China

Ex- Baidu COO is now venture partner at GGV Capital

Former Chief Operating Officer of GGV Capital is now a venture partner of GGV Capital, the venture capital company that seeks investment opportunities in firms that connect China and the US, TechCrunch reported.


China said to stop Tencent and Alibaba from offering virtual credit cards

The People's Bank of China has blocked Tencent Holdings Ltd and Alibaba Group from offering customers with virtual credit cards, according to a source interviewed by Bloomberg News.

China closes popular WeChat accounts

Dozens of popular accounts of WeChat, the social messaging app of Tencent Holdings Ltd, were closed by Chinese authorities, Reuters reported citing Chinese media reports.

Active smartphone users in China went over 700 million last year

Analytics company Umeng said the number of active smartphone users in China has surpassed the 700 million mark as of the end of 2013, TechCrunch reported.


Latest News

China's regulators have already given their assent for the creation of an international trading center in the free trade zone in Shanghai, Reuters reported citing the bourse's Chairman Gui Minjie.
Venture capitalists are putting their support on travel tech startups that seek to enhance the travel experience of consumers even with the popularity of travel booking platforms, TechCrunch reported.
Tencent Holdings will be acquiring a 15% stake in JD.com in a $214.7 million deal to provide a stronger platform that will rival Alibaba Group Holdings in the space, Bloomberg reported.
San Francisco, US-based startup Spellgun launched today to bring Western mobile games to China's mobile market under a partnership with video game art outsourcing firm Concept Art House and Chinese firm Talkweb.
Tencent Holdings, the biggest Internet company in China, could get a 16% stake in online retailer JD.com, according to a Chinese business newspaper, Reuters reported.
An agreement was entered into between Walt Disney Studios and Shanghai Media Group Pictures to allow writers and filmmakers in the US and China to work together in producing Disney movies with Chinese themes, Reuters reported.
In its quest to develop products faster and introduce more devices to the market faster, Apple Inc has hired new engineers from rival firms like HTC to beef up its team in Asia, The Wall Street Journal reported.
Shanghai, China-based pet e-commerce site Boqii landed $25 million in a Series B funding led by undisclosed US investors to fuel its brand building and expansion efforts.
The launching of ChinaSo, reportedly being run by Xinhua's vice president, represents another attempt by the Chinese government to have its own state-run search engine, TechCrunch reported.
As they open their first Old Navy store in China, Gap Inc will be increasing its efforts to promote their brand online so it can capitalize on the country's fast-growing e-commerce sector, Reuters reported.
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