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Tencent’s AI Bot Passes DeepSeek as China’s Favorite on iPhones
Tencent Holdings’s Yuanbao became the most downloaded iPhone app in China this week. It overtook DeepSeek to claim the position. With this, Tencent has stolen a march on rivals like Alibaba and Baidu, which have made bigger bets on AI than the Shenzhen company.
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Billionaire Jack Ma Gets Back Into Business With 'Ma's Kitchen Food'
Jack Ma sparked speculation about his next endeavors after the billionaire seeded a small company to process and sell farming produce, in his latest venture since retreating from the spotlight at the height of a government-led industry crackdown.
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Tencent to Cut Cloud Services Prices by Up to 40 Percent to Match Rivals
Tencent Holdings is cutting prices for cloud services by up to 40 percent from June amid similar moves from rivals that have plunged the sector into a price war. The fierce competition comes amid soft corporate demand, with the Chinese economy in the midst of a wobbly recovery since abandoning strict COVID-19 restrictions last year.
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Alibaba Group Sells Remaining Stake in Paytm Worth Rs. 1,378 Crore
China's Alibaba Group has sold its remaining stake in Indian digital payments firm Paytm for about Rs. 1,378 crore through a block deal, stock exchange data showed on Friday. The exit comes days after Paytm posted its first-ever quarterly operating profit as a listed firm, nine months ahead of its own target.
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China Acquires 'Golden Shares' in Two Alibaba Units in Bid to Strengthen Control Over Online Content
China has purchased 'golden shares', or minority stakes with special rights, in two of Alibaba's domestic units. Golden shares grant government-backed funds or companies board representation and/or veto rights for key business decisions. Beijing is looking to extend a campaign to strengthen control over online content, and Alibaba has been one of t...
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Paytm Slips 6 Percent on Questions Over CEO Reappointment, Regulatory Fears
Paytm shares fell 6.2 percent on Friday over questions about the reappointment of its chief executive officer and the central bank's guidelines for digital lending apps. The Institutional Investor Advisory Services has opposed the reappointment of Vijay Shekhar Sharma as CEO and managing director. Moreover, Paytm told investors that the latest guid...
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Alibaba Said to Cut Over One-Third Deals Team Staff After Regulatory Crackdown
Alibaba is said to reduce its strategic investment team of more than 110 people, mainly based in mainland China, to about 70. The company reportedly plans to cut over a third of staff in its in-house deals team after Beijing's sweeping regulatory crackdown. The job cuts mainly involve mid-level and senior people, informed sources.
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Alibaba Beats Revenue Estimates Amid COVID-19 Lockdown in China
Alibaba Thursday beat expectations for fourth-quarter revenue due to growing demand for some of its niche online shopping services in China as the country faces COVID-19 lockdown. The company, however, said it would not issue a forecast for the new fiscal year, citing pandemic-related risks and uncertainties.
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Didi and Lenovo Founder Clear Weibo Accounts, Raise Questions on Possible Danger in Public Speaking
Didi and Lenovo founders, along with several other Chinese billionaires, cleared their Weibo accounts amid speculations about danger to their safety for speaking publicly. Only content from the last six months is visible on the Chinese microblogging site, which is an alternative to Twitter.
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Global Smart Speaker, Smart Display Shipments Grow Despite Component Shortage in Q3 2021: Strategy Analytics
Smart speaker and smart display global shipments registered a 10 percent year-over-year (YoY) growth despite component shortages, in Q3 2021 as per a report by Strategy Analytics. A total of 39.3 million units were shipped during the time period. Sales of smart speakers increased about 7 percent on a YoY basis, and sales of smart displays surged by...
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China's Top Social Media Sales Promoters In Public Dispute With L'Oreal
China's top two livestreaming sales stars said they have suspended cooperation with French cosmetics giant L'Oreal over a dispute about prices during Alibaba Group's Singles Day shopping promotion earlier this month.
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Chinese Tech Firms 'Self-Correct' to Get Ahead of Potential Regulatory Fury
Fretting about unprecedented regulatory heat for China's tech sector, some companies are no longer waiting for any official reprimands that may or may not be forthcoming.
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Didi Global Considers Going Private to Calm China, Compensate Investor Losses: Report
Didi Global is considering going private to placate Chinese authorities and compensate investor losses since the ride-hailing firm listed in the United States, the Wall Street Journal reported on Thursday.
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Alibaba May Face Record Fine From Antitrust Regulators in China: Report
China's antitrust regulators are considering levying a record fine on Alibaba Group over suspected anticompetitive behaviour, the Wall Street Journal reported, citing people familiar with the matter.
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Jack Ma Loses Title as China's Richest Man After Coming Under Beijing's Scrutiny
Alibaba and Ant Group founder Jack Ma has lost the title of China's richest man, a list published showed, as his peers prospered while his empire was put under heavy scrutiny by Chinese regulators.
