Category Archives: Company

Tencent competes with Alibaba by investing in new grocery business

Yonghui Superstores announced that it has reached an agreement with Chinese tech giant Tencent over the stake transfer of its subsidiary company Yonghui Yunchang, reports the Beijing News.
Tencent has reportedly agreed to increase investment in order to gain a 15-percent stake in Yonghui Yunchang, which has been promoting its new grocery business, Super Species.

 

Super Species is a new kind of supermarket brand that features fresh commodities and produce from around the world, delivery services and the combination of shopping and dining. Continue reading “Tencent competes with Alibaba by investing in new grocery business” »

UnionPay seeks expansion with more comprehensive mobile payment app

Chinese financial services provider UnionPay officially released QuickPass, a unified online payment app on December 11, 2017, reports Chinanews.com.

The app covers 30 different commercial banks and payment institutions in China.

 

Through the new QuickPass app, users can link their bank cards, manage different bank accounts, as well as use the mobile payment services offered by each bank. Continue reading “UnionPay seeks expansion with more comprehensive mobile payment app” »

Alibaba and Ford in potential partnership

Alibaba and Ford could launch a partnership that could change the way we buy cars.

Alibaba, China’s online megastore, has already made efforts to combine e-commerce and car sales.

 

The company has, for example, proposed an auto vending machine, which would see all manner of vehicles available to buy at the touch of a button. Finance and insurance for these cars could be arranged at the vending machine, meaning that the process of buying a new vehicle could be cut from several weeks to several minutes. Continue reading “Alibaba and Ford in potential partnership” »

LeEco’s founder listed as defaulter, banned from travel and high-end purchases

Jia Yueting, a co-founder of Chinese tech giant LeEco, was listed as a defaulter who failed to fulfill court orders by the Beijing No.3 Intermediate People’s Court on Monday, reports thepaper.cn.

Jia owed PingAn Securities 479 million yuan (72.34 million US dollars) in total, according to a legal document issued by the court. Continue reading “LeEco’s founder listed as defaulter, banned from travel and high-end purchases” »

Chinese electric automaker WM Motor launches new SUV model

Chinese electric car producer WM Motor launched its new electric SUV, the EX5, at the National Exhibition and Convention Center in Shanghai on December 11, 2017, reports sina.com.cn.

 

The new vehicle has a starting price tag of 200,000 yuan (about 30,224 U.S. dollars) with a maximum mileage of 600km and an endurance distance of more than 450 kilometers under the comprehensive working condition. Continue reading “Chinese electric automaker WM Motor launches new SUV model” »

Injured snow leopard receives successful surgery in NW China

An injured female snow leopard received surgery on her fractured left hind-leg Monday, according to the provincial rescue and breeding center in northwest China’s Qinghai Province.

The wild snow leopard, a species which is on China’s top protection list, was rescued by four herders in Yushu Tibetan Autonomous Prefecture on Nov. 24. The feline was diagnosed with a fracture to the left hind-leg and other minor injuries which had healed prior to the surgery. Continue reading “Injured snow leopard receives successful surgery in NW China” »

Jack Ma to invest $15 million in selecting teachers for rural areas

Alibaba’s CEO Jack Ma is planning to invest at least 300 million yuan (about 15 million U.S. dollars) in 10 years in selecting excellent graduates to serve as rural teachers, thepaper.cn has reported, citing a rural graduates program set up by the Jack Ma Foundation.

Jack Ma, who calls himself “the spokesperson for rural teachers,” claimed that the more prominent rural teachers are, the stronger rural education will be. “Aging teaching staff and outdated knowledge structure are the fundamental problems leading to poor rural education. We might find a breakthrough in China’s educational reform by starting with rural education so as to further alleviate education-related poverty,” added Jack Ma. Continue reading “Jack Ma to invest $15 million in selecting teachers for rural areas” »

Charging piles for electric cars mushrooming in China

The number of charging piles for electric cars has been surging in China amid the country’s campaign to promote new-energy vehicles (NEVs) and fight pollution.

By the end of October this year, 195,000 public charging piles for electric cars had been built in China, 82 percent more than the number at the end of October 2016, an official said.
Continue reading “Charging piles for electric cars mushrooming in China” »