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Tencent Debuts Micro Loans Product

Data sourced through the Internet to be used for credit assessment WeBank, an online-bank owned by majority shareholder Tencent, has recently launched its first financial product – “micro loans”. The amount of the small loans product is set between RMB 20,000 to RMB 200,000 (US$3,225 to US$32,250) with daily interest rates set at 0.05%. The loan service does not require ... Read More »

China’s Tencent Enters Credit Information

The approval of eight enterprises by China’s PBOC to enter the personal credit market in 2015 sees Internet giants Aliba (Alipay) and Tencent competing for a piece of the market share.   General Manager of Tencent Credit Services, Wu Dan, disclosed at the Global Mobile Internet Conference (GMIC) in Beijing that the company is currently establishing personal credit rating reports ... Read More »

Tencent and Sony in Distribution Partnership

Tencent Holdings has struck the latest in a string of music distribution deals, this time with Sony Music Entertainment, as it teams up with labels to try to develop China’s paid-for music market and curb piracy. The partnership, announced on Tuesday, will give Tencent the right to distribute Sony Corp’s music catalog online in China, including artists like Daft Punk, ... Read More »

China’s Wanda, Tencent and Baidu Team up for US$813m e-Commerce Deal

China’s privately-held Dalian Wanda Group is set to launch a 5bil yuan (RM2.56bil) e-commerce joint venture with domestic internet giants Tencent Holdings Ltd and Baidu Inc. The e-commerce venture, which will be 70% owned by Wanda and 15% held by Tencent and Baidu respectively, is set to be announced later this week, the people said. The venture will unite three of ... Read More »

Tencent & New Oriental Announce Online Education Joint Venture

New Oriental Education & Technology Group, the Chinese behemoth in private education, announced that it had established a joint venture with Chinese Internet giant Tencent on online education.   The company is named Weixue Mingri which means micro-learning for tomorrows.  Pan Xin, vice president at New Oriental’s online business will be the JV’s CEO and Yu Minhong (aka. Michael Yu), ... Read More »

Tencent to Take Stake in JD.com to Challenge Alibaba

Tencent has agreed to pay $214.7 million for a 15 percent stake in JD.com, the companies announce late Sunday. JD.com is China’s second-largest e-commerce company behind Alibaba, which controls nearly 80 percent of China’s internet shopping market. As part of the deal, Tencent agreed to buy an additional 5 percent stake in JD.com after it completes a planned $1.5 billion ... Read More »

“Leftover Treasure” Online Finance Products Encroach on the Turf of China’s State Owned Banks

Alibaba, Tencent and Baidu are three tech companies which are offering online finance products at higher yields than bank deposits and thus have become quite popular with private investors.  So much so that regulators are taking notice.   Although regulators hope that the leading Internet companies could play a role in making China’s banking system more competitive, they are concerned about ... Read More »

Alibaba’s Profits, Revenues Up in Q3 by 51%

Alibaba Group posted a quarterly profit for the three-month ended 30th September 2013. Net income attributable to shareholders in the period was US$792 million – that is a 12% increase compared to the previous quarter. Alibaba’s revenues in the quarter jumped 51% year-on-year to reach US$1.78 billion. Compared with the previous quarters however, this represents a slowdown from the growth ... Read More »

Alibaba to Launch Mobile Gaming Platform

Alibaba plans to launch a mobile gaming platform which will open a new revenue stream.  Alibaba intends to take a 20 per cent cut of revenue from app sales and in-app purchases with developers taking 70 per cent.  The remaining 10 per cent of revenue will be donated to charity. The platform will store payment options, virtual currencies and game ... Read More »

Tencent Expands Internationally with Equinix

China’s leading content provider enhances and extends delivery of services via Platform Equinix in Hong Kong Equinix, Inc. (Nasdaq: EQIX) announced that Tencent, China’s leading content provider, has deployed in Equinix’s Hong Kong data center, with plans for future expansion in additional markets globally.  The deployment will enable Tencent to expand the availability of its Internet services internationally while delivering high-performance ... Read More »

China’s E-commerce Market Valued at US$45 bil in Q2

Recently published research claims that the transaction volume of China’s e-commerce industry reached US$44.5 billion in the second quarter of 2012 – a jump of 45% year-on-year. According to a report published by Analysys International claims that the consumer-focused arm of Alibaba Group, Taobao, holds a 76% market share of China’s e-commerce industry with transaction volume exceeding US$31.9 billion in ... Read More »

Baidu, Tencent and Taobao Are China’s Top 3 Websites by Traffic

According to data released by Internet Society of China, the country’s top five websites in terms of unique visitors as of April 27, 2012 were Baidu, Tencent, Taobao, Sina and Sohu. Baidu currently receives average of 584.92 billion unique visitors per week, while Tencent has an average of 465.04 billion unique visitors per week. Taobao gets 193.46 billion unique visitors ... Read More »