing money-burning battle among the firms of different industries. The latest battleground is set in the bike-sharing space. (more…)

Lenovo’s Third Quarter FY 2016/17 Results Led by Growth In PC Business

21 Feb Lenovo-624x468

Lenovo Group has announced results for its third fiscal quarter ended December 31, 2016. Quarterly revenue was US$12.2 billion, a six percent decrease year-over-year. Third quarter pre-tax income was US$101 million, a 68 percent decline year-over-year. Net income fell 67 percent year-over-year to US$98 million. (more…)

To Tap Into Huge Chinese E-Commerce Market, Foreign Companies Need To Better Understand This Complicated, Segmented Audience

10 Feb alibaba-e1449603425968

Singles Day in China — also known as “11.11” to signify four singles on Nov. 11 – has become an e-commerce bonanza for retailers offering their products to a new internet-savvy generation wishing to purchase gifts for themselves or for a potential mate. (more…)

Confirmed : Apple Will Start Initial Manufacturing Operations in Bengaluru, Could Start with iPhone 8

6 Feb apple-newest-tech-portal-e1439821309618

By Deepanshu Khandelwal, The Tech Portal

What has been widely speculated and hugely anticipated for quite some time now, is finally official. According to a release (via TOI) issued by the Karnataka Government, Apple has officially proposed to the Government, plans to start initial manufacturing operations from Bengaluru. The Govt. of course, has welcomed the proposal. (more…)

China’s Third-Party Payment Industry to Take a Huge Hit as Its RMB 500 Billion Client Reserve Funds Will Be Placed Under Centralized Management This April, Says TrendForce

19 Jan Third-Party-Payment

Starting in April 2017, third-party payment providers in China will have to put their client reserve funds under centralized management of People’s Bank of China (PBoC). This policy is expected to have a heavy impact on major domestic payment providers including Alibaba and Tencent as it prevents them from using the reserve funds to generate interest income or grow their businesses. According to market research firm TrendForce, the total amount of reserve funds that will transfer from third-party payment providers to the control of the Chinese government is estimated around RMB 500 billion. (more…)

China Rapidly Develops Semiconductor Foundries with More than US $10 Bn Expenditure in 2018

18 Jan shutterstock_257108815-624x414

In the recent years, China government proactively raises Chinese domestic semiconductor industry with stunning capital budgets. According to reports of Semiconductor Equipment and Materials International (SEMI), Chinese semiconductor industry in 2018 will spend on foundries more than US$10 billion. (more…)

Baidu Appoints Dr. Qi Lu as Group President and Chief Operating Officer

17 Jan baidu-image-e1450107108325-768x384

Baidu, Inc. (“Baidu” or the “Company”), the leading Chinese language Internet search provider, today announced the appointment of Dr. Qi Lu as Baidu’s Group President and Chief Operating Officer, in charge of products, technology, sales, marketing and operations, effective immediately. (more…)

China’s Tsinghua Unigroup to Continue Expansion, Build Foundries in Chengdu, Nanjing

12 Jan unigroup111301-624x414

China’s government-backed Tsinghua Unigroup will invest US$46 billion in two foundries in Chengdu and Nanjing and continue its expansion and talent poaching in 2017, according to company chairman Zhao Weiguo. (more…)

Why Did the Head of Twitter China Just Resign?

4 Jan twitter-logo_blue-624x327

On December 31, Twitter’s Managing Director for China, Kathy Chen, announced her departure from the company. “Now that Twitter’s APAC [Asia Pacific] team is working directly with Chinese advertisers, this is the right time for me to leave the company,” she wrote in a tweet. (more…)