China’s central bank is creating a new clearinghouse for online transactions, a key step toward closer oversight of the country’s third-party payment market, currently more than 24.2 trillion yuan (US$ 3.63 trillion). About 200 third-party payment firms – led by Alibaba Group-affiliated Alipay and Tencent Holding’s Tenpay – have provided the backbone of China’s dynamic […]
Category: Tech, Media & Telecom
According to Bloomberg, China’s electric-vehicle industry, with 200-plus companies backed by a raft of billionaires, verges on a massive shakeout as the government imposes stricter technology standards on fledgling manufacturers and considers limiting their number to only 10. Any curbs would be aimed at weeding out the weak, said a senior executive with the state-backed […]
With a huge domestic market and healthy GDP growth in the past 10 years, Chinese companies have had little incentive to look for expansion overseas. But with the Chinese economy slowing and growth opportunities at home nearing exhaustion, attitudes have started to change, according to the Financial Times. Data from fDi Markets show that outbound […]
Reuters reports real estate and entertainment conglomerate Dalian Wanda Group Co expects to seal two billion-dollar film-related deals in the United States this year, chairman Wang Jianlin said on Tuesday, as China’s richest man steps up his push into Hollywood. After completing the acquisition of two non-production film companies – each worth above $1 billion […]
One of China’s most popular selfie app makers is preparing to raise up to $1 billion through a listing on the Hong Kong exchange, in a test of whether that market can compete with New York and mainland China for a wave of expected Chinese startup offerings, The Wall Street Journal reports. The app maker, […]