-
Tencent’s AI Bot Passes DeepSeek as China’s Favorite on iPhones
Tencent Holdings’s Yuanbao became the most downloaded iPhone app in China this week. It overtook DeepSeek to claim the position. With this, Tencent has stolen a march on rivals like Alibaba and Baidu, which have made bigger bets on AI than the Shenzhen company.
-
Billionaire Jack Ma Gets Back Into Business With 'Ma's Kitchen Food'
Jack Ma sparked speculation about his next endeavors after the billionaire seeded a small company to process and sell farming produce, in his latest venture since retreating from the spotlight at the height of a government-led industry crackdown.
-
Tencent to Cut Cloud Services Prices by Up to 40 Percent to Match Rivals
Tencent Holdings is cutting prices for cloud services by up to 40 percent from June amid similar moves from rivals that have plunged the sector into a price war. The fierce competition comes amid soft corporate demand, with the Chinese economy in the midst of a wobbly recovery since abandoning strict COVID-19 restrictions last year.
-
Alibaba Group Sells Remaining Stake in Paytm Worth Rs. 1,378 Crore
China's Alibaba Group has sold its remaining stake in Indian digital payments firm Paytm for about Rs. 1,378 crore through a block deal, stock exchange data showed on Friday. The exit comes days after Paytm posted its first-ever quarterly operating profit as a listed firm, nine months ahead of its own target.
-
China Acquires 'Golden Shares' in Two Alibaba Units in Bid to Strengthen Control Over Online Content
China has purchased 'golden shares', or minority stakes with special rights, in two of Alibaba's domestic units. Golden shares grant government-backed funds or companies board representation and/or veto rights for key business decisions. Beijing is looking to extend a campaign to strengthen control over online content, and Alibaba has been one of t...
-
Paytm Slips 6 Percent on Questions Over CEO Reappointment, Regulatory Fears
Paytm shares fell 6.2 percent on Friday over questions about the reappointment of its chief executive officer and the central bank's guidelines for digital lending apps. The Institutional Investor Advisory Services has opposed the reappointment of Vijay Shekhar Sharma as CEO and managing director. Moreover, Paytm told investors that the latest guid...
-
Alibaba Said to Cut Over One-Third Deals Team Staff After Regulatory Crackdown
Alibaba is said to reduce its strategic investment team of more than 110 people, mainly based in mainland China, to about 70. The company reportedly plans to cut over a third of staff in its in-house deals team after Beijing's sweeping regulatory crackdown. The job cuts mainly involve mid-level and senior people, informed sources.
-
Alibaba Beats Revenue Estimates Amid COVID-19 Lockdown in China
Alibaba Thursday beat expectations for fourth-quarter revenue due to growing demand for some of its niche online shopping services in China as the country faces COVID-19 lockdown. The company, however, said it would not issue a forecast for the new fiscal year, citing pandemic-related risks and uncertainties.
-
Didi and Lenovo Founder Clear Weibo Accounts, Raise Questions on Possible Danger in Public Speaking
Didi and Lenovo founders, along with several other Chinese billionaires, cleared their Weibo accounts amid speculations about danger to their safety for speaking publicly. Only content from the last six months is visible on the Chinese microblogging site, which is an alternative to Twitter.
-
Global Smart Speaker, Smart Display Shipments Grow Despite Component Shortage in Q3 2021: Strategy Analytics
Smart speaker and smart display global shipments registered a 10 percent year-over-year (YoY) growth despite component shortages, in Q3 2021 as per a report by Strategy Analytics. A total of 39.3 million units were shipped during the time period. Sales of smart speakers increased about 7 percent on a YoY basis, and sales of smart displays surged by...
-
China's Top Social Media Sales Promoters In Public Dispute With L'Oreal
China's top two livestreaming sales stars said they have suspended cooperation with French cosmetics giant L'Oreal over a dispute about prices during Alibaba Group's Singles Day shopping promotion earlier this month.
-
Chinese Tech Firms 'Self-Correct' to Get Ahead of Potential Regulatory Fury
Fretting about unprecedented regulatory heat for China's tech sector, some companies are no longer waiting for any official reprimands that may or may not be forthcoming.
-
Didi Global Considers Going Private to Calm China, Compensate Investor Losses: Report
Didi Global is considering going private to placate Chinese authorities and compensate investor losses since the ride-hailing firm listed in the United States, the Wall Street Journal reported on Thursday.
-
Alibaba May Face Record Fine From Antitrust Regulators in China: Report
China's antitrust regulators are considering levying a record fine on Alibaba Group over suspected anticompetitive behaviour, the Wall Street Journal reported, citing people familiar with the matter.
-
Jack Ma Loses Title as China's Richest Man After Coming Under Beijing's Scrutiny
Alibaba and Ant Group founder Jack Ma has lost the title of China's richest man, a list published showed, as his peers prospered while his empire was put under heavy scrutiny by Chinese regulators.
